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Cable Update (GBPUSD)

  • #265,121
  • Nov 24, 2010 6:04am Nov 24, 2010 6:04am
Quoting naboo
looking at the action the way i'm reading it is that buyers are trying but unable to break through... need that 15805 area properly broken and form support otherwise sellers will take it southsville with haste
Isn't there a song called ''''''DOWN TOWN''''''
  • #265,122
  • Nov 24, 2010 6:07am Nov 24, 2010 6:07am
Quoting naboo
looking at the action the way i'm reading it is that buyers are trying but unable to break through... need that 15805 area properly broken and form support otherwise sellers will take it southsville with haste
I think 15840 area is the one to watch...
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  • #265,123
  • Nov 24, 2010 6:07am Nov 24, 2010 6:07am
Isn't there a song called ''''''DOWN TOWN''''''http://cdn.forexfactory.com/images/s...yim/tongue.gif

indeed
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  • #265,124
  • Nov 24, 2010 6:09am Nov 24, 2010 6:09am
Quoting z3r0
Hey Magix, scuba trader? why still trolling? Listen why can't you try to understand what happened?
Magix see, I was indeed with a bull sentiment but my idea was mainly this one [here] simple and plausible. play the triangle sell @ resistance, buy @ support and let it break. Now the problem is that you got all offended when I started analysing the market to pinpoint whether or not to add more. look this one how I was trading [here]
Once...
Quit being such a pathetic little prick.

Those of us that show up here to offer our analysis do so for free and out of good nature, not to watch others have their asses handed to them in market.

I offered up an idea of what I saw on my chart, you continued to challenge me and others and even worse the immediate and current trend. You got served by market and ended up looking like a ass here.

Dust yourself off, take your lumps and move on.

This is a big forum and an even bigger market. Take what you can from those kind enough to offer and shake what you can from market.

And seriously here champ, we prolly ain't gunna be taking any long windy walks together, so if you can't learn to ignore my comments and study my charts, it's best that you find and take full utilization of the ignore feature that is offered here at the factory.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #265,125
  • Nov 24, 2010 6:11am Nov 24, 2010 6:11am
I think 15840 area is the one to watch...

hope you're right there chaz.. bit of indecision right now, but bears holding firm and throwing punches back though in this area
  • #265,126
  • Nov 24, 2010 6:15am Nov 24, 2010 6:15am
I love you
k
All systems of divination, like music itself,work through patterns.
  • #265,127
  • Nov 24, 2010 6:16am Nov 24, 2010 6:16am
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some of you hardcore cable dudes might like this
  • #265,128
  • Nov 24, 2010 6:18am Nov 24, 2010 6:18am
Quoting kaspopsicle
I love you
k


Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #265,129
  • Nov 24, 2010 6:22am Nov 24, 2010 6:22am
Cable finds support @ the 138% fib extension of the recent daily swing 5835-6093 and again at the base of the 4hr descending channel...some strong buying there with bullish divergence patterns5 min - 1hr (1hr shown below...this after the 1hr hidden divergence earlier from the Daily Pivot area.) Recovery somewhat curtailed at the moment at same daily pivot etc area that saw the selling earlier this morning and the further leg down to current 5741 Lo.

G/L

http://www.easy-upload.net/fichiers/...1124152155.gif
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ex member
  • #265,130
  • Nov 24, 2010 6:28am Nov 24, 2010 6:28am
very informative and helpful chartist/analysisisists..thanks

got rules to abide which have overall not let me down for some time now,by but maybe in time will learn a bit more to tweak them based on such tech analysis etc..
  • #265,131
  • Nov 24, 2010 6:32am Nov 24, 2010 6:32am
Checking out the trade relations on the 4 majors, it would seem they are all playing the 15m chart as the relevant.

Falling back to the support cradle will put the GBP pairs back to daily roll price, and from here might just trigger back to long side to close on the M15 200EMAs, or more immediate support can be found on the M5 for longside trigger to complete the patterns.

I will be away from market today, and for all intents and purposes, don't believe I am going to miss a whole lot.

