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Cable Update (GBPUSD)

  • #182,841
  • Nov 13, 2009 12:44pm Nov 13, 2009 12:44pm
Quoting gammase1
I thought you were either talking complete b/s or having some fun. Glad it's the latter.

It was a good call on direction, all the same.
hi, i know you from T2W
  • #182,842
  • Nov 13, 2009 12:49pm Nov 13, 2009 12:49pm
Quoting BiggerPips
hi, i know you from T2W
Nope. I've never been on that site.
  • #182,843
  • Nov 13, 2009 1:12pm Nov 13, 2009 1:12pm
Quoting No Stress
Congratulations bro, which color do you like for your porsche? lol
http://panachereport.com/channels/hi...3_wxgoC_52.jpg
  • #182,844
  • Nov 13, 2009 1:16pm Nov 13, 2009 1:16pm
Quoting allserene
http://panachereport.com/channels/hi...3_wxgoC_52.jpg

That's Porsche for micro account !!

I don't think that Malcolmb is trading with that one lol.
No Signal, No Trade. No fundamenals, No headache.
  • #182,845
  • Nov 13, 2009 2:01pm Nov 13, 2009 2:01pm
  •  IbkA
  • | Joined Nov 2009 | Status: 'Hope' + 'Greed' = GAMBLING... | 514 Posts
I believe you've responded to a post from November 16th a few years ago - when someone asked if cable would go to 1.9000; cable's not hitting 1.9000 anytime soon although I'm not sure about how HUGE a resistance 1.6700 is going to be over the next fortnight; 1.704 will be huge, and if the weekly chart is anything to go by 1.75x will be HUGER, but 1.6700 isn't that strong even though it's hard to crack today.

1.6700 went quite easily last week, may do so again next week imho.



Quoting fxextreme
No, I think 1.6700 is going to actually provide HUGE resistance...anyone agree?
  • #182,846
  • Nov 13, 2009 2:40pm Nov 13, 2009 2:40pm
  •  IbkA
  • | Joined Nov 2009 | Status: 'Hope' + 'Greed' = GAMBLING... | 514 Posts
Hi all

Here's my 'questions' on cable for next week seeing a visible cup and handle has formed on the weekly chart for a few weeks' now. (sorry for the arrows out of place on the chart!).

1. Might it gap up to 1.6716 on Sunday opening.
2. Might it do what it did in the 2 weeks beginning 12 October 2008 i.e.opened at 1.6716 went all the way up to 1.676x and then fell all the way down to 1.52639 by the end of the following week (Direct Trade, Malcomb, Wormboy, might this be the big fall you've been waiting for?).

DirectTrade, please may I post directly to your thread please, can't do this as a newbie unless you give me permission to, tried to PM you, couldn't do so also. Would like to pick your brains on a few thoughts as you seem an ace with the pair.
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  • #182,847
  • Nov 13, 2009 7:33pm Nov 13, 2009 7:33pm
Quoting IbkA
Hi all

Here's my 'questions' on cable for next week seeing a visible cup and handle has formed on the weekly chart for a few weeks' now. (sorry for the arrows out of place on the chart!).

1. Might it gap up to 1.6716 on Sunday opening.
2. Might it do what it did in the 2 weeks beginning 12 October 2008 i.e.opened at 1.6716 went all the way up to 1.676x and then fell all the way down to 1.52639 by the end of the following week (Direct Trade, Malcomb, Wormboy, might this be the big fall you've been waiting for?).
IMO, Guessing the gap and weekend holds are done by the long termers, and a gamble for the rest. There are so many opportunities that will present throughout the week, if you want to gamble some funds over the weekend, why not hit the casino?

That's just me.

I think a lot of folk will agree that we have seen a short to consolidation area on the charts favoring a long position, but every play is up to the individual trader.

The weekly I have posted, with a few indies, shows more by way of support with targeted areas, and as momentum and trends go, why not just play the trend?

Speculation over timeframes and guessing targets has been a sore spot over recent weeks, so expect a lot of "For and Against" posts to follow, as well as independent views, this is just my take.

The yellow dotted line is a 600 EMA, which seems to be some what of a resistance, however, OSMA and MACD seem to be charging for another run at it. The daily looks as if needs correction to the southside, but the H4 says we have support and it is back onto the weekly trend...BULLS.

The solid yellow line on the chart is a 200 EMA, which over recent weeks has proven itself as a fairly valuable support and resistance line. Throw in on a couple of different time frames, I think you will see what I am saying.

Having sat out most of the market this week being abscent, I am looking forward to a decent week with fantastic playable opportunities in both directions, but will be favoring the bulls.

Hey, just my dos centavos....Play em as you sees em.

M
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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #182,848
  • Nov 13, 2009 11:47pm Nov 13, 2009 11:47pm
bought on a weekly doji at resistance ?

target based on symmetry as dj's is , 1.6460

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Quoting IbkA
Hi all

Here's my 'questions' on cable for next week seeing a visible cup and handle has formed on the weekly chart for a few weeks' now. (sorry for the arrows out of place on the chart!).

1....
Blogging daily now at www.volume.zone
  • #182,849
  • Nov 13, 2009 11:53pm Nov 13, 2009 11:53pm
daily .... 1.6467 target , then bounce ...maybe 1.6600 only

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Blogging daily now at www.volume.zone
  • #182,850
  • Nov 14, 2009 12:15am Nov 14, 2009 12:15am
EURGBP not confirmed but favoring upwards 0.8950 then 0.8962

EURUSD no clear direction (stand aside)
GBPUSD no clear direction (stand aside)
USDZAR no clear direction (stand aside)
USDCAD waiting for more retrace for possible sell, target adjustable 1.0395 then 1.0393
USDJPY waiting for retrace for possible sell, no target defined yet
NZDUSD waiting retrace for possible buy, no target defined yet
GBPJPY no where to go (stand aside)
EURJPY no clear direction (stand aside)
AUDUSD (stand aside)
When life gives you lemons, make lemonade
  • #182,851
  • Edited 2:44am Nov 14, 2009 1:52am | Edited 2:44am
Will wait for a better price to short with a stop at 1.6900.. 1.6740-1.6850 might be a good shorting area
I suspect major pips are downside on this one but patience and a good entry is key to avoid huge draw down..



