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Cable Update (GBPUSD)

  • #289,481
  • Sep 24, 2011 11:11am Sep 24, 2011 11:11am
1 hr cable. 100 ema coming in around 1.5530 sellers have so far been willing to enter there and channel resistance above. Price action more like a bear flag than serious bottom. I think looking for shorts would probably be easier than trying longs unless scalping- but month end so will have to see what the flows are and think cable still has a trick or two to play.
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  • #289,482
  • Sep 24, 2011 2:38pm Sep 24, 2011 2:38pm
Quoting Flatfish
1 hr cable. 100 ema coming in around 1.5530 sellers have so far been willing to enter there and channel resistance above. Price action more like a bear flag than serious bottom. I think looking for shorts would probably be easier than trying longs unless scalping- but month end so will have to see what the flows are and think cable still has a trick or two to play.
You nailed it, bro.
  • #289,483
  • Sep 24, 2011 7:30pm Sep 24, 2011 7:30pm
prz on weekly ?
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not euphoria follower
  • #289,484
  • Sep 25, 2011 5:03am Sep 25, 2011 5:03am
Quoting Flatfish
1 hr cable. 100 ema coming in around 1.5530 sellers have so far been willing to enter there and channel resistance above. Price action more like a bear flag than serious bottom. I think looking for shorts would probably be easier than trying longs unless scalping- but month end so will have to see what the flows are and think cable still has a trick or two to play.

i agree!
90% of traders use TA, indicators and prediction
  • #289,485
  • Edited 5:44am Sep 25, 2011 5:11am | Edited 5:44am
Quoting iqyu5an
prz on weekly ?
1.50 is very interesting level talking about weekly.
there could be main demand!

would be too much easy imo.
this thing is cooking something here in 53's - 54's
maybe a simple consolidation/distribution who knows?

strong zoom out on weekly/monthly you see 1.53 is also strong horizontal line. still can get higher levels until above it

update: added chart seen in another enemy
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90% of traders use TA, indicators and prediction
  • #289,486
  • Sep 25, 2011 5:27am Sep 25, 2011 5:27am
the hourly bear flag appears like this in m15 chart where clearly i see a try to get near 5530-40

a fail and we get again fast into lower 53's.
interesting situation can give 1-2 good trades at start of the week
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90% of traders use TA, indicators and prediction
  • #289,487
  • Edited 6:05am Sep 25, 2011 5:51am | Edited 6:05am
yea bro....

fundamental made 5500 broken easily and made us have new low for 2011.......

below 5500..is very bear ( at least for me ) but as we know ....who knows........... this is fx world.......

5300-5400 yeah......this is very strong S/R in 2010 well........at least weekly candle is ready to break it at the moment ( once again.................. may be )

what about your beach bro ? just go to lombok - indonesia ......if u like beach so much .......

cheers
Quoting _BBKing_
1.50 is very interesting level talking about weekly.
there could be main demand!

would be too much easy imo.
this thing is cooking something here in 53's - 54's
maybe a simple consolidation/distribution who knows?

strong zoom out on weekly/monthly you see 1.53 is also strong horizontal line. still can get higher levels until above it

update: added chart seen in another enemy
not euphoria follower
  • #289,488
  • Sep 25, 2011 6:11am Sep 25, 2011 6:11am
Quoting iqyu5an
yea bro....

fundamental made 5500 broken easily and made us have new low for 2011.......

below 5500..is very bear ( at least for me ) but as we know ....who knows........... this is fx world.......

5300-5400 yeah......this is very strong S/R in 2010 well........at least weekly candle is ready to break it at the moment ( once again.................. may be )

what about your beach bro ? just go to lombok - indonesia ......if u like beach so much .......

cheers
Hey bro
How r u?
Open your PM to b able send u pm
  • #289,489
  • Sep 25, 2011 6:19am Sep 25, 2011 6:19am
????
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not euphoria follower
  • #289,490
  • Sep 25, 2011 6:41am Sep 25, 2011 6:41am
Quoting _BBKing_
the hourly bear flag appears like this in m15 chart where clearly i see a try to get near 5530-40

a fail and we get again fast into lower 53's.
Thats the move I'm hoping to see this week- see some places quoting cable 100pips lower at 1.5369- will see what it opens at. We had strange moves on pms and commodity currencies on Friday so Asia might have some funky moves planned for the yen crosses so would leave cable and euro till Europe opens.
  • #289,491
  • Sep 25, 2011 11:34am Sep 25, 2011 11:34am
Quoting iqyu5an
yea bro....

fundamental made 5500 broken easily and made us have new low for 2011.......

below 5500..is very bear ( at least for me ) but as we know ....who knows........... this is fx world.......

