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Cable Update (GBPUSD)

  • #244,501
  • Aug 10, 2010 3:56am Aug 10, 2010 3:56am
Thank you forexLion.
Nice video!
  • #244,502
  • Aug 10, 2010 3:57am Aug 10, 2010 3:57am
Quoting wormboy
too bad bro. it was a nice try tho
scalped 7 off that, London Open needs to break for shorts scenario though
  • #244,503
  • Aug 10, 2010 3:58am Aug 10, 2010 3:58am
Quoting gotpips92
Alright that makes perfect sense. Guess the best thing to do now is sit on my hands and wait.
In the mean time....

Inserted Video
  • #244,504
  • Aug 10, 2010 4:00am Aug 10, 2010 4:00am
Quoting cloggie
Cable loves the 50 retrace on the daily, now if that goes I would see it as a proper break.
http://cdn.forexfactory.com/attachme...8&d=1281425458

i know the target but dunno which way she'll break
Verily, in every difficulties there is relief
  • #244,505
  • Aug 10, 2010 4:06am Aug 10, 2010 4:06am
Quoting primzvicious
wormie is the break on H4 fakey too? tell me your opinion
I don't think it's fakey no.
Once price closed below the w1 pvp @880 the move down was valid.
Plus the D1 closed bearish 2 crows.

Attached below is the chart I put up yesterday. Sorry I can't put up the latest as I am not at my workstation to access the working chart. But as you can see the levels played out to the pip. The break of the W1 pvp @880, the small bounce of the W1 supp @776 & the small bounce of the ltl @772.
577x level is key area for the day imo, bounce here then the W1 pvp retest is likely to happen, failure to hold however will send cable to 5600.

original chart:
1. http://www.forexfactory.com/showpost...stcount=244334
Attached Image (click to enlarge)
Click to Enlarge Name: gu1a.GIF Size: 28 KB
Thank You
  • #244,506
  • Aug 10, 2010 4:08am Aug 10, 2010 4:08am
Quoting primzvicious
http://cdn.forexfactory.com/attachme...8&d=1281425458

i know the target but dunno which way she'll break

You got it though, don't preempt the move, let the river start flowing then join the ride, not caring one bit which way she goes.
  • #244,507
  • Edited 5:36am Aug 10, 2010 4:10am | Edited 5:36am
Current chart. another 50% mark I have my eye on [1.5640]. We can drop here for a supply run and still maintain the bull trend, anything below that, and it's in the bears court.

If for some odd reason, the triangle breaks topside, she may want to give the daily channel utl on the 4H 23.6% a tap, so that would be a reasonable target.

Good luck with your trades everyone.

edit : added 4H chart with some near targets. 15720 area is a decent first TP.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 480sessionhour.jpg Size: 172 KB
Click to Enlarge Name: h4.gif Size: 34 KB
  • #244,508
  • Aug 10, 2010 4:15am Aug 10, 2010 4:15am
Quoting forexlion
going loong, wish me luuck

Loondoon oopen 5787, soo stoop luuck @ 5780


http://img413.imageshack.us/img413/576/46415171.gif
What is the indicator the blue and follow by the color?
  • #244,509
  • Aug 10, 2010 4:15am Aug 10, 2010 4:15am
Quoting wormboy
I don't think it's fakey no.
Once price closed below the w1 pvp @880 the move down was valid.
Plus the D1 closed bearish 2 crows.

Attached below is the chart I put up yesterday. Sorry I can't put up the latest as I am not at my workstation to access the working chart. But as you can see the levels played out to the pip. The break of the W1 pvp @880, the small bounce of the W1 supp @776 & the small bounce of the ltl @772.
577x level is key area for the day imo, bounce here then the W1 pvp retest is likely to happen, failure to hold however...
thx for your view
Verily, in every difficulties there is relief
  • #244,510
  • Aug 10, 2010 4:23am Aug 10, 2010 4:23am
your guess is as good as mine, lol !!
Attached Image
ex member
  • #244,511
  • Aug 10, 2010 4:23am Aug 10, 2010 4:23am
simple MACD n daily chart cable
Attached Image (click to enlarge)
Click to Enlarge Name: StrategyTester.gif Size: 6 KB
Attached File(s)
File Type: zip StrategyTester.zip   334 KB | 421 downloads
  • #244,512
  • Aug 10, 2010 4:23am Aug 10, 2010 4:23am
correction on Eur/usd ended it may start to push pound down.
  • #244,513
  • Aug 10, 2010 4:26am Aug 10, 2010 4:26am
simple macd n 1 hour cable

http://img442.imageshack.us/img442/6313/29579930.gif
  • #244,514
  • Aug 10, 2010 4:27am Aug 10, 2010 4:27am
okay thanks
  • #244,515
  • Aug 10, 2010 4:35am Aug 10, 2010 4:35am
Quoting forexlion
simple macd n 1 hour cable

http://img442.imageshack.us/img442/6313/29579930.gif

Almost identical setup although i use it on smaller time frames! I like the custom MACD though, much easier to read than mine.
Attached Image (click to enlarge)
Click to Enlarge Name: 1008101733.gif Size: 31 KB
  • #244,516
  • Aug 10, 2010 4:42am Aug 10, 2010 4:42am
false upside break..no candle close outside pennant...5min or 15min...then the close outside lower line following rejection of x 3 of hifhs, made the downside more probable...price entering the potential support zone to 5770 now...that 50% fib 5548-5997 @ 5773 area.

G/L
Attached Image
ex member
  • #244,517
  • Aug 10, 2010 4:42am Aug 10, 2010 4:42am
Good day,

Above price, hope to see the following cluster block price:

1) Friday's low @ 1.5836
2) 50% line of the monthly range @ 1.5844

Should we see continuation lower, the following cluster will be significant:

1) The July high @ 1.5720
2) The monthly opening price @ 1.5709
3) The low of last week @ 1.5693

Regards
  • #244,518
  • Aug 10, 2010 4:47am Aug 10, 2010 4:47am
Quoting wormboy
why?

not saying that it won't work, but see that pennant on the m5? this thing could break either way although the likelihood is that it's more than likely break further down, but just if it does break topside, it'll get a lot higher than 835.

won't hurt to wait a bit ...
there's the breakout .. & my cue.
Next target I have is 5640.
Later all.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: g5.gif Size: 20 KB
Click to Enlarge Name: g5a.gif Size: 20 KB
Thank You
  • #244,519
  • Edited 5:06am Aug 10, 2010 4:49am | Edited 5:06am
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
Going long order@ 157500 Sl @ 57....
  • #244,520
  • Aug 10, 2010 4:49am Aug 10, 2010 4:49am
this month gbp/usd maybe go to 1.4200
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