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Cable Update (GBPUSD)

  • #302,161
  • Mar 2, 2012 3:36am Mar 2, 2012 3:36am
G/M

Another bullish candle on Cable Daily t/f yesterday whilst Eurusd mildly bearish and both have seem some downside today so far.

To the immediate upside per near-term current 1hr screenshot below. To the immediate downside below the current daily lo as under:
5908 Daily S1 @/around

5905-5895 prev 4hr/1hr sw hi/lo zone incl 5895 = 50% 5798-5991
5793-85 prev minor 1hr sw hi zone incl 5887-38,2% 5720-5991
5874-5870 prev minor 1hr sw lo zone incl 5872 = 2 x fibs incl 38.2% 5681-5991
5870-63 prev 1hr sw hi zone incl 5862 = Daily S1 @/around
5861-54 prev 1hr sw hi zone incl 5859 = 38.2% 5637-5991 and 5855 = 50% 5720-5991
5844 76.4% 5798-5991
5829 Daily S3 @/around
5826/23 2 x fibs
5820-5798 prev Daily/4hr/1hr sw lo zone and prev 4hr sw hi zone incl 5819=50% 5637-5991, 5812 = 23.6% 5234-5991, 5805 = Weekly Pivot @/around, and 5799=61.8% 5681-5991

5784 76.4% 5720-5991
5760 85.4% 5720-5991
5754 76.4% 5681-5991
5779 61.8% 5637-5991

G/L
　
　
　
　
Attached Image (click to enlarge)
Click to Enlarge Name: z.jpg Size: 88 KB
ex member
  • #302,162
  • Edited 4:13am Mar 2, 2012 3:55am | Edited 4:13am
Cable in H4 Chart...

Cable touch Price @ 1.5905 for Lower.
I found Bearish Engulfing Formation in H4 Chart, potential go Down to 1.5876 :nerd:
Attached Image (click to enlarge)
Click to Enlarge Name: 2012-03-02_Cable in H4 Chart.jpg Size: 294 KB
Always looking the GREAT, never left GOOD Point...
  • #302,163
  • Mar 2, 2012 3:55am Mar 2, 2012 3:55am
I think I in love with scalping mode

It makes me smile rather than holding long term order
I trade to live
  • #302,164
  • Mar 2, 2012 3:56am Mar 2, 2012 3:56am
Quoting Tsar
Cable in H4 Chart...

Cable touch Price @ 1.5905 for Lower.
I found Bearish Engulfing Formation in H4 Chart, potential go Down to 1.5876 :nerd:

same here
I trade to live
  • #302,165
  • Mar 2, 2012 4:09am Mar 2, 2012 4:09am
Price touched top of that previous daily/4hr/1hr swing lo zone around the ascending 4hr/daily t/line . It runs down to 5895, and the low is @/around Daily S1...there was a clasic pattern of regular bullish div on 5min and the Uk construction pmi # probably helped.

4hr is below

G/L
Attached Image (click to enlarge)
Click to Enlarge Name: z.jpg Size: 87 KB
ex member
  • #302,166
  • Mar 2, 2012 4:19am Mar 2, 2012 4:19am
Quoting bbmac
Price touched top of that previous daily/4hr/1hr swing lo zone around the ascending 4hr/daily t/line . It runs down to 5895, and the low is @/around Daily S1...there was a clasic pattern of regular bullish div on 5min and the Uk construction pmi # probably helped.

4hr is below

G/L
i think shorts will be hammered when ny opens
  • #302,167
  • Mar 2, 2012 4:31am Mar 2, 2012 4:31am
Quoting Tsar
Cable in H4 Chart...

Cable touch Price @ 1.5905 for Lower.
I found Bearish Engulfing Formation in H4 Chart, potential go Down to 1.5876 :nerd:
My view regarding this pair based on price action could go like this :
Since it didn't break support level of 5900, I expect it to go up to 6100-ish before going down lower pass 5900. 5900 is currently a strong support, even if this pair breaks it, there will be reasonable buyers to raise it higher and eventually this guy will still go up there. I don't have any chart to back this up because there's no relevant Price Action for me now (My 4 hours is consolidating like hell and daily also very thin which convinced me something will happen and I just hope that it happens soon ) so you can just consider this a wild speculation just for killing some time .

NB : 6100-ish is my next minor resistance level. I still don't know if some bullish breakout can happen on that level but I'm sure that we will see some good Price Action
  • #302,168
  • Mar 2, 2012 4:39am Mar 2, 2012 4:39am
In respect of OPA (overall price action) Daily has retreated from a 5991 Hi following a breakout of the recent 5927-5643 range on that t/f although has found some support at top of that range. 4hr is still in a 'general uptrend' although has printed a LH now and 1hr is in some range consolidation betwwen 5991-5895.

Intraday remain bearish-mixed.

Where will price go next - no idea !

G/L
ex member
  • #302,169
  • Mar 2, 2012 4:41am Mar 2, 2012 4:41am
Quoting uzmashahid15
i think shorts will be hammered when ny opens

Can you elaborate as to why shorts will get hammered?

Thank you in advance for your more technical analysis.

