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Cable Update (GBPUSD)

  • #282,241
  • Jun 23, 2011 9:39am Jun 23, 2011 9:39am
Quoting forexwizard
I believe indicators that show oversold or overbought levels aren't indicating a trend reversal,they mostly indicate time to cash in on your positions.My 2cents

yes i agree with you
i posted this morning (european morning) a question about.....
imho we are in a deep fundamental week, where indicators are not helpful, and prices breake levels...

so, that's it!
anyway in my study 5930 was bottom of demand area.
lets see now next moves
90% of traders use TA, indicators and prediction
  • #282,242
  • Jun 23, 2011 9:41am Jun 23, 2011 9:41am
targeted gold sell position 1515
so nice
90% of traders use TA, indicators and prediction
  • #282,243
  • Jun 23, 2011 9:41am Jun 23, 2011 9:41am
Quote
anyway in my study 5930 was bottom of demand area.
lets see now next moves

I agree with you... + / - 15 pips
Trader from Croatia
  • #282,244
  • Jun 23, 2011 9:44am Jun 23, 2011 9:44am
Just back at desk to update charts after own trading session ended a few hours ago...I see that price has tested the very bottom of the previous daily/weekly swing lo zone 5980-34 (such is it's repeating habit.) The Daily screenshot below shows how this area was originally a daily swing hi (prev resistance) that became a swing lo after support was found here.

Price remains in a classic opa downtrend 1hr, 4hr and daily and below their respective 100sma's...only on daily does 100sma remain above it's 200sma.

Below here and daily S2 is @/around 5927 etc...

G/L
Attached Image (click to enlarge)
Click to Enlarge Name: z.jpg Size: 64 KB
ex member
  • #282,245
  • Jun 23, 2011 9:48am Jun 23, 2011 9:48am
euro is not stopping.........
90% of traders use TA, indicators and prediction
  • #282,246
  • Edited 9:56am Jun 23, 2011 9:49am | Edited 9:56am
Price today has reached 96% of it's 20day atr and this week so far 103% of it's 20week atr.

Trichet and Uk Boe/Mpc member Posen both speaking at 5pm London time (Seperately.) Posen is an uber-dove always voting for no rate rise and indeed has advocated more Qe in the past also...with Uk press commenting that rate rise is probably put off till next year - June/July given the 2-0-7 from 3-0-6 vote in last month's mpc meet, he is likely to be dovish again in his remarks ?

G/L
ex member
  • #282,247
  • Jun 23, 2011 9:53am Jun 23, 2011 9:53am
E/U 4090...+/-10
Trader from Croatia
  • #282,248
  • Jun 23, 2011 9:53am Jun 23, 2011 9:53am
http://blog.fxtechstrategy.com/2011/...934-level.html

http://www.forexcrunch.com/gbpusd-at...low-5-reasons/
ex member
  • #282,249
  • Jun 23, 2011 9:59am Jun 23, 2011 9:59am
First signal..
Trader from Croatia
  • #282,250
  • Jun 23, 2011 10:01am Jun 23, 2011 10:01am
Quoting forexwizard
I believe indicators that show oversold or overbought levels aren't indicating a trend reversal,they mostly indicate time to cash in on your positions.My 2cents

I agree with you but what I am saying is that Fear factor on the side of the bears owing to no clear directions on indicators will force a pull out giving the bulls the edge. There by causing a state of indecision. I have made more on this pull back than my scalping today +43 pips with a trail stop of 30 and price getting above 23.6%
Keep the Lights on then you can catch the rise from the dark.
  • #282,251
  • Jun 23, 2011 10:03am Jun 23, 2011 10:03am
i would spent two words about what i see:
indices deep red
gold big sell off
big risk aversion coming in
oil down big
some big dog going out and liquidating positions imho.

greece default so near so doubt etc.....

have you guys an idea of what will happen if greece will default?

trust me... as european, its better i don't think about this!
90% of traders use TA, indicators and prediction
  • #282,252
  • Jun 23, 2011 10:10am Jun 23, 2011 10:10am
Up..
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Trader from Croatia
  • #282,253
  • Jun 23, 2011 10:26am Jun 23, 2011 10:26am
Quoting Geene
Up..
ok. were r to break.
  • #282,254
  • Jun 23, 2011 10:28am Jun 23, 2011 10:28am
Quoting ambroni
ok. were r to break.
agree
  • #282,255
  • Jun 23, 2011 10:29am Jun 23, 2011 10:29am
sorry guys
im bit more cautious in my trading style.

will come back after trichet speaks
90% of traders use TA, indicators and prediction
  • #282,256
  • Edited 10:49am Jun 23, 2011 10:38am | Edited 10:49am
Does this remind us of the hourly candlestick formation of May 25/2011 between 9am - 11am that sent price all the way up the 65XX area. Buyers Confidence at 6025 resistance at 5983 Food for thought anyway just my own opinion am still long to 6140. Safe trade with tight SL
Keep the Lights on then you can catch the rise from the dark.
  • #282,257
  • Jun 23, 2011 10:50am Jun 23, 2011 10:50am
Just back for 1/2hr or so around the Uk Boe/Mpc member Posen's speech - he has moved gbpusd downwards on the kneejerk react before with his dovish comments - so wonder wether this might play again in light of the 2-0-7 vote of the mpc last time out?

Will see in next 1/2 hr or so from 5pm I guess.

G/L
ex member
  • #282,258
  • Jun 23, 2011 10:55am Jun 23, 2011 10:55am
Speaking of the Boe, it's not well known but Mervyn King is a keen banjo player and plays in a band called the Invincibles often seen gigging in the basements of wine bars in the city. Their signature tune is 'I wish I could shimmy like my great auntie vera'

G/L
ex member
  • #282,259
  • Edited 11:08am Jun 23, 2011 10:58am | Edited 11:08am
Quoting bbmac
Speaking of the Boe, it's not well known but Mervyn King is a keen banjo player and plays in a band called the Invincibles often seen gigging in the basements of wine bars in the city. Their signature tune is 'I wish I could shimmy like my great auntie vera'

G/L


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oops, wrong thread again...
All systems of divination, like music itself,work through patterns.
  • #282,260
  • Jun 23, 2011 11:07am Jun 23, 2011 11:07am
€ rising atm on Trichet comments, cable going with it, Posen no effect (yet?)

G/L
ex member
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