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Cable Update (GBPUSD)

  • #242,961
  • Aug 4, 2010 12:58am Aug 4, 2010 12:58am
Quoting fxoxford
one thing we do know is that the trend is up, my t/p is at 1.6087, good luck to you to
yep, close above 1.5960 , heading 1.6101. Take a look how she act at daily pivot
  • #242,962
  • Aug 4, 2010 1:00am Aug 4, 2010 1:00am
Quoting fxoxford
one thing we do know is that the trend is up, my t/p is at 1.6087, good luck to you to
yes we do know that the overall sentiment is bullish and that the trend is indeed up on t/f's 4hr +...but on 1hr and down per overall price action-peak/valley analysis, price has been ranging/consolidating just off the highs since yesterdays Hi that on 1hr t/f for eg being a HH, then on same 1hr t/f printing a L, LH, L, H, Hl, HH, and a L at today's current Lo
ex member
  • #242,963
  • Aug 4, 2010 1:02am Aug 4, 2010 1:02am
Services PMI.. my guess looking at previous and forcast. Is the number may probably be good. If its so maybe we are all good for uptrend until USD news today.

I'm targetting 1.5990 before USD news. which is a good probability for a new high.
To Your Success!!
  • #242,964
  • Aug 4, 2010 1:04am Aug 4, 2010 1:04am
Quoting wormboy
welcome to asia.
look at the bright side. at least you get to trade london open - close & go to bed like a normal human being
some people have all the luck , lol, how goes it wormie , green I hope
  • #242,965
  • Aug 4, 2010 1:05am Aug 4, 2010 1:05am
Quoting fxoxford
we don't want 1.5885 to get hit, then we might be looking at a downtrend, lets see what happens.
i still have an open eye on this price.
  • #242,966
  • Aug 4, 2010 1:09am Aug 4, 2010 1:09am
At the trend highs yesterday, ie 5964 area is that 61.8% fib of the 2009 Hi - 2010 current Lo 7044-4229 with Monthly R1 pivot around 5968.

This very site rates the upcoming Uk Services PMI as potentially 'Low impact' data.

Time will tell.

G/L
ex member
  • #242,967
  • Aug 4, 2010 1:09am Aug 4, 2010 1:09am
Quoting bbmac
yes we do know that the overall sentiment is bullish and that the trend is indeed up on t/f's 4hr +...but on 1hr and down per overall price action-peak/valley analysis, price has been ranging/consolidating just off the highs since yesterdays Hi that on 1hr t/f for eg being a HH, then on same 1hr t/f printing a L, LH, L, H, Hl, HH, and a L at today's current Lo
ok
Attached Image (click to enlarge)
Click to Enlarge Name: Chart.PNG Size: 55 KB
  • #242,968
  • Aug 4, 2010 1:11am Aug 4, 2010 1:11am
Quoting digger1
learning to draw trendlines and channels helps with some entries , you can see there was a failure of a trendline that had been working for a day or so , after it fell thru it the retest of tht trendline led to a decnt trade , chart for you to look at. Attachment
Hi Digger,
Thank you. I cant email you my chart as its on esignal on my windows PC & I am talking to you on my Mac !!

I am drawing trend lines on a 5 min chart (downtrend from 02.45 uk to 05.55 then up channel from 7am to 8am when it broke back through. Just started to clam down after 10 weeks of being a kid in a sweet shop and trading without thinking too much. Really appreciate you responding. I have been following you and others for several weeks now & fully respect your comments,charts etc
Thanks again

Just seen your chart low today is 5 points higher then mine ! is that common among different chart companies
  • #242,969
  • Aug 4, 2010 1:14am Aug 4, 2010 1:14am
Quoting special0nefx
yep, close above 1.5960 , heading 1.6101. Take a look how she act at daily pivot
so far so good, keep an open mind tho, and other words don't get marry to one direction forex will divorce you in a min and take your money , keep up the good work
  • #242,970
  • Aug 4, 2010 1:17am Aug 4, 2010 1:17am
Quoting Bobbyboy
Hi Digger,
Thank you. I cant email you my chart as its on esignal on my windows PC & I am talking to you on my Mac !!

