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Cable Update (GBPUSD)

  • #197,401
  • Feb 1, 2010 5:32am Feb 1, 2010 5:32am
Quoting bbmac
Price currently in steep downtrend 15min-4hr with daily see-ing a H, HL,LH and now a L off that 6457 recent swing H on the Daily t/f..Ascending Daily t/f trend line and Weekly S1 pivot breeched to the downside now...Price currently testing a near-term obvious previous swing lo=prev supp=potential support zone 4hr/Daily.

Daily chart showing potential support is below;

G/L

http://i50.tinypic.com/depo29.jpg

My charts show the same, I think it will test 1.575x/4x area before going back up for correction to 1.6050-1.61.
  • #197,402
  • Feb 1, 2010 5:35am Feb 1, 2010 5:35am
i could go as low as 1.58 ....i think, i know its not technical but it could have enugh momentum to go through 1.5832
  • #197,403
  • Feb 1, 2010 5:37am Feb 1, 2010 5:37am
Quoting skiffx
My charts show the same, I think it will test 1.575x/4x area before going back up for correction to 1.6050-1.61.

Certainly that previous swing lo=previous support=potential support zone on the daily extending down to 5707 is co-existant with the same on the weekly t/f and is the bottom extreme of the weekly range that built up from middle of last year 7044-5707. At base of that zone is the 38.2% fib of last years 3505-7044 lo-Hi.

G/L
ex member
  • #197,404
  • Feb 1, 2010 5:47am Feb 1, 2010 5:47am
Quoting big_pipin
well down to 5850 we go. Hold on to your hats.
and it did luckily i didn't LONG when it was 5900, but now I'm too late to do it when it was 5850, or am I not?
  • #197,405
  • Feb 1, 2010 5:49am Feb 1, 2010 5:49am
Thoughts?

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD,_Forex_Spot,_Daily,_Local_time_(GMT-5)-2010-02-01_06.41.11.jpg Size: 244 KB
  • #197,406
  • Feb 1, 2010 5:53am Feb 1, 2010 5:53am
hi guys

i'm waiting for a retest of 1.5850, and to see a good pattern to go long....any suggestion?
I don't want a job, i want money!
  • #197,407
  • Feb 1, 2010 6:04am Feb 1, 2010 6:04am
Quoting dario1002
hi guys

i'm waiting for a retest of 1.5850, and to see a good pattern to go long....any suggestion?
why not 40 or 30?
  • #197,408
  • Feb 1, 2010 6:06am Feb 1, 2010 6:06am
Quoting Ronin77
did you enter at 1.5850? and if so what is your target and stop loss?
Not yet mate, i need some confirmation on chart. And some FA. No reversal signal yet atm
  • #197,409
  • Feb 1, 2010 6:10am Feb 1, 2010 6:10am
Quoting forexer101
and it did luckily i didn't LONG when it was 5900, but now I'm too late to do it when it was 5850, or am I not?
No, its not too late, there is still plenty of upside potential left.
  • #197,410
  • Feb 1, 2010 6:10am Feb 1, 2010 6:10am
Quoting skiffx
why not 40 or 30?
it was today's lowest... seems to be a good resistence and a good "mental barrier"

waiting for some strog reversal signs

Dario
I don't want a job, i want money!
  • #197,411
  • Feb 1, 2010 6:11am Feb 1, 2010 6:11am
MarketInstrumentTypeDescriptionCreate TimeUpdate Time
ForexGBPUSDSostratos FX Daily StrategyBullish (direct rise). An immediate rise is expected on the market.01-Feb-2010 10:36:56 AM01-Feb-2010 10:37:00 AM
The market is upside oriented today. We advise to play this bullish strategy as long as the market does not go below 1.5808, as we anticipate a direct rise to 1.6053. Buy close to 1.5848 to play a rise to 1.6053. The invalidation level of this trade idea is at 1.5808.

From my trading advisors...
  • #197,412
  • Feb 1, 2010 6:15am Feb 1, 2010 6:15am
  •  Ronin77
  • | Joined Dec 2008 | Status: เงินกินเปล่า | 95 Posts
Quoting big_pipin
No, its not too late, there is still plenty of upside potential left.
cheers
Ronin77
  • #197,413
  • Feb 1, 2010 6:19am Feb 1, 2010 6:19am
  •  Ronin77
  • | Joined Dec 2008 | Status: เงินกินเปล่า | 95 Posts
Quoting FXTheOne
Not yet mate, i need some confirmation on chart. And some FA. No reversal signal yet atm
cheers mate thanks for reply
Ronin77
  • #197,414
  • Feb 1, 2010 6:20am Feb 1, 2010 6:20am
Quoting Ronin77
cheers
giggity giggity goo

Inserted Video
  • #197,415
  • Feb 1, 2010 6:21am Feb 1, 2010 6:21am
Mads Koefoed, Market Strategist, Saxo Bank
ISM Manufacturing Index from the US is the most significant economic data today and marks the start to a busy week. Due at 15:00 (GMT), we're expecting the figure for January to see a slight improvement to 56.4, from 55.9. Consensus is 55.5 - a slight fall but still showing expansion.




So a positive number could further assist GU to the northside...
  • #197,416
  • Feb 1, 2010 6:23am Feb 1, 2010 6:23am
4 more pips up and I'm long for a little
  • #197,417
  • Feb 1, 2010 6:30am Feb 1, 2010 6:30am
Quoting Fly2
4 more pips up and I'm long for a little
You will enter long or keep holding your long?
  • #197,418
  • Feb 1, 2010 6:30am Feb 1, 2010 6:30am
Quoting skiffx
So a positive number could further assist GU to the northside...
north side or further south?
Don't tell me how much you can earn. Tell me how much you may lose..
  • #197,419
  • Feb 1, 2010 6:32am Feb 1, 2010 6:32am
Quoting skiffx
You will enter long or keep holding your long?
just waiting to see if 50 get another hit
  • #197,420
  • Feb 1, 2010 6:38am Feb 1, 2010 6:38am
i just know that it could possibly going down more.eventhough cable cld do sum retracemnt 2 d upside doh.
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