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Cable Update (GBPUSD)

  • #190,341
  • Dec 31, 2009 8:12am Dec 31, 2009 8:12am
Quoting Baby-Trader
My Numbers says that we may see a support @1.6170 the previous resistance turned support and also which is the 38.2% fibo level of the 1.6725 to 1.5831.

so if we break the point @1.6170, My system tells me that next barrier will be @1.6040 which is the 23.6% fibo level.

Daily R2 @1.6263 & daily R3 is @ 1.6433 which I don't think we will reach it today.

Take care. I'm out of trading today.
This appears to be accurate for the longer term charts, from what I can see at a quick glance. I will know more when I update my fibs Sunday for the next month/week/day.
  • #190,342
  • Dec 31, 2009 8:13am Dec 31, 2009 8:13am
Quoting hnosair
any reaction to the unemployment claims ?
are you Hany Nosair?
  • #190,343
  • Dec 31, 2009 8:15am Dec 31, 2009 8:15am
Quoting Ctic
As you can see from the attached chart, it is setting up to make a real big move. Attached is the 4 Hr chart using the weekly fibs. As you can see, it went from the 138.2 on the downside to the 138.2 on the up side.
.
I think we have the same view.
  • #190,344
  • Dec 31, 2009 8:22am Dec 31, 2009 8:22am
Happy New year to all traders...... may 2010 brings $$$$$$$$$ to us....
  • #190,345
  • Dec 31, 2009 8:35am Dec 31, 2009 8:35am
Hi guys,

I want to open 1 position and will be hold 1 year (until end of 2010)..Please give suggestion, BUY or SELL ?
Patience + Discipline =
  • #190,346
  • Dec 31, 2009 8:37am Dec 31, 2009 8:37am
Quoting Jemmy
Hi guys,

I want to open 1 position and will be hold 1 year (until end of 2010)..Please give suggestion, BUY or SELL ?
Real account or demo account?
  • #190,347
  • Dec 31, 2009 8:39am Dec 31, 2009 8:39am
Quoting Ctic
Real account or demo account?
real micro account..
Patience + Discipline =
  • #190,348
  • Dec 31, 2009 8:40am Dec 31, 2009 8:40am
Quoting Jemmy
real micro account..

sell .....600 pip risk to 4000 pip reward
Blogging daily now at www.volume.zone
  • #190,349
  • Dec 31, 2009 8:43am Dec 31, 2009 8:43am
Quoting malcolmb14
sell .....600 pip risk to 4000 pip reward

we have a rounded top formation same as 2007 top min target 1.35000

Attached Image (click to enlarge)
Click to Enlarge Name: chart1541.png Size: 157 KB
Blogging daily now at www.volume.zone
  • #190,350
  • Dec 31, 2009 8:44am Dec 31, 2009 8:44am
Quoting Jemmy
Hi guys,

I want to open 1 position and will be hold 1 year (until end of 2010)..Please give suggestion, BUY or SELL ?

u have to be kidding or u gonna do the opposite to what people suggest..i would go with the opposite personally..

however id rather buy instead of sell..
  • #190,351
  • Dec 31, 2009 8:44am Dec 31, 2009 8:44am
some action takin place

plz plz plz plz tell me dollor will hit the skie n others will tank in atlantic. plz plz plz or may be pacific i dunt care as long as they drown
  • #190,352
  • Dec 31, 2009 8:46am Dec 31, 2009 8:46am
Quoting malcolmb14
sell .....600 pip risk to 4000 pip reward
. I only need to tell you something.
one day when I sleeping I saw a dream. a very painful dream.
I entered Long @---- can't remeber. and the price went down like a rocket to 1.41 and my account has been blowed.

believe me I saw that dream.
  • #190,353
  • Dec 31, 2009 8:48am Dec 31, 2009 8:48am
Quoting malcolmb14
we have a rounded top formation same as 2007 top min target 1.35000

Attachment
malcolm what is your opimion in cable now will get up or down??
  • #190,354
  • Dec 31, 2009 8:49am Dec 31, 2009 8:49am
Quoting Baby-Trader
My Numbers says that we may see a support @1.6170 the previous resistance turned support and also which is the 38.2% fibo level of the 1.6725 to 1.5831.

so if we break the point @1.6170, My system tells me that next barrier will be @1.6040 which is the 23.6% fibo level.

Daily R2 @1.6263 & daily R3 is @ 1.6433 which I don't think we will reach it today.

Take care. I'm out of trading today.

Now we @ 1.6170. let's see what will happen?
  • #190,355
  • Dec 31, 2009 8:56am Dec 31, 2009 8:56am
BT

ur 1.670 support is holding real well.
  • #190,356
  • Dec 31, 2009 8:57am Dec 31, 2009 8:57am
Quoting Baby-Trader
. I only need to tell you something.
one day when I sleeping I saw a dream. a very painful dream.
I entered Long @---- can't remeber. and the price went down like a rocket to 1.41 and my account has been blowed.

believe me I saw that dream.
lol... you did say you are a new trader......

the weekly / monthly is toppy. In fact weekly has a h and shoulders

daily on 2nd half of that h and s is an inverted cup and handle.

The 400 pip rise in last 48 hours somewhat confirms a possible tankage coming. This sound insane , but what better way to sell hard at ' discount' than manipulate price up then in low volume. In fact most pros stopped buying at 1,61000. ( i see this from volumes in the charts)

1.6288 is the are of confluence for handle to end on cup and handle formation on daily if it is valid

based on daily , weekly and montly there is no real reason to be LONG term bullish on this right now

If given a choice i would sell with expectations 1.3500 by end 2010

Attached Image (click to enlarge)
Click to Enlarge Name: chart1542.png Size: 173 KB


Attached Image (click to enlarge)
Click to Enlarge Name: chart1543.png Size: 237 KB
Blogging daily now at www.volume.zone
  • #190,357
  • Dec 31, 2009 9:03am Dec 31, 2009 9:03am
Quoting malcolmb14
sell .....600 pip risk to 4000 pip reward
31Dec09..

Open sell @1.6175 ; No SL ; TP=open..
Patience + Discipline =
  • #190,358
  • Dec 31, 2009 9:03am Dec 31, 2009 9:03am
Quoting egymedo
malcolm what is your opimion in cable now will get up or down??

I am a 90% day trader

today due to reversal candles at 1.6220 i sold 1.6215 , I have just closed on vwap at 1.6170

however on the longer term we will have to wait for next week , but i believe this 400 pip up move to be complete bs manipulation

did dx tank ? uk raise rates ? stop qe ? gold move $50 up ..... all the responses to this is NO. 400 pip moves in low volume conditions are positioning for next week. Think pros loving buying high for higher moves or selling high for massive down moves ?

here is 4 hour chart ... only cleaning ladies have been pressing buy buttons while dusting overnight.

Attached Image (click to enlarge)
Click to Enlarge Name: chart1544.png Size: 223 KB
Blogging daily now at www.volume.zone
  • #190,359
  • Dec 31, 2009 9:05am Dec 31, 2009 9:05am
Quoting Jemmy
31Dec09..

Open sell @1.6175 ; No SL ; TP=open..
damn .....ok if tp is hit you send me bottle of champagne ....

if you get stopped out My name IS DR Geppygenius and i live in Germany
Blogging daily now at www.volume.zone
  • #190,360
  • Dec 31, 2009 9:09am Dec 31, 2009 9:09am
sorry malcom for asking this.

if you think it will tank down then y did u close ur poition sir. out of curisoity where do u see euro , cable and gold by close tonite. also wen london shuts do u see more down side or upside.
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