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Cable Update (GBPUSD)

  • #189,161
  • Dec 23, 2009 10:37am Dec 23, 2009 10:37am
Pending order sell stop : 1.5925 take profit 1.5830
  • #189,162
  • Dec 23, 2009 10:37am Dec 23, 2009 10:37am
Quoting dil
next support level ?
If broken may go to at least 1.58860/92 !
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #189,163
  • Dec 23, 2009 10:47am Dec 23, 2009 10:47am
Quoting GlobalMacro
Bearish momentum subsided today
Cable tested former down TL around 1.5920 and bounced

As such I'm buying here @ 1.5955 ...just below yesterday's stopout level anticipating re-entry into prior range zone.


Merry Christmas!
GM

Holding on until daily candle finishes for Long starts.
Good Luck GM

Happy Xmas everyone
  • #189,164
  • Edited 11:01am Dec 23, 2009 10:48am | Edited 11:01am
Quoting IbkA
Hi Yngwie

Sorry, I'm learning at the moment in prep. for 2010, just wanted to learn the reason behind your calls, including this one, any charts or so?

We obviously haven't broken 1.600 yet as the dollar is fighting back as we speak, but how are you sure we're headed straight back down to just 1.5932 , and not beyond there to, say 1.58 or 1.57?

Just interested in your methods.

Many thanks.

i
Hi Ibka

My method just simple based on PA. 1.5995 is my pivot atm and may become a strongest resistance. If price can't pass it surely it will going down. It wisely if we enter trade at the best moment for small risk SL. I 80% say it may goin down to 1.5895 but just for safe and i follow the lower ranging price for safe TP.
Live trade ~ GBPUSD only. No chart! Follow at your own risk!
  • #189,165
  • Dec 23, 2009 10:51am Dec 23, 2009 10:51am
Quoting manize
Congratz !!!! Let me hold who knows 1.5928 is broken and goes to 1.5816 !
Yes manize.. we may going down maybe to 1.5895. but just be safe i take it on the run.. hahahaha
Live trade ~ GBPUSD only. No chart! Follow at your own risk!
  • #189,166
  • Dec 23, 2009 10:59am Dec 23, 2009 10:59am
Quoting Jagdev
hi....
can u explain what is sl and tp?
sl=stop loss tp=take profit
Live trade ~ GBPUSD only. No chart! Follow at your own risk!
  • #189,167
  • Dec 23, 2009 11:00am Dec 23, 2009 11:00am
Quoting Yngwie
Yes manize.. we may going down maybe to 1.5895. but just be safe i take it on the run.. hahahaha
Are u watching what's happening with all pairs? USD broken bull flag against all of them, euro aswell, Cable only one keeping the downtrend (but for how long?). A break of 1.6024 is what cable needs to pump up.
"Hate the sin, love the sinner." - Gandhi
  • #189,168
  • Dec 23, 2009 11:01am Dec 23, 2009 11:01am
  •  IbkA
  • | Joined Nov 2009 | Status: 'Hope' + 'Greed' = GAMBLING... | 514 Posts
Just wanted to understand your exact methods as we'e currently only done 70 pips today, so not quite sure how you deemed it would stop at 1.5932 exactly rather than break this and go down another 100 pips to complete the ADR of about 170 pips or so.

Been very weird watching this flitting about between 70 pips all day when I expected it go straight down without a fight today but interesting to watch the battle anyway.


Thanks again for your reply.

i



Quoting Yngwie
Hi Ibka

My method just simple based on PA. 1.5995 is my pivot atm and may become a strongest resistance. If price can't pass it surely it will going down. It wisely if we enter trade at the best moment for small risk SL.
  • #189,169
  • Dec 23, 2009 11:11am Dec 23, 2009 11:11am
Hello,
For me it is a fairly ranging day,and that is why I was not trading.It is safe to wait for a clear break of this range(1.5995 to 1.5920) to think of an entry.
atheer1
atheer1
  • #189,170
  • Dec 23, 2009 11:27am Dec 23, 2009 11:27am
Quoting TheGabriel
Are u watching what's happening with all pairs? USD broken bull flag against all of them, euro aswell, Cable only one keeping the downtrend (but for how long?). A break of 1.6024 is what cable needs to pump up.
Just to quote myself...
USD rally might have found an end

GBPCHF heavly sold, it might support Cable but i think that's just because of the very strong CHF not the pound so I'm seeing Cable up from here.
By the way....sorry for the bullshit picture
"Hate the sin, love the sinner." - Gandhi
  • #189,171
  • Dec 23, 2009 12:13pm Dec 23, 2009 12:13pm
Remember how I mentioned the "M" pattern? Well it is still possible that we see more humps so I still think we're heading up,but if this breaks below 1.57... you know it'll crash so I'd probably go long with an S/L at 1.5650 or so if I weren't just watching from the sidelines =P with a TP from 1.64 to 1.7
  • #189,172
  • Dec 23, 2009 12:40pm Dec 23, 2009 12:40pm
we going down
  • #189,173
  • Dec 23, 2009 12:57pm Dec 23, 2009 12:57pm
sell 1.5963 t/p 1.5945
  • #189,174
  • Dec 23, 2009 1:09pm Dec 23, 2009 1:09pm
I noticed this last night..
This is a weekly chart I watch.. With the 61% resistance it couldn't break..

Here it is and we are under the 50% now.. but when you zoom out onto a 15 minute intraday around the 50% it shows some very accurate price action testing it and breaking it's support..
Attached Image(s) (click to enlarge)
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  • #189,175
  • Dec 23, 2009 1:14pm Dec 23, 2009 1:14pm
Quoting dil
sell 1.5963 t/p 1.5945
closed manual at 1.5955

8+ pips
  • #189,176
  • Dec 23, 2009 1:17pm Dec 23, 2009 1:17pm
DX at bottom of channel.. RSI very low..

http://i47.tinypic.com/b64hf4.gif
  • #189,177
  • Dec 23, 2009 1:20pm Dec 23, 2009 1:20pm
Quoting dynamicsoul
DX at bottom of channel.. RSI very low..

http://i47.tinypic.com/b64hf4.gif
so tell what thats means
  • #189,178
  • Dec 23, 2009 1:22pm Dec 23, 2009 1:22pm
errr.. that the dollar index might bounce.. and cable could drop further??
  • #189,179
  • Dec 23, 2009 1:26pm Dec 23, 2009 1:26pm
The close of this daily candle is very important, we need a close at 1.593 or lower for this to go bearish, if it closes above 1.593 might is a bullish signal. Euro is safe for uptrend tomorrow as it will close above 1.428 for sure unless something "special" happens...
"Hate the sin, love the sinner." - Gandhi
  • #189,180
  • Dec 23, 2009 1:39pm Dec 23, 2009 1:39pm
My information is probably not as good as anyone elses but it looks like its locking down pretty nice. Btw the white line is the 300 moving average exponential
Attached Image (click to enlarge)
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