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Cable Update (GBPUSD)

  • #292,321
  • Nov 11, 2011 2:44am Nov 11, 2011 2:44am
G/M,

U.s Veteran' Day Bank Hol and a French Bank Hol today

5681=6165 @ yesterday's lo, the pullback reaching a 5954 hi so far.

Below current price potential supp/rbs factors as below...To the immediate upside as current near-term 1hr screenshot below

Ukm data @ 0930am

G/L
------------------------------------

5905-00 prev 1hr sw lo zone
5885-78-67 prev 1hr/4hr sw lo zone incl 5871 = Daily S1 @/around and
5868 = 61.8% 5681-6165
5865 61.8% 5681-6165
5853 50% 5541-6165
5855-5823-5818 prev 4hr/daily sw hi zone incl 5835= 61.8% 5629-6165, 5833 = Monthly Pivot @/around, 5824=38.2% 5270-6165
5809 Daily S2 @/around
5794 76.4% 5681-6165
5781-5752 prev 4hr sw lo zone incl 5781=61.8% 5541-6165, 5757 =
76.4% 5629-6165 and 5754 = Daily S3 @/around
5734 Weekly S2 @/around
5718 50% 5270-6165
5704-5681 prev 4hr sw lo zone incl 5689 = 76.4% 5541-6165
5660-5629 prev 4hr/daily sw lo zone and prev dly sw hi zone
5613 61.8% 5270-6165
5593 Weekly S3 @/around
5554-5541 prev 4hr/daily sw lo zone
5504-5490 prev 4hr sw hi zone incl 5501 = Monthly S1 @/around
5481 76.4% 5270-6165
5336-5319-5270 prev weekly/daily/4hr swing lo zone
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ex member
  • #292,322
  • Nov 11, 2011 2:45am Nov 11, 2011 2:45am
Quoting smikester
That is not a flag on the daily. On the H4 it can be seen more clearly as a double top formation, with a failure to reach the previous highs 0f 1.6150. 1.5900 is the level to watch.
true! that double top still there.

charts are bit confused imo after yesterday's facts as i posted earlier.
5900 level to watch but also possible a strong rejection at near 5850.

im thinking to take a day off sincerely....
90% of traders use TA, indicators and prediction
  • #292,323
  • Nov 11, 2011 3:18am Nov 11, 2011 3:18am
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90% of traders use TA, indicators and prediction
  • #292,324
  • Nov 11, 2011 3:37am Nov 11, 2011 3:37am
price breaks just below that prev 1hr sw lo out of the recent 1hr range for a new current daily lo on the back of that Uk ppi data release.

G/L
Attached Image
ex member
  • #292,325
  • Nov 11, 2011 3:49am Nov 11, 2011 3:49am



will come back later to see if things are better.
90% of traders use TA, indicators and prediction
  • #292,326
  • Nov 11, 2011 5:23am Nov 11, 2011 5:23am
Quoting _BBKing_
morning (or night)
i notice you using black wall.
is it to avoid noise on candles and focus only on body?

helps me focus on the body, momentum, poles and associated flags etc


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  • #292,327
  • Nov 11, 2011 5:48am Nov 11, 2011 5:48am
only so many times can this pair test 1.59. very close to breaking down and watch out below....patience needed
  • #292,328
  • Nov 11, 2011 6:06am Nov 11, 2011 6:06am
Quoting TauTrader
In the zone I was looking at - will enter longs here - SL tight....

Going out - see later
Good day,

I'm back. Could have done the same trade 3 times over..... Buy low @ 1.5920 - 1.5900 and close. Buy / close. Buy/close.

We will end the day on either 1.5900 or 1.5952.... my thoughts. Still slightly favouring the latter.... But PA all over the show. Maybe time to start reducing risk.

Regards
  • #292,329
  • Nov 11, 2011 6:09am Nov 11, 2011 6:09am
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clusterfcuk
  • #292,330
  • Nov 11, 2011 6:11am Nov 11, 2011 6:11am
Quoting redsword11
Attachment


clusterfcuk
Of note!
  • #292,331
  • Nov 11, 2011 6:18am Nov 11, 2011 6:18am
Quoting redsword11
helps me focus on the body, momentum, poles and associated flags etc


Attachment

Attachment
thank you
90% of traders use TA, indicators and prediction
  • #292,332
  • Nov 11, 2011 6:47am Nov 11, 2011 6:47am
Quoting TauTrader
Good day,

I'm back. Could have done the same trade 3 times over..... Buy low @ 1.5920 - 1.5900 and close. Buy / close. Buy/close.

We will end the day on either 1.5900 or 1.5952.... my thoughts. Still slightly favouring the latter.... But PA all over the show. Maybe time to start reducing risk.

Regards
Staring at the short term charts... trying to make sense of this very compact period.If I had to have an opinion - longs still. I will not short this baby longer term at this point. Not ready as per my personal rules.

