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Cable Update (GBPUSD)

  • #311,121
  • May 3, 2012 3:49am May 3, 2012 3:49am
Quoting nAVIN2007
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
yes , same with me still holding Long for now
  • #311,122
  • May 3, 2012 3:50am May 3, 2012 3:50am
Quoting nAVIN2007
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
not yet mate, i don't think this down move run is over since candy still has exposure to the top side.

and i think this is a major retracement since it's already more than 2 days run down..
  • #311,123
  • May 3, 2012 3:50am May 3, 2012 3:50am
look
Attached Image (click to enlarge)
Click to Enlarge Name: eur jpy h4 3-5-12 2.gif Size: 16 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #311,124
  • May 3, 2012 3:52am May 3, 2012 3:52am
NO

Quoting mrfxlee
yes , same with me still holding Long for now
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #311,125
  • May 3, 2012 3:52am May 3, 2012 3:52am
Quoting A-speculator
not yet mate, i don't think this down move run is over since candy still has expose to the top side.

and i think this is a major retracement since it's already more than 2 days run down..

this thing can very easy go up 100 pips to form a doji..tony is right in that right now the mofo is bearish..but the sum bitch aint moving..lol

now watch it fly now that i open meh mouth
  • #311,126
  • May 3, 2012 3:53am May 3, 2012 3:53am
is 1.6165 the test area??
Golden Goose Return This Month: na
  • #311,127
  • May 3, 2012 3:55am May 3, 2012 3:55am
Quoting nAVIN2007
this thing can very easy go up 100 pips to form a doji..tony is right in that right now the mofo is bearish..but the sum bitch aint moving..lol

now watch it fly now that i open meh mouth
that is because of eu pulling eg down. give cable enough time, and i think it will go down after eg completed it's move.
  • #311,128
  • May 3, 2012 3:56am May 3, 2012 3:56am
Why long ? may be that support holds may be not
Attached Image (click to enlarge)
Click to Enlarge Name: gbp usd h1 h4 3-5-12 2.gif Size: 18 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #311,129
  • May 3, 2012 4:00am May 3, 2012 4:00am
Quoting fxkiller
90% of tight SLs always will get hit, no matter if u are long or short..
How very true!!
  • #311,130
  • May 3, 2012 4:01am May 3, 2012 4:01am
Quoting lampuah
is 1.6165 the test area??
1.6151 make or break.
  • #311,131
  • May 3, 2012 4:03am May 3, 2012 4:03am
Quoting Bones
Why long ? may be that support holds may be not
agreed, and no higher high printed in 4h since we made the highest price level (6300)..
  • #311,132
  • May 3, 2012 4:03am May 3, 2012 4:03am
Quoting lampuah
is 1.6165 the test area??
It is indeed. hope to break below that.
  • #311,133
  • May 3, 2012 4:03am May 3, 2012 4:03am
Quoting lampuah
is 1.6165 the test area??
Look all the way back to last Nov, and you will see that it had a peak at 1.6165. Old resistance, new support!
  • #311,134
  • May 3, 2012 4:04am May 3, 2012 4:04am
I hear what yoiu are saying there mate but

1. Weekly candle is not closed - a candle is not a candle until closed no matter how it looks
2. Weekly t/f bears little relation to the sub 1hr t/f's that I operate on for eg...ie the low time frames,
3. anything can happen
4. Long lower wicks at the top of a swing (ie hanging man) can indicate downside to come may be the greater probability) but long lower wicks elsewhere and as I commented on - on yesterday and day before's daily candle can indicate buyers on the dip and this is seen more clearly on 4hr/1hr- this said there has been downside follow thru on yesterday's close.

Appreciate your comments , always different ways of looking at things - not an exct science - TA !

G/L


Quoting Bones
Please (low time frame traders)check you weekly now !!

TODAY IS THURSDAY whats shaping up ???
ex member
  • #311,135
  • May 3, 2012 4:04am May 3, 2012 4:04am
Quoting A-speculator
that is because of eu pulling eg down. give cable enough time, and i think it will go down after eg completed it's move.

  • #311,136
  • May 3, 2012 4:05am May 3, 2012 4:05am
Quoting PoundTrader
im crazy too, i only made 32 pips so far this week http://www.pic4ever.com/images/4fvgdaq_th.gif
another fck up week to be trading
http://www.pic4ever.com/images/banana_smiley_10.gif
  • #311,137
  • May 3, 2012 4:06am May 3, 2012 4:06am
Quoting Nachiket
1.6151 make or break.

I got it.. it seems like something hold on it... ~.~a
Golden Goose Return This Month: na
  • #311,138
  • May 3, 2012 4:08am May 3, 2012 4:08am
Quoting lampuah
I got it.. it seems like something hold on it... ~.~a

it will come down today. i think after unemployment claims. qe3 news keeping it up.
  • #311,139
  • May 3, 2012 4:09am May 3, 2012 4:09am
Cool but your wrong you can look at weekly and say this pair is bearish ,just trying to help

Quoting bbmac
I hear what yoiu are saying there mate but

1. Weekly candle is not closed - a candle is not a candle until closed no matter how it looks
2. Weekly t/f bears little relation to the sub 1hr t/f's that I operate on for eg...ie the low time frames,
3. anything can happen
4. Long lower wicks at the top of a swing (ie hanging man) can indicate downside to come may be the greater probability) but long lower wicks elsewhere and as I commented on - on yesterday and day before's daily candle can indicate buyers on the dip and this is seen more clearly...
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #311,140
  • May 3, 2012 4:09am May 3, 2012 4:09am
Having gone up through 1.6165 last Wednesday (a high from Oct last), albeit slowly, it is now trying to break back down for the third time. If that S/R lasts, then the only way is up: 1.6330, 1.6465 and who knows after that.

I have placed a Buy for 1.61667 with a 15-pip S/L, but it has not been triggered yet.

Cable is so slow these days. It makes it very frustrating to trade, IMHO.
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