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Cable Update (GBPUSD)

  • #260,661
  • Oct 15, 2010 3:30am Oct 15, 2010 3:30am
One last push to 16070 for 100 pip day so everyone can go back and enjoy their weekend.

May not be happening, wondering why there's a nice flat top and discovered the bat.
Attached Image
  • #260,662
  • Oct 15, 2010 3:54am Oct 15, 2010 3:54am
im extending my target to 1.6525 area
then look for reversal..back down

1.6525 could been seen end of month target assuming this weekly move a fair bit up
  • #260,663
  • Oct 15, 2010 4:04am Oct 15, 2010 4:04am
Quoting nAVIN2007
im extending my target to 1.6525 area
then look for reversal..back down

1.6525 could been seen end of month target assuming this weekly move a fair bit up
nice, i must admit, nice
  • #260,664
  • Oct 15, 2010 4:13am Oct 15, 2010 4:13am
Quoting nAVIN2007
im extending my target to 1.6525 area
then look for reversal..back down

1.6525 could been seen end of month target assuming this weekly move a fair bit up

Looking at something like that for the longer term, I'm sure many are looking at it. Now that it broke the high.
Attached Image (click to enlarge)
Click to Enlarge Name: dailyabcd.gif Size: 11 KB
  • #260,665
  • Oct 15, 2010 4:15am Oct 15, 2010 4:15am
Quoting cannarek
nice, i must admit, nice
thanks buddy..that means something from a trader like yourself..i believe we are in a range and i go in early so i shouldnt be clouded by the pips gained and simply follow the charts..i think it has good probability assuming weekly can remain its bullish stance

good fortune in yur trades

if lines breach i shall rethink
Attached Image (click to enlarge)
Click to Enlarge Name: chart2.jpg Size: 125 KB
  • #260,666
  • Oct 15, 2010 4:19am Oct 15, 2010 4:19am
  •  samirb
  • | Joined Nov 2009 | Status: Investing is simple, but not easy. | 247 Posts
Quoting nAVIN2007
im extending my target to 1.6525 area
then look for reversal..back down

1.6525 could been seen end of month target assuming this weekly move a fair bit up

Good day,
how you doing bro,

I m looking for this one

Good luck in your trades
Attached Image (click to enlarge)
Click to Enlarge Name: weekly gartley.png Size: 56 KB
  • #260,667
  • Oct 15, 2010 4:19am Oct 15, 2010 4:19am
Quoting trending
Looking at something like that for the longer term, I'm sure many are looking at it. Now that it broke the high.
do yourself a favour to project that kind of target u need to be looking at a bigger time scale..u cannot forecast such targgets of a dailly unless its a pattern formation.. it also requires great skill

look at monthly or weekly

Quoting samirb
Good day,
how you doing bro,

I m looking for this one

Good luck in your tradeshttp://cdn.forexfactory.com/images/s...m/thumbsup.gif
great example good timing buddy
  • #260,668
  • Oct 15, 2010 4:27am Oct 15, 2010 4:27am
Quoting nAVIN2007
do yourself a favour to project that kind of target u need to be looking at a bigger time scale..u cannot forecast such targgets of a dailly unless its a pattern formation.. it also requires great skill

look at monthly or weekly



great example good timing buddy
Samir just posted the pattern. Its a gartley.
  • #260,669
  • Oct 15, 2010 4:27am Oct 15, 2010 4:27am
Quoting nAVIN2007
thanks buddy..that means something from a trader like yourself..i believe we are in a range and i go in early so i shouldnt be clouded by the pips gained and simply follow the charts..i think it has good probability assuming weekly can remain its bullish stance

good fortune in yur trades

if lines breach i shall rethink
thanks again i would say if the 1.67-1.72 is broken on weekly - we could say interim double bottom low was in place. lets see and be ready as always to join stronger side of market
  • #260,670
  • Oct 15, 2010 4:38am Oct 15, 2010 4:38am
Hi Bro and Sist .....

