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Cable Update (GBPUSD)

  • #308,301
  • Apr 16, 2012 2:34am Apr 16, 2012 2:34am
classic repeating patterns of bullish divergence in oscillators at the current daily lo to the 1hr t/f...30min shown below as eg. How true are these ?

G/L
Attached Image (click to enlarge)
Click to Enlarge Name: 30min.jpg Size: 98 KB
ex member
  • #308,302
  • Apr 16, 2012 2:41am Apr 16, 2012 2:41am
The Daily sceenshot below shows the current daily lo and the ascending trend line on this t/f at/around it.

G/L
Attached Image (click to enlarge)
Click to Enlarge Name: z.jpg Size: 89 KB
ex member
  • #308,303
  • Apr 16, 2012 3:02am Apr 16, 2012 3:02am
Corect !
  • #308,304
  • Apr 16, 2012 3:06am Apr 16, 2012 3:06am
Quoting bbmac
The Daily sceenshot below shows the current daily lo and the ascending trend line on this t/f at/around it.

G/L
This is what i got for GBPUSD... reason why we are stuck is because we also have some resistance form the upside...
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdh4.0904-16042012.gif Size: 19 KB
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #308,305
  • Apr 16, 2012 3:21am Apr 16, 2012 3:21am
Broadening triangle on M5 and H4. A very confused market. Some traders see it as a fix. It's just a market. If you think they are out to get you, get a job planting spuds

Below we have dynamic support line from January. This will be influential. We also have various bullish divergence as pointed out by bbmac. Always consistent. Thanks also to other chart posters.

We also have horizontal support, tested a few times, burst in March. My guess is we bounce from here, but not very high. I like the grey box area, in particular the 50% level ... = +/- 1.59

Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd120416h4.gif Size: 31 KB



Attached Image


How I would like my analysis to be...

Gone to a better place
  • #308,306
  • Apr 16, 2012 3:32am Apr 16, 2012 3:32am
...certainly seems to be demand down there...wouldn't be surprised in more emeregd down to 5797 if tested. 4hr is below. the 1st previous 1hr swing lo provided the supply on 1st pullback from this zone (prev supp became res.)

G/L
Attached Image (click to enlarge)
Click to Enlarge Name: z.jpg Size: 131 KB
ex member
  • #308,307
  • Apr 16, 2012 3:37am Apr 16, 2012 3:37am
Wallabys indicator (average of 5M, 15M, H1 stochastics) on M15 shows divergence - many mentioned this earlier, just average of few different time frames proved to be more accurate...

Looking to 5m close above 5845 to prove my already doomed long..
Attached Image(s) (click to enlarge)
Click to Enlarge Name: cable 15 div.jpg Size: 244 KB
Click to Enlarge Name: cable 5 target.jpg Size: 268 KB
69
  • #308,308
  • Apr 16, 2012 3:55am Apr 16, 2012 3:55am
H1 close above 39 or 42 would be nice..
Attached Image (click to enlarge)
Click to Enlarge Name: cable h1 close.jpg Size: 155 KB
69
  • #308,309
  • Apr 16, 2012 4:00am Apr 16, 2012 4:00am
Quoting Likerty
H1 close above 39 or 42 would be nice..
You nailed it. It's all about 1.5840 this morning.
Gone to a better place
  • #308,310
  • Apr 16, 2012 4:08am Apr 16, 2012 4:08am
Quoting smikester
You nailed it. It's all about 1.5840 this morning.
and 1.5820 on the down side...very tight range.....

1.5820 support and 1.5840 resistance...
superbly tight range backed by low liquidity.... explains the lack of movement in London open.... but something will give on NY open...
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #308,311
  • Apr 16, 2012 4:13am Apr 16, 2012 4:13am
There sure is a lot of pushing on both sides. But the decision at 5840 is certainly capping us for the moment.

I still favor a a strong downturn towards 5750 to clear the air before heading back higher.
Attached Image (click to enlarge)
Click to Enlarge Name: gu.gif Size: 21 KB
Thanks for all the fish
  • #308,312
  • Apr 16, 2012 4:20am Apr 16, 2012 4:20am
Every time Bloomberg shows Spanish bonds on screen - DXY jumps few pips up you can almost feel tension in the air..
Euro feels even heavier - m5 can't climb above micro averages..
69
  • #308,313
  • Apr 16, 2012 4:25am Apr 16, 2012 4:25am
...certainly a 1hr break and close above the last 1hr hi would relieve the underlying bearishness . Daily Weekly and Monthly pivots are all positioned between 5878-84 so again a 1hr break and close above these would likely add to further alleviation of underlying bearishness ? (Daily R1 is up @/around 5929.)

Question is where are and how strong may the 'sell the rally' participants be ?

G/L
ex member
  • #308,314
  • Apr 16, 2012 4:30am Apr 16, 2012 4:30am
There's an M15 divergence on stochastics which shows a potential 50 pip bounce combined with H4 crossover in oversold.

EURUSD hourly shows rejection of 1.300 for short term and so could rise to 1.3050 on short covers before more add short.

Still very bearish but its not a straight line down and there are retracements to be expected.
  • #308,315
  • Apr 16, 2012 4:33am Apr 16, 2012 4:33am
Quoting bbmac
...certainly a 1hr break and close above the last 1hr hi would relieve the underlying bearishness . Daily Weekly and Monthly pivots are all positioned between 5878-84 so again a 1hr break and close above these would likely add to further alleviation of underlying bearishness ? (Daily R1 is up @/around 5929.)

Question is where are and how strong may the 'sell the rally' participants be ?

G/L
I would think somewhere in Smikesters grey box and descending TL confluence, but with that high shoulder and bearish candle, I'm surprised it is not just following thru now.
Come with me if you want to live....
  • #308,316
  • Apr 16, 2012 5:03am Apr 16, 2012 5:03am
http://www.forexlive.com/blog/2012/0...king-on-cable/
Gone to a better place
  • #308,317
  • Apr 16, 2012 5:05am Apr 16, 2012 5:05am
Quoting Likerty
Every time Bloomberg shows Spanish bonds on screen - DXY jumps few pips up you can almost feel tension in the air..
Euro feels even heavier - m5 can't climb above micro averages..
Lol

What is the latest yield for Spain there now?
I have 6.10% (10y) up by 0.08% since London open.

But the CDS snapshot for the whole Europe seems continue to decline.
  • #308,318
  • Apr 16, 2012 5:08am Apr 16, 2012 5:08am
Quoting Allseeingeye
I am so proud of you I will send you as my HERO OF THE YEAR TO GOLDMAN SACHS!

OH Because of you I LOADED UP BOTH ACCOUNTS 100% Leveraged try to play me A HOLE!
I LOVE IT WHEN PLANTS give ME THE THUMBS UP GREEN LIGHT TO ROLL THE DICE! IT MAKES LIFE EASIER! NOW I CAN PLAY THEM!

How's it working out for you?

http://www.forexfactory.com/showthre...63#post5574763
I don't trust any move - when you have profit...take it.
  • #308,319
  • Apr 16, 2012 5:09am Apr 16, 2012 5:09am
long @ 1.58536



gonna ride the bull.. we're at a nice support level and stochastics has been oversold for a long time on the 1hr
  • #308,320
  • Apr 16, 2012 5:10am Apr 16, 2012 5:10am
Quoting Faller
not sure we will see much more of a move till later....that is why position has been closed.

I will not say what I am going to do know as it may go over many people's heads here and I do not have the fortitude to explain.

Good evening all...

Faller.

I don't trust any move - when you have profit...take it.
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