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Cable Update (GBPUSD)

  • #127,801
  • Mar 24, 2009 7:20am Mar 24, 2009 7:20am
What Does Bullish Harami Mean?
A candlestick chart pattern in which a large candlestick is followed by a smaller candlestick whose body is located within the vertical range of the larger body.

Quoting leu02cz
http://www.investopedia.com/terms/b/bullishharami.asp
  • #127,802
  • Mar 24, 2009 7:21am Mar 24, 2009 7:21am
Can you believe this thread, buddy?????

AJ
  • #127,803
  • Mar 24, 2009 7:22am Mar 24, 2009 7:22am
Smallish Morning star on the 15
Attached Image (click to enlarge)
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  • #127,804
  • Mar 24, 2009 7:22am Mar 24, 2009 7:22am
You are correct,but you can still take signal there ,I would say ,it doesn't look bearish.
To me it is a piercing line.


Quoting khelemen
Hi Donutman, It is look like bullish harami, but the appearance of bullish harami should happen when there are downtrend before. correct me if I'm wrong.. Anyway it look like continuation of uptrend.. regards,
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #127,805
  • Mar 24, 2009 7:26am Mar 24, 2009 7:26am
But I suppose candles are open to interpretation(which can make them seem difficult),as long as you have the correct message .....
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #127,806
  • Mar 24, 2009 7:28am Mar 24, 2009 7:28am
Its worth keeping up the effort Jim ,really youve done a great job teaching me other trading stuff....i have said it before ...I mean it.


Quoting donutman_111
Can you believe this thread, buddy?????

AJ
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #127,807
  • Mar 24, 2009 7:58am Mar 24, 2009 7:58am
Quoting wormboy
I think so too jim. Prolly a little consolidation till new york opens.
Anyway, this is my take on cable atm & jim's referring to this trade I took.

http://www.forexfactory.com/showpost...&postcount=586

Good luck everyone
Welp, did say consolidation. Too bad I'm not good at scalping. 100 points range here.
Thank You
  • #127,808
  • Mar 24, 2009 8:37am Mar 24, 2009 8:37am
Graph attached for consideration.

Cable was especially bullish from the fundermental CPI data. Maybe an ascending triangle will be formed, with tightening price action: followed by a meaningful breakout.

On the other hand, there may be uncertainty where price action will move sideways for a while.
Attached Image (click to enlarge)
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Probability Professor
  • #127,809
  • Mar 24, 2009 8:38am Mar 24, 2009 8:38am
Quoting wormboy
Welp, did say consolidation. Too bad I'm not good at scalping. 100 points range here.
do you hold short for EU . ?
i hope i could short tomorrow.

im searching good long entry position for gu.

good luck ,azim
  • #127,810
  • Mar 24, 2009 8:49am Mar 24, 2009 8:49am
Quoting uut
do you hold short for EU . ?
i hope i could short tomorrow.

im searching good long entry position for gu.

good luck ,azim
yup. short a few hours ago. I just have a small 100 points target profit tho tbh, nothing big. I might be able to take it off the table tonite as it's nearing my target. Here's a chart explaining why I took the trade on that pair anyway.
Good luck to you too brother
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Thank You
  • #127,811
  • Mar 24, 2009 9:42am Mar 24, 2009 9:42am
At last, I'm a freeman... can't post for 2 weeks. Ok... for the chart .. its look like it is ranging from 1.4642 - 1.4691 .. once it break the upper limit then I set for long
  • #127,812
  • Mar 24, 2009 10:00am Mar 24, 2009 10:00am
Perhap it is going to 1.4900 tomorrow
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  • #127,813
  • Mar 24, 2009 10:21am Mar 24, 2009 10:21am
Hello to all. Reading the forum from few months and learned lot of stuff. Thank you for sharing.

What do you think about this 4 hour butterfly? Maybe down soon... There is one on 1 hour too.

Sorry for my english
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  • #127,814
  • Mar 24, 2009 10:21am Mar 24, 2009 10:21am
Salam Abu Awad,

Why don't you put back your forecast on the blog. By doing that, then some of us can analyse your forecast and what to expect from the chart and also to compare our views. I hope you could consider this, akhi
  • #127,815
  • Mar 24, 2009 10:27am Mar 24, 2009 10:27am
An ascending wedge in a downward trend is a bearish formation. There is still quite a bit of room for price to go North still: I could see it touching 1.4750 again quite comfortably.

It's important to understand that the overall trend is bearish and this big price move is more than likely just a temporary retracement.
Attached Image (click to enlarge)
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Probability Professor
  • #127,816
  • Mar 24, 2009 10:34am Mar 24, 2009 10:34am
So man,,,what is the long term target from your view ???

At which point we can say that GBP is changing direction and the trend is reversed to be UP??



Quoting Galation
An ascending wedge in a downward trend is a bearish formation. There is still quite a bit of room for price to go North still: I could see it touching 1.4750 again quite comfortably.

It's important to understand that the overall trend is bearish and this big price move is more than likely just a temporary retracement.
  • #127,817
  • Mar 24, 2009 10:41am Mar 24, 2009 10:41am
Quoting mohfaid
So man,,,what is the long term target from your view ???

At which point we can say that GBP is changing direction and the trend is reversed to be UP??
When the United States is officially on its way out of the recession. Then people will pull money out of the USD.

In this recession, the USD has been seen as one of the safest investment instruments, across the board. That's across all futures, stocks, and commodities.

When the USA states that it is on its way out of the recession, then traders will be pulling their money out of:

a) The Forex in general.
b) The USD within the forex and invest into other currencies (as risk appetite will increase).

Therefore, if you study the fundermentals, you should have an idea of when the overall trend will change.

At the end of the day the fundermentals drive price action, and the technicals fill in the gaps in between.

As for the price, I think a short anytime could potentially work. But I have large stop losses of up to 500 pips so it can move against me quite a lot without any concern.
Probability Professor
  • #127,818
  • Mar 24, 2009 11:43am Mar 24, 2009 11:43am
I think price action will bounce around in this blue triangle for a little while.
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Probability Professor
  • #127,819
  • Mar 24, 2009 12:06pm Mar 24, 2009 12:06pm
man, i go do a 'honeydo' for an hour... and bam... now i gotta go back to work. who dun what? what caused this to go north like it did??

this is becoming almost like work... and i went to trading fulltime cuz i thot it would be fun....
Durn the torpedos, full speed ahead
  • #127,820
  • Mar 24, 2009 12:10pm Mar 24, 2009 12:10pm
I still use the smoothy as my trend guide.


Quoting Bones
Its worth keeping up the effort Jim ,really youve done a great job teaching me other trading stuff....i have said it before ...I mean it.
Attached Image (click to enlarge)
Click to Enlarge Name: 110) gbpusd 4hr smoothy,24 march.gif Size: 20 KB
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