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Cable Update (GBPUSD)

  • #192,141
  • Jan 11, 2010 1:01pm Jan 11, 2010 1:01pm
Quoting Jassim
if the prices dont go up, Gu daily candle might end up making a perfect inverted hammer...which means , 200 -300 pips down, easily
I disagree not in a short run. There is not enough momentum for such large move.

Someone said this before me, if today closes lower on daily chart then we have smooth sailing until Jan 11th on a bearish trend.

If anyone one disagrees please voice your opinion, because i need critics, so i can see it from all angels that I know I am missing

THank you
  • #192,142
  • Jan 11, 2010 1:04pm Jan 11, 2010 1:04pm
Quoting Jassim
Yes it might do a range re-bound, if it breaks out of this range, then its going south...Therefore,,,, Deal or No Deal ?

I would say so NO DEAL...I am staying put on my SHORT... There is no way Dollar is going to head back south....we are in for a solid downturn on Gu Based on my MASS PSYCHOLOGY Forecast
A trader must do what a trader must do.
Without professional activity in this market right now it is up to everyone in this forum to BUY to make this thing go up to finish the move. lol
Perhaps we will see another low volume rise into the European / London open to finsih the high and then tomorrow will be a weak corrective down day retracing a fibo of the total move up from 5895. It should be a good short if we take out the 6240 high mentioned earlier.

Jassim - where did you get your degree?

I say "No Deal" we are going higher.
  • #192,143
  • Jan 11, 2010 1:05pm Jan 11, 2010 1:05pm
Quoting kilalik
I disagree not in a short run. There is not enough momentum for such large move.

Someone said this before me, if today closes lower on daily chart then we have smooth sailing until Jan 11th on a bearish trend.

If anyone one disagrees please voice your opinion, because i need critics, so i can see it from all angels that I know I am missing

THank you
It depends what you mean by perfect sailing, what are you trying to say exactly, that Gu will not go down 200 - 330 pips in the short run....what is a short run for you/ how long is it ?
  • #192,144
  • Edited 1:20pm Jan 11, 2010 1:07pm | Edited 1:20pm
Quoting slick 60
A trader must do what a trader must do.
Without professional activity in this market right now it is up to everyone in this forum to BUY to make this thing go up to finish the move. lol
Perhaps we will see another low volume rise into the European / London open to finsih the high and then tomorrow will be a weak corrective down day retracing a fibo of the total move up from 5895. It should be a good short if we take out the 6240 high mentioned earlier.

Jassim - where did you get your degree?

I say "No Deal" we are going higher.
Deal or No Deal, I meant from my perspective, shall I break my short position (So Deal is I will sell and keep the profit, and no Deal is I remain short). so, from your perspective, there is no Deal, therefore, you are long...

By the way I am an Econometrician, Degree from Virginia, US

The Mass Psychology Forecast is a short term forecast, that requires to be remained in a position for about 1-2 weeks..The indication is down turn based on past 80 years behavioral pattern...All I need is now a Candle Stick Pattern to give me a confirmation. If todays Daily Candle Stick closes lower, then I will watch tomorrow's momentum, then I will decide to go in Short for a weeek
  • #192,145
  • Jan 11, 2010 1:10pm Jan 11, 2010 1:10pm
Quoting Leche Mocha
Those are alot of MA's. Which ones are you using?

For my purposes, None (individually).... All (collectively)!

It's the pattern that forms as they gather, converge and
compress that is used as a timing signal of impending,
imminent and explosive movement. This earlier 1m charts
didn't have all of the EMA's quite together for the maximum
effect but it still moved 30+ pips down. Also the amount of
movement is relative to the TF. So a 1m doesn't always yield
huge numbers unless other stars are in alignment.

I never know the next direction at the point of compression
and moment of release from these charts alone. Other charting
is needed. The benefit is, you have more reason to consider a
trade because it signals clearer than a naked chart a consolidation
is concluding and there will always be larger pip movement to follow,
(relative to the TF).

Dr. D.
Attached Image
  • #192,146
  • Jan 11, 2010 1:13pm Jan 11, 2010 1:13pm
Price has once again impacted 1.6165 and looks like it has encountered selling pressure. We will check back after the US session to see if resistance @ 1.6165 can hold.
Attached Image (click to enlarge)
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  • #192,147
  • Jan 11, 2010 1:15pm Jan 11, 2010 1:15pm
Quoting Jassim
It depends what you mean by perfect sailing, what are you trying to say exactly, that Gu will not go down 200 - 330 pips in the short run....what is a short run for you/ how long is it ?

