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Cable Update (GBPUSD)

  • #180,601
  • Nov 3, 2009 3:39pm Nov 3, 2009 3:39pm
Quoting direct-trade
Been busy and not much time to post, one thing I do know is that this is going to drop so far that many accounts are going to be blown.

You heard it here first, 15500 and below by Friday...

Got to go, busy watching HUGE sell orders flowing in...may take a day or so for the show to begin, but begin it certainly will.
LOL
  • #180,602
  • Nov 3, 2009 4:15pm Nov 3, 2009 4:15pm
currently long on this pair. i can see a correlation to EURUSD from charts. waiting for upper trendline to get hit, and possibly broken.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.jpg Size: 83 KB
  • #180,603
  • Nov 3, 2009 4:20pm Nov 3, 2009 4:20pm
usdx daily chart
today was an upthrust into that freaking upper trendline u tell me if this whole dollar rally was just a bear retracement....


today`s down thrust type of day in cable cant make me beleive that shorts will rule tomorrow...

a nice no brainer long could be 1.6330-1.6350

look at that area if price goes there i am almost certain it could be at least scalpable for 30-40 pips depending on prevailing market conditions - retrace after a breakout or a solid down move that could be a longs shakeout...try to see it for yourself when the time comes

i`m personally betting on a nice long opportunity with SL of no more than 20 pips. that will be enough for you to know if the level might hold for a bit or just be blasted thru....
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gu.jpg Size: 86 KB
Click to Enlarge Name: usdx.jpg Size: 86 KB
Thank you Malcolm, Belekas, Jim, raczekfx and Ryanmcd !
  • #180,604
  • Nov 3, 2009 4:21pm Nov 3, 2009 4:21pm
Quoting ABoulfoul
currently long on this pair. i can see a correlation to EURUSD from charts. waiting for upper trendline to get hit.

absolutely beautiful chart !

i think i have seen this style of naked charting somewhere else
Thank you Malcolm, Belekas, Jim, raczekfx and Ryanmcd !
  • #180,605
  • Nov 3, 2009 4:53pm Nov 3, 2009 4:53pm
Quoting djambazov84
absolutely beautiful chart !

i think i have seen this style of naked charting somewhere else
thanks. i'm banking on the big players seeing the same triangle i do.
  • #180,606
  • Nov 3, 2009 5:00pm Nov 3, 2009 5:00pm
Quoting Yngwie
let say.. going down to 1.6250 and then going up to 1.6450
what a script~! After 18 hrs my post .. price sell 1.63864 closed 1.6260 for 126 pips. Buy 1.6265 closed 1.6450 for 185 pips. Total 311 pips.
Live trade ~ GBPUSD only. No chart! Follow at your own risk!
  • #180,607
  • Nov 3, 2009 5:02pm Nov 3, 2009 5:02pm
Just reading through your previous posts on seeing this one - have you ever placed a wrong order or thought a pair were headed in one direction only for it to turn on you? Probably not, besides the day you bought Euro at 1.5045 I guess LOL.

The fact is no one can really predict where a pair is going, Direct
Trade is one of the good ones who mainly gets it right, sometimes gets it wrong, and is very quick to say when he's got things wrong - haven't seen that many posts from you to confirm you're in DT's league LOL.

Quoting ziko123
LOL
  • #180,608
  • Nov 3, 2009 5:27pm Nov 3, 2009 5:27pm
as we both know form our great conversation on skype anything can happen at any time.....

GU dropped overnight to be taken up with bear vol div into supply zone during US session .

if i am not mistaken today dx still closed above yesterdays close , although there was considerable game playing going on

gold ripped and es ripped ... ok so gold ripping and usd ending up for day does not sound right.

tomorrow should be a fun day as there is tons of news.

I find it odd that ES was moved up to exactly close on yesterdays close after a 20 point drop in globex.

