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Cable Update (GBPUSD)

  • #308,181
  • Apr 13, 2012 1:29pm Apr 13, 2012 1:29pm
Quoting Johnny Depp
cables should break .58 just like that next week with no bounce if it want to break .56... if not I've got to be super extra carefull for the next bearish spot.. I even dont have a clue where this cable r going this month.. maybe its going to range untill next month..
Probably bro....

Good night to u mate...very late here and comfy bed calling my names...

Night All
I trade to live
  • #308,182
  • Apr 13, 2012 2:26pm Apr 13, 2012 2:26pm
Daily candle could well close as a master bearish engulfing - possibly a thrust candle as well - engulfing at least 1 of the preceeding candles, possibly 4 depending where it closes. At the current daily lo 85.4% 5816-5983, 200sma-4hr and the steepest Daily/4hr ascending trend line. Weekly candle could well close bearish also following last week's bearish engulfing weekly candle.

G/L
ex member
  • #308,183
  • Edited 3:01pm Apr 13, 2012 2:51pm | Edited 3:01pm
Sometimes even i can scare myself how well i can predict moves... and guess what... ben bernanke didnt say shit about QE3 now did he... well he has no choice... no more bullets left... i told you he cannot change his story like he changes is diapers, so even i wasnt sure i was go go for +80% chance he will NOT speak about QE3... well well guess i guessed it right...

BTW this is for the people who think i aint good at techs...
i guess i draw my trendlines alright because guess what... market reacting to each and everyone of them... yep including the immediate ascending trendline support we are testing near 1.584x area...

This is now
Attached Image (click to enlarge)
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This
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdh4new.gif Size: 19 KB


Guess im shit at charting afterall huh... well atleast i was sure a dip would happen...

PS... Food for Bulls Thought... I wonder if you can clarify if this is a bullish or bearish move... 2 Simple candles easily taking out whatever gains we have over the week on the bull rally...
Sorry Nav, seems like im closer to win the battle...
BTW... considering how we close tonight and how we open Monday... Im Getting signals to Short GBPUSD as it is now... See MACD Turning Red?? see MA5 (Yellow) Below MA14(Purple)?? And See Standard Deviation Wicking Up??
well thats a clear signal to short for another leg down.... Supported by a possible close of today with a Bullish Engulfing Candle on a Daily Chart... Maybe this time we'll see it go all back down to 1.5200 but hey i had my bets that it'll get to 1.56 against Nav's 1.62
Like i said... Don't Fuck with My Positions!
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #308,184
  • Apr 13, 2012 3:33pm Apr 13, 2012 3:33pm
Quoting UbuFamily
Okay my bad...Let's get back to cable..

u have charts supporting your bullish moves as u said in your previous post?
.5850 major support level.I am taking long for next week retraction.
I don't see it as dramatic drop below 5800.Might go long on EU as well.I live in US and dollar is not that strong yet.
My chart is simple.I use pivots CCI.
Attached Image (click to enlarge)
Click to Enlarge Name: cable.gif Size: 18 KB
In trading, you have to be defensive and aggressive at the same time
  • #308,185
  • Apr 13, 2012 3:49pm Apr 13, 2012 3:49pm
Quoting A-speculator
since there's no volume in the market, i closed all my positions and enter a small long as a test position,

the reason is because the price didn't break the 5800 level and atm very close to the daily asc TL.. with stops just below today low..

it's already very late here...

see u all later guyss.. chalozzzz
you are a funny man Specs
Come with me if you want to live....
  • #308,186
  • Apr 13, 2012 3:52pm Apr 13, 2012 3:52pm
Daily shows 56 for sure but see what the 4hr comes up with next week. Off to work
Come with me if you want to live....
  • #308,187
  • Apr 13, 2012 3:53pm Apr 13, 2012 3:53pm
Quoting Davit
.5850 major support level.I am taking long for next week retraction.
I don't see it as dramatic drop below 5800.Might go long on EU as well.I live in US and dollar is not that strong yet.
My chart is simple.I use pivots CCI.
Probably best if you dont just look at H1 chart... tell me what you see in the Daily??
Im gona guess you're seeing a Bearish Engulfing candle... this is a start of a reversal patter...
Also... 1.5850 is Not the Major Support.. 1.5800 is... reason why my 1st leg target down is 1.5800 next is 1.5600/1.5550
if i were you i'd watch my ass longing...
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #308,188
  • Apr 13, 2012 3:54pm Apr 13, 2012 3:54pm
Quoting Ill-b-back
Daily shows 56 for sure but see what the 4hr comes up with next week. Off to work

You heard it here first...
Im guessing my Spartan Battle is half won?? 1.56 my target 1.62 Nav's target??
Shall the Dancing Matador Have his Victory? or shall we wait and see just to finish off the bull??
Still... Don't Fuck with My Positions!
Peace
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #308,189
  • Apr 13, 2012 4:08pm Apr 13, 2012 4:08pm
Quoting bguguen

