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Cable Update (GBPUSD)

  • #201,801
  • Feb 25, 2010 12:56am Feb 25, 2010 12:56am
Quoting Liquid
I completely agree. I think price could drop to 1.5065 before we see a retrace.
I'll be interested to see what happens at 1.5270. Another support area from based on the 50% retracement from the bottom of the up move from Jan 2009. A lot of news today, should be interesting
  • #201,802
  • Feb 25, 2010 1:15am Feb 25, 2010 1:15am
GU has exceeded ave range; with Eur and Ftse firm; I am thinking we may bounce
  • #201,803
  • Feb 25, 2010 1:20am Feb 25, 2010 1:20am
Quoting Trade888
GU has exceeded ave range; with Eur and Ftse firm; I am thinking we may bounce
Any bounce that would happen would happen right about here. If it breaks here, bye bye pound.
  • #201,804
  • Feb 25, 2010 1:20am Feb 25, 2010 1:20am
do you waiting 1.43550 ?
Attached Image (click to enlarge)
Click to Enlarge Name: gu-w.gif Size: 14 KB
  • #201,805
  • Feb 25, 2010 1:32am Feb 25, 2010 1:32am
Quoting Liquid
I completely agree. I think price could drop to 1.5065 before we see a retrace.
Hey
What pivot and resistance indicators are those ?
  • #201,806
  • Feb 25, 2010 1:32am Feb 25, 2010 1:32am
Mervyn King is on the attack...As he beats the pound down...
Attached Image
  • #201,807
  • Feb 25, 2010 1:38am Feb 25, 2010 1:38am
ooooh
http://cdn.forexfactory.com/attachme...1&d=1267028086
  • #201,808
  • Feb 25, 2010 1:39am Feb 25, 2010 1:39am
There seems to be no strength to go further down.
  • #201,809
  • Feb 25, 2010 1:41am Feb 25, 2010 1:41am
Quoting jarnapal
There seems to be no strength to go further down.
That is because we are at a major support line. This is the monthly and quarterly fib line. If we are to retrace back up, this is the spot to do it. I would hold off on the long's until further conformation.
  • #201,810
  • Feb 25, 2010 1:44am Feb 25, 2010 1:44am
Quoting Ctic
That is because we are at a major support line. This is the monthly and quarterly fib line. If we are to retrace back up, this is the spot to do it. I would hold off on the long's until further conformation.
I was long before the news which was a stupid thing to do and it stopped me out. Thanks for confirming the support line.
  • #201,811
  • Feb 25, 2010 1:44am Feb 25, 2010 1:44am
waiting for a pattern in the 50 percent fibs for reversal.. -49 pips before. still no change for bias. looking for a reversal pattern..
  • #201,812
  • Feb 25, 2010 1:45am Feb 25, 2010 1:45am
hammer coming on the 1hr?
  • #201,813
  • Feb 25, 2010 1:46am Feb 25, 2010 1:46am
we are not don yet
Attached Image
  • #201,814
  • Feb 25, 2010 1:56am Feb 25, 2010 1:56am
hi guys,

first few posts for a while in the GBPUSD thread, keep missing the boat on the EURUSD for positions so looking inot GBPUSD as well now.

Here's my take on things at the moment, i think I've just seen a chart by someone else that is pretty similar to mine. I've put up my 4hr which shows nicely the descending trendlines that have been in place since early feb. also in play is a descending wedge.

we've just seen some support at 50% fib lvel at 1.5278 but confirmation is needed in a few hours for any signs of a reversal.

Looking for price to move to 1 before shorting again looking to break that fib level.

JP
Attached Image (click to enlarge)
Click to Enlarge Name: Picture 6.png Size: 40 KB
  • #201,815
  • Feb 25, 2010 2:08am Feb 25, 2010 2:08am
The bear win again. In this circle, no jumbo round, the GU changed the pattern, boiling frox, this kill the short TF player.
Face both Win and Lose bravely
  • #201,816
  • Feb 25, 2010 2:14am Feb 25, 2010 2:14am
#201810

?
  • #201,817
  • Feb 25, 2010 2:19am Feb 25, 2010 2:19am
2nd downwave start at 50% and end at 161.8% from the 1st downwave..
Attached Image (click to enlarge)
Click to Enlarge Name: 2010-02-25_2ndwave.jpg Size: 165 KB


3rd downwave start at 50% and end at 161.8% from the 2nd downwave..
Attached Image (click to enlarge)
Click to Enlarge Name: 2010-02-25_3rdwave.jpg Size: 161 KB


4th downwave start at 50% from the 3rd downwave..
end at 1.5200???
Attached Image (click to enlarge)
Click to Enlarge Name: 2010-02-25_4thwave.jpg Size: 165 KB
Patience + Discipline =
  • #201,818
  • Feb 25, 2010 2:20am Feb 25, 2010 2:20am
what pice would that plz could u specify

Quoting jp09
hi guys,

first few posts for a while in the GBPUSD thread, keep missing the boat on the EURUSD for positions so looking inot GBPUSD as well now.

Here's my take on things at the moment, i think I've just seen a chart by someone else that is pretty similar to mine. I've put up my 4hr which shows nicely the descending trendlines that have been in place since early feb. also in play is a descending wedge.

we've just seen some support at 50% fib lvel at 1.5278 but confirmation is needed in a few hours for any signs of a reversal.

Looking for...
We cannot direct the winds but we can adjust our sail.
  • #201,819
  • Feb 25, 2010 2:26am Feb 25, 2010 2:26am
What a nasty night of trading....heavy trending, scalpers nightmare.

Made it out safe Will not push it, enough trading for the night.

Heavy volume tonight, scalping is expensive.

Spent a stupid amount of money in an hour just to place trades. Anyone getting better than a 1.8 spread on cable?



My condolences to those who got stopped out sub 1.5300....at least you live to trade another day.

Got in HEAVY at 1.5275 .... out at 1.5323
  • #201,820
  • Feb 25, 2010 2:31am Feb 25, 2010 2:31am
Quoting Jemmy
2nd downwave start at 50% and end at 161.8% from the 1st downwave..
Attachment

3rd downwave start at 50% and end at 161.8% from the 2nd downwave..
Attachment

4th downwave start at 50% from the 3rd downwave..
end at 1.5200???
Attachment
all master trader...long term trend pair gbpusd buy or sell?bcoz my predic...buy..n now retracement....at d1...retracement level 50% fibonacci..thanks
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