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Cable Update (GBPUSD)

  • #213,361
  • Apr 6, 2010 7:25am Apr 6, 2010 7:25am
Actually it is a bearish consolidation formation leading to a bullish continuation.

In English? We are going up a bit more.
  • #213,362
  • Apr 6, 2010 7:27am Apr 6, 2010 7:27am
Quoting cloggie
Actually it is a bearish consolidation formation leading to a bullish continuation.
but isnt that a bear flag? consolidation in opposite direction and then continuing down?
@pawpaw1000 on Twitter
  • #213,363
  • Apr 6, 2010 7:27am Apr 6, 2010 7:27am
Quoting cloggie
Actually it is a bearish consolidation formation leading to a bullish continuation.

In English? We are going up a bit more.
BEARISH continuation???

Reckon? the 1hour candles are looking really bearish... so are m15 and m30... below ma25 for m5...
@pawpaw1000 on Twitter
  • #213,364
  • Apr 6, 2010 7:28am Apr 6, 2010 7:28am
Quoting pawpaw1000
but isnt that a bear flag? consolidation in opposite direction and then continuing down?
No it is a bullish continuation of the retrace, hence a consolidation of the bearish reversal of the initial retrace that was consolidated into a bullish formation of the continuation.

Yes, we going UP
  • #213,365
  • Apr 6, 2010 7:30am Apr 6, 2010 7:30am
Quoting cloggie
Actually it is a bearish consolidation formation leading to a bullish continuation.
Fibre has finally broken through the 13400 mark, so cable to follow down, or is it a bear tease?
  • #213,366
  • Apr 6, 2010 7:32am Apr 6, 2010 7:32am
well, g2g...

got 3 open shorts with s/l above 5200...

I reckon we will at least hit 5130 where 50% of open trade will be tp and then 5100 for the remaining...
@pawpaw1000 on Twitter
  • #213,367
  • Apr 6, 2010 7:36am Apr 6, 2010 7:36am
Quoting pawpaw1000
well, g2g...

got 3 open shorts with s/l above 5200...

I reckon we will at least hit 5130 where 50% of open trade will be tp and then 5100 for the remaining...

Not me, not convinced yet we are going back down, this retrace has some bite left in it. That little down candle was NY open in my oh so humble opinion. And I got a bit of an issue with that 150ma on H1
  • #213,368
  • Apr 6, 2010 7:39am Apr 6, 2010 7:39am
Quoting cloggie
No it is a bullish continuation of the retrace, hence a consolidation of the bearish reversal of the initial retrace that was consolidated into a bullish formation of the continuation.

Yes, we going UP
No I do not I concur. Its a continuation of the consolidation of the bull move that was the initial bear retrace consolidation. Therefore this consolidation move is merely a consolidation of bear continuation ... (Just kidding buddy)

I'm on this for a short scalp from1.5179. If there is any move to the upside, I consider it a technical retrace and not a fundamental bull move... In short bbakker, trust your own analysis although I always find cloggie's analysis a good alternative analysis
  • #213,369
  • Apr 6, 2010 7:42am Apr 6, 2010 7:42am
Quoting cloggie
Not me, not convinced yet we are going back down, this retrace has some bite left in it. That little down candle was NY open in my oh so humble opinion.
All opinions count, humble or not

EDIT: A break of 15144 would make you change back to a bear stance, right? That's with all four pawpaws against the wall
  • #213,370
  • Apr 6, 2010 7:44am Apr 6, 2010 7:44am
Quoting bbakker
All opinions count, humble or not
Oh I can count, all the way to a hundred, we all now you can count to a hundred and back....

Seriously though the reason why I feel this retrace has some bite to it, is the 150ma on H1 we are set to range for a bit here before a clear direction.
  • #213,371
  • Apr 6, 2010 7:45am Apr 6, 2010 7:45am
Quoting cloggie
Oh I can count, all the way to a hundred, we all now you can count to a hundred and back....

Reason why I feel this retrace has some bite is the 150ma on H1 we are set to range for a bit here before a clear direction.
and in 3 different languages
  • #213,372
  • Apr 6, 2010 7:46am Apr 6, 2010 7:46am
Quoting bbakker
and in 3 different languages

Good jolly banter on the trading floor, I love it.

Edit: pawpaw may just get his way here, lucky sod.
  • #213,373
  • Apr 6, 2010 7:51am Apr 6, 2010 7:51am
OK kiss 1.6152 again ---> 3 shorts are safe now !
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #213,374
  • Apr 6, 2010 7:52am Apr 6, 2010 7:52am
Approaching 1.5150, lets see if the yanks have the will to break it and hold it down
  • #213,375
  • Apr 6, 2010 7:53am Apr 6, 2010 7:53am
Quoting cloggie
Good jolly banter on the trading floor, I love it.

Edit: pawpaw may just get his way here, lucky sod.
A break of 15144 would make you change back to a bear stance, right? That's with all four pawpaws against the wall http://cdn.forexfactory.com/images/s...m/big_grin.gif
  • #213,376
  • Apr 6, 2010 7:55am Apr 6, 2010 7:55am
Quoting bbakker
A break of 15144 would make you change back to a bear stance, right? That's with all four pawpaws against the wall http://cdn.forexfactory.com/images/s...m/big_grin.gif
Careful bbakker, 1.5150 might just hold...
  • #213,377
  • Apr 6, 2010 8:00am Apr 6, 2010 8:00am
@kill

Pelase send bear cavalary to clear WP 1.5148 !
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #213,378
  • Apr 6, 2010 8:02am Apr 6, 2010 8:02am
Quoting Bitstream
Careful bbakker, 1.5150 might just hold...
That's OK. I'm still counting forwards and backwards quite a bit at the moment.

I know that cloggie cashed in @ 15130, but I was wondering what would be the price when he goes short again. I assume his MAs would also be a factor in his decision making.
  • #213,379
  • Apr 6, 2010 8:07am Apr 6, 2010 8:07am
Quoting bbakker
That's OK. I'm still counting forwards and backwards quite a bit at the moment.

I know that cloggie cashed in @ 15130, but I was wondering what would be the price when he goes short again. I assume his MAs would also be a factor in his decision making.
We have stalled at 15150 before. If NY cant clear this level convincingly early in the session, I'm cashing out. No pending news except for the FOMC minutes coming out in a few hours, but no surprises there. So bottom line, if we don't see a convincing break, I think Cloggie will have it his way.
  • #213,380
  • Apr 6, 2010 8:09am Apr 6, 2010 8:09am
Quoting Bitstream
We have stalled at 15150 before. If NY cant clear this level convincingly early in the session, I'm cashing out. No pending news except for the FOMC minutes coming out in a few hours, but no surprises there. So bottom line, if we don't see a convincing break, I think Cloggie will have it his way.
Oh and if Cloggie say 15150 arbitrary figure, its not. Its observation. I have observed more often than not that cable has an affinity of 00 and 50 levels. Much more so that most other pairs, so I tend to use those levels as S/R
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