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Cable Update (GBPUSD)

  • #254,261
  • Sep 20, 2010 6:02am Sep 20, 2010 6:02am
unless yur 4hr can close below dailly low and a retest shows rejection..i dont think this puppy gonna sink..but thhen i would say that im long

trade safe folks
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  • #254,262
  • Sep 20, 2010 6:06am Sep 20, 2010 6:06am
So, am I the only sucker long from here?
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  • #254,263
  • Sep 20, 2010 6:07am Sep 20, 2010 6:07am
We had a bounce at weekly pivot and res turned support.

Those looking for shorts should atleast wait for 1hr to close below 1.5575 area to short again if not already short from top imo.
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  • #254,264
  • Sep 20, 2010 6:08am Sep 20, 2010 6:08am
Quoting Uphios
So, am I the only sucker long from here?
I am with you
A little beginner trader since 2006
  • #254,265
  • Sep 20, 2010 6:16am Sep 20, 2010 6:16am
Any comment ?

http://www.forexrainbow.com/files/m3...wdh78ms2s5.gif
A little beginner trader since 2006
  • #254,266
  • Sep 20, 2010 6:17am Sep 20, 2010 6:17am
Quoting Naseri13
I am with you
Good. Looks like you, me and Navin to pay out the rest of the board judging by the posts.

Have to say I am loaded up, didn't think we would see 1.56 again for a while.
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  • #254,267
  • Sep 20, 2010 6:18am Sep 20, 2010 6:18am
The market failed ahead of 1.5731 (61.8% retrace of the 1.5999-1.5296 down-leg), reaching 1.5730 last Friday and is quite offered today. There is a chance of a retest of 1.5731, but this is rapidly fading. My stop reverse at the 1.5590 level has been triggered, it is likely we will see spot head towards the 200-day M/A line (1.5389).

12.20pm (GMT)
Our beliefs are based on logic and the pursuit of clearity.
  • #254,268
  • Sep 20, 2010 6:19am Sep 20, 2010 6:19am
Quoting Naseri13
Any comment ?

http://www.forexrainbow.com/files/m3...wdh78ms2s5.gif

What do you mean ? up- down or what?
  • #254,269
  • Sep 20, 2010 6:32am Sep 20, 2010 6:32am
Excellent post! Great information .. if anyone missed it, it is #254193.
The bunny is cute too.


Quoting Magix
Hey UB....

Typically the only thing I am looking for on a crossover is a correction. Most likely one of the most predictable patterns that is notable on any chart, and which ones do I use? My staples have always been the 200 and 24, all time frames. 200EMA support/resistance, if 24SMA is above, long chart, if 24 is below short chart, as price closes in direction, this to me is a trigger on trend, stop loss at close candle below the 200.

An example of this is on the 1m chart, 1st chart posted. Price moves above the 200EMA, I know it will come...
******************* I'd rather make money than be right.
  • #254,270
  • Sep 20, 2010 6:47am Sep 20, 2010 6:47am
Quoting 4xStar
Excellent post! Great information .. if anyone missed it, it is #254193.
The bunny is cute too.
everything he posts is .............MAGIC, some great posters around here, i just hope that they stay in here.
  • #254,271
  • Sep 20, 2010 6:53am Sep 20, 2010 6:53am
Quoting huskyboy
everything he posts is .............MAGIC, some great posters around here, i just hope that they stay in here.

i have admit..despite not really using ema's n stuff..i think as u get screen time. u see patterns he obviously has found a few nuggets..credit to him for sharing..

  • #254,272
  • Sep 20, 2010 6:54am Sep 20, 2010 6:54am
Quoting Uphios
So, am I the only sucker long from here?
No. Long 1.5595.
________________________________ Errare humanum est
  • #254,273
  • Sep 20, 2010 6:55am Sep 20, 2010 6:55am
lets see what those trend analyses are worthed? Hope i dont get kicked out again.
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  • #254,274
  • Sep 20, 2010 6:57am Sep 20, 2010 6:57am
5630 and im done for the day...still waiting...
To Your Success!!
  • #254,275
  • Sep 20, 2010 7:00am Sep 20, 2010 7:00am
I'm in with 2 positions now(short)-average price 15610-will possibly make a conservative exit before day-low
  • #254,276
  • Sep 20, 2010 7:00am Sep 20, 2010 7:00am
Guys, just because we had a down morning definately doesn't mean we headed South for long...

My opinion, this large red line holds today and we start going up again to the high's and maybe 2moro, a bit higher...

I don't trade longer term but think it strange to call an end to longs until the large red line has been broken.

Good Luck to All
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@pawpaw1000 on Twitter
  • #254,277
  • Sep 20, 2010 7:04am Sep 20, 2010 7:04am
GU Possibilities:
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  • #254,278
  • Sep 20, 2010 7:07am Sep 20, 2010 7:07am
again short, got kicked out off long, hope i get some pips now
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  • #254,279
  • Sep 20, 2010 7:09am Sep 20, 2010 7:09am
closed my short for 15 pips...done my 1% before NY session...which is nice
  • #254,280
  • Sep 20, 2010 7:14am Sep 20, 2010 7:14am
Agreed, didnt fill my selllimit because of 4pips... now waiting, if Llow is created, wait for pullback and jumping in short... TP similar with yours...

Quoting PipChick
GU Possibilities:

Quoting scurt
SELL_LIMIT@1,5624, SL 1,5660, TP5545
(dont expecting that pound will go under 5520)

Reasons:
-50%fib from today downmove
-20EMA in play
-we did lower low from friday so expecting that we make it to 50% fibo from upmove
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