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Cable Update (GBPUSD)

  • #283,741
  • Jul 8, 2011 3:01am Jul 8, 2011 3:01am
Short @ 5970. Anyone else short? TP depends but targeting 20-30 pip
Trade what you see. Write what you feel
  • #283,742
  • Jul 8, 2011 3:03am Jul 8, 2011 3:03am
Quoting josef
Morning, BBKing. Why you don't like this. GU was unexpectedly predictable hole this week.
hi bro
yes i know i got good pips on it whole week, but i found some days where price got ugly spikes up n down without clear direction as we find both buyers n sellers in this area fightin together.

for example yesterday i went in euro, i like a lot that kind of moves 4310-4220-4370. gave entry for an 'home run' of 80-90-150 pips and a lot of nice scalps
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  • #283,743
  • Jul 8, 2011 3:11am Jul 8, 2011 3:11am
Quoting bbmac
I posted a 1hr chart above asking how significant the recent 1hr PA was and what it may tell us...it looks somewhat accumulative to me, ie buyers around so it's a big near-term obstacle for the sellers...not sure I'd want to be holding a short position at the moment...alright scalping though till things become clearer.

G/L
morning bbmac
i would answer your question about buyers posting a daily chart and so asking if this can be correct.
i drawn on the left areas where price found hard work to cross.
if we go into range 5790-5900 breaking today, buyers won't be so strong anymore.
while above 6040 sellers will go weaker and reload near 6150-60
today n yesterday bulls are trying to consolidate the 5935-40 line
Attached Image (click to enlarge)
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90% of traders use TA, indicators and prediction
  • #283,744
  • Jul 8, 2011 3:14am Jul 8, 2011 3:14am
Quoting _BBKing_
hi bro
yes i know i got good pips on it whole week, but i found some days where price got ugly spikes up n down without clear direction as we find both buyers n sellers in this area fightin together.

for example yesterday i went in euro, i like a lot that kind of moves 4310-4220-4370. gave entry for an 'home run' of 80-90-150 pips and a lot of nice scalps
BB BIG KING What a n"Soul "Dancing Price Action. Up DOWNNN UPUPUP DOWN DOWNDOWN Happy trading
OUT +45
  • #283,745
  • Jul 8, 2011 3:15am Jul 8, 2011 3:15am
A lot of commentary around that if U.s NFP's did pick up significantly in June it could herald a good 2nd 1/2 in the U.s economy ? Certainly the ADP forecast (for what it is worth) was positive on Wednesday...Will be interesting to see price reaction in this pairing if this good number comes to pass...will it be a return to risk apetite overall and $ pressure or $ demand on the back of the improving U.s economy ?

Uk data to come @ 0930am London

Time will tell,

G/L
ex member
  • #283,746
  • Jul 8, 2011 3:20am Jul 8, 2011 3:20am
Hi BB,

thanks for the chart, you could well be right, on daily I see a downtrend with four consecutive LH's and LL's..price has arrived at a previous daily swinng lo zone where it is finding some demand - this is near-term obstacle for the bears...main near-term upside obstacle for the bulls remains that previous swing lo (previous resistance) now a swing hi in it's own right on this t/f

G/L

Quoting _BBKing_
morning bbmac
i would answer your question about buyers posting a daily chart and so asking if this can be correct.
i drawn on the left areas where price found hard work to cross.
if we go into range 5790-5900 breaking today, buyers won't be so strong anymore.
while above 6040 sellers will go weaker and reload near 6150-60
today n yesterday bulls are trying to consolidate the 5935-40 line
Attached Image (click to enlarge)
Click to Enlarge Name: z.jpg Size: 80 KB
ex member
  • #283,747
  • Jul 8, 2011 3:34am Jul 8, 2011 3:34am
Quoting bbmac
Hi BB,

thanks for the chart, you could well be right, on daily I see a downtrend with four consecutive LH's and LL's..price has arrived at a previous daily swinng lo zone where it is finding some demand - this is near-term obstacle for the bears...main near-term upside obstacle for the bulls remains that previous swing lo (previous resistance) now a swing hi in it's own right on this t/f

G/L
ok!
thanks
lets see now what happens!
90% of traders use TA, indicators and prediction
  • #283,748
  • Jul 8, 2011 3:37am Jul 8, 2011 3:37am
gosh i was refreshing h1 chart an i saw price above the blue hourly line and i instinctively bought.....
i forgot about news 5minutes ago

should i hold it?!
Attached Image (click to enlarge)
Click to Enlarge Name: gusdh1.jpg Size: 215 KB
90% of traders use TA, indicators and prediction
  • #283,749
  • Jul 8, 2011 3:40am Jul 8, 2011 3:40am
Quoting _BBKing_
gosh i was refreshing h1 chart an i saw price above the blue hourly line and i instinctively bought.....
i forgot about news 5minutes ago

should i hold it?!
As the news is positive, so I think, you should keep on it..The GU will go up now..Right??
  • #283,750
  • Jul 8, 2011 3:44am Jul 8, 2011 3:44am
post data react run up to 23.6% of the 6139-5938 move and some suopply encountered there...nice example of extreme deviation on 1min - a whole reversal candle closes outside the 20bol...nice little sell for a handful of pips...all adds up.

