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Cable Update (GBPUSD)

  • #231,941
  • Jun 16, 2010 5:09pm Jun 16, 2010 5:09pm
Quoting Forextrader4
That's why i posted right after that because when i looked at the 4hours chart it broke the trendline and the right setup for a short is valid. So at this point i believe we will have a continuation to the downside.

mmm, do not see a post from you after the one I'm refering to, but that aside I really question the way you are drawing trendlines......
Don't be a hero. Don't have an ego. Always question yourself
  • #231,942
  • Jun 16, 2010 5:16pm Jun 16, 2010 5:16pm
Why sell so low?

Also keep in mind s&p did not fall so much it`s @ 1107 right now.

Also only GU fell... also Asia was up past 5 days... eu still above 2300 and so on.

Also all currencies are close to the pivots(except pound), nothing preventing them from jumping above like in the past days.

Not saying you are wrong, but keep those in mind.
  • #231,943
  • Jun 16, 2010 5:16pm Jun 16, 2010 5:16pm
Quoting USD-Bear
mmm, do not see a post from you after the one I'm refering to, but that aside I really question the way you are drawing trendlines......
why is that?
  • #231,944
  • Jun 16, 2010 5:18pm Jun 16, 2010 5:18pm
My chart tells me we are still on an upward correction. If upward channell brakes, I'll enter short for a retest of the previous downward chanell. Bumps on the way: 100 and 200 MA (bkue and green lines). If we continue north 4854 fibo level we'll be retested, if brakes I see a retest of black UTL.
Flat ATM, don't like to trade this hours. Waiting to see how pairs behave. Today's been a weird day.
Hope this helps, G/L everyone!
Attached Image (click to enlarge)
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  • #231,945
  • Jun 16, 2010 5:21pm Jun 16, 2010 5:21pm
Quoting Forextrader4
why is that?
Just taking 2 bottoms somewhere and drawing a line beneath them doesn't make it a relevant TL
Don't be a hero. Don't have an ego. Always question yourself
  • #231,946
  • Jun 16, 2010 5:24pm Jun 16, 2010 5:24pm
Quoting Naseri13
Dear brother , I did not used any chart also
I saw the last candle stick in chart H1 and H4 also...
Then I heard a sound that Buy Pound Now , You should buy..
The voice was so hurroble but I bought some for fun.
better take your med soon buddy, I reckon the voices inside your head will get louder

Anyway, I don't trade for fun from a live account.
I'm already holding short & reckon I might be able to hold em for a lower level after the gbplfx had closed below the weekly pivot.
Attached Image (click to enlarge)
Click to Enlarge Name: gb.gif Size: 27 KB
Thank You
  • #231,947
  • Jun 16, 2010 5:28pm Jun 16, 2010 5:28pm
Quoting wormboy
better take your med soon buddy, I reckon the voices inside your head will get louder

Anyway, I don't trade for fun from a live account.
I'm already holding short & reckon I might be able to hold em for a lower level after the gbplfx had closed below the weekly pivot.
Still not 100% convinced (just cause it's cable...lol) but thinking like you as always brother..

http://www.forexfactory.com/showpost...postcount=1446

http://www.forexfactory.com/showpost...postcount=1448

Love to see my Daily close below at least 4727 ....Better 4700
Ghost Rider - WWTBMD?
  • #231,948
  • Jun 16, 2010 5:36pm Jun 16, 2010 5:36pm
Quoting wormboy
better take your med soon buddy, I reckon the voices inside your head will get louder

Anyway, I don't trade for fun from a live account.
I'm already holding short & reckon I might be able to hold em for a lower level after the gbplfx had closed below the weekly pivot.
This is a good chart man! I also see we have room to go on the downside. Could you upload this chart with daily pivots please?? I would like to see those levels. Tks in advance!
  • #231,949
  • Jun 16, 2010 5:36pm Jun 16, 2010 5:36pm
Quoting albchr
Still not 100% convinced (just cause it's cable...lol) but thinking like you as always brother..

http://www.forexfactory.com/showpost...postcount=1446

http://www.forexfactory.com/showpost...postcount=1448

Love to see my Daily close below at least 4727 ....Better 4700
nice one bro
I am convinced however we'll see past the monthly pivot & probably end up testing 4550 level before friday close. These d1 patterns very rarely fails tbh.

