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Cable Update (GBPUSD)

  • #284,941
  • Jul 25, 2011 4:37am Jul 25, 2011 4:37am
I've added one more lot to the short position...
  • #284,942
  • Jul 25, 2011 4:43am Jul 25, 2011 4:43am
Quoting bbmac
No idea, all deadlines keep getting missed, latest was that a deal would be announced for open of markets today ? but last week Friday was suupposed to be final day so that legislation could get thru senate before August 2nd deadline...that date slipped and they backed off it all week as imprtnat...so who knows. At least in Europe they got 14 sovereign states to agree a deal (whatever you think of it) in the U.s they can't get 2 x parties to agree from the same country - Lol !!
lol
true....
well, time will tell if us dollar will implode or explode! lol
90% of traders use TA, indicators and prediction
  • #284,943
  • Jul 25, 2011 4:44am Jul 25, 2011 4:44am
clearly some demand @ Daily S1/23.6% 6003-6339

G/L
ex member
  • #284,944
  • Jul 25, 2011 4:47am Jul 25, 2011 4:47am
still unable to close h1 below 6270...
multiple top 6330 multiple bottom 6270
90% of traders use TA, indicators and prediction
  • #284,945
  • Jul 25, 2011 4:51am Jul 25, 2011 4:51am
Regular bullish divergence play to 5min, 3min shown below...

Back in the 1hr range again ! Lol

G/L
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ex member
  • #284,946
  • Jul 25, 2011 4:52am Jul 25, 2011 4:52am
2 be or not 2 be ............
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not euphoria follower
  • #284,947
  • Jul 25, 2011 4:53am Jul 25, 2011 4:53am
http://www.cnbc.com/id/43876062

U.s debt thingy comment
ex member
  • #284,948
  • Jul 25, 2011 5:24am Jul 25, 2011 5:24am
upside progress currently blocked at the previous 1hr swing lo zone...

Finishing here for the session/day.

G/L
Attached Image
ex member
  • #284,949
  • Jul 25, 2011 7:06am Jul 25, 2011 7:06am
regarding time cycles , I see bears in next 2 hours.
any idea?
  • #284,950
  • Jul 25, 2011 8:03am Jul 25, 2011 8:03am
So it retraced limited not even 6239 with lots of time pass , usdx failed more correction but still some supports to break , eu also readying to bull & so gu may do so at this ciuurent bottom 6261 or if retest , if not 6236 . so waiting it finish its course before long chance.
fontu

http://www.forexfactory.com/showthre...48#post4807348
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #284,951
  • Edited 9:13am Jul 25, 2011 8:56am | Edited 9:13am
usdx reach this much not bad & going to long both eu & gu to see , at & below.scalping to start till hold.
fontu
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #284,952
  • Edited 10:47am Jul 25, 2011 10:24am | Edited 10:47am
usdx 74.16 limit broken & that is upside next any wave up not valid now & long continued.fall to 74.09 & next 73.99 to break & test the low 73.87 corresponding top of eu , gu , and bear continue if possible today as hs breaks already 74.02 by that time to target 73.61 perhaps , all apparent.
fontu
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #284,953
  • Jul 25, 2011 11:13am Jul 25, 2011 11:13am
Just popped back to desk to see what I missed/update charts after own trading session ended earlier today...not a lot by the looks of it. This pairing and eurusd have been very constrained so far today/this week..52% of 20day atr on gbpusd so far, 50% eurusd.

1hr screenshot shows the consolidation between 6339 [last week's hi]-6262 [Daily S1/23.6% 6003-6339.] Of the ascending trend lines shown middle one is the 4hr.

