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Cable Update (GBPUSD)

  • #341,261
  • May 20, 2013 7:49am May 20, 2013 7:49am
Quoting Red Alert
{quote} We will see, 1.522x area seems like too strong, i remain bearish,,,,
this is cuz of the lack of volume and momentum today with all the bank holidays in Europe.. But I don't how much pending orders are already in play around the current range.. may be the support or resistance may prove thinner than the other...

cheers..
I still need a trading break soon!!! "Loose some to win more" --Baher A.
  • #341,262
  • May 20, 2013 8:10am May 20, 2013 8:10am
Quoting Ri Dwe
{quote} The stronger the resistance, the higher it will run, someone is accumulating If it goes down I will add up my long positions.
1.5110 is the level I am waiting at the moment.
  • #341,263
  • May 20, 2013 9:19am May 20, 2013 9:19am
Quoting baherhosni
{quote} this is cuz of the lack of volume and momentum today with all the bank holidays in Europe.. But I don't how much pending orders are already in play around the current range.. may be the support or resistance may prove thinner than the other... cheers..
Hi Brother, yups exactly, low volume and less momentum.....maybe it will move higher just to kiss SL sellers before continuing down, maybe around at 1.524x area, (50% fibo from 1.5155 to 1.5530), we will see PA around there and let see where the cable will go
  • #341,264
  • May 20, 2013 10:09am May 20, 2013 10:09am
bulls may need to pay attention to MM and RM in anticipation for the completion of the followed HS pattern that should be nearing completion..

cheers..
I still need a trading break soon!!! "Loose some to win more" --Baher A.
  • #341,265
  • May 20, 2013 10:24am May 20, 2013 10:24am
Quoting Parox
{quote} 1.5110 is the level I am waiting at the moment.
For me, 15150 is enough
  • #341,266
  • May 20, 2013 10:35am May 20, 2013 10:35am
Yeah, for me i would be looking at 1.5160-1.5180 range.
1.522x range doesn't seem to be a strong resistance area to me, am thinking that it will probably test up to 1.5320 where that's the previous high resistance.
Knowledge is powerful tool that we can ever have.
  • #341,267
  • May 20, 2013 10:38am May 20, 2013 10:38am
Quoting Parox
{quote} 1.5110 is the level I am waiting at the moment.
1.5130 is OK for me
Make it simple, but not simpler - Einstein
  • #341,268
  • May 20, 2013 10:59am May 20, 2013 10:59am
  •  ysab
  • | Joined May 2013 | Status: Love the Prophet of mercy | 33 Posts
If the rate touch 1.524 and then reverse, target is 1.514 @ May 22

If the rate fail to touch 1.524 and then reverse, target is 1.511 @ May 22
  • #341,269
  • May 20, 2013 11:21am May 20, 2013 11:21am
Are the Bulls & Bears just staring at each other in this Room ? lol
Put in my SHORTS on GU, and waiting for a Collapse ...
  • #341,270
  • May 20, 2013 11:45am May 20, 2013 11:45am
Quoting taomql4
Are the Bulls & Bears just staring at each other in this Room ? lol Put in my SHORTS on GU, and waiting for a Collapse ...
its funny people dont realize that the H&S pattern i mentioned is targeting for a retest of the lows at 1.48xx and people see this temporary support at W%R 50% as a good reason to go long as we are moving down... typical retail traders getting trapped by the sucker zone...
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #341,271
  • May 20, 2013 11:52am May 20, 2013 11:52am
Yep...it's funny...to me that people do not see the H&S...and even if they do see the H&S they still try to fight it...in hope that it is not their...
Quoting fxtyrant
{quote} its funny people dont realize that the H&S pattern i mentioned is targeting for a retest of the lows at 1.48xx and people see this temporary support at W%R 50% as a good reason to go long as we are moving down... typical retail traders getting trapped by the sucker zone...
  • #341,272
  • May 20, 2013 11:59am May 20, 2013 11:59am
Quoting fxtyrant
{quote} its funny people dont realize that the H&S pattern i mentioned is targeting for a retest of the lows at 1.48xx and people see this temporary support at W%R 50% as a good reason to go long as we are moving down... typical retail traders getting trapped by the sucker zone...
If the First layer of supply doesn't get it , the Second one should ....( To complete the Shoulder ..)
Attached Image (click to enlarge)
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  • #341,273
  • May 20, 2013 12:11pm May 20, 2013 12:11pm
Well I'm all for the bulls. They keep providing wonderful levels from which to sell.

Keep it up folks.
Ghost Rider - WWTBMD?
  • #341,274
  • May 20, 2013 12:14pm May 20, 2013 12:14pm
Quoting taomql4
{quote} If the First layer of supply doesn't get it , the Second one should ....( To complete the Shoulder ..) {image}

just remember its not a Head n shoulder unless the neckline goes

im actually looking for a potential inverse
  • #341,275
  • May 20, 2013 12:23pm May 20, 2013 12:23pm
In my opinion there is no H&S Pattern before the price reaching back 1.54 level. At the same time that level means struggling back into the upward channel
Make it simple, but not simpler - Einstein
  • #341,276
  • May 20, 2013 12:35pm May 20, 2013 12:35pm
You guys need to go look at the daily and weekly charts and draw horizontal lines across the charts so you can see the H&S...get you a line chart and draw H-Lines then you will see what is going on...
  • #341,277
  • May 20, 2013 12:51pm May 20, 2013 12:51pm
Quoting Robby
You guys need to go look at the daily and weekly charts and draw horizontal lines across the charts so you can see the H&S...get you a line chart and draw H-Lines then you will see what is going on...
I am afraid, your view doesn't meet my requirement in performing H&S pattern. But it is OK to have different view, that what makes the market after all. For one buyer there is a seller
Make it simple, but not simpler - Einstein
  • #341,278
  • May 20, 2013 12:58pm May 20, 2013 12:58pm
No problem...that is how all the computer systems that trade money ID an H&S. That is the market way of seeing a H&S programmatic-lee. It's dose not madder...Since your are odd one out that would mean you are at the very for front so you would catch something that is false. For your sake I hope your right...I know what is going on. My previous posting show that...
Quoting Ri Dwe
{quote} I am afraid, your view doesn't meet my requirement in performing H&S pattern. But it is OK to have different view, that what makes the market after all. For one buyer there is a seller
  • #341,279
  • May 20, 2013 1:00pm May 20, 2013 1:00pm
Robby..please check PM.
  • #341,280
  • May 20, 2013 1:08pm May 20, 2013 1:08pm
Quoting nAVIN2007
{quote} just remember its not a Head n shoulder unless the neckline goes im actually looking for a potential inverse
hey bro..

actually, based on my theory, this HS completion is necessary for a power push up by the end of the month!! check my last post with a chart for the theory..

cheers
I still need a trading break soon!!! "Loose some to win more" --Baher A.
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