Let's see how it goes. Good luck!
Thank You
  • #231,950
  • Jun 16, 2010 5:37pm Jun 16, 2010 5:37pm
Quoting USD-Bear
Just taking 2 bottoms somewhere and drawing a line beneath them doesn't make it a relevant TL
Those line don't necessarily represent the overall trend, they just represent the last big swings which helps determine the direction of the price and reversal occurrence.
  • #231,951
  • Jun 16, 2010 5:37pm Jun 16, 2010 5:37pm
GU has been in long term downtrend channel that was established from mid 2009. Cable can reach a high of 1.5470 as of today,utl, one month later this high could be 1.5060 ...chart attached.

2nd chart - Today we bounced off the the little ltl inside this channel at 1.4704. Funny this was also the 1440 ema on the 5m chart. we did not break any of these as of right now so i wouldn't go short. On the same chart today's high can be 1.4880

GL
Attached Image(s) (click to enlarge)
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  • #231,952
  • Jun 16, 2010 5:41pm Jun 16, 2010 5:41pm
Quoting maurofx
This is a good chart man! I also see we have room to go on the downside. Could you upload this chart with daily pivots please?? I would like to see those levels. Tks in advance!
you're welcome.

the daily is on the chart, to the right. Not properly labelled tho sorry.
Here it is, re labelled.

Have a good one
Attached Image (click to enlarge)
Click to Enlarge Name: gb.gif Size: 27 KB
Thank You
  • #231,953
  • Jun 16, 2010 5:43pm Jun 16, 2010 5:43pm
Quoting Forextrader4
Those line don't necessarily represent the overall trend, they just represent the last big swings which helps determine the direction of the price and reversal occurrence.
Bullshit, from where your LTL starts, there are 3 directions (later bottoms) to choose from, why is the middle one you choosed so important?
Don't be a hero. Don't have an ego. Always question yourself
  • #231,954
  • Jun 16, 2010 5:46pm Jun 16, 2010 5:46pm
Quoting wormboy
nice one bro
I am convinced however we'll see past the monthly pivot & probably end up testing 4550 level before friday close. These d1 patterns very rarely fails tbh.

Let's see how it goes. Good luck!
Yeah, I was thinking that as well roughly 11 hours ago...lol

http://www.forexfactory.com/showpost...postcount=1437
Ghost Rider - WWTBMD?
  • #231,955
  • Jun 16, 2010 5:56pm Jun 16, 2010 5:56pm
Quoting wormboy
you're welcome.

the daily is on the chart, to the right. Not properly labelled tho sorry.
Here it is, re labelled.

Have a good one
Nice to see that. Seems there's a lot of resistance on the upside. Few pips above daily Pivot i would draw a resistance line on the previous two lows yu labelled an arrow on... hoping to see more south movement today. I'll be bothering you in a couple of hours with a chart update mate!!! Tks for your time!!
  • #231,956
  • Jun 16, 2010 5:59pm Jun 16, 2010 5:59pm
Quoting USD-Bear
Bullshit, from where your LTL starts, there are 3 directions (later bottoms) to choose from, why is the middle one you choosed so important?
Hahaha why would i bullshit about something i'm writing on a damn forum? Lmao
  • #231,957
  • Jun 16, 2010 6:01pm Jun 16, 2010 6:01pm
Quoting Forextrader4
Hahaha why would i bullshit about something i'm writing on a damn forum? Lmao
This discussion doesn't serve any purpose, end of it....
Don't be a hero. Don't have an ego. Always question yourself
  • #231,958
  • Jun 16, 2010 6:06pm Jun 16, 2010 6:06pm
Quoting USD-Bear
This discussion doesn't serve any purpose, end of it....
I couldn't agree more.
  • #231,959
  • Jun 16, 2010 6:09pm Jun 16, 2010 6:09pm
Quoting Naseri13
Dear brother , I did not used any chart also
I saw the last candle stick in chart H1 and H4 also...
Then I heard a sound that Buy Pound Now , You should buy..
The voice was so hurroble but I bought some for fun.
http://www.forexrainbow.com/files/18...2sipxp0v3h.jpg

Can You underestand my chart?

http://www.forexrainbow.com/files/bo...lr52q7wir6.jpg
A little beginner trader since 2006
  • #231,960
  • Jun 16, 2010 6:20pm Jun 16, 2010 6:20pm
There goes the retrace of the price before continuation to the downside.
Attached Image (click to enlarge)
Click to Enlarge Name: gbp3.gif Size: 28 KB
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