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Cable Update (GBPUSD)

  • #266,021
  • Dec 8, 2010 6:15am Dec 8, 2010 6:15am
here comes the pain
Thank You
  • #266,022
  • Dec 8, 2010 6:23am Dec 8, 2010 6:23am
can someone with more experience run me through the possibilities of supply and demand available on the charts at the mo please..

i was going to post way back that i thought that the 15688 area looked a strong demand area (30 min)..but didnt't as am still a complete novice in this arena
  • #266,023
  • Dec 8, 2010 6:29am Dec 8, 2010 6:29am
hi
Attached Image (click to enlarge)
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  • #266,024
  • Dec 8, 2010 6:39am Dec 8, 2010 6:39am
Quoting wormboy
here comes the pain
hello bro how are you not posting in your thread.?i was also away took long scalp but now again in shorting but its looking confuse...but my chart is telling until we are holding 5780 and 5820 max chances to revisit 56xx or 5550 region what are your views?

Ub
  • #266,025
  • Dec 8, 2010 6:59am Dec 8, 2010 6:59am
Quoting ubaidahsan
hello bro how are you not posting in your thread.?i was also away took long scalp but now again in shorting but its looking confuse...but my chart is telling until we are holding 5780 and 5820 max chances to revisit 56xx or 5550 region what are your views?

Ub
hey ub

doing good brother how are you?
atm you'd want that bearish hourly close to confirm selling or close above the monthly pvp to buy, which won't be provided at this hourly close. Think we'll have to wait a bit longer for confirmation. Unless you're scalping, don't pick the direction without any confirmation on at least the hourly imo, I mentioned that we're likely get to see some big whipsaws, I still think we'll see one judging by the current pa.
If for example the monthly pvp holds, I'll be looking for a retest of the weekly pvp @5684, which we had earlier. However If cable close above the monthly pvp, I'll look to buy & set tp @5926. But, as long as price stays below monthly pvp, the bias stays bearish.
Thank You
  • #266,026
  • Dec 8, 2010 7:03am Dec 8, 2010 7:03am
Quoting wormboy
hey ub

doing good brother how are you?
atm you'd want that bearish hourly close to confirm selling or close above the monthly pvp to buy, which won't be provided at this hourly close. Think we'll have to wait a bit longer for confirmation. Unless you're scalping, don't pick the direction without any confirmation on at least the hourly imo, I mentioned that we're likely get to see some big whipsaws, I still think we'll see one judging by the current pa.
If for example the monthly pvp holds, I'll be looking for a retest of the weekly pvp @5684,...
you are right bro i closed my short because according to H4 we can see more upside move after 1 hour H4 closing will confirm but as it is holding that level 2 candles closed above 5780 is confusing.so better to stay away and watch PA thanks for your post...

Ub
  • #266,027
  • Dec 8, 2010 7:04am Dec 8, 2010 7:04am
Hourly closed a spinning top dead on the monthly. Looks top heavy, small short (half lot) in with stop placed @5850, will bet bigger once we close bearish.

Let's see how this goes.
Attached Image (click to enlarge)
Click to Enlarge Name: gu1d.gif Size: 28 KB
Thank You
  • #266,028
  • Dec 8, 2010 7:05am Dec 8, 2010 7:05am
Quoting ubaidahsan
you are right bro i closed my short because according to H4 we can see more upside move after 1 hour H4 closing will confirm but as it is holding that level 2 candles closed above 5780 is confusing.so better to stay away and watch PA thanks for your post...

Ub
lol you closed, I open
no harm staying flat tho
Thank You
  • #266,029
  • Dec 8, 2010 7:11am Dec 8, 2010 7:11am
Tweezer tops on 1 hour - time to short the right shoulder!
May the forex be with you |
  • #266,030
  • Dec 8, 2010 7:14am Dec 8, 2010 7:14am
Quoting wormboy
lol you closed, I open
no harm staying flat tho
lol i made mistake lol again in anyways one thing which is making me more confident about selling is that in past 10 years in December GU was bearish..

Ub
  • #266,031
  • Dec 8, 2010 7:19am Dec 8, 2010 7:19am
H4 ... short from 15780 looking for 15720-30 app. 61.8% retrace of todays move
Attached Image (click to enlarge)
Click to Enlarge Name: h4s.PNG Size: 31 KB
  • #266,032
  • Dec 8, 2010 7:22am Dec 8, 2010 7:22am
Quoting ubaidahsan
lol i made mistake lol again in anyways one thing which is making me more confident about selling is that in past 10 years in December GU was bearish..

Ub
that's good info thanks, I haven't been trading that long to know nor have I look back at December's pa exceeding 3 years lol
Thank You
  • #266,033
  • Dec 8, 2010 7:26am Dec 8, 2010 7:26am
Quoting FXFundi
Tweezer tops on 1 hour - time to short the right shoulder!
Isn't that a tweezer top and a doji and a dp right underneath?
Attached Image (click to enlarge)
Click to Enlarge Name: Spot FX GBP_USD (08-DEC-10).png Size: 10 KB
All systems of divination, like music itself,work through patterns.
  • #266,034
  • Dec 8, 2010 7:29am Dec 8, 2010 7:29am
Quoting wormboy
aye my kung fu is strong ... but I think my opponent today is stronger.
So, I'm gonna pass
Turn off your mind relax float downstream you can hear from within/Your ladyboss/
  • #266,035
  • Dec 8, 2010 7:29am Dec 8, 2010 7:29am
Quoting kaspopsicle
Isn't that a tweezer top and a doji and a dp right underneath?
hi kas, plot a horizontal line across 5781, that's the monthly pvp.

p/s : there's no doji
Thank You
  • #266,036
  • Dec 8, 2010 7:30am Dec 8, 2010 7:30am
Quoting meromar
Turn off your mind relax float downstream you can hear from within/Your ladyboss/
mate I'm not really good with cryptic messages
Thank You
  • #266,037
  • Dec 8, 2010 7:31am Dec 8, 2010 7:31am
wormy so u r waiting daily candle to close under monthly pvp?
  • #266,038
  • Dec 8, 2010 7:32am Dec 8, 2010 7:32am
Quoting wormboy
mate I'm not really good with cryptic messages
When I tell myself no trade I stick to it
  • #266,039
  • Dec 8, 2010 7:34am Dec 8, 2010 7:34am
Quoting bonus76
wormy so u r waiting daily candle to close under monthly pvp?
nah mate, just the hourly will do for me to add further, but just another half lot nothing big. Nothing big until the H4 closes below cleanly.
Vice versa, if say price close above the monthly on the hourly without stopping me out, I will kill the trade
Thank You
  • #266,040
  • Dec 8, 2010 7:35am Dec 8, 2010 7:35am
Quoting meromar
When I tell myself no trade I stick to it
guilty.
Thank You
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