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Cable Update (GBPUSD)

  • #243,301
  • Aug 4, 2010 7:54pm Aug 4, 2010 7:54pm
Quoting posterboy
ok so you would be saying we might get a fake ip breakout at 5970 and could retrace to no mans land area at around 750 650 and shoot again...

Did i say it correctly...all depend on Pa no picking tops and botts..right
pa now at 5910 hmm stupid question worth trying with a stop below 874 or 860
i am saying wave 3 should complete at around 1.5970 & wave 4 should go down to around 1.5650 then we will go up to complete the 5th wave at around 1.6125 - 1.6175. Good Luck!
  • #243,302
  • Aug 4, 2010 7:55pm Aug 4, 2010 7:55pm
I like the symmetry. Why not complete the
right shoulder by ranging here until LDN?

Then lance the boil.

Dr. D.
Attached Image
  • #243,303
  • Aug 4, 2010 7:56pm Aug 4, 2010 7:56pm
i dont wana start a war with you hehehehe mr india bus kar deh yaar kyu waat lagane pe hai paisa kama ne deh yara


Quoting forexlion
why is it called no mans land, why not no womans land

and why do they add a wo to a man to make it a woman

is it wo or woe ?
We cannot direct the winds but we can adjust our sail.
  • #243,304
  • Aug 4, 2010 8:05pm Aug 4, 2010 8:05pm
Quoting fourxtrader
I like the symmetry. Why not complete the
right shoulder by ranging here until LDN?

Then lance the boil.

Dr. D.

It just look to obvious to me .... that always makes me suspect. lol
Blogging daily now at www.volume.zone
  • #243,305
  • Aug 4, 2010 8:40pm Aug 4, 2010 8:40pm
Quoting wormboy
okay, booked partial profit & locked the remaining position to work. Free ride.
I'll keep the short position open as the previously bearish close on my H4 signals the tower top formation is complete & that short setup has a higher probability trade atm.
Outta here, good luck everyone
hi guys

careful buying & aiming for targets which surpasses 1.6, it does not seem likely atm because the tower top on the H4 is still intact & the D1 did close bearish & engulfed previous day close, if only just. I'm personally still selling from what hopefully is the top of the mountain & another D1 close today will complete the 3 outside down formation.

Anyway good luck.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gu4.gif Size: 18 KB
Click to Enlarge Name: gud.gif Size: 16 KB
Thank You
  • #243,306
  • Aug 4, 2010 8:42pm Aug 4, 2010 8:42pm
Quoting fourxtrader
I like the symmetry. Why not complete the
right shoulder by ranging here until LDN?

Then lance the boil.

Dr. D.
lol, short term may be looking too big for tht pattern doc , little head and shoulder pattern with top of head at 5 min 200 and the 20 on hourly , obvious or not play what you see , yesterdays low looking like a decent tgt to start with
Attached Image (click to enlarge)
Click to Enlarge Name: 15 min.jpg Size: 163 KB
  • #243,307
  • Aug 4, 2010 8:58pm Aug 4, 2010 8:58pm
Quoting digger1
lol, short term may be looking too big for tht pattern doc , little head and shoulder pattern with top of head at 5 min 200 and the 20 on hourly , obvious or not play what you see , yesterdays low looking like a decent tgt to start with Attachment

I'll take the short term every time
with YL - 1.5855 as a good target.

Dr. D.
  • #243,308
  • Aug 4, 2010 9:01pm Aug 4, 2010 9:01pm
Quoting wormboy
hi guys

careful buying & aiming for targets which surpasses 1.6, it does not seem likely atm because the tower top on the H4 is still intact & the D1 did close bearish & engulfed previous day close, if only just. I'm personally still selling from what hopefully is the top of the mountain & another D1 close today will complete the 3 outside down formation.

Anyway good luck.
Tower top... I like that. Looking like a fortress.

Dr. D.
  • #243,309
  • Aug 4, 2010 9:13pm Aug 4, 2010 9:13pm
Quoting forexlion
why is it called no mans land, why not no womans land

and why do they add a wo to a man to make it a woman

is it wo or woe ?
the wo stands for "watch out....man"
Si vis pacem, para bellum.
  • #243,310
  • Aug 4, 2010 9:18pm Aug 4, 2010 9:18pm
It might have potentially to go down to around 1.5830 or lower today...
1.5800 maybe...GBP/USD do reverse after bullish now bearish take over... this target for this month maybe the GBP/USD will go down until 1.5200
  • #243,311
  • Aug 4, 2010 9:46pm Aug 4, 2010 9:46pm
Quoting Duce
the wo stands for "watch out....man"
LOL
  • #243,312
  • Aug 4, 2010 9:52pm Aug 4, 2010 9:52pm
Quoting wormboy
hi guys

careful buying & aiming for targets which surpasses 1.6, it does not seem likely atm because the tower top on the H4 is still intact & the D1 did close bearish & engulfed previous day close, if only just. I'm personally still selling from what hopefully is the top of the mountain & another D1 close today will complete the 3 outside down formation.

