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Cable Update (GBPUSD)

  • #268,861
  • Jan 17, 2011 8:45am Jan 17, 2011 8:45am
Quoting PoundTrader
lets see if this uptrend holds, been holding long since 1.5446
so far so good
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  • #268,862
  • Jan 17, 2011 8:47am Jan 17, 2011 8:47am
Testing 1.6000 makes perfect sense and completing a
sHs pattern while maintaining a tightening compression
pattern on the daily could signal a big move to the south.

Dr. D.

note: EMA's excluding the 6ema are clustered within 50 pips
similar to Jan 2010 and we know what happened after that.
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  • #268,863
  • Jan 17, 2011 8:57am Jan 17, 2011 8:57am
Quoting TauTrader
Good day to you,

Your levels look great. I have TP currently @ 1.5649, but this will change every 4hrs. So the final safe TP level will depend on timing ( how long price will take to start coming down)

It looks like the bull trap is now nearing completion.Just opinion..

I have a feeling they will meet @ 1.5700 area... but this to be calculated later.

All the best to you.
Thanx Tau, hope we're not being trapped!! - anyway happy with my entry so what will be will be!
May the forex be with you |
  • #268,864
  • Jan 17, 2011 9:16am Jan 17, 2011 9:16am
Bullish hidden divergence on M15.

Continuation ? Oh well..
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  • #268,865
  • Jan 17, 2011 9:22am Jan 17, 2011 9:22am
Quoting primzvicious
ill get in again in this pull back if any
orait........

p/s: H4
  • #268,866
  • Jan 17, 2011 9:47am Jan 17, 2011 9:47am
Well, although the pattern looks ok for shorts, it doesn't look like bulls are very worried eg bears are very aggressive. I don't know, having some shorts from 1.5933 fully secured by SL imo it would be very sneaky if this would develop as a major turn to the south but you never know.......

M15:
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Don't be a hero. Don't have an ego. Always question yourself
  • #268,867
  • Jan 17, 2011 9:48am Jan 17, 2011 9:48am
Quoting Ma Baker
It might test lower level b4 upward...



... 2b Continued...
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Put your hands in the air , Give me all your money ! !
  • #268,868
  • Jan 17, 2011 10:25am Jan 17, 2011 10:25am
Well, it almost midnight here and I'm done for the day.

See you all tomorrow and good luck

Regards
GS
  • #268,869
  • Jan 17, 2011 11:16am Jan 17, 2011 11:16am
It's hard to form a bubble on a trend having a gradual slope as seen
here in the 1hr chart. [greater (>) than 45 degrees with the vertical].
The energy release is strong due to the higher tf compression pattern
and is dissipated gradually. Compare that with a 5m chart within this
trend showing a sharper slope [less (<) than 45 degrees with the vertical].

A breakout from a compression pattern off of a higher tf having a
gradual slope will be often be stronger and more sustained and harder
to slow down as it will lack the bubble formation and retain it's energy
and momentum. Within that larger tf will be smaller moves as seen
with the 5m chart having sharper slopes and repeating compression -
release patterns and expected bubble formations which naturally will
collapse with pauses and pull backs and possible reformations in c-patterns.

Picking your trade within a particular tf and observing the EMA patterns
(and slopes) in higher (or lower) tfs will help in determining targets and
exits and how sustained the trends may be. Watching and expecting
bubble formations presenting on sharp, near vertical breakouts signal
the end of the immediate moves (relative to that tf).

Dr. D.
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  • #268,870
  • Jan 17, 2011 11:52am Jan 17, 2011 11:52am
Happy enough to call it a day at 20 pips (kind of) still looking to sell rallies in Asia - if I'm still awake
  • #268,871
  • Jan 17, 2011 12:00pm Jan 17, 2011 12:00pm
Short 15880. Tp 1st @15850 . candle closed below 20 ema on m15. below 200 on M5 ...needs to break daily rollover ...i have at 15869. sl 15900..i've no confidence that this will work but my fingers got itchy cos have not been able to trade all day.
All systems of divination, like music itself,work through patterns.
  • #268,872
  • Jan 17, 2011 12:06pm Jan 17, 2011 12:06pm
Quoting TauTrader
Good day to you,

Your levels look great. I have TP currently @ 1.5649, but this will change every 4hrs. So the final safe TP level will depend on timing ( how long price will take to start coming down)

It looks like the bull trap is now nearing completion.Just opinion..

I have a feeling they will meet @ 1.5700 area... but this to be calculated later.

All the best to you.
Good day to you,

TP now adjusted from 1.5649 to 1.5657. Will update again in the morning.

regards
  • #268,873
  • Jan 17, 2011 12:12pm Jan 17, 2011 12:12pm
Ma baker i m stuck in buying position in gbpusd, whats ur view that it will come up or not?
  • #268,874
  • Jan 17, 2011 12:30pm Jan 17, 2011 12:30pm
Engulfing candle on M5..8 candles down to DR ( Magix's True Daily Open)..lets see.
All systems of divination, like music itself,work through patterns.
  • #268,875
  • Jan 17, 2011 12:41pm Jan 17, 2011 12:41pm
Quoting kaspopsicle
Engulfing candle on M5..8 candles down to DR ( Magix's True Daily Open)..lets see.
Good day,

One more pullback to 1.5892/1.5895 to be expected. Do not let is stress you out.

Regards
  • #268,876
  • Jan 17, 2011 12:46pm Jan 17, 2011 12:46pm
Quoting TauTrader
Good day,

One more pullback to 1.5892/1.5895 to be expected. Do not let is stress you out.

Regards
Thank you Mr. T.T.Tell me sometime how you see that please...think i've answered my own question ..little swing low @ ' 15.30 gmt. and 11.40 and support becoming resistace... ?
All systems of divination, like music itself,work through patterns.
  • #268,877
  • Jan 17, 2011 12:55pm Jan 17, 2011 12:55pm
Why should we think this little pullback is a needed
reversal and not a correction in the upward trend?

Dr. D.
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  • #268,878
  • Jan 17, 2011 1:02pm Jan 17, 2011 1:02pm
Hi,
Does anyone agree cable may go up to 1.5920 area? or will continue bearish? plz help
  • #268,879
  • Jan 17, 2011 1:05pm Jan 17, 2011 1:05pm
Quoting kaspopsicle
Thank you Mr. T.T.Tell me sometime how you see that please...think i've answered my own question ..little swing low @ ' 15.30 gmt. and 11.40 and support becoming resistace... ?
Good day,

Yip - if you so will. We have just broken back through Friday high @ 1.58868 as well as Thursday high @ 1.58816. Now resistance. There is a probability that these will be retested to lure in longs or stop out trailing stops behind key levels. That is my take.

Regards
  • #268,880
  • Jan 17, 2011 1:05pm Jan 17, 2011 1:05pm
I could see these EMAs collapse and condense into another
compression cycle on the 5m / 15m to build the energy ahead
of tomorrow's LDN and NY news for another go at the 1.6000.

Dr. D. (the illusionist)
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