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Cable Update (GBPUSD)

  • #283,221
  • Jul 5, 2011 2:11am Jul 5, 2011 2:11am
I have no position right now but it seems buyers shud peak in now.
Trade responsiblypatience is the key/Swing trader
  • #283,222
  • Jul 5, 2011 2:20am Jul 5, 2011 2:20am
Quoting sinchan
Hi Josef dont U think it will go to south for the UK news..

Something like this. But it didn't. Closed with -30 pips.

Don't have open positions right now.
  • #283,223
  • Jul 5, 2011 2:24am Jul 5, 2011 2:24am
Price challenging 2nd 1/2 of that previous 1hr/4hr swing lo zone now...the daily ascending trend line would come through around 5930 on today's daily candle...below that recent 5910 swing lo I see:

5878 61.8% 5343-6746
5848 61.8% 5290-5746
5832-18 previous daily swing lo zone inc Weekly S2 @/around 5824
5802 monthly S1
5790-44 previous daily swing lo zone

G/L
ex member
  • #283,224
  • Jul 5, 2011 2:31am Jul 5, 2011 2:31am
Quoting smikester
I just posted this chart elsewhere but it's still valid so here you are. Longs have seen a rejection of 1.6130 today. Why? See grey box with overhead resistance.


Attachment
Good morning. Why anyone would contemplate longs is beyond me. Especially when it's a down day. I've been holding shorts for a long time now. To me, the news will be irrelevant. Looking at the head and shoulders (retested) and resistance levels (retested) the only hurdle is 1.600 and that fell over a while ago. Next support after 1.59. Anybody?
Gone to a better place
  • #283,225
  • Jul 5, 2011 2:31am Jul 5, 2011 2:31am
Quoting josef
Something like this. But it didn't. Closed with -30 pips.

Don't have open positions right now.
hello,
uhm looks like not so good start of day!
hope you will recover!

for the moment i still stay out for a while, 6000-5990 is support area but news out in 1hour.
i will put 'small' orders before news
90% of traders use TA, indicators and prediction
  • #283,226
  • Jul 5, 2011 2:31am Jul 5, 2011 2:31am
Current near-term 4hr is below, not shown here are the 76.4% of the 5910-6139 and the Daily S3 (both @/around 5964/62 area.) Weekly S1 @/around 5945.

G/L
Attached Image (click to enlarge)
Click to Enlarge Name: z.jpg Size: 76 KB
ex member
  • #283,227
  • Jul 5, 2011 2:35am Jul 5, 2011 2:35am
Quoting smikester
Good morning. Why anyone would contemplate longs is beyond me. Especially when it's a down day. I've been holding shorts for a long time now. To me, the news will be irrelevant. Looking at the head and shoulders (retested) and resistance levels (retested) the only hurdle is 1.600 and that fell over a while ago. Next support after 1.59. Anybody?
hi mate,
me too i think on a down whole week.
5900 is where i find today's last main support. below we get into what i call strong downtrend to 58 57 then 55 for next days/weeks

anyway im still out for the moment, i need to indentify an entry
90% of traders use TA, indicators and prediction
  • #283,228
  • Jul 5, 2011 2:36am Jul 5, 2011 2:36am
Hi, G/M,

Some anti-trend trades are safer than others, I just took a long at that previous 1hr/4hr swing lo zone (previous support=potential support) based on 1min 3min and 5min regular bearish div set-up...decent enough for a quick +10+ (hold longer if pa looks good.)

Anyone's guess effect of data, or indeed longer term price discovery.

G/L

Quoting smikester
Good morning. Why anyone would contemplate longs is beyond me. Especially when it's a down day. I've been holding shorts for a long time now. To me, the news will be irrelevant. Looking at the head and shoulders (retested) and resistance levels (retested) the only hurdle is 1.600 and that fell over a while ago. Next support after 1.59. Anybody?
Attached Image
ex member
  • #283,229
  • Jul 5, 2011 2:52am Jul 5, 2011 2:52am
I had to check but this is the news with the 2 minute advantage. Ready with the 1 minute charts you scalpers.
Gone to a better place
  • #283,230
  • Jul 5, 2011 2:54am Jul 5, 2011 2:54am
The supporting 5min bullish divergence sewt-up to 1min trigger above is here...ie bullish div to 5min t/f suggesting momentum of downmove may be fading and that buyers could overwhelm sellers (howsoever temporarily) if present...where do buyers congregate ? - at potential support zones ...

Flat again now but nice little anti-30min/1hr trend move .

G/L
Attached Image (click to enlarge)
Click to Enlarge Name: z.jpg Size: 82 KB
ex member
  • #283,231
  • Jul 5, 2011 2:55am Jul 5, 2011 2:55am
Quoting josef
Something like this. But it didn't. Closed with -30 pips.

Don't have open positions right now.
SL is on 1.5970 (my)
  • #283,232
  • Jul 5, 2011 2:56am Jul 5, 2011 2:56am
6000 area proves a demand zone at the hour. But placed under intensified price actions owing to UK news Release. Survive it and we see trend back in the 6080/6100 area. Waiting to see if this hourly close can be above previous open.
Keep the Lights on then you can catch the rise from the dark.
  • #283,233
  • Jul 5, 2011 2:57am Jul 5, 2011 2:57am
yeh this is the one where subscribers get it 2mins earlier.

Service sector is a lkarge part of Uk economy so any fall in # toward the 50 level may see knee-jerk £ pressure and if under 50 some real pressure- that is the greater probability anyway.

G/L

Quoting smikester
I had to check but this is the news with the 2 minute advantage. Ready with the 1 minute charts you scalpers.
ex member
  • #283,234
  • Jul 5, 2011 3:02am Jul 5, 2011 3:02am
A large Asian account is said to have been a large pre-PMI $GBPUSD buyer - little impact so far.GU seems bullish?
Trade responsiblypatience is the key/Swing trader
  • #283,235
  • Jul 5, 2011 3:05am Jul 5, 2011 3:05am
oooooo reverse head and shoulders detected on GU:o

minute chart
Attached Image (click to enlarge)
Click to Enlarge Name: w.gif Size: 15 KB
Trade responsiblypatience is the key/Swing trader
  • #283,236
  • Jul 5, 2011 3:07am Jul 5, 2011 3:07am
Looks like a big bullish candle to me. Going long with SL @ 1.5972
  • #283,237
  • Jul 5, 2011 3:09am Jul 5, 2011 3:09am
I am long with tp 1.60488 sl 1.59955
Trade responsiblypatience is the key/Swing trader
  • #283,238
  • Jul 5, 2011 3:11am Jul 5, 2011 3:11am
Casper & Incredible - both you guys hoping for a good uk services pmi print ?

G/L
ex member
  • #283,239
  • Jul 5, 2011 3:12am Jul 5, 2011 3:12am
Attached Image (click to enlarge)
Click to Enlarge Name: gbp long.gif Size: 33 KB
  • #283,240
  • Jul 5, 2011 3:14am Jul 5, 2011 3:14am
Quoting bbmac
Casper & Incredible - both you guys hoping for a good uk services pmi print ?

G/L
technically it looks so...
Trade responsiblypatience is the key/Swing trader
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