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Cable Update (GBPUSD)

  • #252,081
  • Sep 10, 2010 2:53am Sep 10, 2010 2:53am
1-Good post in my view about MA,TL, SR
http://www.forexfactory.com/showpost...1&postcount=98
2- Two things from my small experience i found
Every pair has it's own properties and MA to use with it , Difference brokers time effect same MA from trader to trader even it's with same pair especially with small TF
  • #252,082
  • Sep 10, 2010 2:55am Sep 10, 2010 2:55am
GU is making some moves that would ultimately hurt is badly. It's showing a no hope formation
Attached Image
Mystery Is The Final Product Of Ignorance. Hey! What's ma chart doin'
  • #252,083
  • Sep 10, 2010 2:57am Sep 10, 2010 2:57am
Quoting USD-Bear
fits beautiful, what shapes the blue line?

if u look at the monthly chart..the blue lines represents an area in the past where price bounced of to hit the top..very significant..1.53 support zones is a tough cookie..price is testing it and so far on weekly its held..pound is in proccess of recovery..scenero 1


scenero 2
possibility of seeing 1.62 area then down 1.45 area then wedge formation is complete..then breakout topside (weekly wedge formation)

i dont see this going down for scenero 3

1.53 area is huge base (in the past to go up from) if that makes any sense
Attached Image (click to enlarge)
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  • #252,084
  • Sep 10, 2010 2:57am Sep 10, 2010 2:57am
Quoting nAVIN2007
brother they are always laggin..cause they work on averages..so candles need to be printed first b4 they show..i suppose u can play the touches but thats not trading with discipline more just taking chances

cross over system are definately laggin..but hey! if it works then its an edge..keep doing what works..but i rather understand market price movements..

im becoming stronger and stronger every week..hopefully it will continue
good luck all
Yes they lag, but each pair has a favourite MA that can be used as part of the toolbox, a fast one for price and a slow one for trend. Of course one shouldn't trade just of MA's but they are a good guidance for both price and trend as a secondary tool. One big thing to keep in mind is that price does not move to the MA, the MA moves to the price and vice versa.
  • #252,085
  • Sep 10, 2010 2:58am Sep 10, 2010 2:58am
Quoting nAVIN2007
brother they are always laggin..cause they work on averages..so candles need to be printed first b4 they show..i suppose u can play the touches but thats not trading with discipline more just taking chances

cross over system are definately laggin..but hey! if it works then its an edge..keep doing what works..but i rather understand market price movements..

im becoming stronger and stronger every week..hopefully it will continue
good luck all
Give me some min and i will tell u my proof with chart
  • #252,086
  • Sep 10, 2010 3:01am Sep 10, 2010 3:01am
Quoting Precap2
GU is making some moves that would ultimately hurt is badly. It's showing a no hope formation
no i totally disagree..
  • #252,087
  • Sep 10, 2010 3:01am Sep 10, 2010 3:01am
any body short for trading ? or there is someone still short for scalping only ?
not euphoria follower
  • #252,088
  • Sep 10, 2010 3:01am Sep 10, 2010 3:01am
we have a powerful resistance at 1.5523... as shown in my screen shot. the earlier signal on cable was a sell signal as my arrows show. i had to exit that trade cos of my cycle identifier. lets see.. if that resistance is broken, then i'll wait patiently for another whooping sell signal.



Attached Image (click to enlarge)
Click to Enlarge Name: fx583.gif Size: 81 KB





My pipping Vendetta Continues
  • #252,089
  • Sep 10, 2010 3:03am Sep 10, 2010 3:03am
I see 10 year yields have crept over the 2.75 mark you mentioned eariler Cloggie. If they get over 2.85 could that kick start the carry trade again? My understanding is still very limited I'm afraid.
  • #252,090
  • Sep 10, 2010 3:03am Sep 10, 2010 3:03am
Quoting cloggie
Yes they lag, but each pair has a favourite MA that can be used as part of the toolbox, a fast one for price and a slow one for trend. Of course one shouldn't trade just of MA's but they are a good guidance for both price and trend as a secondary tool. One big thing to keep in mind is that price does not move to the MA, the MA moves to the price and vice versa.
im gonna add this post to me guidance folder..thanks buddy
  • #252,091
  • Sep 10, 2010 3:04am Sep 10, 2010 3:04am
  •  zigizum
  • | Joined Aug 2010 | Status: Not in a hurry too blow my account | 52 Posts
Quoting nAVIN2007
if u look at the monthly chart..the blue lines represents an area in the past where price bounced of to hit the top..very significant..1.53 support zones is a tough cookie..price is testing it and so far on weekly its held..pound is in proccess of recovery..scenero 1


