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Cable Update (GBPUSD)

  • #155,961
  • Aug 6, 2009 5:42pm Aug 6, 2009 5:42pm
Quoting malcolmb14
you maybe imagining that in your head

gu moves wham .. sideways wham

based on this we go into 50 pip range between now and London

highest we go to 1.6845 , that may be level to short off.

rsx showed bearsigh div before drop ... now red ... and red is dead ...lol

Attachment
Side ways, with slow crawl to the upside Malc, still looking for my 1.6850 TP and shorting opportunity.
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #155,962
  • Aug 6, 2009 5:42pm Aug 6, 2009 5:42pm
Quoting Bones
Its funny jim cause ive noted the exact same thing ...
Also we sit on support as shown in D4 which I like as a TF.Watching Harami on H8 which may be powerful considering the preceding candle.
This move has got potential for around 400 pips within the next few days, and possibly much more before a substancial move down.
Make sure losses are small and profits are bigger!
  • #155,963
  • Aug 6, 2009 5:43pm Aug 6, 2009 5:43pm
Quoting Nene
Yea, This is not a pinball machine. If you think about it the price just moved 300 pips against the long term trend. My book says stay with the trend, then I see the 38 % retrace and the divergence. I can't see anything but long here, Dude.

J

Ne ..

If you like divergences check this massive bearish one on daily. ...

lets see ... AIG NEWS pushed market up ... rumoured to post good results tomorrow before open , they do not deliver bull trap

adp no good . Is nfp going to follow ?

the dollar index gave this move away a few days back ....

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  • #155,964
  • Aug 6, 2009 5:44pm Aug 6, 2009 5:44pm
Theres a higher low now how bout a higher high. 1 Hr
  • #155,965
  • Aug 6, 2009 5:48pm Aug 6, 2009 5:48pm
There is still some unwinding to be done here. I have a long order at 6680 and 6700 for night. If we get there.

I am pretty pissed at my borker today. I had a stop at 6910. That got hit. Turned a 70 pip winner into a 70 pip loser. I checked many sources and price was not that hight at around 830 AM EST.

Guys what was your high at that time?
Its all in the mind.
  • #155,966
  • Aug 6, 2009 5:50pm Aug 6, 2009 5:50pm
Totally agree with this 2be

Quoting 2be
This move has got potential for around 400 pips within the next few days, and possibly much more before a substancial move down.
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #155,967
  • Aug 6, 2009 5:51pm Aug 6, 2009 5:51pm
Quoting 2be
This move has got potential for around 400 pips within the next few days, and possibly much more before a substancial move down.

rofl ... why ???

1st chart usd warming up

2nd chart gbp futures very clear buying climax on high vol 1.7000.

as long as prices stays under 1.6850 this is going down into 1.6600 test .

Think pros would like to push this 400 pips higher here if they are bullish. I am sure they would love to use the BOE news and weakness in the gbp to buy lower if they are bullish in long run

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  • #155,968
  • Aug 6, 2009 5:52pm Aug 6, 2009 5:52pm
Quote
More evidence for long. 38 % Fib level. + 4 Hr divergence.
I agree...
Price is clearly trending up for the time being. Resistance was strongly violated and is now acting as support. We shall have to wait and see if it will hold.

Tyler

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skype: ststroud. let's talk trading.
  • #155,969
  • Aug 6, 2009 5:57pm Aug 6, 2009 5:57pm
Quoting Bull_Bear
Morning guys, I took off after 2 straight losses in a row last night. I'm back on the short train today for the retrace.

Sell @ 1.7000.... SL 1.7060.... TP 1.6900

See you guys in the London session

Quoting Bull_Bear
Yeah, Mi-Lady.... but I have:

1. sell order @ 1.6880... SL 1.6950... TP 1.6800 (i believe this will hit first)

2. buy order @ 1.6790 ... SL 1.6740... TP 1.6850
Alright guys that was last session. This session update is still looking for 1.6850 TP and sell order there too.

Order @ 1.6850... SL... 1.6950.... TP 1.6600

Good luck all.
See you at the London session
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #155,970
  • Aug 6, 2009 5:59pm Aug 6, 2009 5:59pm
Ok then, lets see what happens? Its all good and its nice to see some different charting. I stick to old school though because I do not see the Bearish div. on my Daily. But its healthy to dissagree because we learn from our mistakes, right? Plus I got my Daily signal arrow for a kicker.



J
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  • #155,971
  • Aug 6, 2009 6:01pm Aug 6, 2009 6:01pm
Quoting malcolmb14
rofl ... why ???

