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Cable Update (GBPUSD)

  • #278,181
  • May 3, 2011 2:52pm May 3, 2011 2:52pm
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  • #278,182
  • May 3, 2011 2:52pm May 3, 2011 2:52pm
i am planning this:

6425-6380 should give a possible pullback
can be a quick scalp where let a 30% position to try above 6500

but if price does not come above 6500 quickly, would be a strong signal of 'no-demand' or 'few-demand'
in that case 63 area sure!
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  • #278,183
  • May 3, 2011 2:56pm May 3, 2011 2:56pm
Quoting _BBKing_
uhm
bro... sincerely i think this thing is reversin till 63 area.
was a lot of time i was not such worried on a long position on GBP!

charts are sayin something that my eyes see, but not my brain.
still searching a reason on that 6462.
lot of reasons on 6425 n 6380...
actually I agree King. I see 6343 for tomorrow but 6431 will answer weekend trend if changed thats all.. and for 6462 try some ema 20 on your daily chart almost...
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  • #278,184
  • May 3, 2011 3:03pm May 3, 2011 3:03pm
trend is absolutly bearish
  • #278,185
  • May 3, 2011 3:21pm May 3, 2011 3:21pm
oh god, i just caught up and read Mervyn King speech, so looks like a rise in interest rates is off the cards, so yep, looks like the great cable descent may have started, but does anyone see a small retrace back to 1.6550 or even 1.66, or am i dreaming?
  • #278,186
  • May 3, 2011 3:22pm May 3, 2011 3:22pm
i found it!
i found the hot water!
6459 is "mofu" fibofan.

mofu=44% fibofan.

happens a lot of time it refuses price.
first time i see it so perfect touch!
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  • #278,187
  • May 3, 2011 3:27pm May 3, 2011 3:27pm
i see gu can retracement and after that sell
  • #278,188
  • May 3, 2011 3:28pm May 3, 2011 3:28pm
Chart.....
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All systems of divination, like music itself,work through patterns.
  • #278,189
  • May 3, 2011 3:28pm May 3, 2011 3:28pm
Quoting monkey@forex
oh god, i just caught up and read Mervyn King speech, so looks like a rise in interest rates is off the cards, so yep, looks like the great cable descent may have started, but does anyone see a small retrace back to 1.6550 or even 1.66, or am i dreaming?
depends on where price find demand
because if doesnt go below 6462 (day low) is a thing
below is danger
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  • #278,190
  • May 3, 2011 3:38pm May 3, 2011 3:38pm
Quoting bluefalcon
thank you very much bro
Hope they make sense in the context you were reading them. If I could see that, I could tell you for sure.

All the best.
  • #278,191
  • May 3, 2011 3:40pm May 3, 2011 3:40pm
Quoting _BBKing_
depends on where price find demand
because if doesnt go below 6462 (day low) is a thing
below is danger
Demand zone established . Double bottom 27 april 16444 M1. I could be wrong,
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All systems of divination, like music itself,work through patterns.
  • #278,192
  • May 3, 2011 3:44pm May 3, 2011 3:44pm
Quoting _BBKing_
i found it!
i found the hot water!
6459 is "mofu" fibofan.

mofu=44% fibofan.

happens a lot of time it refuses price.
first time i see it so perfect touch!

you have know idea how jealous I was of gator for those mofu lines.

I love you from now on BB!

Except I can't figure out how to turn it into a horizontal mofu line.
  • #278,193
  • May 3, 2011 4:00pm May 3, 2011 4:00pm
Quoting _BBKing_
i found it!
i found the hot water!
6459 is "mofu" fibofan.

mofu=44% fibofan.

happens a lot of time it refuses price.
first time i see it so perfect touch!
pitchfork too...
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TRUST THE PROCESS !
  • #278,194
  • May 3, 2011 4:21pm May 3, 2011 4:21pm
Testing 7332 again. i'm looking for price to bounce down from here. The two currency pairings (cable and DXY)seem to be in fair mirror correlation.
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All systems of divination, like music itself,work through patterns.
  • #278,195
  • May 3, 2011 4:48pm May 3, 2011 4:48pm
Quoting kaspopsicle
Demand zone established . Double bottom 27 april 16444 M1. I could be wrong,
hello,
i think 6425 should be tested if loose the 6460 today's low..
anyway 6444 can be first reaction line.
lets see time will tell
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  • #278,196
  • May 3, 2011 4:52pm May 3, 2011 4:52pm
Quoting Shadip
you have know idea how jealous I was of gator for those mofu lines.

I love you from now on BB!

Except I can't figure out how to turn it into a horizontal mofu line.
i dont remember who had that if gator or some one else.
was on euro thread....
for fiboretrace you need to set new levels on it at 0.44 and 0.56
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  • #278,197
  • May 3, 2011 4:55pm May 3, 2011 4:55pm
Quoting _BBKing_
hello,
i think 6425 should be tested if loose the 6460 today's low..
anyway 6444 can be first reaction line.
lets see time will tell
Chart?
All systems of divination, like music itself,work through patterns.
  • #278,198
  • May 3, 2011 5:08pm May 3, 2011 5:08pm
Quoting _BBKing_
hello,
i think 6425 should be tested if loose the 6460 today's low..
anyway 6444 can be first reaction line.
lets see time will tell
Are these lines of S/R what you are talking about?
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All systems of divination, like music itself,work through patterns.
  • #278,199
  • May 3, 2011 5:14pm May 3, 2011 5:14pm
thinking on the bull, price today went down due to gov.King speakin about interest rates and also because of bad manufactury data.

if that 6462 (daily sma20, h4sma100, mofu on fibofan...) is the bottom, we can see 65 n 66 area very soon. until below 6565 possible to see HS in h4...

patience still the key
levels are drawn, time will tell
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  • #278,200
  • May 3, 2011 5:18pm May 3, 2011 5:18pm
Quoting kaspopsicle
Are these lines of S/R what you are talking about?
sorry 6461 and 6429
h1 chart
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