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Cable Update (GBPUSD)

  • #192,341
  • Jan 12, 2010 9:57am Jan 12, 2010 9:57am
Quoting kuroro001
I'll wait 1.6230 before shorting it....the upmove seems strong
Yeah mate, you're right in regards to the uptrend being strong... just showed signs of weakening now but still early stages..

Cheers,
R
  • #192,342
  • Jan 12, 2010 10:12am Jan 12, 2010 10:12am
200 ema showing good, strong rejection...shorting at 6174
  • #192,343
  • Jan 12, 2010 10:13am Jan 12, 2010 10:13am
Quoting fourxtrader
Here's the 3rd try. (200EMA aqua)

Dr. D.
Agreed...daily is about same line, 200ema on daily chart.

Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #192,344
  • Jan 12, 2010 10:19am Jan 12, 2010 10:19am
Like on chart posted last night....because we didn't lose support on the daily chart...(green line, 24SMA), price held and went back to daily resistance...(red line, 200ema).

Stuck playing daily SR...

A break for true direction is needed IMO, anything from here is a coin toss from my charts.

http://www.forexfactory.com/showpost...stcount=192210
Attached Image (click to enlarge)
Click to Enlarge Name: srd.GIF Size: 33 KB
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #192,345
  • Jan 12, 2010 10:38am Jan 12, 2010 10:38am
adding another short at 6173...
  • #192,346
  • Jan 12, 2010 10:42am Jan 12, 2010 10:42am
short at 1.6186


KABOMMMMM
  • #192,347
  • Jan 12, 2010 10:45am Jan 12, 2010 10:45am
Gu on a 4H chart made a cup and a handle, if the handle got broken, we might be going down from here
  • #192,348
  • Jan 12, 2010 10:50am Jan 12, 2010 10:50am
Just make sure you have enough slack to carry it if/when they make a run at that weekend-split, double top, at 6240...GL

Quoting joemiami
adding another short at 6173...
Ah Luv the smell of a good prediction in the mornin!
  • #192,349
  • Jan 12, 2010 10:53am Jan 12, 2010 10:53am
Hello everyone,

is it just me or has Sunday's gap not been filled yet?!

Thx
The Sky is the Limit!
  • #192,350
  • Jan 12, 2010 10:53am Jan 12, 2010 10:53am
Quoting ahlamo
Hello everyone,

is it just me or has Sunday's gap not been filled yet?!

Thx
Correct.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #192,351
  • Jan 12, 2010 10:56am Jan 12, 2010 10:56am
Quoting Artcritique
Just make sure you have enough slack to carry it if/when they make a run at that weekend-split, double top, at 6240...GL
yeah, I will watch out for that...thnx
  • #192,352
  • Jan 12, 2010 10:59am Jan 12, 2010 10:59am
Quoting Magix
Correct.
16 Jan 09, does it looks similar with the current H4?
Attached Image (click to enlarge)
Click to Enlarge Name: gu-14jan.gif Size: 27 KB
  • #192,353
  • Jan 12, 2010 11:02am Jan 12, 2010 11:02am
pic #1 PA is all over the place during consolidation (2/08 - 8/08)

pic #2 And should the MMA's compress tightly together (8/08)

pic #3 Massive pip movement will follow (8/08 - 1/09) 6,000+ pips

pic #4 It could take days / weeks for this to further form on this current daily.

Watch and see.

Dr. D.
Attached Images
  • #192,354
  • Jan 12, 2010 11:02am Jan 12, 2010 11:02am
Quoting kilalik
the trade balance numbers were better than forecasted, thats where gbp found it's bullish move up. SO gotta wait for the peak of it in European session on G/U possibly the mondas high of 6188 would be very nice place to short, unless it pushes higher
For the rest of the day, I think 1.6183 is good place to short....what do you think

Because the Dow is loosing steam, and Dollar might get re-ignited later on today..
  • #192,355
  • Jan 12, 2010 11:06am Jan 12, 2010 11:06am
Quoting jeremykhc
16 Jan 09, does it looks similar with the current H4?
Really nice observation.

Personally, I see this as being a bull trap....

But, because of my play style, I have to assume the current trend, which is still to topside.

Because of the iffy market as of current..I am only playing single lots and scalping on the 1m.

Not been a great week for play so far, not for me anyways.

Possible bull flag formation on the 5 and 15m chart...cannot ignore the immediate.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #192,356
  • Jan 12, 2010 11:13am Jan 12, 2010 11:13am
Hey Everyone,
Happy New Year!

Great Charts Dr D. thanks for posting.

I have been refining my style while studying (stopped trading a bit at years end) to do so. So far things are going well this year.
Most importantly sticking to my rules. Setting targets, making pips,
exit. Repeat.

Trick is not giving any pips back.

Cable seems to be itching to break resistance @ 6195 area. I am expecting some pullback before the breach. Time will tell now.


Good luck to all!
X-
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #192,357
  • Jan 12, 2010 11:21am Jan 12, 2010 11:21am
Quoting jeremykhc
16 Jan 09, does it looks similar with the current H4?
NO
  • #192,358
  • Jan 12, 2010 11:24am Jan 12, 2010 11:24am
I've got an exceptionally large spacing between the 100 adn 200 SMA. When this happens I look for a pullback or against the trend change, as I see it needs to pull back a bit to gain more strength by bringing those 2 SMa's closer together. Or it could just consolidate here and they will tighten up that way as well.

Enjoy

Attached Image (click to enlarge)
Click to Enlarge Name: gu.gif Size: 32 KB
"Keep your eyes on the helpers" - Mr. Rogers
  • #192,359
  • Jan 12, 2010 11:24am Jan 12, 2010 11:24am
http://www.forexfactory.com/showthre...59#post3355859
15m and 1h say still more room to go up
4h - daily strong R
I prefer to wait to add sell maybe tomorrow between 1.6240 or 1.6350
  • #192,360
  • Jan 12, 2010 11:37am Jan 12, 2010 11:37am
why not hit and run scalping in 5 m n 1m
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