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Cable Update (GBPUSD)

  • #275,301
  • Apr 1, 2011 7:17pm Apr 1, 2011 7:17pm
In terms of central bank's basic job and responsibility,

BOE is just a Vase compared with all other Central banks!!(ECB,Fed.......)

and just a vase for years!!!


What's BOE & CB for ? if central bank all looks like BOE on earth?
  • #275,302
  • Apr 2, 2011 1:57am Apr 2, 2011 1:57am
Good day to you,

Looking at the 1hr - we may be setting up for a continuation higher...

We are at an extreme - according to the way I look at things. I thus expect a move down from the current level, first. This could be to 1.6050 - but could go as low as 1.6000 - but I doubt. Then back up.

I would not recommend entering long at this point - but to wait for a better price - should long be your preferred direction. Should the scenario change - I will update.

Just my humble opinion.

All the best to you
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  • #275,303
  • Apr 2, 2011 9:11am Apr 2, 2011 9:11am
Quoting Tsar
You're use RENKO Indie ya

Just Remember... TODAY is FRIDAY.
SHE will UP to Price 1.62xx for NEXT WEEK
I would not recommend to cut through the wicks with trendlines, especially on daily chart. I would even allow myself to say that this is a wrong trendline.

Cheers
I found a penny today. That's +100 pips for me.
  • #275,304
  • Apr 3, 2011 8:45am Apr 3, 2011 8:45am
Attached Image (click to enlarge)
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  • #275,305
  • Apr 3, 2011 10:00am Apr 3, 2011 10:00am
1.6250
  • #275,306
  • Apr 3, 2011 3:14pm Apr 3, 2011 3:14pm
possible breakup, but wait for MACD confirmation
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.gif Size: 47 KB
Enter Signature
  • #275,307
  • Apr 3, 2011 3:46pm Apr 3, 2011 3:46pm
hello all
i had some connection problems last week
now slow connection cant post chart too much time

i agree on demand area 6050-6075 hope price will hold there.
supply area 6170-6200(..6220..)

i mean h4 time frame
have a good start of the week
bybye
90% of traders use TA, indicators and prediction
  • #275,308
  • Apr 3, 2011 7:17pm Apr 3, 2011 7:17pm
Quoting ReaM
I would not recommend to cut through the wicks with trendlines, especially on daily chart. I would even allow myself to say that this is a wrong trendline.

Cheers
WISE man says :

When doing Great Job often ignore the Little things.
And if too Little Attention, the Main Work always forget.

Ahh ... I forget the Words of Wisdom

Thank you for your attention


Best Regards,
Tsar
Always looking the GREAT, never left GOOD Point...
  • #275,309
  • Apr 3, 2011 9:05pm Apr 3, 2011 9:05pm
I am waiting for a drop to 1.6070 to begin the formal uptrend, my buy order sits at 1.6080 for this week.

Any move up before that for me is a fishing bait.
  • #275,310
  • Apr 3, 2011 9:13pm Apr 3, 2011 9:13pm
Quoting hindustani
I am waiting for a drop to 1.6070 to begin the formal uptrend, my buy order sits at 1.6080 for this week.

Any move up before that for me is a fishing bait.
The move from 6080 can extend to 6400 subject to break above 6220
  • #275,311
  • Apr 3, 2011 9:29pm Apr 3, 2011 9:29pm
Quoting hindustani
I am waiting for a drop to 1.6070 to begin the formal uptrend, my buy order sits at 1.6080 for this week.

Any move up before that for me is a fishing bait.
Good day to you,

Yes - upside limit at this point is sitting in the 1.6160 area. This number, for me, will change every hour. I am looking for a long entry too - and looking at 1.6050 at this point - but this number will also change for me, as time passes - your 1.6070 -1.6080 area thus seems spot on.

the way I see it with current PA, is that we will make a new high later ( will pass the 1.6150). Time will tell.

All the best
  • #275,312
  • Apr 3, 2011 11:50pm Apr 3, 2011 11:50pm
.
Attached Image (click to enlarge)
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  • #275,313
  • Apr 4, 2011 12:05am Apr 4, 2011 12:05am
Uptrend is there, problem is where is it safe to enter, lol
  • #275,314
  • Edited 12:37am Apr 4, 2011 12:27am | Edited 12:37am
Me thinks the pair will drop back down to 50% of candle, for a quick scalp +10 to +12 pips. During non news and slow session, usually a big candle on uptrend tends to pull back to 50% candle. Good way to scalp a few pips.

HIGH -1.6167

Low - 1.6141

So mid point of candle is 1.6154, so I shorted at 1.6164 and looking to close out +12 pips(2 pips for spread).

Just a quick scalp idea on PA.


Update on scalp : PA moved to + 9.5 pips, so I moved a stop-limit order to +7.5 pips, and it closed there, so +7.5 scalped pips during a slow and boring session, in less then 11 mins.
Attached Image (click to enlarge)
Click to Enlarge Name: gu_50% scalp.JPG Size: 38 KB
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  • #275,315
  • Apr 4, 2011 12:43am Apr 4, 2011 12:43am
Guys! Do you have some nice indicators for the analysis of GBP/USD pair?! Can you share some?!
  • #275,316
  • Apr 4, 2011 1:46am Apr 4, 2011 1:46am
Quoting alex198555
Guys! Do you have some nice indicators for the analysis of GBP/USD pair?! Can you share some?!
Click the 'attachment (paper clip sign) right side above, hide images and you'll find more than 400 indicators in this thread. click 'post for each brief explanation.

Or go to Kill's Grave Yard here.

Hope it helps.
  • #275,317
  • Apr 4, 2011 2:00am Apr 4, 2011 2:00am
Quoting hindustani
Uptrend is there, problem is where is it safe to enter, lol
Good point to discuss & share here. If we late for a move, what should we do? Close our eyes and enter to join the train or doing what else or stay outside and pity? I encountered this kind of situation very very often, and most I stand outside and stare at price move on the screen in pity .
  • #275,318
  • Apr 4, 2011 2:03am Apr 4, 2011 2:03am
Correct me, if I'm wrong but I'm kind of seeing this pattern. I assume that GU will reach 1.6400
Attached Image (click to enlarge)
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  • #275,319
  • Apr 4, 2011 2:05am Apr 4, 2011 2:05am
my breakeven is at 1.6139... i hope it goes up on the news or if not i get breakeven and find a new entry for long...
To Your Success!!
  • #275,320
  • Apr 4, 2011 2:13am Apr 4, 2011 2:13am
Quoting ndsouz
my breakeven is at 1.6139... i hope it goes up on the news or if not i get breakeven and find a new entry for long...
breakeven...35,000 profit. will try to take entry 40lots again when it comes close to 1.6100 or below
To Your Success!!
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