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Cable Update (GBPUSD)

  • #285,461
  • Aug 2, 2011 3:19am Aug 2, 2011 3:19am
Quoting nAVIN2007
morning
we still need a h close below 6258/60
Hero calls followed by margin calls...
  • #285,462
  • Aug 2, 2011 3:22am Aug 2, 2011 3:22am
5min hidden divergence and the bearish engulfing candle showed the way for a short...will it go lower than current daily lo before the data ? or will data save the longs ?

Time will tell

G/L
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ex member
  • #285,463
  • Aug 2, 2011 3:32am Aug 2, 2011 3:32am
Not looking real good for that short so far!
  • #285,464
  • Aug 2, 2011 3:33am Aug 2, 2011 3:33am
dip attracted demand even before the data hit - 53.5 the number vs 53.2 forecast/53.6 prev mth

5min below.

G/L
Attached Image
ex member
  • #285,465
  • Aug 2, 2011 3:33am Aug 2, 2011 3:33am
a strange 'better than expected' PMI data.
would anybody think the bullish trend will last more than a few hours?
maybe minutes?
  • #285,466
  • Aug 2, 2011 3:36am Aug 2, 2011 3:36am
Quoting Jazznos
Not looking real good for that short so far!

people need to be suckered in both ways..

potential bear flag
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  • #285,467
  • Aug 2, 2011 3:36am Aug 2, 2011 3:36am
it's been healthier..Lol ..G/L with it though...5min and below mixed now, intraday also mixed now.

Quoting Jazznos
Not looking real good for that short so far!
ex member
  • #285,468
  • Aug 2, 2011 3:36am Aug 2, 2011 3:36am
Try to go long after better than expected PMI..

Good Luck !!
  • #285,469
  • Aug 2, 2011 3:38am Aug 2, 2011 3:38am
Quoting andri66
Try to go long after better than expected PMI..

Good Luck !!

take note of the channel i posted
  • #285,470
  • Aug 2, 2011 3:40am Aug 2, 2011 3:40am
Quoting bbmac
it's been healthier..Lol ..G/L with it though...5min and below mixed now, intraday also mixed now.
Thanks... I got pissed off with it and bailed for +15 !! The support/demand is strong, I dont know if it will crack it. Missed a classic ABCD on AU today so spewing about that but was a bit surprised that was the reaction to the news in a way, guess market wanted a hike to try to peg the last weeks inflation figures back.
  • #285,471
  • Aug 2, 2011 3:42am Aug 2, 2011 3:42am
immediate upside obstacle is the 61.8% of the current daily hi-lo

G/L
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ex member
  • #285,472
  • Aug 2, 2011 3:49am Aug 2, 2011 3:49am
Quoting bbmac
immediate upside obstacle is the 61.8% of the current daily hi-lo

G/L
Yep the exact same level E/U retracement stopped, to the pip
Don't get mad, get even!
  • #285,473
  • Aug 2, 2011 3:58am Aug 2, 2011 3:58am
1hr shows the current daily lo...below it the previous 1hr/4hr swing lo zone in earnest running down to yesterday's 6236 Lo.

Consolidation now on 5min between current daily lo and the current pullback hi at that 61.8% 6328-6262 current daily hi-lo ? although looking more bearish than bullish ?

G/L
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ex member
  • #285,474
  • Edited 4:33am Aug 2, 2011 4:00am | Edited 4:33am
too slow.

gtg so i'm out
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not euphoria follower
  • #285,475
  • Aug 2, 2011 4:04am Aug 2, 2011 4:04am
4hr shows the old breeched ascending trennd line that has offerered resistance on the re-test from thge underside at today's current daily hi and the 'new' that has offered support at today's current daily lo.

G/L
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ex member
  • #285,476
  • Aug 2, 2011 4:08am Aug 2, 2011 4:08am
I suspect some participants are flat awaiting clear break of the 5min congestion ?

G/L
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ex member
  • #285,477
  • Aug 2, 2011 4:13am Aug 2, 2011 4:13am
My long @6300 not looking good, leave it to market (SL:1.6250/TP : 1.6350)..
Guess the deviation in PMI not so big to move market and market sentiment is risk aversion today..though seems no reason to buy USD ....

Good luck !!
  • #285,478
  • Aug 2, 2011 4:35am Aug 2, 2011 4:35am
Price again testing bottom of 5min congestion zone - to the downside this has formed a

6267-61 prev 1hr swing lo zone

then below here:

6255-39 prev 4hr/daily swing hi zone / 6255-36 prev 1hr/4hr swing lo zone
6238 50% 6003-6474
6222 Monthly Pivot @/around
6209 38.2% 5779-6474
6204 Daily S1 @/around
6195-83 prev 1hr sw hi x 2 zone with 6184 = 61.8% 6003-6474
6174 Weekly S2 @/around
6130-19 prev 1hr/4hr sw lo zone with 6127 = 50% 5779-6474
6119-12 prev 1hr sw lo zone with 6115 = 76.4% 6003-6474
6102 Daily S2 @/around
6088 Weekly S3 @/around
6085-68 prev 1hr/4hr sw lo zone
6045 61.8% 5779-6474
6032-15-03 prev daily/4hr/1hr sw lo zone
5976 Monthly S1 @/around
5965 Daily S3 @/around
5944 76.4% 5779-6474
5914-04 prev minor 4hr swing lo zone
5875-20-5779 prev daily/4hr swing lo zone

Immediate Upside obstacles shown on 1hr screen shot below...Daily Pivot is @/around 6339...price has covered only 46% of it's 20day atr so far today.

G/L




　
　
　
Attached Image
ex member
  • #285,479
  • Aug 2, 2011 4:43am Aug 2, 2011 4:43am
Quoting bbmac
Price again testing bottom of 5min congestion zone - to the downside this has formed a

6267-61 prev 1hr swing lo zone

then below here:

6255-39 prev 4hr/daily swing hi zone / 6250-36 prev 1hr/4hr swing lo zone
6238 50% 6003-6474
6222 Monthly Pivot @/around
6209 38.2% 5779-6474
6204 Daily S1 @/around
6195-83 prev 1hr sw hi x 2 zone with 6184 = 61.8% 6003-6474
6174 Weekly S2 @/around
6130-19 prev 1hr/4hr sw lo zone with 6127 = 50% 5779-6474
6119-12 prev 1hr sw lo zone with 6115 = 76.4% 6003-6474
6102 Daily S2 @/around
6088 Weekly S3 @/around
6085-68...
nice work bbmac!
your technicals are great
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  • #285,480
  • Aug 2, 2011 4:48am Aug 2, 2011 4:48am
i was not trading this london morning session...
bit of luck looking now charts there is a fight between 6250 n 6310!
i hope ny will breakout of it....
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