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Cable Update (GBPUSD)

  • #130,061
  • Apr 21, 2009 6:55am Apr 21, 2009 6:55am
Quoting MantaRedSea
Is it the time to see 4760 again?
Try the 38.2% just under 1.4700....
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #130,062
  • Apr 21, 2009 6:58am Apr 21, 2009 6:58am
There is also a major Daily uptrend line there also.




Quoting Bull_Bear
Try the 38.2% just under 1.4700....
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  • #130,063
  • Apr 21, 2009 6:59am Apr 21, 2009 6:59am
i think 1.4748 break upward again
i'll see and wait..
  • #130,064
  • Apr 21, 2009 7:11am Apr 21, 2009 7:11am
If you look out at the 4 Hr chart, you can clearly see where this can possibly go in the near term. Arrow marks the bottom I am aiming for.

Quoting kudahitam
i think 1.4748 break upward again
i'll see and wait..
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  • #130,065
  • Apr 21, 2009 7:21am Apr 21, 2009 7:21am
:nerd:
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I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #130,066
  • Apr 21, 2009 7:23am Apr 21, 2009 7:23am
Quoting Tater
If you look out at the 4 Hr chart, you can clearly see where this can possibly go in the near term. Arrow marks the bottom I am aiming for.
is it mean it will go upward or down?
im already out from the game (today's profit is enough)
so there is no problem
- Always pray on your trading - God know the best for everyone
  • #130,067
  • Apr 21, 2009 7:34am Apr 21, 2009 7:34am
Quoting Tater
If you look out at the 4 Hr chart, you can clearly see where this can possibly go in the near term. Arrow marks the bottom I am aiming for.
Your MT4 closes at a different time. A funny time. You should consider switching to one that uses 00:00 GMT as your close.

To short, I like 4700 but 4750 more.
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  • #130,068
  • Apr 21, 2009 7:39am Apr 21, 2009 7:39am
Dears

We have a major resistance at 1.4650:60 Area,, let us see what will the PA around it and I think if we breack it we will see Max 1.4720 before turning down again for a visit to 1.4270 , 1.4110 before 1.3870

With me luck
  • #130,069
  • Apr 21, 2009 7:47am Apr 21, 2009 7:47am
Quoting mohfaid
Dears

We have a major resistance at 1.4650:60 Area,, let us see what will the PA around it and I think if we breack it we will see Max 1.4720 before turning down again for a visit to 1.4270 , 1.4110 before 1.3870

With me luck
I'll short there, my long target from DP ( 1.4576 ) ! Against what expected I secured + 8 pips !
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #130,070
  • Apr 21, 2009 7:53am Apr 21, 2009 7:53am
I keep shorting from 1.5030 and hope to close it on 1.35XX again

Do u think we may visit it again


Quoting manize
I'll short there, my long target from DP ( 1.4576 ) !
  • #130,071
  • Apr 21, 2009 7:59am Apr 21, 2009 7:59am
Quoting mohfaid
I keep shorting from 1.5030 and hope to close it on 1.35XX again

Do u think we may visit it again
During the latest several days very difficult to predict accurately. The daily movement range was not so wide. This may cause the thread very silent !
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #130,072
  • Apr 21, 2009 8:03am Apr 21, 2009 8:03am
I notice there are a few on here that think the overall trend is down, i'm interested to know why some people think that?

My chart says its going up.

What does everyone think?

Could anyone post a chart displaying why they think its going down?
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  • #130,073
  • Apr 21, 2009 8:34am Apr 21, 2009 8:34am
Strong support 605 and strong resistance 760

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________________________________________________________

History level GBPUSD
  • #130,074
  • Apr 21, 2009 8:34am Apr 21, 2009 8:34am
Your chart clearly shows a lower low formed on that chart. I posted a similar chart if you look back a few pages.

We have now re-tested the 4hr trendline.
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  • #130,075
  • Apr 21, 2009 8:43am Apr 21, 2009 8:43am
Dear Jack

Perfect chart man

So u expect to go down again from here,,,right ?


Quoting jack.canadia
Your chart clearly shows a lower low formed on that chart. I posted a similar chart if you look back a few pages.

We have now re-tested the 4hr trendline.
  • #130,076
  • Apr 21, 2009 8:48am Apr 21, 2009 8:48am
Quoting mohfaid
Dear Jack

Perfect chart man

So u expect to go down again from here,,,right ?
Expect yes. I'll wait for some confirmation on the 5-minute chart (change in trend to down) to attempt a short with a tight stop.
  • #130,077
  • Apr 21, 2009 8:54am Apr 21, 2009 8:54am
Thanks for the chart, your probably right, we will soon see, im out now anyway.
  • #130,078
  • Apr 21, 2009 9:02am Apr 21, 2009 9:02am
Quoting jack.canadia
Expect yes. I'll wait for some confirmation on the 5-minute chart (change in trend to down) to attempt a short with a tight stop.
Correct me if I am wrong but your TL did not hold matey so why would you expect it to go down from here.....
Once the TL is broken I thought trend change is applicable

Thanks Jack
Let Price determine your future!
  • #130,079
  • Apr 21, 2009 9:04am Apr 21, 2009 9:04am
Looks to be done for the day. Wait for confirmation!
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  • #130,080
  • Edited 9:19am Apr 21, 2009 9:07am | Edited 9:19am
Quoting Geppyg
Correct me if I am wrong but your TL did not hold matey so why would you expect it to go down from here.....
Once the TL is broken I thought trend change is applicable

Thanks Jack
Nothing is perfect in the currency market. Some levels can be violated and even closed above/below but never broken out of.

Thats why we require patience. Market has to prove to me that it won't break beyond that trendline and then show signs of weakening.

So, yes, it's still holding. And its not 'my' trendline. A reaction at this level shows you that its also other people's trendline as well. Trading isn't a science. Keep it simple stupid!
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