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Cable Update (GBPUSD)

  • #117,601
  • Feb 3, 2009 7:32pm Feb 3, 2009 7:32pm
Possible stall out??

1hr TF
Attached Image
Check Mate GAME OVER
  • #117,602
  • Feb 3, 2009 7:36pm Feb 3, 2009 7:36pm
she not showing any clear directon right now......except for a small bullish divergence on 5 min MACD.....might not be anything major......then again...?
  • #117,603
  • Feb 3, 2009 7:39pm Feb 3, 2009 7:39pm
Quoting jack.canadia
why?
1st reason is a daily chart, 2nd reason is that I see this drop as a pullback, 3d reason is that 15min chart can't break 50ma, 4th is the previous 15m candle close and now 30min candle close. plus I have a mini support 1.4369.
of course, chart can prove me wrong in a matter of minutes.
  • #117,604
  • Feb 3, 2009 7:42pm Feb 3, 2009 7:42pm
Quoting primasoldi
What's a possible tp level?
my tp is 1.4455
  • #117,605
  • Feb 3, 2009 7:43pm Feb 3, 2009 7:43pm
Quoting joemiami
she not showing any clear directon right now......except for a small bullish divergence on 5 min MACD.....might not be anything major......then again...?
-
you complete right, de bulish is the same to i see, in movin avarge (the experte in metatreder) this not important i supos, for long posishion onli.
-

sory my inglish.
  • #117,606
  • Feb 3, 2009 7:49pm Feb 3, 2009 7:49pm
Quoting laromanell
1st reason is a daily chart, 2nd reason is that I see this drop as a pullback, 3d reason is that 15min chart can't break 50ma, 4th is the previous 15m candle close and now 30min candle close. plus I have a mini support 1.4369.
of course, chart can prove me wrong in a matter of minutes.
If price cannot break back about 50EMA and make a higher high and a higher low, we are short .. if it does, you should take a long, but I wont...
  • #117,607
  • Feb 3, 2009 7:54pm Feb 3, 2009 7:54pm
thank god i didnt take a long.....

down to 4300 ??
  • #117,608
  • Feb 3, 2009 7:55pm Feb 3, 2009 7:55pm
A bear came knocking on my window
  • #117,609
  • Feb 3, 2009 7:55pm Feb 3, 2009 7:55pm
Quoting Bullfx
GU may go to 1.4280 try a little short ?
i reconsidered, went short at the retest of the trendline at 4380 and very glad I did, ive got 4355 as poss support then pretty clear until 4300!
  • #117,610
  • Feb 3, 2009 7:57pm Feb 3, 2009 7:57pm
Quoting jack.canadia
A bear came knocking on my window
lol we gotta get past 4355
  • #117,611
  • Feb 3, 2009 7:59pm Feb 3, 2009 7:59pm
Ya we have a 38.2% level there as well as the daily pivot
  • #117,612
  • Feb 3, 2009 8:01pm Feb 3, 2009 8:01pm
Possible short on a fail to break back above 1.4380
  • #117,613
  • Feb 3, 2009 8:03pm Feb 3, 2009 8:03pm
Quoting jack.canadia
Ya we have a 38.2% level there as well as the daily pivot
4300 is most likely in the bag if we get past it though then i will go to sleep very happy
  • #117,614
  • Feb 3, 2009 8:04pm Feb 3, 2009 8:04pm
Agree With thatwere back in the box...
Quoting bunton
Possible stall out??

1hr TF
Attached Image (click to enlarge)
Click to Enlarge Name: 12- cable 4 hour at 12,sig, 3-2-09.gif Size: 24 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #117,615
  • Feb 3, 2009 8:05pm Feb 3, 2009 8:05pm
Quoting Bones
Agree With thatwere back in the box...
Identical to my chart ... Im all about trendline breaks in the direction of the overall trend as well .. good analysis
  • #117,616
  • Feb 3, 2009 8:07pm Feb 3, 2009 8:07pm
3 to 5 level pattern...Momentum Trade

Prime time NY session only
5m chart only
Price action and the 10ema only (forget all the other indicators and focus on the pattern developing)

Long Trade - When price breaks out from channel

Expect 3 or 5 resistance areas to be broken and enter in the direction of the move on the pull backs or bounces off these areas.

Allow at least 2 down candles to form on the bounce down to the 10ema and enter long expecting the next leg up. (looking for the 10ema to hold as support)

The 3rd leg is usually the largest move.

If the 4th leg fails to break higher then the 3rd a short signal is generated.

If the 4th leg breaks above 3rd leg expect the 5th leg up to form.

Close all longs when the 5th resistance level forms

Use these same rules for short moves

Here is another chart of the move from 1/16/09
Attached Image (click to enlarge)
Click to Enlarge Name: Jan 16th 9pm.JPG Size: 162 KB
  • #117,617
  • Feb 3, 2009 8:09pm Feb 3, 2009 8:09pm
If we base here for now a jump back to 1.4420 and change should not be ruled out, however a clear failure of this level and we have an hourly 1-2-3 and its south we go!
  • #117,618
  • Feb 3, 2009 8:10pm Feb 3, 2009 8:10pm
im closed out failure to break 4355 oh well im going sleep now the best of luck to everyone!!!
  • #117,619
  • Feb 3, 2009 8:12pm Feb 3, 2009 8:12pm
Hey man glad we see the same thing..
Mind you im often wrong ,lol,overall my bais is down till we break the TL

Quoting jack.canadia
Identical to my chart ... Im all about trendline breaks in the direction of the overall trend as well .. good analysis
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #117,620
  • Feb 3, 2009 8:16pm Feb 3, 2009 8:16pm
Long as of 4372....lets see how far she wants to go
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