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Cable Update (GBPUSD)

  • #265,441
  • Nov 28, 2010 4:27pm Nov 28, 2010 4:27pm
Gu is in obvious downtrend. There is no candle that signals reverse or retrenchment yet. So shorts still in play.
  • #265,442
  • Nov 28, 2010 4:29pm Nov 28, 2010 4:29pm
Is it me being dumb or have you got your S/R terminology mixed up?


Quoting kaspopsicle
As the markets open i will be trading only what i see in as real time as my charts allow. I have no bias. I will therefore be working from 15/5/1min tf .
On attached chart:
4 hr; previous resistance @15475-15548 could become support/supply zone.Trend line from 9 nov has been breached (as we've all seen lol)also previous support @ 16642. Last week printed some serious moves south. I cannot assume anything ever but at times like these i am very cautious.
  • #265,443
  • Nov 28, 2010 4:39pm Nov 28, 2010 4:39pm
Quoting bimmerbob
Is it me being dumb or have you got your S/R terminology mixed up?
Quite possibly, could you expand ? Although i doubt you'll get any more sense out of me tonight. Goodnight and trade well, see you @LO.
All systems of divination, like music itself,work through patterns.
  • #265,444
  • Nov 28, 2010 5:13pm Nov 28, 2010 5:13pm
I'm going for it, short 1.5600 target 1.5300 stop 1.5675
1.5645 - 1.5650 will be difficult to get through I think.

Shamu
New voice message: Why are you calling me? If I need you, I'll call you!
  • #265,445
  • Nov 28, 2010 7:40pm Nov 28, 2010 7:40pm
long @ 1.55703
  • #265,446
  • Nov 28, 2010 7:42pm Nov 28, 2010 7:42pm
bought a bunch starting from 1.5600 down.
  • #265,447
  • Nov 28, 2010 7:54pm Nov 28, 2010 7:54pm
started out the month thinking how high is this thing gonna go?

and here we are near the end thinking how low's it gonna go?

  • #265,448
  • Nov 28, 2010 9:49pm Nov 28, 2010 9:49pm
DAILY CHART
Attached Image (click to enlarge)
Click to Enlarge Name: 15 daily nov 29.gif Size: 15 KB
The finest tool in the world still needs a MAN who KNOWS how to use it.
  • #265,449
  • Edited 10:37pm Nov 28, 2010 10:13pm | Edited 10:37pm
HI GUYS
do you think the trend in the 4h chart will go back to the original canal (VIOLET ) or it stays in the yellow one?
***sorry i dont know how to upload a pic***
Attached Image (click to enlarge)
Click to Enlarge Name: gu.gif Size: 12 KB
  • #265,450
  • Nov 28, 2010 10:14pm Nov 28, 2010 10:14pm
I THINK I KNOW NOW
  • #265,451
  • Edited Nov 29, 2010 1:07am Nov 28, 2010 10:18pm | Edited Nov 29, 2010 1:07am
can anyone confirm please.. i just started learning Elliot Waves. and i found this for the 4 hr chart.
Attached Image (click to enlarge)
Click to Enlarge Name: possible elliot.jpg Size: 69 KB
  • #265,452
  • Nov 29, 2010 12:44am Nov 29, 2010 12:44am
Quoting samdani786
DAILY CHART
Morning bro
I like ur work
Have conflict signal on daily for g/u So b Carefull
  • #265,453
  • Nov 29, 2010 1:03am Nov 29, 2010 1:03am
Hi the key resistance levels I see today are 1.5649, 1.5730 and 1.5840.

I will be looking to short at these levels based upon confirmation of a reversal.

See attached daily chart
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd-daily.gif Size: 13 KB
  • #265,454
  • Nov 29, 2010 2:01am Nov 29, 2010 2:01am
Hi fuse, what will you be looking at to confirm the reversal, especially at the first resistance pivot you mentioned?
  • #265,455
  • Nov 29, 2010 2:27am Nov 29, 2010 2:27am
5557 the overnight/asian Lo below Friday's Lo...bullish divergence plays there from 1min - 1hr (30min pic below as eg.) Pullback recovery so far hampered by fresh supply at the base of the previous 4hr/daily swing lo zone (prev support) Daily Pivot and 3 x fibs. of 1hr swings down to that 5557 Lo.

Similar such recovery attempt in €. Uk data at 0930am London time.

Near-term 1hr screenshot is below.

G/L

http://www.easy-upload.net/fichiers/z.2010112992646.gif

http://www.easy-upload.net/fichiers/...0112992515.gif
ex member
  • #265,456
  • Nov 29, 2010 2:30am Nov 29, 2010 2:30am
Quoting teknomage
Hi fuse, what will you be looking at to confirm the reversal, especially at the first resistance pivot you mentioned?
On lower time frames such as 5m or 15m charts I watch the price action when it gets close to the level I'm interested in. Then I'm looking for pin bars. Price making a higher high then quickly reversing leaving a long wick at the top. I still don't enter the trade on the close of the candle I usually wait a bit until I can gauge what the market is going to do next and then I look to enter the trade half way up the wick of the previous pin bar. I then place my stop somewhere above the pin bar.
  • #265,457
  • Nov 29, 2010 2:44am Nov 29, 2010 2:44am
Will the 1hr hidden divergence at the current daily/pullback Hi described above result in a with trend follow thru to a new Lo ?

Time will tell.

G/L

http://www.easy-upload.net/fichiers/z.201011299446.gif
ex member
  • #265,458
  • Nov 29, 2010 2:53am Nov 29, 2010 2:53am
rejected heavily at previous supp/res level @5645, which coincidentally was 2 pips off today's dp. Atm, price still look set to test 5472.

Good luck.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gu.gif Size: 19 KB
Click to Enlarge Name: gua.gif Size: 185 KB
Thank You
  • #265,459
  • Nov 29, 2010 3:03am Nov 29, 2010 3:03am
Quoting wormboy
rejected heavily at previous supp/res level @5645, which coincidentally was 2 pips off today's dp. Atm, price still look set to test 5472.

Good luck.

Hi WM, saw that.... you can see it on the daily pic below...Current daily lo was at that 38.2% of the 4342-6297 daily swing.

G/L
Attached Image
ex member
  • #265,460
  • Nov 29, 2010 3:07am Nov 29, 2010 3:07am
Are we assuming 1.556 is the bottom for this week?
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