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Cable Update (GBPUSD)

  • #301,841
  • Feb 28, 2012 11:20pm Feb 28, 2012 11:20pm
See u later guys.
If skills could be acquired by watching, every dog would be a butcher. Turk
  • #301,842
  • Feb 29, 2012 12:16am Feb 29, 2012 12:16am
I see two lines of short-term support where bulls could step in.

1.5901
1.5875

As BB_King pointed out, it is end of month and a heavy news day, so expect plenty of whipsaw!
  • #301,843
  • Feb 29, 2012 12:26am Feb 29, 2012 12:26am
Quoting UbuFamily
Yes we both same on this one...all the best bro! TP 5910 SL 5950
Attachment

I closed 5920...taking 7 pip only...I can't read clear pair now
I trade to live
  • #301,844
  • Feb 29, 2012 12:37am Feb 29, 2012 12:37am
That's true, let's wait for LTRO and then we will see if anything is going to change
  • #301,845
  • Feb 29, 2012 12:47am Feb 29, 2012 12:47am
Quoting bbakker
I see two lines of short-term support where bulls could step in.

1.5901
1.5875

As BB_King pointed out, it is end of month and a heavy news day, so expect plenty of whipsaw!

u gotta love long term charting
  • #301,846
  • Feb 29, 2012 12:53am Feb 29, 2012 12:53am
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I trade to live
  • #301,847
  • Edited 1:23am Feb 29, 2012 12:54am | Edited 1:23am
G/M

A Bullish engulfing thrust of Monday's Dark Cloud cover thrust yesterday on the daily and an upside breech of the 4hr/daily descending trend line and close above. Some upside follow thru this morning to break the recent 5927-5643 daily range to the upside. 5937 the current hi, this after price pulled back from that 5898 last week's hi to the previous 4hr swing hi zone (previous resistance) yesterday and a strong move up from it.)

To the immediate upside:

5930-37 prev minor 1hr sw hi zone
5938 Daily R1 @/around
5946 76.4% 6165-5234
5961/62 Monthly R1 @/around / Weekly R1 @/around
5966 85.4% 6091-5234
5976 Daily R2 @/around
5986/89 2 x fibs incl 50% 6746-5234
5999 85.4% 6130-5234
6005-15 descending Weekly /Monthly t/line coming thru on Wed's daily candle
6030 85.4% 6165-5234
6045 Daily R3 @/around
6055 Weekly R2 @/around
6073-92 incl 6087 = 61.8% 6617-5234
6103-15-30 prev Dly/4hr sw hi zone incl 6125 = Weekly R3 @/around
6136-65 prev Wkly/Dly sw hi zone incl 6158 = Monthly R2 @/around and 6163 = 76.4% 6454-5234
6167 61.8% 6746-5234

Uk data @ 0930am gmt and Inflation report heareins in parliament from 0945.

G/L
　
　
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ex member
  • #301,848
  • Feb 29, 2012 1:09am Feb 29, 2012 1:09am
it will take a lot to stop this i feel..plenty of signs of strength..just take inside dailly bar..broke to downside first was unable to follow through leading to break of topside..1.59 should be tough as nails..

weekly pin has triggered above a trendline formed from height of weekly pin..bullish ..following into the monthly..

it will need hancock to stop meh

jus kidding

(potential inverse shampoo in play)
  • #301,849
  • Feb 29, 2012 1:13am Feb 29, 2012 1:13am
We usually get a wild ride on days like this. (Treasury Select Comittee hearing 09:45 am GMT). So those with over leveraged small accounts or not already in longer term trades better be careful.

Attached Image


If you have a small account, over leverage it to the max, and I guarantee by New York close you will either be broke or slightly better off...
Gone to a better place
  • #301,850
  • Feb 29, 2012 1:17am Feb 29, 2012 1:17am
Hi Nav

you could be right. Inbetween the current 5937 hi and those next previous swing hi's on this Daily t/f are just fibs and pivots and of course the descending weekly trend line (gren dotted.)

G/L

Quoting nAVIN2007
it will take a lot to stop this i feel..plenty of signs of strength..just take inside dailly bar..broke to downside first was unable to follow through leading to break of topside..1.59 should be tough as nails..

weekly pin has triggered above a trendline formed from height of weekly pin..bullish ..following into the monthly..

it will need hancock to stop meh

jus kidding

(potential inverse shampoo in play)
Attached Image (click to enlarge)
Click to Enlarge Name: z.jpg Size: 120 KB
ex member
  • #301,851
  • Feb 29, 2012 1:19am Feb 29, 2012 1:19am
Quoting nAVIN2007
it will take a lot to stop this i feel.
We are now trading at the monthly high of a ranging month. If we break 1.5828 we are off.

