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Cable Update (GBPUSD)

  • #120,121
  • Feb 12, 2009 2:26pm Feb 12, 2009 2:26pm
i'm not sure if we go down at NY session. there is still place for one (or even two) candles on my H1 chart.
  • #120,122
  • Feb 12, 2009 2:47pm Feb 12, 2009 2:47pm
Looks like Double bottom is forming in 1H
  • #120,123
  • Feb 12, 2009 3:17pm Feb 12, 2009 3:17pm
Can someone please post their h4 that closed 17minutes ago?
Patience + Discipline - Greed = Success
  • #120,124
  • Feb 12, 2009 3:22pm Feb 12, 2009 3:22pm
Quoting Infinity
Can someone please post their h4 that closed 17minutes ago?
Coming right up brother!
Just digging in the trenches like everyone else!
  • #120,125
  • Feb 12, 2009 3:23pm Feb 12, 2009 3:23pm
Quoting Infinity
Can someone please post their h4 that closed 17minutes ago?
Here it is.
Attached Image (click to enlarge)
Click to Enlarge Name: 15m.jpg Size: 74 KB
  • #120,126
  • Feb 12, 2009 3:24pm Feb 12, 2009 3:24pm
Quoting Infinity
Can someone please post their h4 that closed 17minutes ago?

Here you go!
Attached Image (click to enlarge)
Click to Enlarge Name: chart.jpg Size: 130 KB
Just digging in the trenches like everyone else!
  • #120,127
  • Feb 12, 2009 3:31pm Feb 12, 2009 3:31pm
hello oehater, what is the setup of your MA's?
62 ema and?
thanks for answer me
  • #120,128
  • Feb 12, 2009 3:33pm Feb 12, 2009 3:33pm
Quoting cesarg
hello oehater, what is the setup of your MA's?
62 ema and?
thanks for answer me
I have multiple ma's on all my charts. I only use the 62ema on my 1h. I have them all broken down on my thread if you want to see which ma's I have on which timeframes. The thread is in my signature.
Just digging in the trenches like everyone else!
  • #120,129
  • Feb 12, 2009 3:35pm Feb 12, 2009 3:35pm
Quoting eohater
Here you go!
Quoting Komissar
Here it is.
Thanks a lot guys!
Patience + Discipline - Greed = Success
  • #120,130
  • Feb 12, 2009 4:03pm Feb 12, 2009 4:03pm
Would people agree that there will be heavy selling pressure at the 1.429x area (15m chart shown below), if it reaches there? What's the plan once it gets there?
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  • #120,131
  • Feb 12, 2009 4:12pm Feb 12, 2009 4:12pm
Quoting pmn100
Would people agree that there will be heavy selling pressure at the 1.429x area (15m chart shown below), if it reaches there? What's the plan once it gets there?
Isn't that an hourly chart?
  • #120,132
  • Feb 12, 2009 4:14pm Feb 12, 2009 4:14pm
Quoting MarkyBoy
Isn't that an hourly chart?
Certainly looks like it to me..........
Le singe est dans l'arbre
  • #120,133
  • Feb 12, 2009 4:17pm Feb 12, 2009 4:17pm
Yes sorry, hourly.
  • #120,134
  • Edited 4:33pm Feb 12, 2009 4:21pm | Edited 4:33pm
Quoting pmn100
Would people agree that there will be heavy selling pressure at the 1.429x area (15m chart shown below), if it reaches there? What's the plan once it gets there?
Hello PMN

what I see are two things to make you reconsider the immediate trend...
1. the level has crossed a downward trend. You have ommitted the upper end of the downward movement. You should not consider the decrease in slop as an inner trend..

2. The current level 1.4272 has breached or is above the 50% fib level..anything above 1.4245 indicates a consideration of upward movement toward testing the upper end of the charts.

So...it is not a good idea to take a short at this time..just my observation. I may be wrong..Its just a probable observation...

let the 1hr candle form ....and maybe then...see the direction the candles are forming...
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  • #120,135
  • Feb 12, 2009 4:36pm Feb 12, 2009 4:36pm
Quoting JammerJams
Hello PMN

what I see are two things to make you reconsider the immediate trend...
1. the level has crossed a downward trend. You have ommitted the upper end of the downward movement. You should not consider the decrease in slop as an inner trend..

2. The current level 1.4272 has breached or is above the 50% fib level..anything above 1.4245 indicates a consideration of upward movement toward testing the upper end of the charts.

So...it is not a good idea to take a short at this time..just my observation. I may be wrong..Its just a probable...
Thanks very much for your analysis.
  • #120,136
  • Feb 12, 2009 4:36pm Feb 12, 2009 4:36pm
Looks like the pound is to be bullish.
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #120,137
  • Feb 12, 2009 4:36pm Feb 12, 2009 4:36pm
The next 20 minutes are very important since that is when the daily candle forms and defines the closing daily level..if it posts above the midpoint.. 1.4245 we may see a push upward..later in the day...or even reach 61.8% fib level..as next retracement to reach...then drop..
  • #120,138
  • Feb 12, 2009 4:41pm Feb 12, 2009 4:41pm
That's slightly relevant, as other dailies close at different times...mine on the 7PM Eastern hour. I think its perhaps more important to view groups of candles and ascertain what sort of formation they would make if they were one candle. For instance, two innocuous looking daily candles might form a decent doji, when paired. Just a thought for you guys'gals.
There's always money in the banana stand.
  • #120,139
  • Feb 12, 2009 4:44pm Feb 12, 2009 4:44pm
Quoting Bones
Looks like the pound is to be bullish.
It certainly looks that way . I wonder what will happen at the G7 meeting later today though; hopefully it will revive the GBP. Alistair Darling has openly said today we won't be joining the Euro.
"The trend is your friend, until the end."
  • #120,140
  • Feb 12, 2009 4:49pm Feb 12, 2009 4:49pm
Quoting ForexRookie
It certainly looks that way . I wonder what will happen at the G7 meeting later today though; hopefully it will revive the GBP. Alistair Darling has openly said today we won't be joining the Euro.
It seems the eurozone does not like the way the UK has devalued the pound to become more competitive. How might this be addressed though? What exactly can be done to reverse GBP's weakness?
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