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Cable Update (GBPUSD)

  • #311,741
  • May 5, 2012 12:49pm May 5, 2012 12:49pm
we haven't completed the uptrend run yet imho. the weekly extension for the run is at about 6450. in weekly, you might not see why that price significant but you can clearly see it from the monthly..
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  • #311,742
  • May 5, 2012 12:52pm May 5, 2012 12:52pm
Quoting Bones
A that would be an engulfing ,it is dark clould cover if it breaks
but it didn't.. so it's not a BCC. see how different the candles in the blue square compared to last week's..

it's not BCC, it didn't break the previous low so it's not bearish yet.
  • #311,743
  • May 5, 2012 12:55pm May 5, 2012 12:55pm
still dont understand cable is text book
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  • #311,744
  • May 5, 2012 12:59pm May 5, 2012 12:59pm
Quoting Bones
still dont understand cable is text book
that's not dark cloud cover mate.. cover means that it broke the lows, it means that it covers the whole body of the previous candle..

how many time we get the kind like yours and then the next candle pumping up, and up and then break the high.. it's because it didn't break the low, so it's not bearish unless the pattern is like the blue square which tells us that bears are in control..
  • #311,745
  • May 5, 2012 1:48pm May 5, 2012 1:48pm
Quoting A-speculator
that's not dark cloud cover mate.. cover means that it broke the lows, it means that it covers the whole body of the previous candle..

how many time we get the kind like yours and then the next candle pumping up, and up and then break the high.. it's because it didn't break the low, so it's not bearish unless the pattern is like the blue square which tells us that bears are in control..

no he is right..100% dark cloud cover..its the gap up which is impt
it is reliable but hope it will fail..cause quarterly is saying potential for higher is there, at the very least a test of 1.6270
  • #311,746
  • May 5, 2012 2:03pm May 5, 2012 2:03pm
I thought wormboy said a single candle on its own means nothing...whatever the timeframe...so yeah it could be dark cloud cover but it will mean something if the next candle is bearish
  • #311,747
  • May 5, 2012 2:08pm May 5, 2012 2:08pm
Quoting monkey@forex
I thought wormboy said a single candle on its own means nothing...whatever the timeframe...so yeah it could be dark cloud cover but it will mean something if the next candle is bearish

this is true if u talking confirmations..which he is
  • #311,748
  • May 5, 2012 3:09pm May 5, 2012 3:09pm
Pile on the bearish pressure?
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  • #311,749
  • May 5, 2012 3:10pm May 5, 2012 3:10pm
Incorrect ,please study more
I have set out a scenario thats all .also Ive given pitfalls that it may fail please check post
I have also set out a much better trade ,all for free
Cable pattern is a Pattern with high reliabilty



Quoting A-speculator
that's not dark cloud cover mate.. cover means that it broke the lows, it means that it covers the whole body of the previous candle..

how many time we get the kind like yours and then the next candle pumping up, and up and then break the high.. it's because it didn't break the low, so it's not bearish unless the pattern is like the blue square which tells us that bears are in control..
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #311,750
  • May 5, 2012 3:12pm May 5, 2012 3:12pm
Pattern is high reliability ,Azim knows this !!

Single candle pattern not as powerfull as 3 its true



Quoting monkey@forex
I thought wormboy said a single candle on its own means nothing...whatever the timeframe...so yeah it could be dark cloud cover but it will mean something if the next candle is bearish
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #311,751
  • May 5, 2012 3:15pm May 5, 2012 3:15pm
But also I read more charts for confluence


Quoting Bones
Incorrect ,please study more
I have set out a scenario thats all .also Ive given pitfalls that it may fail please check post
I have also set out a much better trade ,all for free
Cable pattern is a Pattern with high reliability
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #311,752
  • May 5, 2012 3:21pm May 5, 2012 3:21pm
Gap up not required in forex often actually im thinking that makes more powerful also upper wick more powerful ,this candle will break I believe straight away

Neck on line but thats what I see

Quoting nAVIN2007
no he is right..100% dark cloud cover..its the gap up which is impt
it is reliable but hope it will fail..cause quarterly is saying potential for higher is there, at the very least a test of 1.6270
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #311,753
  • May 5, 2012 3:25pm May 5, 2012 3:25pm
this is not h4 or even 15 min (1min lol you gotta have time on your hands ) ,W1 very good timeframe indeed for day trader ,anyway only time will tell
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  • #311,754
  • May 5, 2012 3:27pm May 5, 2012 3:27pm
Very accurate ,only what I have been told by real trader


Quoting Bones
BB that candle was born Wed ,its the weekly no way in my eyes there can be any other result even if we went up to top it would be bearish without any doubt whatsoever more than happy to put my neck on line
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  • #311,755
  • May 5, 2012 3:29pm May 5, 2012 3:29pm
Quoting A-speculator
i think there's reasons why the move for this week is so bloody slow. i think one of them is it's because the price is telling us that the down move is just a retracement. how far this retracement go, that's another question..

technically, yes we have strong support at 6060 area, but we still unable to close below the previous weekly low which mean that the candle is not a black cloud cover..

furthermore, the swissy is at it's weekly resistance so is the candy. my plan is, i'll stay flat for the time being until i saw the first momentum/uptrust...
Slow?? Man, that handicapped snail EG moves faster, much faster than this did last week. I've even resorted to doing some analysis on the GY to get my interest back. Even if my GY analysis is wrong, it's worth the loss just to get involved again
Come with me if you want to live....
  • #311,756
  • May 5, 2012 3:30pm May 5, 2012 3:30pm
Quoting Bones
Gap up not required in forex often actually im thinking that makes more powerful also upper wick more powerful ,this candle will break I believe straight away

Neck on line but thats what I see
i hate to say it but it does tie in with my analysis completely..please tell me tony u dont think this is falling very deep..

where u seeing cable in 3 months time u reckon..? high or low
  • #311,757
  • May 5, 2012 3:31pm May 5, 2012 3:31pm
Text book bull ,I see quoted ,textbook ,wakey wakey ha ha

Quoting Bones
Very accurate ,only what I have been told by real trader
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  • #311,758
  • May 5, 2012 3:37pm May 5, 2012 3:37pm
Next week we will know £ is bullish ,def, I think 2.6300 very strong ,immediate rising tl in danger (gbp lfx)

But $ wow look at daily usd lfx



Quoting nAVIN2007
i hate to say it but it does tie in with my analysis completely..please tell me tony u don't think this is falling very deep..

where u seeing cable in 3 months time u reckon..? high or low
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  • #311,759
  • May 5, 2012 3:46pm May 5, 2012 3:46pm
wow look what it did
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  • #311,760
  • May 5, 2012 3:53pm May 5, 2012 3:53pm
Gbp Jpy = Down without doubt


Quoting Ill-b-back
Slow?? Man, that handicapped snail EG moves faster, much faster than this did last week. I've even resorted to doing some analysis on the GY to get my interest back. Even if my GY analysis is wrong, it's worth the loss just to get involved again
On-site guru & also FF member's' psychiatrist, when not drinking tea
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