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Cable Update (GBPUSD)

  • #219,021
  • Apr 18, 2010 9:34pm Apr 18, 2010 9:34pm
Quoting forexlion
on a serious note

i use 15 min charts for intra day and 4 hour charts to map the trend

my chart suggested a long possibility subject to 5266 so took it with 5 pip tp's

http://img219.imageshack.us/img219/1043/cable.gif
well there goes my SL and the daily support, this thing is going deeper than i thought it would or could
  • #219,022
  • Apr 18, 2010 9:34pm Apr 18, 2010 9:34pm
Quoting A-speculator
There's rumours that the aussie has no more steam and will be the end of the big rally, what do you guys think?

if the oil is going down sure its
  • #219,023
  • Apr 18, 2010 9:37pm Apr 18, 2010 9:37pm
this chart still valid i might be wrong its the wrong chart
Attached Image (click to enlarge)
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  • #219,024
  • Apr 18, 2010 9:39pm Apr 18, 2010 9:39pm
this one sorry
Attached Image (click to enlarge)
Click to Enlarge Name: h4 cable.gif Size: 35 KB
  • #219,025
  • Apr 18, 2010 9:40pm Apr 18, 2010 9:40pm
Quoting kill56
if the oil is going down sure its
Yups, I agree with that, but logically, in the/this "recovery" period, we don't normally have a downtrend in oil price, and so is gold. But that what the romours is..

Anyway, looking at aussie, it close to its 07.2008 peak, i think maybe, just maybe the aussie might have a pullback and soon be making new high..
  • #219,026
  • Apr 18, 2010 9:42pm Apr 18, 2010 9:42pm
Quoting kill56
this one lorry
http://img202.imageshack.us/img202/4...1365lorry1.jpg

ok
  • #219,027
  • Apr 18, 2010 9:46pm Apr 18, 2010 9:46pm
Opportinuty to go long from fib 38.2? Any ideas or will it consolidate till EUR session opens?
  • #219,028
  • Apr 18, 2010 9:49pm Apr 18, 2010 9:49pm
Quoting forexlion
http://img202.imageshack.us/img202/4...1365lorry1.jpg

ok

darn the door is open for 15160 its a matter of time
  • #219,029
  • Apr 18, 2010 9:49pm Apr 18, 2010 9:49pm
Looking at 4h, I still have the long bias, not yet ready for short, not until we have new low. Currently, 4h suggest we have higher high, higher low (latest rally), I might long @ 5250 if we have consolidation in that area and EU @ 1.3430 (61.8 fibo retracement).. right now relax @ old town white coffee...
  • #219,030
  • Apr 18, 2010 9:53pm Apr 18, 2010 9:53pm
Quoting forexlion
http://img202.imageshack.us/img202/4...1365lorry1.jpg

ok
If we take GBP as this truck hanging through the support area. Then you may not notice the big guys behind the truck. They will pull it back! lol
  • #219,031
  • Apr 18, 2010 10:14pm Apr 18, 2010 10:14pm
I'm on a long position here. Will close if the low doesn't hold
  • #219,032
  • Apr 18, 2010 10:26pm Apr 18, 2010 10:26pm
Quoting Togu
Opportinuty to go long from fib 38.2? Any ideas or will it consolidate till EUR session opens?
Hi there, what TF are you using? If you're like me, I'm waiting for at least 3/4 consolidation candles to go long (which means another 4-8 hours)... and if you insist on going long @ that area ( I assume the 38 fibo is the same as mine) you should have proper MM as if that support break, the next support will be at ~1.5165 (~100pips). My point is, if you want to trigger at that point, you must have your exit strategy for that particular trade.
  • #219,033
  • Apr 18, 2010 10:27pm Apr 18, 2010 10:27pm
Quoting Togu
If we take GBP as this truck hanging through the support area. Then you may not notice the big guys behind the truck. They will pull it back! lol
you read the intent of my picture very very correctly every pic i post has a hidden meaning to it
  • #219,034
  • Apr 18, 2010 10:29pm Apr 18, 2010 10:29pm
Quoting Togu
If we take GBP as this truck hanging through the support area. Then you may not notice the big guys behind the truck. They will pull it back! lol
but anyways that truck has suffered major structural damage and not roadworthy any more. the chasis bent in the middle.
  • #219,035
  • Apr 18, 2010 10:40pm Apr 18, 2010 10:40pm
Quoting forexlion
however the major 4 hour trend is to test 5176 zone, which entirely depends on 5266

which means that if 5266 breaks and 5176 is tested i will be targeting 4780 again !!!
leaving pips behind again !!! lol

the 4 hour support is 1.5136
Blogging daily now at www.volume.zone
  • #219,036
  • Apr 18, 2010 11:00pm Apr 18, 2010 11:00pm
Quoting forexlion
but anyways that truck has suffered major structural damage and not roadworthy any more. the chasis bent in the middle.
LoL but your picture is good. I was laughing hard.
  • #219,037
  • Apr 18, 2010 11:01pm Apr 18, 2010 11:01pm
see this
Attached Image (click to enlarge)
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  • #219,038
  • Apr 18, 2010 11:11pm Apr 18, 2010 11:11pm
On 1h it didn't close below the support 38 Fib. On the last minutes it rallied and closed above. Smell something fishy, something is gonna happen soon, or maybe prior Euro openning. Still didn't annitiated my long. Waiting at least 1.5270 area
  • #219,039
  • Apr 18, 2010 11:24pm Apr 18, 2010 11:24pm
Quoting Togu
On 1h it didn't close below the support 38 Fib. On the last minutes it rallied and closed above. Smell something fishy, something is gonna happen soon, or maybe prior Euro openning. Still didn't annitiated my long. Waiting at least 1.5270 area
When do you expect a breakout in any direction?
Do you foresee a larger than usual daily range today?
  • #219,040
  • Apr 18, 2010 11:29pm Apr 18, 2010 11:29pm
pattern crab

GBP,USD h1
Attached Image (click to enlarge)
Click to Enlarge Name: GBP h1.gif Size: 95 KB
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