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Cable Update (GBPUSD)

  • #270,241
  • Jan 27, 2011 10:25pm Jan 27, 2011 10:25pm
Hi Guys n Girls.

I see the direction of the Cable as bullish. I trade off the 1hr chart, and i am waiting for price to go down around the 1.5850-30 mark and then will be buying.

Will post my entry and SL if price gets to where i want it to.

Peace
Even If It Is A Minority Of One, The Truth Is Still The Truth!!!
  • #270,242
  • Jan 27, 2011 11:05pm Jan 27, 2011 11:05pm
Quoting Aussie_Pride
Hi Guys n Girls.

I see the direction of the Cable as bullish. I trade off the 1hr chart, and i am waiting for price to go down around the 1.5850-30 mark and then will be buying.

Will post my entry and SL if price gets to where i want it to.

Peace
its only bullshit... sell all rallies still on...cheers

p/s: today close below 1.5850..that it....remember daily=weekly=min 250-300pips drop from 5950 area...
  • #270,243
  • Jan 27, 2011 11:28pm Jan 27, 2011 11:28pm
Quoting Aussie_Pride
Hi Guys n Girls.

I see the direction of the Cable as bullish. I trade off the 1hr chart, and i am waiting for price to go down around the 1.5850-30 mark and then will be buying.

Will post my entry and SL if price gets to where i want it to.

Peace
Remember to set your SL and contribute twds liquidity
Peace!
  • #270,244
  • Jan 28, 2011 12:16am Jan 28, 2011 12:16am
Is anyone trading GBP/NZD? Any idea on the same? Is it a good idea to go long on this pair now considering that NZD is over bought and GBP is oversold?
  • #270,245
  • Jan 28, 2011 12:36am Jan 28, 2011 12:36am
Quoting Aussie_Pride
Hi Guys n Girls.

I see the direction of the Cable as bullish. I trade off the 1hr chart, and i am waiting for price to go down around the 1.5850-30 mark and then will be buying.

Will post my entry and SL if price gets to where i want it to.

Peace
maybe i'll follow you..,
I will be the number one Manager.
  • #270,246
  • Jan 28, 2011 12:41am Jan 28, 2011 12:41am
Quoting veer2010
Is anyone trading GBP/NZD? Any idea on the same? Is it a good idea to go long on this pair now considering that NZD is over bought and GBP is oversold?
imo NZD may be overbought, but GBP doesn't seem to have been oversold.
I've only been touching pairs with 3pips spread tho
  • #270,247
  • Jan 28, 2011 1:26am Jan 28, 2011 1:26am
what happened suddenly - 40 pips drop??
  • #270,248
  • Jan 28, 2011 1:29am Jan 28, 2011 1:29am
Quoting nsrajesh
what happened suddenly - 40 pips drop??
GAP time, usual market condition. it will start rising after 30 minutes
  • #270,249
  • Jan 28, 2011 1:30am Jan 28, 2011 1:30am
Quoting fourxtrader
Watching the release of the 5M and how it might affect
the 1H. A sustained release downward will keep the 1H
in its compression formation and cause the 15M and 30M
to continue in their gathering for a more coordinated event.

Dr. D.
We have 4 tfs in compression patterns lending
their energy to this move. How far will it go?

Cheers!

Dr. D.
Attached Images
  • #270,250
  • Jan 28, 2011 1:32am Jan 28, 2011 1:32am
Quoting mdrive
GAP time, usual market condition. it will start rising after 30 minutes
I tend to agree and have put a 10 pip TS on my short I entered yesterday at 15900. All Ive got Stoch across all TF, including 4H, in oversold positions. CCI is under -100 In multiple... (TS just hit)... timeframes.
  • #270,251
  • Jan 28, 2011 1:52am Jan 28, 2011 1:52am
Quoting nsrajesh
what happened suddenly - 40 pips drop??
Well, frankie opened with a spike to the 5 minute 200 ema (red average) , nice big H & S pattern which took all day yesterday to form with the monthly R1, being the neck line , selling finally caught up to it , thts wht happened , cheers
Attached Image (click to enlarge)
Click to Enlarge Name: 15 min.png Size: 50 KB
  • #270,252
  • Jan 28, 2011 1:57am Jan 28, 2011 1:57am
G/M

76.4% 6059-5750 with 1hr/4hr descending trend line provided the supply for the srop off yesterday's 5989 Hi...1hr just printing a LL in the drop following 2 x LH's now. 61.8% of 5768-5989 is where the current lo is in a previous 1hr swing lo zone.