1st chart usd warming up

2nd chart gbp futures very clear buying climax on high vol 1.7000.

as long as prices stays under 1.6850 this is going down into 1.6600 test .

Think pros would like to push this 400 pips higher here if they are bullish. I am sure they would love to use the BOE news and weakness in the gbp to buy lower if they are bullish in long run

Attachment
ok forgot gbp chart

as we all know patterns are everywhere in the world ... last timne gu move 700 up she moved 700 down over next three days

we have had major distribution 1.7000 seen in Ultra high volumes

assuming this pattern is start of formation of last , 700 up to 1.7050 , 500 down = 1.6550. That is my 1st target tonight in london . I am not even going to be bothered to put up chart of ftse with a doji on it after 20 days ... 20 days based on fumes of up move. FTSE is about to correct and will take gu down

now those calling 400 pips up .. please explain why ...

BOE has said by their actions that recesssion is NOT over in the UK.

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  • #155,972
  • Aug 6, 2009 6:02pm Aug 6, 2009 6:02pm
this is my levels

http://forexforums.dailyfx.com/attac...yst-forex2.jpg

--------

support resistance

.
  • #155,973
  • Aug 6, 2009 6:03pm Aug 6, 2009 6:03pm
H4 screams out buy me, though I dont like the overbought daily.
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Its all in the mind.
  • #155,974
  • Edited 6:19pm Aug 6, 2009 6:04pm | Edited 6:19pm
Quoting 2be
I am looking for a reversal to short anound 1.73 - 1.74 zone by the 11th/12th of August. Still using the momentum filters. There is a lot of time for this pair to get there, so shorting in both direction is on cards with my sentiment to the north, until the middle of the next week.
The chart with the coloured numbers, is my Delta count, a historic count of Hs and Ls on different TF.
I do not have an exact PT, but I think that the indicated zone, if reached shall be of interest to me, as I shall consider shorting down from it.
This corrective shall give some time for the larger move to the levels indicated. (Time is more important for Delta than price levels). On a longer TF the rationale for long position is well supported, even though one can be some pips in a negative territory. Just as I type I got a signal to buy E/U. Please check the above post if you like to have a look at my Delta count.
Make sure losses are small and profits are bigger!
  • #155,975
  • Aug 6, 2009 6:06pm Aug 6, 2009 6:06pm
Quoting Nene
Ok then, lets see what happens? Its all good and its nice to see some different charting. I stick to old school though because I do not see the Bearish div. on my Daily. But its healthy to dissagree because we learn from our mistakes, right? Plus I got my Daily signal arrow for a kicker.



J

chnage setting on stochastics to 21 to spot divergenceso n higher time frames ....

here it is ....

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  • #155,976
  • Aug 6, 2009 6:07pm Aug 6, 2009 6:07pm
Quoting malcolmb14
chnage setting on stochastics to 21 to spot divergenceso n higher time frames ....

here it is ....

Attachment
and just to top off my arguement a simple macd

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  • #155,977
  • Aug 6, 2009 6:10pm Aug 6, 2009 6:10pm
Later guys and gals. Think about this, if it does climb back to the 1.700 area, wouldn't that make a nice Double Top? Remember, NFP tomorrow and things happen, I have come to expect that.

Ne
  • #155,978
  • Aug 6, 2009 6:11pm Aug 6, 2009 6:11pm
Quoting 2be
This corrective shall give some time for the larger move to the levels indicated. (Time is more important for Delta than price levels). On a longer TF the rationale for long position is well supported, even though one can be some pips in a negative territory. Just as I type I got a signal to buy E/U. Please check this point if you like to have a look at my Delta count.

15 min was buy a while back , 60 min just curling up for 40 pip trade , but 4 hour says sell rallies

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  • #155,979
  • Aug 6, 2009 6:11pm Aug 6, 2009 6:11pm
Quoting malcolmb14
you maybe imagining that in your head

gu moves wham .. sideways wham

based on this we go into 50 pip range between now and London

highest we go to 1.6845 , that may be level to short off.

rsx showed bearsigh div before drop ... now red ... and red is dead ...lol

Attachment
... SELL LIMIT @1.6850 SL 1.6870 TP 1.6690 ... i hope it works .. malcolm is it ok?
  • #155,980
  • Aug 6, 2009 6:13pm Aug 6, 2009 6:13pm
Quoting malcolmb14
and just to top off my arguement a simple macd

Attachment

I agree totally malcomb, good negative divergence on daily, plus that daily candle screams sell!

Im going with my friend on this one, "Trend".
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