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Cable Update (GBPUSD)

  • #222,461
  • Apr 29, 2010 4:51am Apr 29, 2010 4:51am
Quoting cloggie
And look at your 25ma on M5, that is still telling you we are consolidating with a slight bias to the upside. Then look at the 25ma on M15 together with the 150ma that is telling you also that a short is not valid yet. Then put up a lTL on M15 and you will see where the break needs to be for a short. Then keep an eye on the SR's of H1 and your plan is set. Eyes on 5206 and 5243 for a definitive break all else is scalping.

Simples.
Hi Cloggie,
Agree with your price levels. I see a possible test of 1.5256 (r1) before any bear moves. SLs have to big this morning and lot sizes reduced.
Psychologically its a difficult time to trade with the supposed bad news for GB, end of month, election and a bank holiday Monday next week. Many big boys will be looking for some quick money in the next day or so.

Dazzer
  • #222,462
  • Apr 29, 2010 4:51am Apr 29, 2010 4:51am
Quoting cloggie
And look at your 25ma on M5, that is still telling you we are consolidating with a slight bias to the upside. Then look at the 25ma on M15 together with the 150ma that is telling you also that a short is not valid yet. Then put up a lTL on M15 and you will see where the break needs to be for a short. Then keep an eye on the SR's of H1 and your plan is set. Eyes on 5206 and 5243 for a definitive break all else is scalping.

Simples.
gotcha, Dont have a upper break target as I'm not confident enough that the greece and PIGS are over, Hung parliament and UK problems... My MA's are busy catching up and given a few more minutes, I could have a entry on break of 06... targeting 30...
@pawpaw1000 on Twitter
  • #222,463
  • Apr 29, 2010 5:00am Apr 29, 2010 5:00am
Quoting lexazver
closed 1/2 of my long from yesterday (1.5160) At 1.5236 (+76) set stop on the rest at 1.5135 (-25)

I see it going to 1.56 but need to wait for daily closes for confirmation

after 1.56 probably back down to 1.5...

Also euro could reach 1.33 today judging by PA
Dilemma, dilemma...if it goes to 1.5400 also is good enough already...
  • #222,464
  • Apr 29, 2010 5:03am Apr 29, 2010 5:03am
[quote=pawpaw1000;3682610]
Quoting A-speculator

you need another 2 vouches before you can vouch for someone else...
That's too bad then.. But Malc, keep up the good work!
  • #222,465
  • Apr 29, 2010 5:05am Apr 29, 2010 5:05am
Careful with the shorts if we break R1. The last H4 closed very bullish and the attached s&r lines are still in play (unlike the aforementioned H&S).

Dazzer
Attached Image (click to enlarge)
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  • #222,466
  • Apr 29, 2010 5:07am Apr 29, 2010 5:07am
Quoting cloggie
And look at your 25ma on M5, that is still telling you we are consolidating with a slight bias to the upside. Then look at the 25ma on M15 together with the 150ma that is telling you also that a short is not valid yet. Then put up a lTL on M15 and you will see where the break needs to be for a short. Then keep an eye on the SR's of H1 and your plan is set. Eyes on 5206 and 5243 for a definitive break all else is scalping.

Simples.

Above still in play, there is a bias to the upside on M5 and M15, we had a close on M30 above 5243, eyes now on 5281. M5 bounced of the 25ma like a wet cat of an electric fence. Range now 5243-5281
  • #222,467
  • Apr 29, 2010 5:10am Apr 29, 2010 5:10am
price being held for now by 1st fibo .. was tempted to close there but upward momentum is quite strong still.
Attached Image (click to enlarge)
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  • #222,468
  • Apr 29, 2010 5:10am Apr 29, 2010 5:10am
EU Commission: Rehn to make statement on Greece around 11:15 BST.
  • #222,469
  • Apr 29, 2010 5:12am Apr 29, 2010 5:12am
The pullbacks are finding demand in this run up so far as price reaches the 38.2% of 5487-5124 with 61.8% 5325-5124.

