Cable Update (GBPUSD)

Good day to you,

Heh - if I could only do the same with some of the trades yesterday....

Nah - I think Redsword11 is one ahead of me on this - he's taking the piss out of me.

Gotta run - be safe, trade well

Regards

hai everyone...still new in this thing...

i believe that gu will go down for today...i still hold my sell from yesterday 1.5771 and [email protected] about you guys?

Have a good one Mr.TT.
I would not recommend you to go to the gym.

Regards,

G/M,
First day of a new month and new Monthly Pivots calculated.
Yesterday's big move up in cable from the 5525 Lo produced a Bullish bodied Daily candle with an equal-ish sized wick at each end. The high of 5780 came at the 50% 6128-5422 / 76.4% 5888-5422...the area leading up to yesterday's Hi is now a previous minor 4hr/1hr swing hi zone. Price has pulled back from that 5780 Hi and is currently challenging 50% 5525-5780

Price remains in a classic downtrend on Daily with 50sma below the 100sma and that in turn below the 200sma on this t/f...price ...the pullback from 5422 is still below the last (and 3rd LH) on this t/f's downtrend and came @/around it's 50sma.

Conversely 4hr is in a classic uptrend with 2 x HH's and 3 x HL's now although sma's remain as the daily. The hi yesterday came as price breeched the 100sma to the upside.

1hr too is in an uptrend although not as clean (classic) as the 4hr. The 50sma has crossed up thru the 100sma on this t/f .

@/above yesterday's hi - the following potential res/sbr factors are identified: (Note too that there are descending trendlines on 1hr and 4hr.)

5745-60-80 prev minor 4hr/1hr sw hi zone incl 5777/79 50% 6128-5422 / 76.4% 5888-5422
5792 50% 6165-5422
5802-06 prev 1hr sw hi zone
5808 Daily R1
5820 85.4% 5888-5422
5836 61.8% 6092-5422
5859-75-88 prev Dly/4hr/1hr sw hi zone incl 5859 61.8% 6128-5422, and 5880 = 61.8% 6165-4422
5912-31 prev 4hr sw hi zone incl 5919 Wkly R2 @/around, 5920 Daily R2 @/around and 5932 = 76.4% 6092-5422
5963 76.4% 6128-5422
5988/94 76.4% 6165-5422 / 85.4% 6092-5422
6026 85.4% 6128-5422
6045 Wkly R3 @/around
6055 86.4% 6165-5422
6062 Daily R3 @/around
6076-92 prev dly/4hr sw hi zone incl Monthly R1 @/around 6076
6096-6117-6128 prev dly/4hr sw hi zone
6130-39-65 prev wkly/dly/4hr sw hi zone

@/below current price the 1hr chart below shows the immediate near-term potential support/rbs factors. The Daily Pivot is @/around 5667 and Daily S1 is @/around 5554 with the Weekly Pivot just below @/around 5549. Daily S2 is just below last week's 5422 Lo @/around 5413

Hope you moved your stop loss when it broke 1.5700.

consolidation here and possible a move to daily open price and/or more.
if fail will visit 5600

better seen in m30 and m15.

will switch to m5 to see action in this area.

good luck you all

...found some demand at that previous 1hr/4hr swing hi zone (prev resistance) at the 38.2% 5422-5780...nice little 1min bullish div play there.

G/L

prev 1hr swing lo and 23.6% of the drop from 5780 the 1st upside hurdle

G/L

a drop down from that prev 1h sw lo zone / the then 23.6% and price tests deepr in the prev 1hr/4hr prev sw hi zone...this time a 3min bullish div play there..the move up breaking through that 1st upside hurdle now...
other upside hurdles per the 1hr chart below. Uk data at 0930am gmt.

G/L

09.30 London time.

- Manufacturing PMI

- Spain and France both have bond sales planned and will auction off as much as €3.75B and €4.5B, respectively, in one of the first tests of investor confidence following yesterday's coordinated central bank action.

Closed short at 1.5650 target from 1.5772. Am expecting a ranging day today and don't see much in the charts at the moment, consolidation today before NFP-, which I never really trade unless an obvious setup appears, so will probably just be watching- have filled my quota of pips for the week and a few extra. Good trading to all

update GU

big map

If your not trading at the moment here is a link to a video of Jim Trott chief dealer at the BOE who was on the other end of the Cable collapse of 1991 by Soros, but has some interesting points to make if your interested in cable and how Central Bank traders think.
http://www.forexlive.com/forextravaganza2011/

not taking the piss, no way


sold @ 1.57270, got earlier sells to0 a bit lower


tg zone 1.56900

....strong upside break from the 4hr pullback lo...this could well turn out to be the 4th fractal HL on 4hr - time will tell...testing 76.4% 5780-5636 now.

Above here: (5780 is yesterday's hi.)

5745-60-80 prev minor 4hr/1hr sw hi zone incl 5749 = Mthly Pivot @/around, 5757 = 85.4% 5788-5636 and 5777/79 = 50% 6128-5422 / 76.4% 5888-5422

5792 50% 6165-5422
5802-06 prev 1hr sw hi zone
5808 Daily R1
5820 85.4% 5888-5422
5836 61.8% 6092-5422
5859-75-88 prev Dly/4hr/1hr sw hi zone incl 5859 61.8% 6128-5422, and 5880 = 61.8% 6165-4422

5912-31 prev 4hr sw hi zone incl 5919 Wkly R2 @/around, 5920 Daily R2 @/around and 5932 = 76.4% 6092-5422

5963 76.4% 6128-5422
5988/94 76.4% 6165-5422 / 85.4% 6092-5422
6026 85.4% 6128-5422
6045 Wkly R3 @/around
6055 86.4% 6165-5422
6062 Daily R3 @/around
6076-92 prev dly/4hr sw hi zone incl Monthly R1 @/around 6076
6096-6117-6128 prev dly/4hr sw hi zone
6130-39-65 prev wkly/dly/4hr sw hi zone

G/L

Good day to you,

In keeping with my short term strategy - sell the rallies for scalps - enter short @ 1.5735. Will see

Regards

Taking shorts now only scalps. Price between 100 and 200 ema, so expecting random swings. Not chasing any moves today just looking for signs to fade.

Good day to you,

Gmmff,

See you are ahead of me here...well played.

Killer

Regards