I only have one live trade in action and will cut my shorts off if we confirm long chart on the M15.
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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #265,132
  • Nov 24, 2010 6:32am Nov 24, 2010 6:32am
Below current Lo 5687-46 is the 1.618% fib extension of the recent daily swing 5835-6093 as well as a previous 4hr/daily/minor weekly swing lo zone and 76.4% 5503-6297, 61.8% 5296-same 6297 Hi.

G/L
ex member
  • #265,133
  • Nov 24, 2010 6:36am Nov 24, 2010 6:36am
major tussle at the 15805-10 area.. the grizzlies just aint having it..
  • #265,134
  • Nov 24, 2010 6:40am Nov 24, 2010 6:40am
My bearish bias is going...No M15 candle closing below EMA20 for 2 hrs
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  • #265,135
  • Nov 24, 2010 6:43am Nov 24, 2010 6:43am
Quoting Magix

I only have one live trade in action and will cut my shorts off if we confirm long chart on the M15.
Agreed, and I'll cut my trousers off ...
  • #265,136
  • Nov 24, 2010 6:45am Nov 24, 2010 6:45am
Quoting chazzle
Agreed, and I'll cut my trousers off ...
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #265,137
  • Nov 24, 2010 6:48am Nov 24, 2010 6:48am
Checking out the trade relations on the 4 majors, it would seem they are all playing the 15m chart as the relevant.

@ magix...
how do you suss which TF is a priority (for institution/bigger fish i assume)? i also assume this alternates periodically?


cheers

bears ahead on points
  • #265,138
  • Nov 24, 2010 6:49am Nov 24, 2010 6:49am
Quoting Magix
Checking out the trade relations on the 4 majors, it would seem they are all playing the 15m chart as the relevant.

Falling back to the support cradle will put the GBP pairs back to daily roll price, and from here might just trigger back to long side to close on the M15 200EMAs, or more immediate support can be found on the M5 for longside trigger to complete the patterns.

I will be away from market today, and for all intents and purposes, don't believe I am going to miss a whole lot.

I only have one live trade in action and will cut my shorts...
as far as i'm concerned you have got there and you're going . Have good day.Magix
Always thanks 4 your help. Very worthy man, you.
k
All systems of divination, like music itself,work through patterns.
  • #265,139
  • Nov 24, 2010 6:53am Nov 24, 2010 6:53am
1hr shows the immediate upside recovery obstacle...also there the beginning of (the wick of) the previous 4hr/daily swing lo, daily pivot and the 23.6% 6093 - current 5741 lo which is at the Monthly M2 pivot.

Outa here (again,) see you at LO tomorrow.

G/L

http://www.easy-upload.net/fichiers/...1124154712.gif
ex member
  • #265,140
  • Nov 24, 2010 6:57am Nov 24, 2010 6:57am
Quoting naboo
Checking out the trade relations on the 4 majors, it would seem they are all playing the 15m chart as the relevant.

@ magix...
how do you suss which TF is a priority (for institution/bigger fish i assume)? i also assume this alternates periodically?


cheers

bears ahead on points
I toggle the time frames to see which is most relevant. If we hold support on 1m, we move on to 5m resistance, if we clear 5m resistance, it now becomes support and we move onto 15m resistance.

One step at a time. The 1m to 5m has played out. 5m 200 has been captured. If we hold support which I see as the cradle line on the M15, a trigger above the short term hulls will send us into another attempt at closing the M15 resistance.

I used to get caught in the who is doing what, all that lead me to was assuming tops and bottoms and trying to figure out where the turns will be instead of playing the trends...That my friend, I will tell you is a very expensive game and makes for some pretty tuff lessons.

I am holding shorts on cable from where I saw the break and loss of immediate support...we currently have interm support and a slight bullish tendency as we are still above daily roll price. That price will most likely be defended pretty strong, and happens to be at the 15m cradle. I am not going to assume and throw an order down, but will caution others that as long as daily roll holds, we are still positive on the day, and have provided what I consider a fair value for immediate top side resistance.

Long story short...

Best educated guess...

Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
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