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Cable Update (GBPUSD)

  • #130,761
  • Apr 30, 2009 4:53am Apr 30, 2009 4:53am
Quoting michiyo
Perfect head and shoulders in the making on h4
It is a head and shoulders, but not a perfect textbook one.
Probability Professor
  • #130,762
  • Apr 30, 2009 4:58am Apr 30, 2009 4:58am
Chart
Attached Image
  • #130,763
  • Apr 30, 2009 5:10am Apr 30, 2009 5:10am
The ascending bottom trendline which was acting as support is now acting as a resistance. Watch for resistance at this level and price reversals.

Take a look at the chart below. There is a confluence between the Fibonacci 50% and the Daily Pivot which could act as a strong reversal level. If there is a larger retracement, watch this level.
Attached Image (click to enlarge)
Click to Enlarge Name: gbp usd.gif Size: 39 KB
Probability Professor
  • #130,764
  • Apr 30, 2009 5:20am Apr 30, 2009 5:20am
Quoting Galation
The ascending bottom trendline which was acting as support is now acting as a resistance. Watch for resistance at this level and price reversals.

Take a look at the chart below. There is a confluence between the Fibonacci 50% and the Daily Pivot which could act as a strong reversal level. If there is a larger retracement, watch this level.
Great Heads up mate, good stuff! Also had the fib & pivot down
  • #130,765
  • Apr 30, 2009 5:21am Apr 30, 2009 5:21am
I also confirm head and shoulders pattern, but ,if and only if the dji futures have not been passed the weekly 21ema 8145s and broke it finally, since then every pair gained value againts dollar, and usdyen is raising, which was a scout for me.... so I wait for entry to long around 4771 more can be addded at 47s... if retraces, be careful on short side, today I wrote a huge amount of loss according to my account, just because I did not stop loss according to my emotions, when market did not care about yesterdays oil reserves negatively and kept on rising and also futures went space, it seems that market makers will keep the pairs high among the dollar even the datas come slightly bad... it seems like a trend change to me...
Chief Member of 220 mph Riders Club...
  • #130,766
  • Apr 30, 2009 5:49am Apr 30, 2009 5:49am
Quoting ubaidahsan
your buy entry is active now??
Ub
Yup Ub, had to leave order on the table unattended, but am back now. Well thats a bitch... just took my SL, bought again @ 1.4815.... SL 1.4760... TP 1.4995
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #130,767
  • Apr 30, 2009 6:05am Apr 30, 2009 6:05am
Quoting Bull_Bear
Yup Ub, had to leave order on the table unattended, but am back now. Well thats a bitch... just took my SL, bought again @ 1.4815.... SL 1.4760... TP 1.4995
I wish you have bought it on 4h candle close, since if touch lower 4783 more to go down ... waiting it to come around 4771s and 4740s are bottom of my up channel, lets see...
Chief Member of 220 mph Riders Club...
  • #130,768
  • Apr 30, 2009 6:24am Apr 30, 2009 6:24am
Quoting kanji
I wish you have bought it on 4h candle close, since if touch lower 4783 more to go down ... waiting it to come around 4771s and 4740s are bottom of my up channel, lets see...
I would like to see 1.4800 level hold.... anywhere below that between 1.4800-1.4760.... Short term trend could swing back to bear.... yet to see confirmation so stay long.
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #130,769
  • Apr 30, 2009 6:48am Apr 30, 2009 6:48am
Hi dudes

it bounces on 4810 resistance level and began going up!! what do you think?
  • #130,770
  • Apr 30, 2009 6:57am Apr 30, 2009 6:57am
Quoting reza_oscar
Hi dudes

it bounces on 4810 resistance level and began going up!! what do you think?
I think the Unemployment Claims for the US will have an effect on price direction, therefore watch that.
Probability Professor
  • #130,771
  • Apr 30, 2009 6:57am Apr 30, 2009 6:57am
I'm still hold my 2 Short..

waiting confirm from MA lime to close...

Attached Image (click to enlarge)
Click to Enlarge Name: sell2.gif Size: 39 KB
  • #130,772
  • Apr 30, 2009 7:04am Apr 30, 2009 7:04am
now its on 4810-4830
i hope its just a rest to fly again head up 14900
- Always pray on your trading - God know the best for everyone
  • #130,773
  • Apr 30, 2009 7:10am Apr 30, 2009 7:10am
1.4750-1.4650 is realistic if it continues bearish. Just need to break 1.4700 for confirm,
prepare for worst & expect the best
  • #130,774
  • Apr 30, 2009 7:24am Apr 30, 2009 7:24am
what's your idea ?
Attached Image (click to enlarge)
Click to Enlarge Name: gbp.gif Size: 27 KB
  • #130,775
  • Apr 30, 2009 7:35am Apr 30, 2009 7:35am
I mean we have had a big run this week, shouldn't we have minor retracement before continuing the upward trend?
  • #130,776
  • Apr 30, 2009 8:12am Apr 30, 2009 8:12am
i guess it's now heading towards 4685/4705, which could provide some bounce or change of direction back to north. guess many sl very triggered. it becomes harder and harder to understand what could happen after usa news no matter how good or bad they are
  • #130,777
  • Apr 30, 2009 8:26am Apr 30, 2009 8:26am
could it be that DOW up could mean bounce back in short term???

silence here is probably after SL'es were triggered, tricky day
  • #130,778
  • Apr 30, 2009 8:32am Apr 30, 2009 8:32am
it is can be go 1.490x?
  • #130,779
  • Apr 30, 2009 8:34am Apr 30, 2009 8:34am
Dear

Sure noooo , may be we will go to 1.45xx today , I wish to close this week down this fucking 1.4515

Quoting Bal_975
it is can be go 1.490x?
  • #130,780
  • Apr 30, 2009 8:38am Apr 30, 2009 8:38am
A few funermentals by me:

British troops have pulled out of Iraq today.

Chrysler are close to closing doors.

LDV vans in UK this week will decalre bankrupsy unless a buyer is found.

UK Nationwide House Price Index better than expected

US Enemployment better than expected.

Swine Flu internationally close to pandemic declared by World Health Organisation. Currently level 5 of 6.
Probability Professor
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