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Cable Update (GBPUSD)

  • #231,001
  • Jun 10, 2010 7:24am Jun 10, 2010 7:24am
I will be short from 1.4549 and riding to 1.41xx so long as 1.4645 holds as the top.
  • #231,002
  • Jun 10, 2010 7:29am Jun 10, 2010 7:29am
There is confluence of trend lines but the upcoming news will make or break the day. Break of previous wave high/low will trigger wave 3 in either direction.
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  • #231,003
  • Jun 10, 2010 7:44am Jun 10, 2010 7:44am
Im looking to short cable if i get a close below 1.4585 down to 1.4525 zone. My view on cable is still bearish. Any suggestions?
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Numbers NEVER Lie
  • #231,004
  • Jun 10, 2010 7:46am Jun 10, 2010 7:46am
in my opinion the price will go down to 1.4576 region before go up
its level 50 of fibo, and hit the down border of uptrend channel

maybe the price brake it and hit the level 61 of fibo (second time to buy) but i dont believe it will be broke

first target 1.4612 (level 23 of fibo)
second target, near up border of channel
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  • #231,005
  • Jun 10, 2010 7:49am Jun 10, 2010 7:49am
Quoting ZizoFX
Im looking to short cable if i get a close below 1.4585 down to 1.4525 zone. My view on cable is still bearish. Any suggestions?

short below 1.4550 I don't think 1.4525 will hold at all, cable still needs to visit the 1.41xx area imo
  • #231,006
  • Jun 10, 2010 8:00am Jun 10, 2010 8:00am
Flow info on cable notoriously hard to obtain over the last couple of weeks.

Gerry of forexlive writes earlier:
Hearing BIS was seen on the offer in cable earlier today up at 1.4640/50. More sell orders noted up at 1.4690/00, stops just above.

Can't seem to view the SWFX liquidity provider sentiment currently. So that's all we have to go on for now.
  • #231,007
  • Jun 10, 2010 8:17am Jun 10, 2010 8:17am
The cable i am trading can only see a retracement but never a new low, i have an open long to close only after fridays trade. No sentiment check my post this morning.

Good luck yal.


Quoting ZizoFX
Im looking to short cable if i get a close below 1.4585 down to 1.4525 zone. My view on cable is still bearish. Any suggestions?
  • #231,008
  • Jun 10, 2010 8:19am Jun 10, 2010 8:19am
I have been Beaten, rediculed and insulted, But to sit back and watch the price go diligently in my direction, makes it all worthwhile.

Jim
  • #231,009
  • Jun 10, 2010 8:23am Jun 10, 2010 8:23am
Look for 4 hr reversal in the coming days and the Daily will be next.

Jim

Quoting Nene
I have been Beaten, rediculed and insulted, But to sit back and watch the price go diligently in my direction, makes it all worthwhile.

Jim
  • #231,010
  • Jun 10, 2010 8:28am Jun 10, 2010 8:28am
Quoting baruch
in my opinion the price will go down to 1.4576 region before go up
its level 50 of fibo, and hit the down border of uptrend channel

maybe the price brake it and hit the level 61 of fibo (second time to buy) but i dont believe it will be broke

first target 1.4612 (level 23 of fibo)
second target, near up border of channel
well... 60 pips and im out

theres a divergence with stochastic... maybe a good fall now?
  • #231,011
  • Jun 10, 2010 8:31am Jun 10, 2010 8:31am
chat update
http://www.forexfactory.com/showthre...=1#post3792541
  • #231,012
  • Jun 10, 2010 8:42am Jun 10, 2010 8:42am
I am posting a template called as FX profit machine

it has a three pocket envelope
OBOS window
buy sell indicator
MFI, RSI and %R

along with this you can get MACD and Stoc also attached

For me it really works for long term perspective D1

M15 is also gud

am also postin a screen shot how it looks like
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Attached File(s)
File Type: zip fxprofitmachine.zip   662 KB | 589 downloads
  • #231,013
  • Jun 10, 2010 9:36am Jun 10, 2010 9:36am
good morning everyone, looks about time to drive that pound down to 4590-4570 area

short at 4647
  • #231,014
  • Jun 10, 2010 9:39am Jun 10, 2010 9:39am
I put the yellow boxes in this chart yesterday prior to the first box. Not a perfect plan, but certainly profitable. For reasons I now understand, I did not follow my own plan. Less the richer, but more the wiser. I'm sharing in the hope others might avoid a similar experience.
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The market is always right.
  • #231,015
  • Jun 10, 2010 9:51am Jun 10, 2010 9:51am
Is this uTL the end of short covering here? 4650 ish is key, if that holds we go back to 4585 ish. if it goes, 474 ish is next.
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  • #231,016
  • Jun 10, 2010 9:52am Jun 10, 2010 9:52am
Quoting wormboy
New high printed since June the 4th. All we need now is for price to close cleanly above the desc utl to confirm continuation.
Good luck.
yeeeee and we finally have the confirmed close outside the desc utl.
Looks like bullish continuation. 4729 is the next upside target once price clears current resistance.

Good luck.
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Thank You
  • #231,017
  • Jun 10, 2010 10:08am Jun 10, 2010 10:08am
hey worm... that "rising tree" works?
i see it a lot, but never paid atention
  • #231,018
  • Jun 10, 2010 10:11am Jun 10, 2010 10:11am
i see a drop on the next 10 to 30 pips from 14675
Verily, in every difficulties there is relief
  • #231,019
  • Jun 10, 2010 10:26am Jun 10, 2010 10:26am
Quoting baruch
hey worm... that "rising tree" works?
i see it a lot, but never paid atention
hi baruch,

yea the rising three. Sure they work, I posted them earlier before they moved!
1. http://www.forexfactory.com/showpost...stcount=231007
2. http://www.forexfactory.com/showpost...stcount=231011

Problem is most people don't know basic candlestick. Best pay attention & know your candles buddy, they're a lot more powerful than most indicators because each of those formation represents current price action. They just have some exotic names to spook people out lol.

Have a good one!
Thank You
  • #231,020
  • Jun 10, 2010 10:27am Jun 10, 2010 10:27am
Quoting Nene
I have been Beaten, rediculed and insulted, But to sit back and watch the price go diligently in my direction, makes it all worthwhile.

Jim
Yes, the Actual IS so much like the last chart you posted...

1. Your last chart...
2. Current
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