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Cable Update (GBPUSD)

  • #279,161
  • May 14, 2011 3:38pm May 14, 2011 3:38pm
Quoting jmtini
.....................Rgds

Jerry
yes of course!! great one

what i mean you see in 5m chart.
on main extreme levels price reject a lot of pips
but hard thing to buy it 6150 yesterday also looking m5.
better at least see m1chart price above ema60 above 6170 for a scalp SL20 pips
sometimes on pullbacks you can get 30-40 pips as fast as the breakouts.

i search for both ones to trade. sometimes i miss them, im thinkin to try work with sell stops n buy stops
Attached Image (click to enlarge)
Click to Enlarge Name: gusdm5.gif Size: 26 KB
90% of traders use TA, indicators and prediction
  • #279,162
  • May 14, 2011 3:39pm May 14, 2011 3:39pm
Quoting Phil Warran
Just got back from a party with Cranium and a few beers. The daily MACD (red and blue lines) looks like an extreme theme park water slide, it has crossed the midline, well seperated, there is no divergence and we have just broken through (and closed) below the 38% daily retrace. Whenever the GU breaks through a significant fib/support/resistance level, if you analyse a lower timeframe or two you will NEARLY always see a retest. That is what is happening here. The daily has closed below the 38 retrace which along with the momentum, indicates further...
I mean RESISTANCE on the 1 hour timeframe
  • #279,163
  • May 14, 2011 3:52pm May 14, 2011 3:52pm
Quoting Phil Warran
Jus..................
hello,
on daily i see price below main wave's fibo from 5930 to 6740.
lost 61.8% indeed lost green line.
next ones are 6125 and 6060 (strong extreme area)
if not get again 6270-90 (hard thing imo) will see 60 area.

triggerin 59 area means more down a lot
Attached Image (click to enlarge)
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90% of traders use TA, indicators and prediction
  • #279,164
  • May 14, 2011 4:23pm May 14, 2011 4:23pm
Quoting _BBKing_
hello,
on daily i see price below main wave's fibo from 5930 to 6740.
lost 61.8% indeed lost green line.
next ones are 6125 and 6060 (strong extreme area)
if not get again 6270-90 (hard thing imo) will see 60 area.

triggerin 59 area means more down a lot
Yes down to 55 imo. We have seen H&S on 4h, and Daily and with the weekly support brick wall we are about to go thru we could see one on the weekly also. Just a thought.
  • #279,165
  • May 14, 2011 4:28pm May 14, 2011 4:28pm
Make that 54 downward. I will be watching for a closed break below the daily 200ema, a retest of it back up, then a break lower. Never sure whether I will sell the retest or the break lower, depends on price action and momentum at the time. A very consistent strategy I have used with good results.
  • #279,166
  • May 14, 2011 4:46pm May 14, 2011 4:46pm
Quoting Phil Warran
Make that 54 downward. I will be watching for a closed break below the daily 200ema, a retest of it back up, then a break lower. Never sure whether I will sell the retest or the break lower, depends on price action and momentum at the time. A very consistent strategy I have used with good results.
i agree.
200ema daily will be near 6000 whole next week
200sma 5990
closing below there also mean closing below main weekly trendline
(euro usd already did it)
5970 and 5960 first fast steps on the trigger
90% of traders use TA, indicators and prediction
  • #279,167
  • May 14, 2011 4:58pm May 14, 2011 4:58pm
i was 'playing' with emas n smas

on weekly chart price touched moving average 60 smoothed.
90% of traders use TA, indicators and prediction
  • #279,168
  • May 14, 2011 5:02pm May 14, 2011 5:02pm
Quoting _BBKing_
i was 'playing' with emas n smas

on weekly chart price touched moving average 60 smoothed.
95% of my indicators tell me We are heading south next week. I'll see how Monday plays out for a break further down.
  • #279,169
  • May 15, 2011 12:21am May 15, 2011 12:21am
This look like a good place to reverse, if not 1.5960 look like next support.
"It's not about the pay check, it's about crushing the rebellion"
  • #279,170
  • Edited 9:09am May 15, 2011 3:49am | Edited 9:09am
Hi
I have an interesting observation. If you mainly trade off the 4hr chart and you use Japanese candlestick trading system you need to have more then one MT4 platform running (from different brokers) if possible. Reason is that different brokers work off different time zones so your candles will be different looking to mine! Pity that the MT4 platform can't be adjusted (as far as I know) to different time zones.


