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Cable Update (GBPUSD)

  • #294,701
  • Dec 14, 2011 4:39am Dec 14, 2011 4:39am
Guys we just had a bear candle yesterday with very little lower tail. It ended at the intersection of 3 trendlines. Spike up is a 50 percent technical retrace IMO nothing more.
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  • #294,702
  • Dec 14, 2011 4:47am Dec 14, 2011 4:47am
I know not many of the big hitters here use indicators much but when I see a descending channel within a descending channel and all major timeframe MACDs heading south, I pay attention. Personally I don't feel 5320 with withstand another assault. It is my first target.
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  • #294,703
  • Dec 14, 2011 4:52am Dec 14, 2011 4:52am
Check out the hidden bearish divergence on the 15 min RSI. I only see downside myself.
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  • #294,704
  • Dec 14, 2011 4:56am Dec 14, 2011 4:56am
Quoting Ill-b-back
Check out the hidden bearish divergence on the 15 min RSI. I only see downside myself.
Sorry no charts, shoulder massaging pregnant wife, and texting from phone.
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  • #294,705
  • Dec 14, 2011 5:17am Dec 14, 2011 5:17am
I know we are at resistance but we all know this pattern.
Attached Image (click to enlarge)
Click to Enlarge Name: down down.gif Size: 21 KB
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  • #294,706
  • Dec 14, 2011 6:11am Dec 14, 2011 6:11am
look like its doing the same as yesterday, tease you like it going up then boom the big drop.
  • #294,707
  • Dec 14, 2011 6:17am Dec 14, 2011 6:17am
Quoting PoundTrader
look like its doing the same as yesterday, tease you like it going up then boom the big drop.
I agree, we finally broke out of the range yesterday, what excuse has it to go up against momentum indicators and bearish divergences.
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  • #294,708
  • Dec 14, 2011 6:26am Dec 14, 2011 6:26am
Quoting Ill-b-back
I agree, we finally broke out of the range yesterday, what excuse has it to go up against momentum indicators and bearish divergences.
has it really gone up that much where you can say the uptrend has been confirm, not yet
  • #294,709
  • Dec 14, 2011 6:31am Dec 14, 2011 6:31am
Quoting PoundTrader
has it really gone up that much where you can say the uptrend has been confirm, not yet
Mate it hasnt even gone up 50% of yesterdays candle, no uptrend to speak of, not exactly rising like a fart in an elevator.
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  • #294,710
  • Dec 14, 2011 6:34am Dec 14, 2011 6:34am
distribution?

actually if goes soon near 5540 better short.
Attached Image (click to enlarge)
Click to Enlarge Name: gu.gif Size: 17 KB
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  • #294,711
  • Dec 14, 2011 6:35am Dec 14, 2011 6:35am
It's flirting with the 61.8 retrace of the Frankie move which only reached the 30min 55 ema. No bullish divergences to speak of at all on any timeframe. Broke an important 4 hour trendline yesterday. It all says down to me.
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  • #294,712
  • Dec 14, 2011 6:40am Dec 14, 2011 6:40am
Quoting _BBKing_
distribution?

actually if goes soon near 5540 better short.
Im not too sure it will get up there again, but you never know.
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Click to Enlarge Name: down down.gif Size: 23 KB
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  • #294,713
  • Dec 14, 2011 6:48am Dec 14, 2011 6:48am
sneaky f....er
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  • #294,714
  • Dec 14, 2011 7:08am Dec 14, 2011 7:08am
Back , correction not more than seen in the morning , not over yet though , breaks 5449 yet , but seems ok & short active taken in the morning , will wait it actually breaks down 5467,5449 for 5423 & lows while au breaks 0.9941 & 21 to get the momentum back . spiking here & there as of it's nature . lets see .
fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #294,715
  • Dec 14, 2011 7:15am Dec 14, 2011 7:15am
Quoting fontu
Back , correction not more than seen in the morning , not over yet though , breaks 5449 yet , but seems ok & short active taken in the morning , will wait it actually breaks down 5467,5449 for 5423 & lows . spiking here & there as of it's nature . lets see .
fontu
Hey Fontu, I got greedy with my 3rd short at the bottom. I guess it was an educated risk but watching very closely. Great work from you from what I have seen so far.
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  • #294,716
  • Dec 14, 2011 7:20am Dec 14, 2011 7:20am
Quoting Ill-b-back
Hey Fontu, I got greedy with my 3rd short at the bottom. I guess it was an educated risk but watching very closely. Great work from you from what I have seen so far.
Thanks , I played this before but that closely now few years back , may have forgotted but got some lesson also , spiky master always try for it at any support got . anyway good movements back here also .
fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #294,717
  • Dec 14, 2011 7:34am Dec 14, 2011 7:34am
buy..
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  • #294,718
  • Dec 14, 2011 8:00am Dec 14, 2011 8:00am
i was looking for 1.5340 today, don't think she going that far, but you never know
  • #294,719
  • Dec 14, 2011 8:36am Dec 14, 2011 8:36am
Quoting PoundTrader
i was looking for 1.5340 today, don't think she going that far, but you never know
we should be hitting 1.5420 before to long
  • #294,720
  • Dec 14, 2011 8:37am Dec 14, 2011 8:37am
Anyone thinking long here?
Gone to a better place
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