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Cable Update (GBPUSD)

  • #120,661
  • Feb 16, 2009 10:18am Feb 16, 2009 10:18am
Quoting Chris_35
Only a chart ???Attachment
interesting chris..

pop
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  • #120,662
  • Feb 16, 2009 10:59am Feb 16, 2009 10:59am
Did I see my one min chart moving ? WOW
  • #120,663
  • Feb 16, 2009 11:01am Feb 16, 2009 11:01am
Quoting Chris_35
Only a chart ???Attachment
That's exactly what i am thinking...4h also

3500 low looks like capitulation to me
  • #120,664
  • Feb 16, 2009 11:45am Feb 16, 2009 11:45am
Quoting manize
However Abuawad platform has been working well again. Congratz to whom took a short at around 1.4315 ( M15/M30/H1 closed below 1.4330) with target 1.4239 ! Still have a chance to ride on 2nd cell depend on next M15 opening or 1st cell if pullback up again !
Not yet cofirmed to go more down below 1.4239 because M15/30, H1/H4 open above 1.4239. The last H4 close 1.4238 but current H4 open 1.4239. Still shown confusing trend untill the closing time !
Quoting Lejumeau
Did I see my one min chart moving ? WOW

Thanks Manize, and for you Lejumeau, i think Cable sad that i'm not trading today
  • #120,665
  • Feb 16, 2009 11:54am Feb 16, 2009 11:54am
in my opinion while price won't close the week above 1.4650, we are still bearish, the possible H&S formation in 4H and the 3 falling peaks formation in dailyare already to confirm; so, the trend will be bearish..
A break above 1.4650 (shoulder upper line) could lead us to the retest of the last peak (1.497x) and then the second peak (1,537x)...

if there is a confirmation for the down, break of the shoulder line to the south, will lead us to retest of the last valley, around 1.35, and then we could move more south around 1.25, first target of the 3 peaks formation

cesar
  • #120,666
  • Feb 16, 2009 12:09pm Feb 16, 2009 12:09pm
If this helps...
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Dr. C
  • #120,667
  • Feb 16, 2009 12:26pm Feb 16, 2009 12:26pm
TP 1.3860
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  • #120,668
  • Feb 16, 2009 1:26pm Feb 16, 2009 1:26pm
Quoting cesarg
in my opinion while price won't close the week above 1.4650, we are still bearish, the possible H&S formation in 4H and the 3 falling peaks formation in dailyare already to confirm; so, the trend will be bearish..
A break above 1.4650 (shoulder upper line) could lead us to the retest of the last peak (1.497x) and then the second peak...
Nice analysis!
I can see that you identify pattern very well on each of those.
Appreciated!

Inz

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H&S forming.... waiting to short under 1.4255
  • #120,669
  • Feb 16, 2009 1:31pm Feb 16, 2009 1:31pm
Quoting MarkyBoy
What timeframe are you looking at that pattern on?
Was M15 ... I took 30 pips from it
  • #120,670
  • Feb 16, 2009 1:33pm Feb 16, 2009 1:33pm
Quoting Inzider
Nice analysis!
I can see that you identify pattern very well on each of those.
Appreciated!

Inz

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H&S forming.... waiting to short under 1.4255
thanks, but you know how market is, when we are ready to short, there is a big spike up.....
  • #120,671
  • Feb 16, 2009 1:37pm Feb 16, 2009 1:37pm
Quoting Inzider
Nice analysis!
I can see that you identify pattern very well on each of those.
Appreciated!

