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Cable Update (GBPUSD)

  • #173,181
  • Oct 5, 2009 5:21pm Oct 5, 2009 5:21pm
Good MAE everyone!!
  • #173,182
  • Oct 5, 2009 5:22pm Oct 5, 2009 5:22pm
Quoting Magix
I've had a couple real doosies over the last couple weeks, some days, tears of joy, some, tears of sorrow....still at it as a hobbiest, even still, as a hobby made more than when I sat here all godly hours of the day.
that's trading man!
  • #173,183
  • Oct 5, 2009 5:42pm Oct 5, 2009 5:42pm
bears have gone into hiding, bulls on a rampage from now on.


http://i.pbase.com/o4/85/602085/1/65...7802Medium.jpg
  • #173,184
  • Oct 5, 2009 5:58pm Oct 5, 2009 5:58pm
Quoting jack.canadia
You too man! Took a break for a while but am back at it.

Might take another break if we have more days like yesterday haha

nice to see u again !
u should post one of your no brainer charts right away
Thank you Malcolm, Belekas, Jim, raczekfx and Ryanmcd !
  • #173,185
  • Oct 5, 2009 6:01pm Oct 5, 2009 6:01pm
Today will be a hard day for bull and bear... the battle almost balance... Better go for golf....
  • #173,186
  • Oct 5, 2009 6:04pm Oct 5, 2009 6:04pm
Quoting djambazov84
nice to see u again !
u should post one of your no brainer charts right away
im neurtal right now, so no, no-brainer chart .. but keep your eyes peeled .. 4-h no brainers work well with GBP and ill be contributing those from time to time
  • #173,187
  • Oct 5, 2009 6:17pm Oct 5, 2009 6:17pm
Captured a short while ago.

From a 15m chart on the GU.

It may never happen again in your lifetime***.
8 EMA's all stacked upon one another with only 1 pip variance.
PLUS as an added bonus, the current price has joined them @ 1.5941.

I defy anyone to match this on any chart in the near or immediate
future. As if you really cared.

EMA's: 18, 36, 54, 72, 90, 108, 126, 144

I must be bored stiffless to wait for such an occurance.

*** Forex lifetime is perhaps only a few days to few weeks for most traders. LOL
Dr. D.

Interpretation: an imminent and inevitable explosion.
Attached Images
  • #173,188
  • Oct 5, 2009 6:25pm Oct 5, 2009 6:25pm
Quoting fourxtrader
Captured a short while ago.

From a 15m chart on the GU.

[color=#0000ff]It may never happen again in your lifetime***.
8 EMA's all stacked upon one another with only 1 pip variance.
PLUS as an added bonus, the current price has joined them @ 1.5941.

I defy anyone to match this on any chart in the near or immediate
[i][i][color=#0000ff]future....
Ok, what is the point? Short or long?
  • #173,189
  • Oct 5, 2009 6:31pm Oct 5, 2009 6:31pm
Now I have all 8 ema's stacked at 1.5941 including the current price.

Dr. D.
Attached Image
  • #173,190
  • Oct 5, 2009 6:34pm Oct 5, 2009 6:34pm
Quoting mktjong
Ok, what is the point? Short or long?
I did all the work. I was hoping you would provide that answer.
I'm only here to provide the entertainment. LOL

Dr. D.
  • #173,191
  • Oct 5, 2009 6:41pm Oct 5, 2009 6:41pm
Quoting fourxtrader
I did all the work. I was hoping you would provide that answer.
I'm only here to provide the entertainment. LOL

Dr. D.
You kinda teasing everybody here but didn't provide a clue where the direction it might go .. so it's kinda meaningless posting unless the reader can comprehend it
  • #173,192
  • Oct 5, 2009 6:58pm Oct 5, 2009 6:58pm
That IS the Question...

As of now. I am saying up..

My reasoning is this. Ranging, we saw up to .6020 recently then cable was Batted down, However it lies on firm support @ the 5900 level and currently a minor support of about 5930.

Since the last pin on the H4, and H1 we have not stepped below the .5900 / 5875 support level.

Cable may be ultimately bearish, however the bulls are running or so it seems,
I will follow up with a chart or 2

Quoting mktjong
where the direction it might go ..
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #173,193
  • Oct 5, 2009 7:02pm Oct 5, 2009 7:02pm
Quoting mktjong
You kinda teasing everybody here but didn't provide a clue where the direction it might go .. so it's kinda meaningless posting unless the reader can comprehend it
any nursery kid can see its buy dips, forextrader did an excellent job, hats off to him.
  • #173,194
  • Oct 5, 2009 7:03pm Oct 5, 2009 7:03pm
hey all .. the USD is still pretty tightly tied to the DJIA .. finally saw a meaningful down move this week, and retest of support (which is hopefully now resistance) today (9600 level) .. also note daily MACD bearish divergence against the 10,000 mark .. if this plays out to the downside, with GBPUSD sitting near 5750/5800 large support, may see a considerable rise up before any move down.

have to wait and see what she gives us tomorrow ..
Attached Image (click to enlarge)
Click to Enlarge Name: djia.gif Size: 21 KB
  • #173,195
  • Edited 7:55pm Oct 5, 2009 7:48pm | Edited 7:55pm
Using H1 with Monthly outlines.

