Cable Update (GBPUSD)

i'm trying to think like you! Thanks.

G/M,

Cable remains above Daily. Weekly and Monthly pivots, correct at time of writing ...yesterday's Lo being a test of the ascending 4hr trend line/channel bottom and this morning's current hi being a test of the 4hr/daily descending trend line...no 4hr + candle close below/above those trend lines yet although recovery off yesterday's lo was strong....4hr remains in an opa uptrend.

U.s data later.

Current near-term 4hr screenshot below. Full line fibs of the downmoves are plotted from 6297, 6183, 6093 and 6083 with dotted line of the upmoves from 5483 and 5510 to current 5841 upmove hi ,on this t/f

G/L

http://www.easy-upload.net/fichiers/...1210104849.gif

I'm currently long, looking to see if price can break 1.5840. I have a target of around 1.5870

Looks like the bulls are getting ready to mount an attack on the WALL at 1.5830. I'm going to





for now!

we may push higher to 1.59... just maybe.

Price breaks above 1hr/4hr swing hi zone just now and the 50% 6183-5483 again (no 4hr candle close above this fib from a 4hr swing) and above the descending 4hr/daily trend line again. Above here the 4hr/daily swing lo zone (previous support,) shown on 4hr screenshot above with 61.8%'s of the 6093 and 6083 swings to 5483 in there.

G/L

Well that makes 2 of us

Hoping for the parabolic sar to continue up and then end the long and go short when it breaks through (On the 1H). God now's how high it will go but will wait.

Although the stochastics and the RSI are turning down so a little confused as usual lol.

....some supply being encountered at top of the previous 4hr swing hi zone at the 61.8% 6093-5483...

How strong are the bulls now ?

G/L

14.6 fib ext there in the mix

The 61.8% 6093-5483 and top of that previous 4hr swing lo zone is here...the daily swing lo zone co-existing with this likely extends up to the weekly R1 pivot @ 5871 area. Decisive breech of the 4hr/daily descending trend line ...will a candle close above it on those t/f's ?

Anyone gonna buy the pullback if/when it lands? Price @ 77% of 20 day ADR so far today, 64% of same weekly ADR so far this week.

G/L

http://www.easy-upload.net/fichiers/...1210112518.gif

terribly tempting....

gonna sit on my hands for a bit...
and record what happens

... if in doubt? sit it out

1min hidden divergence play at the 38.2% of the last 1hr swing up (5746-5861] following the pullback from current daily hi...current near-term 1hr screesnhot below.

The buy the pullback participants are at least trying Lol ! I wonder how strong this upside barrier of the previous 4hr/daily swing lo zone (previous support = potential resistance) is ?


G/L

H1 - Rejection or shake-out ?

2 heads r better than one ..but yours contributes 99% more than mine.
Was that H1 candle close a neutral spinning top.? are we in for something fakey?

in my opinion after MACD lines will cross you can go short, MACD still divergent and the higher is goes the better.

Finishing here for day/week with a final look at current near-term daily screenshot...above current daily hi and that previous daily swing lo extending up to weekly R1 5871 area are the unbreeched fibs of the swings down to 5483 from 6297, 6183, 6093 and 6083.

G/L

http://www.easy-upload.net/fichiers/z.2010121012026.jpg

could well be (fake) ... I'm short under yesterday high right now with tight stop and looking to let winners run ...

as always bbmac your posts are top shelf... have a good weekend...

Hi Silviu .... what time frame are you refering to?
what setting are you using on the macd...