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Cable Update (GBPUSD)

  • #184,921
  • Nov 27, 2009 1:59am Nov 27, 2009 1:59am
Why the big move?

I don't look at fundamentals.... they are never reliable.

The 1h drop came from the energy generated by the compression and separation. The move satisfied the need on the 4h chart to achieve a fib retracement.

Where next? If the 4h chart (followed by the daily) were to continue in this direction and produce their gathering of ema's into a convergence and tight compression we might see enough energy produced to hurl this upward to ~1.7200 and a 50.0 fib retracement on the weekly.

Dr. D.

Attached Images
  • #184,922
  • Nov 27, 2009 2:01am Nov 27, 2009 2:01am
6249 is the next support

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S + R = $$
  • #184,923
  • Nov 27, 2009 2:03am Nov 27, 2009 2:03am
Quoting egkid
Long 1.6270 g/u
I don't like go long while trend is down but will take this retrace
check the 4h chart
http://www.forexfactory.com/showthre...86#post3265286
and here it's 1h chart looks bottoms
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  • #184,924
  • Nov 27, 2009 2:05am Nov 27, 2009 2:05am
Quoting citrusvtk
GU touched 1.6270 stop down now ???
buy signal or not ?
I would absolutely not recommend any buys here; sure one can scalp, but between big spreads and lightning quick market moves, it can easily turn against you. The fundamentals are terrible, and GU's only gotten going - you don't want to be trying to catch a falling knife.
  • #184,925
  • Nov 27, 2009 2:10am Nov 27, 2009 2:10am
Quoting Beljevina
I would absolutely not recommend any buys here; sure one can scalp, but between big spreads and lightning quick market moves, it can easily turn against you. The fundamentals are terrible, and GU's only gotten going - you don't want to be trying to catch a falling knife.
True but i keep an eye on it and i know my sl and tp
  • #184,926
  • Nov 27, 2009 2:13am Nov 27, 2009 2:13am
Quoting direct-trade
i wanna post somthing in your g/u u/j gpy thread but i cant sm able to. can u pm and lt m know what it is i ned to do please
  • #184,927
  • Nov 27, 2009 2:13am Nov 27, 2009 2:13am
Hi guys,

Took some days off....and missed this collapse on all markets

It seems Dubai debts announcement and anticipated payment failures cause all this....markets are so sensible now....

The only question now is where it will stop....on cable PA hit 50% fib....might be a good support....but not sure....who can be ????

GL to all
Non licet omnibus adire Corinthum
  • #184,928
  • Nov 27, 2009 2:15am Nov 27, 2009 2:15am
  •  sloof
  • | Joined Apr 2009 | Status: Birejji (ビレッジ) ►FOREX◄ | 141 Posts
Quoting javajames
The only question now is where it will stop....on cable PA hit 50% fib....might be a good support....but not sure....who can be ????
A great thing to keep in mind
  • #184,929
  • Nov 27, 2009 2:19am Nov 27, 2009 2:19am
Looks like the London boys are buying now
  • #184,930
  • Nov 27, 2009 2:21am Nov 27, 2009 2:21am
Quoting citrusvtk
hello man..how are you...
whats your TP ???
im long too, my tp is 1.6500
me 2 1.65 and sl 1.62
70 pip risk reward 230 pip
  • #184,931
  • Nov 27, 2009 2:22am Nov 27, 2009 2:22am
this red line will be hard to break.

i went long, let's see how it goes.
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  • #184,932
  • Nov 27, 2009 2:23am Nov 27, 2009 2:23am
Quoting sibajnok
this red line will be hard to break.

i went long, let's see how it goes.

Thats right. It went down so far and so fast without any major retrace. Looks to me like loaded spring. ergo long as well
  • #184,933
  • Nov 27, 2009 2:27am Nov 27, 2009 2:27am
Quoting mr.m
just wondering who else thinks, based on their system of course, that this is headed down all the way to the 6200 levels after today?
Well, well, well Mr. M...... and all those that were able to tell this.

I can't tell were the market is heading or when things will turn, but hopefully I know how to follow my charts.


The Long Swinger at that stage went out for +24 wich is not that spectacular for a Swing Trade but since then Im short from 1.6592 @ 12gmt 26/11 currently at +250

I told you I'll be on the South Bound Train with you...
  • #184,934
  • Nov 27, 2009 2:42am Nov 27, 2009 2:42am
Quoting sibajnok
this red line will be hard to break.

i went long, let's see how it goes.
+65 pips within 20 minutes so far.
  • #184,935
  • Nov 27, 2009 2:54am Nov 27, 2009 2:54am
kicked one short EURUSD at 1.4871 target adjustable 1.4839

do not copy, on your risk
When life gives you lemons, make lemonade
  • #184,936
  • Nov 27, 2009 3:19am Nov 27, 2009 3:19am
there is a chance of a massive 4h pin bar, if that will play out trading will become very interesting and confusing
  • #184,937
  • Nov 27, 2009 3:34am Nov 27, 2009 3:34am
Quoting micho
kicked one short EURUSD at 1.4871 target adjustable 1.4839

do not copy, on your risk
target at BE
When life gives you lemons, make lemonade
  • #184,938
  • Nov 27, 2009 3:43am Nov 27, 2009 3:43am
Quoting mr.m
I believe the following will happen. However, this is still only my opinion!
Hi there guys, i would really like to discuss this drop. My theory purely stems out of Swing and range trading strategy - using a combination of the Force Indicator and Simple Candle-stick analysis.

Im really interested in knowing others who specialize in other theories such as Elliot waves or any other etc can explain this fall better and perhaps more easily.
  • #184,939
  • Nov 27, 2009 3:52am Nov 27, 2009 3:52am
I closed my GU longs. now some pullback may come.

I sold @6387, but expecting only couple of pips, still remaining at the bull side.
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  • #184,940
  • Nov 27, 2009 4:22am Nov 27, 2009 4:22am
did you close out your short for a few pips or are you still holding?

Quoting sibajnok
I closed my GU longs. now some pullback may come.

I sold @6387, but expecting only couple of pips, still remaining at the bull side.
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