Dips for me. BUT - often wrong...

Regards
  • #292,333
  • Nov 11, 2011 7:53am Nov 11, 2011 7:53am
Quoting TauTrader
Staring at the short term charts... trying to make sense of this very compact period.If I had to have an opinion - longs still. I will not short this baby longer term at this point. Not ready as per my personal rules.

Dips for me. BUT - often wrong...

Regards
Good day to you,

Total waste of time. Closing whatever I have going. Better to go lite a fire and BBQ a steak. Playing some darts and listen to 80's music. 1.5925 is a sharp number and we are bound to explode... next week.

Scraps for today - always greatful

See you next week

Cheers
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  • #292,334
  • Nov 11, 2011 8:11am Nov 11, 2011 8:11am
Quoting TauTrader
Staring at the short term charts... trying to make sense of this very compact period.If I had to have an opinion - longs still. I will not short this baby longer term at this point. Not ready as per my personal rules.

Dips for me. BUT - often wrong...

Regards
good day mr tt,
im in agree on what you say.

if i look at h4 chart (same seen in daily) looks more like flag.
smikester correctly pointed out the double top 6150 n weaker 6130.
that double t would be confirmed on the breaking of 5870-5900 demand area.

below i post chart where still price not going at 5850 previous swing high.
only a penetration and a good close in 58 area could open the way for more down.
imho 6040-60 (near that 85% fibo) can be a possible level where search shorts to try the breake downside.

if i am wrong, at least this chart explain the challenge going on here near 5900.
looking other pairs, everything apparently sideway...
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90% of traders use TA, indicators and prediction
  • #292,335
  • Nov 11, 2011 8:17am Nov 11, 2011 8:17am
Quoting _BBKing_
good day mr tt,
im in agree on what you say.

if i look at h4 chart (same seen in daily) looks more like flag.
smikester correctly pointed out the double top 6150 n weaker 6130.
that double t would be confirmed on the breaking of 5870-5900 demand area.

below i post chart where still price not going at 5850 previous swing high.
only a penetration and a good close in 58 area could open the way for more down.
imho 6040-60 (near that 85% fibo) can be a possible level where search shorts to try the breake downside.

if i am wrong, at least...
good day to you, BB

Like your chart...

Target was hit.... Damn. Typical. Well, I am out and going to light the fire. Many more opportunities around the corner.

Wishing you a pleasant week end.

See soon

Regards
  • #292,336
  • Nov 11, 2011 8:18am Nov 11, 2011 8:18am
sold @ 1.59475


manual stop, around 20 points
  • #292,337
  • Nov 11, 2011 8:23am Nov 11, 2011 8:23am
Quoting TauTrader
good day to you, BB

Like your chart...

Target was hit.... Damn. Typical. Well, I am out and going to light the fire. Many more opportunities around the corner.

Wishing you a pleasant week end.

See soon

Regards
have a good weekend you too!
i will be watchin action but not trading maybe...
90% of traders use TA, indicators and prediction
  • #292,338
  • Nov 11, 2011 9:00am Nov 11, 2011 9:00am
Quoting TauTrader
Good day to you,

Total waste of time. Closing whatever I have going. Better to go lite a fire and BBQ a steak. Playing some darts and listen to 80's music. 1.5925 is a sharp number and we are bound to explode... next week.

Scraps for today - always greatful

See you next week

Cheers
Hehe - now seriously pissed... but this is how we are tested. The good thing I can take away today is this: I can fully trust my system. Set and forget.

Friggen' GU.... now really going to party..

See Monday.

Regards
  • #292,339
  • Nov 11, 2011 9:04am Nov 11, 2011 9:04am
Quoting redsword11
sold @ 1.59475


manual stop, around 20 points
Good day,

Sold @ 1.5987 and will add - short scalp only. SL @ 1.6019 ( 50% or pivot of last weeks action)
  • #292,340
  • Nov 11, 2011 9:04am Nov 11, 2011 9:04am
Quoting DubaiFX
GBPUSD SOLD.1.5915

Target: 1.5820
Second: 1.5680

//////

GBPAUD SOLD 1.5705
Target: 1.5600
Second: 1.5480


Lets See if i am wrong
Definitely wrong. your GBPUSD trade now -75 pips under water, GBPAUD +65 as I write this.

GBPUSD and GBPAUD has negative correlation. By shorting both gbpusd and gbpaud you are expecting sterling to go down and aussie go up. In normal condition (no fundamental things on either side) it doesn't make sense.

"Losers live in the past. Winners learn from the past and enjoy living in the present towards the future.."
In what way do you learn from the past ?

I picked on you because of your arrogance.
we supposed to share thinking, listen to each other and reply when asked.

Many great and genius traders yet they are humble, helping noobs in a good way.
To whom I respect and thankful has taught us many things about trading.
.
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