G/L
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ex member
  • #284,954
  • Jul 25, 2011 11:51am Jul 25, 2011 11:51am
I posted this chart on the 9th of July and now the price has come back up to test the lower trend line. A bearish reverse off this wedge, maybe off 1.64, would mean resumption of the down trend for quite a way. (Quite a way - ask me for more details)

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Anything daily strongly closing above 1.64 and we have a bull market. Let's hope some news moves this pair. It's getting boring. That's part of the reason I haven't been posting for a while. The other part is that I've been travelling around the UK for the last few weeks. It might look small on the map but I can assure you it takes time to travel around.

Maybe Moody's, Standard & Poor's and Fitch will downgrade the US economy? Should it keep its AAA status? I don't know - but we all rely on people like Moody's, Standard & Poor's and Fitch to guide us when it comes to buying and selling toxic loan deals don't we?
Gone to a better place
  • #284,955
  • Jul 25, 2011 12:01pm Jul 25, 2011 12:01pm
hello im new here in this forum.
another bad day of trading for me, bull and bear traps everywhere, should watch my steps.
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  • #284,956
  • Jul 25, 2011 12:53pm Jul 25, 2011 12:53pm
Quoting andilopezz
bull and bear traps everywhere
There ain't bull or bear traps since there is no trend, this is chop. It's wealthy to stay out of it. If you really have to trade, you can scalp the extremes of the range but you must take small profits immediately. Don't hope to catch a solid move from within this mess; mark the range, scalp or stay out, wait for breakout and trade the pullback. Today's cable chop is barely 30 pips wide so it's perhaps not worth to bother with - you'd be better off with another pair - take a look at eu - weird but tradable, or au - nice trendy move today.

Quoting smikester
I posted this chart on the 9th of July and now the price has come back up to test the lower trend line.
Exactly, I was looking at it few days ago. Everything points to a touch inside a (potentially) very strong supply zone (pink).. and we're going for it inside a bearish reversal wedge.. bulls will have a tough time there.

black line - big wedge LTL (from May 2010)
blue - potential bounce area
green - fresh demand z.
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MarginTrader All Time Return: na
  • #284,957
  • Jul 25, 2011 12:59pm Jul 25, 2011 12:59pm
Also agree about long on GBP
Buy 1.6299 to 1.64 maybe more let`s see
Once scalper always scalper
  • #284,958
  • Edited 1:49pm Jul 25, 2011 1:36pm | Edited 1:49pm
Usdx breaking point at 73.99 before test the low 73.88 corresponding eu , gu top & so some up down ok perhaps here , waiting for the close scalpings today around top areas .
fontu
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #284,959
  • Jul 25, 2011 4:51pm Jul 25, 2011 4:51pm
hello all
today i got out as i saw price in tight range.
i agree on good supply area near 1.64
i had 1/3 positiion long @6285 to target 1.6380 closed @BEp few time ago by trailing stop. i thought on a b/o going up.

price still near 6280 unable to hold 63 area but supported near 6250-70
no h1 candles closing below 6270 or above 6330 since too much time imho...

last time i remember a similar pattern on GU, price went near main resistance 6360 then crashed to 61's or so

i have an uncovered daily pivot near 6200 and another near 5880

im looking for buy setup near 6250-60 and sell setup in 63 area but only for some pips until this pattern will be broken.

what do yoy think guys?
is there something else we can do?
90% of traders use TA, indicators and prediction
  • #284,960
  • Jul 25, 2011 8:51pm Jul 25, 2011 8:51pm
Quoting _BBKing_
hello all
today i got out as i saw price in tight range.
i agree on good supply area near 1.64
i had 1/3 positiion long @6285 to target 1.6380 closed @BEp few time ago by trailing stop. i thought on a b/o going up.

price still near 6280 unable to hold 63 area but supported near 6250-70
no h1 candles closing below 6270 or above 6330 since too much time imho...

last time i remember a similar pattern on GU, price went near main resistance 6360 then crashed to 61's or so

i have an uncovered daily pivot near 6200 and another...

Looks like USA might avoid Default but not downgrade.
any downgrade will trigger USD sell off. so GU long is suitable.

I will remain long GU, buying every dip for now
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