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Cable Update (GBPUSD)

  • #218,041
  • Apr 15, 2010 8:42am Apr 15, 2010 8:42am
Quoting kill56
any body see that we are stuck in here and may be the other news might move the market
dont know if you've noticed but lately we just end up with chopiness after news releases
  • #218,042
  • Edited 8:55am Apr 15, 2010 8:44am | Edited 8:55am
Quoting kill56
i dont know much about elliot but i think we dont have much up

i might be wrong
Playing out very similar to about 8am yesterday (not this) morning if you look at the M15 chart, struggling with 15447 level again.

EDIT: YESTERDAY! DOH!
Back to basics, it has to be for me!
  • #218,043
  • Apr 15, 2010 8:45am Apr 15, 2010 8:45am
Quoting lexazver
dont know if you've noticed but lately we just end up with chopiness after news releases

sure bro and cable did move 150pip but still we have more news to come
  • #218,044
  • Apr 15, 2010 8:47am Apr 15, 2010 8:47am
Kenn,


If you search my name you will find my 4hr/daily EW's and why I believe we are currently headed downward...

on smaller TF'sCurrently what I see is
Wav1 1.5522 to 1.5383
Wav2 38-80% of wav1 1.5436 to 1.5494
Wav3 1.618 of wav1 1.5299

We could still go higher in wav2 during this session and hopefully we will to short from higher. Hopefully pic helps
Wave 2 can't go i tick higher than wav1 or it invalidates the count.

Wav2 is typically 62-80% of wav1 so look for reversals there. (see chart)

Obviously the best entry short is higher and closer to your stoploss.
Off to work...hopefully this helps...
Attached Image (click to enlarge)
Click to Enlarge Name: gu_apr15.5.gif Size: 25 KB
  • #218,045
  • Apr 15, 2010 8:53am Apr 15, 2010 8:53am
Hmm. 1.5470 is 61.%retracement of todays fall and also very close to yesterdays NY close, should be an interesting level to observe .
  • #218,046
  • Apr 15, 2010 8:53am Apr 15, 2010 8:53am
Quoting Jefftrader
Kenn,


If you search my name you will find my 4hr/daily EW's and why I believe we are currently headed downward...

on smaller TF'sCurrently what I see is
Wav1 1.5522 to 1.5383
Wav2 38-80% of wav1 1.5436 to 1.5494
Wav3 1.618 of wav1 1.5299

We could still go higher in wav2 during this session and hopefully we will to short from higher. Hopefully pic helps
Wave 2 can't go i tick higher than wav1 or it invalidates the count.

Wav2 is typically 62-80% of wav1 so look for reversals there. (see chart)

Obviously the best entry short is higher...
Thanks sooo much brother... Helps me a ton!!!
@pawpaw1000 on Twitter
  • #218,047
  • Apr 15, 2010 8:55am Apr 15, 2010 8:55am
NY seem to disagree with london almost daily
  • #218,048
  • Apr 15, 2010 8:56am Apr 15, 2010 8:56am
Quoting fendi
Short G/U target 1.5360 anyone doubt let me know why.........
Fendi,

Excellent, you backed up your analysis with a chart.. good job. Now for business.. I would beleive that it will be hard pressed to reach that at this time (if short term trade). We bounced off the 30M 200 and we are heading back up. One thing you have going for you on your side is that we have reached the weekly targets so may be hard to break at this point.

In addition the 1440 is now the support on the 1H chart.
Attached Image (click to enlarge)
Click to Enlarge Name: test.gif Size: 19 KB
  • #218,049
  • Apr 15, 2010 8:59am Apr 15, 2010 8:59am
Just another lesson confirmed once again. 50 pips does not a trendline break. I have been touting this word TEST all the time. Sometimes the TEST holds and sometimes it fails. Here is a case in which a 4 hr UTL was breeched and tested and the test failed and the price came back up thru, arrow shows the test. Just as I figured it would do. This bodes well for the strength of this uptrend since the DPP was right there also. So lets see if we get a test of the DPP at 1.5442 as well.

