Cable Update (GBPUSD)

thx god it come down.....was impossible to trade it cause i didnt know the celling..now i can trade it again ..

You can see the regular immediate bullish divergence in the 1hr oscillators coupled with the hidden/reverse divergence in the 4hr oscillators at today's current lows 9947 support area. 4hr has made a High, Higher low and Higher High off last tuesday's 9599 area lows and is therefore arguably trading up...this mornings lows falling at what would be another Higher Low

yes the trend is up definately we traced to 78.6 level and are on the way up ...

152 lo-hi so far today in cable, other average ranges are shown below. Yesterday's 252 dragging up the daily averages, so that today remains below them so far.

Closed my long, expecting retracement to around 1.9855-60.

Will enter again if my conditions are met.

Using my new channel trading rules woulda netted me 90pips here ( okay it's easy with highnsight ) but I'm liking it so far



Chart to explain my channel!!!!

Lots of Beautiful graphs on this thread.

I wished market waves follows indicators and fiboooooooooooos
It is the other way round indicators and fibos follows market waves.

Just remeber it will need to break 9950 before bullish trend is established
for the week. Right, the week started bearish and I suspect it will fall back
where it came from before the next 24hrs. Daily is down!

61.8% of mondays fall the offending resistance area atm, 9918 area.

Dly R1 anywhere between 9959-78 with that 76.4% of the mon fall in there at 9960 area. 17i lo-hi now on day

if 1.9924 breaks and staying above it ... open way to test 2.0031

Tomorrow, the GBP MPC Meeting Minutes come out. Expected: 9-0 cut. If the actual number deviates from this, based on the past, it looks like the direction of the movement would continue in the hours afterwards. See here for charts of the past few GBP MPC Meeting Minutes releases showing this:
http://www.forexnewspatterns.com/gbp_mpc.html

Drattts, my up channel weak as it was on usdjpy didn't hold PC crashed, so first channel trade I take live, failed typcial.

Not phased though, will find a stronger channel

hey guys i need to ask u a question

9 of the MPC members are expected to vote to cut rates????
or is it the other way around.

I would also like to point out, that so far my magic coin is 2 for 2, it called up today and got it

Sad really, when Random and 50/50 is better than hours of pouring over charts and getting confused by chaos.

On the basis they've donated 50Bil eccckkss, to try to instill some confidence in the housing market, they'd be really stupid not to cut the rates aswell.

Although, it would likely improve the situation, if they said, all is fine, no more cuts are required.

All mind games, are they smart enough to play them though ??

The question is, if they do cut ?? which way will it move the markets ??? and I don't think anyone knows for sure, so doesn't really matter

The 61.8 % fib level on BBmac's chart just happens to be the M3 mid pivot on my chart, I think were goin thru guys.

I pulled 3/4's of my load at M3, if it crosses and retests and I get a greenerd, I will put it back on and ride to 76%, which is 9957

Had the call, guys, the E/U has split in the opposite direction, just as ordered.

FXCM gone down ??? dunno if mines just crashed or it's all down, prices froze, exited and won't re log in.

USDJPY + EURUSD both point to USD strength currently, which means the gpb news must be really bullish.

R1 for me is 1.9910 then 1.9895 and there moving up.


Damn I wish I'd jumped into this up channel

price acction looks like some selling here, time to take thy profit and walk away people.

NOT TIME TO go short though!!!!