Rgds
Jerry
  • #279,171
  • May 15, 2011 4:15am May 15, 2011 4:15am
Would you please tell me if your TMAC indicator repaints? Would you please suggest me a good reversal indicator..

Thanks.

Quoting TauTrader
Good day to you, San

I can only look at areas where price can bounce / break. Trading from probable extremes is what you want to do. I have scratched on FF and I include an indicator found here in the open forum.

I have played a bit with the settings. The settings I have included in the screenshot. I have marked the points where price touched the bands. These are probable extremes. Can be useful to look at areas where a possible buy may work, or where a possible sell may work.

Couple this with trend and you have a good basis to start...
  • #279,172
  • May 15, 2011 4:52am May 15, 2011 4:52am
Quoting Phil Warran
Yes down to 55 imo. We have seen H&S on 4h, and Daily and with the weekly support brick wall we are about to go thru we could see one on the weekly also. Just a thought.
morning

we will not see 1.55 before 1.66

this down move should be contained by 1.57-58 level and then up if not even earlier
  • #279,173
  • May 15, 2011 5:38am May 15, 2011 5:38am
Quoting redbeben
morning

we will not see 1.55 before 1.66

this down move should be contained by 1.57-58 level and then up if not even earlier
hi red.. i wonder how'd u came out with that superbly accurate analysis? care to share some with us?

  • #279,174
  • May 15, 2011 6:05am May 15, 2011 6:05am
* valid d0wntrendline ( red )
* br0ken uptrendline ( yellow )
* passing Ema 20 + Ema 50 , testing Ema 100 ( seems b0unced )
* tested Dec 12th - April 28th 23.6% fib0 ret & rejected ( magenta ). n0w sitting 0n 38.2%
* { might be t00 early } b0th Pitchf0rk ( aqua ) & fib0 ret April 28th - May 13th ( yellow )

my flash silly c0nclusi0n
* lil upm0ve is reas0nable en0ugh in 0rder t0 test > yell0w trendline -and 0r- 23.6% yell0w fib0 -and 0r- Ema 50
Attached Image (click to enlarge)
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spirit 0f pipping
  • #279,175
  • May 15, 2011 6:13am May 15, 2011 6:13am
from what I have observed , Chart GU is on the retracement stage (It can be a reversal) and I need a further confirmation tomorrow
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  • #279,176
  • May 15, 2011 6:32am May 15, 2011 6:32am
Quoting Mrleeforex
from what I have observed , Chart GU is on the retracement stage (It can be a reversal) and I need a further confirmation tomorrow
Hi Mrlee..can we see retracement up to 1.64XX next week?
  • #279,177
  • May 15, 2011 6:35am May 15, 2011 6:35am
Quoting redbeben
morning

we will not see 1.55 before 1.66

this down move should be contained by 1.57-58 level and then up if not even earlier
Hi red..happy to see your analysis again..how abaout retracement next week? where the market will heading before next 300 pips down will continue?
  • #279,178
  • May 15, 2011 6:50am May 15, 2011 6:50am
I feel price will continue to the daily 200ema, retrace to either the 4 hour or 1 hour 200ema which ever is sitting at a significant fib, support resistance, before its next leg down. Right now the 1 hour and 4 hour are occupying the same space.
  • #279,179
  • May 15, 2011 6:50am May 15, 2011 6:50am
Quoting keyfx
Hi Mrlee..can we see retracement up to 1.64XX next week?
I can't give any 100% assurance feedback for you before the confirmation tomorrow , Currently The Bull strength is very weak at this stage (Bull might go up depending on the market situation). but overall from what I see, GU will go downtrend if Bear manage to hold this position so GU will go further away and will likely to touch below 16100. My expected profit range is 16100 - 16050 (if there is no reversal trend)

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  • #279,180
  • May 15, 2011 6:54am May 15, 2011 6:54am
Quoting Phil Warran
I feel price will continue to the daily 200ema, retrace to either the 4 hour or 1 hour 200ema which ever is sitting at a significant fib, support resistance, before its next leg down. Right now the 1 hour and 4 hour are occupying the same space.
on 2nd look, once we reach the daily 200ema, the 1hour 200ema will probably be sitting around the latest point of what is now resistance at 6245 which is exactly the 68.2 retrace on the daily and is clearly respected as such on the 1 hourly timeframe.
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