Inz

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H&S forming.... waiting to short under 1.4255
Why would you short at 4255? Why not find a reason to do so higher up? Maybe even right now because we are at a small area of resistance, put in a stop about 20 pips away, or whatever you are comfortable with .. The 1 minute is diverging at this level so I took a short with a 20 SL .. mind you i trade a micro account so a loss of $2 won't kill me ...
  • #120,672
  • Feb 16, 2009 1:53pm Feb 16, 2009 1:53pm
Quoting jack.canadia
Why would you short at 4255? Why not find a reason to do so higher up? Maybe even right now because we are at a small area of resistance, put in a stop about 20 pips away, or whatever you are comfortable with .. The 1 minute is diverging at this level so I took a short with a 20 SL .. mind you i trade a micro account so a loss of $2 won't kill me ...

i think a good place to short again is 1.4315... but i think when sidney open we will move a little higher, maybe 4360 or 4410
  • #120,673
  • Feb 16, 2009 1:56pm Feb 16, 2009 1:56pm
Quoting cesarg
i think a good place to short again is 1.4315... but i think when sidney open we will move a little higher, maybe 4360 or 4410
Im going to short 4357
Going to make it big by age 21.
  • #120,674
  • Feb 16, 2009 1:57pm Feb 16, 2009 1:57pm
Quoting jack.canadia
Why would you short at 4255? Why not find a reason to do so higher up? Maybe even right now because we are at a small area of resistance, put in a stop about 20 pips away, or whatever you are comfortable with .. The 1 minute is diverging at this level so I took a short with a 20 SL .. mind you i trade a micro account so a loss of $2 won't kill me ...
I just wake up, yesterday i catched the weekend gaps + drop to 1.4155. Considering weekly target i'm half way if not 3/4.
No need to rush.

I'm not looking for the 20 pips TP vs 25 SL. And i hate drawdown... don't do counter trend trade.
I just want to be sure bias is down, right now its mixed 100%, or aiming for 1.4300 and more.

So the right now option is not available
take care!

------

stick sandwitch pattern on 4h?...
  • #120,675
  • Feb 16, 2009 1:58pm Feb 16, 2009 1:58pm
Quoting cesarg
i think a good place to short again is 1.4315... but i think when sidney open we will move a little higher, maybe 4360 or 4410
I would say between 1.4345 (Daily pivot) and 1.4375 (50% of recent drop) would be an ideal place for a short .. Hopefully we are around this area into London open
  • #120,676
  • Feb 16, 2009 2:04pm Feb 16, 2009 2:04pm
Quoting jack.canadia
I would say between 1.4345 (Daily pivot) and 1.4375 (50% of recent drop) would be an ideal place for a short .. Hopefully we are around this area into London open
Looks like alot of us are thinking of a short in this area .. let's be smart with it.
  • #120,677
  • Feb 16, 2009 2:04pm Feb 16, 2009 2:04pm
If it doesn't get above today hig 1.4319 I will short for a double top
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  • #120,678
  • Feb 16, 2009 2:08pm Feb 16, 2009 2:08pm
If it get above the daily hig next stop will be the weelky pivot around 1.4430
many time price tend to go toward the weelky pivot at the begining of the week and then take a direction.

My thought.
  • #120,679
  • Feb 16, 2009 2:08pm Feb 16, 2009 2:08pm
A little off topic newb question.

How long do you guys keep your fibs drawn on your charts? For example, I currently have fib from Jan low 1.35xx to Feb high 1.49xx on my daily chart. But also fib from Feb high 1.49xx to current Feb low 1.41xx on hourly chart. And another fib for recent move from 1.46xx to 1.41xx.

Am I over doing the fibs? My charts are getting cluttered. At what point can you stop paying attention to the fibs I have mentioned and remove them?
  • #120,680
  • Feb 16, 2009 2:11pm Feb 16, 2009 2:11pm
Quoting pmn100
A little off topic newb question.

How long do you guys keep your fibs drawn on your charts? For example, I currently have fib from Jan low 1.35xx to Feb high 1.49xx on my daily chart. But also fib from Feb high 1.49xx to current Feb low 1.41xx on hourly chart. And another fib for recent move from 1.46xx to 1.41xx.

Am I over doing the fibs? My charts are getting cluttered. At what point can you stop paying attention to the fibs I have mentioned and remove them?
I usually keep my fibs for a week at the most. But you can look back in the past and hand draw areas that look important based on candles.
Going to make it big by age 21.
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