Cable Update (GBPUSD)

good see , great .
some unreliable bounce before the break 5595/85, similar to eu , care to daily here also .


http://www.forexfactory.com/showthre...36#post5197236

fontu

Hi All

Still Cable have daily support area 1.5576 to 1.5601

Hi again

Still Cable supported by 4hour trend line

what happened yesterday during US session? oh my, i think we in a accumulation phase right now.

Right now, long @ 5625, high of 1h doji..

Hate, ranging market..

Later guys..

S&P warned all European countries of potential downgrade except Cyprus and Greece.
Futures down 1% so markets could drop more once London opens.

i see.. thanks mate. I thought there would be no significant movement at that time of the day, since it was only US market during the drop. i thought the drop would happen today..

anyway, it triggered my SL and i only managed to bank-in with only some profit.

i still think we in an accumulation phase for fiber and cable and the swissy still in distribution in daily (this assumption will be invalidated if swissy break its daily resistance) so both bear and bull can win during in this ranging market.

update

market situation:

swissy almost at its resistance/previous high and there's significant rejection..

i think there will be interesting movement today for cable and fiber..

later guys.

uhm....

another test position for cable and fiber, previously i have to cut loss due to the breakout of the 23% support in 1h and reenter at high of 4h fractal and doji consolidation area.

chf moving

better looking higher level if we're bear bias ( just my imho )

i take 1 test position for swissy based on 30min candle completion. i think it will ride up to 50% of the tail, but i just take the position..

let's see what's surprises stored for us today..

G/M

2 x LH and a L on the 4hr chart, 1hr being in some consolidation with a drop from yeterday's 5716 Hi to the prev 1hr sw lo zone shown on 1hr screenshot below where it has found some support. Price challenging 38.2% of the fall from 5716 to current daily lo - a prev 1hr minor swing hi zone at the moment.

Potential support/rbs factors to the downside are listed below.

5593-5586 prev 1hr sw lo zone
5587-82-75 prev 4hr/1hr sw lo zone incl 61.8% 5467-5780 incl 5583 = Daily S1 @/around

5573-69 prev 1hr prev minor sw hi zone
5562/59 85.4% 5525-5780/61.8% 5422-5780
5550-36-25 prev 4hr/1hr sw lo zone incl 5541 = 76.4% 5467-5780
5520 Daily S2 @/around
5513 85.4% 5467-5780
5507 76.4% 5422-5780
5503-5495 prev 1hr sw lo zone
5487-77-68 prev 4hr/1hr sw lo zone incl 5476 = 85.4% 5422-5780
5465-60-57 prev 4hr/1hr sw lo zone
5453 Daily S3 @/around
5450-35 Daily Asc t/line incl Weekly S1 @/around 5442
5434-22 prev Daily/4hr/1hr sw lo zone
5410-5390 Steepest Weekly t/f asc t/line
5386 85.4% 5270-6165
5369 Monthly S1 @/around
5420-5345-5330-5270 prev weekly/daily/4hr swing lo zone incl 5290 = Weekly S2 @/around

5189 61.8% 4225-6746
5122 Weekly S3 @/around
5095-85 Weekly t/f asc t/line
5046 Monthly S2 @/around
5015-4947 prev weekly sw lo zone
4819 76.4% 4225-6746
4662 Monthly S3 @/around
4593 85,4% 4225-6746

Potential res/sbr factors to the upside as 1hr chart below, with Daily Pivot @/around 5649, Daily R1 @/around 5713 and Daily R2 @/around 5779.

Bullish div plays 1min thru to 30min at the current lo - 3min shown below as an eg.

G/L

yeah it broken but still daily hold .... waiting for clear move
http://www.forexfactory.com/showthre...82#post5197282

another test entry/stunt by me for eg, due to the price break back to the upside in 30 mins and i see a good support area at about my entry in 1h and 4h..

this entry valid as long as ~8550 hold as support.

Current near-term 4hr is below

G/L

yes i agree
anyway i think its better go for quick positions in actual pattern/market condition.

levels to be broken are 5585 and 5720 to show more strenghten in trend.
lets see what happens today

Good day to you,

My shorter term has now turned flat from selling rallies. STARTED only. Daily is still dip buying status.

However - before I start looking at buying, I want a move lower than the current levels...maybe early 1.55xx or 1.54xx with the daily status still in place. So - waiting still and keeping short for now.

Regards