Cable Update (GBPUSD)

Your welcome Bro


ID: lagi pada fokus kali hee..

Hi wormie,

Before Market's will CLOSE or Next Monday

Hi Guys,

I'm finish today and will Rest Now...

I wish make GREEN Pips for ALL.
Happy Weekend


Best Regards,
Tsar

time to close your shop..
i'm done...close last long..,
i will never leave my little honey sweety cow lonely,there are too much wild bear being angry out there...

see you and have a great weekend...



.

ow.. last trade hit the stop loss..

no worry, still profit in yesterday trade accumulation..
cant wait for monday...

.lol. an important outcome is profit

guys i nailed this back in march 2010, up to 2.0 we go

Monday is fast approaching guys!!

LONG or SHORT??

On Ichimoku daily timeframe GBP is not actually showing any lasting Bullish strenght, it is somewhat flat or I might be wrong.

Love to hear your positions.

Thanks.

Cable weekly chart analysis

I will potentially trade a break of 1.6300 next week with a pullback retest showing bullish price action. Alternatively a false break of 1.6300 with a big bearish reversal bar would be of interest for a small retrace only. A bullish signal at 1.6 would also be of interest.

1. Key initial resistance at 1.6300. If broken then 1.6454 could cause a retrace. Major resistance at 1.6750-1.6850 zone then a clear significant price pivot area at 1.70 area which could be seen in the coming weeks.
2. Key support at 1.6.

Further chart analysis

cheers

fxp

Two basic rules that have always been applied in one's trading principles:
1) The Trend Is Your Friend!
2) Buy Low - Sell High!

These principles may not be easiest to combine as the first one is more for trend chasers and another for top and bottom catchers. Both principles are important for both kind on traders though! Many traders are still bull biased - on the top of the range! In my opinion, one has to be a heck strong believer of a strong breakout.

What kind of setup is successful in the long run? It's a setup which probability (>50%) and risk-reward ratio (>2:1) is high. What is the probability for a breakout and then heading to 1.70? Controversially, what is the probability for bouncing off the roof (1.63) or a false breakout? According professionals of technical analysis industry, the latter is more probable.

Technical

The Cable has been trending up since late December 2010 from 1.53 till 1.63. The cause of reversal of the last trend was a divergence: oscillators screamed "it's a bear divergence!!". Now I've been hearing these same voices as the price have been reaching its weekly/daily range top.


http://3.bp.blogspot.com/-A7Tov_t_40...e-analysis.png

But still, remember: "The Trend Is Your Friend!" - entering a short trade would violate this rule. Long trade would violate the second rule: "Buy Low - Sell High!". So the best choice would be in my opinion waiting.

Fundamental

I don't trade fundamentals. But I do apply them, for example when a breakout or trend reversal occurs. For me it's not important what the numbers are but how they reflect in technicals. If BoE hiked rates, it would indeed give more pressure for the pound to strengthen. We would likely see a strong range breakout that would open a way till 1.70

how can we know the price is above to sell, and price below to buy,,? :nerd:

Supports and resistances, oscillators, fans, channels etc. There's various tools for different kind of traders. To sign about reversal or continuation of the trend the most of them have to point in the same direction.

It's all about probabilities. Probability for a reversal is high as we are now at the top of the range 1.53-1.63. Beware false breakouts.

Over the course of the next week or so it looks like there is more upside potential. Price will show us the way.

thanks,,

then, how do we know the price already overbough,,?
is still 1.63, there is still 1.64 or even 1.65

sorry, i'm nubie,,

I suggest that every trader on this thread reads through the attached document before market opens.
Have a great day!
Meshach

if using Ichimoku, try see TF Weekly,
there has been bullish signals from the clouds

6 days left to trade this month.

Looking back at last month's range/candle that was up 500 points, all TF now trending up and with the rumors of rates hike can be blown anytime as happened to euro before, is it possible that the yearly high will be reached ?

Only time will tell.
.

Some S/R on weekly...

Added some stuff in my analysis. Please, check out my blog for more information by clicking link in the signature:

http://4.bp.blogspot.com/-hcDhqVRDBb...d+analysis.png

http://farm6.static.flickr.com/5174/...b2e2399c40.jpg

a screenshot of my last Friday's trade expected more movement to the upside but it was weak! still profitable thu