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Cable Update (GBPUSD)

  • #308,821
  • Apr 18, 2012 6:42am Apr 18, 2012 6:42am
Quoting smikester
I thought it only fair to complete my observations. I'm not bullish. That was a low time frame scalp. Look at this:

Attachment

This chart is telling me this is as high as we go. What does anyone else think?
I agree, this maybe our high today. However, I can honestly say that when I see bearish divergence like those 3 higher peaks, followed by a hidden bullish divergence then a new run up and another new high (today), this speaks to me of a fake bearish divergence, with a new bull run to follow longer term. This
May come across as biased from me but the pattern is very familiar in long bull runs. Just my observation.
Come with me if you want to live....
  • #308,822
  • Apr 18, 2012 6:43am Apr 18, 2012 6:43am
Attached Image



I trade to live
  • #308,823
  • Apr 18, 2012 6:47am Apr 18, 2012 6:47am
here is a chart
Attached Image
  • #308,824
  • Apr 18, 2012 6:50am Apr 18, 2012 6:50am
Quoting Ill-b-back
I agree, this maybe our high today. However, I can honestly say that when I see bearish divergence like those 3 higher peaks, followed by a hidden bullish divergence then a new run up and another new high (today), this speaks to me of a fake bearish divergence, with a new bull run to follow longer term. This
May come across as biased from me but the pattern is very familiar in long bull runs. Just my observation.
Thank you. I was not seeing the reverse divergence and you have given me food for thought. It will be interesting if we get a close above last weeks high, this week.
Gone to a better place
  • #308,825
  • Apr 18, 2012 6:56am Apr 18, 2012 6:56am
  •  eggs
  • | Joined Nov 2011 | Status: Everybodys A Central Banker Here... | 819 Posts
Quoting smikester
Thank you. I was not seeing the reverse divergence and you have given me food for thought. It will be interesting if we get a close above last weeks high, this week.

Yes. Thanks for taking the time to post a chart. The business of counting waves can be confusing enough. Especially when it's explained without an example.
  • #308,826
  • Apr 18, 2012 6:58am Apr 18, 2012 6:58am
Your welcome
  • #308,827
  • Apr 18, 2012 6:59am Apr 18, 2012 6:59am
Quoting UbuFamily
why can't I post in your thread?
you can now
  • #308,828
  • Apr 18, 2012 7:02am Apr 18, 2012 7:02am
Quoting smikester
Thank you. I was not seeing the reverse divergence and you have given me food for thought. It will be interesting if we get a close above last weeks high, this week.
Having said that, I am now short for NY and going to bed soon
Come with me if you want to live....
  • #308,829
  • Apr 18, 2012 7:16am Apr 18, 2012 7:16am
Quoting Ill-b-back
Having said that, I am now short for NY and going to bed soon
Goodnight. Hope that baby doesn't keep you awake.. (I've lost the plot with cable. now flat)
Gone to a better place
  • #308,830
  • Apr 18, 2012 7:24am Apr 18, 2012 7:24am
Quoting smikester
Goodnight. Hope that baby doesn't keep you awake.. (I've lost the plot with cable. now flat)
Thankyou. Well, I guess since the world has lost the financial plot, it only makes sense that it be reflected in the charts Isabel sleeping almost right through now
Come with me if you want to live....
  • #308,831
  • Apr 18, 2012 7:35am Apr 18, 2012 7:35am
Well that 4hr short didn't quite work out
Come with me if you want to live....
  • #308,832
  • Apr 18, 2012 7:36am Apr 18, 2012 7:36am
Quoting PoundTrader
you can now

I trade to live
  • #308,833
  • Apr 18, 2012 7:38am Apr 18, 2012 7:38am
Quoting Ill-b-back
Thankyou. Well, I guess since the world has lost the financial plot, it only makes sense that it be reflected in the charts Isabel sleeping almost right through now
Nice name bro
I trade to live
  • #308,834
  • Apr 18, 2012 7:42am Apr 18, 2012 7:42am
How many times Miss cable need to knock on 1.6 door? The bull owner seem not inviting enough. Very very strong resistance. A close above 1.6 will surely flood this thread back to life again. lol
I trade to live
  • #308,835
  • Apr 18, 2012 7:43am Apr 18, 2012 7:43am
Quoting Ill-b-back
Thankyou. Well, I guess since the world has lost the financial plot, it only makes sense that it be reflected in the charts Isabel sleeping almost right through now
Of course, sorry, I meant Isabel, not "that baby"... LOL... Happy days, hard work.
Gone to a better place
  • #308,836
  • Apr 18, 2012 7:45am Apr 18, 2012 7:45am
This is my current view.
Attached Image (click to enlarge)
Click to Enlarge Name: my view.jpg Size: 83 KB
  • #308,837
  • Apr 18, 2012 7:58am Apr 18, 2012 7:58am
GU and DX charts below....
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gud.jpg Size: 112 KB
Click to Enlarge Name: gu4.jpg Size: 119 KB
Click to Enlarge Name: dx1.jpg Size: 86 KB
  • #308,838
  • Edited 8:25am Apr 18, 2012 8:06am | Edited 8:25am
At the current daily hi price tested deep into the:

'... 5994-6004 prev minor 4hr sw lo zone (non immed) incl 6000=76.4% 6061-5803...'

Great examples of a general opa (ovberall price action-peak/valley analysis) uptrend and rbs with fibs.

A pretty orderly ascent on 1hr Gbpusd from 5817 (point a) to point b (crucially above the last 2 x LH's shown after a HL also shown) pulling back to a previous 1hr swing hi zone confluence with 50% fib of said move a-b, at point c. Move c-d pulls back again to 50% fib of the total a-d move at point e before a leg higher to point f which pulls back this time to a previous 4hr/1hr swing hi zone at point g and results in a further leg higher to point h before more supply hits the market.

G/L
Attached Image (click to enlarge)
Click to Enlarge Name: Gbpusd 1Hr.jpg Size: 90 KB
ex member
  • #308,839
  • Apr 18, 2012 8:56am Apr 18, 2012 8:56am
http://fxtrade.oanda.com/analysis/fo...r-book#GBP/USD
almost all short on Oanda

but I just read this.

"he British pound was the only gainer against the U.S. dollar, the pair rallied after the Bank of England's minutes, where the committee decided to keep benchmark rates steady, however Adam Posen one of the members had given-up his call for further asset purchases or stimulus, his move followed the recent stability seen in the services and manufacturing sectors, in addition to threats of inflationary pressures over the medium time horizon. Meanwhile, Unemployment rate dropped to 8.3% in February from 8.4%, while jobless change dropped as well to 3.6 thousand in March from the previous revised up reading of 4.5 thousand. The GBP/USD hit new daily highs at 1.5993 and currently trading around 1.5972, the medium term outlook for the pair looks more positive now, eying a break above the main 1.6000 psychological barrier, however taking into consideration that downbeat data from Europe may tie the pair's upside potential in the near term.


I got 4 short positions on this pair and this latest up news does concern me.What do you guys think.Any possibility this pair coming back to earth? like even 5900 next few days?
Thank you.
In trading, you have to be defensive and aggressive at the same time
  • #308,840
  • Apr 18, 2012 9:02am Apr 18, 2012 9:02am

for sure ...let's daily closed first mate ..there we can make rough projection to shoot the PRZ

at bigger frame work ,did u see something else there ?

just 0.00000000001 cent . time will tell
Quoting corpo30
This is my current view.
not euphoria follower
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