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Cable Update (GBPUSD)

  • #115,521
  • Jan 27, 2009 3:20pm Jan 27, 2009 3:20pm
Quoting sofia101
Maybe I see it on4h but on daily my system showing some more upside
My system is showing some more of WAIT-side.http://www.forexfactory.com/images/icons/icon12.gif
  • #115,522
  • Jan 27, 2009 3:22pm Jan 27, 2009 3:22pm
Quoting cisco
Have a look at the daily USD/JPY candle. If that's a H&S, then it could get real ugly for the dollar.
Yeah it does look like a H&S But when USD/JPY goes down it usually means the dollar is getting stronger against other pairs, so if it plays out I expect Cable to go down, well spotted too cheers
  • #115,523
  • Jan 27, 2009 3:23pm Jan 27, 2009 3:23pm
Quoting PipLand
Yeah it does look like a H&S But when USD/JPY goes down it usually means the dollar is getting stronger against other pairs, so if it plays out I expect Cable to go down, well spotted too cheers
I agree with the correlation and definately well spotted!
Just digging in the trenches like everyone else!
  • #115,524
  • Jan 27, 2009 3:28pm Jan 27, 2009 3:28pm
All we need now is to break 4100 then this could tumble pretty far
  • #115,525
  • Jan 27, 2009 3:29pm Jan 27, 2009 3:29pm
Quoting goodwings
My system is showing some more of WAIT-side.http://www.forexfactory.com/images/icons/icon12.gif
Just went for 10 pips now. Out:+10
  • #115,526
  • Jan 27, 2009 3:32pm Jan 27, 2009 3:32pm
Quoting PipLand
Yeah it does look like a H&S But when USD/JPY goes down it usually means the dollar is getting stronger against other pairs, so if it plays out I expect Cable to go down, well spotted too cheers
I only meant it would get ugly for the dollar against the yen. It's been bad for quite awhile now. This possible down move would only make it worse.
Hi, my name is Barry and you can keep your doctor...
  • #115,527
  • Jan 27, 2009 3:38pm Jan 27, 2009 3:38pm
Quoting cisco
I only meant it would get ugly for the dollar against the yen. It's been bad for quite awhile now. This possible down move would only make it worse.
Ahh right yes the Yen is strengthening far too quickly, I wonder if and when the bank of Japan will intervene?
  • #115,528
  • Jan 27, 2009 3:40pm Jan 27, 2009 3:40pm
bounce again from m15 62ma's??i'm out 1st..+50pips..n wait for the breakout..no breakout means go to sleep..
  • #115,529
  • Jan 27, 2009 3:55pm Jan 27, 2009 3:55pm
ive closed my short now i reckon we will test the trend line yet again
  • #115,530
  • Jan 27, 2009 4:45pm Jan 27, 2009 4:45pm
Quoting eohater
Put these ma's on your charts, 50ema, 5ema and 10ema

See what you think in regards to the candles, ma's, and your software. I think you might like them. Then, go read about Price Action and candle patterns. The candles indeed show it all.
In what TF ?? You mean on 15 M??
  • #115,531
  • Jan 27, 2009 4:59pm Jan 27, 2009 4:59pm
incase any1 wants a tip for metatrader...to duplicate trendlines, arrow or whatever...just highlight (double click) and drag it whilst holding the ctrl button.....

it works very well
  • #115,532
  • Jan 27, 2009 5:05pm Jan 27, 2009 5:05pm
Quoting nAVIN2007
incase any1 wants a tip for metatrader...to duplicate trendlines, arrow or whatever...just highlight (double click) and drag it whilst holding the ctrl button.....

it works very well
nice tip - thnx!
  • #115,533
  • Jan 27, 2009 5:09pm Jan 27, 2009 5:09pm
Quoting nAVIN2007
incase any1 wants a tip for metatrader...to duplicate trendlines, arrow or whatever...just highlight (double click) and drag it whilst holding the ctrl button.....

it works very well
cool, thnx

Which way do you reckon we will break out of this wedge?

Im flat now and havent got a clue
  • #115,534
  • Jan 27, 2009 5:16pm Jan 27, 2009 5:16pm
Yeah I'm expecting another test of the trendline. I'm trying to work out how far through the line it can go without negating the bearish view. I don't want too tight a stop basically.
  • #115,535
  • Jan 27, 2009 5:18pm Jan 27, 2009 5:18pm
Quoting PipLand
cool, thnx

Which way do you reckon we will break out of this wedge?

Im flat now and havent got a clue
i think it will go to 1.44 and there we got the 61.8 fib level and down signal from there..dailly closed bullish for me but it could very easily go down from here also...

these 50% retrace area are very dangerous especially when cable is concerned
Attached Image (click to enlarge)
Click to Enlarge Name: cable30mr.gif Size: 33 KB
  • #115,536
  • Jan 27, 2009 5:18pm Jan 27, 2009 5:18pm
Quoting 17121712
Yeah I'm expecting another test of the trendline. I'm trying to work out how far through the line it can go without negating the bearish view. I don't want too tight a stop basically.
lets see if this 15min candle closes above or below the trendline
  • #115,537
  • Jan 27, 2009 5:21pm Jan 27, 2009 5:21pm
Quoting nAVIN2007
i think it will go to 1.44 and there we got the 61.8 fib level and down signal from there..dailly closed bullish for me but it could very easily go down from here also...

these 50% retrace area are very dangerous especially when cable is concerned
cheers, looks like you could be right price is trying to break out now, I wish I went long when i closed my short at 4130 now, oh well
  • #115,538
  • Jan 27, 2009 5:23pm Jan 27, 2009 5:23pm
Quoting nAVIN2007
incase any1 wants a tip for metatrader...to duplicate trendlines, arrow or whatever...just highlight (double click) and drag it whilst holding the ctrl button.....

it works very well
Great, thanks

If you use shift key instead, it extends the trend line along the line. No shifting off previous tops/bottoms.
Target 2 : Stoploss in the green
  • #115,539
  • Jan 27, 2009 5:23pm Jan 27, 2009 5:23pm
Quoting PipLand
cheers, looks like you could be right price is trying to break out now, I wish I went long when i closed my short at 4130 now, oh well
it could so easily go the other way as well...

something which is likely..its food for thought anyway
Attached Image (click to enlarge)
Click to Enlarge Name: cable30mr.gif Size: 35 KB
  • #115,540
  • Jan 27, 2009 5:26pm Jan 27, 2009 5:26pm
Quoting scalpz
Great, thanks

If you use shift key instead, it extends the trend line along the line. No shifting off previous tops/bottoms.
thx thats very usefull as well..some of the things about this platform which can get on peoples nerves appear to have hidden tricks....
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