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Cable Update (GBPUSD)

  • #61,741
  • Apr 16, 2008 5:23am Apr 16, 2008 5:23am
to all the forex freaks out there, i'm short 9760 for a 9500 tp
  • #61,742
  • Apr 16, 2008 5:23am Apr 16, 2008 5:23am
Now, lets see if it does the norm. and goes back to test the 1.9800 area. And if it fails, it will create another double top. And we'll ride that.
  • #61,743
  • Apr 16, 2008 5:28am Apr 16, 2008 5:28am
Hey Guys, I found the culprit. Pull up the 1 hr and check this out. Im short.

Jim
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  • #61,744
  • Apr 16, 2008 5:30am Apr 16, 2008 5:30am
Quoting hard1head1
Now, lets see if it does the norm. and goes back to test the 1.9800 area. And if it fails, it will create another double top. And we'll ride that.

i sure hope not ..it looks like a clear break ..
  • #61,745
  • Apr 16, 2008 5:40am Apr 16, 2008 5:40am
Pull up a 5 min chart and check out the morning star, with nice little pin, right off of R1 & the 11 Smooth MA. It may try to test again, Nav..... I have seen this happen so many times, I cant just forgo it.

Jim
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  • #61,746
  • Apr 16, 2008 5:43am Apr 16, 2008 5:43am
Quoting hard1head1
Pull up a 5 min chart and check out the morning star, with nice little pin, right off of R1 & the 11 Smooth MA. It may try to test again, Nav..... I have seen this happen so many times, I cant just forgo it.

Jim
i know buddy ..its just wishfull thinking on my part it doesnt ...
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  • #61,747
  • Apr 16, 2008 5:45am Apr 16, 2008 5:45am
Quoting tomaz55
to all the forex freaks out there, i'm short 9760 for a 9500 tp
Good for you Tomaz!
Why is that?

Cheers
Rob
  • #61,748
  • Apr 16, 2008 5:51am Apr 16, 2008 5:51am
E/U & G/U are in sync and the E/U is testing the M5 pivot now. This pair may be slightly ahead so maybe we will get a tell from it. If it bounces the G/U should follow suit.
  • #61,749
  • Apr 16, 2008 5:52am Apr 16, 2008 5:52am
Those broken swing highs (0712am gmt) and the 38.2% fib of the move up combined to form a high probability re-entry area to the intraday up trend. caution though as intraday up trend is contra the longer time frame down trend.
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  • #61,750
  • Apr 16, 2008 5:56am Apr 16, 2008 5:56am
Quoting bbmac
Those broken swing highs (0712am gmt) and the 38.2% fib of the move up combined to form a high probability re-entry area to the intraday up trend. caution though as intraday up trend is contra the longer time frame down trend.
I noticed that RBS too. And I happen to have some daily fibonacci R1 line there +-2 pips.
  • #61,751
  • Apr 16, 2008 6:04am Apr 16, 2008 6:04am
the formation on the hourly chart suggest to me that we might be going a bit higher ...the close wasnt far enough into the body of the bullish candle so now i exited position looking for a better entery ..
  • #61,752
  • Apr 16, 2008 6:05am Apr 16, 2008 6:05am
Im out, price is right smack dab in the middle of that huge Daily falling wedge, and that rules the roost in my book. This pair could go either way, so I wont chance it. But, since the inside DTL is there for resistance, and I had to pick a direction, it would be short.
  • #61,753
  • Apr 16, 2008 6:11am Apr 16, 2008 6:11am
Quoting SimonJ
I noticed that RBS too. And I happen to have some daily fibonacci R1 line there +-2 pips.
Yeh I had Dly r1 at 9723 area too. With price at 196pips up from the intraday low (above average range) and the entry against the longer time frame down trend, it was alaways going to be a riskier trade if holding for a higher intraday high, ie continutation of intraday uptrend, than just a scalp in expectation of a higher low perhaps?
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  • #61,754
  • Apr 16, 2008 6:13am Apr 16, 2008 6:13am
i based my trades on candle stick patterns and 15 minute is sinking and hourly saying up....and price is falling..i just noticed we still in a uptrend channel ..
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  • #61,755
  • Apr 16, 2008 6:17am Apr 16, 2008 6:17am
Guys, I know this is G/U thread, but,Talk about a pair that looks like a long run up, EUR/CHF. Just for GP... Sorry
  • #61,756
  • Apr 16, 2008 6:19am Apr 16, 2008 6:19am
Hello.
An extremely active chart for you.
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  • #61,757
  • Apr 16, 2008 6:32am Apr 16, 2008 6:32am
i shall short around 1.9850 ..i think we will get there ..we still moving up and around 1.9823 or so ..

8 hr chart by the way incase yur wondering why it looks different .....lol
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  • #61,758
  • Apr 16, 2008 6:39am Apr 16, 2008 6:39am
Closed all my long positions... some from last week. Pos 204 pips for the week so far.... shall wait and see for another long entry later on....
  • #61,759
  • Apr 16, 2008 6:41am Apr 16, 2008 6:41am
Now your talking, Nav.


Quoting nAVIN2007
i shall short around 1.9850 ..i think we will get there ..we still moving up and around 1.9823 or so ..

8 hr chart by the way incase yur wondering why it looks different .....lol
  • #61,760
  • Apr 16, 2008 6:42am Apr 16, 2008 6:42am
Quoting hard1head1
Im out, price is right smack dab in the middle of that huge Daily falling wedge, and that rules the roost in my book. This pair could go either way, so I wont chance it. But, since the inside DTL is there for resistance, and I had to pick a direction, it would be short.
Interesting formation the falling wedge, bullish with high probability chance of break out to the upside, trend reversal.
Im going to watch carefully.
On-site guru & also FF member's' psychiatrist, when not drinking tea
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