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Cable Update (GBPUSD)

  • #264,441
  • Nov 16, 2010 2:53am Nov 16, 2010 2:53am
Have only just got back...crashed out on the keys last night.

You guys are totally amazing. Thank you. A masterclass in trading using ma's as trigger. I am bookmarking these pages #17628 , 17629 as reference for future use on the thread.
All systems of divination, like music itself,work through patterns.
  • #264,442
  • Nov 16, 2010 2:56am Nov 16, 2010 2:56am
I use Simple & Consistent Fibbing Method at

http://www.forexfactory.com/showthread.php?t=222988

But i implement it on higher time frame and higher period of time. The reason is i am a midterm/longterm newbie trader.

U can PM me if there is further question

Thank u

Rgds,iqyu


Quoting Mr.Elliott
hi iqyu....your analysis is good...but it would be even better with a bit of explanation especially for a newbie like me...just IMHO....
not euphoria follower
  • #264,443
  • Nov 16, 2010 3:38am Nov 16, 2010 3:38am
Quoting iqyu5an
I use Simple & Consistent Fibbing Method at

http://www.forexfactory.com/showthread.php?t=222988

But i implement it on higher time frame and higher period of time. The reason is i am a midterm/longterm newbie trader.

U can PM me if there is further question

Thank u

Rgds,iqyu
thanks....i will...pm you for any question..
  • #264,444
  • Nov 16, 2010 3:42am Nov 16, 2010 3:42am
Hpi eases, Rpi stable but y/y Cpi ticks up...market gaps up on knee-jerk...new daily hi just above the 50% of the 6152- current daily lo 6011 move, breeching steepest descending 1hr trend line in process, to the upside.

All this and Boe's King to come !! How are you bears doing ?? Just teasing !!

Current near-term 1hr screenshot is below.

G/L

http://www.easy-upload.net/fichiers/...1116104214.gif
ex member
  • #264,445
  • Nov 16, 2010 3:47am Nov 16, 2010 3:47am
Quoting bbmac
All this and Boe's King to come !! How are you bears doing ?? Just teasing !!
Well, now we got fundamental strenght for GBP. Good news for EZ in 15 minutes will pump EU up, and then we will see GU up more than EU imho.
We got too many technical indicators all over the place, I'll guess fundies will lead the way today.
Cable now testing pre news prices...mmm nice long opportunity!
  • #264,446
  • Nov 16, 2010 3:50am Nov 16, 2010 3:50am
King's inflation letter to be published shortly,, but correction to my previous post, he actually speaks at 1030am EST but GMT (london time,) so 1530pm gmt...sorry for any confusion.

G/L
ex member
  • #264,447
  • Nov 16, 2010 3:52am Nov 16, 2010 3:52am
Quoting maurofx
Well, now we got fundamental strenght for GBP. Good news for EZ in 15 minutes will pump EU up, and then we will see GU up more than EU imho.
We got too many technical indicators all over the place, I'll guess fundies will lead the way today.
Cable now testing pre news prices...mmm nice long opportunity!

I bought the gap on close of the 1st 1min candle after data release but flat now...they say all gaps get closed so booked the profit....may get a buy the pullback op at the 5min previous highs, will see what develops.

G/L
ex member
  • #264,448
  • Nov 16, 2010 3:53am Nov 16, 2010 3:53am
been scalping this long...
Attached Image (click to enlarge)
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  • #264,449
  • Nov 16, 2010 4:02am Nov 16, 2010 4:02am
One to add to the shoulda woulda coulda file...should have faded the gap- I didn't...the gap got well and truly filled, - lol !! Down to the previous 5min swing highs breeched to upside by data react (there is some supply up there - lol !)
ex member
  • #264,450
  • Nov 16, 2010 4:05am Nov 16, 2010 4:05am
Quoting bbmac
One to add to the shoulda woulda coulda file...should have faded the gap- I didn't...the gap got well and truly filled, - lol !! Down to the previous 5min swing highs breeched to upside by data react (there is some supply up there - lol !)
Yep, together wit DP at 6080. Let's see if it breaks now. I gotta tell u I'm an intraday bull with the latest action.
  • #264,451
  • Nov 16, 2010 4:14am Nov 16, 2010 4:14am
Quoting maurofx
Yep, together wit DP at 6080. Let's see if it breaks now. I gotta tell u I'm an intraday bull with the latest action.
yeh it's beginning to look a little more bullish but it remains a mixed picture so far as peak-valley (overall price action) analysis is concerned on the t/f's of interest to me...certainly there was some demand at those breeched 5min swing highs (potential rbs) on the pullback from the current daily hi that closed the gap up on data react...but unconvincing follow thru to upside so far.

