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Cable Update (GBPUSD)

  • #270,001
  • Jan 25, 2011 6:36pm Jan 25, 2011 6:36pm
Quoting JustThePips
Could be, although there may be some difficulty getting past the 1.5825 resistance area.
Thanks bro, the only resistance area that I can see is at 1.5810 and as I type now price just made break above the level. Thanks anyway for your constructive contribution.
  • #270,002
  • Jan 25, 2011 6:56pm Jan 25, 2011 6:56pm
Quoting forexcompoun
Thanks bro, the only resistance area that I can see is at 1.5810 and as I type now price just made break above the level. Thanks anyway for your constructive contribution.
You're welcome. We'll all see things a bit differently, so just thought I'd put in my 2 cents. Best wishes.
  • #270,003
  • Jan 25, 2011 7:45pm Jan 25, 2011 7:45pm
Bearish butterfly in progress on 5min tf. New shorts should come in from 1.5870-1.5890. Happy trading!
  • #270,004
  • Jan 25, 2011 7:55pm Jan 25, 2011 7:55pm
Good morning guys..
  • #270,005
  • Jan 25, 2011 9:16pm Jan 25, 2011 9:16pm
Quoting Ctic
I have been waiting for a break of the 5350 before I put in any large positons. For now I have been taking small shorts here ant there. Probably would of been better off going long last week, but didn't really want to fight the short side bias I have. The top we found days ago @ approx 6040, happens to be the 600 ema, and the 138.2 fib for the weekly candle (4H chart). The perfect turn around spot. Of course we could always head back that way to make the 161.8

C.
I have not been posting because my opinion has not changed since I posted this. And as of now... the top I called of 6040 appeared to hold. Still have short bias... Still waiting for the break of the 5350 before my large OCO orders kick in, still taking small shorts when I can.

C.
  • #270,006
  • Jan 25, 2011 9:18pm Jan 25, 2011 9:18pm
Quoting forexcompoun
Hi all, I caught this simple setup for a long on GU early Asian session today. REASONS FOR GOING LONG (1) Simple two bar reversal pattern (Inside bar) forming at 88.6% retrace of yesterday's high to low. (2) MACD shows that there should still be some upmove. Target 200 period (weighted) MA (same as 61.8% retrace level) 1.5870 See chart attached. Happy trading!
If you look at your chart closely you will also see a very nice bear flag there.
  • #270,007
  • Jan 25, 2011 9:19pm Jan 25, 2011 9:19pm
Quoting forexcompoun
Hi all, I caught this simple setup for a long on GU early Asian session today. REASONS FOR GOING LONG (1) Simple two bar reversal pattern (Inside bar) forming at 88.6% retrace of yesterday's high to low. (2) MACD shows that there should still be some upmove. Target 200 period (weighted) MA (same as 61.8% retrace level) 1.5870 See chart attached. Happy trading!
Not to mention your MACD is bearish, and your Stoch are bearish.
  • #270,008
  • Jan 25, 2011 9:32pm Jan 25, 2011 9:32pm
Quoting Ctic
Not to mention your MACD is bearish, and your Stoch are bearish.
Undoubtedly sir, you truly really have a BEARISH bias. Not to worry, the bears should come in when price gets to 1.5870-1.5890. Do have a great trading day sir.
  • #270,009
  • Jan 25, 2011 10:08pm Jan 25, 2011 10:08pm
Green Pips...

http://3.bp.blogspot.com/_eJeoUej2Uk...2011-Table.png

http://3.bp.blogspot.com/_eJeoUej2Uk...26-01-2011.png
  • #270,010
  • Jan 25, 2011 10:26pm Jan 25, 2011 10:26pm
Abu, please, don't post these ALMOST useless reports. Some days ago you expected GU to go up, now down. Your analysis don't see reversals.

