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Cable Update (GBPUSD)

  • #294,581
  • Dec 13, 2011 2:03am Dec 13, 2011 2:03am
Quoting rainyroxo
i saw a lot of resistance @ 5580 . possible probability for long before establish trend is determine.
oh yes! mine was simply a med term idea based on daily chart.
then faster timeframes shows a lot of up-down!
90% of traders use TA, indicators and prediction
  • #294,582
  • Dec 13, 2011 2:08am Dec 13, 2011 2:08am
Quoting batman888
Hi everyone, I'm new in fxfactory.

My trade setup before london open. Looking to short cable around 1.5640-60, depending on price action.
hello,
welcome to the forum

im also interested in a short position to target 54 area (or lower)
not yet seen what i need to see.
so meanwhile i get some scalps
90% of traders use TA, indicators and prediction
  • #294,583
  • Dec 13, 2011 2:12am Dec 13, 2011 2:12am
Quoting gsantri
'he still here..
.
maybe him, maybe not
  • #294,584
  • Dec 13, 2011 2:20am Dec 13, 2011 2:20am
Quoting normfx
Well, hell, since everyone's skeered to trade, I may as well go long..Target 1.56655.
Entry 1.55920
stop 250 pips
hello,
why 70pips tgt with 250pips SL?
just asking because i agree on your entry but totally disagree on that stop so need to understand your reasons....
90% of traders use TA, indicators and prediction
  • #294,585
  • Dec 13, 2011 2:26am Dec 13, 2011 2:26am
18pips rejection near 5630
90% of traders use TA, indicators and prediction
  • #294,586
  • Dec 13, 2011 2:50am Dec 13, 2011 2:50am
AU signal for apparent start again , next levels care gu 5531,5514,02 below 5475 as it will not miss any spike chance whenever a level as usual .
http://www.forexfactory.com/showthre...80#post5217780
fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #294,587
  • Dec 13, 2011 3:57am Dec 13, 2011 3:57am
im working to refresh h4 setups
Attached Image (click to enlarge)
Click to Enlarge Name: gu.jpg Size: 101 KB
90% of traders use TA, indicators and prediction
  • #294,588
  • Dec 13, 2011 4:29am Dec 13, 2011 4:29am
Quoting _BBKing_
hello,
welcome to the forum

im also interested in a short position to target 54 area (or lower)
not yet seen what i need to see.
so meanwhile i get some scalps
FTSE and european stocks turned green so far.

am still flat in cable but sold gbpaud since 1.5500 and bought crude at 97.70
hopefully no bad news coming. 3 hours to US data.
  • #294,589
  • Dec 13, 2011 5:14am Dec 13, 2011 5:14am
even the euro alone is up.. now what is holding cable lol..
  • #294,590
  • Dec 13, 2011 5:39am Dec 13, 2011 5:39am
OK guys this isn't cable but just a technical view of USDX. Worth bearing in mind this level has been touched (79.60) for the third time this year and showing triple divergence on most oscillators.

My trade of choice might not be cable, but it looks like we are in for a bout of dollar weakness across the board.

As far as cable is concerned, I'm still waiting for a convincing move outside the NFP day which was now two weeks ago. is it any wonder traders take a break during December?

Anyway heres a chart:

Attached Image (click to enlarge)
Click to Enlarge Name: usdx121212d1.gif Size: 162 KB
Gone to a better place
  • #294,591
  • Dec 13, 2011 5:51am Dec 13, 2011 5:51am
G/M,

Bearish bodied daily candle yesterday as the 5780-5536 (yesterday's lo) range continues on daily/4hr...1hr too see-ing some rangy conditions.

Potential resistance/sbr factors to the immediate upside per near-term current 1hr chart below, Daily R1 being @/around 5645, Daily R2 5711, Daily R3, 5765...and to the downside of current price - as listed below:

5573-66 prev 1hr sw lo zone
5565 76.4% 5536-5657
5554 85.4% 5536-5657

[ 5558-40-36prev 4hr/1hr sw lo zone incl 5541 = 76.4% 5467-5780
[ 5536-25 prev 4hr/1hr sw lo zone

5524 Daily S1 @/around
5513 85.4% 5467-5780
5507 76.4% 5422-5780
5503-5495 prev 1hr sw lo zone
5487-77-68 prev 4hr sw lo zone incl 5476 = 85.4% 5422-5780 and 5470 = Daily S2 @/around

