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Cable Update (GBPUSD)

  • #131,521
  • May 7, 2009 11:44am May 7, 2009 11:44am
Quoting kingindian
its like heart attack for me...
but game is still on.
is it a miracle or what..
im just back then it goes up again taking some of my buy (at 149xx)
at least i can sleep well tonight

goodluck all!
- Always pray on your trading - God know the best for everyone
  • #131,522
  • Edited 11:51am May 7, 2009 11:49am | Edited 11:51am
So.I think that the bullish moment will start now.But,I'm not sure if there's any good news of USD...any latest info...?
  • #131,523
  • May 7, 2009 11:53am May 7, 2009 11:53am
took short @ 5005, thinking it could revisit 4945 or 4900, putting a wide sl around 5055

i take it that upward movement is broken and now is time for movement down
(i hope so)
  • #131,524
  • May 7, 2009 11:54am May 7, 2009 11:54am
Here my plan to go short now...

First of all, we just bounced from...

4934 (Monthly M4 pivot)
4939 (Weekly M4 pivot)
4930/50 .. prior resistance/support
4938 38.2% fib from 4515

So that's good for anyone who looked to buy at that level

The nest level of resistance now I see is near 5070/90

5080 (Weekly R1 pivot)
5070 50% retracement
21/55 EMAs at about 5070 and about to cross down (1 hour)
Resistance zone 5070/90
Psych level at 5100 and 61.8% retracement level to cap upside (hopfully)

So, I am looking to short anywhere from 5070 to 5100.
Attached Image (click to enlarge)
Click to Enlarge Name: gbp.gif Size: 43 KB
  • #131,525
  • May 7, 2009 12:09pm May 7, 2009 12:09pm
Many thanks for your analysis, Jack.
  • #131,526
  • May 7, 2009 12:17pm May 7, 2009 12:17pm
damn jack, your analysis is so good and goes along with my own ideas that i'm almost thinking about abandoning my position, thought still think there should be rerun for 4945 before it can climb back as high as 5080 or more
  • #131,527
  • May 7, 2009 12:20pm May 7, 2009 12:20pm
Quoting jack.canadia
Here my plan to go short now...

First of all, we just bounced from...

4934 (Monthly M4 pivot)
4939 (Weekly M4 pivot)
4930/50 .. prior resistance/support
4938 38.2% fib from 4515

So that's good for anyone who looked to buy at that level

The nest level of resistance now I see is near 5070/90

5080 (Weekly R1 pivot)
5070 50% retracement
21/55 EMAs at about 5070 and about to cross down (1 hour)
Resistance zone 5070/90
Psych level at 5100 and 61.8% retracement level to cap upside (hopfully)

So, I am looking to short anywhere from 5070 to 5100....

Hey!

Would you be kind enough to post the indic for monthly/weekly pivot?!

Inz!
  • #131,528
  • May 7, 2009 1:28pm May 7, 2009 1:28pm
Hi everyone, note the potential bearish engulfing on the daily based on GMT+1.
  • #131,529
  • May 7, 2009 1:37pm May 7, 2009 1:37pm
Hey Jack,

I my' as well chime in here,
Great trading and input today, i observed from
"afar"... and kept saying i shoulda took just
"7" pips today!

On your Retrace,
I'd like the 38.2 even before the 50%,
Give me 1.5040's or 50's and I'm happy!
"+15" r.now,
Have a Great Afternoon/Evening,
Bring it back up a tad Asia,
then we'll short...


Jeff !
I will work to Objectively Identify my Edges
  • #131,530
  • May 7, 2009 1:47pm May 7, 2009 1:47pm
Quoting 4cfx
Hi everyone, note the potential bearish engulfing on the daily based on GMT+1.

  1. Bearish Engulfing is a negitive candle and it's sign for turn down.
  2. Bearish Engulfing is medium sign ... so you to take care
  3. cable need to break 1.4940 to go down
  4. my short order is below 1.4940

  • #131,531
  • May 7, 2009 1:50pm May 7, 2009 1:50pm
Quoting Inzider
Hey!

Would you be kind enough to post the indic for monthly/weekly pivot?!

Inz!
Here you go! Works well when one of the pivots lines up with a support/resistance level.
Attached File(s)
File Type: mq4 AutoPivotIndicator_ver5.mq4   31 KB | 272 downloads
  • #131,532
  • May 7, 2009 1:52pm May 7, 2009 1:52pm
Quoting Endrju
damn jack, your analysis is so good and goes along with my own ideas that i'm almost thinking about abandoning my position, thought still think there should be rerun for 4945 before it can climb back as high as 5080 or more
Dont let my analysis throw off what you are seeing. Trade what you see!
  • #131,533
  • May 7, 2009 1:53pm May 7, 2009 1:53pm
Quoting TerpFan2
Hey Jack,

I my' as well chime in here,
Great trading and input today, i observed from
"afar"... and kept saying i shoulda took just
"7" pips today!

On your Retrace,
I'd like the 38.2 even before the 50%,
Give me 1.5040's or 50's and I'm happy!
"+15" r.now,
Have a Great Afternoon/Evening,
Bring it back up a tad Asia,
then we'll short...


Jeff !
Ya if she cant surpass the 38.2 I'll short with a tight stop!
  • #131,534
  • May 7, 2009 1:55pm May 7, 2009 1:55pm
cable bounce from fibo line
Attached Image (click to enlarge)
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  • #131,535
  • May 7, 2009 1:58pm May 7, 2009 1:58pm
5PM close yesterday was a hangin man, today we are going to see bearish engulfing. Daily 00:00 GMT close appears it may be bearish engulfing as well.

See you in asia.
  • #131,536
  • May 7, 2009 2:04pm May 7, 2009 2:04pm
Quoting jack.canadia
5PM close yesterday was a hangin man, today we are going to see bearish engulfing. Daily 00:00 GMT close appears it may be bearish engulfing as well.

See you in asia.

small rally on stress test news..... not sure how long it will last
  • #131,537
  • May 7, 2009 2:09pm May 7, 2009 2:09pm
Quoting smartalicus
small rally on stress test news..... not sure how long it will last
Weren't the results pretty much leaked out already? What's the fuss now.....market sentiments......
  • #131,538
  • May 7, 2009 2:09pm May 7, 2009 2:09pm
Quoting smartalicus
small rally on stress test news..... not sure how long it will last
Yeah I just read on Daily Fx..

I mean, banks dont need that much it seems. All the market needs to see is one tiny mistake and dollar will gain strength again. I guess this makes it tough to chose direction.
  • #131,539
  • May 7, 2009 2:14pm May 7, 2009 2:14pm
Quoting jack.canadia
Yeah I just read on Daily Fx..

I mean, banks dont need that much it seems. All the market needs to see is one tiny mistake and dollar will gain strength again. I guess this makes it tough to chose direction.

as it has been for last two/three weeks!!

yes, i agree about tiny bad, in face of a hoard of bulls..... just like when pack of bears, tiny "less bad" news sparked rally

not sure what to expect with the jobs report though. they want BETTER than "less bad" for tomorrow...
  • #131,540
  • May 7, 2009 2:15pm May 7, 2009 2:15pm
thx for the indic!

my view... let's see!
Attached Image (click to enlarge)
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