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Cable Update (GBPUSD)

  • #281,801
  • Jun 17, 2011 4:20am Jun 17, 2011 4:20am
Quoting Faller
Long.....6B 1.6089 futures - 2 contracts.......bounce of 1.0675 support from yesterday - first small target 1.6120 second target 1.6140 final target 1.6150.......s/l - 1.6075

Second target hit.....done for the day....one trade.....50 pips.....one hour of work.......

Cheers and have a good weekend!
I don't trust any move - when you have profit...take it.
  • #281,802
  • Jun 17, 2011 4:23am Jun 17, 2011 4:23am
have a good day @bbmac n @faller

im still into my long, want to see if get 6180.... already banked a bit
90% of traders use TA, indicators and prediction
  • #281,803
  • Jun 17, 2011 4:24am Jun 17, 2011 4:24am
Why 1.61 is a demand zone?

First:- There is a divergence in the RSI(14) - 1H chart .
Second:- Gann Level 1.61 in daily chart (cyan line).
Third:- It closes above the trend line in daily chart, where a symtric triangle is formed.

gl
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  • #281,804
  • Jun 17, 2011 4:24am Jun 17, 2011 4:24am
Quoting Faller
Second target hit.....done for the day....one trade.....50 pips.....one hour of work.......

Cheers and have a good weekend!

good call
90% of traders use TA, indicators and prediction
  • #281,805
  • Jun 17, 2011 4:25am Jun 17, 2011 4:25am
Quoting Faller
Long.....6B 1.6089 futures - 2 contracts.......bounce of 1.0675 support from yesterday - first small target 1.6120 second target 1.6140 final target 1.6150.......s/l - 1.6075

Final target of 1.6150 about to be hit....but I closed out at 1.6140 not being greedy on this quadruple witch Friday.....

Cheers to all......and to all that followed the trade.

Over and out.

Faller.
I don't trust any move - when you have profit...take it.
  • #281,806
  • Jun 17, 2011 4:26am Jun 17, 2011 4:26am
Quoting _BBKing_
good call

Thanks.....good trading to all.

I don't trust any move - when you have profit...take it.
  • #281,807
  • Jun 17, 2011 4:26am Jun 17, 2011 4:26am
Quoting Pkurdy
Why 1.61 is a demand zone?

First:- There is a divergence in the RSI(14) - 1H chart .
Second:- Gann Level 1.61 in daily chart (cyan line).
Third:- It closes above the trend line in daily chart, where a symtric triangle is formed.

gl
hello,
where you think is going? im targetin 6180
90% of traders use TA, indicators and prediction
  • #281,808
  • Jun 17, 2011 4:29am Jun 17, 2011 4:29am
Quoting _BBKing_
hello,
where you think is going? im targetin 6180

bbking......there was alot of rejection at 1.6140 (on my futures chart) - which trades at a discount of 20 pips to the cash rate......pushed all the way back to 1.6125.....heavy sells at that point...........like I said.....this is also quadruple witch Friday.....could see massive swings in each direction.....I have been burnt before......so lesson has been taken........

Cheers
I don't trust any move - when you have profit...take it.
  • #281,809
  • Jun 17, 2011 4:35am Jun 17, 2011 4:35am
Quoting _BBKing_
hello,
where you think is going? im targetin 6180
Hi, King

Remember that below 1.61 we could not long and must be cautious.
However targets of long as shown in Gann levels, 1.6180 - 1.6280.
But prices may act at 38.2% , 50% and 61.8% FIB levels - retracements of the downtrend.
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  • #281,810
  • Jun 17, 2011 4:45am Jun 17, 2011 4:45am
Quoting Pkurdy
Hi, King

Remember that below 1.61 we could not long and must be cautious.
However targets of long as shown in Gann levels, 1.6180 - 1.6280.
But prices may act at 38.2% , 50% and 61.8% FIB levels - retracements of the downtrend.
ok
meanwhile i closed the long.
now i wait, PA looks not so good in both ways.....
90% of traders use TA, indicators and prediction
  • #281,811
  • Jun 17, 2011 4:46am Jun 17, 2011 4:46am
Quoting Faller
bbking......there was alot of rejection at 1.6140 (on my futures chart) - which trades at a discount of 20 pips to the cash rate......pushed all the way back to 1.6125.....heavy sells at that point...........like I said.....this is also quadruple witch Friday.....could see massive swings in each direction.....I have been burnt before......so lesson has been taken........

Cheers

And as you can see....look what price just did......big rejection at 1.6140......now another 15 pip drop on the 5min candle......this will be a tricky day.......take care.

going for my morning walk now....the moon is still in the sky.....moon on one side....sun rising on the other......cool!
I don't trust any move - when you have profit...take it.
  • #281,812
  • Jun 17, 2011 4:46am Jun 17, 2011 4:46am
The price has reacted forcelly at 100%, hoiwever that doesn't change anything.
If it's bullish , then Price will hit easily the other extensions level as shown.

GL
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  • #281,813
  • Jun 17, 2011 5:06am Jun 17, 2011 5:06am
i go for the lunch brake.

trade well,
see you later

90% of traders use TA, indicators and prediction
  • #281,814
  • Jun 17, 2011 5:06am Jun 17, 2011 5:06am
I sell @ 6114 TP profits @ +15 +25 +35 SL @ 6170
Keep the Lights on then you can catch the rise from the dark.
  • #281,815
  • Jun 17, 2011 5:09am Jun 17, 2011 5:09am
Quoting _BBKing_
i go for the lunch brake.

trade well,
see you later

anyway im thinkin to short near 6180 or 6200 then to buy near 6100.
h4 says possible ranging levels.
will check after lunch
bye
90% of traders use TA, indicators and prediction
  • #281,816
  • Jun 17, 2011 5:11am Jun 17, 2011 5:11am
Quoting ricmaj
I sell @ 6114 TP profits @ +15 +25 +35 SL @ 6170
bE CAREFULL, SHORT NOW IS VERY RISKY
  • #281,817
  • Jun 17, 2011 5:12am Jun 17, 2011 5:12am
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First clean out of weak holders.
Quadruple Witching, Euro mess + Friday, you guys must have balls of steel.

I wish you all good luck tossing the coin.
  • #281,818
  • Jun 17, 2011 5:16am Jun 17, 2011 5:16am
I am still bearish
interest hikes will be later this year
but Greece is a problem too
  • #281,819
  • Jun 17, 2011 5:23am Jun 17, 2011 5:23am
in my observation, thou not sure.... the moves might be range today...
The market will deceive you. Make your own judgement.
  • #281,820
  • Jun 17, 2011 5:26am Jun 17, 2011 5:26am
Quoting Pkurdy
bE CAREFULL, SHORT NOW IS VERY RISKY
U r right but its only a sell stop up trend also looks so gloomy. waiting for a clear definition havent seen it yet. too many sellers at 6167
Keep the Lights on then you can catch the rise from the dark.
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