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Cable Update (GBPUSD)

  • #261,501
  • Oct 22, 2010 4:05am Oct 22, 2010 4:05am
Might be a bit premature but this is where we are on a monthly.

If this was a smaller tf what would be the play?

I'm short

a daily/weekly close below 1.5710 would be nice though

Attached Image (click to enlarge)
Click to Enlarge Name: gu.GIF Size: 30 KB
Mind over matter..I don't mind and you don't matter.
  • #261,502
  • Oct 22, 2010 4:16am Oct 22, 2010 4:16am
Quoting JuliusCeasar
If this was a smaller tf what would be the play?

I'm short


Attachment
I see no trading edge from that pa pattern if it were on a lower t/f...others may be different..
ex member
  • #261,503
  • Oct 22, 2010 4:20am Oct 22, 2010 4:20am
Another hi-probability play off the 5min bullish divergence set-up at that potential support zone...obviously just small target scalps long as it is counter trend., nice 5min bullish thrust engulf trigger and 15min closed as pinbar candle...but clearly demand in that zone leading down to weds's lo....50% of the intraday move down capping the upside so far on this latest pullback..

G/L

http://www.easy-upload.net/fichiers/...1022111841.gif
ex member
  • #261,504
  • Oct 22, 2010 4:23am Oct 22, 2010 4:23am
Done for the day/week. Have a good w/e.

Current 1hr screenshot in respect of potential supp/res/sbr factors on that t/f is below.

G/L

http://www.easy-upload.net/fichiers/...1022112329.gif
ex member
  • #261,505
  • Oct 22, 2010 4:31am Oct 22, 2010 4:31am
thanks bbmac
  • #261,506
  • Oct 22, 2010 4:36am Oct 22, 2010 4:36am
Have a good one bbmac


Quoting bbmac
Done for the day/week. Have a good w/e.

Current 1hr screenshot in respect of potential supp/res/sbr factors on that t/f is below.

G/L

http://www.easy-upload.net/fichiers/...1022112329.gif
Enter Signature
  • #261,507
  • Oct 22, 2010 4:50am Oct 22, 2010 4:50am
Quoting bbmac
I see no trading edge from that pa pattern if it were on a lower t/f...others may be different..
I will be sure to post an updated one in November.

But by then the ideal shorting areas will be gone

(1.57 as i post this)
Mind over matter..I don't mind and you don't matter.
  • #261,508
  • Oct 22, 2010 7:10am Oct 22, 2010 7:10am
Quoting darrenware
Long for 30 pips @ 1.5683

TP 1.5713
Now short from 1.5710 TP at 1.5675 x2


Wake Up everyone is everyone asleep today?
Enter Signature
  • #261,509
  • Oct 22, 2010 7:20am Oct 22, 2010 7:20am
My Chart
Attached Image (click to enlarge)
Click to Enlarge Name: Spot FX (mini) GBP_USD (-).png Size: 28 KB
Enter Signature
  • #261,510
  • Oct 22, 2010 7:28am Oct 22, 2010 7:28am
Lets see what the hourly close will bring to the table whether for shorts
  • #261,511
  • Oct 22, 2010 8:09am Oct 22, 2010 8:09am
Well, I am on the bears side, we are only in a sideways market due to volumes traded.

Quoting Pipwanderer
Lets see what the hourly close will bring to the table whether for shorts
  • #261,512
  • Oct 22, 2010 9:22am Oct 22, 2010 9:22am
as usually crazy sell off friday.. still short..
  • #261,513
  • Oct 22, 2010 9:30am Oct 22, 2010 9:30am
Quoting uncletrumpet
Well, I am on the bears side, we are only in a sideways market due to volumes traded.
What really informs your short because,I can see double bottom on 4 h TF and GU could find support there and retrace up to 70 pips before resuming the down again.If I may ask, is pounds fundamentally weak ?
With patience and discipline,you move beyond the sky
  • #261,514
  • Oct 22, 2010 9:52am Oct 22, 2010 9:52am
Quoting chazzle
(15636) No thats too cheap ...all the best Duce
Almost. Are we gonna get this deal done today? I need some scratch for the weekend.
Si vis pacem, para bellum.
  • #261,515
  • Oct 22, 2010 9:55am Oct 22, 2010 9:55am
Quoting Makeveli
as usually crazy sell off friday.. still short..
Absolutely crazy or what.
  • #261,516
  • Oct 22, 2010 10:05am Oct 22, 2010 10:05am
The daily is given his order, the 4 hour and the 1 hour will have to obey, U shall see for yourself.

Quoting biodunola07
What really informs your short because,I can see double bottom on 4 h TF and GU could find support there and retrace up to 70 pips before resuming the down again.If I may ask, is pounds fundamentally weak ?
  • #261,517
  • Oct 22, 2010 10:10am Oct 22, 2010 10:10am
the first stop could be 1.5625 (17th sept weekly close)
then second stop 1.5582 (13th August weekly close)

1.5523 is the real support, write all these numbers down cause they will be speaking into next week, welcome aboard the bears party

The way i see it the latter one could be our real support for today

Quoting uncletrumpet
Well, I am on the bears side, we are only in a sideways market due to volumes traded.
  • #261,518
  • Oct 22, 2010 10:12am Oct 22, 2010 10:12am
Quoting uncletrumpet
The daily is given his order, the 4 hour and the 1 hour will have to obey, U shall see for yourself.
We shall see for ourself, yes.
  • #261,519
  • Oct 22, 2010 10:20am Oct 22, 2010 10:20am
1.5650 is the only stumbling block that we have, but may it be our stepping stone.

Quoting witsnpips
We shall see for ourself, yes.
  • #261,520
  • Oct 22, 2010 10:26am Oct 22, 2010 10:26am
Quoting uncletrumpet
1.5650 is the only stumbling block that we have, but may it be our stepping stone.
Indeed, lets see what happens.
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