Jim
Attached Image (click to enlarge)
Click to Enlarge Name: gu.gif Size: 44 KB
  • #218,050
  • Apr 15, 2010 9:08am Apr 15, 2010 9:08am
I am short GU 1.5465
  • #218,051
  • Apr 15, 2010 9:09am Apr 15, 2010 9:09am
Quoting Ctic
Fendi,

Excellent, you backed up your analysis with a chart.. good job. Now for business.. I would beleive that it will be hard pressed to reach that at this time (if short term trade). We bounced off the 30M 200 and we are heading back up. One thing you have going for you on your side is that we have reached the weekly targets so may be hard to break at this point.

In addition the 1440 is now the support on the 1H chart.
At last some decent analysis! You have saved me from going insane in the brain
  • #218,052
  • Apr 15, 2010 9:10am Apr 15, 2010 9:10am
This is kind of a rythorical question but it does have an answer somewhere im just wondering WHY pound is so resilient, and not just against 1 corrency but against EURO, against DOLLAR agains YEN and to some extent SWISSY, im just trying to understand where does demand (last few weeks) come from (unless they pump it now just to trash later).....
  • #218,053
  • Apr 15, 2010 9:10am Apr 15, 2010 9:10am
nice pump this
  • #218,054
  • Apr 15, 2010 9:10am Apr 15, 2010 9:10am
Quoting Atlast
I am short GU 1.5465
Same here.....1.5464...targeting 1.5360
COT: The precious data ignored
  • #218,055
  • Apr 15, 2010 9:11am Apr 15, 2010 9:11am
Quoting pawpaw1000
Thanks sooo much brother... Helps me a ton!!!
Bro, don't try to run before you can walk!
  • #218,056
  • Apr 15, 2010 9:13am Apr 15, 2010 9:13am
Quoting kuroro001
Same here.....1.5464...targeting 1.5360
short 5470... s/l 5490... t/p 5330

Cancelling this order until I see a clear turn in price... NOT gonna catch falling knives...
@pawpaw1000 on Twitter
  • #218,057
  • Apr 15, 2010 9:13am Apr 15, 2010 9:13am
Quoting Nene
Just another lesson confirmed once again. 50 pips does not a trendline break. I have been touting this word TEST all the time. Sometimes the TEST holds and sometimes it fails. Here is a case in which a 4 hr UTL was breeched and tested and the test failed and the price came back up thru, arrow shows the test. Just as I figured it would do. This bodes well for the strength of this uptrend since the DPP was right there also. So lets see if we get a test of the DPP at 1.5442 as well.

Jim
yup. and you got the major supp/res level @5380 to add as well.
dunno how the pros here get the lower numbers from when there's a clear barrier there. Must be nice trading blind lol

earlier chart:
1. http://www.forexfactory.com/showpost...stcount=217605

keep buying 'em
Attached Image (click to enlarge)
Click to Enlarge Name: guda.gif Size: 22 KB
Thank You
  • #218,058
  • Apr 15, 2010 9:13am Apr 15, 2010 9:13am
Quoting Bull_Bear
Trrade closed @ 1.5432

Buy

1.5432.. SL.. 1.5370.. TP.. 1.5540
He's back on the bull side!
  • #218,059
  • Apr 15, 2010 9:14am Apr 15, 2010 9:14am
Quoting bbakker
Bro, don't try to run before you can walk!
I reckon elliott waves are an important part of my toolbox and I need to learn to be able to interpret them... I am learning more every day about s/r so why not do elliott waves at the same time?

Practise practise practise mate...
@pawpaw1000 on Twitter
  • #218,060
  • Apr 15, 2010 9:15am Apr 15, 2010 9:15am
Quoting lexazver
This is kind of a rythorical question but it does have an answer somewhere im just wondering WHY pound is so resilient, and not just against 1 corrency but against EURO, against DOLLAR agains YEN and to some extent SWISSY, im just trying to understand where does demand (last few weeks) come from (unless they pump it now just to trash later).....
It is all in the charts!
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