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Cable Update (GBPUSD)

  • #270,521
  • Jan 31, 2011 6:12am Jan 31, 2011 6:12am
Quoting Exsilium
The breakout UP is discouraging, but after looking at the charts, I do not believe it will hold long above 15900.

See below areas circled in red. To much top pressure IMHO. I think it only accelerated past 15900 because there were a bunch of stops and/or orders placed at that level. Of course, I dont have a clue, but thats my opinion.
I didnt think it would spike quite as high as it did, but I still see some downward pressure in play before it can go back up.
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  • #270,522
  • Jan 31, 2011 6:38am Jan 31, 2011 6:38am
Quoting gsantri
Scenario 2 in play.

Long entered @5902 SL 5874
monthly R1 retested as support.
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  • #270,523
  • Jan 31, 2011 6:46am Jan 31, 2011 6:46am
Good day to you,

Do not know if I am still allowed to post...

GU is in neutral territory. I'm Looking to find direction from EU to assist. EU is in last limbo back up, in my opinion. Bias remain short. I am again building a short on EU and may also take GU short - but for now - standing aside on GU.

EU - to me, is clearer. We may see a push to 1.3720 area... but I will load short from here ( 1.3695 - 1.3720). SL @ 1.3765 area. TP @ 1.3250

See you in a couple of days.

Regards and trade well
  • #270,524
  • Jan 31, 2011 6:50am Jan 31, 2011 6:50am
Quoting TauTrader
Good day to you,

Do not know if I am still allowed to post...

GU is in neutral territory. I'm Looking to find direction from EU to assist. EU is in last limbo back up, in my opinion. Bias remain short. I am again building a short on EU and may also take GU short - but for now - standing aside on GU.

EU - to me, is clearer. We may see a push to 1.3720 area... but I will load short from here ( 1.3695 - 1.3720). SL @ 1.3765 area. TP @ 1.3250

See you in a couple of days.

Regards and trade well
good luck Tau..
  • #270,525
  • Jan 31, 2011 6:54am Jan 31, 2011 6:54am
Selling this channel
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  • #270,526
  • Jan 31, 2011 7:04am Jan 31, 2011 7:04am
Quoting TauTrader
Good day to you,

Do not know if I am still allowed to post...

GU is in neutral territory. I'm Looking to find direction from EU to assist. EU is in last limbo back up, in my opinion. Bias remain short. I am again building a short on EU and may also take GU short - but for now - standing aside on GU.

EU - to me, is clearer. We may see a push to 1.3720 area... but I will load short from here ( 1.3695 - 1.3720). SL @ 1.3765 area. TP @ 1.3250

See you in a couple of days.

Regards and trade well
agree
Verily, in every difficulties there is relief
  • #270,527
  • Jan 31, 2011 7:04am Jan 31, 2011 7:04am
Quoting TauTrader
Good day to you,

Do not know if I am still allowed to post...

GU is in neutral territory. I'm Looking to find direction from EU to assist. EU is in last limbo back up, in my opinion. Bias remain short. I am again building a short on EU and may also take GU short - but for now - standing aside on GU.

EU - to me, is clearer. We may see a push to 1.3720 area... but I will load short from here ( 1.3695 - 1.3720). SL @ 1.3765 area. TP @ 1.3250

See you in a couple of days.

Regards and trade well
I enjoy your posts, both those with market insights and those without. You are constructive and one of the few "regulars" that doesnt engage in flaming others.

I assume from your post that you were wrong about one analysis or another. Honestly, I could care less. I value your opinion right or wrong.

BTW: opportunity to short here at 15910 or so, It will take to long to get my chart saved and edited ...
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  • #270,528
  • Jan 31, 2011 7:06am Jan 31, 2011 7:06am
Quoting gsantri
Scenario 2 in play.

Long entered @5902 SL 5874
Closed for +10 pips.

O shit.. I see bearish divergence on almost all TF.
Better preparing short now..
  • #270,529
  • Jan 31, 2011 7:14am Jan 31, 2011 7:14am
Quoting TauTrader
Good day to you,

Do not know if I am still allowed to post...

GU is in neutral territory. I'm Looking to find direction from EU to assist. EU is in last limbo back up, in my opinion. Bias remain short. I am again building a short on EU and may also take GU short - but for now - standing aside on GU.

EU - to me, is clearer. We may see a push to 1.3720 area... but I will load short from here ( 1.3695 - 1.3720). SL @ 1.3765 area. TP @ 1.3250

See you in a couple of days.

