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Cable Update (GBPUSD)

  • #244,541
  • Aug 10, 2010 6:19am Aug 10, 2010 6:19am
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...
Here's the updated chart.

Good luck.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gu.GIF Size: 28 KB
Click to Enlarge Name: gu1.gif Size: 27 KB
Thank You
  • #244,542
  • Aug 10, 2010 6:33am Aug 10, 2010 6:33am
always sell bottoms

http://img294.imageshack.us/img294/1202/45822546.gif
  • #244,543
  • Aug 10, 2010 6:37am Aug 10, 2010 6:37am
Quoting forexlion
always sell bottoms
You're holding it ? My stop held by 1 pip but it doesn't look good Doesn't matter, SL is +50 pips
  • #244,544
  • Aug 10, 2010 6:42am Aug 10, 2010 6:42am
Quoting sopel
You're holding it ? My stop held by 1 pip but it doesn't look good Doesn't matter, SL is +50 pips
selling bottoms gives profits

fact is cable got rejected on last week high and this itself was a strong bear sign

http://img444.imageshack.us/img444/9175/50633704.gif
  • #244,545
  • Aug 10, 2010 6:45am Aug 10, 2010 6:45am
Quoting forexlion
selling bottoms gives profits

fact is cable got rejected on last week high and this itself was a strong bear sign

http://img444.imageshack.us/img444/9175/50633704.gif
any move below last month high and cable is dead

good for door mats
  • #244,546
  • Aug 10, 2010 6:52am Aug 10, 2010 6:52am
moved SL very tight. 1.5750 (+64). Divergences forming on lower TF.
  • #244,547
  • Aug 10, 2010 6:55am Aug 10, 2010 6:55am
Quoting wormboy
there's the breakout .. & my cue.
Next target I have is 5640.
Later all.
Same target, first TP 15720 area.

updated chart. let's see what happens when we get down there. I'm not going to be too fussy. anywhere in this zone is fine for me.

Quoting Fudomyo
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. ....
http://www.forexfactory.com/showpost...stcount=244512
Attached Image (click to enlarge)
Click to Enlarge Name: 2.jpg Size: 161 KB
  • #244,548
  • Aug 10, 2010 6:57am Aug 10, 2010 6:57am
Looking pretty bearish overall since 15min pennant broke to downside....mni saying bids now 5735/25 likely with stops sub 5720....nice continuation set-up oin 5min after the pullbacck and consolidation....

Just been snipping away at it but flat again now...although price at 113% of the 20day average pip range (it had travelled 86% in the asian session before the consolidation off then 5773 lowsthat created the 5min channel/15min pennant set in.)

Finishing here...G/L with rest of session...
Attached Image
ex member
  • #244,549
  • Aug 10, 2010 7:02am Aug 10, 2010 7:02am
profit booked, nice
  • #244,550
  • Aug 10, 2010 7:02am Aug 10, 2010 7:02am
Inserted Video
  • #244,551
  • Aug 10, 2010 7:06am Aug 10, 2010 7:06am
Quoting forexlion
http://www.youtube.com/watch?v=Jahdn...ure=grec_index

tp hit i saw that few years ago
  • #244,552
  • Aug 10, 2010 7:06am Aug 10, 2010 7:06am
First TP target hit at HS1 157229... reload on pullback.
  • #244,553
  • Aug 10, 2010 7:11am Aug 10, 2010 7:11am
Just thought I would Buzzzzzz in and say many thanks to all those who are posting and teaching us NewBees...... It is as always most appreciated.

Amazes me sometimes how 'one' can see something written differently which makes more sense than it did another way.

Again many thanks....
  • #244,554
  • Aug 10, 2010 7:11am Aug 10, 2010 7:11am
will get down sooner...below 157200
  • #244,555
  • Aug 10, 2010 7:14am Aug 10, 2010 7:14am
Quoting primzvicious
my view
target reached... looking for pull back now
Verily, in every difficulties there is relief
  • #244,556
  • Aug 10, 2010 7:17am Aug 10, 2010 7:17am
Our lady is heading for 5650, then 5500 just as I have been saying after it failed to stay above 5965 following poor NFP. The correction is going to be deep. I hope it's not reversal time yet.

Precap2
Mystery Is The Final Product Of Ignorance. Hey! What's ma chart doin'
  • #244,557
  • Aug 10, 2010 7:23am Aug 10, 2010 7:23am
Quoting AdrianHNV
Just thought I would Buzzzzzz. . . . us NewBees......

Again many thanks....
The Buzz of the new Bees. . . hope you ain't gonna sting anyone here. Maybe you should watch your sting, it's part of your nature
Mystery Is The Final Product Of Ignorance. Hey! What's ma chart doin'
  • #244,558
  • Aug 10, 2010 7:26am Aug 10, 2010 7:26am
Quoting Fudomyo
Same target, first TP 15720 area.

updated chart. let's see what happens when we get down there. I'm not going to be too fussy. anywhere in this zone is fine for me.
nice one bro

it's so quiet in here, bulls must be worried. 5970 seems so far away now ey
Thank You
  • #244,559
  • Aug 10, 2010 7:28am Aug 10, 2010 7:28am
engulfing candle with divergence... let's see

E: Stopped at BE
Attached Image (click to enlarge)
Click to Enlarge Name: gu.png Size: 47 KB
  • #244,560
  • Aug 10, 2010 7:28am Aug 10, 2010 7:28am
Quoting wormboy
nice one bro

it's so quiet in here, bulls must be worried. 5970 seems so far away now ey
yes it is... me, only saw 800-825 area...
Verily, in every difficulties there is relief
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