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Cable Update (GBPUSD)

  • #281,361
  • Jun 14, 2011 8:02am Jun 14, 2011 8:02am
Quoting Praga
I remember almost 2 years ago, when somebody would have a different opinion then the mainstream, people start telling he is a complete moron. Reason why i stop for a long time looking in this forum. But things have change. More mutual respect for people 's opinion.

Anyway.

GBP/USD is too weak to push up.
It's good to find open minded people, who discuss and respect other people's opinion.

We are all here try to help and be helped.
GL
  • #281,362
  • Jun 14, 2011 8:03am Jun 14, 2011 8:03am
Quoting Pkurdy
Since the announcement, there are no effect with volatility to push GU, as this zon e is a supply zone. However there is a downward pressure.
Second, we are 10 hours in a consolidation zone.
Any way let's see.

GL

uhm, i agree on the supply area
i still see no signs of strong move both up or down, so... i stay out for a while i expect a fast move soon maybe near dowjones opening time.
lets see
90% of traders use TA, indicators and prediction
  • #281,363
  • Jun 14, 2011 8:04am Jun 14, 2011 8:04am
Don't get me wrong, i'm not blind I do see gbp/usd went up.

But my algorithm says that gbp/usd trend is getting weaker and it has only a force of 0.2 on a scale of -1 to 1. -1 being max bear trend and +1 max bull trend.

This tells me not to jump in the bull train.

  • #281,364
  • Jun 14, 2011 8:07am Jun 14, 2011 8:07am
Quoting _BBKing_
usa data are better than expected

market can react in a 'risk on' mode
let market decide.

and follow it
the 6410 area was breached without no much movements but the 6376 area looks pegged at the moment....am enjoying the pips taking and trading safely
Keep the Lights on then you can catch the rise from the dark.
  • #281,365
  • Jun 14, 2011 8:08am Jun 14, 2011 8:08am
i agree i hope we all are here to share points of view

from actual price 6410 i need a brake below 6380 now to start thinkin on reversal to lower area.
90% of traders use TA, indicators and prediction
  • #281,366
  • Jun 14, 2011 8:08am Jun 14, 2011 8:08am
Can some please post an 1H chart please. Thanks in advance
  • #281,367
  • Jun 14, 2011 8:11am Jun 14, 2011 8:11am
Quoting Praga
Don't get me wrong, i'm not blind I do see gbp/usd went up.

But my algorithm says that gbp/usd trend is getting weaker and it has only a force of 0.2 on a scale of -1 to 1. -1 being max bear trend and +1 max bull trend.

This tells me not to jump in the bull train.


Its either Bears or Bull.......probabilty 1/2. We only trade strategies that has been working for us and not peoples comment. Safe Trending
Keep the Lights on then you can catch the rise from the dark.
  • #281,368
  • Jun 14, 2011 8:15am Jun 14, 2011 8:15am
Quoting ohimae
Can some please post an 1H chart please. Thanks in advance
Here is the 1 H chart
Attached Image (click to enlarge)
Click to Enlarge Name: Zoom6.jpg Size: 146 KB
  • #281,369
  • Jun 14, 2011 8:25am Jun 14, 2011 8:25am
Attached Image (click to enlarge)
Click to Enlarge Name: chart.gif Size: 17 KB
Quoting ohimae
Can some please post an 1H chart please. Thanks in advance
  • #281,370
  • Jun 14, 2011 8:33am Jun 14, 2011 8:33am
Quoting Pkurdy
Here is the 1 H chart

Cool chart!!! According to my logic time to stay out of market and wait till we hit the resistance and then short! Or long is it will brake...
  • #281,371
  • Jun 14, 2011 8:41am Jun 14, 2011 8:41am
Quoting josef
Cool chart!!! According to my logic time to stay out of market and wait till we hit the resistance and then short! Or long is it will brake...
However, the third choice if it will continue and break 1.6375, then it will continue south.
  • #281,372
  • Jun 14, 2011 8:52am Jun 14, 2011 8:52am
Quoting josef
Cool chart!!! According to my logic time to stay out of market and wait till we hit the resistance and then short! Or long is it will brake...
Yep, wait for retracement to end. Re-enter around 16395/16400

TP 16450

Hope it should be around that!
  • #281,373
  • Jun 14, 2011 8:56am Jun 14, 2011 8:56am
relax.....
Attached Image
not euphoria follower
  • #281,374
  • Jun 14, 2011 8:57am Jun 14, 2011 8:57am
As you can see:
First, that 1.6318 is a Gann resis. level and could not be breached above.

Second look at the RSI, where the 62.28((Green Horiz. line) is breached and there weren't any bullish power. However after it was breached south it was retested and fail to breach the gann level.

Third a FIB ext. and retracement levels are confirming as I posted before.

So may it's an ABC wave or forming an Elliot wave 2 downtrend. Anyway, we don't see any bullish momentum as long we are under the RSI level 62.28 and PA below GAnn level of 1.6318.

GL
Attached Image (click to enlarge)
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  • #281,375
  • Jun 14, 2011 8:59am Jun 14, 2011 8:59am
1.6384 is a strong support here from the last few hours, if this break then the next stop will be 1.6328.
jan
  • #281,376
  • Jun 14, 2011 9:08am Jun 14, 2011 9:08am
Last 2 four hr candles forms a inside bar formation. The break below the 6376 give a way to bears. waiting for that movement to short.
  • #281,377
  • Jun 14, 2011 9:18am Jun 14, 2011 9:18am
-
Attached Image
not euphoria follower
  • #281,378
  • Jun 14, 2011 9:20am Jun 14, 2011 9:20am
Descending Triangle in 15 M is formed, so trading the breach of 1.6380 support is logic.

GL
Attached Image (click to enlarge)
Click to Enlarge Name: Zoom8.png Size: 15 KB
  • #281,379
  • Jun 14, 2011 9:26am Jun 14, 2011 9:26am
yesterday high :+/- 6389
not euphoria follower
  • #281,380
  • Jun 14, 2011 9:32am Jun 14, 2011 9:32am
we are witnessing a tired less bull.
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