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Cable Update (GBPUSD)

  • #294,741
  • Dec 14, 2011 2:09pm Dec 14, 2011 2:09pm
Quoting PoundTrader
not yet, take a 2nd look, short till thursday close then buy for 60 pips at close and call it a week.
Bang on great system you have
Come with me if you want to live....
  • #294,742
  • Dec 14, 2011 2:20pm Dec 14, 2011 2:20pm
Quoting PoundTrader
not yet, take a 2nd look, short till thursday close then buy for 60 pips at close and call it a week.
if you think it gonna be down, is there any retrace more than (5490)??
  • #294,743
  • Dec 14, 2011 2:38pm Dec 14, 2011 2:38pm
3 shorts in play from 5520 area, closing 2 at 5370, holding 3rd until 42 area. I think we are winding up to break the mother of all trendlines and complete weekly and monthly head and shoulders.
Come with me if you want to live....
  • #294,744
  • Dec 14, 2011 2:45pm Dec 14, 2011 2:45pm
Quoting Ill-b-back
Bang on great system you have
( Bang ) damn don't shoot me, im just a trader like you, good job just kidding
  • #294,745
  • Dec 14, 2011 2:49pm Dec 14, 2011 2:49pm
Quoting PoundTrader
( Bang ) damn don't shoot me, im just a trader like you, good job just kidding
The only reason I would shoot you dude is to raid your brokerage account when all this financial mess is over. Here's to tomorrow
Come with me if you want to live....
  • #294,746
  • Dec 14, 2011 2:51pm Dec 14, 2011 2:51pm
So much for the Xmas rally.
Come with me if you want to live....
  • #294,747
  • Dec 14, 2011 2:53pm Dec 14, 2011 2:53pm
Quoting PoundTrader
not yet, take a 2nd look, short till thursday close then buy for 60 pips at close and call it a week.
You have a great eye for the maket Pound Trader.
Come with me if you want to live....
  • #294,748
  • Dec 14, 2011 3:27pm Dec 14, 2011 3:27pm
Quoting Ill-b-back
The only reason I would shoot you dude is to raid your brokerage account when all this financial mess is over. Here's to tomorrow
  • #294,749
  • Dec 14, 2011 4:23pm Dec 14, 2011 4:23pm
Quoting Ill-b-back
3 shorts in play from 5520 area, closing 2 at 5370, holding 3rd until 42 area. I think we are winding up to break the mother of all trendlines and complete weekly and monthly head and shoulders.
90% of traders use TA, indicators and prediction
  • #294,750
  • Dec 14, 2011 4:44pm Dec 14, 2011 4:44pm
Quoting _BBKing_
daily say possible beginning of double bottom in 54.
second touch today with a weaker (than previous) closing 5465

huge taking profits here today which would explain the fast up-move to 5490 23% retrace from 5780 high.

a reversal pattern here in h1-h4 chart, and time to target some FE area imo.

for what you mean about weekly and monthly we need this weekly candle closing below 5350 at least.... kind of hard work!
who knows?! pressure still strong and euro lost 1.30 so could open for more buy interest in dollars so trail gu down.

tomorrow i expect big fight
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gu.gif Size: 21 KB
Click to Enlarge Name: gu2.gif Size: 21 KB
90% of traders use TA, indicators and prediction
  • #294,751
  • Dec 14, 2011 5:08pm Dec 14, 2011 5:08pm
i must say that h4 setup is not for longs.
excluding a possible pullback-move to 5540-5580 range.

if happens within this daily candle, will be a good shorting place:
price will find a very steep median bollinger band and then the ema60.
its also the double top neckline area.

near 5520-30 there is h1 channel + yesterday high.
Attached Image (click to enlarge)
Click to Enlarge Name: gu.gif Size: 28 KB
90% of traders use TA, indicators and prediction
  • #294,752
  • Dec 14, 2011 5:22pm Dec 14, 2011 5:22pm
ok ok last post i promise

hourly channel mentioned above....

price need anyway to clearly breake this before any further uptrend and validate a possible double bottom in daily chart.

ok posted my complete study.
hopefully some one will find it helpful and/or some other will correct me if im wrong
Attached Image (click to enlarge)
Click to Enlarge Name: gu.gif Size: 21 KB
90% of traders use TA, indicators and prediction
  • #294,753
  • Dec 14, 2011 7:01pm Dec 14, 2011 7:01pm
Quoting _BBKing_
Hi BB King, yes we need to close weekly below 5520 or so before higher timeframe head n shoulders plays out, this is what I meant when projecting 1.42. personally, I think your own charts above tell the story. I see greater acceleration into 54 resistance characterized by ever steeper trendline evolution. All MACDS from monthly down I think even the 1 hr are heading south. We are accelerating with lower highs and lower lows. No significant bullish divergence to speak of which i would expect off the psych 54 level. As you said, taking profits but no real buying action that i can ser. Just my observations.
Come with me if you want to live....
  • #294,754
  • Dec 14, 2011 7:35pm Dec 14, 2011 7:35pm
Those last 5 weekly candles are a classic bearish set up. I don't see anything stopping price reaching your last weekly trend/resistance line. Once that line goes, we are in for a big drop I feel.
Come with me if you want to live....
  • #294,755
  • Dec 14, 2011 7:51pm Dec 14, 2011 7:51pm
It appears I am living among ghosts, (everyone is "invisible")
Come with me if you want to live....
  • #294,756
  • Dec 14, 2011 9:21pm Dec 14, 2011 9:21pm
Quoting Ill-b-back
It appears I am living among ghosts, (everyone is "invisible")
  • #294,757
  • Dec 14, 2011 9:42pm Dec 14, 2011 9:42pm
still a strong chance we could see 1.5340 on thursday
  • #294,758
  • Dec 14, 2011 9:57pm Dec 14, 2011 9:57pm
Quoting Ill-b-back
You have a great eye for the maket Pound Trader.
thanks been doing this since 2003, took s long time to get it right lot of stress been lots of times when i was gonna give up trading forex because in the beginning i was losing so much money stuck wit it and now i make a living from trading
  • #294,759
  • Dec 14, 2011 10:11pm Dec 14, 2011 10:11pm
My system shows a clean bear attack in 3-4 hours with no prior retrace. Hop in or miss out.
Come with me if you want to live....
  • #294,760
  • Dec 14, 2011 10:15pm Dec 14, 2011 10:15pm
Quoting PoundTrader
thanks been doing this since 2003, took s long time to get it right lot of stress been lots of times when i was gonna give up trading forex because in the beginning i was losing so much money stuck wit it and now i make a living from trading
Me too, nearly quite 6-7 times at the very least, but could not let go. My wife hates it but I cannot help it. Bought so many systems and tried so many indis. I have sifted the gold from the trash so has been worth the time and money. I still work but loving this game. I massage lots of lovely people so having lots of fun
Come with me if you want to live....
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