5465-57 prev 4hr sw lo zone
5456 Weekly S2 @/around
5480-60 Daily t/f asc t/line on tues daily candle
5434-22 prev Daily/4hr sw lo zone

[ 5420-5400 Steepest Weekly t/f asc t/line
[ 5404 Daily S3 @/around

5386 85.4% 5270-6165
5369 Monthly S1 @/around
5353 Weekly R3 @/around
5334-5314- 5270 prev Weekly/Daily/4hr sw lo zone
5189 61.8% 4225-6746
5110-5395 Weekly t/f asc t/line
5046 Monthly S2 @/around
5038 Weekly S4 @/around
5015-4947 prev Weekly sw lo zone
4819 76.4% 4225-6746
4662 Monthly S3 @/around
4593 85.4% 4225-6746

G/L
Attached Image (click to enlarge)
Click to Enlarge Name: z.jpg Size: 90 KB
ex member
  • #294,592
  • Dec 13, 2011 5:59am Dec 13, 2011 5:59am
Quoting gsantri
FTSE and european stocks turned green so far.

am still flat in cable but sold gbpaud since 1.5500 and bought crude at 97.70
hopefully no bad news coming. 3 hours to US data.
The City boys that have not been on vacation will probably go to lunch now.
partially closed and locked. bbl at NY.

US futures has turned green as well.
  • #294,593
  • Dec 13, 2011 6:09am Dec 13, 2011 6:09am
Quoting smikester
OK guys this isn't cable but just a technical view of USDX. Worth bearing in mind this level has been touched (79.60) for the third time this year and showing triple divergence on most oscillators.

My trade of choice might not be cable, but it looks like we are in for a bout of dollar weakness across the board.

As far as cable is concerned, I'm still waiting for a convincing move outside the NFP day which was now two weeks ago. is it any wonder traders take a break during December?

Anyway heres a chart:

Attachment
Hi Smikester, looking at the dollar index chart, how do you see divergence when lower highs on the chart are producing lower highs on your oscillator? Aren't higher highs on the chart supposed to produce lower highs? Or other way for hidden divergence? Just curious that's all, maybe I am missing something.
Come with me if you want to live....
  • #294,594
  • Dec 13, 2011 6:13am Dec 13, 2011 6:13am
We can see on the NFP range on cable that momentum is slowing, and sellers are wiling to enter at lower levels.Cable needs above the 1.5650 area which looks like the pivot. Would expect cable wants to go lower.
Smikester that dollar index looks like it could break higher out of the range, momentum is key, which is what none of the pairs are showing today.
Attached Image (click to enlarge)
Click to Enlarge Name: cable.jpg Size: 144 KB
  • #294,595
  • Dec 13, 2011 6:17am Dec 13, 2011 6:17am
Quoting Flatfish
We can see on the NFP range on cable that momentum is slowing, and sellers are wiling to enter at lower levels.Cable needs above the 1.5650 area which looks like the pivot. Would expect cable wants to go lower.
Smikester that dollar index looks like it could break higher out of the range, momentum is key, which is what none of the pairs are showing today.
Since I now have a bearish biase on cable I must admit those bullish dollar index candles want to bust north.
Come with me if you want to live....
  • #294,596
  • Dec 13, 2011 6:18am Dec 13, 2011 6:18am
Quoting gsantri
'he still here..
.
of course you num nut you every heard of keeping your computer on
  • #294,597
  • Dec 13, 2011 6:26am Dec 13, 2011 6:26am
Quoting Ill-b-back
Hi Smikester, looking at the dollar index chart, how do you see divergence when lower highs on the chart are producing lower highs on your oscillator? Aren't higher highs on the chart supposed to produce lower highs? Or other way for hidden divergence? Just curious that's all, maybe I am missing something.
Yes that is well spotted. Divergence is an inexact science. For me the fact that USDX has been making lower highs is also a factor in this analysis. The third divergence is the clincher for me as it falls away from the trend line. The question is, where to?
Gone to a better place
  • #294,598
  • Dec 13, 2011 6:29am Dec 13, 2011 6:29am
this thing is waiting to bust out, witch way
  • #294,599
  • Dec 13, 2011 6:31am Dec 13, 2011 6:31am
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Gone to a better place
  • #294,600
  • Dec 13, 2011 6:31am Dec 13, 2011 6:31am
Quoting PoundTrader
of course you num nut you every heard of keeping your computer on
why didn't you just turn on the camera as well ?
could be an exciting live entertainment here.. I am willing to pay 5 dollars per view lol...
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