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Cable Update (GBPUSD)

  • #192,561
  • Jan 13, 2010 3:51am Jan 13, 2010 3:51am
Quoting Clouds
The GBP is gonna go down. Just like all the currencies will too. USD has been bullish for a while now. The trick is finding the turning points though.
waiting for a good short entry (sell ) , i can see stoch and rsi on 30 min , 1hr & 4hrs shows over bought ... although the uptrend there is may be some correction
  • #192,562
  • Jan 13, 2010 3:52am Jan 13, 2010 3:52am
Just trade the numbers and see where she goes. I know that I can't set the price..

Quoting RChio
I think the excitement for the market in the past couple of hours driving the price up just wanted something or a reason why they should ring the price up again... actually its BS in my opinion...
Ah Luv the smell of a good prediction in the mornin!
  • #192,563
  • Jan 13, 2010 3:53am Jan 13, 2010 3:53am
wake up wake up

Attached Image
  • #192,564
  • Jan 13, 2010 3:53am Jan 13, 2010 3:53am
Quoting sibajnok
this is the 3rd touch of that price regarding h1 or h4 TF-s, let's see how market reacts here.

volatily after/around news can push it upper easily, but if we don't manage to hold above 6241, shorters can feel comfortable.
Absolutely !
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #192,565
  • Jan 13, 2010 4:01am Jan 13, 2010 4:01am
4h closed @1.6241

still short from 1.6230
  • #192,566
  • Jan 13, 2010 4:01am Jan 13, 2010 4:01am
Quoting warta
wake up wake up

Attachment
Lol... I suppose you are short warta.....

Mate this bear is not ready to wake up just yet.
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #192,567
  • Jan 13, 2010 4:04am Jan 13, 2010 4:04am
Quoting Artcritique
Just trade the numbers and see where she goes. I know that I can't set the price..
Yeah you're right dude... I did trade the numbers... just my entry is a little off lately

Did you ever notice that when you trade multiple lots your trade entry becomes a little off... maybe its just me... But this up trend really doesn't have much ground "logic" for the uptrend though the indicators did show the strength of the uptrend was strong.

Guess I'm trying to get that next step better and have a good understanding of every movement made and the reason why so.

Ideas anyone.

Cheers,
R
  • #192,568
  • Jan 13, 2010 4:09am Jan 13, 2010 4:09am
she missed my TP..
  • #192,569
  • Jan 13, 2010 4:11am Jan 13, 2010 4:11am
as long as I'm improving my position, I don't sweat exact entries???

GL

Quoting RChio
Yeah you're right dude... I did trade the numbers... just my entry is a little off lately

Did you ever notice that when you trade multiple lots your trade entry becomes a little off... maybe its just me... But this up trend really doesn't have much ground "logic" for the uptrend though the indicators did show the strength of the uptrend was strong.

Guess I'm trying to get that next step better and have a good understanding of every movement made and the reason why so.

Ideas anyone.

Cheers,
R
Ah Luv the smell of a good prediction in the mornin!
  • #192,570
  • Jan 13, 2010 4:11am Jan 13, 2010 4:11am
Quoting RChio
Yeah you're right dude... I did trade the numbers... just my entry is a little off lately

Did you ever notice that when you trade multiple lots your trade entry becomes a little off... maybe its just me... But this up trend really doesn't have much ground "logic" for the uptrend though the indicators did show the strength of the uptrend was strong.

Guess I'm trying to get that next step better and have a good understanding of every movement made and the reason why so.

Ideas anyone.

