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Cable Update (GBPUSD)

  • #388,221
  • Jul 22, 2014 3:51am Jul 22, 2014 3:51am
Bull and Bear ......

USDLFX H4 wait to break the resistance to make new high......

GBPLFX H4 in the middle of complicated area to going higher......

Cheers
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GBPLFXH4.png Size: 44 KB
Click to Enlarge Name: USDLFXH4.png Size: 41 KB
  • #388,222
  • Jul 22, 2014 4:15am Jul 22, 2014 4:15am
Quoting albchr
{quote}
MPC...
  • #388,223
  • Jul 22, 2014 4:41am Jul 22, 2014 4:41am
Hello thread people,

lots of sellers still around off that recent 7191 high. 7 times that area caused either buying or selling....see monthly chart below. Lots of fibs below the recent 7035 low.

best wishes.
Attached Image (click to enlarge)
Click to Enlarge Name: zm.jpg Size: 82 KB
it's all gone a bit........
  • #388,224
  • Jul 22, 2014 4:41am Jul 22, 2014 4:41am
great post...thanks to you.

Quoting giveachance
*$1.7143-55 Jul17 high-76.4% $1.7192-1.7037 *$1.7133 61.8% $1.7192-1.7037 *$1.7118 Jul18 high/Offers to $1.7120, stops on break *$1.7110-15 Strong offers/$1.7115 50% $1.7192-1.7037 *$1.7102 Strong offers/21-dma(rate closed below Fri $1.7097) *$1.7099 Jul21 high/76.4% $1.7118-1.7037 (Fri range) *$1.7089 76.4% $1.7099-56 *$1.7083 Int.Day high Europe(61.8% $1.7099-56), Asia $1.7082 *$1.7067 ***Current market rate 0758GMT Tuesday *$1.7066 Int.Day low Europe(61.8% $1.7056-83), Asia $1.7069 *$1.7056-52 Jul21 low/76.4% $1.7037-99 *$1.7050 Medium demand...
it's all gone a bit........
  • #388,225
  • Jul 22, 2014 4:52am Jul 22, 2014 4:52am
Quoting JimmyC
{quote} MPC...
Yeah ..
Ghost Rider - WWTBMD?
  • #388,226
  • Jul 22, 2014 4:58am Jul 22, 2014 4:58am
Quoting petetong
Hello thread people, lots of sellers still around off that recent 7191 high. 7 times that area caused either buying or selling....see monthly chart below. Lots of fibs below the recent 7035 low. best wishes. {image}
Yep. We are certainly at a point now.
Ghost Rider - WWTBMD?
  • #388,227
  • Jul 22, 2014 5:26am Jul 22, 2014 5:26am
May go to 1.7076.........and then 1.7048/47
  • #388,228
  • Jul 22, 2014 5:49am Jul 22, 2014 5:49am
Quoting JimmyC
{quote} MPC...
talk is MPC may signal a rate hike in October or not. if it doesn't GBP may come down atleast 100-200 pips.
  • #388,229
  • Jul 22, 2014 6:52am Jul 22, 2014 6:52am
GBPUSD seems to drop back towards testing a trend-line support near 1.7020 area.
Holding short and would turn cautious only if moves back above 1.7080.
Attached Image
  • #388,230
  • Jul 22, 2014 7:32am Jul 22, 2014 7:32am
Just made it in to the office... See my pending order has been taken.

Sell @ 1.70724
SL @ 1.70847
TP @ 1.70478

As always, risking 2% to make 4%.

Although, I have been considering bumping up my risk to 3% to make 6%, just because the number of trades I take is limited to the 4 hour chart. Unlike someone trading the 5 or 15 min charts may take many trades in a day, I'm stuck usually with 1 or 2 a week.
  • #388,231
  • Jul 22, 2014 7:54am Jul 22, 2014 7:54am
20 pips up in half an hour on red US news.
  • #388,232
  • Jul 22, 2014 7:55am Jul 22, 2014 7:55am
Quoting OnlineAddict
I will be trading this, when the week starts. Have a good weekend, everyone.
Attached Image
First move worked out, we got 7060, even lower. Now will the 2nd workout, too? We need to break 7084 and then 71, won't be easy.
Everyone can see the chart, but only a few can actually read it.
  • #388,233
  • Jul 22, 2014 8:02am Jul 22, 2014 8:02am
Good Morning Forex Factory Members and Guests

I remain short

1.7190 Short
1.7045Short
1.6900 Take Profit
1.6750 Extended Take Profit depending on price action upon reaching 1.6900


@albchr:

PATIENCE, PATIENCE, PATIENCE

HDA OUT
  • #388,234
  • Jul 22, 2014 8:08am Jul 22, 2014 8:08am
Quoting Nate04
Just made it in to the office... See my pending order has been taken. Sell @ 1.70724 SL @ 1.70847 TP @ 1.70478 As always, risking 2% to make 4%. Although, I have been considering bumping up my risk to 3% to make 6%, just because the number of trades I take is limited to the 4 hour chart. Unlike someone trading the 5 or 15 min charts may take many trades in a day, I'm stuck usually with 1 or 2 a week.
It appears I'm close to be stopped out... Oh well, if it happens, it happens. Just gotta win 4 out of 10.
  • #388,235
  • Jul 22, 2014 8:09am Jul 22, 2014 8:09am
Some more US news expected withing an hour. If that goes red, then we will be back above 107.90
  • #388,236
  • Jul 22, 2014 8:11am Jul 22, 2014 8:11am
Quoting kweiss10
Some more US news expected withing an hour. If that goes red, then we will be back above 107.90
I hope its green, never got my double bottom on M1 to enter my long. Now it might be over for longs today and just some short scalps...ah well...
Everyone can see the chart, but only a few can actually read it.
  • #388,237
  • Jul 22, 2014 8:13am Jul 22, 2014 8:13am
Quoting HDA
Good Morning Forex Factory Members and Guests I remain short 1.7190 Short 1.7045Short 1.6900 Take Profit 1.6750 Extended Take Profit depending on price action upon reaching 1.6900 @albchr: PATIENCE, PATIENCE, PATIENCE HDA OUT
Similar positions, I remain short too, but not looking at 1.6750, but 1.6950.
  • #388,238
  • Jul 22, 2014 8:14am Jul 22, 2014 8:14am
Quoting GlobalMacro
In longs here @ 1.7079 initial stop @ 1.6999 T/P: Open
Mostly sideways price action in the last couple of days on top of a bullish trend.

Continuing to maintain my long position.

Cable now trading @ 1.7073
Hear the music before the song is over ...
  • #388,239
  • Jul 22, 2014 8:16am Jul 22, 2014 8:16am
Quoting GlobalMacro
{quote} Mostly sideways price action in the last couple of days on top of a bullish trend. Continuing to maintain my long position. Cable now trading @ 1.7073
1.7098 should offer resistance.
Intraday only.
  • #388,240
  • Jul 22, 2014 8:16am Jul 22, 2014 8:16am
Quoting HDA
Good Morning Forex Factory Members and Guests I remain short 1.7190 Short 1.7045Short 1.6900 Take Profit 1.6750 Extended Take Profit depending on price action upon reaching 1.6900 @albchr: PATIENCE, PATIENCE, PATIENCE HDA OUT
Reminds me of another zen master...
Attached Image


Short @1.70744 SL1.70847 TP 1.704 for 1 lot then BE/1.70 for lot2, whichever first
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