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Cable Update (GBPUSD)

  • #305,241
  • Mar 29, 2012 3:26am Mar 29, 2012 3:26am
G/M

Bearish daily candle resulted yesterday from the inverted hammer candle on the same t/f the day before. Yesterday's lo was @/around 38.2% of the 5601-6000/76.4% 5769-6000 and the poullback from there has continued through the asian and early london session to 76.4$ yesterday's down move as the Hi of that pullback/recovery so far.

Near-term current 1hr shows the immediate potential supp/res factors, not shown is Daily R1 @/around 5953.

Uk data imminent.

G/L
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ex member
  • #305,242
  • Mar 29, 2012 3:27am Mar 29, 2012 3:27am
Quoting Red Alert
Do you still remember how cable break high from 4H trend few week ago?
i think it's more complicated than you thought.... two group of bullish based and bearish based make argue war right now.... Both of them having very reasonable analysis. Hopefully your argument not just beacuse of justification of your trade postition....some time if u have a postition it will affect how you analyse the chart infront of you....try to learn from you all, as daily trader all of your analysis very valuable and i appreciate that...good luck guys, it will be more...
i just basing my analysis by s&r level, i do say yesterday at 5850 price level, high possibility of bulls come into market and price might stalled. atm, i'm saying that at about 5925 bears might come in and price might stall at that level, unless a confirmed breakout of that level...
  • #305,243
  • Mar 29, 2012 3:28am Mar 29, 2012 3:28am
looking at it on 4hr/1hr the lo yesterday breeched the ascending daily/4hr trend line bit on the Daily looks like a bounce from it..(nb 1hr pic abve has the trend line moved to accomodate the new 4hr swing lo at yesterday's lo)

G/L
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ex member
  • #305,244
  • Mar 29, 2012 3:29am Mar 29, 2012 3:29am
Quoting nAVIN2007
hidden bullish diverence on 4hr as well
yes also that!
uff i tryied to hide the macd....
now everyone know the secret
90% of traders use TA, indicators and prediction
  • #305,245
  • Mar 29, 2012 3:32am Mar 29, 2012 3:32am
Quoting A-speculator
wow.. i didn't think to use that method mate.. how's the result in decision making of having different brokers and different closing time?
ah no no.. i simply have 5 brokers installed for other reasons (test of broker, test of indi, Ea etc...) and have 3 different closing time in h4 charts. but i really don't care where close an h4 candle. indeed everytime i do some analyze in h4 chart i use not candlesticks. i use h4 charts only to see older levels in screen, then switch to h1 or daily etc...
90% of traders use TA, indicators and prediction
  • #305,246
  • Mar 29, 2012 3:33am Mar 29, 2012 3:33am
Quoting nAVIN2007
hidden bullish diverence on 4hr as well
Hidden bullish ??
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Come with me if you want to live....
  • #305,247
  • Mar 29, 2012 3:37am Mar 29, 2012 3:37am
Quoting nAVIN2007
hidden bullish diverence on 4hr as well
Sorry nAV, I see it.
For my own education, if MACD does NOT cross the signal line, does the next MACD formation count in a divergence pattern?
Come with me if you want to live....
  • #305,248
  • Mar 29, 2012 3:37am Mar 29, 2012 3:37am
4:30AM in the morning here......market is really gittery.
I don't trust any move - when you have profit...take it.
  • #305,249
  • Mar 29, 2012 3:38am Mar 29, 2012 3:38am
Quoting Ill-b-back
Hidden bullish ??
that is not hidden..triggered already

man u are funny
  • #305,250
  • Mar 29, 2012 3:40am Mar 29, 2012 3:40am
Perhaps the 2hr showed the hidden bullish divergence at yesterdays low better ?

G/L
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ex member
  • #305,251
  • Mar 29, 2012 3:44am Mar 29, 2012 3:44am
short entry was at 1.5925ish......

but I am flat right now......waiting.
I don't trust any move - when you have profit...take it.
  • #305,252
  • Mar 29, 2012 3:46am Mar 29, 2012 3:46am
waiting for price retrace back to 1.5920ish area to see how price reacts....may not get there though....
I don't trust any move - when you have profit...take it.
  • #305,253
  • Mar 29, 2012 3:48am Mar 29, 2012 3:48am
Quoting Ill-b-back
Sorry nAV, I see it.
For my own education, if MACD does NOT cross the signal line, does the next MACD formation count in a divergence pattern?
ah no we were talking about AU
sorry, i forgot to mention the "OUT OF TOPIC" thing
Attached Image
90% of traders use TA, indicators and prediction
  • #305,254
  • Mar 29, 2012 3:49am Mar 29, 2012 3:49am
Quoting nAVIN2007
that is not hidden..triggered already

man u are funny
I know it isn't hidden and I know it isn't bullish, hence the question mark bro .
You called hidden bullish divergence on the 4 hr and I was questioning "where is it"??
But I then saw it to the left, triggered as you said.
My question is now, is my image classic BEARISH divergence if MACD hasn't crossed the signal line?
Your the funny one bro, keep up..
Come with me if you want to live....
  • #305,255
  • Mar 29, 2012 3:52am Mar 29, 2012 3:52am
Quoting _BBKing_
ah no we were talking about AU
sorry, i forgot to mention the "OUT OF TOPIC" thing
Ahh @#*% ok, I'm hedged, so I'm just gunna shut up and watch the fireworks either today or tomorrow, 'cause their is going to be some for sure.
We may also have a daily inside bar today if not much happens.
Come with me if you want to live....
  • #305,256
  • Mar 29, 2012 3:52am Mar 29, 2012 3:52am
Quoting Faller
waiting for price retrace back to 1.5920ish area to see how price reacts....may not get there though....
according to daily looks like IF will go up, should correct down today.
but not easy to read things today!
let's see
90% of traders use TA, indicators and prediction
  • #305,257
  • Mar 29, 2012 3:52am Mar 29, 2012 3:52am
Quoting Faller
short entry was at 1.5925ish......

but I am flat right now......waiting.
Hi faller, that smart to put short there, 1925 is key for bullish or bearish today, very strong resistance, it was bounced from there for about 7 times, if every bounce u put a position then you shold got more pips?...., .....i missed it......waw...missed the small train....
  • #305,258
  • Mar 29, 2012 3:52am Mar 29, 2012 3:52am
m30
Quoting iqyu5an
what i see m15
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not euphoria follower
  • #305,259
  • Mar 29, 2012 3:57am Mar 29, 2012 3:57am
Quoting Ill-b-back
Ahh @#*% ok, I'm hedged, so I'm just gunna shut up and watch the fireworks either today or tomorrow, 'cause their is going to be some for sure.
We may also have a daily inside bar today if not much happens.
thinking about hedging also bro, but will decide if go lower than 885, hope will break 925....based on H1 chart i hope it will climb up soon today or tomorrow..we will see, also depend on how news from both side today
  • #305,260
  • Mar 29, 2012 3:58am Mar 29, 2012 3:58am
http://i43.tinypic.com/25gcghe.png

Attached is a 4 hourly chart for the GBPUSD. GBPUSD shows an uptrend channel in a 4hr chart creating higher lows but we can expect a breakout on either side.

Scenario 1: If it not able to break the trend line a counter position can be taken.

Scenario 2: If it is able to break the resistance of the uptrend channel then GBPUSD would indicate a further upside so it will trigger a buying opportunity.

Scenario 3: If it is able to break the support of the uptrend channel then GBPUSD would indicate a downside so it will trigger a selling opportunity.
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