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Cable Update (GBPUSD)

  • #270,261
  • Jan 28, 2011 2:24am Jan 28, 2011 2:24am
4hr shows yesterday's hi @ that descendingh trend line and that 76.4% 6059-5750 (Daily R1 there today)

G/L
Attached Image
ex member
  • #270,262
  • Jan 28, 2011 2:25am Jan 28, 2011 2:25am
Quoting mdrive
GAP time, usual market condition. it will start rising after 30 minutes
what gap? and no it didn't rise 30 minutes. burn
Thank You
  • #270,263
  • Jan 28, 2011 2:26am Jan 28, 2011 2:26am
Quoting bbmac
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
Good point. I have re-drawn my fib. The 61.8 fib is my TP target.
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  • #270,264
  • Jan 28, 2011 2:27am Jan 28, 2011 2:27am
Hi WM

That was a classic H&S and a retest of the neckline on 1hr...Have a good day.

G/L
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ex member
  • #270,265
  • Jan 28, 2011 2:27am Jan 28, 2011 2:27am
Quoting wormboy
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
You giving up the wild pairs or what wormie lol, hope all is well with you my friend .
  • #270,266
  • Jan 28, 2011 2:27am Jan 28, 2011 2:27am
Quoting digger1
Well, most commodities ..
oi you!
Thank You
  • #270,267
  • Jan 28, 2011 2:27am Jan 28, 2011 2:27am
Quoting fuse
Good point. I have re-drawn my fib. The 61.8 fib is my TP target.
G/L with your trade
ex member
  • #270,268
  • Jan 28, 2011 2:28am Jan 28, 2011 2:28am
Quoting PoundTrader
looking food so far
Giving me an appetite as well. lol

Look at the compression on the 1H.

Dr. D.
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  • #270,269
  • Jan 28, 2011 2:31am Jan 28, 2011 2:31am
Quoting fourxtrader
I offer only hypothetical illusions....
my friend digger enters and tells what is.

Dr. D.
Hey doc , hope all is well with you too my friend , always enjoy your explanations of the compresion and release patterns
  • #270,270
  • Jan 28, 2011 2:32am Jan 28, 2011 2:32am
Quoting wormboy
oi you!
  • #270,271
  • Jan 28, 2011 2:37am Jan 28, 2011 2:37am
Quoting bbmac
Hi WM

That was a classic H&S and a retest of the neckline on 1hr...Have a good day.

G/L
hi mac,

touche my friend, have a great day too
Thank You
  • #270,272
  • Jan 28, 2011 2:44am Jan 28, 2011 2:44am
2 x fibs shown and 50% of the last move down live in that previous 1hr swing lo (prev support) zone....this is the 1st upside barrier for the bulls and where the sell the rally types might come in ?

G/L
Attached Image
ex member
  • #270,273
  • Jan 28, 2011 2:45am Jan 28, 2011 2:45am
Quoting digger1
You giving up the wild pairs or what wormie lol, hope all is well with you my friend .
lol, no man. EU's got my head turned at the moment. that sucker looks like it's forming a top & I badly want a hollywood trade

So how you been my friend? Good to see you're back. John was here earlier, doc, tau, nav, mac & magix are back too. Just need some of the other old farts to come back & tear this place up like last time!
Thank You
  • #270,274
  • Jan 28, 2011 2:47am Jan 28, 2011 2:47am
Quoting wormboy
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
If the pair breaks below the fibcluster at 1.5850-area. Then 1.575 seem`s very likely. With PA as it is now. I am expecing it to break trough on this 4h candle ( 3hours left of that candle ). We are allready under 1.5878 which looks to be the hardest resistance for the day.
  • #270,275
  • Jan 28, 2011 2:48am Jan 28, 2011 2:48am
Quoting bbmac
2 x fibs shown and 50% of the last move down live in that previous 1hr swing lo (prev support) zone....this is the 1st upside barrier for the bulls and where the sell the rally types might come in ?

G/L
Yupp!
  • #270,276
  • Jan 28, 2011 2:51am Jan 28, 2011 2:51am
Quoting Sunsi
We are allready under 1.5878 which looks to be the hardest resistance for the day.
agreed.
I have 5873 printed as the i/d s1. Price on ltf is currently underside. Looks promising
Thank You
  • #270,277
  • Jan 28, 2011 2:52am Jan 28, 2011 2:52am
Quoting wormboy
lol, no man. EU's got my head turned at the moment. that sucker looks like it's forming a top & I badly want a hollywood trade

So how you been my friend? Good to see you're back. John was here earlier, doc, tau, nav, mac & magix are back too. Just need some of the other old farts to come back & tear this place up like last time!
Lol, well just easing back into it a bit , had to let things get over the holidays , looking forward to another banner year , have to make something to pay the taxes for last year argh
  • #270,278
  • Jan 28, 2011 3:00am Jan 28, 2011 3:00am
5min : 2 x HL and 2 x HH's now !!

G/L
ex member
  • #270,279
  • Jan 28, 2011 3:02am Jan 28, 2011 3:02am
hello guys

do u think it still goes down?
in 4H there is a fibo, indicate that it can goes down about 1.5676 where my lower trend line is. and we have a shooting star in daily if i am not mistaken
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  • #270,280
  • Jan 28, 2011 3:02am Jan 28, 2011 3:02am
Quoting wormboy
agreed.
I have 5873 printed as the i/d s1. Price on ltf is currently underside. Looks promising
Surprisingly and annonying end to that candle.. As long as we don`t get a 1h close over 1.5912, not to much to worry about in my book.

Do you have any thoughts on how todays USD GDP can impact this pair ?
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