Cheers,

Faller.
I don't trust any move - when you have profit...take it.
  • #302,170
  • Mar 2, 2012 4:53am Mar 2, 2012 4:53am
Quoting uzmashahid15
i think shorts will be hammered when ny opens


Thanks for your post - I have now added you to my list of contrarians - and if you don't know what that word means.......simply put. Do the opposite of whatever they say - currently up 22 pips on my short since I read your post. I will close my short when you say it is time to go short! Thanks again!

Enjoy your day - still waiting for your technical analysis though......would be interesting to read I am sure!

Cheers,

Faller.
I don't trust any move - when you have profit...take it.
  • #302,171
  • Edited 5:39am Mar 2, 2012 5:09am | Edited 5:39am
Quoting 0rPhioZ
My view regarding this pair based on price action could go like this :
Since it didn't break support level of 5900, I expect it to go up to 6100-ish before going down lower pass 5900. 5900 is currently a strong support, even if this pair breaks it, there will be reasonable buyers to raise it higher and eventually this guy will still go up there. I don't have any chart to back this up because there's no relevant Price Action for me now (My 4 hours is consolidating like hell and daily also very thin which convinced me something will happen and I just...
The basis of the Price Action (PA) is Supply and Demand.
And it is known from the Candle was formed, also need to know where is Support and Resistance.
If you used PA Guidelines, you will encounter many obstacles in Trade.
I also follow redsword11 thread's, learn about His work. It is similar to a guideline that I follow.
You need to know I learned PA in 3 days only, because I already have a solid Foundation.

Many Traders errors in thinking that the Market would do such a desire, so... 80% Traders Losses, 15% Traders don't get anything and 5% Traders Winner. It's existing Statistics !

The Market not following you. But you're a small part of the Market... I have experienced it.
My way of thinking follow the Market want and make Calculations prior to entry into the Market.
It will be survive in the Trade.

Use H4 and Daily for Reference Trend only. Weekly sometimes.
I'm Scalper and Short Term Trader only. Never touch again Long Term after I made BIG Losses...
Attached Image (click to enlarge)
Click to Enlarge Name: 2012-03-02_Cable H1 and PA.jpg Size: 416 KB
Always looking the GREAT, never left GOOD Point...
  • #302,172
  • Mar 2, 2012 5:20am Mar 2, 2012 5:20am
Tsar, Is that signal bar on your chart working for you?
  • #302,173
  • Mar 2, 2012 5:35am Mar 2, 2012 5:35am
if any body can help pls let us know

http://www.forexfactory.com/showthread.php?t=345614
Trade responsiblypatience is the key/Swing trader
  • #302,174
  • Mar 2, 2012 5:47am Mar 2, 2012 5:47am
Quoting anthonio
Tsar, Is that signal bar on your chart working for you?
Worked, always follow Candle move for calculation in %

I'm really so Sorry can't Share... b'cause Commercial Indie.
But you have another in Attachment (almost same)
Attached File(s)
File Type: ex4 Signal Bars (AAD Mods).ex4   50 KB | 284 downloads
Always looking the GREAT, never left GOOD Point...
  • #302,175
  • Mar 2, 2012 5:48am Mar 2, 2012 5:48am
I thought 3 days ago, cable still strong build three nice swing consecutive in weekly TF. But! I think there is some politics inside this show.

Forecast:

If this last swing remain at the end of weekly candle there is posibility to make another high later,.
Of course if not ,will be trade cable in downtrend next.

In meanwhile scalps still permit.


Nice week end guys.
Attached Image (click to enlarge)
Click to Enlarge Name: cable9.gif Size: 25 KB
If skills could be acquired by watching, every dog would be a butcher. Turk
  • #302,176
  • Mar 2, 2012 5:50am Mar 2, 2012 5:50am
Looks like 1.5928 isn't going to hold as support today. Lets see if the 1.59 does.
Gone to a better place
  • #302,177
  • Mar 2, 2012 6:01am Mar 2, 2012 6:01am
Quoting uzmashahid15
i think shorts will be hammered when ny opens

Can't thank you enough mate.....you made the end of my week!!!!!!!!!!!

Going to add you to my watch list so that I can follow all of your trade calls!!!!!!

Thank you so much for your money!

Cheers,

Faller.
I don't trust any move - when you have profit...take it.
  • #302,178
  • Mar 2, 2012 6:05am Mar 2, 2012 6:05am
Currently short @ 5926.

A clean break below 5875 and south she goes...
Attached Image (click to enlarge)
Click to Enlarge Name: sho0rt.jpg Size: 124 KB
  • #302,179
  • Mar 2, 2012 6:05am Mar 2, 2012 6:05am
Quoting smikester
Looks like 1.5928 isn't going to hold as support today. Lets see if the 1.59 does.
Bro... your Last Option !!
Found BULLISH Pattern in H4 Chart
Attached Image (click to enlarge)
Click to Enlarge Name: 2012-03-02_Cable in H4 Bullish Pattern.jpg Size: 456 KB
Always looking the GREAT, never left GOOD Point...
  • #302,180
  • Mar 2, 2012 6:10am Mar 2, 2012 6:10am
58 would be a good target.
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