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Cable Update (GBPUSD)

  • #121,601
  • Feb 18, 2009 9:12pm Feb 18, 2009 9:12pm
Here is food for thought,it 1H chart without all this indicators ,I don't use them
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  • #121,602
  • Feb 18, 2009 9:16pm Feb 18, 2009 9:16pm
Quoting Inzider
Aiming 1.4300 again...
Hi Inzider

On the 1hr chart it is look like we are going to give an attemp to test the 4300 level since we are now free of the cloud resistance and have a cross over with the blue and red line so a good chance of a brake, if so we should fill the gap , so my prediction is small pulback from 4315 daily pivot and rally up to the weekly pivot 4450.

I will wait until tomorow morning before getting in the trade see what happen
more often you hit a resistance more strong it become but wach out when it get broke.
  • #121,603
  • Feb 18, 2009 9:17pm Feb 18, 2009 9:17pm
forgot to post the chart
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  • #121,604
  • Feb 18, 2009 9:19pm Feb 18, 2009 9:19pm
We have the 38.2 fibo at around 1.4350. Price should bounce there on an upswing. Anything lower will target the 23.6 fibo at 1.4025. A solid move above the 38.2 will next target 50 fibo at around 1.4600
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  • #121,605
  • Feb 18, 2009 9:21pm Feb 18, 2009 9:21pm
Quoting Lejumeau
Hi Inzider

On the 1hr chart it is look like we are going to give an attemp to test the 4300 level since we are now free of the cloud resistance and have a cross over with the blue and red line so a good chance of a brake, if so we should fill the gap , so my prediction is small pulback from 4315 daily pivot and rally up to the weekly pivot 4450.

I will wait until tomorow morning before getting in the trade see what happen
more often you hit a resistance more strong it become but wach out when it get broke.
I believe the more times you hit a support or resistance area, the weaker it becomes. Each succesive hit absorbs left over supply (resistance) or demand (support) that was not filled on prior touches. This is when a breakout occurs, once the demand or supply runs out, then price can go beyond the level.
  • #121,606
  • Edited 10:15pm Feb 18, 2009 9:24pm | Edited 10:15pm
Quoting Lejumeau
forgot to post the chart
That Ichimoku cloud analysis/view is really appreciated!
Thx mister!

-------------

I have plotted it over a chart aside, trying to get sens of it.
  • #121,607
  • Feb 18, 2009 9:24pm Feb 18, 2009 9:24pm
Quoting Lejumeau
forgot to post the chart
Would you please be so kind as to post the weekly pivot indicator you have? I have a similar one for daily pivots and medians if you would like! Would be much appreciated!
  • #121,608
  • Feb 18, 2009 9:30pm Feb 18, 2009 9:30pm
Quoting jack.canadia
I believe the more times you hit a support or resistance area, the weaker it becomes. Each succesive hit absorbs left over supply (resistance) or demand (support) that was not filled on prior touches. This is when a breakout occurs, once the demand or supply runs out, then price can go beyond the level.
depend how you count if a resistance get brake on the first rebound then it is weak but if after 3 or 4 attemp it doesn,t get broke that mean it did get stronger because still after many attemp it hold but I understand what you mean it will eventualy get weak because more you try it will eventualy failed

weak-stronger-realy strong-less strong-strong-weak= break
  • #121,609
  • Feb 18, 2009 9:34pm Feb 18, 2009 9:34pm
Quoting Inzider
That Ichimoku cloud analysis/view is really appreciated!
Thx mister!

-------------

I have plotted over a chart aside, trying to get sens of it.
What I realy like also about ichimoku is it give you a reference point .
  • #121,610
  • Feb 18, 2009 9:55pm Feb 18, 2009 9:55pm
Quoting Lejumeau
What I realy like also about ichimoku is it give you a reference point .
Would you be kind enough to post the full indic + template?
It sound a bit lazy from me but i found your chart clean and don't feel to work to get same result.

Also, i see that you haven't plot history price, would give you long term signal, i bet you find those delaid/too late or something?!

Appreciated!
  • #121,611
  • Feb 18, 2009 10:10pm Feb 18, 2009 10:10pm
Quoting jack.canadia
I believe the more times you hit a support or resistance area, the weaker it becomes. Each succesive hit absorbs left over supply (resistance) or demand (support) that was not filled on prior touches. This is when a breakout occurs, once the demand or supply runs out, then price can go beyond the level.
That the use of the cloud, it get thinner on each touch, drying order at the level.
  • #121,612
  • Feb 18, 2009 10:14pm Feb 18, 2009 10:14pm
Quoting ferndog
We have the 38.2 fibo at around 1.4350. Price should bounce there on an upswing. Anything lower will target the 23.6 fibo at 1.4025. A solid move above the 38.2 will next target 50 fibo at around 1.4600
Yes
  • #121,613
  • Feb 18, 2009 11:02pm Feb 18, 2009 11:02pm
Who have push the mute botton?!
  • #121,614
  • Feb 18, 2009 11:07pm Feb 18, 2009 11:07pm
Quoting sofia101
Yes
morning from Malaysia..sofia..

pop
{Promotion Removed}
  • #121,615
  • Feb 18, 2009 11:09pm Feb 18, 2009 11:09pm
Quoting popisdead
morning from Malaysia..sofia..

pop
Good morning from Florida
  • #121,616
  • Feb 18, 2009 11:13pm Feb 18, 2009 11:13pm
Good Morning from Jakarta
  • #121,617
  • Feb 18, 2009 11:16pm Feb 18, 2009 11:16pm
Good morning from Seoul
  • #121,618
  • Feb 18, 2009 11:25pm Feb 18, 2009 11:25pm
Quoting kelvintc
Good Morning from Jakarta
Gd afternoon! Hi Kelvin, Nice to see there is people from Jakarta as well. I am a newbie here. Need some forex gurus from this forum. Hope I can get something. Cheers.
  • #121,619
  • Feb 18, 2009 11:30pm Feb 18, 2009 11:30pm
Quoting sofia101
Here is food for thought,it 1H chart without all this indicators ,I don't use them
I have the same trendline on my hourly. My bias is still down but I have tighten the stops and not take unnecessary risk. I will close the position if the candle does not break back into the descending trendline area by london open. Good luck guys
Thank You
  • #121,620
  • Feb 18, 2009 11:41pm Feb 18, 2009 11:41pm
Quoting wormboy
I have the same trendline on my hourly. My bias is still down but I have tighten the stops and not take unnecessary risk. I will close the position if the candle does not break back into the descending trendline area by london open. Good luck guys
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