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Cable Update (GBPUSD)

  • #292,401
  • Nov 13, 2011 9:28am Nov 13, 2011 9:28am
The scale of the move up on Friday surprised many in this pairing and others...esecially as it was a Bank Hol in the U.s, Cad and Fr. There was however a repeating pattern of regular bullish divergence up to the 1hr t/f at Thursday's / last week's Low.

G/L
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ex member
  • #292,402
  • Edited 11:41am Nov 13, 2011 11:24am | Edited 11:41am
Though not in trade gu last week , seems strikingly still up at the pullack level perhaps due with the intervention in friday & who know if continue so direct without any correction! limit down for correction 5954 , at base of the intervention if taken place before further up good try if actually upside .again breaks 6061 , same as eu 3747 correction to do before or over to finish up leg if any , because doubtfull even with strong upthrust last weekend not neccessary carried out next and C over for a correction can suffice . .
anyway still looking this break ultimately rather continue upside great . . same views in eu also.bearish . lets see how it open today.

failure hold 5860 anytime next week will short for 5112 , go up none .
fontu
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #292,403
  • Edited 1:38pm Nov 13, 2011 1:05pm | Edited 1:38pm
Quoting bbmac
The scale of the move up on Friday surprised many in this pairing and others...esecially as it was a Bank Hol in the U.s, Cad and Fr. There was however a repeating pattern of regular bullish divergence up to the 1hr t/f at Thursday's / last week's Low.

G/L
Yeah , it was a diamond swing at the bottom with added bearish in nature , smaller tf ok not worked or likley convert into symmetrical triacl as did most time but at least validation test at reaction was expected for rejection & go this up . to me all ecb intervention effects only .last h1 candle I see in your chart bear one close with 6062 , may breaks low & continued down as C wave .
If so then pa may be like this , gap up towards 6074 to down or many part be absrbed in any gap down to continue with h4 tf in charge of this unusual correction may act as reversal print .

fontu
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #292,404
  • Nov 13, 2011 2:01pm Nov 13, 2011 2:01pm
Quoting bbmac
The scale of the move up on Friday surprised many in this pairing and others...esecially as it was a Bank Hol in the U.s, Cad and Fr. There was however a repeating pattern of regular bullish divergence up to the 1hr t/f at Thursday's / last week's Low.

G/L
It is expected to go up after the range in 4h, my assumption was it will retest at about 6000-6050 but personally, I didn't really expect it to retest the 6050, definitely not above the 6050, it really caught me off guard. Perhaps it will range in 5900-low 6100 area in daily first, this range can be seen clearly at weekly or perhaps a breakout retest pattern is developing in weekly which retested the low of the previous resistance area (see my attachment for the weekly support turned resistance). Afterall, I not expecting gu will go down to much. If weekly pattern valid ( resistance hold) the most I think gu will go down to about the 5500 area only.

I hate range days.
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  • #292,405
  • Nov 13, 2011 2:21pm Nov 13, 2011 2:21pm
S & R with the fibo in weekly..
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  • #292,406
  • Nov 13, 2011 3:19pm Nov 13, 2011 3:19pm
so now can we say that europe finished its bad run and economy will growth and all european people will earn so much money to pay that kind of huge debt?!

i have a bit doubt about.....

lets see where this up-move will go.
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  • #292,407
  • Nov 13, 2011 3:25pm Nov 13, 2011 3:25pm
Quoting _BBKing_
so now can we say that europe finished its bad run and economy will growth and all european people will earn so much money to pay that kind of huge debt?!

i have a bit doubt about.....

lets see where this up-move will go.
bro what happened on friday to make euro go up ..i have no idea as i was at work..??

as stupid as what i am saying i honestly have no idea..
  • #292,408
  • Nov 13, 2011 3:39pm Nov 13, 2011 3:39pm
Quoting _BBKing_
so now can we say that europe finished its bad run and economy will growth and all european people will earn so much money to pay that kind of huge debt?!

i have a bit doubt about.....

lets see where this up-move will go.
From the looks of daily, seems like the downmove is already takes its place, look how the candle punch thru the 61 fibo support, however, in weekly is a different story. Anyway, that weekly hammer will be valid if the price break its high, until then, I think i will stick with the bear, a very cautious bear..

