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Cable Update (GBPUSD)

  • #264,321
  • Nov 15, 2010 3:29am Nov 15, 2010 3:29am
short @.6065
sl ~ 20 tp ~ 40
  • #264,322
  • Nov 15, 2010 3:32am Nov 15, 2010 3:32am
Quoting bbmac
Those better on patterns than me may know, is 4hr developing ionto a pennant/flag/thingmawhatsit ?

http://stockcharts.com/help/doku.php...ing_triangle_c

sure looks like an ascending trangle, which they say is a continuation bullish pattern...not that i'd know anything about it
  • #264,323
  • Nov 15, 2010 3:37am Nov 15, 2010 3:37am
Quoting Cobby
http://stockcharts.com/help/doku.php...ing_triangle_c

sure looks like an ascending trangle, which they say is a continuation bullish pattern...not that i'd know anything about it
Doesn't it have to be in an uptrend to be a continuation bullish pattern?
  • #264,324
  • Nov 15, 2010 3:40am Nov 15, 2010 3:40am
Quoting branco
Doesn't it have to be in an uptrend to be a continuation bullish pattern?
Check out the daily
  • #264,325
  • Nov 15, 2010 3:43am Nov 15, 2010 3:43am
Quoting chazzle
Check out the daily
Why? The pattern isn't forming on the daily.

Why trade 1h patterns and look at 1d trends?
  • #264,326
  • Nov 15, 2010 3:45am Nov 15, 2010 3:45am
can i phone a friend?

the description says ... usually is the answer

The ascending triangle is a bullish formation that usually forms during an uptrend as a continuation pattern. There are instances when ascending triangles form as reversal patterns at the end of a downtrend, but they are typically continuation patterns
  • #264,327
  • Nov 15, 2010 3:55am Nov 15, 2010 3:55am
Thanks for replys re that potential 4hr patterns guys, just glad I don't trade patterns - lol !! anyways, 23.6% 6181 to todays current 6039 lo confluence with 38.2% 6129 to same lo caps recovery off that current 6039 lo so far...

G/L
ex member
  • #264,328
  • Nov 15, 2010 4:06am Nov 15, 2010 4:06am
5min hidden divergence led the way at that pullback hi....will it see a wth trend follow thru now to a new lo below current 6039 ? Price Hi-Lo today still only @ 69% of it's 20day average pip range.

Finishing here for session/day...may pop back in later this afternoon, see what I missed.

G/L

http://www.easy-upload.net/fichiers/z.2010111511536.gif
ex member
  • #264,329
  • Nov 15, 2010 4:10am Nov 15, 2010 4:10am
Long at 1.6080 SL @ 1.6030

TP @ 1.6129

Will be watching carefully around 1.6100 though
Enter Signature
  • #264,330
  • Nov 15, 2010 4:11am Nov 15, 2010 4:11am
Just stopped out by 2 pips on my long and now we get this surge right after! Freakin typical
  • #264,331
  • Nov 15, 2010 4:13am Nov 15, 2010 4:13am
Quoting darrenware
Long at 1.6080 SL @ 1.6030

TP @ 1.6129
your long is in a bear paw territory......make sure that 1.6090 break clean...or else down we go again.....
  • #264,332
  • Nov 15, 2010 4:14am Nov 15, 2010 4:14am
Apologies for lagging on this reply..i'm not sure what i trade but the 50ema has been in that channel so long I'm off to the 5min or even the 1min.
Attached Image (click to enlarge)
Click to Enlarge Name: Spot FX GBP_USD (15-NOV-10).png Size: 15 KB
All systems of divination, like music itself,work through patterns.
  • #264,333
  • Nov 15, 2010 4:14am Nov 15, 2010 4:14am
Quoting Mr.Elliott
wait for it to retrace back....i dun think 1.6090 would give up that easily.... if it reach to that point....i would go short...or else on the sideline i would be!
loading some short....@1.6090
  • #264,334
  • Nov 15, 2010 4:15am Nov 15, 2010 4:15am
Quoting baggermatsch
short @.6065
sl ~ 20 tp ~ 40
stopped out

gl darrenware
  • #264,335
  • Nov 15, 2010 4:15am Nov 15, 2010 4:15am
is that the printing presses starting to roll out the fresh new greenbacks...?
  • #264,336
  • Nov 15, 2010 4:17am Nov 15, 2010 4:17am
Quoting Mr.Elliott
your long is in a bear paw territory......make sure that 1.6090 break clean...or else down we go again.....
i am at BE incase mate...it had nice momentum and knew i could possible try for quick move to BE if it continued
Enter Signature
  • #264,337
  • Nov 15, 2010 4:19am Nov 15, 2010 4:19am
Quoting darrenware
i am at BE incase mate...it had nice momentum and knew i could possible try for quick move to BE if it continued
  • #264,338
  • Nov 15, 2010 4:19am Nov 15, 2010 4:19am
Quoting baggermatsch
stopped out

gl darrenware
Sorry to hear mate....thanks though
Enter Signature
  • #264,339
  • Nov 15, 2010 4:23am Nov 15, 2010 4:23am
Serendipity !! Just as I was getting ready to finish for the session, a 5min Bullish thrust engulfing that engulfed the last 24 candles bodies on that t/f...provided a nice trigger to get long as more demand comes in around the day's current lo...

Nice set-up.

Really am done now...it had been a pretty average day my end until that.

http://www.easy-upload.net/fichiers/...1115112427.gif


Final look at 1hr, fibs of the 6181, 6152 and 6129 swings down to 6039 are plotted as dotted lines.

G/L

http://www.easy-upload.net/fichiers/...1115112230.gif
ex member
  • #264,340
  • Nov 15, 2010 4:28am Nov 15, 2010 4:28am
Its trying to push through 1.6110 (200ema on 15m)....need to watch here as there is some nice resistance.

Moved SL to +10....10 is better than nothing if it bounces of 1.6110

Its a bit of a tight squeeze between bulls and bears 1.6100 > 1.6110
Enter Signature
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