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Cable Update (GBPUSD)

  • #260,641
  • Oct 14, 2010 10:51pm Oct 14, 2010 10:51pm
Quoting bbakker
In your magic crystal ball or through your non-existant chart that backs up your analysis...

This room is becoming worse by the day. No more analysis backed up by charts... just shouting numbers out seems to be the order of the day.

My farewell clock is ticking...
yes, new here. Sorry bout that. Here's a pic of my GU weekly chart. The purple vertical line is next weeks line direct from the crystal ball... the ball does have a crack in it though and is often wrong so take it with a grain or two of salt...

Just something goofy I was playing around with. Actually I use the usual stuff, S&R, fibs, pivots etc. and found this thread where that stuff is used also instead of a bunch of indicators. Been enjoying following along recently...
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  • #260,642
  • Oct 15, 2010 12:16am Oct 15, 2010 12:16am
possible sell point at the blue squere 6035
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  • #260,643
  • Oct 15, 2010 12:17am Oct 15, 2010 12:17am
Good day to you,

No longer term shorts to be undertaken unless we break back below 1.5950. We remain in bullish territory at present. There is a strong support band between 1.5980 and 1.6000.

Price is currently sitting on the high of last week @ 1.6015/6 - this level is holding as resistance for now. A break back above -then 1.6066 will be tested again. For any further downward movement, we need to break back below the daily open @ 1.6007.

It however is going to take some effort to get through the 1.6000 to 1.5980 band at this point. Defended heavily. Should this happen and 1.5980 can serve as resistance, 1.5950 will be tested with a possible continuation to 1.5906.

I am afraid that all things are pointing towards a move higher - at this point.

Trade well!

Regards
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  • #260,644
  • Oct 15, 2010 12:36am Oct 15, 2010 12:36am
Quoting TauTrader

I am afraid that all things are pointing towards a move higher - at this point.
Why does this make you afraid?
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #260,645
  • Oct 15, 2010 12:37am Oct 15, 2010 12:37am
if we lookat at wawes, than we can wait small pull back about 1.5955, then goes up, but fundamental pair looks flat. good morning all.
  • #260,646
  • Oct 15, 2010 12:47am Oct 15, 2010 12:47am
There are some critical news today that may affect to our trading. In my views, if almost the day in a week is strongly bullish, the last day of the week may be bearish. Be carefully.
  • #260,647
  • Oct 15, 2010 12:52am Oct 15, 2010 12:52am
Quoting Pham
There are some critical news today that may affect to our trading. In my views, if almost the day in a week is strongly bullish, the last day of the week may be bearish. Be carefully.
1. The trend is your friend. Follow the trend until it changes.
2. News doesn't happen until NY open.
3. There is still room skyward until USD finds support.

Good luck trading my friend.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #260,648
  • Oct 15, 2010 12:56am Oct 15, 2010 12:56am
Quoting Magix
Why does this make you afraid?
Don't start with me.... Good point though.

Magix 1 - TT 0
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  • #260,649
  • Oct 15, 2010 12:58am Oct 15, 2010 12:58am
Quoting Magix
1. The trend is your friend. Follow the trend until it changes.
2. News doesn't happen until NY open.
3. There is still room skyward until USD finds support.

Good luck trading my friend.
Tell me somethings about it please. Thank you.
  • #260,650
  • Oct 15, 2010 1:02am Oct 15, 2010 1:02am
Quoting TauTrader
Don't start with me.... Good point though.

Magix 1 - TT 0
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #260,651
  • Oct 15, 2010 1:04am Oct 15, 2010 1:04am
Quoting Pham
Tell me somethings about it please. Thank you.
Charts posted previously.

Check out the weekly trendline on USDX
http://www.forexfactory.com/showpost...stcount=260616
http://www.forexfactory.com/showpost...stcount=260617

We are close, and anything can happen...but the bull trend on cable IMO is still intact.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #260,652
  • Oct 15, 2010 1:16am Oct 15, 2010 1:16am
Quoting Magix
Charts posted previously.

Check out the weekly trendline on USDX
http://www.forexfactory.com/showpost...stcount=260616
http://www.forexfactory.com/showpost...stcount=260617

We are close, and anything can happen...but the bull trend on cable IMO is still intact.
Thx Magixn, as usual nice and simple explanations.
Thx Kill, great idea to put an ema 200 in the RSI-box, but it seems not be possible at fxpro. Someone any ideas ? Thx
  • #260,653
  • Oct 15, 2010 1:40am Oct 15, 2010 1:40am
I'm re-loading the page to see if anyone is saying anything....
  • #260,654
  • Oct 15, 2010 1:42am Oct 15, 2010 1:42am
Here's how i see it.

It will try to reach higher edge of the channel where it intersects with fib 161 at 6095 .
From there i'll short.
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  • #260,655
  • Oct 15, 2010 1:53am Oct 15, 2010 1:53am
Quoting TauTrader
Don't start with me.... Good point though.

Magix 1 - TT 0
it was actually a good point
emotion is the emeny like my spelling

nice chart was thinking the same
  • #260,656
  • Oct 15, 2010 1:56am Oct 15, 2010 1:56am
few candles look a bit bearish 15m
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  • #260,657
  • Oct 15, 2010 1:58am Oct 15, 2010 1:58am
Quoting chazzle
few candles look a bit bearish 15m
That is just a little sideways consolidation other time frames might be looking good. Are you scalping the frankie?
  • #260,658
  • Oct 15, 2010 2:34am Oct 15, 2010 2:34am
Quoting huskyboy
Thx Magixn, as usual nice and simple explanations.
Thx Kill, great idea to put an ema 200 in the RSI-box, but it seems not be possible at fxpro. Someone any ideas ? Thx
i am reqouting myself, sorry, but job is finished, ema 2 ema 47 ema 200 all in the RSI box, looks interesting, prices bounces on ema 47(green lines), rsi bounces on ema 200 (yellow lines). Lets test this one.
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  • #260,659
  • Oct 15, 2010 2:35am Oct 15, 2010 2:35am
Quoting Sunsi
Could it be a bullflag devoloping?

Looking like it`s setting up for a breakout when London opens. Any thoughts?
MACD on 4h.
Holding over 23.6 Fib are also factors who comes into play.

As long as it holds over 1.5970. I wouldent be surprised to see it move higer today. Time for some sleep before London Open.
Seems like the bullflag played out quite nicely! I was short in this pair until I saw this, I changed my position, and made 40pips x2 the last hours. Not able to watch market the next hours. So exiting here.
Have a nice day, ill be back in a few hours!

Have pulled two allnighter since Sunday =/ Man looking forward to the market to close, so i can finaly sleep.!
  • #260,660
  • Oct 15, 2010 3:26am Oct 15, 2010 3:26am
Good day to you,

Carefully observe PA around the 1.6054 number. If price is rejected here, we may move back to 1.6017. If 1.6054 becomes support, price will test 1.6066 and peak behind the door. If this clears - the target becomes 1.6114 / 1.6117.

I am leaving to go up the coast for business. See you either later today, or Monday.

Trade well

Regards
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