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Cable Update (GBPUSD)

  • #130,901
  • May 3, 2009 7:02am May 3, 2009 7:02am
Quoting ammal07
I think ,there are two level of prev high that cable need to achieved before it start going down..
We have a gartley pattern . A SHS in daily and h4. I think we already saw last week top.
  • #130,902
  • May 3, 2009 7:20am May 3, 2009 7:20am
my gu chart...have a nice day
Attached Image (click to enlarge)
Click to Enlarge Name: gu.gif Size: 19 KB
  • #130,903
  • May 3, 2009 8:26am May 3, 2009 8:26am
Dear Terminale

What is your view now man , will we break 1.50xx and go up till 1.53xx then down , or we will down from here ??

I am shorting it as u know , but lost much money till this moment

Quoting Terminale
We have a gartley pattern . A SHS in daily and h4. I think we already saw last week top.
  • #130,904
  • May 3, 2009 8:41am May 3, 2009 8:41am
Quoting mohfaid
Dear Terminale

What is your view now man , will we break 1.50xx and go up till 1.53xx then down , or we will down from here ??

I am shorting it as u know , but lost much money till this moment
So far dow jones rising based of big volume from goldman sachs. I expect that once they Take their profit , they are going to send the market down deeply. On fundamental side , parity check is possible . Usa is the first country that will get out from recession , first one that will increase overnight % . BOE and ECB have still room to cut more % . I think this week is going to be bearish. As many company are filling for bankrupcy and NFP the friday. Iam short . and i expect to see a gap down today.
  • #130,905
  • May 3, 2009 8:48am May 3, 2009 8:48am
I hope so man but Weekly and Monthly chart said long , but I feel that there is no momentum for going up ( We break above 1.4980 and close daily up it and went down again )

Can u please check for that report

http://www.forexrazor.com/Home/ItemID/90/Default.aspx

U will find Big Boys Shorting GBP, and that is what I see a big deep down coming soon.

Quoting Terminale
So far dow jones rising based of big volume from goldman sachs. I expect that once they Take their profit , they are going to send the market down deeply. On fundamental side , parity check is possible . Usa is the first country that will get out from recession , first one that will increase overnight % . BOE and ECB have still room to cut more % . I think this week is going to be bearish. As many company are filling for bankrupcy and NFP the friday. Iam short . and i expect to see a gap down today.
  • #130,906
  • May 3, 2009 12:46pm May 3, 2009 12:46pm
Happy trading..........

FiXmE1ToO

Attached Image (click to enlarge)
Click to Enlarge Name: possible play gbpusd.gif Size: 53 KB
  • #130,907
  • May 3, 2009 1:50pm May 3, 2009 1:50pm
Quoting mohfaid
I hope so man but Weekly and Monthly chart said long , but I feel that there is no momentum for going up ( We break above 1.4980 and close daily up it and went down again )

Can u please check for that report

http://www.forexrazor.com/Home/ItemID/90/Default.aspx

U will find Big Boys Shorting GBP, and that is what I see a big deep down coming soon.
Based on that COT report, I would agree that going short this week is in the cards with the large specs showing much more short interest that long, also with 44.3% open interest to short.

Given the close and 2 most recent daily candles, we could be in for a nice short ride down.
  • #130,908
  • May 3, 2009 5:54pm May 3, 2009 5:54pm
it keeps riding up.
- Always pray on your trading - God know the best for everyone
  • #130,909
  • May 3, 2009 6:05pm May 3, 2009 6:05pm
Quoting kingindian
it keeps riding up.
hahah.. you stare at charts too much.
  • #130,910
  • May 3, 2009 6:08pm May 3, 2009 6:08pm
its like an uptrend if you seen at the chart
- Always pray on your trading - God know the best for everyone
  • #130,911
  • May 3, 2009 6:15pm May 3, 2009 6:15pm
mmhmm .. but we are at prior resistance and have MACD 1 hour and 4 hour bearish divergence.

thus, i am waiting to short. risk is too high to buy up at these levels.
  • #130,912
  • May 3, 2009 6:18pm May 3, 2009 6:18pm
almost breaking 4950
if it goes down how deep it will be?
- Always pray on your trading - God know the best for everyone
  • #130,913
  • May 3, 2009 6:18pm May 3, 2009 6:18pm
Quoting jack.canadia
mmhmm .. but we are at prior resistance and have MACD 1 hour and 4 hour bearish divergence.

thus, i am waiting to short. risk is too high to buy up at these levels.
Hi, I don't see divergence on 1 or 4 hour. Can you post a chart please?
FF journal: Peaks and Troffs
  • #130,914
  • May 3, 2009 6:22pm May 3, 2009 6:22pm
Once Japan market open , i expect a big down movement.

My reasons :
China, Japan, S Korea reach agreement on distribution ratio of regional reserve pool .

That support USD and JPY
  • #130,915
  • May 3, 2009 6:37pm May 3, 2009 6:37pm
Quoting bogus
Hi, I don't see divergence on 1 or 4 hour. Can you post a chart please?
Here are 3 charts with my view.

The hourly and 4-hour have two separate MACD, the standard 12/26/9 and another with my preferred 21/34/9 (fibonacci numbers ). I use the MACD hitogram to depict divergence, not the MACD line.

Slightly higher high in the 1-hour and a decrease in MACD histogram.Matching highs in the 4-hour and a decrease in the MACD histogram.

A daily chart without MACD. I highlight two candles. Candle 1 had a range of about 240 pips and a spread (difference between open/close) of about 40 pips. Candle two showed more buying after that candle, a hint that a reversal might be coming soon.

This is just my view but my trades will be based on a few other criteria during the times I trade.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: h4 gu.gif Size: 38 KB
Click to Enlarge Name: d1 gu.gif Size: 36 KB
  • #130,916
  • May 3, 2009 6:37pm May 3, 2009 6:37pm
Quoting jack.canadia
mmhmm .. but we are at prior resistance and have MACD 1 hour and 4 hour bearish divergence.

thus, i am waiting to short. risk is too high to buy up at these levels.
Hee hee hee, ha ha ha, love to see divergence emerge.... Sit & wait for the prey, poison fangs exposed...
  • #130,917
  • May 3, 2009 6:43pm May 3, 2009 6:43pm
Thanks for the reply. I use the MACD signal line. Each to there own.
Cheers
FF journal: Peaks and Troffs
  • #130,918
  • May 3, 2009 6:45pm May 3, 2009 6:45pm
Quoting Terminale
Once Japan market open , i expect a big down movement.

My reasons :
China, Japan, S Korea reach agreement on distribution ratio of regional reserve pool .

That support USD and JPY
Hi Terminale - was it that they decided on how to distribute it rather than how much? - I thought they had agreed on the figure already in Feb? If they decided on how much already in Feb it would have been accounted in the price already - if not then I'm with you and should start moving down.
  • #130,919
  • May 3, 2009 6:45pm May 3, 2009 6:45pm
is it my connection
or the movement is too slow...
- Always pray on your trading - God know the best for everyone
  • #130,920
  • May 3, 2009 6:46pm May 3, 2009 6:46pm
Quoting Terminale
Once Japan market open , i expect a big down movement.

My reasons :
China, Japan, S Korea reach agreement on distribution ratio of regional reserve pool .

That support USD and JPY
dont expect too much. check calendar. its bank holiday today in japan
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