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Cable Update (GBPUSD)

  • #315,101
  • May 29, 2012 3:44pm May 29, 2012 3:44pm
Hey bb im looking at channel situ ,there a whole lot of res above now if it moves in ,you could see wick ,i feel

also mind the gap ,strong point


Quoting _BBKing_
closed my long for some pips.
reason: not yet a long, things looks no good yet.

possible move deep into 1.55 area and no reason to risk a draw down, even if small, since i see that is possible more down. would be stupid.

i will be looking for entry short bit higher from here (5650?!) or entry long lower near 5550 5540.
Attached Image (click to enlarge)
Click to Enlarge Name: gbp usd 29-5 h4.gif Size: 20 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #315,102
  • May 29, 2012 3:44pm May 29, 2012 3:44pm
Quoting Kaloo5
Good call BB.
I closed out my long at 1.5640 and took profits, looking to re-enter a short around the same area (1.5650)
yes would be stupid to hold such a staggering position! better close and wait. market will not go far without giving other entries!

i'm interested to look short 5650-70 range and look for longs 5540-60 range.
depening on price action.

also must be careful in short despite strong downtrend, the more goes down, the more i will expect stronger demand, which actually looks very shy. maybe tomorrow will tell more things!

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  • #315,103
  • May 29, 2012 3:47pm May 29, 2012 3:47pm
see the top ,consollidation area then break to otherside strong trend wave one lol (im not expert )

Something sim coming
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  • #315,104
  • May 29, 2012 3:48pm May 29, 2012 3:48pm
Quoting Bones
Hey bb im looking at channel situ ,there a whole lot of res above now if it moves in ,you could see wick ,i feel

also mind the gap ,strong point
interesting channel setup!
and yes shows more reasons to close my long: assuming will go up, i will be able to pick it more and more and more again!
from here, bulls looks still in trouble


meanwhile... something cooking in AU
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90% of traders use TA, indicators and prediction
  • #315,105
  • May 29, 2012 3:50pm May 29, 2012 3:50pm
lol catch you guys later
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  • #315,106
  • May 29, 2012 3:51pm May 29, 2012 3:51pm
Quoting _BBKing_
yes would be stupid to hold such a staggering position! better close and wait. market will not go far without giving other entries!

i'm interested to look short 5650-70 range and look for longs 5540-60 range.
depening on price action.

also must be careful in short despite strong downtrend, the more goes down, the more i will expect stronger demand, which actually looks very shy. maybe tomorrow will tell more things!

I come from trading warrants and shares for many years before moving to Forex, and have been trading this for just under a year now.
My system is not perfect, but it works for me.
I have learnt much from you guys, mostly discipline and trusting your system.
Thank you and every other trader here who shares their knowledge.
Show Me Your Pips!!!
  • #315,107
  • May 29, 2012 3:52pm May 29, 2012 3:52pm
Quoting _BBKing_
interesting channel setup!
and yes shows more reasons to close my long: assuming will go up, i will be able to pick it more and more and more again!
from here, bulls looks still in trouble


meanwhile... something cooking in AU
hahaha... I like this
Show Me Your Pips!!!
  • #315,108
  • May 29, 2012 3:54pm May 29, 2012 3:54pm
if breakes again here IMO will see a LL near 9760 again
maybe some problems if reach 9800.
let's see
Attached Image (click to enlarge)
Click to Enlarge Name: Chart_AUD_USD_5 Mins_snapshot.png Size: 11 KB
90% of traders use TA, indicators and prediction
  • #315,109
  • May 29, 2012 3:56pm May 29, 2012 3:56pm
Quoting Kaloo5
I come from trading warrants and shares for many years before moving to Forex, and have been trading this for just under a year now.
My system is not perfect, but it works for me.
I have learnt much from you guys, mostly discipline and trusting your system.
Thank you and every other trader here who shares their knowledge.
also me in the past was trading stock markets. world was different.
now forex is crazy and there is a big confusion about so many things.
the simpler, the better

edit: thanks for the "thanks" .. i'm simply showing what i learnt here in the past! ;-)
90% of traders use TA, indicators and prediction
  • #315,110
  • May 29, 2012 4:01pm May 29, 2012 4:01pm
hey look K that wave down ,look as if same size wave hits my target

some kind of drive thingy

good luck all


Quoting Kaloo5
I come from trading warrants and shares for many years before moving to Forex, and have been trading this for just under a year now.
My system is not perfect, but it works for me.
I have learnt much from you guys, mostly discipline and trusting your system.
Thank you and every other trader here who shares their knowledge.
Attached Image (click to enlarge)
Click to Enlarge Name: gbp usd 29-5 h4 2.gif Size: 21 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #315,111
  • May 29, 2012 4:15pm May 29, 2012 4:15pm
Quoting Bones
hey look K that wave down ,look as if same size wave hits my target

some kind of drive thingy

good luck all
So if the upside break fails, we shorting
Show Me Your Pips!!!
  • #315,112
  • May 29, 2012 4:21pm May 29, 2012 4:21pm

and what about considering the top area as main channel building?
in this case also those 2 bottoms are lined up.

anyway i prefer to read price in horizontal levels...
Attached Image (click to enlarge)
Click to Enlarge Name: Chart_GBP_USD_4 Hours_snapshot.jpg Size: 81 KB
90% of traders use TA, indicators and prediction
  • #315,113
  • May 29, 2012 4:26pm May 29, 2012 4:26pm
you bet ,

Quoting Kaloo5
So if the upside break fails, we shorting
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #315,114
  • May 29, 2012 4:30pm May 29, 2012 4:30pm
I can tell you guys somthing ,the $ dont sell it

Its above swing high (usdlfx w1 )

And to me 1.7200 looks tasty
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  • #315,115
  • May 29, 2012 4:42pm May 29, 2012 4:42pm
and gbp ,it looks bearish ,you could say working across channel ,consolidating down ,also would be 3rd touch ,confirms then your on right side ,yes ?
Attached Image (click to enlarge)
Click to Enlarge Name: gbp lfx 30-5.gif Size: 41 KB
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  • #315,116
  • May 29, 2012 4:58pm May 29, 2012 4:58pm
Possible targets .. -

http://imgs.su/tmp/2012-05-30/1338335790-575.jpg
  • #315,117
  • May 29, 2012 5:20pm May 29, 2012 5:20pm
also


Quoting Bones
and gbp ,it looks bearish ,you could say working across channel ,consolidating down ,also would be 3rd touch ,confirms then your on right side ,yes ?
Attached Image (click to enlarge)
Click to Enlarge Name: gbp lfx d1 29,5 2.gif Size: 23 KB
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  • #315,118
  • May 29, 2012 6:00pm May 29, 2012 6:00pm
Quoting Flynchenberg
Well done , even if it is demo.


Seb
Ya this is a demo account...but my real account is running parallel...I do same on both accounts...both accounts are doubled....

Anyway keep pippin...guys...short...

If i were you i don't think of long ..just keep shorting i have been shorting from 1.60 and never turned back...so,i think bottom will be at 1.52...

I think regarding olympics..GBP wants there pound to be cheap..so that lot of people can come to UK...just a thought....
I am a hunter...i kill both bulls and bears...
  • #315,119
  • May 29, 2012 6:03pm May 29, 2012 6:03pm
$ bullish move over 1.7000 h4 just closed ,heads up
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  • #315,120
  • May 29, 2012 6:15pm May 29, 2012 6:15pm
Quoting Bones
$ bullish move over 1.7000 h4 just closed ,heads up
As much as I hate to say it, I'm fully into it shorting GU some more this week
LOL...
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