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Cable Update (GBPUSD)

  • #305,081
  • Mar 28, 2012 4:35am Mar 28, 2012 4:35am
demo chart

not a easy short by any means..retest of support perhaps..quite hard to be sure
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  • #305,082
  • Mar 28, 2012 4:38am Mar 28, 2012 4:38am
Quoting bbmac
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

thanks for the info

let's see now but the ones I took yesterday I cannot make them bigger anymore.if you zoom in you will see them more or less.
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  • #305,083
  • Mar 28, 2012 4:39am Mar 28, 2012 4:39am
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.

nice observations..
  • #305,084
  • Mar 28, 2012 4:40am Mar 28, 2012 4:40am
uhm ok thank you guys.

anyway, for what i know about the 1.59 area...... everytime here price get strong bounces off the 5915 5905 5925. always did in the past.
last time here, price lost the 5880 and tanked more into lower levels.
but this time is very different.
will be a massacre between 5890-5990!!!
the 'game' has just started today. i really hope will end soon.
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  • #305,085
  • Mar 28, 2012 4:43am Mar 28, 2012 4:43am
Quoting redbeben
thanks for the info

let's see now but the ones I took yesterday I cannot make them bigger anymore.if you zoom in you will see them more or less.
nice chart! as always!
i see exactly what i mean: if breakes down below 5880 will very probable test these lows as supply!

still not happening! let's see.
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  • #305,086
  • Mar 28, 2012 4:45am Mar 28, 2012 4:45am
Quoting nAVIN2007
demo chart

not a easy short by any means..retest of support perhaps..quite hard to be sure
sorry naV I got a noob question to ask u, what do u mean by retest of support? Touching it or breaking it? :nerd:
I trade to live
  • #305,087
  • Mar 28, 2012 4:48am Mar 28, 2012 4:48am
Quoting nAVIN2007
demo chart

not a easy short by any means..retest of support perhaps..quite hard to be sure
this chart is very clear!
i see so many times this pattern in m1 m5 charts everywhere but GU loves this kind of pattern!
the "small" bull flag seen last week, is the best declaration of demand.
if this was an m5 chart, would be an obvious long with a stop below that "small" bull flag, and target next main supply.
after that, if moves down, will find the wall again exactly at the "small" bullflag.

just my interpretetion!
90% of traders use TA, indicators and prediction
  • #305,088
  • Mar 28, 2012 4:54am Mar 28, 2012 4:54am
Quoting _BBKing_
nice chart! as always!
i see exactly what i mean: if breakes down below 5880 will very probable test these lows as supply!

still not happening! let's see.

well that flat kumo base is actually the 50% fibo as well.I don't know why but lately(as I don't use fibo on a daily basis)I saw that EU and GU love the 50% level in particullar...don't know why.

EU normally bounces off 50% GU so so

that flat base is 5886.the more hours we spend here the more the candles will shift right and the base of the kumo will be 1.5900.
Meaning that with the next H1 candle the base will be 5899 and 2 hours later 1.5900.

that's why I said that I will trail from 5888 (2 pips ahead of 5886) just to be surecoz it will either bounce or brake to test 61.8%.

61.8% is the next target and that one is 5858-5860 but I guess it will pierce that level and head south to the buyers arms @ 5840-5850 as reported.
from that level a good buy would do it

now....I just wait
2/3 left of my shorts since last night and SL @ BE on them so free ride now.

frankly,long term view,any buy below 1.60 is a good buy I just want a deeper fall to load longs
  • #305,089
  • Edited 5:00am Mar 28, 2012 4:58am | Edited 5:00am
As nAVIN said.....tricky short here.....but may be worth the risk.....
I don't trust any move - when you have profit...take it.
  • #305,090
  • Mar 28, 2012 5:00am Mar 28, 2012 5:00am
Quoting redbeben
well that flat kumo base is actually the 50% fibo as well.I don't know why but lately(as I don't use fibo on a daily basis)I saw that EU and GU love the 50% level in particullar...don't know why.

