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Cable Update (GBPUSD)

  • #291,541
  • Oct 31, 2011 11:30am Oct 31, 2011 11:30am
Cable rejecting the bottom of the previous 4hr swing hi zone leading up to 6206. Above current Hi:


6163-6206 prev 4hr sw hi zone incl 6173 = 76.4% 6454-5270, 6175 = Daily R1 @/around, and 6181=61.8% 6746-5270
6229-6253 previous minor 4hr swing hi zone incl 6224=Weekly R1 @/around
6240-77 prev daily swing lo zone (non-immed) incl 6251 = Daily R2 @/around
6300 76.4% 6617-5270
6319 Weekly R2 @/around
6321-33 previous minor 4hr swing hi zone
6361 Daily R3 @/around
6397 76.4% 6746-5270
6423-53 previous 4hr/daily previous swing lo/hi zone
6486 Weekly R3 @/around

To the immediate downside - Current near-term 1hr screenshot as below.

G/L
Attached Image (click to enlarge)
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ex member
  • #291,542
  • Oct 31, 2011 11:30am Oct 31, 2011 11:30am
Quoting nAVIN2007
it means the monthly close needs to be bullish..to determine main direction next month..in yur time aspect..i think id rather be short for a few than long..if we closed below 1.6

id been concerned as im long longer term..so a reaction there was on the cards at 1.6
I'm day trading, just close around PP
  • #291,543
  • Oct 31, 2011 11:33am Oct 31, 2011 11:33am
Quoting forex killer
I'm day trading, just close around PP
i will be looking for a flag formation here on 4hr to negate the bearish looking dailly (its body is small and troubling for long) bull flag will refresh bulls

or need red bull
  • #291,544
  • Oct 31, 2011 11:33am Oct 31, 2011 11:33am
Entry No. 1. : 6128..long
Trader from Croatia
  • #291,545
  • Oct 31, 2011 11:33am Oct 31, 2011 11:33am
cable and eurusd correlation breaks down last 2 days ie friday and today so far...new highs on fri and today re cabdle but eurusd suffered down days.

Range today is this pairing now @ 133% of the 20day atr.

G/L
ex member
  • #291,546
  • Oct 31, 2011 11:35am Oct 31, 2011 11:35am
Quoting Fudomyo
This is a bit different than just closing the books. Probably with the Swiss and Japanese interventions, Sterling is a safer bet at the moment taking profit out of Euro.

EFSF scaleback of bailout.

thx buddy
  • #291,547
  • Oct 31, 2011 11:55am Oct 31, 2011 11:55am
Quoting nAVIN2007
thx buddy
we're close to the test. 6200 is of particular interest.

pardon all the lines (... work chart)
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  • #291,548
  • Oct 31, 2011 12:33pm Oct 31, 2011 12:33pm
Quoting Fudomyo
we're close to the test. 6200 is of particular interest.

pardon all the lines (... work chart)

could be forming a bull flag..1.62 looks likely
  • #291,549
  • Oct 31, 2011 1:28pm Oct 31, 2011 1:28pm
Attached Image (click to enlarge)
Click to Enlarge Name: cable.gif Size: 15 KB



locked
  • #291,550
  • Oct 31, 2011 2:22pm Oct 31, 2011 2:22pm
Quoting redsword11
Attachment


locked

Attached Image (click to enlarge)
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out most here


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...... other sells, sold crude @ dtl
  • #291,551
  • Oct 31, 2011 3:02pm Oct 31, 2011 3:02pm
Quoting redsword11
Attachment

out most here


Attachment

...... other sells, sold crude @ dtl


closed cable @ 1.60810
  • #291,552
  • Oct 31, 2011 3:28pm Oct 31, 2011 3:28pm
Quoting Geene
Entry No. 1. : 6128..long
Entry No.2: 6083..long
Trader from Croatia
  • #291,553
  • Oct 31, 2011 3:42pm Oct 31, 2011 3:42pm
Quoting Geene
Entry No.2: 6083..long
think short back in play, down to 1.5900 area
  • #291,554
  • Oct 31, 2011 7:02pm Oct 31, 2011 7:02pm
Attached Image (click to enlarge)
Click to Enlarge Name: cable.gif Size: 16 KB
  • #291,555
  • Oct 31, 2011 7:28pm Oct 31, 2011 7:28pm
Quoting redsword11
Attachment

Attached Image (click to enlarge)
Click to Enlarge Name: cable.gif Size: 17 KB




out most and locked


just a scalp
  • #291,556
  • Nov 1, 2011 1:13am Nov 1, 2011 1:13am
BBking
  • #291,557
  • Nov 1, 2011 1:14am Nov 1, 2011 1:14am
good morning
i went long near 6045
hourly pattern suggest more down into 59 area imo.
anyway faster TF looks good for quick moves up

actually will close more than half position if it goes near 6060.

above is DP + Dopen. only if consolidates in faster TF above 6077-6080 i will get longs to target more up.
Attached Image (click to enlarge)
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  • #291,558
  • Nov 1, 2011 1:17am Nov 1, 2011 1:17am
Quoting PoundTrader
BBking
good morning!
yesterday took some hours out. lolz had a long running but targeted 6080.
what a move up it did!!!!!

eur gbp destroyed lolz
eur finally going in the correct direction!

today is GDP preliminar in UK
90% of traders use TA, indicators and prediction
  • #291,559
  • Nov 1, 2011 1:24am Nov 1, 2011 1:24am
Quoting redsword11
Attachment



out most and locked


just a scalp
hello
i drawn similar pattern in my charts
i agree: good for some scalps

imo h1 is targeting lower but who knows?!
actually until no candle closing below 6038 can go a bit up
Attached Image (click to enlarge)
Click to Enlarge Name: gu.gif Size: 23 KB
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  • #291,560
  • Nov 1, 2011 1:33am Nov 1, 2011 1:33am
out half for +9pips
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