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Cable Update (GBPUSD)

  • #286,341
  • Aug 15, 2011 11:15pm Aug 15, 2011 11:15pm
Looking 1.6300 for long
Chart Attached
Attached Image (click to enlarge)
Click to Enlarge Name: GU.png Size: 28 KB
  • #286,342
  • Aug 16, 2011 12:06am Aug 16, 2011 12:06am
As i promise before , here is my chart , expect gu to hit 1.6250-1.6260 before up again
Attached Image (click to enlarge)
Click to Enlarge Name: gu.gif Size: 19 KB
  • #286,343
  • Aug 16, 2011 1:07am Aug 16, 2011 1:07am
Quoting Flatfish
I shorted this at 1.6378. Probably not the smartest of trades. But hoping it won't cause me much pain, and may take a while.
This got closed at 1.6350 limit overnight.
My view is bearish. My 30 min his looks to me like at best a wave 4 for you Elliots out there. Waiting for entry.
Attached Image (click to enlarge)
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  • #286,344
  • Aug 16, 2011 1:37am Aug 16, 2011 1:37am
good spotting guys, whoever spotted the GU short, I had it on my radar, however needed to grab some sleep so missed it, anyhow USDX seems like found some support @ 73 80, the question is it a scalp line or a support line, remainds to be seen today.
  • #286,345
  • Aug 16, 2011 1:46am Aug 16, 2011 1:46am
Strong fib support at the 1.6280-1.63 area. Would take a long in that area for a bounce. But as I say if this is a wave 4 they are the hardest waves to trade plenty of chop. Maybe harder work than its worth.
today. Think one of the swissy crosses would provide some bigger intraday trends for a trade.
  • #286,346
  • Aug 16, 2011 2:28am Aug 16, 2011 2:28am
  •  jet4x
  • | Joined Aug 2010 | Status: slow & steady turtle wins the race | 168 Posts
Quoting thor2011
Impresive, i just post my idea on friday , gu will test 1.64 in coming days and it hit on monday...., now gu is ready for down targeting 1.6250 as first target, will post the chart later
im short @ 1.6340....tp 6280....sl 6360 what do u think?
  • #286,347
  • Aug 16, 2011 2:38am Aug 16, 2011 2:38am
Quoting jet4x
im short @ 1.6340....tp 6280....sl 6360 what do u think?
i'm also short targeting 1.6260.. hope will touch it in hours before newyork
  • #286,348
  • Aug 16, 2011 2:42am Aug 16, 2011 2:42am
find below a USDOLLAR index from FXCM
It's comparable with USDX but gives me better charting possibilities.

As can be seen current level (1.6335 for GBP/USD) is a completed pull back from the earlier break of USDOLLAR index making it a critical level.
Currently flat and awaiting direction.

H1:
Attached Image (click to enlarge)
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Don't be a hero. Don't have an ego. Always question yourself
  • #286,349
  • Aug 16, 2011 3:23am Aug 16, 2011 3:23am
6373 became resistance after price broke it when i was sleeping.
and the 6330 came....

it is CPI time.
i let it go n wait
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  • #286,350
  • Aug 16, 2011 3:48am Aug 16, 2011 3:48am
challenging the DP
90% of traders use TA, indicators and prediction
  • #286,351
  • Aug 16, 2011 3:51am Aug 16, 2011 3:51am
I am short on this pair, technically it looks to want to go back down to 1.61 but the PA doesn't seem to want to go that way.

Any ideas? Where do you see this pair and at what time frame?

Regards
  • #286,352
  • Aug 16, 2011 3:51am Aug 16, 2011 3:51am
Thinking of short around 1.6385 area, but if it gets there with any real momentum would abort that idea. Kind of think 1.6470 would really be upside max. I still think 1.62 is going to trade this week, so still prefering to sell rallies
Attached Image (click to enlarge)
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  • #286,353
  • Aug 16, 2011 3:59am Aug 16, 2011 3:59am
the good CPI moving up price.
looks a 'tired' move imho because of indicators still showing possible a move down.

later is BOE inflation letter.
i took a long with CPI im closing now half position

lets see if this h1 candle closes above 6365
Attached Image (click to enlarge)
Click to Enlarge Name: guh1.gif Size: 29 KB
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  • #286,354
  • Aug 16, 2011 4:10am Aug 16, 2011 4:10am
bought @6355 but the market did not overreact as expected, a bit boring
  • #286,355
  • Aug 16, 2011 4:19am Aug 16, 2011 4:19am
Attached
Attached Image (click to enlarge)
Click to Enlarge Name: GU.png Size: 35 KB
  • #286,356
  • Aug 16, 2011 4:38am Aug 16, 2011 4:38am
im holding with stops @BEp

m1 shows reaction @ema60
m5 shows a possible bull flag
Attached Image (click to enlarge)
Click to Enlarge Name: GUm1.gif Size: 21 KB
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  • #286,357
  • Aug 16, 2011 4:41am Aug 16, 2011 4:41am
Quoting _BBKing_
im holding with stops @BEp

m1 shows reaction @ema60
m5 shows a possible bull flag

its going to interesting, i must admit im not sure which direction the trend is in..technically it is up

but theres a bearish quarterly pin..which is obviously saying something else

4hr is looking great for long now
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  • #286,358
  • Aug 16, 2011 4:43am Aug 16, 2011 4:43am
6386 daily opening price
6402 actual daily high
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  • #286,359
  • Aug 16, 2011 4:44am Aug 16, 2011 4:44am
cpi not having much effect.
USDOLLAR Index rejected at pull-back level.
For now no shorts for me, waiting for next USDOLLAR support.

Attached Image (click to enlarge)
Click to Enlarge Name: Picture0283.jpg Size: 86 KB
Don't be a hero. Don't have an ego. Always question yourself
  • #286,360
  • Aug 16, 2011 4:44am Aug 16, 2011 4:44am
Quoting _BBKing_
im holding with stops @BEp

m1 shows reaction @ema60
m5 shows a possible bull flag
M15 show bull also, H1 kind of undecided ~confuse
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