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-   -   Cable Update (GBPUSD) (https://www.forexfactory.com/showthread.php?t=10378)

mozan72 Feb 4, 2009 9:04am | Post# 117881

Draw a horizontal trend line at 4472 and you will see the brick wall it must break thru to higher. Critical resistance point and it has failed twice already today. That is line in the sand for continuation. She test and fails again with 1 hr showing trade signal expect her to test and break 4410. I am with dollar shorts and expect a break on next test. ISM at 10am could be trigger because most fundamental news triggers technical indicators
i think if it break out 4488 it will go to 4565

Professor4x Feb 4, 2009 9:06am | Post# 117882

hands tied must wait on market. Break time

JammerJams Feb 4, 2009 9:07am | Post# 117883

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stack at 4520. Must clear 4510 to be true break out. If she goes will stack to increase return. Clear sailing on break.

I see three strong signs here..

A bullish Outter trend Line that has been building upward for some time now..
There is a also a New Inner Upward trend line past couple hours..

All periods up to the 4 hr is over 50 level Bullish indicator

But I will not enter until a clear break of the 4520 is sustained as well stated by the Professor.
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nAVIN2007 Feb 4, 2009 9:08am | Post# 117884

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i got a feeling my target might be reached today
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nAVIN2007 Feb 4, 2009 9:16am | Post# 117885

tony are u long buddy due to the piercing formation on weekly?

Ipips Feb 4, 2009 9:17am | Post# 117886

patience everyone...

Bones Feb 4, 2009 9:23am | Post# 117887

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No Nav I am waiting its crunch time ,interest rate cut tomorrow ??? Effect??
Two touches at 495 now ? thinking I should have taken short
Looking for break or failure

I see your trading so well Nav

tony are u long buddy due to the piercing formation on weekly?
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mozan72 Feb 4, 2009 9:27am | Post# 117888

i got a feeling my target might be reached today
now i think it only need more momentum 2 go up...after it break out 4488

nAVIN2007 Feb 4, 2009 9:28am | Post# 117889

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No Nav I am waiting its crunch time ,interest rate cut tomorrow ??? Effect??
Two touches at 495 now ? thinking I should have taken short
Looking for break or failure

I see your trading so well Nav
yes i suppose im doing ok...only ok cause it is a demo and not sure if i was on live id be trading like this..but i think i have improved on the technical front

out of interest bro! did u not see the piercing formation on weekly as a buying opportunity?

i am still trying to get to grips with larger time frames
if we get a pin on 1hr then i will likely exit and maybe short.....its looking like a brick wall right now
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uut Feb 4, 2009 9:36am | Post# 117890

1.4495 is a good resitstance, isn it?

wormboy Feb 4, 2009 9:36am | Post# 117891

crap, looks like i'm the only one anticipating it to go south! damn, what am i looking at that is different? need to check again

Bones Feb 4, 2009 9:37am | Post# 117892

I absolutely did Nav but was warned against it ,to me it looks very Bullish ,but there have been a lot of fake bullish signals around the the end of month times I need the Piercing Line confirmed to me it looks great.
Confirmation on break and daily close for me.

trader2160 Feb 4, 2009 9:38am | Post# 117893

Hmm,that was a rather hard slap down.

kevinsw Feb 4, 2009 9:39am | Post# 117894

1.4495 is a good resitstance, isn it?
I agree, to bad I didn't pull the trigger for a short. I guess that is what happens when you are out of practice?

EDIT... looking at 15m and 30m charts that is

nAVIN2007 Feb 4, 2009 9:40am | Post# 117895

I absolutely did Nav but was warned against it ,to me it looks very Bullish ,but there have been a lot of fake bullish signals around the the end of month times I need the Piercing Line confirmed to me it looks great.
Confirmation on break and daily close for me.

Bones Feb 4, 2009 9:40am | Post# 117896

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its looking like a brick wall right now
It is Nav
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nAVIN2007 Feb 4, 2009 9:44am | Post# 117897

It is Nav
great analysis as usaul bro..keep the pips flying cannot debate that chart at all
we have found bricks!

kevinsw Feb 4, 2009 9:50am | Post# 117898

1.4500
 
Being how I am just now getting back into the swing of things I must ask your opinions.

15m up to 1hr charts, if it fails to breach the 1.4500 mark and is rejected again would be a good time to short if only for a scalp.

what say you?

cesarg Feb 4, 2009 9:53am | Post# 117899

crap, looks like i'm the only one anticipating it to go south! damn, what am i looking at that is different? need to check again

in my view of the 1h chart looks like a bearish wedge formation. started around 1-9 and almost at the end of the way... around 1.45 looks like top, so to me, is going south too... but who knows...

nAVIN2007 Feb 4, 2009 9:56am | Post# 117900

looks like bricks were found and maybe moved


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