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Cable Update (GBPUSD)

  • #191,041
  • Jan 6, 2010 10:17am Jan 6, 2010 10:17am
And i'm scared of the EURUSD , resistance is around 1.4405-10...i hope it won't go down and drag GBPUSD with it
COT: The precious data ignored
  • #191,042
  • Jan 6, 2010 10:18am Jan 6, 2010 10:18am
Quoting kuroro001
I deserve a beatdown for not following my trading plan!!
Almost 90 pips away from my entry :s

it should reach 1.6040 soon...then i'll wait a little pullback to enter and reach a 1.6150
hope it'll goes that way
GL to all
so, the pair is bullish now on the account of the news ?
  • #191,043
  • Jan 6, 2010 10:25am Jan 6, 2010 10:25am
Hi

It seems quite a few people here who r bullish but what TF are u using?

On the weekly it seems like sideways movement with downward bias. I dont know if this is correct or not but this is what I see. Would some expert please clear up the weekly picture?
  • #191,044
  • Jan 6, 2010 10:26am Jan 6, 2010 10:26am
Quoting hnosair
so, the pair is bullish now on the account of the news ?
The pair is bullish/bearish depending on the TF you use
But a lot of traders see the GBP pair going high!!
COT: The precious data ignored
  • #191,045
  • Jan 6, 2010 10:28am Jan 6, 2010 10:28am
Quoting neo1599
Hi

It seems quite a few people here who r bullish but what TF are u using?

On the weekly it seems like sideways movement with downward bias. I dont know if this is correct or not but this is what I see. Would some expert please clear up the weekly picture?
I agree with you the long term bias seems to be short. But I think most people who are bullish are trading smaller time frames. Like the 5min chart had a good setup after news for bullish trade. Missed it though
Attached Image (click to enlarge)
Click to Enlarge Name: 5mgu.gif Size: 32 KB
  • #191,046
  • Jan 6, 2010 10:30am Jan 6, 2010 10:30am
Quoting kuroro001
Ah very nice !!
My first target is 1.6040...but i'm seeing big resistance around 1.6090 so we need to check PA here
A pullback might either around 1.6040-50 or 1.6090...then i hope i'll will clear the 1.61 resistance to go toward 1.6150 and above
But it's only suggestion, it might go totally differently so take care
Thx, managed to get out @1.6037 and made $2307. never had this kind of profit before. Thx to you and all the guys here

sorry to ask , where the pullback goes ? 6020 ?
Guide me please
  • #191,047
  • Jan 6, 2010 10:31am Jan 6, 2010 10:31am
+73 pips +1.8% for today up and down
  • #191,048
  • Jan 6, 2010 10:39am Jan 6, 2010 10:39am
This 4h candle may be very important its broken a trendline currently if it closes below the trendline resistance then We should see the 23.6 Fib level broken.

I cant seem to get the chart pic here.
  • #191,049
  • Jan 6, 2010 10:39am Jan 6, 2010 10:39am
Crude oil is crazy right now!
  • #191,050
  • Jan 6, 2010 10:41am Jan 6, 2010 10:41am
Quoting adie1976
Thx, managed to get out @1.6037 and made $2307. never had this kind of profit before. Thx to you and all the guys here

sorry to ask , where the pullback goes ? 6020 ?

Congrats
Now try to keep it that money with a proper MM and you'll earn even more!
If the price goes toward 1.6005-1.6010 i'll give a try with a long....otherwise i'll wait until i see a good entry point

Good luck !
COT: The precious data ignored
  • #191,051
  • Jan 6, 2010 10:44am Jan 6, 2010 10:44am
OK, here's a compression pattern forming on the 5m.
Look how 6 of the 9 EMAs are tightly packed.

I'm counting on this dropping back down through the bunch
with vigor.

If it doesn't I get stopped out 10 pips above the top, or
below now with my trailing stop.

Dr. D.
Attached Image
  • #191,052
  • Jan 6, 2010 11:03am Jan 6, 2010 11:03am
Quoting fourxtrader
OK, here's a compression pattern forming on the 5m.
Look how 6 of the 9 EMAs are tightly packed.

I'm counting on this dropping back down through the bunch
with vigor.

If it doesn't I get stopped out 10 pips above the top, or
below now with my trailing stop.

Dr. D.
FT I think your compression is showing the faster averages about to turn to the upside which is strength to go north. They lag of course as you know. The compression is merely the crossing over of the averages I feel. Showing a short term change in trend.
  • #191,053
  • Jan 6, 2010 11:16am Jan 6, 2010 11:16am
Long @ 1.6005...and again when it'll reach 1.5989
Stop at the low...target @ 1.6090 and 1.6150

See you at the top ....or the bottom!!!
COT: The precious data ignored
  • #191,054
  • Jan 6, 2010 11:17am Jan 6, 2010 11:17am
Quoting kuroro001
Congrats
Now try to keep it that money with a proper MM and you'll earn even more!
If the price goes toward 1.6005-1.6010 i'll give a try with a long....otherwise i'll wait until i see a good entry point

Good luck !
what is your s/l bro
  • #191,055
  • Jan 6, 2010 11:19am Jan 6, 2010 11:19am
Quoting kuroro001
The pair is bullish/bearish depending on the TF you use
But a lot of traders see the GBP pair going high!!
I believe it is overall bearish based on the higher TFs. The higher the TF the stronger the trend
  • #191,056
  • Jan 6, 2010 11:22am Jan 6, 2010 11:22am
Quoting fourxtrader
OK, here's a compression pattern forming on the 5m.
Look how 6 of the 9 EMAs are tightly packed.

I'm counting on this dropping back down through the bunch
with vigor.

If it doesn't I get stopped out 10 pips above the top, or
below now with my trailing stop.

Dr. D.
Down it goes Dr. D Drop it like its hot!
  • #191,057
  • Jan 6, 2010 11:25am Jan 6, 2010 11:25am
Quoting slick 60
FT I think your compression is showing the faster averages about to turn to the upside which is strength to go north. They lag of course as you know. The compression is merely the crossing over of the averages I feel. Showing a short term change in trend.

Oh really. Look where it's trading now.

For my purposes, it doesn't show direction just a good timing signal and it's NOT LAGGING. Certainly the lines that form from the data that's creating the moving averages is lagging but for some reason when they pack together tightly they are predictive of nearly vertical movement that follows... up or down. You pick your direction from your other forms of analysis. Look at this 1m chart from the earlier near vertical move northward off of a very tight compression pattern.

Of course it could now turn back up to follow another compression forming on another TF or even on this 1m chart which is converging as we speak.

Dr. D.
Attached Image
  • #191,058
  • Jan 6, 2010 11:26am Jan 6, 2010 11:26am
Quoting piyeree
I believe it is overall bearish based on the higher TFs. The higher the TF the stronger the trend
Yeh it's true...but the trend reversal will appear on lower TF first
It all depend on your trading style
COT: The precious data ignored
  • #191,059
  • Jan 6, 2010 11:28am Jan 6, 2010 11:28am
Quoting MHuzaifa
what is your s/l bro
I'll put my stop on the today's low....and aim at 1.6090 and 1.6150
i'll see how my trade went tomorrow !!

Cya and safe trade!
COT: The precious data ignored
  • #191,060
  • Jan 6, 2010 11:29am Jan 6, 2010 11:29am
i really hate such moves
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