.5 day -1.5 days at most. and what is the reason for GU to go down 200-330 pips? pipdreamin

watch for a rebound of GU to 6120-30+
  • #192,148
  • Jan 11, 2010 1:28pm Jan 11, 2010 1:28pm
Quoting kilalik
.5 day -1.5 days at most. and what is the reason for GU to go down 200-330 pips? pipdreamin

watch for a rebound of GU to 6120-30+
For me a short run is 2-3 weeks..... How can the Gu turn back up to 1.630 with an inverted daily closing hammer today? Unless a big manipulation happens that will raise the bar to reject the signal in order to revert back up to North...It will all depends on candle stick closing of today

On EMA 20, the daily made an inverted hammer, this is not a good start to move up, especially, the EMA 20 is in a downtrend with a previous Harmonic Diamond formation which it was supposed to sink Gu further down, today's price hike is because of false chinese GDP news, this todays move I consider it a false move, and better wait till tomorrow for a confirmation

I made my 65+ pips and I am gonna sleep and dream of my sweet pip counting..
  • #192,149
  • Jan 11, 2010 1:35pm Jan 11, 2010 1:35pm
Quoting Jassim
For me a short run is 2-3 weeks..... How can the Gu turn back up to 1.630 with an inverted daily closing hammer today? Unless a big manipulation happens that will raise the bar to reject the signal in order to revert back up to North...It will all depends on candle stick closing of today
sorry i mean 6120-6130 area

anyways GU is getting tighter, if it's not gonna break through 6095 level it's gonna be a sideways for few hours
  • #192,150
  • Jan 11, 2010 1:42pm Jan 11, 2010 1:42pm
Quoting Jassim
For me a short run is 2-3 weeks..... How can the Gu turn back up to 1.630 with an inverted daily closing hammer today? Unless a big manipulation happens that will raise the bar to reject the signal in order to revert back up to North...It will all depends on candle stick closing of today

On EMA 20, the daily made an inverted hammer, this is not a good start to move up, especially, the EMA 20 is in a downtrend with a previous Harmonic Diamond formation which it was supposed to sink Gu further down, today's price hike is because of false chinese...
well the move up I meant that it will rebound for 15-30 then of course remain on bearish terms overall

I agree with the China's data impact and speculating this currency would be for the best.
  • #192,151
  • Jan 11, 2010 2:00pm Jan 11, 2010 2:00pm
Hello,
Just back from work.
Update on M15 & H4
for ref:
M15 post
Quoting Baby-Trader
M15 update.
H4 Post
Quoting Baby-Trader
H4 update
chart patterns
what a lovely pattern
All as expected.
Hope things continue to play as expected.
Attached Image(s) (click to enlarge)
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  • #192,152
  • Jan 11, 2010 2:08pm Jan 11, 2010 2:08pm
Quoting Baby-Trader
Hello,
Just back from work.
Update on M15 & H4
for ref:
M15 post

H4 Post


All as expected.
Hope things continue to play as expected.

i hope so bro

ye3teek el 3afyeh ya bash
  • #192,153
  • Jan 11, 2010 2:10pm Jan 11, 2010 2:10pm
If that happen, I will..... see the image attached.
Attached Image (click to enlarge)
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  • #192,154
  • Jan 11, 2010 2:13pm Jan 11, 2010 2:13pm
Quoting kill56
i hope so bro

ye3teek el 3afyeh ya bash
Salamo 3alikom
What about you positions bro?
  • #192,155
  • Jan 11, 2010 2:18pm Jan 11, 2010 2:18pm
Quoting Baby-Trader
Salamo 3alikom
What about you positions bro?
still holding shorts bro we need to clear the 23.6% any open on h1 under it wow we will be happy bro
Attached Image (click to enlarge)
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  • #192,156
  • Jan 11, 2010 2:23pm Jan 11, 2010 2:23pm
Quoting Baby-Trader
If that happen, I will..... see the image attached.
Closed my short, +40 so far. I doubt if the downward continues, think this is a definitive moment maybe 1.6090 i'll sell again.
Good call this morning bt.
  • #192,157
  • Jan 11, 2010 2:23pm Jan 11, 2010 2:23pm
Quoting kill56
still holding shorts bro we need to clear the 23.6% any open on h1 under it wow we will be happy bro

alcoa reporting earnings after hours.....

Earnings season is here and markets could get very volatile intraday.

Just a heads up. GU came down tested 1.6100 support. Need to get a close under that for down trend , other than that we are ranging 6100 to 6200
Blogging daily now at www.volume.zone
  • #192,158
  • Jan 11, 2010 2:26pm Jan 11, 2010 2:26pm
h4 cable update
Attached Image (click to enlarge)
Click to Enlarge Name: cable h4.gif Size: 31 KB
  • #192,159
  • Jan 11, 2010 2:28pm Jan 11, 2010 2:28pm
Quoting malcolmb14
alcoa reporting earnings after hours.....

Earnings season is here and markets could get very volatile intraday.

Just a heads up. GU came down tested 1.6100 support. Need to get a close under that for down trend , other than that we are ranging 6100 to 6200
thnks bro dam i forget about it sure it will if the dow jumbs a 100pip on the news i 'll be ffff

unless we see the dow and the dollar in the same path not like befor
  • #192,160
  • Jan 11, 2010 2:38pm Jan 11, 2010 2:38pm
Quoting malcolmb14
alcoa reporting earnings after hours.....

Earnings season is here and markets could get very volatile intraday.

Just a heads up. GU came down tested 1.6100 support. Need to get a close under that for down trend , other than that we are ranging 6100 to 6200
Hi Mal, when is exactly Alcoa posting the profit news
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