Anyway good luck.
Hi wb,

same view here, didnt close my short on GU, keep it until the end of this week, if stop at be not hit.
Trade with the momentum
  • #243,313
  • Aug 4, 2010 10:04pm Aug 4, 2010 10:04pm
What man learn from history is they never learn from history.

Near term should be down. Only buy when high is breached.
Attached Image (click to enlarge)
Click to Enlarge Name: history.gif Size: 28 KB
  • #243,314
  • Aug 4, 2010 10:31pm Aug 4, 2010 10:31pm
really !!! interesting .... so how comes I bought 5860 closed 5900 , bought 5880 closed 5900 ?

ever heard of buy low... sell high ? not buy higher and hope it is not a false breakout



Quoting trending
What man learn from history is they never learn from history.

Near term should be down. Only buy when high is breached.
Blogging daily now at www.volume.zone
  • #243,315
  • Aug 4, 2010 10:34pm Aug 4, 2010 10:34pm
many high impact news for this week make the bearish take over....this will support the overbought for last few week... this bearish will continues until the oversold happen.. it will take long time to be oversold .. maybe for the end for this month the 1.5200 will be reached....for recovery for bullish...
  • #243,316
  • Aug 4, 2010 10:36pm Aug 4, 2010 10:36pm
Quoting malcolmb14
really !!! interesting .... so how comes I bought 5860 closed 5900 , bought 5880 closed 5900 ?

ever heard of buy low... sell high ? not buy higher and hope it is not a false breakout

I think what the meaning is open sell position when the high price .. with the hope reverse price...

bought 5860 closed 5900 --> buy position
bought 5880 closed 5900 ---> buy position

bought 5900 closed 5860 --> sell position
bought 5900 close 5880 --> sell position

i think that is the meaning
  • #243,317
  • Aug 4, 2010 10:44pm Aug 4, 2010 10:44pm
this seems to be the critical support area. If this breaks wonder if we see 61.8 % retrace of last move

I will be much happier selling once the low of that ultra high volume down bar is broken .

I think GU interest rates are tomorrow ... not sure what effect this will have.

DR D pointed out a nice head and shoulder forming , neckline 5850 , if that plays out would make a nice trade .



Attached Image (click to enlarge)
Click to Enlarge Name: chart2578.png Size: 201 KB
Blogging daily now at www.volume.zone
  • #243,318
  • Aug 4, 2010 10:47pm Aug 4, 2010 10:47pm
Quoting malcolmb14
really !!! interesting .... so how comes I bought 5860 closed 5900 , bought 5880 closed 5900 ?

ever heard of buy low... sell high ? not buy higher and hope it is not a false breakout
That's really obvious isn't it? You want to price to go lower after and sell and higher after a buy. The current price has a huge block of resistance looming over it. Be my guest and speculate a buy.
  • #243,319
  • Aug 4, 2010 10:51pm Aug 4, 2010 10:51pm
Quoting trending
That's really obvious isn't it? You want to price to go lower after and sell and higher after a buy. The current price has a huge block of resistance looming over it. Be my guest and speculate a buy.
my concern is this buying volume that did send the market sideways.... not a good thing to sell against . I have been buying off the 5860 zone today , and well take further sells ( was in one since 5950 yesterday to US this morning) if this level has broken to the down side. Even better if we see this level break on a 10 min chart then see a test of the broken support form below on no volume on an up bar ( no demand form buyers)

for now anyway we seem to be in stale mate .... gonna wait and see what London has in store for Gu

Attached Image (click to enlarge)
Click to Enlarge Name: chart2579.png Size: 192 KB
Blogging daily now at www.volume.zone
  • #243,320
  • Aug 4, 2010 11:06pm Aug 4, 2010 11:06pm
Quoting malcolmb14
this seems to be the critical support area. If this breaks wonder if we see 61.8 % retrace of last move

I will be much happier selling once the low of that ultra high volume down bar is broken .

I think GU interest rates are tomorrow ... not sure what effect this will have.

DR D pointed out a nice head and shoulder forming , neckline 5850 , if that plays out would make a nice trade .



Attachment
Twice I bought 1.5880 - 1.5900, I don't want to try the third before touches 1.5850 !
I only trade XAU/USD. Based on USD news & Fib SR & BB20
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