G/L
Attached Image (click to enlarge)
Click to Enlarge Name: z.jpg Size: 38 KB
ex member
  • #283,751
  • Jul 8, 2011 3:44am Jul 8, 2011 3:44am
gbp gave me back 20pips lost yesterday
maybe she was jealous i went on euro
lol
90% of traders use TA, indicators and prediction
  • #283,752
  • Jul 8, 2011 3:47am Jul 8, 2011 3:47am
Quoting bbmac
post data react run up to 23.6% of the 6139-5938 move and some suopply encountered there...nice example of extreme deviation on 1min - a whole reversal candle closes outside the 20bol...nice little sell for a handful of pips...all adds up.

G/L
very interesting!
another question? how can i delete the median line on BollBands?
90% of traders use TA, indicators and prediction
  • #283,753
  • Jul 8, 2011 3:54am Jul 8, 2011 3:54am
In the properties of the bollinger band indicator that comes as default with MT4 > Levels tab, just add in 1 and -1 values and that should get rid of the median line leaving just the upper and lower bands at how ever many standard deviations, calculated around that now invisible median line.

Or, just use this bollinger band indicator attached that has the middle line option in the input tab of it's properties.

G/L

Quoting _BBKing_
very interesting!
another question? how can i delete the median line on BollBands?
Attached Image
Attached File(s)
File Type: ex4 bollnocl.ex4   3 KB | 302 downloads
ex member
  • #283,754
  • Jul 8, 2011 3:59am Jul 8, 2011 3:59am
Quoting bbmac
post data react run up to 23.6% of the 6139-5938 move and some suopply encountered there...nice example of extreme deviation on 1min - a whole reversal candle closes outside the 20bol...nice little sell for a handful of pips...all adds up.

G/L

This movement cost me 20 pips.
  • #283,755
  • Jul 8, 2011 4:01am Jul 8, 2011 4:01am
sorry to hear that.

Quoting josef
This movement cost me 20 pips.
ex member
  • #283,756
  • Jul 8, 2011 4:01am Jul 8, 2011 4:01am
Quoting bbmac
In the properties of the bollinger band indicator that comes as default with MT4 > Levels tab, just add in 1 and -1 values and that should get rid of the median line leaving just the upper and lower bands at how ever many standard deviations, calculated around that now invisible median line.

Or, just use this bollinger band indicator attached that has the middle line option in the input tab of it's properties.

G/L
thank you very much!
90% of traders use TA, indicators and prediction
  • #283,757
  • Jul 8, 2011 4:02am Jul 8, 2011 4:02am
Quoting MaryJane
sold cable @5967 sl 5984 target somewhere below 5940
stopped out, -17
sold again @5981, stop at BE.

Still a lot of buyers around 5945. Bears be careful.
Attached Image (click to enlarge)
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  • #283,758
  • Jul 8, 2011 4:05am Jul 8, 2011 4:05am
Bearish 1hr inverted hammer close off that 23.6% 6139-5938, but are there still buyers around as price pullsback 50% of the 5938-today's current daily hi move at that 23.6% fib ?

G/L
ex member
  • #283,759
  • Jul 8, 2011 4:13am Jul 8, 2011 4:13am
Bearish regular divergence was there on 5min at current daily hi...

Just one of those markets atm, typical pre-nfp, price at only 37% of it's 20day atr so far today.

The current Hi was a H on the 1hr above the last LH on that t/f but market trapped in a generally tight intraday range atm, as reflected on the sub 1hr t/f's.

G/L
Attached Image (click to enlarge)
Click to Enlarge Name: z.jpg Size: 99 KB
ex member
  • #283,760
  • Jul 8, 2011 4:17am Jul 8, 2011 4:17am
Quoting e_piz
Short @ 5970. Anyone else short? TP depends but targeting 20-30 pip
Close +10 pip... Wait for 10 min before NFP before entering any trade.

GL All.
Trade what you see. Write what you feel
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