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Cable Update (GBPUSD)

  • #266,441
  • Dec 14, 2010 3:36am Dec 14, 2010 3:36am
Good news in UK = buy buy buy
If slaughterhouses had glass walls, everyone would be a vegetarian!
  • #266,442
  • Dec 14, 2010 3:52am Dec 14, 2010 3:52am
Very silent in here. Any fresh thought guys?
You've got to be IN IT to WIN IT!
  • #266,443
  • Dec 14, 2010 3:58am Dec 14, 2010 3:58am
Quoting Ifty
Very silent in here. Any fresh thought guys?
lol, just processing other than the fact the news was more than likely priced in just waiting for something to happen
  • #266,444
  • Dec 14, 2010 3:58am Dec 14, 2010 3:58am
The bias is up but will wait for a clean break of 1.5900 before pulling the triger
With patience and discipline,you move beyond the sky
  • #266,445
  • Dec 14, 2010 4:01am Dec 14, 2010 4:01am
Quoting Ifty
Very silent in here. Any fresh thought guys?
I'm not going to read back to see if this is fresh, but I will be long above 1.59. Why? Because the last three hours have been probing it. If it breaks with a strong hourly bar it may go to 1.6 because of the inflation news. We may have to wait for New york (retail sales news)...
Gone to a better place
  • #266,446
  • Dec 14, 2010 4:07am Dec 14, 2010 4:07am
I beg to differ, they both are weak! Cable is in a weak uptrend to resistance and GBP/whatever that chart is in a weak downtrend to support! :nerd:

I wasn't talking about long term in that post though, I was just talking about the stalling and 2-4 hour mini dojis right after a straight shot up. Usually there is a significant retrace (38.2 or 50%) after a move like that. I imagine we will see that before much more upside. Or maybe cable will confound everybody and head back down to 5500 and keep on truckin! Or not!



Quoting digger1
lol, tht is cable only upside down , thts why I was asking you the definition of weakness , they both cant be weak , least you are seeing things the same way wether upside down or right side up .
  • #266,447
  • Dec 14, 2010 4:11am Dec 14, 2010 4:11am
Quoting RealPips
I beg to differ, they both are weak! Cable is in a weak uptrend to resistance and GBP/whatever that chart is in a weak downtrend to support! :nerd:

I wasn't talking about long term in that post though, I was just talking about the stalling and 2-4 hour mini dojis right after a straight shot up. Usually there is a significant retrace (38.2 or 50%) after a move like that. I imagine we will see that before much more upside. Or maybe cable will confound everybody and head back down to 5500 and keep on truckin! Or not!
one is the usdgbp , same pair just upside down its just reversed
  • #266,448
  • Dec 14, 2010 4:13am Dec 14, 2010 4:13am
Here's a chart. We can see 1.59 is important. Inflation news, uptrend and weak USD give me a bullish bias.

Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd101214.gif Size: 28 KB
Gone to a better place
  • #266,449
  • Dec 14, 2010 4:19am Dec 14, 2010 4:19am
Quoting RealPips
I beg to differ, they both are weak! Cable is in a weak uptrend to resistance and GBP/whatever that chart is in a weak downtrend to support! :nerd:

I wasn't talking about long term in that post though, I was just talking about the stalling and 2-4 hour mini dojis right after a straight shot up. Usually there is a significant retrace (38.2 or 50%) after a move like that. I imagine we will see that before much more upside. Or maybe cable will confound everybody and head back down to 5500 and keep on truckin! Or not!
here you go , just a 180 degree view lol.
Attached Image (click to enlarge)
Click to Enlarge Name: 2 hour view.jpg Size: 155 KB


Attached Image (click to enlarge)
Click to Enlarge Name: 2 hour upside down view.jpg Size: 166 KB
  • #266,450
  • Dec 14, 2010 4:21am Dec 14, 2010 4:21am
Realpips, it sure dont seem too interested in going up or down , just wants to confuse everybody as you said lol
  • #266,451
  • Dec 14, 2010 4:25am Dec 14, 2010 4:25am
Quoting Ifty
Very silent in here. Any fresh thought guys?
Hi Ifty - nowt fresh really , just waiting for a nice break below my average short price of 15875 and H&S to emerge on Daily with 500 pips of downside by this time next month muahahahahahaha...........
Attached Image (click to enlarge)
Click to Enlarge Name: 500.PNG Size: 50 KB
  • #266,452
  • Dec 14, 2010 4:28am Dec 14, 2010 4:28am
If we see an H4 rejection bar or daily rejection bar of 1.59, then we are going down big style...

I know this is of no use to instant millionaire wannabees because it's a monthly chart but it speaks volumes:

Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd101214m1.gif Size: 24 KB
Gone to a better place
  • #266,453
  • Dec 14, 2010 4:34am Dec 14, 2010 4:34am
With the weekly chart showing the 50 fib tested...
the longer term partcipants could be in decision making mode???

go long, go short, close long, close short or waiting for the new year... who knows?

Attached Image
  • #266,454
  • Dec 14, 2010 4:39am Dec 14, 2010 4:39am
Quoting Cobby
With the weekly chart showing the 50 fib tested...
the longer term partcipants could be in decision making mode???

go long, go short, close long, close short or waiting for the new year... who knows?

Attachment
Spot on. Look at the way the Swissy and the Aussie are showing the way today but why is GBP not following?
Gone to a better place
  • #266,455
  • Dec 14, 2010 4:44am Dec 14, 2010 4:44am
Quoting chazzle
Hi Ifty - nowt fresh really , just waiting for a nice break below my average short price of 15875 and H&S to emerge on Daily with 500 pips of downside by this time next month muahahahahahaha...........
Very reluctant not to go down atm and the stochastics are reaching the oversold area (1H) as well so i feel it will go to the round 1.60 number before any drop (if any). This is where our patience comes in. I'm staying flat for the moment. GL.
You've got to be IN IT to WIN IT!
  • #266,456
  • Dec 14, 2010 4:47am Dec 14, 2010 4:47am
Quoting chazzle
Daily - Possible sloping head and shoulders - I'm going short with a stop just above this red DTL which touches the tips of both shoulders
cut the first entry at -4 pips ... have 3 others still open average price now 15884 and probably set SL at BE now ...
  • #266,457
  • Dec 14, 2010 4:48am Dec 14, 2010 4:48am
Draw fibo from high of nov to low of nov .... there's where we are stucked. where is 50 fibo ?
Make it simple

Hope this will help....

rgds,iqyu
not euphoria follower
  • #266,458
  • Dec 14, 2010 4:50am Dec 14, 2010 4:50am
Quoting iqyu5an
Draw fibo from high of nov to low of nov .... there's where we are stucked. where is 50 fibo ?

hope this will help....

rgds,iqyu
its on my chart I posted before iqy
  • #266,459
  • Dec 14, 2010 4:52am Dec 14, 2010 4:52am
Quoting chazzle
its on my chart I posted before iqy
not euphoria follower
  • #266,460
  • Dec 14, 2010 4:54am Dec 14, 2010 4:54am
PSAR has broken to the downside (1H) but I will not take this trade. If it goes down then i don't expect more than 1.5813 (50% fib from yesterdays low to todays high) & 55 day MA. Who know's where it's going.

Gonna watch Amir Khan vs Marcos Maidana again for the 5th time lol. Will check again after the 12th round.
You've got to be IN IT to WIN IT!
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