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Cable Update (GBPUSD)

  • #248,841
  • Aug 26, 2010 1:48am Aug 26, 2010 1:48am
Does the London opening make changes in something?
  • #248,842
  • Aug 26, 2010 2:04am Aug 26, 2010 2:04am
[quote=TauTrader;3977676]Good day to you,

Anything below 1.5591 is technically still bearish and no longer term long positions should be established until this level goes. However - recent movements do suggest that on a shorter term, the break above 1.5530/1.5529 is bullish. But price will have to get through 1.5591 to establish momentum. Just take care between 1.5591 and 1.5606 ( last week's opening price) - as the latter could still block, giving a false breakout.

To the downside, clear break back below 1.5530/1.5529, puts us back to a possible move down to 1.5466. BUT the weekly opening price @ 1.5534 may now offer interim support for now


Checked the charts this morning and thought WTF!!
Found your post and just wanna say thanks for the great analysis. Simple and easy to understand for a newbee like me.

Cheers.
  • #248,843
  • Aug 26, 2010 2:06am Aug 26, 2010 2:06am
Quoting Scipionz
Going to the depanor to get myself some... chocolate!
LOL!
Soon!

Sir Scipionz, for showing the patience, bravery, and skill to hold out for 15580 King Fudo, the self important, in his august and wise judgement, hereby bestowths a vouch on thee.




btw: TP 132 GY. GU partial TP 15580. still holding 1 position for the DTL.
Attached Image
  • #248,844
  • Aug 26, 2010 2:08am Aug 26, 2010 2:08am
Based on my h4 chart here -http://www.forexfactory.com/showthre...20#post3973520

I am going short -

Attached Image (click to enlarge)
Click to Enlarge Name: 100826_gu_h4.jpg Size: 107 KB


I could be wrong, but that doesn't matter because I have planned it all. If it doesn't bite... oh well! I'm not gonna chase it.

EDIT: 3 pips short of biting...lol, still time will tell...
  • #248,845
  • Aug 26, 2010 2:11am Aug 26, 2010 2:11am
Quoting Uncharted
when trading in the higher tf, for that statement to be true, woudln't you need to see a close above the previous weekly candle ?

not necessarly dailly just needs to be bullish, even if it ranges from here..weekly has done enough to warrant move up..
  • #248,846
  • Aug 26, 2010 2:11am Aug 26, 2010 2:11am
are we goin up until the us Unemployment Claims? which are proably gonna be worse than last month.
  • #248,847
  • Aug 26, 2010 2:12am Aug 26, 2010 2:12am

Quoting nAVIN2007
not necessarly dailly just needs to be bullish, even if it ranges from here..weekly has done enough to warrant move up..
  • #248,848
  • Aug 26, 2010 2:23am Aug 26, 2010 2:23am
Quoting bbakker
Based on my h4 chart here -http://www.forexfactory.com/showthre...20#post3973520

I am going short -

Attachment

I could be wrong, but that doesn't matter because I have planned it all. If it doesn't bite... oh well! I'm not gonna chase it.

EDIT: 3 pips short of biting...lol, still time will tell...
If price breaks 1.5540, there is a lot of air to my first TP! Still it didn't bite and the hanging man candle on m15 looks ominous that it won't reach my entry point. I am off to work. Have a great day trading and good luck!
  • #248,849
  • Aug 26, 2010 2:25am Aug 26, 2010 2:25am
I was flustered, i'm out a long from a position with loss. Now worthy you are long yet let me be waiting?
  • #248,850
  • Aug 26, 2010 2:28am Aug 26, 2010 2:28am
Very bullish tone adopted during the overnight asian session and into London open after yesterday's rangy consolidation with a slightly bullish tone, and the 4hr descending trendline/upper channel breeches to the upside....Plenty of potential resistance factors overhead, 4hr screenshot is below...offers to 5600 being the firtst hurdle say Mni. Not shown on chart below is 76.4% of 5702-5371 is @ 5624.

Uk data at 10am gmt.

G/L

http://www.easy-upload.net/fichiers/z.201082692716.gif
ex member
  • #248,851
  • Aug 26, 2010 2:29am Aug 26, 2010 2:29am
Good morning all,

what a nice move, just missed it completely what a shame....
Well next POI 1.562 I presume....
Glad for you nAV it finally is coming your way.....

H1:
Attached Image (click to enlarge)
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Don't be a hero. Don't have an ego. Always question yourself
  • #248,852
  • Aug 26, 2010 2:34am Aug 26, 2010 2:34am
boys, no one knows where we are going... We did get a nice rejection off R3 but need more confirmation to go short...
Attached Image (click to enlarge)
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@pawpaw1000 on Twitter
  • #248,853
  • Aug 26, 2010 2:38am Aug 26, 2010 2:38am
Offers 5580/85 around Daily R3 kick in...good bearish divergence set-ups to 15min...15min shown below...nice 15min PB trigger...

G/L
Attached Image (click to enlarge)
Click to Enlarge Name: 0815 15min rev b.gif Size: 18 KB
ex member
  • #248,854
  • Aug 26, 2010 2:44am Aug 26, 2010 2:44am
Quoting bbmac
Offers 5580/85 around Daily R3 kick in...good bearish divergence set-ups to 15min...15min shown below...nice 15min PB trigger...

G/L


watching the same thing. sitting on the 200sma. if we break below, could pb to R1 area. closed my long. took a cheeky short off the 5m TL break 15548.
Attached Image (click to enlarge)
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  • #248,855
  • Aug 26, 2010 2:45am Aug 26, 2010 2:45am
I think price still has a momentum to go up.
  • #248,856
  • Aug 26, 2010 2:47am Aug 26, 2010 2:47am
got in short on the break of that little range...

Kicking myself that I didn't have the guts to get in earlier! could've been up 15 already...

anyways, target Pivot or at least R1
@pawpaw1000 on Twitter
  • #248,857
  • Aug 26, 2010 2:49am Aug 26, 2010 2:49am
Quoting Piotr1
I think price still has a momentum to go up.
thank you, your analysis astounds me! your charting ability surpasses all our wildest dreams!!!

EDIT: as always, only risking 0.85% of account seeing as my s/l is -9pips
@pawpaw1000 on Twitter
  • #248,858
  • Aug 26, 2010 2:55am Aug 26, 2010 2:55am
Quoting Piotr1
I think price still has a momentum to go up.

me too...H4 uptrend just begin for me..
  • #248,859
  • Aug 26, 2010 2:58am Aug 26, 2010 2:58am
1hr could close as bearish engulf...few minutes to go. Even farther to go is the Weekly - but could close as a PB/hammer/Doji with any close at or above the weekly open..

G/L
ex member
  • #248,860
  • Aug 26, 2010 3:00am Aug 26, 2010 3:00am
closed for -7... Shitty entry and seems we bouncing off R2!
@pawpaw1000 on Twitter
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