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Cable Update (GBPUSD)

  • #285,061
  • Jul 26, 2011 11:32pm Jul 26, 2011 11:32pm
Quoting josef
Hello, I am back from vacations.

MaryJane, nice charts, but I'm going Long at 1.6407 target 1.6427.

Have a good trading day

Josef
Hi Josef, im inclined to agree with you, we are at some resistance here, but if the shit hits the fan in the US, we could see some crazyness. We could get a short retrace down to 6374 potentially first though which is stopping me jumping in right now, but otherwise, we could get up to 1.65+...
  • #285,062
  • Jul 26, 2011 11:44pm Jul 26, 2011 11:44pm
Quoting Jazznos
Hi Josef, im inclined to agree with you, we are at some resistance here, but if the shit hits the fan in the US, we could see some crazyness. We could get a short retrace down to 6374 potentially first though which is stopping me jumping in right now, but otherwise, we could get up to 1.65+...
Maybe close the trade with 10 pips not a bad idea.
  • #285,063
  • Jul 26, 2011 11:47pm Jul 26, 2011 11:47pm
Quoting josef
Maybe close the trade with 10 pips not a bad idea.
I just dont get out of bed for less than 30-50 pretty much! Preferably 100+ So not the kind of trade i would take... has been tricky lately, probably a good time for you to be on vacation
  • #285,064
  • Jul 27, 2011 12:01am Jul 27, 2011 12:01am
it's perfect to take 10 pips and get them fast. better than waiting for 100 a whole day and break even in the end.

Quoting josef
I'm going Long at 1.6407 target 1.6427.
arrived in perfect shape
GL + thanks!
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  • #285,065
  • Jul 27, 2011 12:11am Jul 27, 2011 12:11am
Quoting MaryJane
it's perfect to take 10 pips and get them fast. better than waiting for 100 a whole day and break even in the end.


arrived in perfect shape
GL + thanks!
True enough... Youre looking right on that short so far too...!
  • #285,066
  • Jul 27, 2011 12:22am Jul 27, 2011 12:22am
Quoting MaryJane
it's perfect to take 10 pips and get them fast. better than waiting for 100 a whole day and break even in the end.


arrived in perfect shape
GL + thanks!
Thanks.
  • #285,067
  • Jul 27, 2011 12:31am Jul 27, 2011 12:31am
Quoting Jazznos
True enough... Youre looking right on that short so far too...!
yeh i'm hoping for 6370 (and 4440 in eu - that could match) - could be a nice place to reload longs. i have already closed the ugly early 6416 entry. i don't expect a selloff though, more of a classic london whipsaw till NY, but i'll let a small short in if we ever get to that 6370 breakpoint.

there is still usd hatred across the board.. every dip being bought.. look at hourly.. look at m5 now = bubbles in soda.
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  • #285,068
  • Jul 27, 2011 12:35am Jul 27, 2011 12:35am
Quoting MaryJane
yeh i'm hoping for 6370 (and 4440 in eu - that could match) - could be a nice place to reload longs. i have already closed the ugly early 6416 entry. i don't expect a selloff though, more of a classic london whipsaw till NY, but i'll let a small short in if we ever get to that 6370 breakpoint.

there is still usd hatred across the board.. every dip being bought.. look at hourly.. look at m5 now = bubbles in soda.
Yeah i have those levels looking pretty good too, its all so hesitant and all over the place though. we have higher lows but flat tops smashing into resistance over and over... Ive just bought into AUD again on the breakout, may be shortlived though, we'll see... i caught most of the lovely news spike earlier so it may be ambitious but looks like a few are dipping their toes in...!
  • #285,069
  • Jul 27, 2011 12:43am Jul 27, 2011 12:43am
G/M

Yesterday's Bullish thrust candle sees a with 1hr/4hr/daily uptrend folow thru to top of that previous 4hr/daily swing hi zone leading to 6442 beforee supply hits the market, the pullback so far landing at the previous 1hr minor swing lo zone before some fresh demand.

Above that previous 4hr/daily swing hi to 6442 I see the following:

6452-71 previous 4hr/daily swing hi zone
6473 Daily R1 @/around
6480-96 previous 4hr swing hi zone
6515-46 previous 4hr/daily swing hi zone inc 76.4% 6746-5779 @ 6516, Daily R2 6533 @/around & Weekly R2 @/around 6546
6638 Daily R3 @/around
6714-46 previous daily/weekly swing hi zone with 6733 = Monthly R2 @/around
6755 Weekly R3 @/around

1hr/4hr/daily remain in an opa uptrend, daily printing a 2nd HL aqnd HH now. 1hr/daily 100sma's remain above their 200sma's and price above both with price above both on 4hr too but 100sma remains below it's 200 although a cross could happen soon and it is pointing up.