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Some drink at the fountain of knowledge. Others just gargle !
  • #182,852
  • Nov 14, 2009 2:46am Nov 14, 2009 2:46am
Here is my gbpusd views :
Price from 1.6690/98 to 1.6666 & ready for inverted h& S in M5 tf to bull towards 1.6763/84 when again to try inverted h&S in H4 return to 1.6600. And from again to play Inverted h&S in H4 with daily to bull at 1.6992/7037.
Any thing can happen though or can play this way or that way the same or any H&S patterns but max. chances are in bull than bear apparently.
fontu
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #182,853
  • Nov 14, 2009 2:57am Nov 14, 2009 2:57am
Quoting plan-b
Will wait for a better price to short with a stop at 1.6900.. 1.6740-1.6850 might be a good shorting area
I suspect major pips are downside on this one but patience and a good entry is key to avoid huge draw down..



Attachment

A closer look (4H) depending on how market opens i will place a sell stop entry at 1.6740
and see if the falling trend line holds

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Some drink at the fountain of knowledge. Others just gargle !
  • #182,854
  • Nov 14, 2009 3:38am Nov 14, 2009 3:38am
Quoting grashid
we are above 1.6630 we are still in bull camp....
ranging play with between 1.6666-1.6630 before today close... either fro this both number...for confirmation of inverted DOJI?

My next visit will be 1.6740....

Another 400pips from current price of 6640 will be there if 1.68 broken for my next target of 1.7040...

cheer and happy weekend to all

p/s: Becarefull at 6600
2 pit after yesteday close...

1.6740 or 1.6450 which one come first?.......
Let wait on monday open and how monday close..

Good luck all and hapy weekend....see all of u on Tuesday
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  • #182,855
  • Nov 14, 2009 6:07am Nov 14, 2009 6:07am
Quoting grashid
2 pit after yesterday close...

1.6740 or 1.6450 which one come first?.......
Let wait on Monday open and how Monday close..

Good luck all and Happy weekend....see all of u on Tuesday

Hi Grashid,

are you waiting for Monday close before you put on a trade?


Here is what I see the upcoming week guys... Trading with Oanda so I will take this position on Sunday (before open). I am expecting a choppy week. SL/TP -130/320

I see that I could have drawn GBPUSD bull lines instead but since COT was negative for GBP yesterday, I am betting down...


Anyways here are the charts... in 1H
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  • #182,856
  • Nov 14, 2009 6:48am Nov 14, 2009 6:48am
please can you tell me the site where i can see the COT ? i am interested for EURO/USD. thanks.
  • #182,857
  • Nov 14, 2009 9:18am Nov 14, 2009 9:18am
Quoting Larseg
Hi Grashid,

are you waiting for Monday close before you put on a trade?


Here is what I see the upcoming week guys... Trading with Oanda so I will take this position on Sunday (before open). I am expecting a choppy week. SL/TP -130/320

I see that I could have drawn GBPUSD bull lines instead but since COT was negative for GBP yesterday, I am betting down...


Anyways here are the charts... in 1H
Am flexible..

Monday open - London open will be my observtion and let see if i have an oppurunity to start my setting during that tf. Otherwise Monday NY or Tuesday (All time is base on Msia time).

Good luck for your bet.
  • #182,858
  • Nov 14, 2009 9:44am Nov 14, 2009 9:44am
Working off of the 4hr and because I once again suck drawing possible tops and bottoms based on previous consolidation or spiked areas, I prefer to just assume the trend. On my 4hr, which relates to the weekly chart posted a page or so back, this is the support range that I am currently working with and the trend I expect to continue on.

The trend that I am working on is based on price of the 4hr crossing and holding above the 24SMA. Also looking at where we are from the perspective of the MACD and OSMA being in agreement and above the zero lines also supporting another topside run. Daily and weekly resistance would seem to be more of where we might turn instead of assuming that we will automatically go into a nose dive on market open.

A single occurrence, might be viewed as an anomaly, a second might be considered a coincidence, 3rd time I call a trend.

This is only a snapshot of the 4Hr time frame, a review back would show that this doesn't seem to be by accident. As the 24SMA is what I use for scalping the smaller time frames it has proven itself to be a fairly valuable tool, and only seems to headfake when playing counter trend.
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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #182,859
  • Nov 14, 2009 9:49am Nov 14, 2009 9:49am
Quoting Magix
Working off of the 4hr and because I once again suck drawing possible tops and bottoms based on previous consolidation or spiked areas, I prefer to just assume the trend....

what if those indicators give you a fake long reload and istead u find urself into climactic selling frenzy as suggested by those lower highs forming
also ur looking to relong close to weekly proven resistance which might have poorer chances of being in the money
Thank you Malcolm, Belekas, Jim, raczekfx and Ryanmcd !
  • #182,860
  • Nov 14, 2009 9:51am Nov 14, 2009 9:51am
Quoting djambazov84
what if those indicators give you a fake long reload and istead u find urself into climactic selling frenzy as suggested by those lower highs forming
also ur looking to relong close to weekly proven resistance which might have poorer chances of being in the money
I prefer this one.. LOL..
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