another 14.6 fib acting at a potential higher low
Cable Update (GBPUSD)
- #267,242
- Dec 23, 2010 4:58am Dec 23, 2010 4:58am
- Joined Apr 2010 | Status: Today is my first trading day! | 9,452 Posts
So thats the Daily bouncing off the neckline - I might take a short here with stop set above
i see a daily reason to wait 5540 near for shorts
another reason in 5660 near
there is a possible weekly H e S if will go in 5840
im talking about med/long term views.
anyway.... 1.49 n 1.47 area seems very near
90% of traders use TA, indicators and prediction
- #267,243
- Dec 23, 2010 5:14am Dec 23, 2010 5:14am
- | Commercial User | Joined Mar 2007 | 2,287 Posts
Brain Brushing Keenly needed
- #267,244
- Edited 5:39am Dec 23, 2010 5:26am | Edited 5:39am
- Joined Nov 2009 | Status: voodoo boodoo hit man | 17,076 Posts
- #267,250
- Dec 23, 2010 7:49am Dec 23, 2010 7:49am
- | Commercial User | Joined Feb 2010 | 2,739 Posts
wtf is happening
I guess it will test again the 1.59 now and later 1.6298
- #267,252
- Dec 23, 2010 8:01am Dec 23, 2010 8:01am
- | Joined May 2009 | Status: Trader | 1,124 Posts
The overall weekly/monthly trend is DOWN. However, wanted to point something out.
When the stochastics went into the oversold area, the daily retraced approx 630 pips & then 420 pips. It's entered the oversold area again. Will it retrace here again?
I was hoping for the drop to 1.5260 area which is the 50% fib from 1.42** to 1.63** but the 200 day moving average (red line) + stochastics could move it up from here
back up to the black UTL.
When the stochastics went into the oversold area, the daily retraced approx 630 pips & then 420 pips. It's entered the oversold area again. Will it retrace here again?
I was hoping for the drop to 1.5260 area which is the 50% fib from 1.42** to 1.63** but the 200 day moving average (red line) + stochastics could move it up from here
back up to the black UTL. You've got to be IN IT to WIN IT!
- #267,254
- Dec 23, 2010 8:17am Dec 23, 2010 8:17am
- | Commercial User | Joined Feb 2010 | 2,739 Posts
The overall weekly/monthly trend is DOWN. However, wanted to point something out.
When the stochastics went into the oversold area, the daily retraced approx 630 pips & then 420 pips. It's entered the oversold area again. Will it retrace here again?
I was hoping for the drop to 1.5260 area which is the 50% fib from 1.42** to 1.63** but the 200 day moving average (red line) + stochastics could move it up from here
Attachment
I say like this
if it comes down below the 1.5385 it will go down to 1.5348 as a max
on the up one...I guess we'll know by tmr if it brakes the trendline on the 4h chart.then follows a pull back to the same trend line and then up up and atom ant
...if we have enough volume to do it
daily stochs are on the minimum,will form a double bottom on MACD soon,momentum at minimum,RSI close to 30 line and on the weekely one stochs are on minimum,RSI never reached the 70 line since the may low and the MACD is so close to the 0 line and if it doesn't cross it and bounces back....well it will just go and go
- #267,255
- Dec 23, 2010 8:34am Dec 23, 2010 8:34am
- | Commercial User | Joined Feb 2010 | 2,739 Posts
1.63? How soon?
if I am right it will go to 1.5436-40 line,test it,brake it maybe and then next stop 1.55 more or less.
later it has to come down for a pull back to the 1.54 line and if it holds there then the trend brake is confirmed.
otherwhise we might have a fake trend brake and the downtrend can resume.
But if it holds on the pull back then the uptrend is on and it goes to 1.5570 next level to brake 1.5641,1.5690,1.5720..1.5850 and so on to 1.5909
then if it brakes it it goes to 1.60 the psihological level and so on....depending on the chart you look these values might variate a bit
so...maybe 3 months as this month and half jan is dead....more or less.
depends a lot on the news and on the big sharks it's not just up to some charts and some small pockets like us
p.s.are you on a long one ?
- #267,256
- Dec 23, 2010 8:53am Dec 23, 2010 8:53am
The overall weekly/monthly trend is DOWN. However, wanted to point something out.
When the stochastics went into the oversold area, the daily retraced approx 630 pips & then 420 pips. It's entered the oversold area again. Will it retrace here again?
I was hoping for the drop to 1.5260 area which is the 50% fib from 1.42** to 1.63** but the 200 day moving average (red line) + stochastics could move it up from here
Attachment
And How about Christmas ? Any thought for that ? I wish you and all on FF,
MERRY CHRISTMAS AND HAPPY NEW YEAR MADE HAPPIER BY PROFITS !
- #267,257
- Dec 23, 2010 9:05am Dec 23, 2010 9:05am
- | Joined May 2009 | Status: Trader | 1,124 Posts
You've got to be IN IT to WIN IT!
- #267,259
- Dec 23, 2010 9:52am Dec 23, 2010 9:52am
- Joined Feb 2009 | Status: Half in the Bag | 17,827 Posts
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
- #267,260
- Dec 23, 2010 10:13am Dec 23, 2010 10:13am
- | Joined May 2009 | Status: Trader | 1,124 Posts
You've got to be IN IT to WIN IT!