EU normally bounces off 50% GU so so

that flat base is 5886.the more hours we spend here the more the candles will shift right and the base of the kumo will be 1.5900.
Meaning that with the next H1 candle the base will be 5899 and 2 hours later 1.5900.

that's why I said that I will trail from 5888 (2 pips ahead of 5886) just to be surecoz it will either...
yes GU EU usually bounce off the 50% fibo. i also don't know the reason. maybe due to other things other levels etc...
i was used to trade only bounces off the 61.8% fibo but...market actually saying this since some months.
i also think a buy below 6000 in med term is good and still waitin to see something good to load a long but this thing is able to stay flat here today tomorrow then shoot up (ok, or down) in friday's NY session just to print w/m closing! or at least until everything will be lined up in techs. not easy to recognize so only patience will tell!

let's see
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  • #305,091
  • Mar 28, 2012 5:01am Mar 28, 2012 5:01am
Quoting UbuFamily
sorry naV I got a noob question to ask u, what do u mean by retest of support? Touching it or breaking it? :nerd:

not a noob question..no question is a noob question

means it is acting as a support as it was recent resistance, now price pullbacks to the point..where the key players can either load up or use the area to trick the retail players (us)

right now..we in the place where it can go up but also sink..depends on yur analysis but its 50:50 according to me

my 4hr just closed bearish but wick is fairly long so again there will be buyers coming in towards 1.59 around news of US..so its completely at the mercy of news later which will be the trigger
  • #305,092
  • Mar 28, 2012 5:02am Mar 28, 2012 5:02am
Quoting _BBKing_
this chart is very clear!
i see so many times this pattern in m1 m5 charts everywhere but GU loves this kind of pattern!
the "small" bull flag seen last week, is the best declaration of demand.
if this was an m5 chart, would be an obvious long with a stop below that "small" bull flag, and target next main supply.
after that, if moves down, will find the wall again exactly at the "small" bullflag.

just my interpretetion!
this is what i mean in a similar setup seen in m15.
similar coz here price was in strong demand area while now hard to call this as strong demand area... but explain what i meant before.

gotta leave.
good luck everyone,
bybye
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90% of traders use TA, indicators and prediction
  • #305,093
  • Mar 28, 2012 5:04am Mar 28, 2012 5:04am
Quoting Faller
As nAVIN said.....tricky short here.....but may be worth the risk.....


But if it does start to drop.....it will probably be fast and furious....
I don't trust any move - when you have profit...take it.
  • #305,094
  • Mar 28, 2012 5:04am Mar 28, 2012 5:04am
Quoting nAVIN2007
demo chart

not a easy short by any means..retest of support perhaps..quite hard to be sure
Your divergence lines played out nicely. Isn't there some bearish divergence developing on that chart, now?
Gone to a better place
  • #305,095
  • Mar 28, 2012 5:05am Mar 28, 2012 5:05am
50% of the total move down from 6000 sees supply.

How strong are the bears now ?

G/L
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ex member
  • #305,096
  • Mar 28, 2012 5:06am Mar 28, 2012 5:06am
Quoting nAVIN2007
not a noob question..no question is a noob question

means it is acting as a support as it was recent resistance, now price pullbacks to the point..where the key players can either load up or use the area to trick the retail players (us)

right now..we in the place where it can go up but also sink..depends on yur analysis but its 50:50 according to me

Thanks naV.. better not entering a scalp now as I am too uncertain about last PA
I trade to live
  • #305,097
  • Edited 5:19am Mar 28, 2012 5:09am | Edited 5:19am
Quoting smikester
Your divergence lines played out nicely. Isn't there some bearish divergence developing on that chart, now?

nope there isnt..but the index has bullish diverence which will keep cable up..so in my view i personally dont see a tank (huge sell off) monthly is worrying..as body is bearish so far, indecision to move up..so its tricky not clear

quarterly ends at monthly close and the higher it is the better..keeping long term target alive

why is this area tricky any1? 1.5923 around
  • #305,098
  • Mar 28, 2012 5:24am Mar 28, 2012 5:24am
Cable is currently breaking important support at 1.5925

watch all the things around....

euro, cad, aud, and oil - keep your ear to the ground.
I don't trust any move - when you have profit...take it.
  • #305,099
  • Mar 28, 2012 5:27am Mar 28, 2012 5:27am
Market talk of sell stops below 1.5900 in GBP/USD - Unconfirmed

FX Commentary
I don't trust any move - when you have profit...take it.
  • #305,100
  • Mar 28, 2012 5:27am Mar 28, 2012 5:27am
Quoting nAVIN2007
nope there isnt..but the index has bullish diverence which will keep cable up..so in my view i personally dont see a tank (huge sell off) monthly is worrying..as body is bearish so far, indecision to move up..so its tricky not clear

quarterly ends at monthly close and the higher it is the better..keeping long term target alive

why is this area tricky any1? 1.5923 around
the long leg of 5903 shows buying pressure right? Hence, few candles include now able to climb a little bit up..hmmm...opinion only..

add: totally PA assumption...
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