USD/CAD has been ranging for a month at a range of 150 pips. Unbelievable. Somethings going to POP!
Gone to a better place
  • #301,852
  • Feb 29, 2012 1:22am Feb 29, 2012 1:22am
Quoting nAVIN2007
it will take a lot to stop this i feel..plenty of signs of strength..just take inside dailly bar..broke to downside first was unable to follow through leading to break of topside..1.59 should be tough as nails..

weekly pin has triggered above a trendline formed from height of weekly pin..bullish ..following into the monthly..

it will need hancock to stop meh

jus kidding
Those lines of support were based on my h1 chart... just for clarification to others.

I saw this muppet have a go at you recently calling you GOD. I must say, very flattering... lol

Good to see a senior member suspend the idiot. Usually it is the ones that spit out their dummies that can't trade for shit. I suggest people read FF's Rule 1 - Respect Thy Fellow Trader as a gentle reminder.

I was honoured to find that Fudomyo vouched for me this morning. I have a lot of respect for him. I suggest to you newbies that if you are going to follow anyone, you should follow him, read, learn and understand his charts.

Got to go... speak to you later.
  • #301,853
  • Feb 29, 2012 1:24am Feb 29, 2012 1:24am
Quoting smikester
We usually get a wild ride on days like this. (Treasury Select Comittee hearing 09:45 am GMT). So those with over leveraged small accounts or not already in longer term trades better be careful.

Attachment

If you have a small account, over leverage it to the max, and I guarantee by New York close you will either be broke or slightly better off...
I think the majority will be broke, because they will have over-leveraged as they think Forex is the road to riches and they can make easy money. Yeah man, Forex is easy... not!
  • #301,854
  • Feb 29, 2012 1:30am Feb 29, 2012 1:30am
so far this month - on this last day of the month - on this gbpusd pairing we have onlly travelled 45% of the 20 month atr. This week so far 49% of 20 week atr and so far today 35% of 20 day atr.

G/L

Quoting smikester
We are now trading at the monthly high of a ranging month. If we break 1.5828 we are off.

USD/CAD has been ranging for a month at a range of 150 pips. Unbelievable. Somethings going to POP!
ex member
  • #301,855
  • Feb 29, 2012 1:30am Feb 29, 2012 1:30am
Quoting bbakker
Those lines of support were based on my h1 chart... just for clarification to others.

I saw this muppet have a go at you recently calling you GOD. I must say, very flattering... lol

Good to see a senior member suspend the idiot. Usually it is the ones that spit out their dummies that can't trade for shit. I suggest people read FF's Rule 1 - Respect Thy Fellow Trader as a gentle reminder.

I was honoured to find that Fudomyo vouched for me this morning. I have a lot of respect for him. I suggest to you newbies that if you are going to follow...
yes this thread is blessed with great traders!!..and u are one of them brian, u really are..its great to have seen u grow in this.
There some things in life which cant be bought ..and that a good hand of people having yur back!!

I was wondering and am flattered someone kicked him..bless him..quite why he got upset is beyond me
  • #301,856
  • Feb 29, 2012 1:32am Feb 29, 2012 1:32am
Quoting smikester
We are now trading at the monthly high of a ranging month. If we break 1.5828 we are off.

USD/CAD has been ranging for a month at a range of 150 pips. Unbelievable. Somethings going to POP!

i will post a series of chart plz bear with me..

usdlfx bearish
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  • #301,857
  • Feb 29, 2012 1:32am Feb 29, 2012 1:32am
Wave 4 of 3 in a expanding triangle on the former resistance line. Entire wave in a channel (as it appears). Needs wave 4 to retrace to current resistance to confirm new support.

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  • #301,858
  • Edited 2:01am Feb 29, 2012 1:33am | Edited 2:01am
Quoting UbuFamily
I closed 5920...taking 7 pip only...I can't read clear pair now
Hint...
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Click to Enlarge Name: 2012-02-29_Cable H1 Chart + Fibo.jpg Size: 239 KB
Click to Enlarge Name: 2012-02-29_Cable H1 Chart + Fibonacci.jpg Size: 204 KB
Always looking the GREAT, never left GOOD Point...
  • #301,859
  • Feb 29, 2012 1:36am Feb 29, 2012 1:36am
Quoting smikester
We usually get a wild ride on days like this. (Treasury Select Comittee hearing 09:45 am GMT). So those with over leveraged small accounts or not already in longer term trades better be careful.

Attachment

If you have a small account, over leverage it to the max, and I guarantee by New York close you will either be broke or slightly better off...

u scared me bro....can u explain why do u think so? Thanks
I trade to live
  • #301,860
  • Feb 29, 2012 1:53am Feb 29, 2012 1:53am
Quoting Tsar
Hint...
thanks for the yellow trend line
I trade to live
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