Quoting djambazov84
usdx daily chart
today was an upthrust into that freaking upper trendline u tell me if this whole dollar rally was just a bear retracement....


today`s down thrust type of day in cable cant make me beleive that shorts will rule tomorrow...

a nice no brainer long could be 1.6330-1.6350

look at that area if price goes there i am almost certain it could be at least scalpable for 30-40 pips depending on prevailing market conditions - retrace after a breakout or a solid down move that could be a longs shakeout...try to see it for yourself...
Blogging daily now at www.volume.zone
  • #180,609
  • Nov 3, 2009 5:32pm Nov 3, 2009 5:32pm
The daily is saying up to me, but the 15min is showing some negative divergence, so we may see a retrace soon before going higher.
  • #180,610
  • Nov 3, 2009 5:40pm Nov 3, 2009 5:40pm
Quoting malcolmb14
as we both know form our great conversation on skype anything can happen at any time.....

GU dropped overnight to be taken up with bear vol div into supply zone during US session .

if i am not mistaken today dx still closed above yesterdays close , although there was considerable game playing going on

gold ripped and es ripped ... ok so gold ripping and usd ending up for day does not sound right.

tomorrow should be a fun day as there is tons of news.

I find it odd that ES was moved up to exactly close on yesterdays close after a 20 point...
i can see buyers off 1030 but it was also sold @ 1042
my guess is it will rip tomorrow or make a lower low first and then rip
Thank you Malcolm, Belekas, Jim, raczekfx and Ryanmcd !
  • #180,611
  • Nov 3, 2009 5:44pm Nov 3, 2009 5:44pm
clear 5 min triangle gu up or down ?

i say continuation and will try an exploratory long off mini tl touch
if it does not get broken of course
Attached Image (click to enlarge)
Click to Enlarge Name: gu.jpg Size: 78 KB
Thank you Malcolm, Belekas, Jim, raczekfx and Ryanmcd !
  • #180,612
  • Nov 3, 2009 5:49pm Nov 3, 2009 5:49pm
Quoting djambazov84
clear 5 min triangle gu up or down ?

i say continuation and will try an exploratory long off mini tl touch
if it does not get broken of course

broken to the downside for now

longs might have to wait till 1.6350 zone

p.s. lol if break down is fake then this could be a complete reversal in favor of longs
hold ur breath now
Thank you Malcolm, Belekas, Jim, raczekfx and Ryanmcd !
  • #180,613
  • Nov 3, 2009 5:51pm Nov 3, 2009 5:51pm
Quoting djambazov84
i can see buyers off 1030 but it was also sold @ 1042
my guess is it will rip tomorrow or make a lower low first and then rip

or drop .....and today was mark up day

I was selling off 1042 buying off 1031 all day ... insane

started off rocky with 4 point loss ... but once I got range and s/r levels was fairly straight forward

also played oil long , although did not stay in all move .. look 15 min oil .. lovely 15 min vsa set up at bottom
Blogging daily now at www.volume.zone
  • #180,614
  • Nov 3, 2009 5:53pm Nov 3, 2009 5:53pm
Quoting malcolmb14
or drop .....and today was mark up day

I was selling off 1042 buying off 1031 all day ... insane

started off rocky with 4 point loss ... but once I got range and s/r levels was fairly straight forward

also played oil long , although did not stay in all move .. look 15 min oil .. lovely 15 min vsa set up at bottom
i told u about oil that its going least 80 and now that i look it broke the daily upper trendline i think it broke the flag i was telling about

keep in mind that if that happens to hold daily pole is from 65 to 82
17 dollar move
Thank you Malcolm, Belekas, Jim, raczekfx and Ryanmcd !
  • #180,615
  • Nov 3, 2009 6:01pm Nov 3, 2009 6:01pm
Quoting djambazov84
i told u about oil that its going least 80 and now that i look it broke the daily upper trendline i think it broke the flag i was telling about

keep in mind that if that happens to hold daily pole is from 65 to 82
17 dollar move
dropped $1.5 overnight as mentioned on last 5 min candle of yesterday

I picked it up very close to lows , cloased at yesterdays close.

if she passes up thru 79.7 tomorrow then 80.5 test on cards .. will all depnd on what cooks on the usd tomorrow ,

we could still be in for this ranging

the 20 point ES range right now is a possible top as vix increases the max at tops and bottoms of markets. ...

