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Cable Update (GBPUSD)

  • #310,501
  • Apr 30, 2012 4:20am Apr 30, 2012 4:20am
i think that here we go ! First support @ 1.6239 Then 1.6205
  • #310,502
  • Apr 30, 2012 4:22am Apr 30, 2012 4:22am
Quoting TauTrader
Good day to you,

Was stopped out Friday @ 1.6250 on my 1.6221 short. So gave back half of my earlier gains. ( short I went in on Thursday - see previous posts).

I believe we are building a bull trap on the 30 min chart - this trap is forming from 1.6200. I will thus go short again around 1.6265 to attempt to profit from this. This is purely an indicator based decision.

I am NOT saying at this point in time that the uptrend is over.... I am just saying that relief from the current levels should be on it's way.

Each to his/her own - this...
Good day to you,

Entered my trade @ 1.6279 this morning.

My 15 min has just given me confirmation. We also have a possible nesting forming on the daily and weekly TMA.I am now officially short focussed. Again - I am not saying we have a formal top. Not at all. We could run up another 100, 200, 300. It's possible. But I will only short at selected levels.

All success

Regards
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  • #310,503
  • Apr 30, 2012 4:29am Apr 30, 2012 4:29am
Quoting aarash
heh! I got it!!
And what is your analysis for next support? :-?
Watch 6250 area for clues I'd think
Come with me if you want to live....
  • #310,504
  • Apr 30, 2012 4:36am Apr 30, 2012 4:36am
Quoting Faller
ahhhhhhhhh




Can only offer so much.......


I will say that I am still short.....
Ok bro! You don't need to do that

Quote
Watch 6250 area for clues I'd think

Thanks, dude
  • #310,505
  • Apr 30, 2012 4:39am Apr 30, 2012 4:39am
Quoting bbmac
15min gave the earlier entry with it's classic div pattern and inverted hammer - bearish body close trigger.

Short scalps in an uptrend and look for the next buying opp - until PA as you suggest begins to say different.

G/L
U r right ..it can give some pips for scalping ,and trend still up..as a beginner i'm still learn to trade using 4h only ..Very nice chart anyway..
  • #310,506
  • Apr 30, 2012 4:39am Apr 30, 2012 4:39am
whenever price does pullback - as for getting involved in buying the dip - it depends on which t/f you use as your trigger and into which t/f trend you are re-entering/buying again after the pullback. For eg Daily is an opa general uptrend so if it did pullback from point X I would be looking for buying opportunities on 4hr - possibly entry timed on 1hr @ the best places using potential rbs/supp zones, fibs of points A, B and C and the average of points D, E, and F, all to point X (wherever point X - ie the top comes,) trend lines and breeched descending trend lines (wide dotted.)

G/L
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ex member
  • #310,507
  • Apr 30, 2012 4:44am Apr 30, 2012 4:44am
bears need to take out 1.6230 on next H4 to reverse the trend for short term.
  • #310,508
  • Apr 30, 2012 4:47am Apr 30, 2012 4:47am
there is always risk taker opportunity ..

take it or leave it. just follow your own analysis ...

kill the ego ....


Quoting iqyu5an
617x-lime area on eyed....

let it go and sleep....


0.0000001 cent
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not euphoria follower
  • #310,509
  • Apr 30, 2012 4:47am Apr 30, 2012 4:47am
Long position is raising from 18.23% to 18.85%
  • #310,510
  • Apr 30, 2012 4:52am Apr 30, 2012 4:52am
Quoting culibate
Long position is raising from 18.23% to 18.85%
that is nice for the bears. i think there was an increase today of 1%
  • #310,511
  • Apr 30, 2012 5:01am Apr 30, 2012 5:01am
as below

G/L
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ex member
  • #310,512
  • Apr 30, 2012 5:02am Apr 30, 2012 5:02am
Into Gap ?


Quoting Bones
sensitive location tho
Chart Gbp Lfx H1
Attached Image (click to enlarge)
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #310,513
  • Apr 30, 2012 5:04am Apr 30, 2012 5:04am
where did everyone go????

ok....final update from my initial chart post.
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I don't trust any move - when you have profit...take it.
  • #310,514
  • Apr 30, 2012 5:06am Apr 30, 2012 5:06am
Large specs are now net long on the GBPUSD. Retail traders are shorting and usually get it wrong...
  • #310,515
  • Apr 30, 2012 5:07am Apr 30, 2012 5:07am
plan our trade and trade our own plan ...

SKIP OTHERS ....

Quoting iqyu5an
there is always risk taker opportunity ..

take it or leave it. just follow your own analysis ...

kill the ego ....
not euphoria follower
  • #310,516
  • Apr 30, 2012 5:08am Apr 30, 2012 5:08am
Quoting Bones
Into Gap ?
into gap and ten up
  • #310,517
  • Apr 30, 2012 5:11am Apr 30, 2012 5:11am
if u think LONG just LONG ... if u think SHORT just SHORT ...

Quoting fxprocessor
Large specs are now net long on the GBPUSD. Retail traders are shorting and usually get it wrong...
not euphoria follower
  • #310,518
  • Apr 30, 2012 5:12am Apr 30, 2012 5:12am
Quoting Faller
where did everyone go????

ok....final update from my initial chart post.
Good day to you,


Well done there. These areas are normally quite messy. I expect a lot of to-and-from PA.


So ready at all times. But will only short as we progress - either direction - until my setup changes.


All success to you


Regards
  • #310,519
  • Apr 30, 2012 5:13am Apr 30, 2012 5:13am
Break ?
Attached Image (click to enlarge)
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #310,520
  • Apr 30, 2012 5:14am Apr 30, 2012 5:14am
No !! lol

Quoting Flynchenberg
into gap and ten up
On-site guru & also FF member's' psychiatrist, when not drinking tea
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