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Cable Update (GBPUSD)

  • #274,841
  • Mar 28, 2011 4:55am Mar 28, 2011 4:55am
Quoting chazzle
Thanks for putting this up , Kas - some good stuff to learn from in the ol' dudes posts

I update a couple of charts here USDCHF H4 - where we see this rejection of 9230 - Now we can see the inverse correlation to Cable breaking down as both paires are headed south for the time being ...

... and EURGBP W1 - where we can see the pair continuing it's breakout of the wedge to the upside after making a doji in last weeks candle ...

All the best
My pleasure...thanks for the charts !
Good luck for this week ....
All systems of divination, like music itself,work through patterns.
  • #274,842
  • Mar 28, 2011 5:19am Mar 28, 2011 5:19am
poss retrace to H4 KS level

all depends on this doji we have now...it might be a spinning bottom by the time it ends
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  • #274,843
  • Mar 28, 2011 5:43am Mar 28, 2011 5:43am
still early to go down,it must pull back to 1.61+ b4 continue downtrend.
patient is my attitude, rushing is a dog
  • #274,844
  • Mar 28, 2011 5:44am Mar 28, 2011 5:44am
  •  samirb
  • | Joined Nov 2009 | Status: Investing is simple, but not easy. | 247 Posts
Quoting nAVIN2007
http://i648.photobucket.com/albums/u.../chart3-16.gif

morning buddy..i think she is going to 1.57..
just be cautious as monthly close is approaching, so expect this monthly low to break the previous..then possibly a retrace

otherwise opposite scenero..1.60 rebound
Good day,
how you doing bro..

its 3 black crows now.. lets see how this will play.. Great work

Regards
  • #274,845
  • Mar 28, 2011 5:52am Mar 28, 2011 5:52am
Some strong resistance now @ 15985 - are there enough buyers today to push back above? I doubt it and I expect to see low 900s again
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  • #274,846
  • Mar 28, 2011 5:54am Mar 28, 2011 5:54am
revesal signal here in 30 and 1hrs need one more bars...up to go long...
be patient, self-belief and discipline... stay focus...
  • #274,847
  • Mar 28, 2011 5:54am Mar 28, 2011 5:54am
  •  samirb
  • | Joined Nov 2009 | Status: Investing is simple, but not easy. | 247 Posts
Quoting samirb
Good day,
how you doing bro..

its 3 black crows now.. lets see how this will play.. Great work

Regards
forgot chart
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  • #274,848
  • Mar 28, 2011 6:01am Mar 28, 2011 6:01am
here you go huhuhu
be patient, self-belief and discipline... stay focus...
  • #274,849
  • Mar 28, 2011 6:02am Mar 28, 2011 6:02am
Quoting ndsouz
I know a guy who makes 250,000 a day trading forex.. thats what u call wealthy
And I know a guy who breeds flying pigs ...
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  • #274,850
  • Mar 28, 2011 6:11am Mar 28, 2011 6:11am
Quoting chazzle
And I know a guy who breeds flying pigs ...
Love it
All systems of divination, like music itself,work through patterns.
  • #274,851
  • Mar 28, 2011 6:12am Mar 28, 2011 6:12am
Quoting chazzle
And I know a guy who breeds flying pigs ...
lol
  • #274,852
  • Mar 28, 2011 6:13am Mar 28, 2011 6:13am
in 4hrs chart if bearish bar eaten by bullish bar more than 50% so breakout short consider error....huhu..so look for long...want dramatic move wait until usd market open..
be patient, self-belief and discipline... stay focus...
  • #274,853
  • Mar 28, 2011 6:24am Mar 28, 2011 6:24am
Inserted Video
http://www.youtube.com/watch_popup?v...qX6A&vq=medium
All systems of divination, like music itself,work through patterns.
  • #274,854
  • Mar 28, 2011 6:45am Mar 28, 2011 6:45am
V shape guys..trget 160197
be patient, self-belief and discipline... stay focus...
  • #274,855
  • Mar 28, 2011 6:55am Mar 28, 2011 6:55am
I too feel we have hit the bottom (1.59344) and will move toward 1.6050.

But i shall wait and see if the gods (DBFX) agree with my theory.
Our beliefs are based on logic and the pursuit of clearity.
  • #274,856
  • Mar 28, 2011 7:39am Mar 28, 2011 7:39am
Boring PA
  • #274,857
  • Mar 28, 2011 7:48am Mar 28, 2011 7:48am
Pollyanna enjoyed a wonderful stroll last week as she whistled past the grave yard right through Friday. Another report was released at the end of the week that was bad, as well as a raft of similar reports in other countries.

According to Bloomberg “The Thomson Reuters/University of Michigan final index of consumer sentiment decreased to 67.5, the lowest level since November 2009, from 77.5 in February, the group said today.

”Gasoline prices hovering near the highest levels since October 2008 are straining the finances of American households, whose spending makes up about 70 percent of the world’s largest economy. While unemployment has fallen for three months, Japan’s earthquake crisis led to a plunge in stock values, at one point wiping out all of 2011’s gains.”

This data, like nearly all reports, contains several sub-components one of which is an “expectations” reading. The higher the reading, the higher ones overall expectations are for the future. According to the high priests of recession statistics (the NBER) this reading was at 70 when it declared the official end to the recession. What’s interesting about Friday’s “expectations” portion of the Consumer Sentiment report was that it suffered a massive plunge from the prior month’s 72 reading, to 58. It was the 5th largest drop in history.

Despite the Federal Reserve’s contention that overall prices remain level because falling iPad prices offset higher food and energy prices, the average guy in the country doesn’t seem to buy it. As Bloomberg said above, higher gasoline prices (and many others) are straining the finances of American households, thus the HUGE drop in future expectations.

Nevertheless Pollyanna, clad in her most fashionable rose-colored glasses, drove the stock market even higher on Friday.

Due to the Japanese earthquake and mega-tsunami, consumer sentiment in Japan has plummeted, while sentiment in South Korea fell to a 23-month low. The Koreans are also worried about very high oil prices. Perhaps South Korean economists still count oil in its inflation numbers. Sillies! They just need to exclude it like Americans do and their problems will go away. Honest.

It’s no better in Europe. According to Bloomberg “U.K. consumer confidence fell to a record low in February as Britons grew more pessimistic about the sustainability of the economic recovery and the outlook for jobs, Nationwide Building Society said.”

U.K. consumer confidence may dip further after this weekend’s large protests that turned violent in some areas.

Apparently the French are concerned over high oil prices too. Because of this, French consumer confidence has fallen to an 8-month low. Again, the French just need to exclude it from inflation gauges and all will be well. They just need a little lesson in subterfuge from Messrs Greenspan & Bernanke.

But don’t you worry about a thing. As long as Pollyanna has a deeper shade of rose-colored glasses in her possession – all will be well.
  • #274,858
  • Mar 28, 2011 7:49am Mar 28, 2011 7:49am
Quoting ohimae
Boring PA
but whoever has been short for past few days... making a killing
  • #274,859
  • Mar 28, 2011 7:59am Mar 28, 2011 7:59am
Now looking for 16030/ 16066 (200 ema). True to my charts yesterday.
BTW Redbeben WTF is pollyanna? The W stands for Who?
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All systems of divination, like music itself,work through patterns.
  • #274,860
  • Mar 28, 2011 8:06am Mar 28, 2011 8:06am
Quoting chazzle
Some strong resistance now @ 15985 - are there enough buyers today to push back above? I doubt it and I expect to see low 900s again
Well , the bulls have it , and I am with them from 15990 - see if we get this retrace now , TP 16040 SL 15970
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