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Cable Update (GBPUSD)

  • #290,381
  • Oct 12, 2011 8:36am Oct 12, 2011 8:36am
should be possible to see 1.5700
im holding with stop @BE
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  • #290,382
  • Oct 12, 2011 8:40am Oct 12, 2011 8:40am
50 level - monthly fibo ( september ) : http://www.forexfactory.com/attachme...2&d=1318135259
Quoting _BBKing_
around 5950
not euphoria follower
  • #290,383
  • Oct 12, 2011 8:41am Oct 12, 2011 8:41am
Quoting _BBKing_
should be possible to see 1.5700
im holding with stop @BE
uhm
out manually +15

strange updown move.

and i need to leave my pc for sometime

good luck you all
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  • #290,384
  • Oct 12, 2011 8:47am Oct 12, 2011 8:47am
Quoting iqyu5an
50 level - monthly fibo ( september ) : http://www.forexfactory.com/attachme...2&d=1318135259

ah ok sorry!!

i thought you meant the 50% from highest to lowest (67 to 5260)

yes 5780-90 strong resistance area which was in need of a test as resistance.
if we brake it we go to 5850.70 at least. best max shall be near 5950 where lies main 50% fibo and also many other factors

there is a very nice setup building for bears but not complete.
dont forget that 51 n 50 levels......
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  • #290,385
  • Oct 12, 2011 9:03am Oct 12, 2011 9:03am

Quoting _BBKing_
ah ok sorry!!

i thought you meant the 50% from highest to lowest (67 to 5260)

yes 5780-90 strong resistance area which was in need of a test as resistance.
if we brake it we go to 5850.70 at least. best max shall be near 5950 where lies main 50% fibo and also many other factors

there is a very nice setup building for bears but not complete.
dont forget that 51 n 50 levels......
not euphoria follower
  • #290,386
  • Oct 12, 2011 9:04am Oct 12, 2011 9:04am
Bought the pull back on risk appetite sentiment.
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  • #290,387
  • Oct 12, 2011 9:06am Oct 12, 2011 9:06am
Quoting _BBKing_
you mean a retrace of today's upmove?
Yes, today's upmove.
  • #290,388
  • Oct 12, 2011 9:15am Oct 12, 2011 9:15am
TP hit again.
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  • #290,389
  • Oct 12, 2011 9:35am Oct 12, 2011 9:35am
There are sell orders, option defense, and stop losses sitting around 1.5820.
I am standing aside for now.
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  • #290,390
  • Oct 12, 2011 9:38am Oct 12, 2011 9:38am
The aqua colored 100 sma on the weekly chart is providing resistance here.
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  • #290,391
  • Oct 12, 2011 10:21am Oct 12, 2011 10:21am
i think now things are bit more clear to me
this is my h1 chart

lets see today what will happen

dotted green upper channel is now near 5870 where if goes straight today i will short for nice pips.

below actual price there is still 5680 5720 area (previous daily high) which imo need test as support if we go more up.

here 5780-5810 price not so clearly reversing yet.
gave nice 60pips move to 5720.

im waiting now a clear reversal pattern to short again here

any other idea?
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  • #290,392
  • Oct 12, 2011 10:35am Oct 12, 2011 10:35am
.
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not euphoria follower
  • #290,393
  • Oct 12, 2011 10:41am Oct 12, 2011 10:41am
Risk appetite was very strong today. Risk is high to short it today.

The hourly chart is forming a flag formation.

London session is closed now with not much profit taking. This tells me that they are holding their long positions.

FOMC minutes later might dampen enthusiasm.
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  • #290,394
  • Oct 12, 2011 10:46am Oct 12, 2011 10:46am
talking about fibos now redrawing it from today's low the 61% is near 5700 and the 50% is at/near previous day high and daily strong black channel
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  • #290,395
  • Oct 12, 2011 10:48am Oct 12, 2011 10:48am
Quoting ovaforty
Risk appetite was very strong today. Risk is high to short it today.

The hourly chart is forming a flag formation.

London session is closed now with not much profit taking. This tells me that they are holding their long positions.

FOMC minutes later might dampen enthusiasm.
bro, london is closing in some minutes but still running...
gosh am i wrong?
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  • #290,396
  • Oct 12, 2011 10:54am Oct 12, 2011 10:54am
imo price going again near ema60 in m5

my short is 1/3 normal position and trailin stop triggers near that ema also support 5750

lets see what happens
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  • #290,397
  • Oct 12, 2011 10:57am Oct 12, 2011 10:57am
its hard work to post all these things
hope some one will get some benefits

if im doing it wrong please tell and i will stop
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  • #290,398
  • Oct 12, 2011 10:59am Oct 12, 2011 10:59am
Quoting _BBKing_
bro, london is closing in some minutes but still running...
gosh am i wrong?
I was referring to London stock markets....
  • #290,399
  • Oct 12, 2011 11:02am Oct 12, 2011 11:02am
Quoting _BBKing_
its hard work to post all these things
hope some one will get some benefits

if im doing it wrong please tell and i will stop
keep posting.
  • #290,400
  • Oct 12, 2011 11:03am Oct 12, 2011 11:03am
Quoting ovaforty
I was referring to London stock markets....
well
anyway sincerely i agree with you 100%
there is no such a strong reject from 5800

no strong profit takings at least
thing will be clearer after FOMC statem and during asia session later

so better be cautious now!

i moved stop @BE just now on my short
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