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Cable Update (GBPUSD)

  • #170,781
  • Sep 29, 2009 10:35pm Sep 29, 2009 10:35pm
Quoting forexIQ
Shorted g/u from 6030...closed on 21 ema 5m...I think it will find strong resistance 6075...
It is 30m 50%, 4h 23% and it t/p of 200% of bottom move up...
That is where i will short from and see if i can ride it out...
Yes, odds are that LDN push around there, attempt pre-61 area, then drop.
I doubt about 1.6140/62, I can be wrong.

This looks like a bearish wedge to me.
  • #170,782
  • Sep 29, 2009 10:41pm Sep 29, 2009 10:41pm
I think becuz of the sort of double bottom that formed it has to hit that level....i counted it out this way...(5912-5768) + 5912 = your t/p which is 6056....i guesstimated that it should hit 50% on 30m (6075)...that would still mean that bear trend is intact.
  • #170,783
  • Sep 29, 2009 11:01pm Sep 29, 2009 11:01pm
GU Resistance levels:

1.6020 Current Price around
1.6038 fib 38.2% (1.6466-1.5770)
1.6111 Weekly Pivot
1.6116 4hr 50ema
1.6118 fib 50% (1.6466-1.5770)
1.6141 fib 38.2% (1.6741-1.5770)
1.6227 weekly 5sma

IMO, if we close above 1.6038 on 1hr then 1.6110-1.6120 should be next very strong resistance level.
Do not follow my trades. Trade what you see on your own charts.
  • #170,784
  • Sep 30, 2009 12:52am Sep 30, 2009 12:52am
Hey buddies, seems we are meeting decent resistance. @ 6030 area.. Looking @ H1

Anyone taking shorts? We may be going down further now. Think it is too soon to tell,
perhaps sellers looking to buy..
Attached Image (click to enlarge)
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XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #170,785
  • Sep 30, 2009 12:58am Sep 30, 2009 12:58am
Quoting GlobalMacro
Price at its second attempt to break above friday's low
This level is heavily offered atm
Overall bearish momentum still intact
Pull-back offers good value for money

I am selling more here as well @ 1.5916
Good Morning,

Combination of yesterdays bullish engulfing on daily
and break above yesterday's and monday's high
stopped & reversed the short position on break of these highs O/N @ 1.5993

Long now @ 1.5993
Attached Image
Hear the music before the song is over ...
  • #170,786
  • Sep 30, 2009 12:59am Sep 30, 2009 12:59am
Quoting XTrade
Hey buddies, seems we are meeting decent resistance. @ 6030 area.. Looking @ H1

Anyone taking shorts? We may be going down further now. Think it is too soon to tell,
perhaps sellers looking to buy..
Guess not atm LOL. This cable has been quite a tough nut to crack. Just when we thought it was going down, the opposite happen. London time is approaching, guess too early to tell.

Whoops..she just broke today's high. Ranging time again...
  • #170,787
  • Sep 30, 2009 1:04am Sep 30, 2009 1:04am
Quoting XTrade
Hey buddies, seems we are meeting decent resistance. @ 6030 area.. Looking @ H1

Anyone taking shorts? We may be going down further now. Think it is too soon to tell,
perhaps sellers looking to buy..
Don't guess my friend. Look at the higher tf
Thank You
  • #170,788
  • Sep 30, 2009 1:05am Sep 30, 2009 1:05am
Agreed 100% with your sentiments, I lost some pips this morning (NY) then stopped. I saw it going nowhere.

And as nAVIN said to loosely quote "the market likes to trick people, then Kill them!" True. Ultimately I am still bearish cable, but I think 6200 may be a possibility, before tanking again. Will have to watch USD closely and reports. Always charts.

Forgive my simple charts soon I will be able to share more of my views.

edit: LDN is a tricky bunch too-- Don't trade it as much as you guys but, they could send cable up or throw her back down.
After today?....

Quoting Alpha Hamste
Guess not atm LOL. This cable has been quite a tough nut to crack.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #170,789
  • Sep 30, 2009 1:06am Sep 30, 2009 1:06am
Quoting GlobalMacro
Good Morning,

Combination of yesterdays bullish engulfing on daily
and break above yesterday's and monday's high
stopped & reversed the short position on break of these highs O/N @ 1.5993

Long now @ 1.5993

you're late to the party. but welcome to the club bro!
Thank You
  • #170,790
  • Edited 1:12am Sep 30, 2009 1:10am | Edited 1:12am
Yes! That's how I remain still long from .6000 & 6008! Prior longs TP. (appx 6028)
Higher TF- looking to 6200. (bought on retrace) Then perhaps retrace..

Any thought?
THX-

Quoting wormboy
Don't guess my friend. Look at the higher tf
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #170,791
  • Sep 30, 2009 1:11am Sep 30, 2009 1:11am
Quoting wormboy
you're late to the party. but welcome to the club bro!
Thanks bro...

darn...the thoughts of those beauty slaves making me show up in parties late recently

speaking of which, did you see the last one I posted?
Hear the music before the song is over ...
  • #170,792
  • Edited 1:30am Sep 30, 2009 1:13am | Edited 1:30am
Quoting wormboy
Don't guess my friend. Look at the higher tf

they are still waiting.. bro,...
Attached Image
  • #170,793
  • Sep 30, 2009 1:15am Sep 30, 2009 1:15am
Quoting Piters
they are still waitring.. bro,...
I sure like this trend...
if this is how it's gonna be....I say....Keep em Long BULLS...
Hear the music before the song is over ...
  • #170,794
  • Sep 30, 2009 1:16am Sep 30, 2009 1:16am
Quoting Piters
they are still waitring.. bro,...
Can I buy that with 6000 pips per day!?
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #170,795
  • Sep 30, 2009 1:20am Sep 30, 2009 1:20am
Quoting Piters
they are still waitring.. bro,...
PITERS!! We agreed on warm and wet right? You are making them freezing to death
Damn look at them boots...ADIDAS!! (I am not a fairy LOL)
  • #170,796
  • Edited 1:22am Sep 30, 2009 1:21am | Edited 1:22am
Me likes from left #1 #3 #4! best!
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #170,797
  • Sep 30, 2009 1:22am Sep 30, 2009 1:22am
Quoting XTrade
Yes! That's how I remain still long from .6000 & 6008! Prior longs TP. (appx 6028)
Higher TF- looking to 6200. (bought on retrace) Then perhaps retrace..

Any thought?
THX-

Perhaps. I am looking for 6165 myself. But I'll decide once we get there, if there's no weakness, then I'll keep buying. If weakness is spotted, then we switch. Right now we sit back & smile for the camera
Thank You
  • #170,798
  • Sep 30, 2009 1:23am Sep 30, 2009 1:23am
will we go back down or we allready reached the buttom?
Pation is the Holy Grail
  • #170,799
  • Sep 30, 2009 1:23am Sep 30, 2009 1:23am
i'm short 1.6045 no sl
  • #170,800
  • Sep 30, 2009 1:26am Sep 30, 2009 1:26am
Quoting Alpha Hamste
PITERS!! We agreed on warm and wet right? You are making them freezing to death
Damn look at them boots...ADIDAS!! (I am not a fairy LOL)
sorry mate.. my bad english...
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