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Cable Update (GBPUSD)

  • #230,961
  • Jun 9, 2010 11:32pm Jun 9, 2010 11:32pm
magix, it seems to want to bounce off the 24sma and upwards again... we'll see
  • #230,962
  • Jun 9, 2010 11:35pm Jun 9, 2010 11:35pm
Quoting joemiami
magix, it seems to want to bounce off the 24sma and upwards again... we'll see
I used to try and erase the lines to see if it would help me with my trades...Never worked for me, but you should giver a whirl!

Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #230,963
  • Jun 9, 2010 11:35pm Jun 9, 2010 11:35pm
Quoting Magix
Still seeing support currently on the M30...sitting flat right now myself...

I have a feeling that we are targeting the M30 to possible play through confirmation but haven't seen the movement to be all that convinced just yet.

IF we retrace the 30m, support is crucial or we could see lower lows....
yeh its a level from bigger picture (4 hour).
that is holding it back.
nice analysis
good trading see you next time all(may be tonight uk time)
regards
sho
Attached Image (click to enlarge)
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  • #230,964
  • Jun 10, 2010 12:10am Jun 10, 2010 12:10am
My Chart Update
http://www.forexfactory.com/showthre...66#post3791666
  • #230,965
  • Jun 10, 2010 12:52am Jun 10, 2010 12:52am
Attached Image (click to enlarge)
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  • #230,966
  • Jun 10, 2010 12:56am Jun 10, 2010 12:56am
Quoting AmritsarFx
I have a sell order @ 4606, with a target of 4507

1 hour and 4 hour, seem to be badly overbought

I can be wrong, or right, god knows.
Order opened @ 4606

moved target to 4550, just above day open

should hit on the current eur news, will not trade after that till UK rate news are out

After UK rate news, I expect this to continue with the uptrend to 4750 zone
  • #230,967
  • Jun 10, 2010 12:56am Jun 10, 2010 12:56am
well i have been predicting the bottoms and tops by my self for quite a long time, will see if it continue to work if i write it here.

the top for today is 1.4618 +/- 3 pips

the bottom of today is 1.4487 +/- 3 pips.

by the way this is my first post here.

regards
  • #230,968
  • Jun 10, 2010 1:28am Jun 10, 2010 1:28am
Quoting Theo
well i have been predicting the bottoms and tops by my self for quite a long time, will see if it continue to work if i write it here.

the top for today is 1.4618 +/- 3 pips

the bottom of today is 1.4487 +/- 3 pips.

by the way this is my first post here.

regards
Welcome to the asylum!

Never hurts when you are shouting out numbers to throw in a chart or two to support your reasoning.

The more we can see, the more we can understand.

Seeing that you are bullish on the day for Cable...goes to reason with the support levels found and a little strength off bottom. We are currently holding support, but doesn't seem to be a lot of pressure from either direction and we do seem smack dab at topside resistance...

This one almost seems a coin toss...

Guess time will be the teller....

Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #230,969
  • Jun 10, 2010 1:29am Jun 10, 2010 1:29am
Opened a short position @1.46115
Looking for a close in the area 1.45458-1.45158.

Between:
The cable should correct the dubble top (fake breakout @1.4620) asap.
If he doesn´t we will run back to daily low @1.45088

Happy pipping
  • #230,970
  • Jun 10, 2010 1:29am Jun 10, 2010 1:29am
i see 1.5000 on cable in the near future .......... 2 to 10 days.

http://img.dailymail.co.uk/i/pix/200...ll_468x317.jpg
  • #230,971
  • Jun 10, 2010 1:34am Jun 10, 2010 1:34am
A little early off the top retrace indicated on the charts. Seem to have lost a little support and still thinking we hit towards the 200EMA on the 30m chart.

Been a painfully boring London session so far, would like to see a little more mo in the momo...

Might just shut er down for the evening and see whatsa shaking come NY...

Current M30 with early indicators.
Attached Image (click to enlarge)
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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #230,972
  • Jun 10, 2010 1:38am Jun 10, 2010 1:38am
I know i got late in getting into this ... Just was not at my seat during london open...
1Hour chart is giving heavy bearish signals ... even a pin bar at 4hour chart ..

Short with take profit 4470....

cheers !!
  • #230,973
  • Jun 10, 2010 1:46am Jun 10, 2010 1:46am
Can we expect a wave 3 here or its flawed. any suggestions?
Attached Image (click to enlarge)
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  • #230,974
  • Jun 10, 2010 1:56am Jun 10, 2010 1:56am
Quoting Magix
Seeing that you are bullish on the day for Cable...
Isn't his call bearish since we touched that "high of the day" price already during the LO hour?
  • #230,975
  • Jun 10, 2010 1:57am Jun 10, 2010 1:57am
Quoting newbie_fx
Can we expect a wave 3 here or its flawed. any suggestions?
this is what i see on 4 hour cable

i will not trade till after UK news though

http://img819.imageshack.us/img819/2959/get.gif
  • #230,976
  • Jun 10, 2010 2:02am Jun 10, 2010 2:02am
Quoting sinner-
Isn't his call bearish since we touched that "high of the day" price already during the LO hour?
Well sinner...

I sees it like this.

As this is his first post, he might have attempted to throw it into the mash anywhere from 5 minutes - 8 hours ago.

The points I was trying to make...

1. Welcome to the board.
2. Couldn't hurt to post a chart.

But givens that his post arrived when price was within some reasonable target area at current, I guessed it as a bull..

Cripes, maybe my bad....
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #230,977
  • Jun 10, 2010 2:08am Jun 10, 2010 2:08am
I never trade any other than wave 3 and it must begin with a thrust candle which takes out major S/R. Other than that no trades. As the name suggests still learning though.
Thank you.
  • #230,978
  • Jun 10, 2010 2:09am Jun 10, 2010 2:09am
Quoting newbie_fx
I never trade any other than wave 3 and it must begin with a thrust candle which takes out major S/R. Other than that no trades. As the name suggests still learning though.
Thank you.
Care to show an example of your system there?
Every time you use 'hopium' in a post, God kills a kitten.
  • #230,979
  • Jun 10, 2010 2:10am Jun 10, 2010 2:10am
NY session yesterday which was largely downbeat as BP's share price continued to come under pressure was reversed during Asia hours as the Antipodeans led the way.

Hawkish RBNZ and buoyed Australian employment numbers (along with upward revision in Japans GDP and higher than expected China trade balance) have led Asian stocks higher. In turn cable has rallied significantly and sits just below good resistance around 1.4610. On the downside 1.4510 and 1.4460 will act as support.

The cross has been sidelined but has now found support in the 0.8230 area. 12pm sees the BoE announcement which should be a rather muted event with the emergency budget being released in less than 2 weeks. All eyes today will be on the ECB announcement and more importantly, the announcement of new liquidity measures.
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  • #230,980
  • Jun 10, 2010 2:11am Jun 10, 2010 2:11am
cable Now

http://www.forexfactory.com/showthre...07#post3791907
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