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Cable Update (GBPUSD)

  • #283,541
  • Jul 6, 2011 11:21am Jul 6, 2011 11:21am
Quoting e_piz
Where need to register to use Forexfactory image service?
Nowhere, just use the file attachment feature in posts.
Don't get mad, get even!
  • #283,542
  • Jul 6, 2011 11:22am Jul 6, 2011 11:22am
Quoting mofu.Dnewbie
well still holding long from 1.6018 becos on the weekly i saw a bounce on the 50 sma. its always good for 200pips.
still hanging on to me long
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  • #283,543
  • Jul 6, 2011 11:23am Jul 6, 2011 11:23am
Quoting _BBKing_
did some one expect this strong move up?
I think 5972 was a strong level. The spike below probably reflects the SL/sell stop orders. There seem to be still buyers present at that level.

I'm biased for short until the MPC statement. I'm estimating around 1.5860.
  • #283,544
  • Jul 6, 2011 11:30am Jul 6, 2011 11:30am
Testing chart.. Sorry guys for this non-info images, trying to get my uploading skill straight. How cant I notice the attachment tool for so long. Silly me.

BTW, Thanks MaryJane & stulic
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Trade what you see. Write what you feel
  • #283,545
  • Jul 6, 2011 11:39am Jul 6, 2011 11:39am
ok tks for replies guys.
sincerely i did not expect so much move up from 5945.
indeed... i did not go long.

my day ends again,
will come back after asia session.

good luck
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  • #283,546
  • Jul 6, 2011 11:47am Jul 6, 2011 11:47am
Quoting _BBKing_
ok tks for replies guys.
sincerely i did not expect so much move up from 5945.
indeed... i did not go long.

my day ends again,
will come back after asia session.

good luck
Read my previous post.
http://www.forexfactory.com/showthre...91#post4751491

What happen tonight is a good example of my statement.
Trade what you see. Write what you feel
  • #283,547
  • Jul 6, 2011 11:57am Jul 6, 2011 11:57am
Have any ideal for long trade Guys?

The pair still remain downside so hold short with SL, hope to see good move at the end of New York section
  • #283,548
  • Jul 6, 2011 1:40pm Jul 6, 2011 1:40pm
Asia will come and push to the south cable, maybe they want to buy lot of dollars for trades or they don't have enought in his pockets, just like yesterday happend. UK economy isn't good for this moment, I think we need minimum 2 years to get stable economy, so I will sell Cable with TP 1,5350 where are very strong supports. Yesterday I was thinking going a north but life is life. Good luck for all.
  • #283,549
  • Jul 6, 2011 3:58pm Jul 6, 2011 3:58pm
Quoting e_piz
Read my previous post.
http://www.forexfactory.com/showthre...91#post4751491

What happen tonight is a good example of my statement.
uhm ok you're right!
my bad, im still unable to pick a position at a price after a so fast n straight candle.
today i knew that 5945 was a nice extreme price, i also said it after usa data release, but i have been unable to buy it.
i think this depends on a my brain and ability...
if im searching a dip to buy maybe i would have bought near 6055-60, if im searching a target for a short position i will simply close it near 6050.

im working on this thing and one day i will find out the way to pick the damn extreme levels.
im thinkin about pick a 'small' 1/3 1/5 of normal position then add later but when i do that, then im not so good to add, so i pick the pips but not the profits.

forex is an hard work sometimes
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  • #283,550
  • Jul 6, 2011 4:02pm Jul 6, 2011 4:02pm
Quoting MaryJane
stopped out -41

faded the spike below DZ, bought again @5952, closed already +52 to offset the loss.. doubt about further upside but don't like a sell here.. weird market today, tomorrow's a day too.. best of luck to all.
hello,
i notice you picked a long near 5950
very good!
did you pick it based on the demand area or did you switch to m5 chart and picked after that 'cross' range 5946-6067?
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  • #283,551
  • Jul 6, 2011 5:10pm Jul 6, 2011 5:10pm
new chart
daily TF

i drawn:
. main fibo 5344-6743
. FE 6300-5344-6743 (is it correct??)
. actually daily flag pattern
. some demand zones (as we are heading down)
. i also drawn the so called neckline of the H&S althought i dont really trust on it (...)

what results is shown in the picture.
i mean i will check price action near those levels to find good positions to pick.

any other to add?
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90% of traders use TA, indicators and prediction
  • #283,552
  • Edited 7:02pm Jul 6, 2011 6:33pm | Edited 7:02pm
Quoting _BBKing_
did you pick it based on the demand area or did you switch to m5 chart and picked after that 'cross' range 5946-6067?
Hi King,

I'll try to explain but it's a bit complicated See the chart. There was a plan to buy into the 5915-5933 demand area (dark green) after the stopout in last trade. I watched the downmove on M5, saw the price falling, especially the last big bear (35p) candle.. well, was a kinda "stop-pop" move.. (and it took out my stop indeed, lol).. i saw exactly the same f(unny) move in opposite direction on the EU, Sunday night, around Tokyo open.. to cut it short, I felt it's a shakeout that will not reach the dark green DZ.. I also watched EU, AU and UJ in that moment - no similar movement anywhere else.. I knew my stop loss for any long entry (5910 - pink line below), price freezed at 5950 so I pulled the trigger since a 40 pip SL was acceptable for me. It went exactly as expected.

I have mismanaged the trade before; should have closed it on 2nd touch of 6028 for 20 pips.

Tomorrow might be funny. Good trading!

Edit: thx for the chart. Agree on downside. See plenty of room, 5630 possible midterm tgt. I will sell a good H1 (H4 even better) candle between 6105-6150. I hope it will shoot there at least with news, let's see.
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  • #283,553
  • Jul 6, 2011 10:46pm Jul 6, 2011 10:46pm
Quoting MaryJane
Hi King,

I'll try to explain but it's a bit complicated See the chart. There was a plan to buy into the 5915-5933 demand area (dark green) after the stopout in last trade. I watched the downmove on M5, saw the price falling, especially the last big bear (35p) candle.. well, was a kinda "stop-pop" move.. (and it took out my stop indeed, lol).. i saw exactly the same f(unny) move in opposite direction on the EU, Sunday night, around Tokyo open.. to cut it short, I felt it's a shakeout that will not reach the dark green DZ.. I also watched EU,...
ok tks for reply
i asked coz im searching a way to pick positions at extreme levels...
i still find it hard thing to do!
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  • #283,554
  • Jul 6, 2011 10:55pm Jul 6, 2011 10:55pm
breake out is near....
if down i target the 5960
if up i target 6040
lets see
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  • #283,555
  • Jul 6, 2011 11:02pm Jul 6, 2011 11:02pm
will close 1/3 short with 5pips
1/3 5980
1/3 will try the 5970-65
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  • #283,556
  • Jul 6, 2011 11:04pm Jul 6, 2011 11:04pm
currently, downtrend is my preferred target @1.5935 , lets see
  • #283,557
  • Jul 6, 2011 11:04pm Jul 6, 2011 11:04pm
out 1/3 +5 pips 5991bid
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  • #283,558
  • Jul 6, 2011 11:08pm Jul 6, 2011 11:08pm
out 1/3 5985
Sl @BEp

i let it go for a while now
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  • #283,559
  • Jul 6, 2011 11:11pm Jul 6, 2011 11:11pm
cutting another bit
position was too heavy
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  • #283,560
  • Jul 6, 2011 11:17pm Jul 6, 2011 11:17pm
damn 5985 c'mon go another place
90% of traders use TA, indicators and prediction
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