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Cable Update (GBPUSD)

  • #243,421
  • Aug 5, 2010 4:48am Aug 5, 2010 4:48am
Every momemtum bar on the 30 this week has failed.
  • #243,422
  • Aug 5, 2010 4:49am Aug 5, 2010 4:49am
What a nice touch!
Waiting pound in 1.60 area.
http://1.bp.blogspot.com/_LbKfbdL8RY...%BD%D1%821.gif
  • #243,423
  • Aug 5, 2010 4:50am Aug 5, 2010 4:50am
Hi all,,

It seems ranging day, short from here, sl just out side the box tp s1
Attached Image (click to enlarge)
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  • #243,424
  • Aug 5, 2010 4:50am Aug 5, 2010 4:50am
closed long for +46 pips, short again from .5900 sl .5975, tp .5720
  • #243,425
  • Aug 5, 2010 4:51am Aug 5, 2010 4:51am
testing my resistance again
Attached Image (click to enlarge)
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Verily, in every difficulties there is relief
  • #243,426
  • Aug 5, 2010 4:56am Aug 5, 2010 4:56am
Quoting forexlion
Looks like cable joined a strip tease class

unless you are aware of the basic W and M you are doomed
you have a cute avatar lion....
I will be the number one Manager.
  • #243,427
  • Aug 5, 2010 5:03am Aug 5, 2010 5:03am
Quoting Elite_trader
closed long for +46 pips, short again from .5900 sl .5975, tp .5720

Shorting this when we are testing the previous range, UC has not found support yet and EU has not found resistance yet is selling into dollar weakness right now, would not have been my choice.
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  • #243,428
  • Aug 5, 2010 5:05am Aug 5, 2010 5:05am
Quoting Cobby
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
u're welcome!

well, I suppose that this observation must be backtested on history, I've tried to expiriment with fibo ratios on pound, but finally has come to such conclusion: Pound loves 2 levels - 61.8 and 38.2. In some cases he might walk around this levels for a weeks. Well, if you will find something - I think that it would help in your analysys.
  • #243,429
  • Aug 5, 2010 5:13am Aug 5, 2010 5:13am
Quoting cloggie
Shorting this when we are testing the previous range, UC has not found support yet and EU has not found resistance yet is selling into dollar weakness right now, would not have been my choice.
you are right cloggie, did consider that but am in 1/4 of my regular lot size, so can observe the possible loss if it goes against me. thanks for the hint though
  • #243,430
  • Aug 5, 2010 5:17am Aug 5, 2010 5:17am
Quoting Elite_trader
you are right cloggie, did consider that but am in 1/4 of my regular lot size, so can observe the possible loss if it goes against me. thanks for the hint though

UC is finding some support here, and if this week is anything to go by this 30 will fail anyways.
  • #243,431
  • Aug 5, 2010 5:18am Aug 5, 2010 5:18am
the 1hr screenshot below shows where the current supply was waiting...Pullback or more ?? Uk data is 40mins or so away

G/L
Attached Image
ex member
  • #243,432
  • Aug 5, 2010 5:19am Aug 5, 2010 5:19am
1 Hour , all set for a rally
  • #243,433
  • Aug 5, 2010 5:20am Aug 5, 2010 5:20am
Quoting bbmac
Uk data is 40mins or so away

G/L

If anybody else is going to join Sentance this will be the end of the H4 retrace.
  • #243,434
  • Aug 5, 2010 5:21am Aug 5, 2010 5:21am
Quoting cloggie
UC is finding some support here, and if this week is anything to go by this 30 will fail anyways.
Cloggie, what is UC?
  • #243,435
  • Aug 5, 2010 5:23am Aug 5, 2010 5:23am
interesting to note too that fib 14.6
on H4(MIG) 1.5551/1.5967
= the H4 8.00 candle high
  • #243,436
  • Aug 5, 2010 5:23am Aug 5, 2010 5:23am
Quoting langdonb
Cloggie, what is UC?
USDCHF, always a good one to see if this is Sterling strength or Dollar weakness.
  • #243,437
  • Aug 5, 2010 5:23am Aug 5, 2010 5:23am
hi guys

do you think news on cable would effect direction for the day?
  • #243,438
  • Aug 5, 2010 5:24am Aug 5, 2010 5:24am
Quoting langdonb
Cloggie, what is UC?
Under Cover Swiss
  • #243,439
  • Aug 5, 2010 5:27am Aug 5, 2010 5:27am
Quoting forexlion
1 Hour , all set for a rally
Expecting that..... if so i think it should be strong enough probably to hit 1.6000
To Your Success!!
  • #243,440
  • Aug 5, 2010 5:29am Aug 5, 2010 5:29am
Quoting adrianebn
hi guys

do you think news on cable would effect direction for the day?
Thats difficult to say until it comes out...has it moved the market in the past -Yes !! can it be a prolongerd move (not just a quickly reversed knee-jerk to data release) - Yes, but as with all data it depends on wether it is different from that the market is expecting as to likely strength of any reaction.) This site rates it as 'High impact' data...The likeliest scenario is rates on hold at 0.5% and no change to Qe but the accompanying statement may offer more clues as may the minutes of this Boe/Mpc meeting to be released later in the month.

G/L
ex member
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