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Cable Update (GBPUSD)

  • #107,761
  • Dec 18, 2008 4:29am Dec 18, 2008 4:29am
Quoting permanentjaun
I get scared when things aren't moving 50 pips a minute.
yeah it is choppy out there i went short after the pin on the 15 min, will just wait and see now sl BE
  • #107,762
  • Dec 18, 2008 4:34am Dec 18, 2008 4:34am
I think tonight It will reach 1.5535 again, so I've already opened Long.
  • #107,763
  • Dec 18, 2008 4:35am Dec 18, 2008 4:35am
Quoting PipLand
yeah it is choppy out there i went short after the pin on the 15 min, will just wait and see now sl BE
took profit 5400 now im flat an wondering what to do, im confused now
  • #107,764
  • Dec 18, 2008 4:35am Dec 18, 2008 4:35am
Like I said. It's a sloppy H&S imo, but something to consider.

http://img68.imageshack.us/img68/7341/eurusdok4.gif
  • #107,765
  • Dec 18, 2008 4:42am Dec 18, 2008 4:42am
Quoting permanentjaun
Like I said. It's a sloppy H&S imo, but something to consider.
could be still on the cards, maybe thats why its so choppy out there, i dont wanna enter right this min gonna wait for a bit
  • #107,766
  • Dec 18, 2008 4:49am Dec 18, 2008 4:49am
Hi Guys, slightly off the current strategy, but I have noticed that when the MACD diverges from the price action, a substantial breakout often occurs. Has anyone else noticed this, and does it have any vailidity? Does anyone have and mq4 that would compare MACD direction to price movment and highlight this divergence. I've attached a 30M G/U chart - hope you can se it.

Thanks
sohotfx
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.gif Size: 17 KB
  • #107,767
  • Dec 18, 2008 4:53am Dec 18, 2008 4:53am
cabling might range between 1.52/3 to 1.57x before falling (although i doubt it reaching 1.57)
When life gives you lemons, make lemonade
  • #107,768
  • Dec 18, 2008 4:54am Dec 18, 2008 4:54am
Quoting ET-No
I think tonight It will reach 1.5535 again, so I've already opened Long.
I think it will even be above 1.57 this week, but maybe it's wishful thinking...
The pound lagged behind other currencies in their rallies against the dollar. Time for it to close the gap...
  • #107,769
  • Dec 18, 2008 4:58am Dec 18, 2008 4:58am
Here's what I see short term on the M1 charts.

http://img56.imageshack.us/img56/6198/eurusdtc1.gif
  • #107,770
  • Dec 18, 2008 5:01am Dec 18, 2008 5:01am
Quoting micho
cabling might range between 1.52/3 to 1.57x before falling (although i doubt it reaching 1.57)
It was 1.5723 yesterday bro
  • #107,771
  • Dec 18, 2008 5:04am Dec 18, 2008 5:04am
I managed to scalp another 60 pips but its all over the place and to be honest I havent got a clue where its going from here so gonna have to watch again
  • #107,772
  • Dec 18, 2008 5:23am Dec 18, 2008 5:23am
took a little profit.. open at 5477 close at 5508..

kinda worried it would fall again..
Learn the words... speak the words
  • #107,773
  • Dec 18, 2008 5:24am Dec 18, 2008 5:24am
Quoting PipLand
I managed to scalp another 60 pips but its all over the place and to be honest I havent got a clue where its going from here so gonna have to watch again

charts ain't telling me anything..
Learn the words... speak the words
  • #107,774
  • Dec 18, 2008 5:41am Dec 18, 2008 5:41am
IMHO, it is a mistake to short GBPUSD at this time. According to my MTF stochastics, this pair so having a strong upward pressure that keeps the stochastics, especially the Daily and 4H, up and zig zagging in the overbought zones. This means that the GBPUSD is going to either make very minor retracements south or go sideways FOR AN EXTENDED PERIOD OF TIME. I would guess this will last for a week or so.

Through this period, the indicators will make self-corrections such that they will appear in the oversold areas. At that moment, everyone should get ready for going LONG.

Conclusion, I personally will stay out until I see the above changes taking place.
  • #107,775
  • Dec 18, 2008 5:48am Dec 18, 2008 5:48am
we are in a narrowing wedge i will be looking for a clean breakout
  • #107,776
  • Dec 18, 2008 5:52am Dec 18, 2008 5:52am
Quoting Walad100100
IMHO, it is a mistake to short GBPUSD at this time. According to my MTF stochastics, this pair so having a strong upward pressure that keeps the stochastics, especially the Daily and 4H, up and zig zagging in the overbought zones. This means that the GBPUSD is going to either make very minor retracements south or go sideways FOR AN EXTENDED PERIOD OF TIME. I would guess this will last for a week or so.

Through this period, the indicators will make self-corrections such that they will appear in the oversold areas. At that moment, everyone should...
I think she'll move up comes US session
  • #107,777
  • Dec 18, 2008 5:55am Dec 18, 2008 5:55am
Quoting PipLand
we are in a narrowing wedge i will be looking for a clean breakout
I favour upside breakout but im gonna wait and see
Attached Image (click to enlarge)
Click to Enlarge Name: wedge.gif Size: 27 KB
  • #107,778
  • Edited 6:07am Dec 18, 2008 5:57am | Edited 6:07am
Long trend is prevailed ! If you review the last two days, the same time now should have significant down, but not yet ! Another 30 minutes where ever she stays, I might be go long !
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #107,779
  • Dec 18, 2008 6:10am Dec 18, 2008 6:10am
Quoting manize
Long trend is prevailed ! If you review the last two days, the same time now should have significant down, but not yet ! Another 30 minutes where ever she stays, I might be go long !
She'll begins her move up in 1 hr time
  • #107,780
  • Dec 18, 2008 6:15am Dec 18, 2008 6:15am
Quoting gagakrimba
It was 1.5723 yesterday bro
oups sorry i forgot hehe
well from 1.52x to 1.573x
When life gives you lemons, make lemonade
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