Hate when they do that on friday, seems like it's a current trend nowadays to intervene the market on Friday. LOL.
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  • #292,409
  • Nov 13, 2011 3:41pm Nov 13, 2011 3:41pm
Quoting nAVIN2007
bro what happened on friday to make euro go up ..i have no idea as i was at work..??

as stupid as what i am saying i honestly have no idea..

i think something here in italy
some approval of austerity etc.....

as usually something that was not in calendars
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  • #292,410
  • Nov 13, 2011 3:51pm Nov 13, 2011 3:51pm
Quoting A-speculator
From the looks of daily, seems like the downmove is already takes its place, look how the candle punch thru the 61 fibo support, however, in weekly is a different story. Anyway, that weekly hammer will be valid if the price break its high, until then, I think i will stick with the bear, a very cautious bear..

Hate when they do that on friday, seems like it's a current trend nowadays to intervene the market on Friday. LOL.
me too still bearish in eu

actually everything looks like a correction upside.
bit early to say and tomorrow european session could boost everything crazy up.
90% of traders use TA, indicators and prediction
  • #292,411
  • Nov 13, 2011 3:56pm Nov 13, 2011 3:56pm
eu and gu gap up above friday closings


eu above 38
gu 6085

xe.com
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  • #292,412
  • Nov 13, 2011 4:06pm Nov 13, 2011 4:06pm
Quoting _BBKing_
me too still bearish in eu

actually everything looks like a correction upside.
bit early to say and tomorrow european session could boost everything crazy up.
EU is what clouding my decision mate, GU weekly seems right for bearish setup.. Is EU forming a morning star? time will tell..
  • #292,413
  • Nov 13, 2011 4:19pm Nov 13, 2011 4:19pm
Swissy weekly and daily also doesn't look good for the bullish, meaning that eu will have more uptrend. In daily swissy still has not form a higher high, infact atm it makes lower high. Will swissy retrace to the 50% fibo?
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  • #292,414
  • Nov 13, 2011 4:33pm Nov 13, 2011 4:33pm
Judging from the TA in fiber, I guess the best price for long is at the 61 fibo, I think it is an acceptable position to test the market. Haven't decided for cable yet.

See you all later..
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  • #292,415
  • Nov 13, 2011 4:48pm Nov 13, 2011 4:48pm
any coder can help with this please?

http://www.forexfactory.com/showthread.php?t=325672
Trade responsiblypatience is the key/Swing trader
  • #292,416
  • Nov 13, 2011 5:15pm Nov 13, 2011 5:15pm
as i said a couple of weeks ago...bulls reside at 16035. Same chart, same LTL as 2 weeks ago.Price has moved..( oh my gosh) A push though 16145 would confirm bulls into play ...imo.... Meanwhile, back to scalpers heaven.
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All systems of divination, like music itself,work through patterns.
  • #292,417
  • Nov 13, 2011 8:37pm Nov 13, 2011 8:37pm
Good day to you,

Closing here for loss. Sitting aside to see what she wants to do. I see a possible continuation higher so limiting exposure here.

Will post chart later as things clear.

Regards and trade well
  • #292,418
  • Nov 13, 2011 9:12pm Nov 13, 2011 9:12pm
Based on my analysis,GU is currently in H4 sideways.Last friday,it create diamond pattern in H1.I would only enter trade once it break the previous HighLow H4.


Twinsummit
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Trade what you SEE, don't trade what you FEEL. Be Smart! - (Webadoi)
  • #292,419
  • Nov 13, 2011 9:22pm Nov 13, 2011 9:22pm
Trying short
.
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  • #292,420
  • Nov 13, 2011 11:14pm Nov 13, 2011 11:14pm
I think last week was a difficult week for all gu swing traders. I took some losses but that is part of trading lol you cannot brag when you make money and you cannot blame the market if you dont. The big thing is sticking with your trading plan and making money at the end of the month.

My trade for today is a pending buy at 1.60494 with sl at 1.59994 and tp at 1.61494. I think we will all like to see some more movement in the market this week.

Im wishing a pips filled week and day for all of you.

Take care
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