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Cable Update (GBPUSD)

  • #305,061
  • Mar 28, 2012 2:47am Mar 28, 2012 2:47am
Bottom of that prev 1hr / 4hr sw hi zone and top of the 4 fib cluster mentioned above is where the current demand on the drop came in.

To the immediate upside per 1hr chart below.

G/L
Attached Image (click to enlarge)
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ex member
  • #305,062
  • Mar 28, 2012 2:50am Mar 28, 2012 2:50am
nice 5min classic bullish div play there.

G/L

Quoting smikester
Lovely bounce off support at 1.5922. Tradeable, but what about news in 40 minutes? There's always something to make things more interesting.
Attached Image (click to enlarge)
Click to Enlarge Name: 0933 5min rev a.jpg Size: 84 KB
ex member
  • #305,063
  • Mar 28, 2012 2:51am Mar 28, 2012 2:51am
Got a bounce off of 61.8 fib on 5 min, and overall daily bias is down. I will be only looking for shorts today. Already have one short open that I plan to hold for 1.5835
  • #305,064
  • Mar 28, 2012 3:01am Mar 28, 2012 3:01am
despite yesterday's inverted hammer candle (bearish body) on daily t/f surely the overall biais on that t/f is up at the moment well certainly until last HL on that t/f gives way to the downside ?

Intraday is mixed at the moment.

------------------

price bounced exactly at 38.2% 5769-6000 other fibs in the 5913-06 4 fib clusre include 23.6% 5634-6000, and 23.6's of 5601 and 5618 to same 6000 .

G/L

Quoting josh1125
Got a bounce off of 61.8 fib on 5 min, and overall daily bias is down. I will be only looking for shorts today. Already have one short open that I plan to hold for 1.5835
Attached Image (click to enlarge)
Click to Enlarge Name: Daily.jpg Size: 81 KB
ex member
  • #305,065
  • Mar 28, 2012 3:09am Mar 28, 2012 3:09am
Your correct there, but I feel like yesterday's false break (which also closed as a bearish candle) of the previous HH shows that for a while today bears may be in control. It will be interesting to see how it plays out. As of right now, my entry was 1.5960, with my stop right above 1.6006. Everything is still intact, as I've got good money management, so I'm planning on letting the pair do whatever it's going to do, and just trade what I see in my setup.
  • #305,066
  • Mar 28, 2012 3:12am Mar 28, 2012 3:12am
Quoting smikester
Lovely bounce off support at 1.5922. Tradeable, but what about news in 40 minutes? There's always something to make things more interesting.
yes great bounce 5913-14! straight 35pips up. looks like there were some 1-2 lots going long in that area . ihihihiihh
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  • #305,067
  • Mar 28, 2012 3:19am Mar 28, 2012 3:19am
Uk data at 0930am bst = gmt +1.

Any downside revision on that -0.2% final 4th qtr gdp # could see knee-jerk £ pressure ? Conversely any upside revision could see knee-jerk £ strength? Current a/c data release too. How lomg these effects may last - time and PA will/may tell us.

G/L
ex member
  • #305,068
  • Mar 28, 2012 3:30am Mar 28, 2012 3:30am
morning guys.

M30 shows a deep fall on GU at the moment.I moved my TP to 5888 first then 5860 area.

I also opened one long on USD CHF @ 0.9018 TP 9080
one long on usd cad @ 0.9918 TP 0.9970
and one short EUR GPB @8385 TP 8355

waiting to cash in some of them today
  • #305,069
  • Mar 28, 2012 3:41am Mar 28, 2012 3:41am
oh sheeples
  • #305,070
  • Mar 28, 2012 3:44am Mar 28, 2012 3:44am
Quoting redbeben
morning guys.

M30 shows a deep fall on GU at the moment.I moved my TP to 5888 first then 5860 area.

