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Cable Update (GBPUSD)

  • #285,181
  • Jul 28, 2011 4:41am Jul 28, 2011 4:41am
Quoting josef
Why? Right now it's a strong resistance.
Because i’m shorting it
Bulls still should be careful.
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  • #285,182
  • Jul 28, 2011 4:45am Jul 28, 2011 4:45am
took a small short probe @6332 earlier, then added two more shorts. if this illusion proves valid then we might have a down channel on h1, hourly close may prove everything wrong but wanted to post asap for others to evaluate, GL
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MarginTrader All Time Return: na
  • #285,183
  • Jul 28, 2011 4:56am Jul 28, 2011 4:56am
It appears the bears have the upper hand. Hourly RSI (close) suggests widening open and close (lower closes). Next stop is around 1.627 if 1.63 is broken.
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  • #285,184
  • Jul 28, 2011 5:03am Jul 28, 2011 5:03am
I'm in short to gather some pips ...
  • #285,185
  • Jul 28, 2011 5:07am Jul 28, 2011 5:07am
short for me on h1
http://www.kikkichimoku.com/home/201...ort-su-h1.html
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  • #285,186
  • Jul 28, 2011 5:08am Jul 28, 2011 5:08am
Quoting stulic
Not exactly Sterling-Dollar related fundamentals there.
Cable as of late has been dragged down by Euro-zone concerns. After the lacklustre GDP, figures have been trickling in showing poor performance from business & retail. Even with the US debt ceiling - GBP doesn't really have a sound footing. What will happen if the politicians can come to a solution. Oh boy the weekend will be exciting.
  • #285,187
  • Jul 28, 2011 5:23am Jul 28, 2011 5:23am
this thread is going very good!
all together we are doing a great job!!


thank you to all people that keep posting here every day every hour of the day!
90% of traders use TA, indicators and prediction
  • #285,188
  • Edited 5:39am Jul 28, 2011 5:23am | Edited 5:39am
Just updatinng charts after own trading session ended earlier this London morning.

Price broke out of the 1hr congestion to the upside, pulled back and after a 2nd upside break out from it found supply at the previous minor 1hr swing hi zone (now a prev 1hr swing hi zone ) confluence with the underside of the breeched 4hr ascending trend line...the subsequent fall (helped by the bad Uk data at 1100am London) landing (so far?) at/around the 38.2% of the 6068-6438 move.

Below here:

6284-73 23.6% 5779-6438, 50% 6119-6438, 38.2% 6003-6438, Daily S1 = 6279
6271-60 prev 1hr/4hr sw lo zone
6252-41 prev 4hr/daily swing hi zone, with 6252= 50% 6068-6438, 6241= 61.8% 6119-6438
6228 Daily S2 @/around
6221 50% 6003-6438
6212 Weekly Pivot @/around
6209 61.8% 6068-6438
6195-83 = prev 1hr sw hi x 2 zone with 76.4% 6119-6438 @ 6195, 38.2% 5779-6438 @ 6186
6169 61.8% 6003-6438
6154 76.4% 6068-6438
6148 Monthly Pivot @/around and Daily S3 @/around
6130-19 prev 1hr/4hr sw lo zone
6119-12 prev 1hr sw lo zone
6109-07 50% 5779-6438, 76.4% 6003-6438
6085-68 prev 1hr/4hr sw lo zone with 6085 = Weekly S1 @/around
6062-54 prev minor 1hr sw lo zone
6032-15-03 prev daily/4hr/1hr sw lo zone with 6032 = 61.8% 5779-6438

　
　
　
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ex member
  • #285,189
  • Edited 6:09am Jul 28, 2011 5:25am | Edited 6:09am
Quoting MaryJane
took a small short probe @6332 earlier, then added two more shorts.
probe closed +18 2nd short +62 at minor demand area & eurusd at crucial support.. 3rd left running free just for case we really dive deep, stop @BE, done for today, will NOT consider to go long today.

may the +pips be with you
MarginTrader All Time Return: na
  • #285,190
  • Jul 28, 2011 5:30am Jul 28, 2011 5:30am
closed at 6317 . i am off for dinner.

See you later all.....
Quoting iqyu5an
next move to 627xx ? wanna see first how it reacts around 6317x
not euphoria follower
  • #285,191
  • Jul 28, 2011 5:31am Jul 28, 2011 5:31am
Closed half of position.
  • #285,192
  • Jul 28, 2011 5:32am Jul 28, 2011 5:32am
Just updated 1hr potential supp/res chart with the fibs of the moves down from 6438, 6394 and today's current hi - 6364 all to current daily lo which is at a 1hr ascending t/line as well as @/around that 38.2% fib mentioned above.

Off out to enjoy the London sunshine !

G/L
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ex member
  • #285,193
  • Jul 28, 2011 5:40am Jul 28, 2011 5:40am
Sterling made my day once again!

happy pipping everyone
Attached Image
consistency wins
  • #285,194
  • Jul 28, 2011 5:46am Jul 28, 2011 5:46am
Quoting _BBKing_
this thread is going very good!
all together we are doing a great job!!


thank you to all people that keep posting here every day every hour of the day!
YES!
shorts take care, this all could be a shakeout followed by a wtf-moment made by NY, watch the euro. covered 70% of size on cable and eu, don't like the broadening triangles, switching off for today, see you tomorrow.
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MarginTrader All Time Return: na
  • #285,195
  • Jul 28, 2011 6:42am Jul 28, 2011 6:42am
Pivot: 1.639

Most Likely Scenario: Short positions below 1.639 with targets @ 1.631 & 1.6265 in extension.

Alternative scenario: Above 1.639 look for further upside with 1.6435 & 1.6485 as targets.

Comment: a break below 1.631 would trigger a drop towards 1.6265.

http://www.tradingcentral.com/chart/...1728115226.GIF
  • #285,196
  • Edited 9:31am Jul 28, 2011 7:51am | Edited 9:31am
Pulled up the cable 4h and theres an interesting possibility of maximising the position if the daily closes around 1.624 or thereabouts. Roughly an ideal re-entry would be 1.6225 as that is well below the daily close (recent support) and the next support is a long way off to 1.618. Any chance that the debt ceiling solution will trigger these events? Lets hope so. The train south is still the way for me.

EDIT: Picture reads 1.6225 - actual rate 1.6250
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  • #285,197
  • Jul 28, 2011 8:10am Jul 28, 2011 8:10am
does option expiry got to do with cable moving sideway??
  • #285,198
  • Jul 28, 2011 8:12am Jul 28, 2011 8:12am
Quoting carat
does option expiry got to do with cable moving sideway??
Sideway? I think your screen is sideways.
Don't get mad, get even!
  • #285,199
  • Jul 28, 2011 8:50am Jul 28, 2011 8:50am
http://www.forexfactory.com/[img...5829de39fe.jpghttp://ir.webuda.com/images/d95829de39fe.jpg
  • #285,200
  • Jul 28, 2011 9:13am Jul 28, 2011 9:13am
wanna test DP ?
Quoting iqyu5an
closed at 6317 . i am off for dinner.

See you later all.....
not euphoria follower
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