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Cable Update (GBPUSD)

  • #48,501
  • Jan 7, 2008 10:44am Jan 7, 2008 10:44am
Quoting nonick
hi, could anyone tell me, whether my chart is technically correct?
If yes, can we expect the price to move towards 1.9625?


I would like to be able to tell you but honestly not qualified to say.
I would recommend you go back over last few days and pick up threads mentioned by others though and you may work it out for yourself.
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #48,502
  • Jan 7, 2008 11:13am Jan 7, 2008 11:13am
I have moved my by stop to 1.9715 dont like all this hanging around after such a big drop know that level is strong resistance
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  • #48,503
  • Jan 7, 2008 11:26am Jan 7, 2008 11:26am
buy got triggered there might just leave it for abit see what happens ,might be able to offload the buy on a revisit to the top of the channel if not offload the short on break of it.If this 30 min candle closes below the 1.9710 might offload the long for al loss
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  • #48,504
  • Jan 7, 2008 11:37am Jan 7, 2008 11:37am
Quoting AmeriTrini
a triangle is a shape, not a pattern.............lol............
hmmm, actually, triangles are patterns.
H&S
Double tops and botom
Broadening
all patterns,

pattern = shape
  • #48,505
  • Jan 7, 2008 11:41am Jan 7, 2008 11:41am
Just looking at my 4hr stoch (5,3,3) seems to have a hidden bearish divergence forming.
Anyone else seeing that ?

Carrera can you help ?
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  • #48,506
  • Jan 7, 2008 11:51am Jan 7, 2008 11:51am
droped long for a few pips
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  • #48,507
  • Jan 7, 2008 11:55am Jan 7, 2008 11:55am
Quoting Bones
Just looking at my 4hr stoch (5,3,3) seems to have a hidden bearish divergence forming.
Anyone else seeing that ?

Carrera can you help ?
You are correct, also momentum indicator shows the same thing clearly.
Attached Image
  • #48,508
  • Jan 7, 2008 12:05pm Jan 7, 2008 12:05pm
Quoting Carrera
You are correct, also momentum indicator shows the same thing clearly.
Thanks mate hoping it works right now ,if is correct my original target looks achievable
Open minded at the mo what about you
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  • #48,509
  • Jan 7, 2008 12:08pm Jan 7, 2008 12:08pm
what is your original target?
I didn`t find it in your previous posts
  • #48,510
  • Jan 7, 2008 12:11pm Jan 7, 2008 12:11pm
Quoting nonick
what is your original target?
I didn`t find it in your previous posts
Im short from 1.9731
Target 1.9636
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  • #48,511
  • Jan 7, 2008 1:31pm Jan 7, 2008 1:31pm
Does anyone think there will be a breakout through the possible trendline and the 38.2 fib shown on this monthly chart?
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD-MONTH.gif Size: 30 KB
  • #48,512
  • Edited 4:18pm Jan 7, 2008 4:07pm | Edited 4:18pm
Quoting Carrera
hmmm, actually, triangles are patterns.
H&S
Double tops and botom
Broadening
all patterns,

pattern = shape
tell that to a geometry teacher and watch them laugh at you. I can tell you didnt do very well at math, which is sad cuz you could do alot of damage in the forex with a very good math background.
  • #48,513
  • Jan 7, 2008 6:05pm Jan 7, 2008 6:05pm
Quoting Carrera
You are correct, also momentum indicator shows the same thing clearly.
I'd call this a bullish divergence - price heading down but the indicator suggests up.

I'm seeing a similar thing with H4 and D1 MACD suggesting a strong reversal.
A bounce off 19650/19652 weekly lows also agrees with this.
Darkness lies one inch ahead..
  • #48,514
  • Jan 7, 2008 6:07pm Jan 7, 2008 6:07pm
My analysis for today.. cable going up.
"Invest With The Insiders, Not The Masses" George Muzea
  • #48,515
  • Jan 7, 2008 6:08pm Jan 7, 2008 6:08pm
closed my 1.9731 short at 1.9675
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  • #48,516
  • Jan 7, 2008 6:22pm Jan 7, 2008 6:22pm
I THINK IS TOO EARLY FOR DETERMINING TRENDS.

Halifax report will set tone.
  • #48,517
  • Jan 7, 2008 7:10pm Jan 7, 2008 7:10pm
my entry order SELL GBP/USD 19752 is done , +60pips until now !
  • #48,518
  • Jan 7, 2008 7:11pm Jan 7, 2008 7:11pm
Quoting Qu|cksilver
My analysis for today.. cable going up.
Good morning QS, are u long? yesterday u said cable will go up to 9750 , it happen, and it came down back. So do u think today cable will go up higher?
  • #48,519
  • Jan 7, 2008 7:14pm Jan 7, 2008 7:14pm
Quoting tkh33
Good morning QS, are u long? yesterday u said cable will go up to 9750 , it happen, and it came down back. So do u think today cable will go up higher?
Im short now and long later... today cable might break yesterday high.
"Invest With The Insiders, Not The Masses" George Muzea
  • #48,520
  • Edited 7:33pm Jan 7, 2008 7:19pm | Edited 7:33pm
My daily strategy shows that sterling should finish up higher this month (was a close call though and it has been right for the past few months so it's due for an error at some time) but the weekly is pointing down suggesting a drop perhaps one of these weeks. Maybe GBP/USD might have quite a ride this Jan.
This side, the 4HR is still undecided which way it wants to join the party.

Gold weekly signals a move up too. So sterling could very well head on up before both kiss the ground.
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