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Cable Update (GBPUSD)

  • #294,221
  • Dec 7, 2011 9:56am Dec 7, 2011 9:56am
already BEP +1
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  • #294,222
  • Dec 7, 2011 9:59am Dec 7, 2011 9:59am
Sorry to be out of topic, just want to share this could be a news driven trade.

'Saudi Arabia boosted crude output to 10M barrels/day, Oil Minister Ali al-Naimi said yesterday. That would be the most since 1980.'
.
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  • #294,223
  • Dec 7, 2011 10:03am Dec 7, 2011 10:03am
cable if trading below 5650, it would be a boring week, imho. hopefully, it can sustain trading above that price.
  • #294,224
  • Dec 7, 2011 10:05am Dec 7, 2011 10:05am
[quote=smikester;5202881]
Quoting Johnny Depp

I tend to disagree with that analysis. The logical trade from here is a SL just below yesterday's high (1.5650). The play off the trend line is classic (1.5670) and has high R:R with a SL of maybe 20 - 30 pips?
i agree, i also think 5650 will be the turning point, if the price trading above than everything will be alright with the bulls. if not we might again into the ranging market.
  • #294,225
  • Dec 7, 2011 10:09am Dec 7, 2011 10:09am
This is to Johnny Depp. (Are you the real Johnny Depp?)

I tend to disagree with that analysis. The logical trade from here is a SL just below yesterday's high (1.5650). The play off the trend line is classic (1.5670) and has high R:R with a SL of maybe 20 - 30 pips?

I had to delete my previous post because the quote button is not working properly.

Anyway, the above is just my view. Hope you won't take offence.
Gone to a better place
  • #294,226
  • Dec 7, 2011 10:17am Dec 7, 2011 10:17am
Hi,

Just back at desk updating charts after own session finished earlier in the London a.m

Big upside rise to the top of the previous 1hr/4hr swing hi zone shown on 1hr chart below

5716-22 prev 4hr/1hr sw hi zone
5727/28 85.4% 5754-5560/76.4% 5780-5560
5744-54 prev minor 4hr/1hr/sw hi zone incl 5747 = 85.4% 5780-5560 and 5749 = Mthly Pivot @/around

5757-80 prev 4hr/1hr sw hi incl 5757 = Daily R3 @/around, 5765 = Weekly R1 @/around, and 5777/79 = 50% 6128-5422 / 76.4% 5888-5422

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

5912-31 prev 4hr sw hi zone incl 5932 = 76.4% 6092-5422
5933 Weekly R2 @/around
5950-60 Daily t/f desc t/line
5963 76.4% 6128-5422
5988/94 76.4% 6165-5422 / 85.4% 6092-5422
6026 85.4% 6128-5422
6055 86.4% 6165-5422
6076-92 prev Dly/4hr sw hi zone incl Monthly R1 @/around 6076 and Weekly R3 @/around 6087

6096-6117-6128 prev dly/4hr sw hi zone
6130-39-65 prev wkly/dly/4hr sw hi zone
6173 = 76.4% 6454-5270
6181 61.8% 6746-5270

Immediate downside of current price per 1hr screenshot below...price testing 38.2% of the last 1hr swing up and tyopside of that breeched previous 1hr descending t/line.

G/L
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ex member
  • #294,227
  • Dec 7, 2011 10:17am Dec 7, 2011 10:17am
Good day to you,

Disclaimer - this pic does not suggest my current view... just something I find funny. Here's to wallstreet...

Regards
Attached Image
  • #294,228
  • Dec 7, 2011 10:17am Dec 7, 2011 10:17am
[quote=A-speculator;5202921]
Quoting smikester

i agree, i also think 5650 will be the turning point, if the price trading above than everything will be alright with the bulls. if not we might again into the ranging market.
  • #294,229
  • Dec 7, 2011 10:20am Dec 7, 2011 10:20am
Quoting DubaiFX
Its time for GBPUSD and EURUSD to Reverse,
i am looking at 5860 target for gbpusd and 3560 fro EURUSD
just bout both lets see..
as i said GBPUSD may go up more this week or more closed half lot,
looking for another at 1.5850

Younas.
Don't compare your Trades with Others
  • #294,230
  • Dec 7, 2011 10:26am Dec 7, 2011 10:26am
Quoting TauTrader
Good day to you,

Disclaimer - this pic does not suggest my current view... just something I find funny. Here's to wallstreet...

