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Cable Update (GBPUSD)

  • #294,861
  • Dec 15, 2011 6:36pm Dec 15, 2011 6:36pm
next target around 1.5554 - 1.5562..
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  • #294,862
  • Dec 15, 2011 6:50pm Dec 15, 2011 6:50pm
Quoting abdul_halim
next target around 1.5554 - 1.5562..
Yes, but TL's hint we could be in for a small reversal first to avoid the double touch. Just a possibility.
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  • #294,863
  • Dec 15, 2011 7:08pm Dec 15, 2011 7:08pm
Much neater. We may not get our drop to 54 as the market is in a constant state of flux as always. Very tired today, need more sleep.
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Click to Enlarge Name: 5590.gif Size: 18 KB
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  • #294,864
  • Dec 15, 2011 7:11pm Dec 15, 2011 7:11pm
Quoting Ill-b-back
Much neater. We may not get our drop to 54 as the market is in a constant state of flux as always. Very tired today, need more sleep.
Asian sell at 5545 to lower trendline
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  • #294,865
  • Dec 15, 2011 7:15pm Dec 15, 2011 7:15pm
Quoting abdul_halim
next target around 1.5554 - 1.5562..
and if price able to pierce that level, pointing up mybe continued to around 1.56xx or higher...Just predict newbie
sorry!my english is very bad
  • #294,866
  • Dec 15, 2011 7:20pm Dec 15, 2011 7:20pm
Quoting Ill-b-back
My 4 hr software indicates an up move but it is a false move on the daily.

Trendlines indicate we could be heading to 5590 but it could take a while.

With respect - I say trend lines and indicators do not mean as much as Price Action......price action is toughing it out here but slowly moving up. That being said I was short last night until midnight.....and then shorted again this morning for a bit - Profit on both trades - but the better trade would have been long from last night at midnight......when you see that the opposite trade that you took would have been more profitable you have to rethink your bias......just my 2 cents.
I don't trust any move - when you have profit...take it.
  • #294,867
  • Dec 15, 2011 7:22pm Dec 15, 2011 7:22pm
Quoting Faller
With respect - I say trend lines and indicators do not mean as much as Price Action......price action is toughing it out here but slowly moving up. That being said I was short last night until midnight.....and then shorted again this morning for a bit - Profit on both trades - but the better trade would have been long from last night at midnight......when you see that the opposite trade that you took would have been more profitable you have to rethink your bias......just my 2 cents.
With close observation, you will notice price action, respects/creates trendlines.
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  • #294,868
  • Dec 15, 2011 7:24pm Dec 15, 2011 7:24pm
Quoting Ill-b-back
With close observation, you will notice price action, respects/creates trendlines.
In either case, we seem to be in agreement with direction. Notice intersection of trendlines near 5590 is in confluence with resistance and 50% fib.
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  • #294,869
  • Dec 15, 2011 7:48pm Dec 15, 2011 7:48pm
Sold 5538, TP 5512 for an Asian scalp
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  • #294,870
  • Dec 15, 2011 7:56pm Dec 15, 2011 7:56pm
out the for the week, be back trading next week.
  • #294,871
  • Dec 15, 2011 7:57pm Dec 15, 2011 7:57pm
i think is PA which build levels.
so better look at PA

i mean: there are sup/dem areas. they will be broken or not depending on PA. price sitting in good demand area will probably breake a supp area.
this is what happened in last hours at 5510-20

imo next area to penetrate is 5545-75 (max extension around 5580)
to do this i think price will need to sit again near 5510.

my plan is to search short setup near 5570
then search long setup near 5510

imo only loosing 5500 and 5490 DP will open for more down actually.....
90% of traders use TA, indicators and prediction
  • #294,872
  • Dec 15, 2011 8:33pm Dec 15, 2011 8:33pm
adjusting TP 5519
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  • #294,873
  • Dec 15, 2011 10:32pm Dec 15, 2011 10:32pm
Quoting Ill-b-back
adjusting TP 5519
Hmmm, looking at a long opportunity from 55-5510 up to 5580. On phone sorry no chart
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  • #294,874
  • Dec 16, 2011 1:17am Dec 16, 2011 1:17am
Think this is going to be a USD day accross the board. This one is getting ready to tank, if not now then US session
  • #294,875
  • Dec 16, 2011 1:25am Dec 16, 2011 1:25am
hi,im new here..
any suggestions?
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  • #294,876
  • Dec 16, 2011 1:40am Dec 16, 2011 1:40am
to the lower red trendline
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Click to Enlarge Name: 5590.gif Size: 24 KB
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  • #294,877
  • Dec 16, 2011 1:52am Dec 16, 2011 1:52am
Quoting Mamamia
hi,im new here..
any suggestions?
Looks like you're calling for batman. Very nice observation and drawing.
  • #294,878
  • Dec 16, 2011 1:53am Dec 16, 2011 1:53am
Quoting Ill-b-back
to the lower red trendline
Target 5490, where I will be looking at price action for a buy off the 50% retrace and lower trendline point targetting 5585
Attached Image (click to enlarge)
Click to Enlarge Name: 5590.gif Size: 22 KB
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  • #294,879
  • Dec 16, 2011 2:02am Dec 16, 2011 2:02am
agree it should reach Fib 38% zone.
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  • #294,880
  • Dec 16, 2011 2:04am Dec 16, 2011 2:04am
Quoting Faller
With respect - I say trend lines and indicators do not mean as much as Price Action......price action is toughing it out here but slowly moving up. That being said I was short last night until midnight.....and then shorted again this morning for a bit - Profit on both trades - but the better trade would have been long from last night at midnight......when you see that the opposite trade that you took would have been more profitable you have to rethink your bias......just my 2 cents.

hi faller welcome back.
i thought you left this thread..... tonight was 'half sleep mode' instead of quoting your post, i went in direct reply.
hope to see your study soon!
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