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Cable Update (GBPUSD)

  • #317,561
  • Jun 27, 2012 12:56pm Jun 27, 2012 12:56pm
Quoting Ill-b-back
Hopped out of all my longs this morning and went short.
I see 5465 area as a strong area of interest this week for a number of reasons.
line in 2 top charts, should be on 61.8 fib, but 50 fib also area of interest
Come with me if you want to live....
  • #317,562
  • Jun 27, 2012 1:31pm Jun 27, 2012 1:31pm
Quoting Ill-b-back
line in 2 top charts, should be on 61.8 fib, but 50 fib also area of interest
Although with regards to the 50 fib, current Price Action would suggest
NEIN, NEIN, NEIN
Come with me if you want to live....
  • #317,563
  • Jun 27, 2012 3:15pm Jun 27, 2012 3:15pm
Quoting Ill-b-back
Although with regards to the 50 fib, current Price Action would suggest
NEIN, NEIN, NEIN

ehhehe
right!
also the 61% fibo is now just near great proved demand area.
let's see...
looking PA we could see those 2 levels just tomorrow

....problem is with the 50% fib @5780....
90% of traders use TA, indicators and prediction
  • #317,564
  • Jun 27, 2012 3:30pm Jun 27, 2012 3:30pm
Quoting _BBKing_
ehhehe
right!
also the 61% fibo is now just near great proved demand area.
let's see...
looking PA we could see those 2 levels just tomorrow

....problem is with the 50% fib @5780....
Hi BB, I think that level maybe reserved for later but depends on the summit.
My technicals are telling me the summit will be a failure
I think 5465 is very much on the cards.
The thing is, if we break that level, I think we could revisit Mays low later on
I'm not at home to see levels but downtrend looks in tact (I think).
Summit outcome will tell the story though I think.
Come with me if you want to live....
  • #317,565
  • Jun 27, 2012 4:01pm Jun 27, 2012 4:01pm
Quoting Ill-b-back
Hi BB, I think that level maybe reserved for later but depends on the summit.
My technicals are telling me the summit will be a failure
I think 5465 is very much on the cards.
The thing is, if we break that level, I think we could revisit Mays low later on
I'm not at home to see levels but downtrend looks in tact (I think).
Summit outcome will tell the story though I think.
uhm... just few hours ago i was thinking about these summit.
you are the first one mentioning it in here. or maybe i missed some posts...


how many damn summits did we see in last 4 years to find a solution for european problems? i bet that with money spent in those summits, we cold have already payed some debts (lol). just in the middle of the internet age.

anyway, there are 2 directions: up, or down.
Imo, the summit MUST give solutions this time.
if no CLEAR solutions, next week EU will have already crashed lows to go for 1.21. USD buy mania again etc....
if solutions and something more than an HOPE... maybe we see the so very much welcome short covering in everything. so next week we go for 1.29 and 1.59 etc..

meanwhile gold and commodities went so much down these months. a lot of analyst expecting a recover in next 6 months, problem is that actually there is no sign because of no QE n blah blah blah. the trigger could definetly come from this summit!

i will trade in the london. then close everything, loss or profits no matter what. then will wait n see. levels are becoming larger so will be time to get the moves later

furthermore will be in holidays till monday so... better i play safe and close the week without any kind of pressure!
90% of traders use TA, indicators and prediction
  • #317,566
  • Jun 27, 2012 4:05pm Jun 27, 2012 4:05pm
Quoting Ill-b-back
Hi BB, I think that level maybe reserved for later but depends on the summit.
My technicals are telling me the summit will be a failure
I think 5465 is very much on the cards.
The thing is, if we break that level, I think we could revisit Mays low later on
I'm not at home to see levels but downtrend looks in tact (I think).
Summit outcome will tell the story though I think.

about the 5780 what i meant is: price found very strong reject just there!! could mean that we will not see that level broken easily....
90% of traders use TA, indicators and prediction
  • #317,567
  • Edited Jun 28, 2012 12:12am Jun 27, 2012 4:21pm | Edited Jun 28, 2012 12:12am
Quoting redbeben
please keep an eye on 1.5589-5593 KS line and TS line cmon,you know it better on the ichi
tq for your reminder bro ...

http://www.forexfactory.com/attachme...7&d=1340803345
Quoting iqyu5an
http://www.forexfactory.com/attachme...1&d=1340787795
http://www.forexfactory.com/attachme...3&d=1340691336
Attached Image(s) (click to enlarge)
Click to Enlarge Name: pvj532.gif Size: 16 KB
Click to Enlarge Name: pvj534.gif Size: 10 KB
not euphoria follower
  • #317,568
  • Jun 27, 2012 4:38pm Jun 27, 2012 4:38pm
Quoting iqyu5an
tq for your reminder bro ...

