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Cable Update (GBPUSD)

  • #222,961
  • Apr 30, 2010 6:13am Apr 30, 2010 6:13am
Quoting bbakker
200ma on m1 and 24ma on m5 are the same. If it breaches that with a solid close above it, we will probably be going north again.
You are seeing what I am seeing. If the price still trades above 24 MA on 1 hour chart, the price is going nowhere. But if this thing is broken. Haha. I can see 1.5200 or below today and will be expecting breakout downward on monday and this will still make me hold my short over the weekend. I need this break below than upward. But to be sincere, if cable cann't break it, and I see upward again at 1.5350-1.5370. I will buy and still target 50 pips but if it can come down. HURRAY, 100 pips.
  • #222,962
  • Apr 30, 2010 6:14am Apr 30, 2010 6:14am
Quoting bbakker
200ma on m1 and 24ma on m5 are the same. If it breaches that with a solid close above it, we will probably be going north again.
I have the same method for looking to entry points. If we reach 24MA on 5M we still have on the upside 200MAyesterday's high and 100MA as resistance. The key is in the dollar, USDCHF trying to brake S2, if it happens EURUSD will rally down (stronger dollar) and GU might go along with it.
We got news in an hour and bit more, that will make the direction of the day.
Gut-o-meter: I really like to take this baby down...there's plenty of space to fall...
Food for thought.
  • #222,963
  • Apr 30, 2010 6:15am Apr 30, 2010 6:15am
Quoting tundeakins
You are seeing what I am seeing. If the price still trades above 24 MA on 1 hour chart, the price is going nowhere. But if this thing is broken. Haha. I can see 1.5200 or below today and will be expecting breakout downward on monday and this will still make me hold my short over the weekend. I need this break below than upward. But to be sincere, if cable cann't break it, and I see upward again at 1.5350-1.5370. I will buy and still target 50 pips but if it can come down. HURRAY, 100 pips.

your signature is confusing
  • #222,964
  • Apr 30, 2010 6:17am Apr 30, 2010 6:17am
Quoting A-speculator
oh don't say north yet.. hopefully it will slide down to 5280..
It had to touch the m200 on m1 before any further movement down. Now it has done that we are cleared to go further down. If it breaches 24ma on m5 with a solid close, things won't look so good for the shorts, but hey at least I will made a few green pips rather than a loss!
  • #222,965
  • Apr 30, 2010 6:18am Apr 30, 2010 6:18am
1.5318 proving to be strong support area.
  • #222,966
  • Apr 30, 2010 6:19am Apr 30, 2010 6:19am
Quoting bbakker
It had to touch the m200 on m1 before any further movement down. Now it has done that we are cleared to go further down. If it breaches 24ma on m5 with a solid close, things won't look so good for the shorts, but hey at least I will made a few green pips rather than a loss!
good job bro..

well, my PO is at that price, so hopefully it can get there by today..
  • #222,967
  • Apr 30, 2010 6:20am Apr 30, 2010 6:20am
Using only MA's to show direction today one needs to have a close look at the 24 and 150 on H4 and H1 and one can deduct the reason for the confluence here. H4 is itching to give us a reversal and has been trying since yesterday early AM. Right now PA is stuck between 530 and 539 giving plenty of opportunity to trade the range, one just needs to be mindful anytime PA gets close to either as it will continue to be retested on the slower TF's. 530 is the key as it is the 50 fib level. As long as 539 continues to hold on H1/M30 one can continue to short from those levels for nice little runs down keeping SL's above 539. I am waiting for H4 to make up its mind so far M15 and M30 has been lots of noise since reaching the 61.8 fib level early last evening.
  • #222,968
  • Apr 30, 2010 6:20am Apr 30, 2010 6:20am
Quoting bbakker
It had to touch the m200 on m1 before any further movement down. Now it has done that we are cleared to go further down. If it breaches 24ma on m5 with a solid close, things won't look so good for the shorts, but hey at least I will made a few green pips rather than a loss!
Next 5 min are crucial for the shorts!
  • #222,969
  • Apr 30, 2010 6:22am Apr 30, 2010 6:22am
Quoting bbakker
Next 5 min are crucial for the shorts!
We are heading back to 539 with 53545 being the key.
  • #222,970
  • Apr 30, 2010 6:23am Apr 30, 2010 6:23am
Quoting lexazver
your signature is confusing
Want to know your suggestion about it. Ok. What are you thinking?
  • #222,971
  • Apr 30, 2010 6:26am Apr 30, 2010 6:26am
my mayan calendar make me good 2 swings so im 124pips so far ... good luck to you guys im going to rest ...


as i see the market there wont be more good trades . It's just my view... i think there will be only corrections after the news... so good luck and have a nice day.

P.S Maybe there will be new high with 20points more then will back in range till the end of the day. Have a nice weekend to all
  • #222,972
  • Apr 30, 2010 6:29am Apr 30, 2010 6:29am
Quoting cloggie
We are heading back to 539 with 53545 being the key.
Are you sure? I thought Friday's doesn't do ranging
  • #222,973
  • Apr 30, 2010 6:32am Apr 30, 2010 6:32am
Quoting bbakker
Are you sure? I thought Friday's doesn't do ranging

It is Freaky Friday, anything can happen. That's why I said 53545 is the key here.
  • #222,974
  • Apr 30, 2010 6:33am Apr 30, 2010 6:33am
Quoting bbakker
Are you sure? I thought Friday's doesn't do ranging
babypips.com is a good place to update your knowledge about fridays
  • #222,975
  • Apr 30, 2010 6:34am Apr 30, 2010 6:34am
Quoting Fr3ed0x
my mayan calendar make me good 2 swings so im 124pips so far ... good luck to you guys im going to rest ...


as i see the market there wont be more good trades . It's just my view... i think there will be only corrections after the news... so good luck and have a nice day.

P.S Maybe there will be new high with 20points more then will back in range till the end of the day. Have a nice weekend to all
Would you mind an explanation of your Mayan calendar and how it gives you your entry and exit signals? Just out of interest. Maybe using your trades today as an example?
  • #222,976
  • Apr 30, 2010 6:38am Apr 30, 2010 6:38am
Quoting forexlion
babypips.com is a good place to update your knowledge about fridays
mmmmm.... how about a more direct link, maybe then I might believe you.
  • #222,977
  • Apr 30, 2010 6:39am Apr 30, 2010 6:39am
other time i dont have the time to do it rightnow + i dont have the mood to explain things to people who look on me with sarcasm ...
  • #222,978
  • Apr 30, 2010 6:45am Apr 30, 2010 6:45am
Quoting Fr3ed0x
other time i dont have the time to do it rightnow + i dont have the mood to explain things to people who look on me with sarcasm ...
Sarcasm? It was just a question, just out of interest on how your strategy works with the Mayan calendar. I can give you sarcasm if you so wish
  • #222,979
  • Apr 30, 2010 6:48am Apr 30, 2010 6:48am
15 minute chart with:

10 EMA
25 EMA
50 EMA

10 EMA has just crossed 25 & 50

Going South
  • #222,980
  • Apr 30, 2010 6:49am Apr 30, 2010 6:49am
just a note if the news are bad for usd maybe this will be the new top for today witch will be the last i think the scenario is something like that

BUY @ 1.53356

1st target 1.53773 15:30 - 16:30
2nd target 1.53990 16:30 - 18 - 18:30-45

im not sure please dont use this for buy signal or something ... this is just my point of view wich i make for 3-4 minutes rightnow so i think it wont be very accurate.

SELL scenario will reach 1.52800
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