G/L

http://i39.tinypic.com/23j6c0g.jpg
ex member
  • #222,470
  • Apr 29, 2010 5:15am Apr 29, 2010 5:15am
Quoting cloggie
OK, let's see where we go from here. IF this holds, back down to 5125
I do agree 5250 is a support turned resistance but I think the critical level is at about 5350 (does this ring a bell?)
  • #222,471
  • Apr 29, 2010 5:16am Apr 29, 2010 5:16am
From Mondays high to yesterdays low we just bounced off the .38 fib to the pip creating what could be another shooting star on the M30.
  • #222,472
  • Apr 29, 2010 5:16am Apr 29, 2010 5:16am
Quoting cloggie
Above still in play, there is a bias to the upside on M5 and M15, we had a close on M30 above 5243, eyes now on 5281. M5 bounced of the 25ma like a wet cat of an electric fence. Range now 5243-5281
jip, my MA's have caught up a bit but still looking very bullish on m5 but if we close below my 200ema on m15 I might look for a entry depending on m5...
@pawpaw1000 on Twitter
  • #222,473
  • Apr 29, 2010 5:17am Apr 29, 2010 5:17am
Quoting A-speculator
I do agree 5250 is a support turned resistance but I think the critical level is at about 5350 (does this ring a bell?)

5243 was my target from last night, we have moved on from there. See my posts since for my plan.
  • #222,474
  • Apr 29, 2010 5:19am Apr 29, 2010 5:19am
abit of topic, i see potential scenario on EURGBP which would either mean Euro rising quicker than pound or falling slower given todays PA i say the former.

of yeah and the chart
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  • #222,475
  • Apr 29, 2010 5:20am Apr 29, 2010 5:20am
Men, I still believe this thing is going up. I am happy going long now despite coming late to the market. Well, my own resistance is the 200 ema on 1 hour time frame still looking at 80 pips. Not bad. Haha.

I believe that if the price hit 1.5187 then it will continue going down. Then I can short. Long, Long. Don't try to be smart than the trend OK.
  • #222,476
  • Apr 29, 2010 5:21am Apr 29, 2010 5:21am
update no break no shack
Attached Image (click to enlarge)
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  • #222,477
  • Apr 29, 2010 5:23am Apr 29, 2010 5:23am
Quoting tundeakins
Men, I still believe this thing is going up. I am happy going long now despite coming late to the market. Well, my own resistance is the 200 ema on 1 hour time frame still looking at 80 pips. Not bad. Haha.

I believe that if the price hit 1.5187 then it will continue going down. Then I can short. Long, Long. Don't try to be smart than the trend OK.
Depends on the TF. My TF says short and this is a rally in a bear market. Having said that, volume is drying on the M5 with these down bars.

Dazzer
  • #222,478
  • Apr 29, 2010 5:27am Apr 29, 2010 5:27am
Quoting Dazzer
Depends on the TF. My TF says short and this is a rally in a bear market. Having said that, volume is drying on the M5 with these down bars.

Dazzer

My key here is the apparant rejection of 5243, I am giving it some time before I change my bias to bearish for today. Yes H1 and above are still bearish, M30 and below are bullish. Once they all line up again we will see 1.51. Untill then one needs to judge the end or continuation of the retrace. We have seen a few more honorary members of the smelly fingers brigade so far with the fake outs. I will keep mine clean as always.
  • #222,479
  • Apr 29, 2010 5:27am Apr 29, 2010 5:27am
Quoting TheCatsPJs
Well i think ill be safe if 5230 holds fingers crossed
sure

http://img521.imageshack.us/img521/9379/pajamas.jpg
  • #222,480
  • Apr 29, 2010 5:28am Apr 29, 2010 5:28am
Quoting lexazver
abit of topic, i see potential scenario on EURGBP which would either mean Euro rising quicker than pound or falling slower given todays PA i say the former.

of yeah and the chart
I have bearish sentiment for that pair.. Well, I might be wrong..

This is because, most of the time (not all of the time), wedge formation at the upper level have the tendency to break to the downside.. imho
Attached Image (click to enlarge)
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