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Cable Update (GBPUSD)

  • #59,761
  • Mar 28, 2008 4:24am Mar 28, 2008 4:24am
Quoting bbmac
Nice H&S in 1hr gbpusd played/playing out?
bbmac, yes I noticed that too. Looks nice. I went short yesterday at 2.0105 at a fib retracement on the 4 hr with stochs turning down. But overall my bearish sentiment was due to the weekly and daily charts. It's playing out ok so far. Will see what news does at 09.30GMT but I'm holding the position. with SL at BE.
  • #59,762
  • Mar 28, 2008 4:24am Mar 28, 2008 4:24am
Quoting bbmac
yeh the screenshot shows yesterdays doji on Daily chart
Yea right, i said that 18 hours ago here, nobody listened to the old man The price was still 2.007x something..
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  • #59,763
  • Mar 28, 2008 4:28am Mar 28, 2008 4:28am
we certainly had the regular bearish divergence in the 4hr oscillators at yesterdays high
Attached Image
ex member
  • #59,764
  • Mar 28, 2008 4:35am Mar 28, 2008 4:35am
Quoting abuzant
Yea right, i said that 18 hours ago here, nobody listened to the old man The price was still 2.007x something..
Hey Abuzant ...you don't look THAT old in your profile!
  • #59,765
  • Mar 28, 2008 4:37am Mar 28, 2008 4:37am
Quoting priceaction
Hey Abuzant ...you don't look THAT old in your profile!
years in a dealing room is enough to make every single hair on your body totally WHITE
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  • #59,766
  • Mar 28, 2008 5:02am Mar 28, 2008 5:02am
4hr chart shows that this 9930/20 area has been both support and resistance in the recent past.
Attached Image (click to enlarge)
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ex member
  • #59,767
  • Mar 28, 2008 5:05am Mar 28, 2008 5:05am
Quoting abuzant
years in a dealing room is enough to make every single hair on your body totally WHITE
Man that’s so true ,lol, but really I wouldn’t say old, cause that makes me old.
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #59,768
  • Mar 28, 2008 5:07am Mar 28, 2008 5:07am
Quoting bbmac
4hr chart shows that this 9930/20 area has been both support and resistance in the recent past.
Yes ...annoying isn't it
  • #59,769
  • Mar 28, 2008 5:09am Mar 28, 2008 5:09am
Quoting bbmac
4hr chart shows that this 9930/20 area has been both support and resistance in the recent past.
yes its a price pivot zone.
The pin on the daily is nice but is it in traffic?
Not sure what one to go with this one or last weeks,lol
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #59,770
  • Mar 28, 2008 5:18am Mar 28, 2008 5:18am
local support and resistance shows up clearly on 5min atm;
Attached Image
ex member
  • #59,771
  • Mar 28, 2008 5:30am Mar 28, 2008 5:30am
Quoting tomaz55
guys i think we are at a very important cross road, i just went SHORT at 2.0085

my target is 1.9850 with 60pip stop

i've been at this for a long time, and i see the tecnicals lined up. its one of those occasions where for me trading is easy, or either i'm stopped out or hopefully i get +235, point is i wont be staring at the screen every 5mins..

gl to all
closed short at 1.9950 for +135
  • #59,772
  • Mar 28, 2008 5:50am Mar 28, 2008 5:50am
Quoting tomaz55
closed short at 1.9950 for +135
I have to go out. I've placed n SL just above the range (2.0002). If it stops me out I'll have got 100 pips, but if breaks support, I'm still in the trade. Either way, a nice way to end the week.

Good luck everyone & a good weekend.
  • #59,773
  • Mar 28, 2008 5:58am Mar 28, 2008 5:58am
cable channelling now between that local support and resistance, any views?
Attached Image (click to enlarge)
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ex member
  • #59,774
  • Mar 28, 2008 6:03am Mar 28, 2008 6:03am
short 1.9966 stop above 2k

tp 9840
  • #59,775
  • Mar 28, 2008 6:05am Mar 28, 2008 6:05am
bye for now Rob/priceaction.
G/l Tomaz55
ex member
  • #59,776
  • Mar 28, 2008 6:07am Mar 28, 2008 6:07am
Quoting tomaz55
short 1.9966 stop above 2k

tp 9840
right direction,,,, not a good entry....
it will hurt u feeling if cable touch 2 and then heading south..and it looks very likely to happen
  • #59,777
  • Mar 28, 2008 6:11am Mar 28, 2008 6:11am
congestion/channelling most likley scenarios.

Cable channelled now between that local support and resistance, screenshot shows most likley scenarios re channelling/congestion. A and B are effectively the 'congestion 2nd Breakout' phenomenon, C is the bull/bear trap
Attached Image (click to enlarge)
Click to Enlarge Name: congestion.GIF Size: 8 KB
ex member
  • #59,778
  • Mar 28, 2008 6:15am Mar 28, 2008 6:15am
Quoting winwise
right direction,,,, not a good entry....
it will hurt u feeling if cable touch 2 and then heading south..and it looks very likely to happen
i know, thats why i just sold more at 9975 and have another SELL order at 2k just in case it reaches
  • #59,779
  • Mar 28, 2008 6:17am Mar 28, 2008 6:17am
Looking at the hourly GBPUSD chart, market has just finished a head and shoulders patterning. We are now expecting a move to around 1.9770 levels. Bulls should be very cautious with their positions, stops at 1.9997 if there should be a bounce back up to around 2.0080.
Kind regards,
MIG Investments SA
Research Team
ex member
  • #59,780
  • Mar 28, 2008 6:26am Mar 28, 2008 6:26am
my position is the ppz has held for the min I have no idea if the pin is a good one
Attached Image (click to enlarge)
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