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Cable Update (GBPUSD)

  • #129,761
  • Apr 17, 2009 1:39am Apr 17, 2009 1:39am
1.4797 region is a VERY important support. it will be tough to break it as the pair retraced back from that level. We might see some bullish activity in the European Session.
  • #129,762
  • Apr 17, 2009 1:45am Apr 17, 2009 1:45am
Quoting Ardafx
1.4797 region is a VERY important support. it will be tough to break it as the pair retraced back from that level. We might see some bullish activity in the European Session.
Why 4797?
  • #129,763
  • Apr 17, 2009 1:47am Apr 17, 2009 1:47am
Quoting Ardafx
1.4797 region is a VERY important support. it will be tough to break it as the pair retraced back from that level. We might see some bullish activity in the European Session.
I doubt any smart money would be buying much after it has just broken a strong support at 1.4840. Assuming price doesn't reach higher than 1.4840 in the next 15 minutes, then we'll have a confirmed hourly break of 1.4840. I think we'll see at least 1.4720 today. If it closes today below this level, it could go as low as 1.45 in the next few days.
  • #129,764
  • Apr 17, 2009 1:49am Apr 17, 2009 1:49am
Quoting jack.canadia
Why 4797?
it was a very important level since the mid december of 2008 when looking at the daily graphs. The pairs evantually hit this level or retraced back or went up around 1.4797 making this line an important resistance and support. Though it is not as solid as 1.5095 and 1.4935 resistance(support) levels.
  • #129,765
  • Apr 17, 2009 1:52am Apr 17, 2009 1:52am
Quoting Pipsqueak
I doubt any smart money would be buying much after it has just broken a strong support at 1.4840. Assuming price doesn't reach higher than 1.4840 in the next 15 minutes, then we'll have a confirmed hourly break of 1.4840. I think we'll see at least 1.4720 today. If it closes today below this level, it could go as low as 1.45 in the next few days.
i am not buying myself unless the pair closes above 1.4832 at 10GMT... I also do not feel safe shorting the pair at the moment. If an hourly closes right below my 1.4794 line, than perhaps we can expect the pair testing 1.4730
  • #129,766
  • Apr 17, 2009 1:55am Apr 17, 2009 1:55am
1.4780 theoretically is support too, if you go by past resistance becomes support (highs on the 3rd, 7th and 9th of April were around this level).

Who knows though.
The trend is not your friend, it's your master.
  • #129,767
  • Apr 17, 2009 1:55am Apr 17, 2009 1:55am
H&s in gbp/usd 1hr :
Attached Image (click to enlarge)
Click to Enlarge Name: h&s.png Size: 51 KB
  • #129,768
  • Apr 17, 2009 1:56am Apr 17, 2009 1:56am
Quoting Ardafx
i am not buying myself unless the pair closes above 1.4832 at 10GMT... I also do not feel safe shorting the pair at the moment. If an hourly closes right below my 1.4794 line, than perhaps we can expect the pair testing 1.4730
i do agree with you its a time to wait but with in next 1-2 hours positions will be clear but i think it could be down becuase its more then a week that GU is bullish so now time for bearish...let see what happen


Ub
  • #129,769
  • Apr 17, 2009 1:58am Apr 17, 2009 1:58am
Quoting Iced Earth
H&s in gbp/usd 1hr :
possible scenario if 1.4794 is broken. If it does i am expecting 1.4650 to be hit.
  • #129,770
  • Apr 17, 2009 2:00am Apr 17, 2009 2:00am
Quoting ubaidahsan
i do agree with you its a time to wait but with in next 1-2 hours positions will be clear but i think it could be down becuase its more then a week that GU is bullish so now time for bearish...let see what happen


Ub
i would say in 2 hours because thats when my new 4H candle is formed. And it helps me a lot.
  • #129,771
  • Apr 17, 2009 2:00am Apr 17, 2009 2:00am
Here is my H4 chart...
Attached Image (click to enlarge)
Click to Enlarge Name: h4new.gif Size: 29 KB
  • #129,772
  • Apr 17, 2009 2:25am Apr 17, 2009 2:25am
this might go as high as 1.4893... I'd still stay away from gbpusd...
There are more clearer pairs at the moment.
  • #129,773
  • Apr 17, 2009 2:41am Apr 17, 2009 2:41am
Quoting Ardafx
this might go as high as 1.4893... I'd still stay away from gbpusd...
There are more clearer pairs at the moment.
hmm like which pairs???


Ub
  • #129,774
  • Apr 17, 2009 2:50am Apr 17, 2009 2:50am
Quoting ubaidahsan
hmm like which pairs???


Ub
eurgbp...
i am hoping for 0.8827
and usdjpy which was screaming to go bearish for the last hour.
  • #129,775
  • Apr 17, 2009 3:51am Apr 17, 2009 3:51am
It really drop after 41H past i post it..I still newbie..Chasing the market..Hope can learn from all master here..

http://www.forexfactory.com/showpost...stcount=129666

da..da..da..
  • #129,776
  • Apr 17, 2009 4:51am Apr 17, 2009 4:51am
can we go Long from Here 1.4760 ?
The Ottelo way's find the mutual system to wins
  • #129,777
  • Apr 17, 2009 4:59am Apr 17, 2009 4:59am
Sell &buy Area

Red Sell
Blue Buy
Attached Image (click to enlarge)
Click to Enlarge Name: sellbuyarea.gif Size: 11 KB
  • #129,778
  • Apr 17, 2009 5:28am Apr 17, 2009 5:28am
Quoting ottelo
can we go Long from Here 1.4760 ?
YES you can go long here. ( If it is on demo ) LOL!
Never Ever Give Up!
  • #129,779
  • Apr 17, 2009 5:44am Apr 17, 2009 5:44am
Im still for this h&s playing out.

My target for it is 14625. Its around the 200 pip mark which also works with the strong historical s&r level 625.

Having said this im not short yet.

14762 is the support i think this has to break first.
Its the recent TL on the daily and was tested an hour ago.

Lets see.
  • #129,780
  • Apr 17, 2009 6:11am Apr 17, 2009 6:11am
[quote=errich fx;2668682]You can use this level if price going down today, and remember yesterday 1,4760 is the strong resistance, now this level become strong support,

Attachment


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102 pips today from my history level ,
67 pips from follow trend bearish
+ free 35 pips from strong support.

Attached Image (click to enlarge)
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History level GBPUSD
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