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Cable Update (GBPUSD)

  • #243,401
  • Aug 5, 2010 2:09am Aug 5, 2010 2:09am
Quoting forexlion
Hat ??

Nice Hat

Yeah, a sombrero pattern.
  • #243,402
  • Aug 5, 2010 2:09am Aug 5, 2010 2:09am
Quoting subterfuge
I well overdue a losing trade in this thread.
Lets see:
Short 1.5838
15pip stop
stopped/
  • #243,403
  • Aug 5, 2010 2:10am Aug 5, 2010 2:10am
guys, pls be careful shorting now, with Greece good news lifting eur/usd, cable will go back to daily pivot on better sentiment
  • #243,404
  • Aug 5, 2010 2:11am Aug 5, 2010 2:11am
Quoting cloggie
Absolutely, the daily only barely managed a bearish engulfing and you need to seriously zoom out to even spot it. The longer trend is still solidly up, this is only a retrace on the shorter TF's, just a bit of covering once 5960 was unable to give way.
Agree
  • #243,405
  • Aug 5, 2010 2:14am Aug 5, 2010 2:14am
pretty nice W

next 1 hour candle might drop, just look @ 5 min MissAssCurlyDivergence [MACD] for cues for when it will start the drop

http://img217.imageshack.us/img217/5685/27876367.gif
  • #243,406
  • Aug 5, 2010 2:16am Aug 5, 2010 2:16am
Quoting forexlion
W made me trash all thoughts of shorting till it forms a M

M's and W's are powerful pattern indicators of an intermediate direction and are helpful keeping you on the right side of the market. Having a W form after a large momentum bar keeps you out of shorting the bottom. So far just about the whole move has been covered.

The spinner on the 30 would have been the first sign that shorting this one was doomed. The next 30 and 5900 will be key.
  • #243,407
  • Aug 5, 2010 2:20am Aug 5, 2010 2:20am
thanks Vasille

i'll look him up

my thoughts though are that the golden ratio being 0.618
or 1.618 depending on expanding or contracting

23.6, 38.2, 61.8 being the sequence with 50 a midpoint

then fractally the two preceding numbers in the sequence
will have to show themselves at some stage too...

ie 9, 14.6, 23.6, 38.2
as they did on the recently weekly chart

just my observations that's all
  • #243,408
  • Aug 5, 2010 2:21am Aug 5, 2010 2:21am
Quoting forexlion
pretty nice W

next 1 hour candle might drop, just look @ 5 min MissAssCurlyDivergence [MACD] for cues for when it will start the drop

http://img217.imageshack.us/img217/5685/27876367.gif
Lol
ex member
  • #243,409
  • Aug 5, 2010 2:27am Aug 5, 2010 2:27am
Looks like cable joined a strip tease class

unless you are aware of the basic W and M you are doomed
  • #243,410
  • Aug 5, 2010 2:29am Aug 5, 2010 2:29am
Quoting forexlion
Looks like cable joined a strip tease class

unless you are aware of the basic W and M you are doomed
We even had it in 5min:
Attached Image
ex member
  • #243,411
  • Aug 5, 2010 2:29am Aug 5, 2010 2:29am
From statistical point of view, price bounced back from average negative change (last chart showing that).
  • #243,412
  • Aug 5, 2010 2:30am Aug 5, 2010 2:30am
the current H4 (MIG) candle starting to look a little ominous...

still got 15 odd min to close though
  • #243,413
  • Aug 5, 2010 2:30am Aug 5, 2010 2:30am
Quoting forexlion
Looks like cable joined a strip tease class

unless you are aware of the basic W and M you are doomed
it was M5 which blew the whistle

rest is history

http://img217.imageshack.us/img217/3699/96679343.gif
  • #243,414
  • Aug 5, 2010 2:32am Aug 5, 2010 2:32am
If you want to make some money, just sell now and write my name on Guinness book for the next million years.
Mystery Is The Final Product Of Ignorance. Hey! What's ma chart doin'
  • #243,415
  • Aug 5, 2010 2:38am Aug 5, 2010 2:38am
Decision time. 590-ish keeps coming back into play, it did on the way up to 596 and is doing so in its attempt on the way down.
Attached Image (click to enlarge)
Click to Enlarge Name: today's play 41.gif Size: 16 KB
  • #243,416
  • Aug 5, 2010 2:40am Aug 5, 2010 2:40am
intraday sentiment turns mixed-bullish from bearish, intermediate sentiment (1hr) is bearish-mixed now and overall sentiment 4hr + remains bullish

Uk Boe/Mpc rate and Qe info due at 11am gmt

G/L
ex member
  • #243,417
  • Aug 5, 2010 2:42am Aug 5, 2010 2:42am
Quoting Precap2
If you want to make some money, just sell now and write my name on Guinness book for the next million years.
I will write down ur name = WTF
  • #243,418
  • Aug 5, 2010 2:45am Aug 5, 2010 2:45am
looks like the 4hr hidden divergence playing out so far ?
Attached Image (click to enlarge)
Click to Enlarge Name: z.gif Size: 16 KB
ex member
  • #243,419
  • Aug 5, 2010 2:46am Aug 5, 2010 2:46am
Quoting bbmac
intraday sentiment turns mixed-bullish from bearish, intermediate sentiment (1hr) is bearish-mixed now and overall sentiment 4hr + remains bullish

Uk Boe/Mpc rate and Qe info due at 11am gmt

G/L
What a market!
Mystery Is The Final Product Of Ignorance. Hey! What's ma chart doin'
  • #243,420
  • Aug 5, 2010 2:46am Aug 5, 2010 2:46am
step by step..just patient

bb in next 2 hr..chow

g
Attached Image (click to enlarge)
Click to Enlarge Name: GU-H4.JPG Size: 94 KB
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