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Cable Update (GBPUSD)

  • #285,221
  • Jul 29, 2011 2:45am Jul 29, 2011 2:45am
Quoting bbmac
Price pretty bearish intraday so far with the sell-off from the 61.8% 6438-8293....price challenging that previous 1hr/4hr zone leading down to yesterday's 6293 Lo now.

--------------------------

Wonder whether the Democrats/Republicans will agree a comprimise re Debt ceiling in The U.s in time ? - actually I wonder whether the Republicans can even agree with tehir tea party faction ? Lol Reminds me of the labour Party in the 80's in the Uk with their 'militant tendancy' faction - and they expelled them. Lol

G/L

hi buddy
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  • #285,222
  • Jul 29, 2011 2:48am Jul 29, 2011 2:48am
Picture attached
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  • #285,223
  • Jul 29, 2011 2:49am Jul 29, 2011 2:49am
Appears to have found support at around 1.631/2 and its tested it yesterday and today without a proper breakthrough. A break here for the next retracement at 1.627 and if that doesn't hold then the train is surely headed towards 1.62? Weak UK data out earlier and later US GDP...
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  • #285,224
  • Jul 29, 2011 2:50am Jul 29, 2011 2:50am
some demand then at top of this previous 1hr/4hr swing lo zone leading down to y/day's Lo...how strong are the bulls here ?

still looks pretty bearish - intraday so far ?

G/L
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ex member
  • #285,225
  • Jul 29, 2011 2:51am Jul 29, 2011 2:51am
Hey mate, nice to see ya here, hope those shorts work out ...intraday with ya so far.

G/L

Quoting nAVIN2007
hi buddy
ex member
  • #285,226
  • Jul 29, 2011 2:54am Jul 29, 2011 2:54am
Quoting bbmac
Hey mate, nice to see ya here, hope those shorts work out ...intraday with ya so far.

G/L

thanks man!

i posted a chart for some of the new folks to illustrate my thinking
hopefully it will break the yellow area so my target can be achieved..lol

be lucky my friend
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  • #285,227
  • Jul 29, 2011 2:55am Jul 29, 2011 2:55am
Lets see how it will go this time.

I think it will short.
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Keep the Lights on then you can catch the rise from the dark.
  • #285,228
  • Jul 29, 2011 2:55am Jul 29, 2011 2:55am
RSI on 1h/4h is hitting below 40.... bears launching an attack or just a repeat of yesterdays price action? 30pips for the next support and should that go... all the best to those who went short and held.
  • #285,229
  • Jul 29, 2011 3:05am Jul 29, 2011 3:05am
..
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  • #285,230
  • Jul 29, 2011 3:07am Jul 29, 2011 3:07am
immediately @ current Lo and just underneath:

6284-73 23.6% 5779-6438, 50% 6119-6438, 38.2% 6003-6438,
6271-60 previous 1hr/4hr/daily sw lo zone with Daily S2 @/around 6260

testing that 23.6% 5779-6438 now as 4hr prints a L after the LH. 1hr looking bearish and intraday bearish so far.

G/L
ex member
  • #285,231
  • Jul 29, 2011 3:18am Jul 29, 2011 3:18am
UK mortgage data expected to be strong. Might just take profit now as that could be too volatile.
  • #285,232
  • Jul 29, 2011 3:20am Jul 29, 2011 3:20am
Quoting Unknownpips
UK mortgage data expected to be strong. Might just take profit now as that could be too volatile.

i doubt it..this end of month..watch and see..the movement today..no time to be playing around..lol

UK is expensive..consumer confidence is low, banks aint lending and u thinking the figures are going to be strong..u wanna add to why u think this? people aint got much money to live let alone buy houses..housing price bubble..
  • #285,233
  • Jul 29, 2011 3:24am Jul 29, 2011 3:24am
Quoting nAVIN2007
i doubt it..this end of month..watch and see..the movement today..no time to be playing around..lol

UK is expensive..consumer confidence is low, banks aint lending and u thinking the figures are going to be strong..u wanna add to why u think this?
Well its hitting below the 50% ret... how much steam will this have left just before the data is released. Whatever the case might be pulling out before US GDP.
  • #285,234
  • Jul 29, 2011 3:25am Jul 29, 2011 3:25am
Quoting Unknownpips
Well its hitting below the 50% ret... how much steam will this have left just before the data is released. Whatever the case might be pulling out before US GDP.

like i said end of month..u simply have to know what yur doing
i was watching tv last week and some MP's were hinting at quantative easing..was a clue i guess
  • #285,235
  • Jul 29, 2011 3:30am Jul 29, 2011 3:30am
immediate upside obstacles shown on 1hr chart below as price dips further to challenge:

6271-61 prev 1hr/4hr/daily sw lo zone with Daily S2 @/around 6260

immediately below here:

6252-41 prev 4hr/daily swing hi zone, with 6252= 50% 6068-6438, 6241= 61.8% 6119-6438
6226 Daily S3 @/around
6221 50% 6003-6438

G/L
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ex member
  • #285,236
  • Jul 29, 2011 3:34am Jul 29, 2011 3:34am
Hmmm.....
Quoting iqyu5an
First Short target hit at 1.63334.

Potential to 1.627xx to close the month but wanna see first where daily candle closed for safe.
not euphoria follower
  • #285,237
  • Jul 29, 2011 3:35am Jul 29, 2011 3:35am
A look @ 4hr:

G/L
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ex member
  • #285,238
  • Jul 29, 2011 3:37am Jul 29, 2011 3:37am
morning,
i had a very busy week.
today im tired n stressed.
im unable to trade....

i call it a week and go to the beach, is a nice sunny day here.
have a good day you all and a good week end.
will come back new week new month
90% of traders use TA, indicators and prediction
  • #285,239
  • Jul 29, 2011 3:39am Jul 29, 2011 3:39am
1min doji closes outside the 20bol (white) - a good eg of 'extreme deviation' and a buy at the potential supp area discussed previously.

Pullback or more ?

Will likely be looking for selling opps now.

G/L
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ex member
  • #285,240
  • Jul 29, 2011 3:40am Jul 29, 2011 3:40am
Quoting ricmaj
Lets see how it will go this time.

I think it will short.

Nice +40pips on the breakout. I wait for pa for any other moves
Keep the Lights on then you can catch the rise from the dark.
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