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Cable Update (GBPUSD)

  • #295,521
  • Dec 23, 2011 6:19pm Dec 23, 2011 6:19pm
As anticipated...........im still holding shorts till the rbs is retested...........
  • #295,522
  • Dec 23, 2011 6:28pm Dec 23, 2011 6:28pm
Quoting shripsfx
weekly chart shows this pair has had 3 attempts in the last 4 weeks to trade higher above 1.5770 but was rejected each time.
Yes good point and watching Trend lines carefully. These are my thoughts. We attacked 54 with more momentum than at anytime since the GFC, but still failed to break. There is also some fresh short term hope coming out of Financial Europe (don't get me wrong, there is a lot of pain ahead and I feel another crash is looming very soon), but bulls love rumours. The rush up was strong and fast, so just looking at a very good risk/reward trade. I will be shorting with 2 trades at any short term fib retrace to my entry, where I will close out 1 trade. Then, if my main thick lines do not look like holding, I will let the 2nd short run and close my long.
Come with me if you want to live....
  • #295,523
  • Dec 23, 2011 6:29pm Dec 23, 2011 6:29pm
Quoting sreeni02
As anticipated...........im still holding shorts till the rbs is retested...........
rbs?
Come with me if you want to live....
  • #295,524
  • Dec 23, 2011 6:37pm Dec 23, 2011 6:37pm
rbs = resistance broken become support..........exactly at 5550 level.........

also if anyone is watching the harmonic patterns........ http://imageshack.us/photo/my-images/703/gudaily.gif/
  • #295,525
  • Dec 23, 2011 6:44pm Dec 23, 2011 6:44pm
Quoting sreeni02
rbs = resistance broken become support..........exactly at 5550 level.........

also if anyone is watching the harmonic patterns........ http://imageshack.us/photo/my-images/703/gudaily.gif/
Right thx
Come with me if you want to live....
  • #295,526
  • Dec 23, 2011 6:48pm Dec 23, 2011 6:48pm
Also watch it for if it fails to break the 5550 at the first attemp, is next to your 38.2 fibo area of interest as it was also not retested during yesterdays session.......ie sbr - support broken become resistance.......

Validity of this sbr and rbs is - every point of break must be retested to ensure it holds prior to and continuation of movements....

Just a small fraction of what i know in forex to the rest who is following this thread.........merry xmas and hepi new year in advance.........
  • #295,527
  • Dec 23, 2011 7:04pm Dec 23, 2011 7:04pm
Quoting sreeni02
Also watch it for if it fails to break the 5550 at the first attemp, is next to your 38.2 fibo area of interest as it was also not retested during yesterdays session.......ie sbr - support broken become resistance.......

Validity of this sbr and rbs is - every point of break must be retested to ensure it holds prior to and continuation of movements....

Just a small fraction of what i know in forex to the rest who is following this thread.........merry xmas and hepi new year in advance.........
Yes for sure, I am only interested in a short if support has not been retested. Hoping Asia will kick in with some effort to line up my short early as it has been a very lazy and boring session lately.
Come with me if you want to live....
  • #295,528
  • Dec 23, 2011 7:10pm Dec 23, 2011 7:10pm
Final post before Xmas. Just clarifying, a touch on lower plum TL will not constitute a retest of support unless it happens at the 61.8 retrace.
Come with me if you want to live....
  • #295,529
  • Dec 23, 2011 7:12pm Dec 23, 2011 7:12pm
indeed it was a very slow n boring session despite the good news in us in forexfactory.........im almost waiting for about 1 week now for the aud/nzd and also usd/cad to come n play the tune i want..........and the reason i trade usd/cad alongside cable is because they are the mirror pair........
  • #295,530
  • Dec 23, 2011 7:56pm Dec 23, 2011 7:56pm
Speculative Investors Still Betting Big On Euro's Fall

CFTC report Dec.23, 2011.
.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: eu-cot-1224.png Size: 31 KB
Click to Enlarge Name: dx-cot-1224.png Size: 30 KB
  • #295,531
  • Dec 23, 2011 11:08pm Dec 23, 2011 11:08pm
Quoting PoundTrader
im short at 1.5660 and 1.5696, s/l 1.5822, t/p 1.5603


shes looking like she wanna shoot for the moon taking my stop loss with her with her
took awhile but it got there
  • #295,532
  • Dec 24, 2011 12:13am Dec 24, 2011 12:13am
Morning , happy X- mas & holiday to all . just open chart to see what happened & what not due this season .
possible sr around the level & pa.
Gator's mofu around 50% fib likely next , 5th extension to down to tl& even break down before the real reversal attempt. Note Monthly QQE remain sharply cross 50% & weekly also ,not any silly thing to ignore with any other tf activities & now all others also in favour , for immediate action ,M5 head down , H1 already in action , H4 sharply poised break 50% .last 1 month played up of it & next month if down it possibel then!!! tit for tat welcome . if take hs for this revenge then 850 pips below 5430 possible .

next limit level 5556.waves , channel , sr , pa action all in favbour of bear movement & escaped my sky falling due season last day and my feeling mofu rather direct down next coming .
fontu
Attached Image (click to enlarge)
Click to Enlarge Name: usd1.gif Size: 15 KB
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #295,533
  • Dec 24, 2011 1:01am Dec 24, 2011 1:01am
Quoting PoundTrader
took awhile but it got there
Well done, wish I'd had the same patience
Come with me if you want to live....
  • #295,534
  • Dec 24, 2011 1:28am Dec 24, 2011 1:28am
Quoting PoundTrader
took awhile but it got there
yeah well done apparently risky & with possible /unusual though drawdown & likely in gu anytime if act earlier but the basic clear then not worry about & only patience pay off at last . doing opposite the basic movements may get great but engage in greater for next to loss greatest non-clearing far next time also .Patience & flexibility pay mostly.
fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #295,535
  • Dec 24, 2011 1:41am Dec 24, 2011 1:41am
im a swing trader so i can hold my trades from 1 day to 4 days never over 4 days.
  • #295,536
  • Dec 24, 2011 1:49am Dec 24, 2011 1:49am
Quoting PoundTrader
im a swing trader so i can hold my trades from 1 day to 4 days never over 4 days.
Ok , so next week or so can be interesting if any movement year end or early january with bigger ranging as seeing again gold to break the tl .
fontu
Attached Image (click to enlarge)
Click to Enlarge Name: usd3.gif Size: 11 KB
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #295,537
  • Dec 24, 2011 1:52am Dec 24, 2011 1:52am
Quoting PoundTrader
took awhile but it got there
Well done, wish I'd had the same patience
Come with me if you want to live....
  • #295,538
  • Dec 24, 2011 2:03am Dec 24, 2011 2:03am
Quoting fontu
Ok , so next week or so can be interesting if any movement year end or early january with bigger ranging as seeing again gold to break the tl .
fontu
so far i got sunday / monday going up, before any drop.
  • #295,539
  • Dec 24, 2011 2:06am Dec 24, 2011 2:06am
it's 3am here got get some rest, night
  • #295,540
  • Dec 24, 2011 3:01am Dec 24, 2011 3:01am
Quoting PoundTrader
so far i got sunday / monday going up, before any drop.
May be think not any great , the down not over yet , even in smaller waves & just started the breakdown santa's action last !!swing should continue down.not see any few hundreds pips up another so soon.
lets see , have a good rest .
fontu
Attached Image (click to enlarge)
Click to Enlarge Name: usd4.gif Size: 9 KB
Not understand?better not follow my analyses!doubt clearer first, risks ++
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