Cheers,
R
Actually this uptrend makes perfect sense. Look at the monthly chart. We have been going sideways for a long time now. We are in a consolidating traingle (per that chart. to go lower than this means we continue the downtrend and it goes for 2000+ pips. I don't think it is ready for that yet. Now weekly has been going sideways for 3 weeks, and we are right at the 100 Fib for those previous 2 candles. It has done this same thing for the 2 prior weeks.
  • #192,571
  • Jan 13, 2010 4:12am Jan 13, 2010 4:12am
Quoting KwAAkS
4h closed @1.6241

still short from 1.6230
It means may up may down then. If want a short, SL a few bit above 1.6267 !
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #192,572
  • Jan 13, 2010 4:13am Jan 13, 2010 4:13am
we going up .....
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  • #192,573
  • Jan 13, 2010 4:16am Jan 13, 2010 4:16am
Fibo Fan plays well
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  • #192,574
  • Jan 13, 2010 4:17am Jan 13, 2010 4:17am
Quoting manize
It means may up may down then. If want a short, SL a few bit above 1.6267 !
Save your pips manize brother. go long mate, short at the top 1.6300 -16350. The later is a safer option my friend.
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #192,575
  • Jan 13, 2010 4:17am Jan 13, 2010 4:17am
The way I look at it that it is imminent to go down for two reasons:

1- IN order to move up if there is any good reasons for, then it should make a corrective action by moving down first, then go up..

2- The higher peaks have already touched on the daily on technical chart, Now its time to move down technically spealing on the daily chart...

3- Other reasons are, as long as a Gap is there, the prices must come down to cover, so there is no better time than now...
  • #192,576
  • Jan 13, 2010 4:19am Jan 13, 2010 4:19am
[quote=Baby-Trader;3361392]Fibo Fan plays well[/QUOTE

In the middle of the fan right now it appears. Where is your next target via the fibo fan?
  • #192,577
  • Jan 13, 2010 4:23am Jan 13, 2010 4:23am
Quoting Jassim
The way I look at it that it is imminent to go down for two reasons:

1- IN order to move up if there is any good reasons for, then it should make a corrective action by moving down first, then go up..

2- The higher peaks have already touched on the daily on technical chart, Now its time to move down technically spealing on the daily chart...

3- Other reasons are, as long as a Gap is there, the prices must come down to cover, so there is no better time than now...

I was short for a long time but now it doesn't make sense to go short to me.

1- Technically: reverse head and shoulders on 4h, the price has broken upwards.

2- The weekly is showing signs of Long.

I am not an expert but this is just my opinion.

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  • #192,578
  • Jan 13, 2010 4:26am Jan 13, 2010 4:26am
Quoting Bull_Bear
Save your pips manize brother. go long mate, short at the top 1.6300 -16350. The later is a safer option my friend.
Thank you BB.
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #192,579
  • Jan 13, 2010 4:27am Jan 13, 2010 4:27am
Quoting neo1599
I was short for a long time but now it doesn't make sense to go short to me.

1- Technically: reverse head and shoulders on 4h, the price has broken upwards.

2- The weekly is showing signs of Long.

I am not an expert but this is just my opinion.

Attachment
On weekly, if you pay attention, there is wedge formation....we are now sitting on the tip of the wedge, if this wedge gets broken, then God Bless UK..this wedge miight not get broken...But I would take a weekly wedge very seriously, long is not an option for me
  • #192,580
  • Jan 13, 2010 4:28am Jan 13, 2010 4:28am
Quoting Jassim
The way I look at it that it is imminent to go down for two reasons:

1- IN order to move up if there is any good reasons for, then it should make a corrective action by moving down first, then go up..

2- The higher peaks have already touched on the daily on technical chart, Now its time to move down technically spealing on the daily chart...

3- Other reasons are, as long as a Gap is there, the prices must come down to cover, so there is no better time than now...
Jassim -note how we got to the high today. BIG money moves the market but they did not shove it up to the high. That was "short stop" buying; all of the traders who like to trade breakouts and those who thought they have missed the boat along with the greedy little guys who were long and added to their positions.
Dig into a 5 and 15 min chart and see where Big money marked up price coming to the creek highs of 1.6235-40 and previous support in the area of 1.6250. Also note that there was a wide spread demand bar punching up through the 6192 level to kick this thing off. Since the highs there has been no supply coming into the market which means Big money is staying away and waiting for another opportunity to absorb selling.
I am looking at the 6192 level first to see how they react there. When cable gets rolling these guys do not give a chance to get in on the move. My view.

slick
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