Happy Friday To You All
http://www.forexfactory.com/showpost...&postcount=789

Rgds,Iqyu

October-December :http://www.forexfactory.com/showpost...&postcount=746 ?
not euphoria follower
  • #260,671
  • Oct 15, 2010 4:50am Oct 15, 2010 4:50am
Quoting cannarek
thanks again i would say if the 1.67-1.72 is broken on weekly - we could say interim double bottom low was in place. lets see and be ready as always to join stronger side of market
I agree..hence the buy bias

Quoting trending
Samir just posted the pattern. Its a gartley. http://cdn.forexfactory.com/images/s.../yim/happy.gif
  • #260,672
  • Oct 15, 2010 5:03am Oct 15, 2010 5:03am
Quoting iqyu5an
Hi Bro and Sist .....

Happy Friday To You All
http://www.forexfactory.com/showpost...&postcount=789

Rgds,Iqyu

October-December :http://www.forexfactory.com/showpost...&postcount=746 ?

keep the good work
Winning isn't Everything...Winning is THE ONLY THING
  • #260,673
  • Oct 15, 2010 5:47am Oct 15, 2010 5:47am
Hi,

As the b-c topped out at the 138% extension of the a-b move, so the pullbaclk of b-c move found fresh demand at the 38.2% of that b-c move at point d and has since gone on to see new highs above point c. The move probably targets the fib extension zone of the c-d move and the 127-138-161.8% fib extensions of that c-d move are shown below.

Nearer at hand yesterday's hi continues to see supply - Weekly R1 and a previous daily t/f swing hi from feb of this year at that high, this following a double touch pullback at yesterday's lows around the 23.6% of the 5668-6065 move. Above here and Dly R1 is @ 6087 area with Weekly R2 and Daily R2 pivots at 6177 and 6165 respectively. 76.4% of the 6876-4229 move is @ 6252 area and a weekly descending trend line plus the monthly descennding trend line come through around there and a little higher.

G/L
Attached Image
ex member
  • #260,674
  • Oct 15, 2010 5:55am Oct 15, 2010 5:55am
Hello fellas,

my fundamental view until next fed meeting (3. Nov) is that buying pressure will
last.I believe we get similar situation as we had with QE1.
Until fed announces when and how big QE2 will be, traders buy everything and sell dollar.Estimates are from 500 billion to 1,2 trillion.
In the moment of QE2 release much will be priced in,
I expect another spike then followed by the great sell off afterwards.
Fundamentals like possible BOJ action and Yuan policy (G20) will also have a big impact on pa the next weeks.
Watch out for heli ben 12.15 gmt. If he gives the right words market will be very volatile.
For me until 3. Nov is still buying on retraces as all the last weeks.
Possible targets E/U 1.4450-4500, G/U 1.65, imo. (I could be completely wrong, though)

Wish everybody a nice weekend

  • #260,675
  • Oct 15, 2010 5:57am Oct 15, 2010 5:57am
The potential resistance factors discussed in my post above on the weekly time frame and above the current Hi are shown on the weekly screenshot below

G/L

http://www.easy-upload.net/fichiers/...1015125735.jpg
ex member
  • #260,676
  • Oct 15, 2010 6:27am Oct 15, 2010 6:27am
Quoting pip4master
The patern for today look like yesterday. Once the high price reached the cabel go down back to lower level before go back to high level. What you all thinking about it. Think for 1.6000 level .
On h1, if 1.6032 or 1.6020 holds and we test the highs again, we will get a cup and handle formation forming, which is a bullish sign! This pattern will only complete if we break above the highs of today!
  • #260,677
  • Oct 15, 2010 6:28am Oct 15, 2010 6:28am
relax everybody...
Join My Signal On Telegram at @forextradingforlivingsignal
  • #260,678
  • Oct 15, 2010 6:28am Oct 15, 2010 6:28am
Despite my other chart I'm trying to learn the right way to do this so I would see it at strong resistance right now right?
Attached Image (click to enlarge)
Click to Enlarge Name: guresistance.gif Size: 19 KB
  • #260,679
  • Oct 15, 2010 6:43am Oct 15, 2010 6:43am
Next week could prove to be very pivotal for the GBP. Easing is coming for them also and next weeks data and releases could prove to be very dovish causing a drop off in the GBP gains.
Today's zone = Tomorrow's opportunity!
  • #260,680
  • Oct 15, 2010 6:44am Oct 15, 2010 6:44am
Short_6042, SL6068 TP 1,6


I know it is little bit risky, but it is friday so.... (but will loads long on good price)
reasons:
Could be double top
now sitting on upward TL, but on lower TF was broken
it is friday,long`s don`t want to be in trade, even before news... so some profit taking....

time will tell....
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