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Cable Update (GBPUSD)

  • #257,361
  • Sep 30, 2010 8:16am Sep 30, 2010 8:16am
Quoting dag777
uncertainty is high, i closed for 14 pips,

btw, this chart looks identical to mine

Yeah it may be a bit messy, but there is not a lot going for the shorts. Don't get frightened by a few bear bars on the 5.

5838 will open the door to 5869
  • #257,362
  • Sep 30, 2010 8:20am Sep 30, 2010 8:20am
Quoting wormboy
careful with that cable short bro. the drop found support at the monthly's.
just a heads up
you still long?
  • #257,363
  • Sep 30, 2010 8:22am Sep 30, 2010 8:22am
Quoting wormboy
careful with that cable short bro. the drop found support at the monthly's.
just a heads up
Cheers bro, I see what you mean but when a symetrical triangle pattern is broken, it takes alot power to reverse that pattern. I think there's continuation in this move, she's taking a breather.

We'll see.
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #257,364
  • Sep 30, 2010 8:22am Sep 30, 2010 8:22am
Quoting cloggie
Yeah it may be a bit messy, but there is not a lot going for the shorts. Don't get frightened by a few bear bars on the 5.

5838 will open the door to 5869
GOOD TO SEE YOU..
was waiting for you to explain the sudden drop..
  • #257,365
  • Sep 30, 2010 8:23am Sep 30, 2010 8:23am
Quoting avalonyu
you still long?
I cleared half a few hours ago for +81 & the remaining trade position got stopped for +2.
I loaded up again at the monthly supp/res & got filled @801.
Let's see how this goes
Thank You
  • #257,366
  • Sep 30, 2010 8:25am Sep 30, 2010 8:25am
Good day to you,

Sideways channel for the last couple of days. False break twice to topside, once to bottom. 1.5827/8 is the exact centre of the past week between bullish and bearish. No mans land.

A continuation for long positions will be 1.5827/8 now become support, with a break above 1.5872 as further support. 1.5801/00 holds the key for any further downmove - should this become resistance - 1.5761 will be the daily close area.

The weekly scenario is flat neutral at the current level, but slightly bullish on daily. Neutral for daily on 1.5801, but then bearish for the week, but still bullish longer term....

Crazy.

Trade well

Regards
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  • #257,367
  • Sep 30, 2010 8:26am Sep 30, 2010 8:26am
Quoting cloggie
Yeah it may be a bit messy, but there is not a lot going for the shorts. Don't get frightened by a few bear bars on the 5.

5838 will open the door to 5869
Hiya cloggie,

it was hesitant at 1.5835 and i thought it would test one more time pivot or below, thought i could get another entry at same price as before,
plan don´t come through,

cloggie, do you believe the rumor of large sell order of eurgbp at LDN fix?
  • #257,368
  • Sep 30, 2010 8:26am Sep 30, 2010 8:26am
Quoting cloggie
Yeah it may be a bit messy, but there is not a lot going for the shorts. Don't get frightened by a few bear bars on the 5.

5838 will open the door to 5869
This is a big bear bar on the h4 tho and with those gartleys across the board, longs scare me.. I could be totally wrong tho and that h4 box (on the chart) seems very messy. For now, I will stay clear of the G/U.
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  • #257,369
  • Sep 30, 2010 8:29am Sep 30, 2010 8:29am
Quoting Bull_Bear
Cheers bro, I see what you mean but when a symetrical triangle pattern is broken, it takes alot power to reverse that pattern. I think there's continuation in this move, she's taking a breather.

We'll see.
the gbp is in a channel..went to the the top of the range and completely fell to the bottom range of channel..the body is small i know it aint closed yet but it looking as the body is decreasing as it falls..

tomorrow gonna be interesting..i have no idea thou for sure but i thought id share this with yah
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  • #257,370
  • Sep 30, 2010 8:29am Sep 30, 2010 8:29am
Quoting Bull_Bear
Cheers bro, I see what you mean but when a symetrical triangle pattern is broken, it takes alot power to reverse that pattern. I think there's continuation in this move, she's taking a breather.

