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Cable Update (GBPUSD)

  • #284,841
  • Jul 22, 2011 3:14am Jul 22, 2011 3:14am
hidden divergence building in 30min/1hr oscillators...will likely see an attempt higher when this bottoms, looking for the signs on sub 1hr t/f's...

G/L
ex member
  • #284,842
  • Jul 22, 2011 3:18am Jul 22, 2011 3:18am
Cable on Pullback now, looking BUY @6250

EU hold above 4380 still now
  • #284,843
  • Jul 22, 2011 3:26am Jul 22, 2011 3:26am
watching 6260.. not only DP but also otherwise an important level (Jun 22 peak broken yesterday) ..if eu falls off the 4380 cliff this lvl may not hold, let's see. but the euro is indestructible so question is if we ever see the DP.
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  • #284,844
  • Jul 22, 2011 3:30am Jul 22, 2011 3:30am
Quoting MaryJane
watching 6260.. not only DP but also otherwise an important level (Jun 22 peak broken yesterday) ..if eu falls off the 4380 cliff this lvl may not hold, let's see. but the euro is indestructible so question is if we ever see the DP.
German Ifo business climate falls more-than-expected but EU did not have much react, maybe 4380 will hold, let's c
  • #284,845
  • Jul 22, 2011 3:41am Jul 22, 2011 3:41am
Quoting Hoang Long
German Ifo business climate falls more-than-expected but EU did not have much react, maybe 4380 will hold, let's c
well, news=movement, not direction. there was a knee jerk kickdown but supposedly huge orders above 4380 got triggered and pimped it up.. it seems eu wants its pip which is higher (and it has to take out my be stop @4423).. cable in slave mode, dancing in vacuum atm.. friday.
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  • #284,846
  • Jul 22, 2011 3:47am Jul 22, 2011 3:47am
GU can recover all daily candle sticks. I Go Long if hourly candlestick ends Bullish
Keep the Lights on then you can catch the rise from the dark.
  • #284,847
  • Jul 22, 2011 3:52am Jul 22, 2011 3:52am
the 15min chart showed us there were buyers in the vicinity and with regular bullish divergence to 5min and hidden divergence building 30m/1hr as discussed here earlier, it was a fair buy...15min printed a PB candle on close of it's 0915 London timer candle.

23.6% of the 6068-6339 was nearest to the current daily lo

Beginning of a push higher or more ranging/downside ?

G/L
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ex member
  • #284,848
  • Jul 22, 2011 3:56am Jul 22, 2011 3:56am
Quoting ricmaj
GU can recover all daily candle sticks. I Go Long if hourly candlestick ends Bullish
maybe but be careful
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  • #284,849
  • Jul 22, 2011 3:58am Jul 22, 2011 3:58am
GU Daily Chart First Support
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  • #284,850
  • Jul 22, 2011 4:06am Jul 22, 2011 4:06am
There is a discernable LH now on 1hr and the hidden divergence on 30m/1hr was not 'fully formed' at the current Lo...it is possibly a warning sign for the bulls, but the greater probability lies with a push higher today (barring any adverse shocks) ...whether that plays out or now.

G/L
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ex member
  • #284,851
  • Jul 22, 2011 4:12am Jul 22, 2011 4:12am
The daily t/f as I see it is below...the LH circled could act as a support on any re-test of course if tested in a deeper pullback but it didn't on a pullback from the H to the HL so i don't have it marked as a potential rbs (resistance becomes support) zone for that reason although am aware of it.

G/L
Attached Image
ex member
  • #284,852
  • Jul 22, 2011 4:14am Jul 22, 2011 4:14am
Looks like a breakout on the daily,hard to
believe it can go up much but thats what my charts
telling me.
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You can remain irrational longer than you can remain solvent.
  • #284,853
  • Jul 22, 2011 4:23am Jul 22, 2011 4:23am
Quoting jezek5
Looks like a breakout on the daily,hard to
believe it can go up much but thats what my charts
telling me.
Need to add i don't see much happening today,
maybe just backing and filling but my chart is saying 6500
to 6700 next week.
You can remain irrational longer than you can remain solvent.
  • #284,854
  • Jul 22, 2011 4:24am Jul 22, 2011 4:24am
2-3 level support
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  • #284,855
  • Jul 22, 2011 4:41am Jul 22, 2011 4:41am
To the downside of current , apart from the previous swing hi/lo's on 1hr/4hr/daily that may act as potential rbs/support respectively...there are some 'clusters' of other potential support factors as follows (if you accept main swing lo's to 6339 are 5779, 6003, 6068, 6119)

6255-58 Daily Pivot & 38.2% 6119-6339

6229-36 28.2% 6068-6339, 50% 6119-6339

6204-12 23.6% 5779-, 38.2% 6003-, 50% 6068-, 61.8% 6119- all to 6339

6171-77 Daily S1 & 50% 6003-, 61.8% 6068-, 76.4% 6119 - all to 6339.

G/L
ex member
  • #284,856
  • Jul 22, 2011 4:46am Jul 22, 2011 4:46am
Finnished for the week and bored,
the ideal play for this would be a pullback
to around 6150,see how price reacts there
and if we hold then the long should be in play.
I'm done,good weekend everyone.
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You can remain irrational longer than you can remain solvent.
  • #284,857
  • Jul 22, 2011 4:53am Jul 22, 2011 4:53am
Finally see-ing some upside follow thru off the pullback Lo on 1hr, the 1hr LH is first obstacle for the bulls...price challenging now.

Closing here and booking the gain, and flat...done for session/day/week.

G/L and have a good w/e.
ex member
  • #284,858
  • Jul 22, 2011 4:58am Jul 22, 2011 4:58am
1.6375 next stop for bulls.
  • #284,859
  • Jul 22, 2011 5:04am Jul 22, 2011 5:04am
1hr bullish thrust candle just closed...rather regretting closing my long but I wanted to finish flat on the w/e...G/L that 6375 is @/about 61.8% 6746-5779.

G/L

Quoting volforex
1.6375 next stop for bulls.
ex member
  • #284,860
  • Jul 22, 2011 5:06am Jul 22, 2011 5:06am
GU Long is confirmed. Buy with the small dips. Target 6356 a trickish resistance at 6331, but it wont hold.
Keep the Lights on then you can catch the rise from the dark.
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