Minor Uk event risk @ 11am London.

G/L
ex member
  • #285,070
  • Jul 27, 2011 12:52am Jul 27, 2011 12:52am
The 1hr chart shows what I am see-ing immediately below current price...mentioned below are some fib clusters all to the current 6438 Hi and include some fibs not shown on the 1hr chart below

6371 Daily Pivot @/around
6364/63 61.8% 6321-, 23.6% 6119-
6348-51 23.6% 6068-, 50% 6259-, 76.4% 6321-
6337 23.6% 6003-
6313 Daily S1 @/around
6296 38.2% 6068-
6284-73 23.6% 5779-, 50% 6119-, 38.2% 6003-

There is also a 4hr /daily ascending trend line coming thru

G/L
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ex member
  • #285,071
  • Jul 27, 2011 12:58am Jul 27, 2011 12:58am
Quoting MaryJane
yeh i'm hoping for 6370 (and 4440 in eu - that could match) - could be a nice place to reload longs. i have already closed the ugly early 6416 entry. i don't expect a selloff though, more of a classic london whipsaw till NY, but i'll let a small short in if we ever get to that 6370 breakpoint.

there is still usd hatred across the board.. every dip being bought.. look at hourly.. look at m5 now = bubbles in soda.
Have just bought into EUR... 4472.. i know 440 might have been better but i had a 61 fib and DPiv and TL there, so hopefully it will bounce offa that!
  • #285,072
  • Jul 27, 2011 1:00am Jul 27, 2011 1:00am
Similar daily candle yesterday in eurusd (high correlation to gbpusd) and a decisive break and close of it's descending trend line on the daily.

G/L
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ex member
  • #285,073
  • Jul 27, 2011 1:14am Jul 27, 2011 1:14am
Quoting Jazznos
Have just bought into EUR... 4472.. i know 440 might have been better but i had a 61 fib and DPiv and TL there, so hopefully it will bounce offa that!
i'm holding eu sell @4520.. i don't know where pivots are today, didn't check 'em yet, LOL!

re cable: i don't mind choppy market but if there's something i really really don't like on charts -- broadening patterns. arrrgh how i hate 'em. I give this one a chance for a one more leg down and close/possibly revert the shorts, in worst case i'll be flat today.. already made some. let's see.
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  • #285,074
  • Jul 27, 2011 1:22am Jul 27, 2011 1:22am
Quoting MaryJane
i'm holding eu sell @4520.. i don't know where pivots are today, didn't check 'em yet, LOL!

re cable: i don't mind choppy market but if there's something i really really don't like on charts -- broadening patterns. arrrgh how i hate 'em. I give this one a chance for a one more leg down and close/possibly revert the shorts, in worst case i'll be flat today.. already made some. let's see.
So true, I'll redraw my lines once or twice but that's it, after that I'll call whatever pattern I was seeing either invalidated or confirmed illusion.
Don't get mad, get even!
  • #285,075
  • Jul 27, 2011 1:38am Jul 27, 2011 1:38am
bigger picture and zoom
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  • #285,076
  • Jul 27, 2011 1:44am Jul 27, 2011 1:44am
I think the greater probability remains on an upside break of current Hi at some point...this said there are potential resistance factors overhead the current Hi. Will this greater probability play out ?@ Time will tell.

Even to just this extent :It is less probable that a daily t/f bullish thrust candle does not have an upside follow thru than having one.

G/L
ex member
  • #285,077
  • Jul 27, 2011 1:48am Jul 27, 2011 1:48am
Quoting bbmac
Similar daily candle yesterday in eurusd (high correlation to gbpusd) and a decisive break and close of it's descending trend line on the daily.

G/L
may be similar scenerio , usdx not confirm up yet & likely fall further but limited probable this time before final up & good retracement chance same & deep enough as before prevailing , bais bear remain intact . shorts all closed earlier except gold as to go outside & no see before evening .
fontu
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  • #285,078
  • Jul 27, 2011 1:57am Jul 27, 2011 1:57am
Plenty of movement room either way in this respect, price has travelled only 38% of it's 20day atr so far today, 56% so far this week of it's 20week atr but 99% of it's 20mth atr so far this mth.

G/L
ex member
  • #285,079
  • Jul 27, 2011 1:58am Jul 27, 2011 1:58am
good morning/evening
im on the short side...

still not really sure of it, but for some pips shorting in this resistance area i find it easier for the moment.

lets see
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  • #285,080
  • Jul 27, 2011 2:01am Jul 27, 2011 2:01am
Quoting _BBKing_
good morning/evening
im on the short side...

still not really sure of it, but for some pips shorting in this resistance area i find it easier for the moment.

lets see
Morning Luca!
What broker do you use?
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