We'll see.
okay bro
Thank You
  • #257,371
  • Sep 30, 2010 8:30am Sep 30, 2010 8:30am
Quoting PipChick
This is a big bear bar on the h4 tho and with those gartleys across the board, longs scare me.. I could be totally wrong tho and that h4 box (on the chart) seems very messy. For now, I will stay clear of the G/U.

If the monthly gives, I may join the shorters, for now I am keeping my long. It is Cable though and this could go either way. Let's see what NY wants.

10900 on DOW and 1145 on es will be the key here for the dollar half of the pair.

We got quarterly window dressing on the equity funds and 20Bn of Pomo coming up, fundamentally there is a lot of support for longs, then again this morning cable ignored the whole thing and went purely technical.
  • #257,372
  • Sep 30, 2010 8:31am Sep 30, 2010 8:31am
Quoting TauTrader
Good day to you,

Sideways channel for the last couple of days. False break twice to topside, once to bottom. 1.5827/8 is the exact centre of the past week between bullish and bearish. No mans land.

A continuation for long positions will be 1.5827/8 now become support, with a break above 1.5872 as further support. 1.5801/00 holds the key for any further downmove - should this become resistance - 1.5761 will be the daily close area.

The weekly scenario is flat neutral at the current level, but slightly bullish on daily. Neutral for daily on...
sup bru..i see u still at it!! ..hehe
great analysis as usual..
  • #257,373
  • Sep 30, 2010 8:32am Sep 30, 2010 8:32am

Quoting cloggie
If the monthly gives, I may join the shorters, for now I am keeping my long. It is Cable though and this could go either way. Let's see what NY wants.

10900 on DOW and 1145 on es will be the key here for the dollar half of the pair.
  • #257,374
  • Sep 30, 2010 8:33am Sep 30, 2010 8:33am
Quoting uksnowman
Looking at around 1.5838 area to enter short. Some confluence from the diamond TL, 50fib of hourly candle (38 fib from today's high) and 20MA on hourly chart.
Entered 1.5828 and closed at lower diamond tl for +15. Decided to reverse here for a buy. Maybe too early, just ducking and diving for a few pips here and there while the big boys fight it out!
  • #257,375
  • Sep 30, 2010 8:34am Sep 30, 2010 8:34am
Quoting wormboy
I cleared half a few hours ago for +81 & the remaining trade position got stopped for +2.
I loaded up again at the monthly supp/res & got filled @801.
Let's see how this goes
Nice work... wish I had been awake to do the same, but still holding my longs.
check out my blog: forexmademillionaire dot com
  • #257,376
  • Sep 30, 2010 8:35am Sep 30, 2010 8:35am
Quoting cloggie
If the monthly gives ...
This will take some doing if it's ever going to happen cloggs. It ends today & sure as hell looks to be continuing up for a while longer imo
Thank You
  • #257,377
  • Sep 30, 2010 8:35am Sep 30, 2010 8:35am
theres buying happening
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  • #257,378
  • Sep 30, 2010 8:35am Sep 30, 2010 8:35am
Quoting PipChick

I gave the levels I am watching to validate my buys in an earlier post, 5838 for 5869
  • #257,379
  • Sep 30, 2010 8:36am Sep 30, 2010 8:36am
Quoting JuliusCeasar
Still think buying dips is the play

It went to 1.5715 the other day and didn't breach anything in the bigger scheme of things

but of course i could be wrong
It is certainly, or has been that type of market ie generally bullish on dips.....the drop down from 5921 makes things a little unclearer however. Just gotta play the edghe as it sets-up whichever way.

G/L
ex member
  • #257,380
  • Sep 30, 2010 8:36am Sep 30, 2010 8:36am
Quoting wormboy
This will take some doing if it's ever going to happen cloggs. It ends today & sure as hell looks to be continuing up for a while long imo

I am with you, that's why I spend 20 posts defending my long here. Time will tell, we could do with a little help from our cousins across the pond on the equity side.
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