G/L
Attached Image (click to enlarge)
Click to Enlarge Name: z.jpg Size: 92 KB
ex member
  • #270,253
  • Jan 28, 2011 1:57am Jan 28, 2011 1:57am
Quoting digger1
Well, frankie opened with a spike to the 5 minute 200 ema (red average) , nice big H & S pattern which took all day yesterday to form with the monthly R1, being the neck line , selling finally caught up to it , thts wht happened , cheers Attachment
I offer only hypothetical illusions....
my friend digger enters and tells what is.

Dr. D.
  • #270,254
  • Jan 28, 2011 1:59am Jan 28, 2011 1:59am
Quoting digger1
Well, frankie opened with a spike to the 5 minute 200 ema (red average) , nice big H & S pattern which took all day yesterday to form with the monthly R1, being the neck line , selling finally caught up to it , thts wht happened , cheers Attachment
Nice chart. And good Analysis.

Do you expect this down move to be siccnifficant? Personaly I would Expect it to be, after the bad GDP two days ago, and the bad numbers this night. I think the voting have have given this pair more strenght then it deserves. Since the voting happend before the bad GDP, but was release later. It might have confused some traders.

Eying 1.5810 This morning
  • #270,255
  • Jan 28, 2011 2:09am Jan 28, 2011 2:09am
How much demand in this previous 1hr swing lo zone around the 61.8% fib 5768-5989 ?

G/L
ex member
  • #270,256
  • Jan 28, 2011 2:12am Jan 28, 2011 2:12am
Quoting fuse
I'm waiting for price to drop below 1.5878

Price has hit this level a few times and bounced back up.

Hopefully we should see this happen soon.

Good to see 1.5878 broken. I'm short from 1.5926. TP 1.5846. Price seems to have bounced off the 38.2 Fib on my chart.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd-1hr.gif Size: 17 KB
  • #270,257
  • Jan 28, 2011 2:15am Jan 28, 2011 2:15am
Quoting PoundTrader
looking to t/p at 1.5809, short are in play, good luck to all
looking food so far
  • #270,258
  • Jan 28, 2011 2:16am Jan 28, 2011 2:16am
Quoting fuse
Good to see 1.5878 broken. I'm short from 1.5926. TP 1.5846. Price seems to have bounced off the 38.2 Fib on my chart.
The fib in question is invalid - it is plotted of a move down that has already been breeched to the upside on the pullback/recovery...it's just coincidence now...it's more about the 61.8% of the 5768-5989 move up and the previous 1hr swing lo zone

G/L
ex member
  • #270,259
  • Jan 28, 2011 2:22am Jan 28, 2011 2:22am
Quoting Sunsi
Nice chart. And good Analysis.

Do you expect this down move to be siccnifficant? Personaly I would Expect it to be, after the bad GDP two days ago, and the bad numbers this night. I think the voting have have given this pair more strenght then it deserves. Since the voting happend before the bad GDP, but was release later. It might have confused some traders.

Eying 1.5810 This morning
Well, most commodities have been on a tear , (grain markets ) , the oil mkt and the dollar have decoupled a little bit but oil and gold both can and probably will recover quite quickly which shold keep the usd weak , the problem is the minute oil gets up to 90 dollars a barrel or so , the equities mkts get skiddish , really not much hiring going on as of yet so just a whole bunch of computer trading happening. Long story short lol, I hate to really speculate for much more than a day , somebody gets a fat finger or one extra 0 typed in the cp program good patterns can get messed up . Lots of comparisons to turds in the forum lately with good reason lol, seems we have to pick the one tht dont stink as bad as the others and roll with the flow.
  • #270,260
  • Jan 28, 2011 2:24am Jan 28, 2011 2:24am
Quoting Ctic
Yeah, I am holding out for the lower areas. I feel we (eventually) should make a way down towards the 5350 area and I beleive we will break too. I have small positions riding atm with a large OCO waiting below the 5350 area.
I'm pretty contented with the odd 30-40 pips a pop taken from this pair tbh because my attention is thoroughly set on the EurUsd. At a glance, I honestly think 1.575 level on cable is doable at least by today given the hourly H&S neckline break. The 5350 level is also where the neckline for the currently incomplete W1 H&S is at. I'll join you if the neckline goes

Have a good one my friend
Thank You
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