OK, I feel 5900, is VERY important. It seems to be serving as decent support,
that served as slight resistance early last week. (Green Line)
- We seem to be bouncing of this 5900 level

- Support noted @ 5850 with (red line) No body of candles has yet to close below.

AND - We have not breached 5800 support level since last week either.
(black line) with Red on Monthly bottom.

Next important area to me is:
.6010 /6020 area serving as decent resistance so far. Seems we are making 2nd attempt to breach this area.

IF, 6020 is sufficiently breached, I/we will be looking @ 6000 (blu), then 6100 as next resistance level. Noted with TOP (green line).

Here is the chart. Any comments, thoughts, analysis always appreciated.
X-

Edit: correct chart up now
Attached Image (click to enlarge)
Click to Enlarge Name: Picture 12.png Size: 73 KB
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #173,196
  • Oct 5, 2009 8:02pm Oct 5, 2009 8:02pm
Quoting mktjong
You kinda teasing everybody here but didn't provide a clue where the direction it might go .. so it's kinda meaningless posting unless the reader can comprehend it
Meaningless perhaps to the thoughtless reader.

My posts have always been intented to stimulate thought and have been explicit with detail rather than the ever shifting one line spew of opinions (guesses) and projections of the direction of the next movement. What good is that?

To me, that is meaningless. Well, to each his own.

I have chosen not to mislead with speculations. I have focused on a charting phenomenon that indicates 'no direction' and I have stated so repeatedly... a peculiar phenomenon when the marketplace is in complete agreement, both from the short term trader to the long term investor on every time frame. This happens often like a doji or pin bar for it occurs on every timeframe and is generally so short-live that the market moves rapidly and often violently from this position. Yet it goes unnoticed. That is the point... to alert volatility.

I've chosen not to chase my tail after every comment like a pack of dogs clammering for the scent of their own vomit.

Meaningless? Well, to each his own. Expel me from the thread if my posts are that meaningless.

Dr. D.
  • #173,197
  • Oct 5, 2009 8:25pm Oct 5, 2009 8:25pm
  •  sloof
  • | Joined Apr 2009 | Status: Birejji (ビレッジ) ►FOREX◄ | 141 Posts
Quoting jack.canadia
hey all .. the USD is still pretty tightly tied to the DJIA .. finally saw a meaningful down move this week, and retest of support (which is hopefully now resistance) today (9600 level) .. also note daily MACD bearish divergence against the 10,000 mark .. if this plays out to the downside, with GBPUSD sitting near 5750/5800 large support, may see a considerable rise up before any move down.

have to wait and see what she gives us tomorrow ..
lol looks like a giant H/S pattern there too
  • #173,198
  • Oct 5, 2009 8:30pm Oct 5, 2009 8:30pm
Hey guys,

I agree with the previous posts. I think we will see a move up on the G/U, and I think we may even push up to the 1.6300 level. Current pattern on the G/U since beginning of August has been 3 weeks down, 2 weeks up, with down part descending 600-700 pips, and upside going 400-500 pips. Last week ended as an up week for G/U and this should be the follow through week. If this holds true for one more cycle, then we may even see a push up to 1.6400 level (possible, but not probable) and from there I would see a 600 pip drop down past the 1.5700 mark.

Thoughts???
  • #173,199
  • Edited 10:56pm Oct 5, 2009 8:37pm | Edited 10:56pm
It is always necessary that traders figure out their own speculations that they are comfortable with, Fx Factory is a place for us to compare notes,
position ideas, etc.

I have not been here long but, I learned QUICKLY the only TRADER one can trust is one self. That being said, please keep up your unique, individual, analysis!
Great work!

edit to add: This is a great place we have here to exchange ideas. I am not opposed to exchanging entries, TPs, SLs, BUT, in essence, from my own experience these are added bonuses and something to pass the time. It is always helpful to see how someone else may see the same thing "you" may be looking at, yet, The true thought, speculation, entry, exit, has to be from within. Otherwise what are we learning from one another?

Quoting fourxtrader
Meaningless perhaps to the thoughtless reader.

My posts have always been intented to stimulate thought and have been explicit with detail rather than the (guesses) and projections of the direction of the next movement. What good is that?

To me, that is meaningless. Well, to each his own.

I have chosen not to mislead with speculations. [i][color=#0000ff][b]I...
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #173,200
  • Oct 5, 2009 8:39pm Oct 5, 2009 8:39pm
  •  sloof
  • | Joined Apr 2009 | Status: Birejji (ビレッジ) ►FOREX◄ | 141 Posts
$5 says G/U goes up to 1.6160 before crashing
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