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Cable Update (GBPUSD)

  • #267,921
  • Jan 5, 2011 2:22am Jan 5, 2011 2:22am
Was entered @1.5550 which also 50 fib of yesterday LH.
0.6 vol has taken out for 63 pips, SL locked @ BE +20.
Targeting 5674 as R1 also FE 61.8. Let's see.
Attached Image (click to enlarge)
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  • #267,922
  • Jan 5, 2011 2:23am Jan 5, 2011 2:23am
This is a 4hr chart then a 1hr chart.
Cable likes to setup a 100 pip move everyday at London open. Well we had the setup at 15543. The chart on the right shows with blue, the 100 pip block, right up to 5643.
Now at the bottom of the chart is my anticipation of what MACD will do. If MACD shows weakness at that level then I will sit up and pay attention. Just because it shows a lower MACD at 12pm does not mean weakness, it could just be pausing to let 1pm break 5634 upwards.
The best scenario is for the 11am MACD to show a pause lower then 10am MACD, so that 12pm can break 5634 upwards.
Either way, 5643 is the level to watch
Attached Image (click to enlarge)
Click to Enlarge Name: ScreenHunter_01 Jan. 05 10.19.jpg Size: 101 KB
  • #267,923
  • Jan 5, 2011 2:23am Jan 5, 2011 2:23am
well wish me luck too,, I wanto to be millioner too and am hre sence 2004

Quoting Abu-Rami
Happy New Year for you all...
  • #267,924
  • Jan 5, 2011 2:40am Jan 5, 2011 2:40am
Quoting gsantri
Was entered @1.5550 which also 50 fib of yesterday LH.
0.6 vol has taken out for 63 pips, SL locked @ BE +20.
Targeting 5674 as R1 also FE 61.8. Let's see.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #267,925
  • Jan 5, 2011 2:53am Jan 5, 2011 2:53am
Quoting Magix
Thanks

SL lowered to BE+10 give her more room
  • #267,926
  • Jan 5, 2011 3:02am Jan 5, 2011 3:02am
For those not in a long trade yet.
I will be adding to my long and buying at 4596 to 5634
Attached Image
  • #267,927
  • Jan 5, 2011 3:13am Jan 5, 2011 3:13am
Quoting spiritbreezer
For those not in a long trade yet.
I will be adding to my long and buying at 4596 to 5634
4596 ?
  • #267,928
  • Jan 5, 2011 3:23am Jan 5, 2011 3:23am
Attached Image (click to enlarge)
Click to Enlarge Name: cable.jpg Size: 64 KB



out
  • #267,929
  • Jan 5, 2011 3:33am Jan 5, 2011 3:33am
Quoting redsword11
Attachment


out
good position master,,
A good decision to come out
only an analysis, and I'm always wrong, don't follow me,
  • #267,930
  • Edited 4:56am Jan 5, 2011 3:45am | Edited 4:56am
Quoting gsantri
Was entered @1.5550 which also 50 fib of yesterday LH.
0.6 vol has taken out for 63 pips, SL locked @ BE +20.
Targeting 5674 as R1 also FE 61.8. Let's see.
Stopped out 10 pips. News came out negative.

Flat, looking for another setup.

EDIT: Off topic, big up move is coming on EU imo. Bullish Div forming there.
  • #267,931
  • Jan 5, 2011 5:19am Jan 5, 2011 5:19am
Quoting gsantri
Stopped out 10 pips. News came out negative.

Flat, looking for another setup.

EDIT: Off topic, big up move is coming on EU imo. Bullish Div forming there.
Oops.. some 'fundimental news drive it down..
No technical, my mistake
  • #267,932
  • Jan 5, 2011 6:23am Jan 5, 2011 6:23am
Quoting gsantri
Oops.. some 'fundimental news drive it down..
No technical, my mistake
Not enough volume for technical prediction IMHO... It is better to just observe until next week...
  • #267,933
  • Jan 5, 2011 6:25am Jan 5, 2011 6:25am
Quoting KwAAkS
Not enough volume for technical prediction IMHO... It is better to just observe until next week...
Exactly why I am on the sidelines. This is totally rubbish PA not worth trading except maybe 5 minute scalping.
You've got to be IN IT to WIN IT!
  • #267,934
  • Jan 5, 2011 7:20am Jan 5, 2011 7:20am
im hoping we see 1.5350 area by end of week. lets see what happens.
  • #267,935
  • Edited 8:25am Jan 5, 2011 8:23am | Edited 8:25am
Crashed through the pivots ... but possible support shown here on H1 above 15480 ... SMA200 and PA
Attached Image (click to enlarge)
Click to Enlarge Name: posss.jpg Size: 82 KB
  • #267,936
  • Jan 5, 2011 8:32am Jan 5, 2011 8:32am
i'm keeping an eye on DX breaking up through 8059. i suspect cable will drop through 15486 if Dx does.Cables' been doing almost exact correlation all day as far as i can see.
All systems of divination, like music itself,work through patterns.
  • #267,937
  • Jan 5, 2011 9:00am Jan 5, 2011 9:00am
Attached Image (click to enlarge)
Click to Enlarge Name: Spot FX GBP_USD (05-JAN-11).png Size: 10 KB
Price going into channel 15473-15495 imo. Usually wrong but time for some shut eye 4 me before next shift.
G/L
All systems of divination, like music itself,work through patterns.
  • #267,938
  • Jan 5, 2011 9:11am Jan 5, 2011 9:11am
Quoting chazzle
Crashed through the pivots ... but possible support shown here on H1 above 15480 ... SMA200 and PA
Bounce @ 15480 ... Price needs to stay above the rising trendline (15500 on the current H1 bar) next target : weekly pivot @ 15528 where it faces pretty strong resistance
Attached Image (click to enlarge)
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  • #267,939
  • Jan 5, 2011 9:55am Jan 5, 2011 9:55am
Wise man says, news rule:

Enter on the first pullback and enjoy the ride.

No rocket science.
  • #267,940
  • Jan 5, 2011 10:04am Jan 5, 2011 10:04am
Quoting kaspopsicle
i'm keeping an eye on DX breaking up through 8059. i suspect cable will drop through 15486 if Dx does.Cables' been doing almost exact correlation all day as far as i can see.
Coming along nicely Kas. I still sitting here with my OCO orders waiting to fill.
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