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Cable Update (GBPUSD)

  • #190,681
  • Jan 5, 2010 1:47am Jan 5, 2010 1:47am
I think 1.6070 area will provide some brief support. Action was certainly held up there yesterday.
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  • #190,682
  • Jan 5, 2010 1:48am Jan 5, 2010 1:48am
Quoting Magix
Here are the support ranges I am watching on for long side chart.
Like clockwork, always reverses at that point...
  • #190,683
  • Jan 5, 2010 1:49am Jan 5, 2010 1:49am
let's brake that 1.6100 mark !
Twitter: @forexpokerpro
  • #190,684
  • Jan 5, 2010 1:58am Jan 5, 2010 1:58am
Quoting Ctic
On the 15M chart it is approching the 138.2 fib which are the 4H fibs. Thus since the candle just started it would be at least 1 to 2 hours of pure down movement.

That is how I intepret it anyways. I will plan on entering short once it hits that area.

Don't say I didn't tell you where the turnaround spot was. I hope everyone hopped in on it for some quick (a lot of pips).
  • #190,685
  • Jan 5, 2010 2:03am Jan 5, 2010 2:03am
A 15m chart in compression will release
considerable energy for a good move.

I'm still in since 1.6130. Closed 1/2 at 1.6102.

Dr. D.
Attached Image
  • #190,686
  • Jan 5, 2010 2:06am Jan 5, 2010 2:06am
down down baby
Twitter: @forexpokerpro
  • #190,687
  • Jan 5, 2010 2:08am Jan 5, 2010 2:08am
Quoting Ctic
Don't say I didn't tell you where the turnaround spot was. I hope everyone hopped in on it for some quick (a lot of pips).
Hi Ctic,

Any chance that you can explain with more detail your strategy using fibo? I've looking at the charts and explanations in your posts but having been able to figure it out yet.
Thanks.
  • #190,688
  • Jan 5, 2010 2:08am Jan 5, 2010 2:08am
Quoting fourxtrader
A 15m chart in compression will release
considerable energy for a good move.

I'm still in since 1.6130. Closed 1/2 at 1.6102.

Dr. D.
Good job Dr. D. This is an area of caution. We are in the master candle for the 4H chart at the 100 fib for the 4H candle. We are at the 138.2 for the 1H candle. May break, may bounce back up. Time will tell.
  • #190,689
  • Jan 5, 2010 2:10am Jan 5, 2010 2:10am
Closed my short, late entry so just manages 20pips, but happy enough. Thanks a lot.

If it breaks 1.6069, I will go short at 1.6060.
  • #190,690
  • Jan 5, 2010 2:10am Jan 5, 2010 2:10am
Quoting Ctic
Good job Dr. D. This is an area of caution. We are in the master candle for the 4H chart at the 100 fib for the 4H candle. We are at the 138.2 for the 1H candle. May break, may bounce back up. Time will tell.

Keeping a tight trailing stop.
So tight, Jack Benny would be proud.

Dr. D.
  • #190,691
  • Jan 5, 2010 2:11am Jan 5, 2010 2:11am
Quoting fourxtrader
Keeping a tight trailing stop.
So tight, Jack Benny would be proud.

Dr. D.
Who is jack benny
  • #190,692
  • Jan 5, 2010 2:15am Jan 5, 2010 2:15am
Quoting dil
Who is jack benny
Bob Hope's penny pinching buddy.

Sorry... I'm showing my age.

Dr. D.
  • #190,693
  • Jan 5, 2010 2:16am Jan 5, 2010 2:16am
Seems like it might go back up, it is sitting right on the bottom trendline for the week....
  • #190,694
  • Jan 5, 2010 2:19am Jan 5, 2010 2:19am
Morning Dil...

For that you'd have to ask oHHH "RO-CHESTER"...!
I will work to Objectively Identify my Edges
  • #190,695
  • Jan 5, 2010 2:20am Jan 5, 2010 2:20am
those of you looking to go long, be careful. japanese candle stick analysis is say different
SCARED MONEY NEVER DOES GOOD IN FOREX
  • #190,696
  • Jan 5, 2010 2:22am Jan 5, 2010 2:22am
This compression move must have more
energy in it than this... all the EMA's (9)
are within 5 pips.

Dr. D.
Attached Image
  • #190,697
  • Jan 5, 2010 2:25am Jan 5, 2010 2:25am
Quoting fourxtrader
This compression move must have more
energy in it than this... all the EMA's (9)
are within 5 pips.

Dr. D.
Like I said, 2 hours of pure down. maybe 3 that would probably spread them.
  • #190,698
  • Jan 5, 2010 2:25am Jan 5, 2010 2:25am
Quoting fourxtrader
This compression move must have more
energy in it than this... all the EMA's (9)
are within 5 pips.

Dr. D.
I think it is showing you that power now
  • #190,699
  • Jan 5, 2010 2:26am Jan 5, 2010 2:26am
Quoting fourxtrader
This compression move must have more
energy in it than this... all the EMA's (9)
are within 5 pips.

Dr. D.

BINGO!

Night All.

Dr. D.
Attached Image
  • #190,700
  • Jan 5, 2010 2:26am Jan 5, 2010 2:26am
Went short at 1.6076... tp of 1.6046 reached!..

Woo hoo!
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