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Cable Update (GBPUSD)

  • #162,621
  • Sep 2, 2009 4:54am Sep 2, 2009 4:54am
Quoting albchr
She is huh? Based on what?
As i said before we had a short burst up to 15 pips to 76. I closed my my long postions since it couldnt follow through and it was a short term trade for me.

Why couldnt i see it going up? Just by looking at the 1 & 5 min chart. Usually when it trades right underneath an upper trend line and doesnt get sold down - once it breaks the trend line breaks it it blows up hard.

It doesnt always hold though and often fails.

Jury still out on whether this down trend has broken yet. It need to trade above 80.
  • #162,622
  • Sep 2, 2009 4:54am Sep 2, 2009 4:54am
Quote
Pivot: 1.6205

Our preference: Short positions below 1.6205 with targets @ 1.611 & 1.6075 in extension.

Alternative scenario: Above 1.6205 look for further upside with 1.6265 & 1.6335 as targets.

Comment: the pair is rebounding on its support but should be capped by its next resistance.

Key levels
1.6335
1.6265
1.6205
1.617 last
1.611
1.6075
1.601

latest from Trading Central seems to corroborate what many on here are saying.......
  • #162,623
  • Sep 2, 2009 4:56am Sep 2, 2009 4:56am
..
Attached Image (click to enlarge)
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  • #162,624
  • Sep 2, 2009 5:01am Sep 2, 2009 5:01am
Quoting nAVIN2007
..

Picture worth a thousand words bro...

Out of the daily channel and bouncing off ltl.
Attached Image (click to enlarge)
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Ghost Rider - WWTBMD?
  • #162,625
  • Sep 2, 2009 5:03am Sep 2, 2009 5:03am
Quoting albchr
Picture worth a thousand words bro...
slight push up just made the 4hr suspect..was almost a doji..
  • #162,626
  • Sep 2, 2009 5:03am Sep 2, 2009 5:03am
Further to nAVIN's post above you can see the potential sbr/resistance area on the 1hr chart below:

This is the first upside/recovery obstacle off the triple bottom

G/L

http://i28.tinypic.com/2di0obd.gif
ex member
  • #162,627
  • Sep 2, 2009 5:07am Sep 2, 2009 5:07am
Quoting bbmac
Further to nAVIN's post above you can see the potential sbr/resistance area on the 1hr chart below:

This is the first upside/recovery obstacle off the triple bottom

G/L
OK, been trying to figure this out all morning. SBR?? What's that?
Ghost Rider - WWTBMD?
  • #162,628
  • Sep 2, 2009 5:09am Sep 2, 2009 5:09am
Quoting nAVIN2007
slight push up just made the 4hr suspect..was almost a doji..
My 4H closes in two hours. Looking rather bullish atm but that would just fit my thinking of a retrace to the 6200/20 area for a nice short.
Ghost Rider - WWTBMD?
  • #162,629
  • Sep 2, 2009 5:09am Sep 2, 2009 5:09am
Quoting albchr
Picture worth a thousand words bro...

Out of the daily channel and bouncing off ltl.
yes what price is doing is stalling till the ema is close once it touches, we are off, its getting closer
  • #162,630
  • Sep 2, 2009 5:10am Sep 2, 2009 5:10am
Quoting albchr
My 4H closes in two hours. Looking rather bullish atm but that would just fit my thinking of a retrace to the 6200/20 area for a nice short.
..
Attached Image (click to enlarge)
Click to Enlarge Name: trade.gif Size: 25 KB
  • #162,631
  • Sep 2, 2009 5:10am Sep 2, 2009 5:10am
Quoting albchr
OK, been trying to figure this out all morning. SBR?? What's that?
Support Become Resistance.

Also RBS.
  • #162,632
  • Sep 2, 2009 5:10am Sep 2, 2009 5:10am
Quoting otm
As i said before we had a short burst up to 15 pips to 76. I closed my my long postions since it couldnt follow through and it was a short term trade for me.

Why couldnt i see it going up? Just by looking at the 1 & 5 min chart. Usually when it trades right underneath an upper trend line and doesnt get sold down - once it breaks the trend line breaks it it blows up hard.

It doesnt always hold though and often fails.

Jury still out on whether this down trend has broken yet. It need to trade above 80.
Ummm...oh...OK....
Ghost Rider - WWTBMD?
  • #162,633
  • Sep 2, 2009 5:12am Sep 2, 2009 5:12am
Quoting sinner-
Support Become Resistance.

Also RBS.
OK...lol.. that's what I "suspected" but never saw it expressed that way. Thanks..
Ghost Rider - WWTBMD?
  • #162,634
  • Sep 2, 2009 5:14am Sep 2, 2009 5:14am
Quoting albchr
OK, been trying to figure this out all morning. SBR?? What's that?

SBR/RBS = support becomes resistance / resistance becomes support... and refers to the phenomenon of broken support potentially becoming resistance on a pullback from the underside -and- broken resistance becoming support on a pullback from the topside. Ie previous swing lo/hi's particularly when there is confluence with any other proven potential supp/res factor such as trend lines or fibs.

in this case the zone highlighted is now a prev swing lo then hi zone as the broken support became resistance at the retest from the underside,...and could well do so again...although the intraday sentiment has probably changed from neutral to slightly bullish off the triple bottom.
ex member
  • #162,635
  • Sep 2, 2009 5:14am Sep 2, 2009 5:14am
Quoting nAVIN2007
..
My current 4H buddy...
Attached Image (click to enlarge)
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Ghost Rider - WWTBMD?
  • #162,636
  • Sep 2, 2009 5:18am Sep 2, 2009 5:18am
Quoting GlobalMacro
Buying more at 1.6120... AvgPrc : 1.6152
Prices bounced off the lows 85 pips.
Looking good...I'm carrying longs at 1.6152 in the money here @ 1.6200...
Will continue to hold longs.

Seems we have very strong and capable ground crew!
Attached Image
Hear the music before the song is over ...
  • #162,637
  • Sep 2, 2009 5:21am Sep 2, 2009 5:21am
Quoting GlobalMacro
Seems we have very strong and capable ground crew!
If you like GM, I could post a picture of her BEFORE she lost 200 pounds. She's wearing a bikini in that one. Although some might argue it's a CARGO NET....
Ghost Rider - WWTBMD?
  • #162,638
  • Sep 2, 2009 5:22am Sep 2, 2009 5:22am
Quoting I like steak
fly me to the moooonnn.....
1.6214 = daily pivot where I close long before data release.
  • #162,639
  • Sep 2, 2009 5:24am Sep 2, 2009 5:24am
Quoting I like steak
1.6214 = daily pivot where I close long before data release.
wassup steak..
Hear the music before the song is over ...
  • #162,640
  • Sep 2, 2009 5:25am Sep 2, 2009 5:25am
Quoting I like steak
1.6214 = daily pivot where I close long before data release.
good enough for me ....lunch time here ...odd 60-70 pips this morning.

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