Regards

Recession
.
Attached Image
  • #294,231
  • Dec 7, 2011 10:44am Dec 7, 2011 10:44am
Quoting gsantri
Recession
.
Hehe-

Is that cobwebs? Ok - now I understand. To assist you in understanding english better, I am adding the defenition:

cob·web (khttp://img.tfd.com/hm/GIF/obreve.gifbhttp://img.tfd.com/hm/GIF/prime.gifwhttp://img.tfd.com/hm/GIF/ebreve.gifbhttp://img.tfd.com/hm/GIF/lprime.gif)
n. 1. a. The web spun by a spider to catch its prey.
b. A single thread spun by a spider.

2. Something resembling the web of a spider in gauziness or flimsiness.
3. An intricate plot; a snare

Gmff
  • #294,232
  • Dec 7, 2011 10:45am Dec 7, 2011 10:45am
Quoting DubaiFX
as i said GBPUSD may go up more this week or more closed half lot,
looking for another at 1.5850

Younas.
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  • #294,233
  • Dec 7, 2011 10:46am Dec 7, 2011 10:46am
Quoting DubaiFX
as i said GBPUSD may go up more this week or more closed half lot,
looking for another at 1.5850

Younas.
Hi Dubaifx, could you kindly explain your reason or show us your charts?

Btw this is my first post here, but I'v watched this thread for several months, it's very useful.
  • #294,234
  • Dec 7, 2011 10:48am Dec 7, 2011 10:48am
Quoting gsantri
Recession
.
Attached Image
  • #294,235
  • Dec 7, 2011 10:56am Dec 7, 2011 10:56am
Quoting TauTrader
Hehe-

Is that cobwebs? Ok - now I understand. To assist you in understanding english better, I am adding the defenition:

cob·web
n. 1. a. The web spun by a spider to catch its prey.
b. A single thread spun by a spider.

2. Something resembling the web of a spider in gauziness or flimsiness.
[b]3....
  • #294,236
  • Dec 7, 2011 12:00pm Dec 7, 2011 12:00pm
Quoting hnbe
Hi Dubaifx, could you kindly explain your reason or show us your charts?

Btw this is my first post here, but I'v watched this thread for several months, it's very useful.
yes sure.
i dont get much time but when ever i get time i do that, i will upload in minutes.
Don't compare your Trades with Others
  • #294,237
  • Dec 7, 2011 12:50pm Dec 7, 2011 12:50pm
That's my count on gbpusd. I'm a little bullish on it atm., expect a pullback then up.. but I may be wrong.
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  • #294,238
  • Dec 7, 2011 2:19pm Dec 7, 2011 2:19pm
Hi hnbe - welcome - and thanks for the chart. I don't know much about Elliot wave theory and so I was wondering how much of a pull back you would expect. I am seeing good support at 1.56 and also at 1.5680 - 1.57. What do you think? What is your bullish target?
Gone to a better place
  • #294,239
  • Dec 7, 2011 2:39pm Dec 7, 2011 2:39pm
Right below the 4hr 200ema so expecting a classic Asian retrace to 5650 where I expect the 15 min 100MA to be when the move comes. On phone so no chart sorry.
Come with me if you want to live....
  • #294,240
  • Edited 3:27pm Dec 7, 2011 3:04pm | Edited 3:27pm
Quoting smikester
Hi hnbe - welcome - and thanks for the chart. I don't know much about Elliot wave theory and so I was wondering how much of a pull back you would expect. I am seeing good support at 1.56 and also at 1.5680 - 1.57. What do you think? What is your bullish target?
hi smikester, you're so kind. I'm not expert on elliotwave, i'm still learning and I could be wrong.
Just my thought:at the moment wait to see 8h or today's close. If 5723 is today's high, the pullback may be reach 5660s then 5630s/40, or even 5590s,but cannot below yesterday's low( BELOW 5560 my count will be invalid).
In the upside, first price need to break 5750,my first target around 5770s, then 5830s and 5870/90. If above 5950s, could be much higher.
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