Regards and trade well
Lol, sure your posting has been helpful to a lot of traders . I havent really taken a good look at the eur lately but a few things on the gbp is making me a little leary of shorting it too heavy atm. Currently long from near the days low but a hastily aynalized daily chart . There will be new monthly pivot levels tommorrow so tht may change things a bit but there is room to get a little above 1.61 with my current view ( no not calling for a top there or saying we will even get there but we are above the daily 200 sma above the quarterly open and currently above the monthly open ) . We did get a nice bounce off of the quarterly pivot and looking kinda bull flagish atm if there is such a phrase . Cheers my good friend
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  • #270,530
  • Jan 31, 2011 7:15am Jan 31, 2011 7:15am
Quoting Exsilium
I enjoy your posts, both those with market insights and those without. You are constructive and one of the few "regulars" that doesnt engage in flaming others.

I assume from your post that you were wrong about one analysis or another. Honestly, I could care less. I value your opinion right or wrong.

BTW: opportunity to short here at 15910 or so, It will take to long to get my chart saved and edited ...
Good day to you,

Thank you - appreciated. It was the monumental EJ long called on Friday past. Got "KingOSwing" registered...

Gonna keep it until such time that I am really in the dwang..

I got 3 of the 4 right - so not too shabby. I will however be more reserved in future. You know... if maybe this then maybe that typa stuff.

All the best to you

Regards
  • #270,531
  • Jan 31, 2011 7:28am Jan 31, 2011 7:28am
Quoting digger1
Lol, sure your posting has been helpful to a lot of traders . I havent really taken a good look at the eur lately but a few things on the gbp is making me a little leary of shorting it too heavy atm. Currently long from near the days low but a hastily aynalized daily chart . There will be new monthly pivot levels tommorrow so tht may change things a bit but there is room to get a little above 1.61 with my current view ( no not calling for a top there or saying we will even get there but we are above the daily 200 sma above the quarterly open and...
Gmmff,

Nice little chart... you got going there.

I agree that GU has got ample room to the upside. No clear signal there...

Trying a stab at EU to test the waters...

will see what comes of it.

Regards
  • #270,532
  • Jan 31, 2011 7:37am Jan 31, 2011 7:37am
so much for the unrest in Egypt taking everything..eu and gu keep going up...
  • #270,533
  • Jan 31, 2011 7:39am Jan 31, 2011 7:39am
I havent spent a lot of time with divergences, but can someone confirm that we have a MACD bearish divergence on the 5M?
  • #270,534
  • Jan 31, 2011 7:45am Jan 31, 2011 7:45am
Quoting Exsilium
I havent spent a lot of time with divergences, but can someone confirm that we have a MACD bearish divergence on the 5M?
Yes, its FORMING, not complete yet, confirmed when right slope goes down or the signal crossed.

PS: on higher TF is more reliable.
  • #270,535
  • Jan 31, 2011 7:59am Jan 31, 2011 7:59am
prepare for dive movement, EU and GU. Let's see if NY session have enough oxygen to make it deeper
  • #270,536
  • Jan 31, 2011 8:01am Jan 31, 2011 8:01am
i can see a doji in 1hr chart for GU...any comments guys?
  • #270,537
  • Jan 31, 2011 8:13am Jan 31, 2011 8:13am
Quoting veer2010
i can see a doji in 1hr chart for GU...any comments guys?
Below ive circled the doji Im guessing your asking about. Combined with the other indicators circled in red, and the belief that the move up is limited to 15930 on the top side for the mid term, its easy to assume the doji is actually an indicator of a reversing trend and not just a coincidence.
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  • #270,538
  • Jan 31, 2011 8:15am Jan 31, 2011 8:15am
Quoting Exsilium
Below ive circled the doji Im guessing your asking about. Combined with the other indicators circled in red, and the belief that the move up is limited to 15930 on the top side for the mid term, its easy to assume the doji is actually an indicator of a reversing trend and not just a coincidence.
The recent GU rally was all because of a rally in EU.... It just spiked when I placed my short at 1.5900..lol
  • #270,539
  • Jan 31, 2011 8:17am Jan 31, 2011 8:17am
Quoting veer2010
i can see a doji in 1hr chart for GU...any comments guys?
doji just tells us there MIGHT be indecision. never trade it own its own.
  • #270,540
  • Jan 31, 2011 8:19am Jan 31, 2011 8:19am
Quoting petehnm
so much for the unrest in Egypt taking everything..eu and gu keep going up...
the unrest means nothing. it's just bullshit.
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