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Cable Update (GBPUSD)

  • #256,761
  • Sep 28, 2010 12:46pm Sep 28, 2010 12:46pm
Quoting trending
If price stay around 50% of today's range the daily is going to end up a doji, very sellable, at least for a while.

Plus it will be foolhardy to long against a gartley pattern before price clear 15850.

So I'm stuck unable to short against trend and long against the PA and pattern.
Yeah i am in same boat .... now what

4 hour says that dips was heavily bought and I am treating it as a shake out.

I am waiting till the next London session has completed to trade GU again just to see what happens next

EU is way more tasty to trade .. just buy dips

Attached Image (click to enlarge)
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  • #256,762
  • Sep 28, 2010 12:58pm Sep 28, 2010 12:58pm
in the weekly chart,you can see ,there is a strong resistance @1.5811. so i donot think it is a good position to trade. it may be go long or reverse.but it is not sure right now .
everyone good luck.
Attached Image (click to enlarge)
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A chart helps those who can read it.
  • #256,763
  • Sep 28, 2010 1:04pm Sep 28, 2010 1:04pm
could no longer resist. Short .5805, s/l .5820.

edit: now carrying a 3 pip trailing stop locking in 5 pips.

edit2: triggered so that's all it locked in.
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  • #256,764
  • Sep 28, 2010 1:31pm Sep 28, 2010 1:31pm
Any thoughts on how news in 2 hours will affect?
  • #256,765
  • Sep 28, 2010 1:33pm Sep 28, 2010 1:33pm
Quoting malcolmb14
Yeah i am in same boat .... now what

4 hour says that dips was heavily bought and I am treating it as a shake out.

I am waiting till the next London session has completed to trade GU again just to see what happens next

EU is way more tasty to trade .. just buy dips

Attachment
No go for EU for me. At the top of a channel.
  • #256,766
  • Sep 28, 2010 1:35pm Sep 28, 2010 1:35pm
Quoting Sunsi
Any thoughts on how news in 2 hours will affect?
No Idea. My guess, and it is a guess that nothing surprising will be said. Fed comments usually come from fed meetings or the boss and given a mid term election soon I do not think anyone will be allowed to rock the boat. But as I say, just my guess.
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  • #256,767
  • Sep 28, 2010 1:49pm Sep 28, 2010 1:49pm
Quoting geniusztc
in the weekly chart,you can see ,there is a strong resistance @1.5811. so i donot think it is a good position to trade. it may be go long or reverse.but it is not sure right now .
everyone good luck.

5811 is not weekly resistance....the areas circled were previous swing lows on the weekly t/f= previous support=potential sbr but the run up to 5997 at point a showed that there were insufficient sellers there to reverse price at that level...similarly the run up to current 5895 hi again at point b shows there were insufficient sellers to halt price again, ie it is not acting as resistance now at 5811....Once a previous swinmg hi/lo, and taking a previous near-term swing hi as the example, fails to act as resistance again and then fails to act as support (becoming potential rbs when breeched to the upside) if tested from the topside, it should be largely ignored as a potentially significant level for the future.

G/L
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ex member
  • #256,768
  • Sep 28, 2010 2:28pm Sep 28, 2010 2:28pm
Quoting dag777
thank you gammase1, very friendly

will read it after finish my dayjob

Just read this... Thank you Gammase1. Very much appreciated.
What we obtain too cheap, we esteem too lightly.
  • #256,769
  • Sep 28, 2010 2:52pm Sep 28, 2010 2:52pm
Quoting master4forex
http://cdn.benzinga.com/files/bear_market_0528.jpg

This guy posts more crap than anyone on this thread. What is the point? Say hello to Iggy.
What we obtain too cheap, we esteem too lightly.
  • #256,770
  • Sep 28, 2010 3:02pm Sep 28, 2010 3:02pm
http://2.bp.blogspot.com/_c0AuCQDWZf...on20090212.jpg
  • #256,771
  • Sep 28, 2010 3:02pm Sep 28, 2010 3:02pm
Quoting malcolmb14
Yeah i am in same boat .... now what

4 hour says that dips was heavily bought and I am treating it as a shake out.

I am waiting till the next London session has completed to trade GU again just to see what happens next

EU is way more tasty to trade .. just buy dips

Attachment
I think it was a shake out, and it shake the sh*t out of me.. lol. I close my pos (entry @ 5725) with a mere 10 pips. I would like to see consolidation in that area (or perhaps a little above the support) first, before going into thinking to long again. Hopefully we can see that in a day or two.