Green pips to you as well.
  • #270,011
  • Jan 25, 2011 10:52pm Jan 25, 2011 10:52pm
The 5m is primed if needed for the next session while the
15m has some work to do and could form in the hours or
sessions to come while the 1m is nearly always ready only
needing little to form and release it's energy for the benefit
of the higher tfs. Like waves building in synchrony.

So the market can use either (or any) tf to serve its purpose
as EMAs gather, go into tight compression, release at the
appropriate time and separate producing massive PA (relative
to the tf). I maintain that though moves may be triggered by
news events as their catalyst, the energy that supports the
move and sustains it more often must first be generated from
compression patterns that have built to then release at the
opportune time. Watching for c.patterns that are maturing
(as they often correlate by design) with the opening of market
sessions and news releases, then drilling down to lower tfs
to locate similar patterns that are primed for release to find
optimal entries is a sensible time saving method of trading.

Just my view.

Dr. D.
Attached Images
  • #270,012
  • Jan 25, 2011 10:54pm Jan 25, 2011 10:54pm
Quoting matlock
Abu, please, don't post these ALMOST useless reports. Some days ago you expected GU to go up, now down. Your analysis don't see reversals.

Green pips to you as well.
I'm with you mat...these reports just milead traders here
  • #270,013
  • Jan 25, 2011 10:56pm Jan 25, 2011 10:56pm
Quoting matlock
Abu, please, don't post these ALMOST useless reports. Some days ago you expected GU to go up, now down. Your analysis don't see reversals.

Green pips to you as well.
that's mean you are a swing trader, the report is very clear for intra-day traders and for the short term Max. 3 day's...

PS: you don't have the right to ask me to stop posting, unless this is against ForecFactory policies, which not.
  • #270,014
  • Jan 25, 2011 10:56pm Jan 25, 2011 10:56pm
Mornin all - Thanx for your view 4X - We have had a bounce off the daily 38.2 and 100 day moving average - is this a just a wee retrace or a bounce. In my humble opinion I think it's the former and we'll see 1.5700 today. (Which happens to be the daily 0.50 Fib) I'm still short. - Just my view, take it, leave it.
May the forex be with you |
  • #270,015
  • Jan 25, 2011 11:07pm Jan 25, 2011 11:07pm
Rather than criticize, take the time to learn.

Dr. D.
  • #270,016
  • Jan 25, 2011 11:08pm Jan 25, 2011 11:08pm
Quoting Abu-Rami
that's mean you are a swing trader, the report is very clear for intra-day traders and for the short term Max. 3 day's...

PS: you don't have the right to ask me to stop posting, unless this is against ForecFactory policies, which not.
so you mean cable will go back to 1.6 level after 3 days?
  • #270,017
  • Jan 25, 2011 11:10pm Jan 25, 2011 11:10pm
The way I see it.
Attached Image (click to enlarge)
Click to Enlarge Name: GU.jpg Size: 127 KB
  • #270,018
  • Edited 11:22pm Jan 25, 2011 11:18pm | Edited 11:22pm
this thread is a great source of information in what ever format it comes
and all traders views should be accepted...

whether they are right or wrong or other...

you're better than that
  • #270,019
  • Jan 25, 2011 11:19pm Jan 25, 2011 11:19pm
Thought I'd add a picture. ("A picture is worth a thousand words" Napoleon Bonaparte)

Attached Image
May the forex be with you |
  • #270,020
  • Jan 25, 2011 11:22pm Jan 25, 2011 11:22pm
In London session GBP/USD trend would be sell,but after new-york session open buyer will be more aggression which means BULL will be win all pips.

Take look on following chart there is a W candle formation means there will be sell side for mid-term and bull side will be more compare to SELL side.
http://s2.postimage.org/9kaeondlt/GU26_1.jpg

When Sell Entry Done,buy GBP/USD at point 1.5745
TP1:1.5845
TP2:1.5945
Use stochastic(14,3,3 or 13,3,3) for better entry
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