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Cable Update (GBPUSD)

  • #311,101
  • May 3, 2012 3:17am May 3, 2012 3:17am
Quoting Ill-b-back
Yes sorry you are correct, I was referencing yesterday's low of 59. My order is at 54.
you not worried there may be more demand in that previous 4hr/1hr swing lo zone that extends down to 6151 and the 4hr part of the co-existing previous swing hi zone extends down to 6145 (ie resistance that became support yesterday) ?

G/L
ex member
  • #311,102
  • May 3, 2012 3:25am May 3, 2012 3:25am
1.6170 area holding price up and acting as support...

news coming within 5 mins...

watching closely . ..
The market will deceive you. Make your own judgement.
  • #311,103
  • May 3, 2012 3:26am May 3, 2012 3:26am
navin this thing might drop, i see you dont believe in taking a loss and live to trade another day http://www.pic4ever.com/images/laie_14.gif
  • #311,104
  • May 3, 2012 3:30am May 3, 2012 3:30am
Quoting nAVIN2007
..trading kills u one way or other..

i couldnt hold the short damn swap fee was ridiculous
Just kill it man for my sake, I need your daily analysis
Come with me if you want to live....
  • #311,105
  • May 3, 2012 3:31am May 3, 2012 3:31am
Quoting Ill-b-back
Just kill it man for my sake, I need your daily analysis
http://www.pic4ever.com/images/bore.gif
  • #311,106
  • May 3, 2012 3:31am May 3, 2012 3:31am
No long wick is sellers !!


Quoting bbmac
G/M

Yesterday's lo @ 6159 remains intact as does the pullback hi and the descending 1hr trend line - price meanderning between the two since.

Yesterday another bearish daily candle - 3rd ina row but like day before a longish tail so some buyers evident on the dip in the daily uptrend. 4hr has printed a L before 2 x LH's now so that general uptrend in some peril. 1hr is mixed-bearish.

@/below yesterday's lo:

[ 6166-58-45 prev 4hr sw hi zone incl 6163 = 61.8% 6077-6300
[ 6164-51 prev 4hr/1hr sw lo zone incl 6159 = Daily S1 @/around
6139-31...
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #311,107
  • May 3, 2012 3:33am May 3, 2012 3:33am




Bad News...






Patterns have an underlying mathematical structure.
  • #311,108
  • May 3, 2012 3:35am May 3, 2012 3:35am
this wave of GU might be a corrective move...

hmmmm...

should the support hold ... may retest 1.63 area again...
The market will deceive you. Make your own judgement.
  • #311,109
  • May 3, 2012 3:36am May 3, 2012 3:36am
Quoting Amir_Forex




Bad News...






Bad new nothing changed
  • #311,110
  • May 3, 2012 3:37am May 3, 2012 3:37am
Quoting PoundTrader
http://www.pic4ever.com/images/bore.gif
He's crazy I think, but I think 6080ish might hold to be honest, if it does, I'll be firing up the moon buggy
Come with me if you want to live....
  • #311,111
  • May 3, 2012 3:40am May 3, 2012 3:40am
Quoting ninjafx
this wave of GU might be a corrective move...

hmmmm...

should the support hold ... may retest 1.63 area again...
good day sir,

which support? are you talking about the 6160 minor support? i don't think that support will attract interest of smart money. The support that might get them interested in my humble opinion is the 6160 or 5900 support level.

since 6160 is very close to 6000 level, watch also how the PA reacts towards the 6000 zone in the higher TF.
  • #311,112
  • May 3, 2012 3:40am May 3, 2012 3:40am
looking to place a hail mary trade and go long with TIGHT stop. Gut instincts tell its not going to break

lets see how good my gut is will be watching PA closely
  • #311,113
  • May 3, 2012 3:42am May 3, 2012 3:42am
Quoting Ill-b-back
He's crazy I think, but I think 6080ish might hold to be honest, if it does, I'll be firing up the moon buggy
im crazy too, i only made 32 pips so far this week http://www.pic4ever.com/images/4fvgdaq_th.gif
  • #311,114
  • May 3, 2012 3:42am May 3, 2012 3:42am
Please (low time frame traders)check you weekly now !!

TODAY IS THURSDAY whats shaping up ???
Attached Image (click to enlarge)
Click to Enlarge Name: gbp usd w1 3-5-12 2.gif Size: 10 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #311,115
  • May 3, 2012 3:42am May 3, 2012 3:42am
Quoting Ill-b-back
He's crazy I think, but I think 6080ish might hold to be honest, if it does, I'll be firing up the moon buggy
well, before that happen we will see consolidation above the level in the higher TF, should provide enough time for us to react. and i don't think it will happen today cause usually consolidation takes time..
  • #311,116
  • May 3, 2012 3:43am May 3, 2012 3:43am
Quoting pippaholic
looking to place a hail mary trade and go long with TIGHT stop. Gut instincts tell its not going to break

lets see how good my gut is will be watching PA closely
90% of tight SLs always will get hit, no matter if u are long or short..
  • #311,117
  • May 3, 2012 3:44am May 3, 2012 3:44am
Quoting bbmac
you not worried there may be more demand in that previous 4hr/1hr swing lo zone that extends down to 6151 and the 4hr part of the co-existing previous swing hi zone extends down to 6145 (ie resistance that became support yesterday) ?

G/L
I am aware of it, but due to the pathetic size of my account, "worried" would be a strong word. My system allows me to be mechanical so I just trade the numbers I see, but I do understand you view there, I just don't have the time or inclination to analyze too much. Thanks bbmac, cheers man (I wish I had more creative emotion things to use, sorry).
Come with me if you want to live....
  • #311,118
  • May 3, 2012 3:44am May 3, 2012 3:44am
Quoting pippaholic
looking to place a hail mary trade and go long with TIGHT stop. Gut instincts tell its not going to break

lets see how good my gut is will be watching PA closely
go for it http://www.pic4ever.com/images/s151.gif
  • #311,119
  • May 3, 2012 3:44am May 3, 2012 3:44am
Long wick at top at top


Quoting Bones
No long wick is sellers !!
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #311,120
  • May 3, 2012 3:46am May 3, 2012 3:46am
Quoting PoundTrader
navin this thing might drop, i see you dont believe in taking a loss and live to trade another day http://www.pic4ever.com/images/laie_14.gif

i do..however i do forecast candle formation as well and i dont believe the long term direction on cable is down..
weekly can do 2 things ..

bearish engulf..
or test the blasted top..im playing test the top

if it test the top people will be long and short..this is ideal
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