I just hope the vix remains high for a bit.
Blogging daily now at www.volume.zone
  • #180,616
  • Nov 3, 2009 6:04pm Nov 3, 2009 6:04pm
Quoting malcolmb14
dropped $1.5 overnight as mentioned on last 5 min candle of yesterday

I picked it up very close to lows , cloased at yesterdays close.

if she passes up thru 79.7 tomorrow then 80.5 test on cards .. will all depnd on what cooks on the usd tomorrow ,

we could still be in for this ranging

the 20 point ES range right now is a possible top as vix increases the max at tops and bottoms of markets. ...

I just hope the vix remains high for a bit.

we all need the vix to go up
Thank you Malcolm, Belekas, Jim, raczekfx and Ryanmcd !
  • #180,617
  • Edited 6:31pm Nov 3, 2009 6:18pm | Edited 6:31pm
MAE all,
Hope you are well!

WOW what a day for GOLD! Record high broken!

I am surprised the cable did not follow spot AU at least a tad bit more.

Did anyone take advantage of this on Forex Spot AU?

Charts H1 - Nov 3 -
Cable / AU overlay
Cable / USD Overly
AU Spot / USDX

What I find interesting is that the USD did not fall More when AU went Higher. Thought this would be more of a violent fall. Usually the two charts are more of a mirror than today's activity.
Guess we'll see tonight & tomorrow.

India Bought 200 Metric Tons of Gold from the IMF today.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Cable Gold Overlay H1_Nov3.png Size: 35 KB
Click to Enlarge Name: Cable Usd Overlay H1.png Size: 38 KB
Click to Enlarge Name: AU spot USDX Nov 3 _H1.png Size: 37 KB
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #180,618
  • Nov 3, 2009 7:31pm Nov 3, 2009 7:31pm
Quoting TrendExpress
opened long at 1.6301 target - 1.6440 (first strong resist)
Quoting ams
Why go long?
Quoting SwissKinseb
be careful with longs, trend is still down
Quoting pipmyride
lol and u say ur username is Trendexpress !
Quoting mloistianto
I dont see any strong reason to go long, check your TL, Check your fibos.. does it tells u to do so? Unless you are playing with luck. Then i have no comment on that..
Quoting forexlion
Good Job

I am Long too

  1. Never laugh at someone when he calls a trade.
  2. Try to look at your charts for the reason he called that trade.
  3. I confirmed that long and took it for 120+ pips

  • #180,619
  • Nov 3, 2009 8:15pm Nov 3, 2009 8:15pm
Nice set-up coming shortly for a bullish swing from "e" .... ?
Attached Image (click to enlarge)
Click to Enlarge Name: 091104-GBPUSD.gif Size: 48 KB
  • #180,620
  • Nov 3, 2009 8:29pm Nov 3, 2009 8:29pm
Good day to you all,

Attached a chart with levels I am looking at. Numbered and referenced:

1) This is the 50% line of last week sitting @ 1.6426 - this area has been relatively strong resistance. Price could not sustain above this level recently.
2) In this area, we have confluence of the Monday close @ 1.6406, together with the Monthly opening price @ 1.6403 as well as the 1.6400 round number. This needs to hold for me to give me some confidence towards the final target area.
3) Below 1.6400, we have the upper level of the daily channel, by low, sitting @ 1.6386
4) Further support is offered @ 16368 - this is the 50% line of the November range so far.

Price is now trading above a couple of decent support levels, as indicated with numbers 2,3 and 4

As resistance above price, first hurdle to sustain is the Friday close @ 1.6415, then the 50% line of last week @ 1.6426 (as mentioned above) and then we need to get past today's opening price again at 1.6437

5) Only then could we retest yesterday's high @ 1.6454

So, some decent resistance levels above price as well....

We will probably see price ranging between 1.6368 and 1.6437 until direction to continue is established

I am still long, with yesterdays pin type bar on the daily chart giving me a little bit of hope that we may retest the 1.6450ish area - but news is coming and I will soon have to start managing the positions to limit risk.

Wish you all success

Regards
Attached Image (click to enlarge)
Click to Enlarge Name: gu10006.gif Size: 20 KB
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