You heard it here first...
Im guessing my Spartan Battle is half won?? 1.56 my target 1.62 Nav's target??
Shall the Dancing Matador Have his Victory? or shall we wait and see just to finish off the bull??
Still... Don't Fuck with My Positions!
Peace
don't take my word for it that's current perspective. 4hr can jump in and invalidate everything on the daily, but currently 56 showing.
Come with me if you want to live....
  • #308,190
  • Apr 13, 2012 4:11pm Apr 13, 2012 4:11pm
Quoting bguguen
Probably best if you dont just look at H1 chart... tell me what you see in the Daily??
Im gona guess you're seeing a Bearish Engulfing candle... this is a start of a reversal patter...
Also... 1.5850 is Not the Major Support.. 1.5800 is... reason why my 1st leg target down is 1.5800 next is 1.5600/1.5550
if i were you i'd watch my ass longing...
Weekly shows uptrend.Look. Daily is down for sure but weekly still uptrend.
I don't see how you proceed to 1.5550 unless willing to wait loooooong time.I hope this was just a nervous retraction.Next week hoping to get back to 5980 level.
and to add I could very well be wrong and pay dearly
Attached Image (click to enlarge)
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In trading, you have to be defensive and aggressive at the same time
  • #308,191
  • Apr 13, 2012 4:13pm Apr 13, 2012 4:13pm
Quoting Ill-b-back
don't take my word for it that's current perspective. 4hr can jump in and invalidate everything on the daily, but currently 56 showing.
OR... Market may push lower on low liquidy on monday... ever thought of that?
As people thing 1.5800 may present a chance to bounce... low liquidity would be easy to drive the market Beyond 1.5800 without much of a fight.. reason why its low liquidity...
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #308,192
  • Apr 13, 2012 4:15pm Apr 13, 2012 4:15pm
Quoting Davit
Weekly shows uptrend.Look. Daily is down for sure but weekly still uptrend.
I don't see how you proceed to 1.5550 unless willing to wait loooooong time.
Not a big fan of Weekly Simply because we have been ranging for far too long to establish an trend until the range gets broken.... and im guessing a bearish doji on a weekly would also add to selling pressure??
btw the guy opposing me hoping to see 1.62 and i hoping to see 1.56 again have been waiting quite long...
NOT LONGER than him though since 1.56 is quite a recent number... in fact 1.52 is even closer in the past than 1.62....
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #308,193
  • Apr 13, 2012 4:29pm Apr 13, 2012 4:29pm
Quoting bguguen
Not a big fan of Weekly Simply because we have been ranging for far too long to establish an trend until the range gets broken.... and im guessing a bearish doji on a weekly would also add to selling pressure??
btw the guy opposing me hoping to see 1.62 and i hoping to see 1.56 again have been waiting quite long...
NOT LONGER than him though since 1.56 is quite a recent number... in fact 1.52 is even closer in the past than 1.62....
I'll be happy with 5980 Not greedy
That would be 180 pips for me.One of us will profit next week.
In trading, you have to be defensive and aggressive at the same time
  • #308,194
  • Apr 13, 2012 4:39pm Apr 13, 2012 4:39pm
Quoting Davit
I'll be happy with 5980 Not greedy
That would be 180 pips for me.One of us will profit next week.
we'll see... in the mean time im off to bed with a nice profit from my auto bot
http://www.myfxbook.com/members/bgug...-adryfx/260406
let you know a little secret... i didnt do shit and its making me money... 9.52% this month, and you know what?? i developed that shit...
im only testing it at this stage but when i decide that its ready to make serious money, ill have my hedge fund chip in extra money to speed up the money making progress
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #308,195
  • Edited 5:31pm Apr 13, 2012 5:04pm | Edited 5:31pm
Another subdued week in terms of pip range with 69% of 20 week atr covererd this week just closed, Friday being the exception with 125% of 20 day atr covered this day.

Weekly
This t/f remains more bullish than bearish in respect of recent overall price action (opa,) with a 2nd fractal HH now but with last week's bearish engulfing candle follows this week's bearish candle follow thru. Overall though and going farther back in time it is stuck in a range 6167-5234 ?

Daily
This t/f sees a Master bearish engulfing thjrust candle close on Friday whose body engulfs the previous 4 on that t/f, and makes the weekly hi at 5983 a fractal swing LH on this t/f that followed the fractal swing HL earlier in the week. This t/f too is probably more bullish than bearish in respect of recent opa but again looks rangy between 6061 and 5803 and probably 5769 ? Price closed Friday right on the steepest ascending trend line on this t/f. It is unusual not to see some follow thru on master engulfing candles on the higher t/f's and this remains the greater probability at some time.

4Hr
This t/f looks rangy - bearish in respect of opa..Friday's low whilst not a fractal swing - price will see a L or LL when it does print and this follows a LH. Like the Daily t/f this t/f too looks rangy between the weekly Lo and Hi 5807-5983.

