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Cable Update (GBPUSD)

  • #313,981
  • May 20, 2012 9:41am May 20, 2012 9:41am
if taking into consideration from the second wave up, the area of confluences is not much different.. but the chart a bit messy.. lol.
Attached Image (click to enlarge)
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  • #313,982
  • Edited 10:20am May 20, 2012 10:09am | Edited 10:20am
Quoting Bones
Now pk my tl better than yours ? stronger ? note last months low been taken already
bones, as stated earlier, this zone is all that matters to me, not much the tl.
there is no such thing as better tl bro. it's either right or wrong.

another thing is.... if you consider third red arrow as extreme high then by all means.... but not in my book.

btw, i'm interested in making money with this, not so much on good ta.
Attached Image (click to enlarge)
Click to Enlarge Name: cable monthly 20-05-12.png Size: 32 KB
  • #313,983
  • May 20, 2012 10:39am May 20, 2012 10:39am
so, for cleaner chart, let's just take the first wave up into consideration only..
added 76.4% into fibo and we can see why the price behave the way it was.. i think the price will be in this range for quite sometime.. maybe months, maybe years...
Attached Image (click to enlarge)
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  • #313,984
  • May 20, 2012 12:09pm May 20, 2012 12:09pm
If it breaks to downside its bearish continuation pattern Nav I think with high reliability ,thats how I see it

Quoting nAVIN2007
what im positing i realise it looks like wishfull thinking however its an observation of price and how i see it behaves..watch it..if it cant break the low..the next touch on the line will break the top..

this is why tony says if the pin fails..i know where it going!! he knows

the movement is impt through the impt area..and i reckon this is at that impt area(bottom of range)..the pin breaking to the downside is on the watch list..
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #313,985
  • May 20, 2012 12:10pm May 20, 2012 12:10pm
Ok Pk ,I wont argue ,Ill be honest I have know idea what your talking about ,

Ta

Quoting pkimnyc
bones, as stated earlier, this zone is all that matters to me, not much the tl.
there is no such thing as better tl bro. it's either right or wrong.

another thing is.... if you consider third red arrow as extreme high then by all means.... but not in my book.

btw, i'm interested in making money with this, not so much on good ta.
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #313,986
  • May 20, 2012 1:35pm May 20, 2012 1:35pm
I want to post my vision about the short-term gbpusd, regardless of the various bottom theories (theories for now), the reality is that we are in a strong downtrend, and looks duty at this point to hazard a bearish short-term scenario.

The image speak by itself:
Attached Image (click to enlarge)
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  • #313,987
  • May 20, 2012 3:20pm May 20, 2012 3:20pm
monthly chart GBPJPY
for me is buy on dips now but not to hold it for many pips maybe 100 pips
Attached Image (click to enlarge)
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There shall be no QE3
  • #313,988
  • May 20, 2012 4:38pm May 20, 2012 4:38pm
Quoting msniper
its been long time i didn't use EW in my analysis so i dunno if i am doing good job right now. i spent few hours trying to figure how to analyze GU on the long term amd this is what i came up with.

price should follow the strict notes that i wrote on the chart otherwise the counting will fail.

if there is any EW expert here take a look on my chart and tell me if u agree or disagree with the counting.

I'm no expert but your reading of the charts and synopsis seems correct to me.
Show Me Your Pips!!!
  • #313,989
  • May 20, 2012 5:15pm May 20, 2012 5:15pm
GBPNZD reached 2.1, a short bullish GBP correction can push it to take out the top, to go short we just need commodities and stocks to regain strength, whenever this will be

http://img.picshare.at/1337551861_Sc....-20-23.39.png
  • #313,990
  • May 20, 2012 5:52pm May 20, 2012 5:52pm
entered short@ 1.5793 s/l @ 1.5860

no t/p

Have a great day guys...
I am a hunter...i kill both bulls and bears...
  • #313,991
  • May 20, 2012 6:10pm May 20, 2012 6:10pm
Quoting oathbreaker
entered short@ 1.5793 s/l @ 1.5860

no t/p

Have a great day guys...
this is it
  • #313,992
  • May 20, 2012 7:57pm May 20, 2012 7:57pm
Quoting oathbreaker
entered short@ 1.5793 s/l @ 1.5860

no t/p

Have a great day guys...
imho, too early to short.

good luck bro..
  • #313,993
  • May 20, 2012 8:16pm May 20, 2012 8:16pm
Quoting oathbreaker
entered short@ 1.5793 s/l @ 1.5860

no t/p

Have a great day guys...

You have to be careful, you shorted right in a demand zone on the 30 min chart. That's why price went against you almost straight away. Price has also come off a longer term demand zone on the daily. Price may come back if you're lucky, but I'm looking for a break of 58330. This is only my view though.

Good Luck!!
Attached Image (click to enlarge)
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  • #313,994
  • May 20, 2012 8:20pm May 20, 2012 8:20pm
hopefully for this retracement, the price able to get close to 6000 price level.. that would be a good price to reload on short.. imho..
  • #313,995
  • May 20, 2012 8:31pm May 20, 2012 8:31pm
mmm gbpjpy also looks very interesting, agree?
  • #313,996
  • May 20, 2012 8:42pm May 20, 2012 8:42pm
friday high touched, we look for a rejection now..
  • #313,997
  • May 20, 2012 8:44pm May 20, 2012 8:44pm
Quoting tunera
friday high touched, we look for a rejection now..
i think nearest price we can expect for rejection is at about 5900 imho..
  • #313,998
  • May 20, 2012 8:45pm May 20, 2012 8:45pm
Quoting A-speculator
i think nearest price we can expect for rejection is at about 5900 imho..
70pips countertrend are a little bit soo much imo, but let's see what price do..
  • #313,999
  • May 20, 2012 8:46pm May 20, 2012 8:46pm
i'm selling now
  • #314,000
  • May 20, 2012 8:47pm May 20, 2012 8:47pm
Quoting tunera
70pips countertrend are a little bit soo much imo, but let's see what price do..
considering the move from 6300-5730.. even a 200 pips of retracement i think is not too much.. imho.
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