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Cable Update (GBPUSD)

  • #283,401
  • Jul 6, 2011 2:21am Jul 6, 2011 2:21am
as it makes non sense..... i took short 6004
what is going on markets?
90% of traders use TA, indicators and prediction
  • #283,402
  • Jul 6, 2011 2:21am Jul 6, 2011 2:21am
Quoting josef
Closed with + 50 pips

Good beginning of the day.

nice
90% of traders use TA, indicators and prediction
  • #283,403
  • Jul 6, 2011 2:23am Jul 6, 2011 2:23am
Quoting _BBKing_
as it makes non sense..... i took short 6004
what is going on markets?
http://www.eburypartners.co.uk/curre...ply-downwards/
Don't get mad, get even!
  • #283,404
  • Jul 6, 2011 2:23am Jul 6, 2011 2:23am
Quoting _BBKing_
as it makes non sense..... i took short 6004
what is going on markets?
ok out +8
i go for my coffee
90% of traders use TA, indicators and prediction
  • #283,405
  • Jul 6, 2011 2:25am Jul 6, 2011 2:25am
Quoting Incrediblle
I am long here with a tight stop loss.


good luck
stopped out
Trade responsiblypatience is the key/Swing trader
  • #283,406
  • Jul 6, 2011 2:25am Jul 6, 2011 2:25am
fuck this shit
news = positive
trend = fucked
  • #283,407
  • Jul 6, 2011 2:29am Jul 6, 2011 2:29am
Quoting _BBKing_
as it makes non sense..... i took short 6004
what is going on markets?

GBP is Down!!!! 5960 is the answer. But 6004 still in demand territory just my opinion
Keep the Lights on then you can catch the rise from the dark.
  • #283,408
  • Jul 6, 2011 2:29am Jul 6, 2011 2:29am
Quoting stulic
Sold at 6087, 1 hour to BOS data release, might reload more shorts if 6025 is broken.
Closed +80
Don't get mad, get even!
  • #283,409
  • Jul 6, 2011 2:31am Jul 6, 2011 2:31am
Good morning. Yesterday's hanging man candle is now being confirmed by a bearish move. The bear flag on the H4 time frame is breaking downwards. I'm still holding shorts, but that does not make me biased, does it?

To anyone trading the bear flag: It's much safer to trade off the break of the low - i.e. 1.59 - than to become involved here. That's where the bulls roll over. There's no support then. Technical target is anywhere between 1.5800 and 1.5. Honestly, I'm not biased...

The head and shoulders played out in classic style with a perfect retest of the lower trend line. Technical target here could be anywhere between 1.58 and 1.54.

I can't see anything bullish. Candles, formations, indicators, fibs, trend lines or anything. Here's a chart:

Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd110706d1.gif Size: 30 KB
Gone to a better place
  • #283,410
  • Jul 6, 2011 2:41am Jul 6, 2011 2:41am
Quoting Incrediblle
I am long here with a tight stop loss.


good luck
I took long at 1.6000 with SL 10p. Now BE +1. TP1 1.6050 with trailing stop 20p.
  • #283,411
  • Jul 6, 2011 2:44am Jul 6, 2011 2:44am
If the demand line for GU holds then we can be sure of 6180 today. Otherwords my sentiment is 5960 only after breaking the 6000 area.
Keep the Lights on then you can catch the rise from the dark.
  • #283,412
  • Jul 6, 2011 2:46am Jul 6, 2011 2:46am
Quoting stulic
http://www.eburypartners.co.uk/curre...ply-downwards/

thanks
anyway i think here we don't need barclay's forecast to know we are probably heading into below 5900
markets already knows today's usa data imho

market looks like in bear's hands
now i wait this h4 closing and a possible back test near 6050-60

as i said, i woke up too late today
now got my 2nd coffee n go to study charts
90% of traders use TA, indicators and prediction
  • #283,413
  • Jul 6, 2011 2:47am Jul 6, 2011 2:47am
if GU follows EU then its going south
Trade responsiblypatience is the key/Swing trader
  • #283,414
  • Jul 6, 2011 2:48am Jul 6, 2011 2:48am
Quoting smikester
Good morning. Yesterday's hanging man candle is now being confirmed by a bearish move. The bear flag on the H4 time frame is breaking downwards. I'm still holding shorts, but that does not make me biased, does it?