I also opened one long on USD CHF @ 0.9018 TP 9080
one long on usd cad @ 0.9918 TP 0.9970
and one short EUR GPB @8385 TP 8355

waiting to cash in some of them today

update
covered 1/3 of GU @ 80 pips profit left the rest to run down to 5888-5875(here I have doubts if to trail it or close and load longs as the down move could be very strong as it looks on the charts...)

closed already USD cad as I chickened out 10 pips ahead of the TP so I got out with 42 pips

now I wonder....5886-5888 wich is 50% fibo and flat line and kumo....will it hold or not.if it won't hold 5875 should hold...if not then we see 5820-30 area

I think I will trail and OCO with longs
  • #305,071
  • Mar 28, 2012 3:52am Mar 28, 2012 3:52am
downward revision of that 4th Qtr gdp # from -0.2% to -0.3% sees £ sell off some more - now right in that previous Daily/4hr/1hr swing hi zone (previous resistance) @/around Daily S2 and 23.6% 5601-5600 at the current lo.


4hr is below.

@/below current Lo:

5906 23.6% 5601-6000
5905-5895-78 prev 4hr/1hr sw hi zone incl 5903 = Daily S2 @/around, 5900 50% 5800-6000, 5884-83 2 x fibs inc 50% 5769-6000
5876 61.8% 5800-6000
5867-64 prev 1hr sw hi zone incl 5865 = Daily S3 @/around
[ 5860-46 6 x fibs incl 5857=61.8% 5769-6000, 5848 = 38.2% 5601-60000, 5847 =76.4% 5800-6000
[ 5845-50 ascending 4hr t/line coming thru on this present 1hr candle
5829 85.4% 5800-6000
5825-23 Weekly & Monthly Pivots @/around incl = 5823 76.4% 5769-6000
5817 50% 5634-60000
5810-5800- (5797) prev 4hr/1hr sw lo zone inc 5809 2 x fibs, and 5802-01 2 x fibs incl 50% 5601-60000
5789-81 prev 1hr sw lo zone incl 5783 = Weekly S1@/around
5780-69 prev minor Dly/4hr/1hr sw lo zone incl 5774 61.8% 5634-60000
5764-65 2 x fibs
5754 61.8% 5601-60000

G/L


Quoting bbmac
Uk data at 0930am bst = gmt +1.

Any downside revision on that -0.2% final 4th qtr gdp # could see knee-jerk £ pressure ? Conversely any upside revision could see knee-jerk £ strength? Current a/c data release too. How lomg these effects may last - time and PA will/may tell us.

G/L
Attached Image (click to enlarge)
Click to Enlarge Name: z.jpg Size: 125 KB
ex member
  • #305,072
  • Mar 28, 2012 3:54am Mar 28, 2012 3:54am
here is the chart posted yesterday and see how it developed overnight.

normally it should touch the circled area @ 5886-5888 as a 50% fibo and then the 61.8% which is some 5860 as well as flat KS on H4

but top kumo on H4 is 583X so....if it goes under 5875-60 area then we drop to 5838-45 area where we have better support

bids from East European and Middle East names are expected at 1.5900-10 and 1.5880, mixtures of bids and stops are tipped further out at 1.5840-50 and 1.5800-10.

so keep an eye on those levels as well
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GU H1 fibo.jpg Size: 69 KB
Click to Enlarge Name: GU nice develop.jpg Size: 89 KB
  • #305,073
  • Mar 28, 2012 4:02am Mar 28, 2012 4:02am
your charts are too small..can't you screenshot them using snagit or jing or even MS paint and post larger pics ? you can even use the snipping tool if using windows vista or 7. Thanks

Quoting redbeben
here is the chart posted yesterday and see how it developed overnight.

normally it should touch the circled area @ 5886-5888 as a 50% fibo and then the 61.8% which is some 5860 as well as flat KS on H4

but top kumo on H4 is 583X so....if it goes under 5875-60 area then we drop to 5838-45 area where we have better support

bids from East European and Middle East names are expected at 1.5900-10 and 1.5880, mixtures of bids and stops are tipped further out at 1.5840-50 and 1.5800-10.

