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Cable Update (GBPUSD)

  • #284,061
  • Jul 12, 2011 4:12pm Jul 12, 2011 4:12pm
Quoting 4xMiracle
Buying G/U @ 1.5798 / at current price

Take Profit 1.5930
Stop Loss 1.5750


Nice work to everyone who was taking buy positions. Glad to see we were able to profit off the move, nice and clean.
Gmail: 4xmiracle
  • #284,062
  • Jul 12, 2011 5:27pm Jul 12, 2011 5:27pm
5965-5980 during this asia?
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  • #284,063
  • Jul 12, 2011 5:38pm Jul 12, 2011 5:38pm
uhm
anyway, here is night n i need a rest
looks more likely to get again 58 area but last daily candle does not let me think on a strong down move.....

have a good trading
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  • #284,064
  • Jul 12, 2011 8:40pm Jul 12, 2011 8:40pm
Quoting MaryJane
pink zone calling for a test.
sold this area for the 2nd time now, 16p sl.. first sell closed +17. i still see possible downside, yesterdays candle could be hammering on closed door (support turned resistance).. time will tell.
Attached Image (click to enlarge)
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  • #284,065
  • Jul 12, 2011 9:51pm Jul 12, 2011 9:51pm
Quoting _BBKing_
hello
im not properly an expert but sincerely you went short in a support area or better where is supposed to see price pullback before more down.
i hope you already closed that position near 5825.
if not you have 2ways:
wait if price goes again near you
close in loss
market is unpredictable and you cant know if or when it comes again to you....
Hi all,

I still don't get. What is the clue that make u think the market will go up (reverse coz previously the pair is going down trend). U all are really good at forecasting. What is the technical analysis u use?
  • #284,066
  • Jul 12, 2011 9:56pm Jul 12, 2011 9:56pm
http://lcchong.files.wordpress.com/2...ng?w=877&h=398

http://lcchong.files.wordpress.com/2...ng?w=877&h=397
  • #284,067
  • Jul 12, 2011 10:40pm Jul 12, 2011 10:40pm
let's see the way she breaks out
Attached Image (click to enlarge)
Click to Enlarge Name: sd-sit.gif Size: 23 KB
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  • #284,068
  • Jul 12, 2011 11:29pm Jul 12, 2011 11:29pm
This Pair aint going anywhere significant tonight...

Range from 1.5869 - 1.5950

http://www.gifs.net/Animation11/Anim.../Bored_ape.gif
Gmail: 4xmiracle
  • #284,069
  • Jul 12, 2011 11:42pm Jul 12, 2011 11:42pm
Quoting MaryJane
let's see the way she breaks out
Hi MaryJane,

How do you know which one is decision and which one is indecision? What is the name of the technique u using? maybe I could try googling.
Sorry for being so slow in learning.
  • #284,070
  • Jul 13, 2011 12:09am Jul 13, 2011 12:09am
Quoting gristar
Hi MaryJane,

How do you know which one is decision and which one is indecision? What is the name of the technique u using? maybe I could try googling.
Sorry for being so slow in learning.
Supply & Demand

Awesome threads here on FF:
Price is Everything
Romancing the Price

Free webinars by Sam Seiden (they're all the same but watch them all, there are nuggets of gold inside): http://www.fxstreet.com/search/contr...1-e9bf77216d2f

closed half pos +30p
possible buy zone around 5850
update (it still can fail and re-break, nothing is 100%):
Attached Image (click to enlarge)
Click to Enlarge Name: kiss.gif Size: 23 KB
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  • #284,071
  • Jul 13, 2011 12:11am Jul 13, 2011 12:11am
Quoting MaryJane
let's see the way she breaks out
Hi MJ the cable broke out the compression area but bounce back from the little supply area in 5910. How much this area can hold in ur point of view
  • #284,072
  • Jul 13, 2011 12:20am Jul 13, 2011 12:20am
GM all.

I may be completely wrong, but in imo we may see a very fast move downwards very soon upto 1.5870. If enough resistance is met, it might bounce back equally fast otherwise the correction might go as deep as 1.5825. A move above 1.5940 will probably invalidate everything.