To anyone trading the bear flag: It's much safer to trade off the break of the low - i.e. 1.59 - than to become involved here. That's where the bulls roll over. There's no support then. Technical target is anywhere between 1.5800 and 1.5. Honestly, I'm not biased...

The head and shoulders played out in classic style with a perfect...
hello,
i agree on your setup i have very similar
im asking myself if its better wait a daily candle breaking the flag or if an h4 is enough.
90% of traders use TA, indicators and prediction
  • #283,415
  • Jul 6, 2011 2:49am Jul 6, 2011 2:49am
aussie retesting broken tl on my h1 chart
eurusd approaching demand area
bought cable @6007 sl 5966 targetting 6109
Attached Image (click to enlarge)
Click to Enlarge Name: l cable.gif Size: 20 KB
MarginTrader All Time Return: na
  • #283,416
  • Jul 6, 2011 2:53am Jul 6, 2011 2:53am
why contrary to news
  • #283,417
  • Jul 6, 2011 2:57am Jul 6, 2011 2:57am
Quoting smikester
Good morning. Yesterday's hanging man candle is now being confirmed by a bearish move. The bear flag on the H4 time frame is breaking downwards. I'm still holding shorts, but that does not make me biased, does it?

To anyone trading the bear flag: It's much safer to trade off the break of the low - i.e. 1.59 - than to become involved here. That's where the bulls roll over. There's no support then. Technical target is anywhere between 1.5800 and 1.5. Honestly, I'm not biased...

The head and shoulders played out in classic style with a perfect...
Another view.
Attached Image (click to enlarge)
Click to Enlarge Name: 1HR.JPG Size: 97 KB
  • #283,418
  • Jul 6, 2011 2:58am Jul 6, 2011 2:58am
My trading colleague in the office said he had a dream that both EU and GU went short with Huge candlestick but just after it was a Huge Buying candlestick making a new High. he said is dreams never fails him in Forex. He already traded short but now prepares to long. Dreams and forex rather than chart and analysis. | like to see how it goes to confirm
Keep the Lights on then you can catch the rise from the dark.
  • #283,419
  • Jul 6, 2011 3:02am Jul 6, 2011 3:02am
Quoting ricmaj
My trading colleague in the office said he had a dream that both EU and GU went short with Huge candlestick but just after it was a Huge Buying candlestick making a new High. he said is dreams never fails him in Forex. He already traded short but now prepares to long. Dreams and forex rather than chart and analysis. | like to see how it goes to confirm

so maybe my dream where i saw gold crashing fast & furious to 0,900 in a summer day will be true one day?!
90% of traders use TA, indicators and prediction
  • #283,420
  • Jul 6, 2011 3:03am Jul 6, 2011 3:03am
G/M

Yesterday's daily candle looks very hanging man ish...some say a test of the neckline of the H&S on that t/f at Monday's 6139 Hi, some say a bear flag too on the daily with more downside to come...whatever it is certainly now another fractal LH on that t/f, the 4th in it's current opa downtrend.

1hr and 4hr remain mixed as far as opa conditions go (overall price action.) Following the sell-off from yesterday's 6128 Hi demand has been encountered in the previous 1hr/4hr swing lo zone leading down to yesterday's lo with a pullback so far to 23.6% of yesterday's Hi-today's current lo (6128-5996) then 5987 in which Daily S1 resides @/around 5992.

Below here;

5977-69 prev 1hr/4hr sw lo zone
5945 weekly s1 @/around
5925-10 prev 1hr/4hr/daily swing lo zone with Daily S2 @/around 5922
5878 61.8% 5343-6746
5854 Daily S3 @/around
5848 61.8% 5290-5746
5832-18 previous daily swing lo zone inc Weekly S2 @/around 5824
5802 monthly S1 @/around
5790-44 previous daily swing lo zone.

G/L
Attached Image (click to enlarge)
Click to Enlarge Name: z.jpg Size: 123 KB
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