so keep an eye on those levels as well
ex member
  • #305,074
  • Mar 28, 2012 4:07am Mar 28, 2012 4:07am
Quoting redbeben
here is the chart posted yesterday and see how it developed overnight.

normally it should touch the circled area @ 5886-5888 as a 50% fibo and then the 61.8% which is some 5860 as well as flat KS on H4

but top kumo on H4 is 583X so....if it goes under 5875-60 area then we drop to 5838-45 area where we have better support

bids from East European and Middle East names are expected at 1.5900-10 and 1.5880, mixtures of bids and stops are tipped further out at 1.5840-50 and 1.5800-10.

so keep an eye on those levels as well
Redbeben, welcome back to the thread. You know, those charts are too small to see. Maybe practise (off thread) to get them a bit larger please?
Gone to a better place
  • #305,075
  • Mar 28, 2012 4:12am Mar 28, 2012 4:12am
sorry to ruin the party but......
this looks not a bearish move to me....

still out and still waiting to shoot, but if i have to trade GU or die, i will go long (...and die! LOL)

let's see. patience will be the key today!!!
90% of traders use TA, indicators and prediction
  • #305,076
  • Mar 28, 2012 4:23am Mar 28, 2012 4:23am
Quoting _BBKing_
sorry to ruin the party but......
this looks not a bearish move to me....

still out and still waiting to shoot, but if i have to trade GU or die, i will go long (...and die! LOL)

let's see. patience will be the key today!!!

u noticed the stall at the 50% retrace as well
  • #305,077
  • Mar 28, 2012 4:29am Mar 28, 2012 4:29am
Quoting nAVIN2007
u noticed the stall at the 50% retrace as well
no i didn't! tks for remind me about it !!!!
this move reversed 1st @5915 strong + 35pips
then @5902 again strong! even more, considering bad gdp final release!
what i mean is: if this is a bearish pattern, price should be already below 5880. until i see her below that line, i will have my eyes in buy button to a possible target above 6000.

of course, not today!!! today looks like done to setup and test.
90% of traders use TA, indicators and prediction
  • #305,078
  • Mar 28, 2012 4:30am Mar 28, 2012 4:30am
Quoting _BBKing_
no i didn't! tks for remind me about it !!!!
this move reversed 1st @5915 strong + 35pips
then @5902 again strong! even more, considering bad gdp final release!
what i mean is: if this is a bearish pattern, price should be already below 5880. until i see her below that line, i will have my eyes in buy button to a possible target above 6000.

of course, not today!!! today looks like done to setup and test.
or today?! mmm, let's see!
90% of traders use TA, indicators and prediction
  • #305,079
  • Mar 28, 2012 4:33am Mar 28, 2012 4:33am
the 5902 was exactly 127% of the 5912-46 move...this 1st 5912-46 showed us that there were buyers at the previous dly/4hr/1hr swing hi (previous resistance)

G/L

Quoting _BBKing_
no i didn't! tks for remind me about it !!!!
this move reversed 1st @5915 strong + 35pips
then @5902 again strong! even more, considering bad gdp final release!
what i mean is: if this is a bearish pattern, price should be already below 5880. until i see her below that line, i will have my eyes in buy button to a possible target above 6000.

of course, not today!!! today looks like done to setup and test.
ex member
  • #305,080
  • Mar 28, 2012 4:33am Mar 28, 2012 4:33am
Quoting _BBKing_
no i didn't! tks for remind me about it !!!!
this move reversed 1st @5915 strong + 35pips
then @5902 again strong! even more, considering bad gdp final release!
what i mean is: if this is a bearish pattern, price should be already below 5880. until i see her below that line, i will have my eyes in buy button to a possible target above 6000.

of course, not today!!! today looks like done to setup and test.

lots of confluence around the 50% retrace..look at 4hr swing low to high..the 50% also confluence with the s2
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