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Cable Update (GBPUSD)

  • #266,561
  • Dec 15, 2010 4:52am Dec 15, 2010 4:52am
slightly different approach but same thing..if someone wants me to explain what yur seeing..let meh know..

took the day of work!!
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  • #266,562
  • Dec 15, 2010 4:56am Dec 15, 2010 4:56am
if u add a fib to it..bounce/ confluence at 50%

so we have 3 thing in favour

1) 50% fibo confluence
2)monthly trend bearish candle
3) pullback scenero
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  • #266,563
  • Dec 15, 2010 5:02am Dec 15, 2010 5:02am
Quoting nAVIN2007
this is trading for u..my trade i have here is aggressive but decision is made from monthly time frame..be lucky

on the weekly chart i see this as a pullback retest scenero..(see chart)
there was a lower low swing i believe on weekly..indicating weakness..i think the pullback is the new lower high

Ditto.

No reason to close shorts just yet.

Regards
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  • #266,564
  • Dec 15, 2010 5:07am Dec 15, 2010 5:07am
bounce off L4 at the recent low
  • #266,565
  • Dec 15, 2010 5:08am Dec 15, 2010 5:08am
Yep, looking for a test of the red 38.2 FE around the 1.5578 region.
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Author of: For Pip's Sake! (Available at Amazon... :-) )
  • #266,566
  • Dec 15, 2010 5:12am Dec 15, 2010 5:12am
Quoting TauTrader
Ditto.

No reason to close shorts just yet.

Regards

nice entries..
loving yur dailly chart i agree 100%

Quoting 45Condor
Yep, looking for a test of the red 38.2 FE around the 1.5578 region.
yup..im looking for a test of monthly low and breakout to give 1.53 area
  • #266,567
  • Dec 15, 2010 5:18am Dec 15, 2010 5:18am
  •  samirb
  • | Joined Nov 2009 | Status: Investing is simple, but not easy. | 247 Posts
Quoting nAVIN2007
nice entries..
loving yur dailly chart i agree 100%

Hello bro,
how you doing..

similar view like yours... http://www.forexfactory.com/showpost...&postcount=911
Good luck

Quoting samirb
Good day everyone

Reason for closing all longs and switching to shorts

first chart 8 hours and second chart weekly

Good luck with your trades..
  • #266,568
  • Dec 15, 2010 5:20am Dec 15, 2010 5:20am
Quoting 45Condor
Yep, looking for a test of the red 38.2 FE around the 1.5578 region.
Good day,

Got a 1.5561 number as major daily support start area - so we are looking at roughly the same area, but we still have a hurdle. So will see..

Good luck!

Regards
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  • #266,569
  • Dec 15, 2010 5:28am Dec 15, 2010 5:28am
15630 might not be cracked today ... I'm looking for long scalps
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  • #266,570
  • Dec 15, 2010 5:29am Dec 15, 2010 5:29am
Quoting chazzle
15630 might not be cracked today ... I'm looking for long scalps
.
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  • #266,571
  • Dec 15, 2010 5:39am Dec 15, 2010 5:39am
Quoting TauTrader
Good day,

Got a 1.5561 number as major daily support start area - so we are looking at roughly the same area, but we still have a hurdle. So will see..

Good luck!

Regards
I am clearing here @ 1.5658 - closing all. +829 pips. This may become a choppy zone. If I am wrong, so be it.

Regards
Attached Image (click to enlarge)
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  • #266,572
  • Edited 5:47am Dec 15, 2010 5:44am | Edited 5:47am
Confluence Daily S2 (1.5634) & LTL

regards
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... feel better day by day.
  • #266,573
  • Dec 15, 2010 5:47am Dec 15, 2010 5:47am
Quoting navhin
short at 1.5705, TP 1.5665
closed my position for +40pips..
  • #266,574
  • Dec 15, 2010 5:52am Dec 15, 2010 5:52am
if on the weekly the low of the previous break..the u have a reversal on the direction of the week..the move hasnt even started yet..

im holding

Mr T..nice pippage brother!!
  • #266,575
  • Dec 15, 2010 5:56am Dec 15, 2010 5:56am
  •  samirb
  • | Joined Nov 2009 | Status: Investing is simple, but not easy. | 247 Posts
Quoting samirb
Hello bro,
how you doing..

similar view like yours... http://www.forexfactory.com/showpost...&postcount=911
Good luck

Good day everyone

Expecting one more run up to 15850 before fall..

Good luck everyone
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  • #266,576
  • Dec 15, 2010 5:59am Dec 15, 2010 5:59am
Quoting nAVIN2007
if on the weekly the low of the previous break..the u have a reversal on the direction of the week..the move hasnt even started yet..

im holding

Mr T..nice pippage brother!!
Tx Bro - may join you again later...who knows

Gotta love your conviction. Strong like an ox.

Regards
  • #266,577
  • Dec 15, 2010 6:13am Dec 15, 2010 6:13am
Good day to you,

Quick scalp long. Entered @ 1.5669 and 1.5671. SL tight @ 1.5650 - see if I can squeeze a few.

regards
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  • #266,578
  • Dec 15, 2010 6:24am Dec 15, 2010 6:24am
Rather interested in the 3-day pump on EG to the 76.4 FE, pump on EU after discussion of Spanish downgrade:

http://www.telegraph.co.uk/finance/f...downgrade.html

And other factors... shsss, it never stops, does it?
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Author of: For Pip's Sake! (Available at Amazon... :-) )
  • #266,579
  • Dec 15, 2010 6:30am Dec 15, 2010 6:30am
Agree with nAVIN2007 on this one!

Here is my outlook on GU and I am bearish. Possible H&S pattern forming on d1

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Anyway, I have stopped trading and will not open any new positions until Sunday 23rd Jan for various reasons. I still have a couple positions out there that I will manage during this period, although I closed my GBPCHF short from November for 825 pips yesterday. (Link to original post is http://www.forexfactory.com/showthre...58#post4186058)

Take a break from trading people... you deserve it and it couldn't be a better time to do so. Spend time with your loved ones over the festive period and come back recharged next year!

Wishing everyone a very merry Xmas (hic!) and a Happy New Year.
  • #266,580
  • Dec 15, 2010 6:32am Dec 15, 2010 6:32am
Quoting samirb
Good day everyone

Expecting one more run up to 15850 before fall..

Good luck everyone
interesting chart..i like it..something else to think abt..thank u
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