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Cable Update (GBPUSD)

  • #189,261
  • Dec 24, 2009 2:57am Dec 24, 2009 2:57am
Quoting malcolmb14
7 hours to rise 40 pip

30 min to drop 50 pip

would you rahter be buying dips or selling rallies ? . I am not trading till next week other than a 2week euro sell i have ....

But for me i would rather be selling all rallies ....

There was bit of volume of the upper value area yesterday 1.5964 , but once under this liekly gu will etst channel bottom

as mentioned earlier gu is channel play 6020 to 5920



Attachment
hi! Thanks for question. H1- sell to 1.59910 after buy h4 to 1.60559
  • #189,262
  • Dec 24, 2009 2:57am Dec 24, 2009 2:57am
Ok, here's why yesterday I said GBPUSD and AUDUSD will rise, EURUSD aswell and as predicted they're all rising today.

I'm posting only GU chart, you can see all daily down candles closed in the same channell, however yesterday's candle failed to make a low and closed right in the middle channell, a 1.60 above close on today's candle GU will go up.

Euro already set up, AudUSD set up aswell, GU: today we'll see. It could close in the same channell as yesterday's candle and that would be a 50% chance of up or down.

Edit: I am the only one seeing the very big volume in the 15m candle? It's retracing from the trendline.
Attached Image (click to enlarge)
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"Hate the sin, love the sinner." - Gandhi
  • #189,263
  • Dec 24, 2009 3:04am Dec 24, 2009 3:04am
Quoting TheGabriel
Ok, here's why yesterday I said GBPUSD and AUDUSD will rise, EURUSD aswell and as predicted they're all rising today.

I'm posting only GU chart, you can see all daily down candles closed in the same channell, however yesterday's candle failed to make a low and closed right in the middle channell, a 1.60 above close on today's candle GU will go up.

Euro already set up, AudUSD set up aswell, GU: today we'll see. It could close in the same channell as yesterday's candle and that would be a 50% chance of up or down.
[b]
Edit: I am the only one...
why turn? just because volume dires up during holidays? many institutions and funds have already stepped aside so it's an easy explanantion. every year the same. we might face a slight drive up on no participants which means the sell orders hitting markets when liquidity is back have a bigger impact.
  • #189,264
  • Dec 24, 2009 3:04am Dec 24, 2009 3:04am
Quoting atheer1
Hello,

I am short at 1.6006 SL 1.6036 TP open.

atheer1
I am waiting for an hourly close below 1.5972 and every thing will be ok.

atheer1
atheer1
  • #189,265
  • Dec 24, 2009 3:07am Dec 24, 2009 3:07am
Well, I am expecting to see a few hours of consolidation around the red oval. so my trade is safe, and its time for some sleep.

Shawn
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  • #189,266
  • Dec 24, 2009 3:08am Dec 24, 2009 3:08am
Quoting Dr.Geppynius
why turn? just because volume dires up during holidays? many institutions and funds have already stepped aside so it's an easy explanantion. every year the same. we might face a slight drive up on no participants which means the sell orders hitting markets when liquidity is back have a bigger impact.
I was more about the candle close than volume going down, but speaking of volume usually the green candle (wich is not low) on daily chart most of the time predicts a turn in the trend and candle close is what made me think it was up.
"Hate the sin, love the sinner." - Gandhi
  • #189,267
  • Dec 24, 2009 3:08am Dec 24, 2009 3:08am
Quoting Dr.Geppynius
i already asked you yesterday, which broker you use since it seems that you are having a negative spread...meaning, you claim to have gotten filled at prices where you absolutely could not have hit the bid or slept with the ask.

see the screenshot- 5966 was the low of the esignal feed which represents over 200 interbanks, so, it is impossible for you to get filled at that price at any of the retail bucketshops. assuming you have a 3p spread at gu your absolutely best fill would have been 5969. so why do you always use the absolute low to post your...
yes, in my chart lowest possible to buy 5970
Patience + Discipline =
  • #189,268
  • Dec 24, 2009 3:11am Dec 24, 2009 3:11am
G

look at reaction ... effort to rise after that volume and then got sold again on 5 min we had high vol again 1.5970 ... that is where buyers are sitting

Quoting TheGabriel
Ok, here's why yesterday I said GBPUSD and AUDUSD will rise, EURUSD aswell and as predicted they're all rising today.

I'm posting only GU chart, you can see all daily down candles closed in the same channell, however yesterday's candle failed to make a low and closed right in the middle channell, a 1.60 above close on today's candle GU will go up.