I am drawing trend lines on a 5 min chart (downtrend from 02.45 uk to 05.55 then up channel from 7am to 8am when it broke back through. Just started to clam down after 10 weeks of being a kid in a sweet shop and trading without thinking too much. Really appreciate you responding. I have been following you and others for several weeks now & fully respect your comments,charts etc
Thanks again
No problem man , start simple , try a few different things , but trendlines and channels , you learn to get them drawn right and pay attention to them they will treat you well a few moving averages in the mix also helps , cheers
  • #242,971
  • Aug 4, 2010 1:17am Aug 4, 2010 1:17am
Quoting digger1
some people have all the luck , lol, how goes it wormie , green I hope
hi dig

you should move out here
yea green, but only on dragon. I swear that pair had been a lot easier to trade since last week. maybe i'm paranoid
Here's another my being lucky. Hope you are too

dragon:
1. http://www.forexfactory.com/showpost...stcount=230163
2. http://www.forexfactory.com/showpost...stcount=230201
Thank You
  • #242,972
  • Aug 4, 2010 1:17am Aug 4, 2010 1:17am
The 1hr screenshot below shows the near-term previous obvious imbalances of demand/supply and supply/demand represented by fractal swing hi/lo's on that t/f...some of which co-exist as such on 4hr...there are fibs on there too from main 1hr swings to yesterday's Hi..

Yesterday's lo was at the 76.4% of it's Lo-Hi,. 5767-58 contains 3 x fibs, those 2 shown as well as 23.6% of 5122-5968 (yday's hi) ...a 4hr swing. Similarly 5648-43 contains the 2 x fibs shown as well as 38.2% of said move...ie 2 x 3 fib clusters that may or may not prove to be important ?

G/L
Attached Image (click to enlarge)
Click to Enlarge Name: z.gif Size: 13 KB
ex member
  • #242,973
  • Aug 4, 2010 1:18am Aug 4, 2010 1:18am
Quoting fxoxford
so far so good, keep an open mind tho, and other words don't get marry to one direction forex will divorce you in a min and take your money , keep up the good work
yup, agree with you don't get marry one direction . We reach junction , follow the flow only. Please Remember and don't do that
Attached Image
  • #242,974
  • Aug 4, 2010 1:20am Aug 4, 2010 1:20am
where is cable headed

just sitting on the fence for too long
  • #242,975
  • Aug 4, 2010 1:20am Aug 4, 2010 1:20am
Quoting special0nefx
yup, agree with you don't get marry one direction . We reach junction , follow the flow only. Please Remember and don't do that
  • #242,976
  • Aug 4, 2010 1:22am Aug 4, 2010 1:22am
Quoting forexlion
where is cable headed

just sitting on the fence for too long
' Flat ' is a position, We go long in the right PA circumstances, Short in the Right PA circumstances and stay 'Flat if the right PA circumstances are not present on the t/f's of interest to us ?

G/L
ex member
  • #242,977
  • Aug 4, 2010 1:22am Aug 4, 2010 1:22am
anybody got jumper cables, this mofo needs a jump bad
  • #242,978
  • Aug 4, 2010 1:24am Aug 4, 2010 1:24am
Quoting wormboy
hi dig

you should move out here
yea green, but only on dragon. I swear that pair had been a lot easier to trade since last week. maybe i'm paranoid
Here's another my being lucky. Hope you are too

dragon:
1. http://www.forexfactory.com/showpost...stcount=230163
2. http://www.forexfactory.com/showpost...stcount=230201
lol dragon has been kind and easy , quite a few hours there evertime it got to the 5 min 200 it was time to load up again , gbpusd shting you just have to take your profit quicker lol, all is good bro
  • #242,979
  • Aug 4, 2010 1:24am Aug 4, 2010 1:24am
Quoting fxoxford
anybody got jumper cables, this mofo needs a jump bad
in 6min we should be jumping
  • #242,980
  • Aug 4, 2010 1:25am Aug 4, 2010 1:25am
Quoting forexlion
where is cable headed

just sitting on the fence for too long
yeah baby still flat
Attached Image
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