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Cable Update (GBPUSD)

  • #282,041
  • Jun 22, 2011 4:34am Jun 22, 2011 4:34am
Quoting bbmac
strictly speaking it is not a daily trend line it is a 1hr/4hr, ie there is only 1 x fractal swing lo on daily so cannot be, ie trend lines join fractal swings ....on 1hr it has been breeched to the downside, and just see-ing if we get a 1hr close below it...see pic belowbut no 1hr/4hr close below it yet.

G/L
I think market just making a little setup for some retracement on the upside but i do need the close in the next hour to remain above the previous close to confirm. Then i long above 6160 targeting 6195.Otherwise I wait for the next hours to come. market is always here. Safe trades as always.
Keep the Lights on then you can catch the rise from the dark.
  • #282,042
  • Jun 22, 2011 4:35am Jun 22, 2011 4:35am
bbmac watch the chart
Attached Image (click to enlarge)
Click to Enlarge Name: 4h1.gif Size: 36 KB
  • #282,043
  • Jun 22, 2011 4:39am Jun 22, 2011 4:39am
Quoting untusoft
Ahh... According to yesterday.. de ja vu...
This just daily reversal ... I think...
Going back on 6200 again... I hope...
Not today imo.. i see euro also in the top area and likely to follow.
  • #282,044
  • Jun 22, 2011 4:40am Jun 22, 2011 4:40am
Quoting ZeroCool
bbmac watch the chart
Sir,

I'm learning so excuse some wrong analysis, but from your chart can we say for intraday that either 1.614 will be broken down to 1.6070 or if not we go to 1.625
speaking of daily? or am I totaly wrong ?
  • #282,045
  • Jun 22, 2011 4:44am Jun 22, 2011 4:44am
touched down 6133... looking lower to 608x me see
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.jpg Size: 146 KB
trading is my zen
  • #282,046
  • Jun 22, 2011 4:44am Jun 22, 2011 4:44am
its going down believe me
Quoting sphinx8
Sir,

I'm learning so excuse some wrong analysis, but from your chart can we say for intraday that either 1.614 will be broken down to 1.6070 or if not we go to 1.625
speaking of daily? or am I totaly wrong ?
  • #282,047
  • Jun 22, 2011 4:45am Jun 22, 2011 4:45am
things looks as price is going to dive into that demand area range 6080-5930
Attached Image (click to enlarge)
Click to Enlarge Name: gusdh4.jpg Size: 201 KB
90% of traders use TA, indicators and prediction
  • #282,048
  • Jun 22, 2011 4:45am Jun 22, 2011 4:45am
Quoting ShirleyLo
touched down 6133... looking lower to 608x me see
I'm afraid so
where is the damn 1.64 level
  • #282,049
  • Jun 22, 2011 4:48am Jun 22, 2011 4:48am
Quoting sphinx8
I'm afraid so
where is the damn 1.64 level
Sometimes later when Prince Harry's getting hitched....
trading is my zen
  • #282,050
  • Jun 22, 2011 4:58am Jun 22, 2011 4:58am
Quoting dayboy001
added @ 1.6144
sl @ 1.6130

see below chart

Attachment
closed

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- 30
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  • #282,051
  • Jun 22, 2011 5:05am Jun 22, 2011 5:05am
Finishing my trading session here with a final look at 1hr...1hr/4hr ascending trend line is breeched to the downside with a 1hr and 4hr close below it now.

Intraday is very bearish now and 1hr and 4hr have printed a L below their last HL's this off a HH on both t/f's at today's current 6262 Hi.

Price is challenging the 1st near-term previous 1hr/4hr swing lo zone and it is there that the current daily lo canbe found. Daily S3 and Monthly S1 are in the previous 1hr/4hr/daily swing lo zone leading down to 6057 (6096-90 area.)

Price is currently at 112% of 20day atr so far today but only 48% of 20week atr so far this week.
Attached Image (click to enlarge)
Click to Enlarge Name: z.jpg Size: 97 KB
ex member
  • #282,052
  • Jun 22, 2011 5:09am Jun 22, 2011 5:09am
still holding my short from yesterday @ 1.6200
  • #282,053
  • Jun 22, 2011 5:11am Jun 22, 2011 5:11am
Quoting Dayboy001
closed

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- 30
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- 44
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uhm
im sorry for your loss mate.

anyway imo you took a risky position! when i do something similar, i move SL @BEp as soon as i can, best is a trail stop of 10pip
90% of traders use TA, indicators and prediction
  • #282,054
  • Jun 22, 2011 5:14am Jun 22, 2011 5:14am
Quoting sphinx8
I'm afraid so
where is the damn 1.64 level

1.64?
you will need to be very patient to see again 1.64.
from here first thing is to listen to fomc press conference late NY session.

who knows? maybe a QE3 will give your 1.64 next month....
90% of traders use TA, indicators and prediction
  • #282,055
  • Jun 22, 2011 5:20am Jun 22, 2011 5:20am
Quoting ZeroCool
its going down believe me
  • #282,056
  • Jun 22, 2011 5:21am Jun 22, 2011 5:21am
usually when i see a thing like this in m1-m5-m15 TF i wait the candle for closing below both lines.
then next candle i take a short as near the blue lines as possible with SL above.

this gives me 10-15 or either 30-40 pips each position.

but this is not 1-5-15m chart!
Attached Image (click to enlarge)
Click to Enlarge Name: gusdd1.gif Size: 31 KB
90% of traders use TA, indicators and prediction
  • #282,057
  • Jun 22, 2011 5:26am Jun 22, 2011 5:26am
Quoting _BBKing_
1.64?
you will need to be very patient to see again 1.64.
from here first thing is to listen to fomc press conference late NY session.

who knows? maybe a QE3 will give your 1.64 next month....

I'm trading long term, not daily.......... next month starts next week
all the big guys on CNBC say over summer they are long on EUR against US, meaning weaker US, the debt ceiling is really coming in US, have to wait
  • #282,058
  • Jun 22, 2011 6:18am Jun 22, 2011 6:18am
The close of this hour above previous hour can bring about a significant retracement if that happens will be looking at 6195
Keep the Lights on then you can catch the rise from the dark.
  • #282,059
  • Jun 22, 2011 6:27am Jun 22, 2011 6:27am
Close of this hour..previous hour...why is so important..i don't get it.
Trader from Croatia
  • #282,060
  • Jun 22, 2011 6:32am Jun 22, 2011 6:32am
Quoting ZeroCool
Good Day

My Short is working good ... yesterday i said cable will test 1.6120 ... no one belive me

Originally Posted by ZeroCool http://www.forexfactory.com/images/buttons/viewpost.gif
Hi all

i short @ 1.6200 SL above 1.6240


Was it 1.6241? If I am not mistaken, Cable reached a PEAK of 1.6262 today
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