5300-5400 yeah......this is very strong S/R in 2010 well........at least weekly candle is ready to break it at the moment ( once again.................. may be )

what about your beach bro ? just go to lombok - indonesia ......if u like beach so much .......

cheers
beach time ended, next year will get n holiday.. thinking about indonesia/australia
90% of traders use TA, indicators and prediction
  • #289,492
  • Edited 12:47pm Sep 25, 2011 11:55am | Edited 12:47pm
Weekly
Last week's Lo (5237) came at the top of the previous weekly/previous minor monthly swing lo zone descending down to 5291...this zone was tested and held once before in December last year - 2010. Price has printed a LL on this t/f o of the recent 5775-6746 range on that t/f and with it's 100sma (yellow) below the 200sma (red) - it is bearish overall at the moment on this t/f, although you could argue that the wider 'range' on this weekly t/f is between the hi on the chart below and the purple zone down to 5291?

G/L
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ex member
  • #289,493
  • Sep 25, 2011 12:09pm Sep 25, 2011 12:09pm
Daily
The Daily t/f remains in a steep downtrend from 6617 printing a 5th consecutive LL at last week's 5237 which with Friday's bullish candle close is now a fractal swing lo on this daily t/f... 100sma remains above the 200sma on this t/f but it is pointing down and coverging on the 200sma which is slat at the moment.

4hr
4hr too remains ina steep down trend and the downside breech of it's lower descending equidistant channel at last week's 5237 has seen price rebound back inside the channel. 5490 has been the current pullback hi in this downtrend (38.2% 5745-5327) and this area saw late supply into Friday's close some way off this pullback hi.

G/L
Attached Image
ex member
  • #289,494
  • Sep 25, 2011 2:21pm Sep 25, 2011 2:21pm
This is what I posted late Friday........read below



[quote=Faller;4983119]


I will post my daily futures chart and maybe this will give you some insight. It is nothing special just....just shows a falling wedge pattern with a nice daily bar for today, however, stochastics are still buried below 20 and macd is moving down and seperating further so this could just be a little retrace for the day only to continue down or could be the start of a move up. This is why I posted that I will not be holding over the weekend, although I am biased to the up side. The world banks will not things collapse and we will probably see a nice rally in the markets next week......risk on....therefore pound up.

So as I see the price action today....Sunday....and everyone is bearish....but on Onada pound is quoted up at 1.5513

Take a look back at my posts from late last week.


You never know where things will go.....but right now it is up over 60 pips from last trade on Friday.

I was flat over the weekend but in my post on Friday I said that I expected a continued move up.......
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I don't trust any move - when you have profit...take it.
  • #289,495
  • Sep 25, 2011 3:12pm Sep 25, 2011 3:12pm
[quote=Faller;4985570]This is what I posted late Friday........read below



Quoting Faller


I will post my daily futures chart and maybe this will give you some insight. It is nothing special just....just shows a falling wedge pattern with a nice daily bar for today, however, stochastics are still buried below 20 and macd is moving down and seperating further so this could just be a little retrace for the day only to continue down or could be the start of a move up. [color=Red] This is why I posted that I will not be holding over the weekend, although I am...
it is now 5465 after a move 5512-3
about the 'everyone is bearish' depends what we are talking about.. overall price is in downtrend but hourly charts and also faster, can give a lot of good entries for longs
90% of traders use TA, indicators and prediction
  • #289,496
  • Sep 25, 2011 7:47pm Sep 25, 2011 7:47pm
Good evening everyone......

I see there was a nice pop and now drop.....everything seems to be taking a shit kicking except for silver and gold. Dollar index popping big time - euro really getting hammered........what is everyones thoughts?

I am just checking in here.....watching a show with my daughter before she goes to bed......

Will try and do some charting later and post my thoughts.

Cheers,

Faller
I don't trust any move - when you have profit...take it.
  • #289,497
  • Sep 25, 2011 8:27pm Sep 25, 2011 8:27pm
First entry -

Very basic chart I will post - will try and detail it more as the evening moves on.

Entered 4 contracts long at 1.5443 - possibly too early of an entry but going to let it work it's way through will hold a stop loss of previous days pivot around 1.5384. Again I don't feel this is a great entry - was just playing off of Friday's late price action. Stochs have not turned up but trying and macd is also buried.......sometimes I jump in too early. Will post again in a bit.

Comments are welcome.....
Attached Image (click to enlarge)
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I don't trust any move - when you have profit...take it.
  • #289,498
  • Sep 25, 2011 8:43pm Sep 25, 2011 8:43pm
Quoting iqyu5an
????
Hi bro.. long time no see..
Love this annual candle though..

btw, how are you doing this year??
  • #289,499
  • Sep 25, 2011 9:15pm Sep 25, 2011 9:15pm


you don't have to buy love with money dude...........
***
jas fain tengkyu....piye kabare ?
qlo dalam 3 bulan ini or des nanti ... nutup dibawah 5500......bisa cilaka dunia euy

Quoting a2xm
Hi bro.. long time no see..
Love this annual candle though..

btw, how are you doing this year??
not euphoria follower
  • #289,500
  • Sep 25, 2011 9:22pm Sep 25, 2011 9:22pm
Still holding position - nice falling wedge pattern forming. Had a test of a previous up trend line from 8am last friday inside this falling wedge. Waiting for price to break above down trend line and looking for a 20 - 30 pip move and maybe another 100 pip move.

Chart posted with notes.
Attached Image (click to enlarge)
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I don't trust any move - when you have profit...take it.
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