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Cable Update (GBPUSD)

  • #193,741
  • Jan 17, 2010 11:11pm Jan 17, 2010 11:11pm
Quoting Jagdev
looking at the graph ..if it hit and crosses thr red trendline...then probably bullish.
But i see it as not going to touch ..in fact may turn down....why i say that is because..there is a sort of double top situation.....It is just my thought cos i m really new at this. i see it from that angle....

what do u think...??
Really couldn's tell...I'm out of the market waiting for Pa to reach red trendline and see how it behaves. Plus, yesterday's high is the 50% retracement of the FIBO level in my chart and we also have 100 daily MA and the possible double top you mention, and the actual evening star pattern in H1 (already have a nice Doji in previous candle). Cable has many obstacles on the topside, we'll just have to wait for more price action when London opens, IMHO the direction ain't clear for me.
Greetings Mate!!
  • #193,742
  • Jan 17, 2010 11:14pm Jan 17, 2010 11:14pm
Quoting maurofx
Really couldn's tell...I'm out of the market waiting for Pa to reach red trendline and see how it behaves. Plus, yesterday's high is the 50% retracement of the FIBO level in my chart and we also have 100 daily MA and the possible double top you mention, and the actual evening star pattern in H1 (already have a nice Doji in previous candle). Cable has many obstacles on the topside, we'll just have to wait for more price action when London opens, IMHO the direction ain't clear for me.
Greetings Mate!!
That is not a pure evening star on H1, previous candle closed at 1.6307, new candle opened at 1.6308 ( pure evening star --> new H1 should be opened below 1.6307 ) but enough worries me !
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #193,743
  • Jan 17, 2010 11:16pm Jan 17, 2010 11:16pm
Quoting maurofx
Really couldn's tell...I'm out of the market waiting for Pa to reach red trendline and see how it behaves. Plus, yesterday's high is the 50% retracement of the FIBO level in my chart and we also have 100 daily MA and the possible double top you mention, and the actual evening star pattern in H1 (already have a nice Doji in previous candle). Cable has many obstacles on the topside, we'll just have to wait for more price action when London opens, IMHO the direction ain't clear for me.
Greetings Mate!!
thanks bro....i guess we have to wait then....
anyway thanks a million for the useful info..really appreciate that.

have a nice day bro.
  • #193,744
  • Jan 17, 2010 11:20pm Jan 17, 2010 11:20pm
Quoting manize
That is not a pure evening star on H1, but enough worries me !
Patience my friend, you still have 40 minutes till it closes...and almost 3 hours till London open. Damn choppy markets, I'm falling asleep!!! Damn US holidays, DAMN DAMN!! LOL!!!
  • #193,745
  • Jan 17, 2010 11:21pm Jan 17, 2010 11:21pm
Quoting Jagdev
thanks bro....i guess we have to wait then....
anyway thanks a million for the useful info..really appreciate that.

have a nice day bro.
Anytime mate Hope you make a billlion pips today!!! LOL!!
  • #193,746
  • Jan 17, 2010 11:29pm Jan 17, 2010 11:29pm
Quoting maurofx
Patience my friend, you still have 40 minutes till it closes...and almost 3 hours till London open. Damn choppy markets, I'm falling asleep!!! Damn US holidays, DAMN DAMN!! LOL!!!
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #193,747
  • Jan 17, 2010 11:31pm Jan 17, 2010 11:31pm
Quoting manize
I love M15, the new one is opening above 1.6312 !
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #193,748
  • Jan 17, 2010 11:37pm Jan 17, 2010 11:37pm
Quoting maurofx
Patience my friend, you still have 40 minutes till it closes...and almost 3 hours till London open. Damn choppy markets, I'm falling asleep!!! Damn US holidays, DAMN DAMN!! LOL!!!
well it means will pending bearish untill tomorrow but just wait london season
Fundametal is the Trigger....
  • #193,749
  • Jan 17, 2010 11:43pm Jan 17, 2010 11:43pm
Quoting Yngwie
I will give my simple view of GU. Trading range 1.6233 ~ 1.6356. Currently candle 4H & 1H TF open above 1.6356 meaning that 70% we will see price will going up to 1.6356. I will say that only news impact can make price will going down below 1.6356. If candle for 4H TF open below 1.6356 we will see 1.5833.

GL

Did anybody read my post 23 hours ago? We dont need lovely chart to know the direction.. lol
Live trade ~ GBPUSD only. No chart! Follow at your own risk!
  • #193,750
  • Jan 17, 2010 11:47pm Jan 17, 2010 11:47pm
Quoting Yngwie
Did anybody read my post 23 hours ago? We dont need lovely chart to know the direction.. lol
Seeing the last M15 candle close/open, probably will hit my target 1.6354/67 !
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #193,751
  • Jan 17, 2010 11:47pm Jan 17, 2010 11:47pm
Check out how Price re tests the old upper trendline...It's working as a pretty good resistance. Still outside waiting for a good confirmation.
Don't take it personal my dear Manize lmao!!!
Attached Image (click to enlarge)
Click to Enlarge Name: gu2.gif Size: 81 KB
  • #193,752
  • Jan 17, 2010 11:50pm Jan 17, 2010 11:50pm
Quoting maurofx
Check out how Price re tests the old upper trendline...It's working as a pretty good resistance. Still outside waiting for a good confirmation.
Don't take it personal my dear Manize lmao!!!
Nope friend ..... it is my risk if hit my stop loss ! Loss is a part of trade but should dare loss to be success as long as we trade what we plan, NOT OTHERS PLAN !
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #193,753
  • Jan 18, 2010 12:02am Jan 18, 2010 12:02am
Quoting manize
Nope friend ..... it is my risk if hit my stop loss ! Loss is a part of trade but should dare loss to be success as long as we trade what we plan, NOT OTHERS PLAN !
Of course, I didn't mean disrespect or something like that at all mate, I've red your posts millons of times and really respect your opinion!! Keep doing what you plam, It seems it has worked so far for you!!
  • #193,754
  • Jan 18, 2010 12:15am Jan 18, 2010 12:15am
That was one serious drop,are we still in a bullish run?i think its best to sit back and wait out.
  • #193,755
  • Jan 18, 2010 12:17am Jan 18, 2010 12:17am
Quoting maurofx
Of course, I didn't mean disrespect or something like that at all mate, I've red your posts millons of times and really respect your opinion!! Keep doing what you plam, It seems it has worked so far for you!!
I reverse short to recover - 8 pips , once a new H1 close/open below 1.6308 !
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #193,756
  • Jan 18, 2010 12:18am Jan 18, 2010 12:18am
Didn't I tell you Head n Shoulder is likely to happen? Here's my chart I posted on Saturday.

I've sold it at 1.63151, 4 pips from the exact top. +30 pips and SL to be.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPU.jpg Size: 183 KB
"Hate the sin, love the sinner." - Gandhi
  • #193,757
  • Jan 18, 2010 12:25am Jan 18, 2010 12:25am
Tis be the time to start buying =)
  • #193,758
  • Jan 18, 2010 1:03am Jan 18, 2010 1:03am
Quoting MoForce
Tis be the time to start buying =)
yes
  • #193,759
  • Jan 18, 2010 1:09am Jan 18, 2010 1:09am
Quoting intrepid1
yes
Not easy broken 1.6309/12 ! More better waiting for London session open !
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #193,760
  • Jan 18, 2010 1:09am Jan 18, 2010 1:09am
Quoting intrepid1
yes
Maybe for very short term... still running with sl @ be
"Hate the sin, love the sinner." - Gandhi
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