http://www.forexfactory.com/attachme...7&d=1340803345
Well I'll be a dogs breakfast, how many pets do you have man?
These are crazy times so anything can happen I guess.
Come with me if you want to live....
  • #317,569
  • Jun 27, 2012 6:13pm Jun 27, 2012 6:13pm
I did take another short at 1.5595, s/l 1.5673, t/p 1.5525 with half the lots i always trades, trying to keep 90% of the pips i made this week, good luck to all
  • #317,570
  • Jun 27, 2012 6:27pm Jun 27, 2012 6:27pm
Quoting TauTrader
Good day,

Going to attempt a long position here @ 1.5550

SL just below @ 1.5526

Regards
Closing here @ 1.5584

Regards
  • #317,571
  • Jun 27, 2012 6:36pm Jun 27, 2012 6:36pm
Quoting iqyu5an
tq for your reminder bro ...

http://www.forexfactory.com/attachme...7&d=1340803345

Previously, i had 4 long position averaging down when bearsih to 1.5550. Started from 1.5555, on the way back i've closed 3 of them for some pips. So still one long, exzactly at 1.5587, this is strong resistance level.
in my chart, atm 1.5590 exzatcly at daily moving average line, if it done, next is 1.5605, we will see.
Another long will be added incase moving more than 1.5605, or stop loss will be done manually later in case in the opposite direction of my trading plan...
  • #317,572
  • Jun 27, 2012 7:01pm Jun 27, 2012 7:01pm
Yip -

Looking at the 1hr, this move off support still has legs to move higher than the current level. Not sure how much fuel, but time will tell.

Regards
  • #317,573
  • Jun 27, 2012 7:03pm Jun 27, 2012 7:03pm
  •  eggs
  • | Joined Nov 2011 | Status: Everybodys A Central Banker Here... | 819 Posts
Quoting iqyu5an
tq for your reminder bro ...

http://www.forexfactory.com/attachme...7&d=1340803345

iqyu5an. First I would like to say I appreciate the time you take to post the harmonic patterns. It is an outlook on the market that is often overlooked here on the forum. Secondly. I would like to offer you a sincere apology for my harsh words to you a couple of months ago. I had no right to say the things that I did nor take the tone I did. I hope you will accept my apology.
  • #317,574
  • Jun 27, 2012 7:06pm Jun 27, 2012 7:06pm
Quoting BioFX
Im short on USDJPY at 79.80 SL 80.15 TP 79.30
SL moved to BE and stoped out by trailing at 79.51
Couple of longs closed manually at 1.5584 with a few green pips. I donīt want to keep open trades ATM up to londonīs open. Just can go up or down, but it seems like I have to choose from 10 options!
  • #317,575
  • Jun 27, 2012 7:11pm Jun 27, 2012 7:11pm
Maybe 20 pips to catch on EURUSD, short 1.2486 SL 1.2492 TP 1.2466

Mmm... donīt be greedy Iīll wait but R:r is so tempting
  • #317,576
  • Jun 27, 2012 7:19pm Jun 27, 2012 7:19pm
Quoting BioFX
Maybe 20 pips to catch on EURUSD, short 1.2486 SL 1.2492 TP 1.2466

Mmm... donīt be greedy Iīll wait but R:r is so tempting
Well, Iīm in...
1.2487 SL 1.2502 TP 1.2457 will see...
  • #317,577
  • Jun 27, 2012 7:41pm Jun 27, 2012 7:41pm
Good day all,

I hope everyone enjoyed the shorts last london open.

something to share,

If you want to forecast the next hourly market's volatility (slow or agressive), you gotta need ATR (average true range).

Set the period to 14 or 20 day.
works well in H1 but not H4 and above! (warning)

"Understand atr before interpreting it"

When you know market's volatility (slow/agressive), then you will be aware of your SL and TP range (target)


Ubu
I trade to live
  • #317,578
  • Jun 27, 2012 7:51pm Jun 27, 2012 7:51pm
Good day,

Looks like we are heading slightly lower first - may be a good opportunity to reload long... that is what I will be looking for.

1hr still in favour of higher.
  • #317,579
  • Jun 27, 2012 8:49pm Jun 27, 2012 8:49pm
i am done......last long at 15587 closed at 1.5597......Waiting for better momentum and clearer indacator...Euro Summit will determine situation....

Play safely everybody
  • #317,580
  • Jun 27, 2012 9:20pm Jun 27, 2012 9:20pm
Quoting Red Alert
i am done......last long at 15587 closed at 1.5597......Waiting for better momentum and clearer indacator...Euro Summit will determine situation....

Play safely everybody
Loaded Short @ 1.5592, SL@ 1.5610, Initial TP (Scale out 70% on approach) @ 1.5550

Reasoning... We are under the EMA200 Green line on the M15, with previous rejections
MACD and Stochs are Rolling over to the downside
Top right indicators signalling an overall bearish trend, though H1 is a disagreeing, longer TF will prevail...
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdm15.28062012.1220.gif Size: 26 KB
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