Cable Update (GBPUSD)

Nice break on H1 support. I have short position opened @ 1.6312. Already BE and floating +30 pip. Lets see if this is a real runner

Just like i predicted earlier, another 100+ pips for me!

Keep my short from 6380 next target 6200 area

Yeah, it's going down...Cheers short decided bros

Just can helped price was at 6340 when this was post .
when you target other be ready that it will come back at you

This "could" create new multi day cable range...

we'll see. so far today chart shows higher highs and higher lows out of range.

Here's the follow-up on the 5m chart posted 4+ hrs earlier showing what happens when the ema's continue to converge to compression.... 'another breakout'. The current move down so far (without news to add further energy) yields 75+ pips compared to the previous move up of 150+ pips that included news... both off of a compression breakout.

You will notice the gathering / converging / compressing of ma's is most always slow and methodical; whereas their release and separation is rapid and explosive. Therefore, locating charts (time frames) that are nearest to compression (ema's closely gathering, converging and compressing) and further analyzing the probable direction with other preferred trading systems could result in more production per trade for the same effort.

Dr. D.

Hi FOURXTRADER, what ma's do u use on your chart .. if you don't mind me asking?? cheers
jean

We broke previous day open ,,, ad more short at 6280

wee!! back in my wedge!

Hi All

Like I said yesterday

USD - will up ... U will see. @1.6 in this week.
Sell GU, EU ...Buy J, C... Who followed me...they are winning. Big Money .. got it. . Good4all

Gday&Gtrade

we migth get back in no man lands no real support or resistance showing from the previous long candle on the daily chart back to 59 60 area
if price keep falling below 62

6242 was rejected quite hard, currently bouncing off a previous support @6270

wait for a break - watch the ascending TL/wedge break, and 1.6166

possible free-fall tonight after a possible range

close all my short for a 160 pip. will get back in tomorow time for sleep and it sleep alot better when you dont have a open position

its going to be a nice break at 1.622x soon...

I use (6), 18, 36, 54, 72, 90, 108, 126, 144. They are all exponential moving averages
as the weighting decreases with each previous datum period. The advantages... more
recent change in the price will have a greater influence (weighting) on the reactivity or
response of the slope.

I don't consider these particular intervals (18 periods between each) to be significant.
Any sizable group of moving averages that are evenly spaced will do since it is the overall
collective pattern that is important. However, the range (spanning larger periods) is more
significant to add strength to the pattern and the amount of energy to be generated as
they converge and release.

Moving averages are similarly useful and highly respected as continual moving points of
support and resistance (see EOHater's FF thread and commentary) and as points of entry
and destination (see Magix's MTF FF thread and commentary).

Dr. D.

thank you very much FOURXTRADER. you've been very helpfull. cheers

jean

It just kissed my wedged TL, and on its way down again..

This feels great..

collecting more pips.

This is why I don't marry to trades, and take my profits, and wait for more opportunities. Would have sucked to come close to BE..

Cant go broke taking profits..

kaboom is on the go...1.622x is going to break

what was hapenning? Fiber down 200pips, Aussie & Kiwi down >100pips, Cable has more stronger only down 50pips..