Cheers bro.
Attached Image (click to enlarge)
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  • #256,772
  • Sep 28, 2010 3:06pm Sep 28, 2010 3:06pm
The pair is in an uptrend after bottoming at 1.4226. Trading is situated above the 50- and 200-day SMA, currently projected at 1.4986 and 1.5539.

Yesterday's high at 1.5867 could mark a reversal of the uptrend since 1.5503, but we favor one more spike upwards, before drowning towards 1.55+. Important support is projected at 1.5730.

http://img824.imageshack.us/img824/8...pusd270910.jpg
  • #256,773
  • Sep 28, 2010 3:07pm Sep 28, 2010 3:07pm
The short term picture remains positive as the sterling continues its upward movement. So far the upward movement is limited by the resistance at 1.5820, and if broken successfully next targets will be the resistances at 1.5970, which is 61.8% Fibo retracement of the 1.7040-1.4237 drop, and 1.6720. On the downside support is seen at 1.5630, which is 50.0% Fibo retracement of the mentioned drop, followed by 1.5300, which is 38.2% Fibo retracement, and 1.5110.

Support 1.5630 1.5300 1.5110
Resistance 1.5820 1.5970 1.6720
  • #256,774
  • Sep 28, 2010 3:09pm Sep 28, 2010 3:09pm
Quoting master4forex
The pair is in an uptrend after bottoming at 1.4226. Trading is situated above the 50- and 200-day SMA, currently projected at 1.4986 and 1.5539.

Yesterday's high at 1.5867 could mark a reversal of the uptrend since 1.5503, but we favor one more spike upwards, before drowning towards 1.55+. Important support is projected at 1.5730.

http://img824.imageshack.us/img824/8...pusd270910.jpg
I'm not so sure about 1.55 area bro.. I'm think we are going to about the 1.7 area in the mid-term (the projected fibo of 161)
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  • #256,775
  • Sep 28, 2010 3:10pm Sep 28, 2010 3:10pm
20 minutes more for FOMC Member Warsh Speaks will shake the cabel
  • #256,776
  • Sep 28, 2010 3:13pm Sep 28, 2010 3:13pm
Quoting A-speculator
I'm not so sure about 1.55 area bro.. I'm think we are going to about the 1.7 area in the mid-term (the projected fibo of 161)

i think for this year it will go until 1.51 before try for 1.7 for next year.. for bullish trend wil stop.. and bearish trend will start back until april 2011 before bullish trend start back for 1.7
  • #256,777
  • Sep 28, 2010 3:17pm Sep 28, 2010 3:17pm
Quoting master4forex
i think for this year it will go until 1.51 before try for 1.7 for next year.. for bullish trend wil stop.. and bearish trend will start back until april 2011 before bullish trend start back for 1.7
If 1.6 is broken, I guess you have to rethink you analysis mate.. What make you think it will go to 1.51?
  • #256,778
  • Sep 28, 2010 3:28pm Sep 28, 2010 3:28pm
Quoting A-speculator
If 1.6 is broken, I guess you have to rethink you analysis mate.. What make you think it will go to 1.51?

cabel need do correction to bearish since to much bullish at market... that why it will turn to 1.51
  • #256,779
  • Sep 28, 2010 3:31pm Sep 28, 2010 3:31pm
Quoting master4forex
cabel need do correction to bearish since to much bullish at market... that why it will turn to 1.51
Wow.. that was the best TA I've ever read.

Thanks man.. Perhaps next time you can show it with your chart.
  • #256,780
  • Sep 28, 2010 3:33pm Sep 28, 2010 3:33pm
Quoting master4forex
i think for this year it will go until 1.51 before try for 1.7 for next year.. for bullish trend wil stop.. and bearish trend will start back until april 2011 before bullish trend start back for 1.7
I'll say this as nicely as possible... this is absolutely worthless analysis. I could put a bunch of number and dates on scraps of paper and pull them out of a hat and reach the same conclusion.

If you have actual analysis, back it up. I'm not demanding you need to post a chart or even anything technical... are there certain fundamental issues you see taking place during the months and years you make your bullish and bearish predictions? Whatever it is (if anything at all), post it. Otherwise you're just wasting space on the thread and people's time as they have to sift through rubbish to find anything useful.
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