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Cable Update (GBPUSD)

  • #120,921
  • Feb 17, 2009 6:34am Feb 17, 2009 6:34am
Quoting fifo

it's stupid - i known but change in abuawad_data.txt "S" and "B" to lower case "s" and "b"
DONE
  • #120,922
  • Feb 17, 2009 6:52am Feb 17, 2009 6:52am
Quoting PipLand
Also if 4320 is broken up then 4430 is the next target
4H is confusing me - ascending triangle and H&S.

"Ascending" - is a little wide, but it's visible...
Attached Image (click to enlarge)
Click to Enlarge Name: 15m.jpg Size: 101 KB
  • #120,923
  • Feb 17, 2009 7:00am Feb 17, 2009 7:00am
Quoting Komissar
4H is confusing me - ascending triangle and H&S.

"Ascending" - is a little wide, but it's visible...
Hi Komissar
An observation on your chart. The bottom line of your triangle could be drawn anywhere. If you had drawn it earlier at the previous low you would now be saying that it has broken your triangle. Like most are saying, we need to see something more decisive. I hope this adds another perspective.
  • #120,924
  • Feb 17, 2009 7:02am Feb 17, 2009 7:02am
Quoting Komissar
4H is confusing me - ascending triangle and H&S.

"Ascending" - is a little wide, but it's visible...
I agree with the ascending triangle, I have the same support line drawn on my chart. One of the reasons im not gonna go short now because the risk to reward ratio doesnt look good.

A very similar support line can also be drawn on the footsie which is currently at support too and holding. Which would be another reason for me not to attempt a short on cable.

I think we'll see a little weakness in the short term perhaps down to the 418x area, where I may consider a long, so still waiting and watching for now.
  • #120,925
  • Feb 17, 2009 7:03am Feb 17, 2009 7:03am
Quoting Barny
Hi Komissar
An observation on your chart. The bottom line of your triangle could be drawn anywhere. If you had drawn it earlier at the previous low you would now be saying that it has broken your triangle. Like most are saying, we need to see something more decisive. I hope this adds another perspective.
I had that line on my chart from before the begining of last week as I was away on holiday it didnt get altered even slightly and cable bounced off it very nicely
  • #120,926
  • Feb 17, 2009 7:04am Feb 17, 2009 7:04am
Quoting Komissar
4H is confusing me - ascending triangle and H&S.

"Ascending" - is a little wide, but it's visible...
Great job. Thanks.
  • #120,927
  • Feb 17, 2009 7:06am Feb 17, 2009 7:06am
Hello Abuawad

If you have time could you please check your PM thank you
  • #120,928
  • Feb 17, 2009 7:09am Feb 17, 2009 7:09am
Quoting Barny
Hi Komissar
An observation on your chart. The bottom line of your triangle could be drawn anywhere. If you had drawn it earlier at the previous low you would now be saying that it has broken your triangle. Like most are saying, we need to see something more decisive. I hope this adds another perspective.
You might be right, but if previuos low would be used, H&S would not be in the picture, because it was not formed yet. I was mentioned the current moment - just my opinion. And I am on a side right now.
  • #120,929
  • Feb 17, 2009 7:12am Feb 17, 2009 7:12am
Quoting PipLand
I had that line on my chart from before the begining of last week as I was away on holiday it didnt get altered even slightly and cable bounced off it very nicely
Its certainly a good patern to watch. Have you also looked at the 15 M flag pattern forming?
  • #120,930
  • Feb 17, 2009 7:18am Feb 17, 2009 7:18am
Quoting Barny
Its certainly a good patern to watch. Have you also looked at the 15 M flag pattern forming?
Yeah I have noticed that, it looks good for long, shame I didnt grab an entry. I was hoping for some more short term weakness and a test of 418x.

We might still see lower levels though were below the 1hr62ema and inside a downward channel. Too many mixed signals so im gonna grab some food and comeback in time for the new 1hr candle
  • #120,931
  • Feb 17, 2009 7:20am Feb 17, 2009 7:20am
Quoting PipLand
Yeah I have noticed that, it looks good for long, shame I didnt grab an entry. I was hoping for some more short term weakness and a test of 418x.

We might still see lower levels though were below the 1hr62ema and inside a downward channel. Too many mixed signals so im gonna grab some food and comeback in time for the new 1hr candle

Before I go anyone thinking about going short watch out that E/G doesnt break support at 883x!
  • #120,932
  • Feb 17, 2009 7:22am Feb 17, 2009 7:22am
Quoting PipLand
Yeah I have noticed that, it looks good for long, shame I didnt grab an entry. I was hoping for some more short term weakness and a test of 418x.

We might still see lower levels though were below the 1hr62ema and inside a downward channel. Too many mixed signals so im gonna grab some food and comeback in time for the new 1hr candle
Looks like it's lunch time at your site. So, it's coffee break for me.
  • #120,933
  • Feb 17, 2009 7:29am Feb 17, 2009 7:29am
If this 1hr candle 1300 GMT closes Bullish we might see a possible trend Reversal
  • #120,934
  • Feb 17, 2009 7:41am Feb 17, 2009 7:41am
Quoting PipLand
Before I go anyone thinking about going short watch out that E/G doesnt break support at 883x!
Hey buddy welcome back.Hope you had a great holiday.
  • #120,935
  • Feb 17, 2009 7:47am Feb 17, 2009 7:47am
Oh well....I see old Steelhead got banned from FF......shame, he was quite a character...and a good trader too....
  • #120,936
  • Feb 17, 2009 7:51am Feb 17, 2009 7:51am
Quoting trader2160
Hey buddy welcome back.Hope you had a great holiday.
Cheers, good to be back and had a great holiday thnx!
  • #120,937
  • Feb 17, 2009 7:51am Feb 17, 2009 7:51am
Banned? Well he's a good trader, but it's amazing how someone could be so aggressive without being able to spell in his own language
  • #120,938
  • Feb 17, 2009 7:54am Feb 17, 2009 7:54am
Quoting ezodisy
Banned? Well he's a good trader, but it's amazing how someone could be so aggressive without being able to spell in his own language

  • #120,939
  • Feb 17, 2009 7:57am Feb 17, 2009 7:57am
Quoting AmeriTrini
Patience is the keyword here...
  • #120,940
  • Feb 17, 2009 8:07am Feb 17, 2009 8:07am
Quoting ezodisy
Banned? Well he's a good trader, but it's amazing how someone could be so aggressive without being able to spell in his own language
Quite right....perhaps now we can concentrate on getting some decent grammar on this thread....it's a bloody disgrace!
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