Trade safe and GL.
  • #284,073
  • Jul 13, 2011 12:29am Jul 13, 2011 12:29am
Quoting bchbch
Hi MJ the cable broke out the compression area but bounce back from the little supply area in 5910. How much this area can hold in ur point of view
Hi, the compression (as Red is calling this) is basically a rising wedge. it's supposed to be retested on break. I have no idea if this one will hold or not, i'm entering from inside the pattern; the break was very possible in this situation and time but tricky frankie opening in a while and we could be skewed by some €uphoria €xplosion (quite possible) as well. That's why i closed half of the trade and moved sl to be but frankly i'm prepared to get it hit.
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  • #284,074
  • Jul 13, 2011 12:40am Jul 13, 2011 12:40am
Quoting MaryJane
Hi, the compression (as Red is calling this) is basically a rising wedge. it's supposed to be retested on break. I have no idea if this one will hold or not, i'm entering from inside the pattern; the break was very possible in this situation and time but tricky frankie opening in a while and we could be skewed by some €uphoria €xplosion (quite possible) as well. That's why i closed half of the trade and moved sl to be but frankly i'm prepared to get it hit.
Thanks MJ. The EU news in half an hour hold the key for the GU momentum in near term. The EU in triangle pattern the lower triangle line @ 3970 were the lot of buy calls..... source from the forexlive site. lets see in a while
  • #284,075
  • Jul 13, 2011 12:49am Jul 13, 2011 12:49am
I dont know 'bout u guys.. but im on the sideline now... maybe today is NO Trade for me... I dont really like this kind of turn of the cable.... to go short is not a good idea at all for me... if 'she' cannot go short beyond 1.5780 today.. then tommorow North is where I go..
  • #284,076
  • Jul 13, 2011 1:08am Jul 13, 2011 1:08am
Its going to be good to be true.. a mirricale..( am i spell it right).. if the cable can touch 1.5780.... I really hate when this happen.. got to wait a couple of days before i can make a call to go south or north..
  • #284,077
  • Jul 13, 2011 1:24am Jul 13, 2011 1:24am
Quoting gristar
Hi all,

I still don't get. What is the clue that make u think the market will go up (reverse coz previously the pair is going down trend). U all are really good at forecasting. What is the technical analysis u use?
hello,
about technical etc you can see here in GU thread, what me and also all other good traders use to identify entries, trends etc.
every one has different ways but most of times i find that a lot of people say the same thing, with different methods.
so, here you can see charts, read comments etc, i think will be very helpful to you to understand better whats going on on markets.
for example yesterday we were a lot of people going long near 5800, every one with different lots, reasons, etc... but i think most of traders here were agree to go long near that support...

anyway, i suggest you not to listen to others to decide an entry on market! listen to others to learn n understand what market is saying!
90% of traders use TA, indicators and prediction
  • #284,078
  • Jul 13, 2011 1:24am Jul 13, 2011 1:24am
Let see if the market maker is stupid enough to go short this time....
  • #284,079
  • Jul 13, 2011 1:26am Jul 13, 2011 1:26am
Hello.

Yesterday I finally pick up a good long position 1.5828 - 1.5928. It took be back to BE for this week.

Sell area 1.5950-1.5970
Attached Image (click to enlarge)
Click to Enlarge Name: 07.13.2011.png Size: 24 KB
  • #284,080
  • Jul 13, 2011 1:35am Jul 13, 2011 1:35am
Quoting MaryJane
Hi, the compression (as Red is calling this) is basically a rising wedge. it's supposed to be retested on break. I have no idea if this one will hold or not, i'm entering from inside the pattern; the break was very possible ...............
hello
im still not into any position as i was sleeping.
i notice anyway in h1 something like that on the chart below:
16 h1 candles closed into that range around the damn 50%fibo and above 5900. looks more like a bullish flag than a wedge, but anyway i wait it to close a candle out of it for the moment then will decide..
Attached Image (click to enlarge)
Click to Enlarge Name: gusdh1.gif Size: 39 KB
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