scenero 2
possibility of seeing 1.62 area then down 1.45 area then wedge formation is complete..then breakout topside (weekly wedge formation)

i dont see this going down for scenero 3

1.53 area is huge base (in the past to go up from) if that makes any sense
I agree on 1,53 level....its pretty strong in weekly monthly daily view...Still, seeing some good resistance at 1,55-1,56 so still bearish for now.
  • #252,092
  • Sep 10, 2010 3:04am Sep 10, 2010 3:04am
  •  samirb
  • | Joined Nov 2009 | Status: Investing is simple, but not easy. | 247 Posts
Quoting nAVIN2007
slightly different view..

Good day,

Second chart closer view of the wedge.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: long view.jpg Size: 77 KB
Click to Enlarge Name: wedge.jpg Size: 82 KB
  • #252,093
  • Sep 10, 2010 3:05am Sep 10, 2010 3:05am
Quoting nAVIN2007
im gonna add this post to me guidance folder..thanks buddy

Put up a 25ema on M1/M5 right now on the early London break of that concealing baby and you can see what I mean. It was a nice secondary confirmation of the early break of the baby. The 25 on the M1 right now also is a good secondary for confirmation of the move exhausting at some point here, I don't use it as an entry/exit signal but I let the right MA catch up with the price to give me a secondary view, as to the trend ones, I look at different slow MA's depending on currency and time of day. That little 25ema on the M1 has kept me on the right side of 80+ pips so far.
  • #252,094
  • Sep 10, 2010 3:05am Sep 10, 2010 3:05am
Oil and stocks are testing recent highs/key resistance. Wonder if they'll reject from here and send EU and GU back down?
  • #252,095
  • Sep 10, 2010 3:06am Sep 10, 2010 3:06am
Quoting iqyu5an
any body short for trading ? or there is someone still short for scalping only ?
pending order sell 1.54350
  • #252,096
  • Sep 10, 2010 3:09am Sep 10, 2010 3:09am
Cloggie,

Were you watching this bullish H4/H1 gartley setup this morning? I'm new to this....did the overrun on the A-B leg invalidate the setup or is it only point D that should be pretty much bang on?

Any advice would be appeciated.
Attached Image (click to enlarge)
Click to Enlarge Name: 2010910-BullishGartley-H4.jpg Size: 93 KB
  • #252,097
  • Sep 10, 2010 3:11am Sep 10, 2010 3:11am
Quoting iqyu5an
As my post in other room.... september is bullish for me... any drop just a moment to add more long position.
Well you may be right...I got stopped out for -15 from my short before... stop could be too tight but its gone to sleep now.. waiting for news i guess...

Looked to be a descending wedge on the H1 and H4 suggesting a reversal to the upside... we'll see.
  • #252,098
  • Sep 10, 2010 3:11am Sep 10, 2010 3:11am
Quoting Sutts
Cloggie,

Were you watching this bullish H4/H1 gartley setup this morning? I'm new to this....did the overrun on the A-B leg invalidate the setup or is it only point D that should be pretty much bang on?

Any advice would be appeciated.

Am not a big fan of harmonics on London Breaks, the open volume tends to have a mind of its own. I tend to use pure price patterns, backed up with SR/TL/MA's for a London break setup. Today was the concealing baby on the 5 with a confirmation of MA, cam and a quick glance at MM that showed us the way.

I generally use harmonics for my position trades on the higher TF's, have not taken any positions yet as we have only just started normal trading season. Am keeping an eye on the pattern on H4 though to see if I may join nAvin on the ride back up....

Edit: Am covering my longs here, letting things settle down a bit.
  • #252,099
  • Sep 10, 2010 3:16am Sep 10, 2010 3:16am
Quoting Sutts
Oil and stocks are testing recent highs/key resistance. Wonder if they'll reject from here and send EU and GU back down?

76 is still the key for a further rally, been mentioning it for days now and most equity boys are keeping an eye on that one.
  • #252,100
  • Sep 10, 2010 3:19am Sep 10, 2010 3:19am
Quoting samirb
Good day,

Second chart closer view of the wedge.
nice charts
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