1Hr
This t/f is in an opa general downtrend and price trades below it's 50, 100 and 200sma's. There is a minor 1hr ascending trend line below current price as well as the remaining unbreeched fibs of the 5807 and 5816 moves to the weekly hi at 5983 as well as a previous 1hr swing lo then a previous mionor Daily/4hr/1hr swing lo below leading down to 5807-03-5797 which contains the 85.4% of the 5769-6061 move @ 5811.

G/L
Attached Image(s) (click to enlarge)
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ex member
  • #308,196
  • Apr 13, 2012 5:19pm Apr 13, 2012 5:19pm
Looking to the immediate upside per the near-term 1hr screenshot in post above with Daily Pivot @/around 5871 and Daily R1 @/around 5936.

To the immediate downside: (Next week's weekly and Monday's daily pivots are included.)

[ 5845-39 prev minor 1hr sw lo zone incl 5841 = 85.4% 5816-5983
[ 5845-40 daily/4hr ascending trend line on 1st 4hr candle Monday
5833 85.4% 5807-5983
[ 5825-20 Daily/4hr ascending trend line on 1st 4hr candle Monday
[ 5828-16 prev 1hr sw lo zone
[ 5815-07-03-5798 prev minor Daily/4hr/1hr sw lo zone incl 5811 = 85.4% 5769-6061
5797 61.8% 5634-6061
[ 5788-68 prev Daily/4hr sw lo zone incl 5777 = 61.8% 5601-6061, 5775 = Daily S1 @/around, and 5773 = Weekly S1 @/around
5746 38.2% 5234-6061
5741-34-22 prev 4hr sw hi x 3 zone (non-immed) incl 5735 = 76.4% 5634-6061, and 5729 =Monthly S1 @/around
5710 76.4% 5601-6061 and Daily S2 @/around
5706-5697 (-93) prev 4hr sw lo zone incl 5702 = Weekly S2 @/around
5696 61.8% 5634-6061
5669 85.4% 5601-6061
5648 50% 5234-6061
5646-34 prev Daily/4hr swing lo zone
5630-18 prev 4hr sw lo zone
5615-01 prev Daily/4hr sw lo zone

G/L
ex member
  • #308,197
  • Apr 13, 2012 5:26pm Apr 13, 2012 5:26pm
Awesome annalist bbmac, as always! Great weekend to you!
  • #308,198
  • Apr 13, 2012 8:38pm Apr 13, 2012 8:38pm
The chart below shows where I feel the current nearby and important GU levels are.
As you can see, it is not unusual for price to find support or resistance near them.

Good luck next week.
Attached Image (click to enlarge)
Click to Enlarge Name: gu.gif Size: 20 KB
Thanks for all the fish
  • #308,199
  • Apr 14, 2012 12:56am Apr 14, 2012 12:56am
Quoting bbmac
Another subdued week in terms of pip range with 69% of 20 week atr covererd this week just closed, Friday being the exception with 125% of 20 day atr covered this day.

Weekly
This t/f remains more bullish than bearish in respect of recent overall price action (opa,) with a 2nd fractal HH now but with last week's bearish engulfing candle follows this week's bearish candle follow thru. Overall though and going farther back in time it is stuck in a range 6167-5234 ?

Daily
This t/f sees a Master bearish engulfing thjrust...
great analysis mate..

yeah, it surprised me too when we should have a follow thru with such long bearish candle on 4h.. it should get to 5800 easily but we didn't and we stop at about the previous support and the daily asc TL.. the market doesn't make it that easy nowadays huh..

got myself a small long at 5845, i'm not sure about any tanking as long as the 2 support hold.. we might even get a morning star next week on the weekly but who knows, right?
  • #308,200
  • Apr 14, 2012 1:30am Apr 14, 2012 1:30am
what concerns me about being bearish is the other pairs which suppose to support the down side movement on cable has turned around.

look at aussie, we have a confirmed breakout retest formation on the about 50% of the breakout candle..

kiwi is about the same view as aussie..

ucad we have a long bearish candle to the downside and a retest of the previous resistance which is about 50% of the move also..

swissy we have consolidation in daily and price failed to breakout the range which we still have exposure to the down side on this pair..

all this related to the strength of the dollar which i think indicate the first indication of dollar weakness.. and i think that is because we don't have a follow thru yesterday although we have quite a momentum on the 4h. we might have the start of a bullish pressure on cable next week, how fast we can see the move? well that's depend on how fast swissy and ucad move to the downside and correlate to each other..

well, that's my take on cable move next week..

have a nice weekend everyone. enjoy every pips we got yesterday..

good luck all!
Attached Image(s) (click to enlarge)
Click to Enlarge Name: aussie.gif Size: 36 KB
Click to Enlarge Name: kiwi.gif Size: 36 KB
Click to Enlarge Name: swissy.gif Size: 31 KB
Click to Enlarge Name: ucad.gif Size: 38 KB
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