Euro already set up, AudUSD set up aswell, GU: today we'll see. It could close in the same channell as yesterday's candle and that would be a 50% chance of up or down.
[b]
Edit: I am the only one...
Blogging daily now at www.volume.zone
  • #189,269
  • Dec 24, 2009 3:12am Dec 24, 2009 3:12am
Volume (green candles) on daily for me you can see most of the time predicts the starting of a new trend, this and the no-new-low plus the candle close looked bullish yesterday.
Attached Image (click to enlarge)
Click to Enlarge Name: daily.jpg Size: 336 KB
"Hate the sin, love the sinner." - Gandhi
  • #189,270
  • Dec 24, 2009 3:16am Dec 24, 2009 3:16am
Quoting TheGabriel
Volume (green candles) on daily for me you can see most of the time predicts the starting of a new trend, this and the no-new-low plus the candle close looked bullish yesterday.
that's all about volume?
  • #189,271
  • Dec 24, 2009 3:19am Dec 24, 2009 3:19am
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!

Good Morning,

as anticipated, the bearish momentum has been fading fast since at least yesterday.
Cable is being bought slowly but steadily
It traded up to a high of 1.6012

On Daily there is a potential Morning Star forming which if in place could indicate that the break below 1.6090 was nothing more than a bear trap.

I Will Continue To Carry My Long Position Set Yesterday @ 1.5955


Merry Christmas!
Attached Image
Hear the music before the song is over ...
  • #189,272
  • Dec 24, 2009 3:19am Dec 24, 2009 3:19am
Other indicators of USD's weakness.

Yestarday, EURUSD closed candle up from the downtrend channell.
USDCHF found resistance and broken the up channell.
USDCAD falling for long time and right now breaking supports with probably close under yesterday's close.
Attached Image(s) (click to enlarge)
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"Hate the sin, love the sinner." - Gandhi
  • #189,273
  • Dec 24, 2009 3:20am Dec 24, 2009 3:20am
Quoting GlobalMacro
Good Morning,

as anticipated, the bearish momentum has been fading fast since at least yesterday.
Cable is being bought slowly but steadily
It traded up to a high of 1.6012

On Daily there is a potential Morning Star forming which if in place could indicate that the break below 1.6090 was nothing more than a bear trap.

I Will Continue To Carry My Long Position Set Yesterday @ 1.5955


Merry Christmas!
Same boat as GM and BullBear here.
"Hate the sin, love the sinner." - Gandhi
  • #189,274
  • Dec 24, 2009 3:24am Dec 24, 2009 3:24am
I would like know what i do not
Attached Image
  • #189,275
  • Dec 24, 2009 3:37am Dec 24, 2009 3:37am
Quoting TheGabriel
Same boat as GM and BullBear here.
It all depends on what everyone's basing their decisions on. If anyone is predicting Dollar weakness based on TA in a thin market, they could get badly burned. (unless they're scalping for a few pips). When liquidity was higher before the last week or so, Dollar has been heavily bought.
  • #189,276
  • Dec 24, 2009 3:42am Dec 24, 2009 3:42am
Quoting ukdaytrader
It all depends on what everyone's basing their decisions on. If anyone is predicting Dollar weakness based on TA in a thin market, they could get badly burned. (unless they're scalping for a few pips). When liquidity was higher before the last week or so, Dollar has been heavily bought.
Ok but USDCAD has been down for days (even when dollar was bought), so that strength wasn't very big afterall, just a surprise that USA cam out with good data, but yesterday's data was worse than expected.

I think news is just a big manipulation generally, better stay with the technical analysis anyway.
Don't forget that Asians were buying euro big time even with good news for USD m8
"Hate the sin, love the sinner." - Gandhi
  • #189,277
  • Dec 24, 2009 3:45am Dec 24, 2009 3:45am
Quoting TheGabriel
Ok but USDCAD has been down for days (even when dollar was bought), so that strength wasn't very big afterall, just a surprise that USA cam out with good data, but yesterday's data was worse than expected.

I think news is just a big manipulation generally, better stay with the technical analysis anyway.
Don't forget that Asians were buying euro big time even with good news for USD m8
I completely agree, TA is the only way to go. But, the point still remains; we are in a thin market now, so any trading decisions based on candles/volumes etc will not be entirely safe.
  • #189,278
  • Dec 24, 2009 3:45am Dec 24, 2009 3:45am
Shall We Back To 1.69 !?
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* Never Trust To Any Indicator *
  • #189,279
  • Dec 24, 2009 3:47am Dec 24, 2009 3:47am
Quoting ukdaytrader
I completely agree, TA is the only way to go. But, the point still remains; we are in a thin market now, so any trading decisions based on candles/volumes etc will not be entirely safe.
Yes you're right, weak signals but daily looks good for me. 43 pips locked in on AUDUSD buy, Cable close to 1.60.
"Hate the sin, love the sinner." - Gandhi
  • #189,280
  • Dec 24, 2009 4:14am Dec 24, 2009 4:14am
Quoting Dr.Geppynius
i already asked you yesterday, which broker you use since it seems that you are having a negative spread...meaning, you claim to have gotten filled at prices where you absolutely could not have hit the bid or slept with the ask....
Not for me to but in but...

I saw both your posts Dr, and in both cases I had to smile. My broker was offering the same or better prices at the time of his posts. I think if anything you should question the prices YOUR broker is offering. Questioning someone elses price because your broker is cheating you is making you look a little silly.
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