Cable Update (GBPUSD)

:nerd: DP Today 07.00 am GMT +7 1.5299 ! Support failure 1.5282, if broken --> 15187 ! Resistant faliure R1 ( 1.5398 ), if bounced up and broken ---> 1.5424/57 !

http://img532.imageshack.us/img532/8...d20100317b.gif

http://www.forexfactory.com/showpost...stcount=203582


Well took a little longer than anticipated but hit T1 of the the above target zone.

Good afternoon/morning

Truck Loads of pips............ keep collecting !!

GBPUSD (1.5347) • Sterling has shot higher and moved from an underperformer to the top
performing currency on the day, up 0.7% against the USD, following

the release of February’s employment data which showed a very surprising and very large

32.3K fall in UK jobless claims

(against+6K expected). Just as impressive is the revision

in the January read from a previous increase of 23.5K to only 5.3K

. This is the fastest pace of decline in jobless claims since 1997. GBP has definitively broken to the topside

and is challenging resistance at the 1.5360 level. Past there the 1.55 level is the
next major challenge. Sterling’s intraday trading ranges have been wide in recent sessions,
suggesting the risk of retracement, however the employment result may be just the catalyst
that GBPUSD needs to move more certainly away from 1.50.

Comments from BoE policy maker Charles Bean on inflation may suggest a slightly less dovish BoE

(though they reiterate their willingness to act both ways on QE) as Mr. Bean suggested that
when controlling for the impact of VAT hikes, energy and GBP’s rapid fall, the underlying
inflation trend has been quite resilient. However, even Bean believes that inflation remains
anchored and policymaker worry over the durability of the recovery suggests uncertainty over

the future path of the Bank’s QE measures.


http://dynexcorp.com/charts/images/bpweek.png

Not easy breaks 1.5282 ! Anyway I went short 1.5295 ! SL 1.5320 ! Target 1.5187 !

Broken 1.5282 on H1 close/open ! I prefer like 100 pips or BE not just only 25 pips !

Pull up again !

We each carry our own independent market views. The idea was based on candlestick formations based on daily. 2 brokers, 2 different daily views makes for 2 different candlestick patterns.

Templates, time frames, oscillators, moving averages and other indies will all have some variance also based on the historical data and the number of decimal places available on the chart.

There are several different ideas and great strategies for watching price
action and a lot of great arguments for and against any and all trading
system, but if you want to compare apples to apples, it's best to do just that.

My opinion of candlestick analysis has always been low, there may be some validation, but again, these are very open to interpretation especially on any time frame over the hourly because it can be broker dependent.

If somebody wants to trade by them, all the power to them. I was just trying to add a little information that others may not be familiar with.

Holding short from 1.5364, looking to test the monthly low.

Took a few others small rides on the way down, but like the looks for lower lows.

1.55**
1.545**
1.5375**
1.5285
1.5205**
1.515***
1.5075***

http://www.tradingcentral.com/chart/...0318072202.gif

Pattern is now valid. Time to manage the trade.

Chart:

1. http://www.forexfactory.com/showpost...stcount=207016

2. http://www.forexfactory.com/showpost...stcount=207067


Chart followup attached below. We've moved trade into BE+4 @5355,
all locked in safe. We'll likely see a challenge towards dp, before any serious move. Let's see what happens

Good luck everyone.

I like

Good morning ladies and gentlemen,

I hope you are all nicely refreshed and you've had a wonderful sleep. I had 4 hours kip last night and I'm bloody shattered with a cold settling in My ears are about to pop with mucus overload, but funnily enough I'm as chirpy as the morning birds causing a bloody racket outside in my garden. MY signal says short, but @ the right price. Wishing everyone a prosperous day. GL

Pawpay where are you? I don't want you to miss the action today, old boy. I'm expecting a beautiful firework display soon that I don't want you to miss.

how does a http://t1.gstatic.com/images?q=tbn:R...-20-transp.gif pay ??????????

HAHAHAHA!

Just arrived brother and very excited!!!

have a quick meeting in 1 hour but it wont be longer than 20 min, contract talk

so, where we heading!!! just waiting for initial spike from london and then adding to my short!!!

I'm at 5362