G/L
ex member
  • #264,452
  • Nov 16, 2010 4:23am Nov 16, 2010 4:23am
The trouble with being bullish right now is that there is no uptrend to enter into...even on 5min - off the data react and current daily hi this t/f has now printed that as a HH, then HL, LH and a L...

It's all a bit mixed but with a bearish biais ?

G/L
ex member
  • #264,453
  • Nov 16, 2010 4:29am Nov 16, 2010 4:29am
my imho

could be wrong

rgds,iqyu
Attached Image (click to enlarge)
Click to Enlarge Name: nov 16 1h.gif Size: 29 KB
not euphoria follower
  • #264,454
  • Nov 16, 2010 4:47am Nov 16, 2010 4:47am
Quoting bbmac
The trouble with being bullish right now is that there is no uptrend to enter into...even on 5min - off the data react and current daily hi this t/f has now printed that as a HH, then HL, LH and a L...

It's all a bit mixed but with a bearish biais ?

G/L
Price is going down, it is true. But I think demand in this zone will pop the pair up. As I said before, there's case for bulls and bears, no easy zone to take a trade.
  • #264,455
  • Nov 16, 2010 4:58am Nov 16, 2010 4:58am
Quoting iqyu5an
my imho

could be wrong

rgds,iqyu
personally I agree........
  • #264,456
  • Nov 16, 2010 4:58am Nov 16, 2010 4:58am
Quoting maurofx
Price is going down, it is true. But I think demand in this zone will pop the pair up. As I said before, there's case for bulls and bears, no easy zone to take a trade.
There was a H&S forming yesterday with a projection to 1.5960 or so and we're beneath the neckline now...
  • #264,457
  • Nov 16, 2010 5:03am Nov 16, 2010 5:03am
New daily lo achieved on the post data react hi sell off...after false break to the upside....price breeches the 1hr ascending trend line again and Daily S1 ...4hr shows the potential support factors down to the recent 5950 daily swing lo...in this zone the Weekly S1 and Daily S2 also 5965-71 area. Of the major 1hr + swings to 6181 from 5950 only 76.4% fib of that move remains unbreeched, (6005.)

G/L

http://www.easy-upload.net/fichiers/z.2010111612453.gif
ex member
  • #264,458
  • Nov 16, 2010 5:09am Nov 16, 2010 5:09am
that seemed to take forever and a day.... closed half here. depending what happens this area w/WS1, will see about the MPP target next, break back above S1 I'll close and wait next set up.


Quoting Fudomyo

So far the Monthly Open is holding nicely as support, but I'm looking for 1600 to be tested.

If we get below 1600, next stop is MPP 5930.

Considering GU touched the weekly descending TL last week, a drop was in order, how deep now is the question. The 4H 200EMA is on the MPP so it's a good target for a bounce under 1600 before continuing up.
  • #264,459
  • Nov 16, 2010 5:19am Nov 16, 2010 5:19am
Finishing here for day as price reaches bottom of the previous 1hr/4hr swing lo zone leading down to 5984 and a 50% extension of yesterday's hi-lo...that 76.4% 5950-6181 @ 6005 is now history... 6181, 6152, 6123 and 6085 look like the most significant swing 1hr highs to the current lo re fibs on that t/f.

Close of 1040/1030am gmt 5/15min bearish thrust candles below the then daily lo gave a hi-probability opp to get short-profit booked now though as finsihing flat.

Wonder if any demand exists in these previous swing lo zones, the lower of the 2 being a previous minor daily fractal swing lo also..

U.s data later.

Near-term 1hr screenshot is below.

G/L

http://www.easy-upload.net/fichiers/...1116121641.gif
ex member
  • #264,460
  • Nov 16, 2010 5:25am Nov 16, 2010 5:25am
Quoting bbmac
Finishing here for day as price reaches bottom of the previous 1hr/4hr swing lo zone leading down to 5984 and a 50% extension of yesterday's hi-lo...that 76.4% 5950-6181 @ 6005 is now history... 6181, 6152, 6123 and 6085 look like the most significant swing 1hr highs to the current lo re fibs on that t/f.
Finishing here might be the wise thing to do. Think I'll join you. Haven't quite hit 50% off the DO, so has more room to drop. PA wasn't simple today, time for a break.
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