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Cable Update (GBPUSD)

  • #316,181
  • Jun 13, 2012 7:45am Jun 13, 2012 7:45am
why everybody is shorting GU ? it's uptrend now...
  • #316,182
  • Jun 13, 2012 7:51am Jun 13, 2012 7:51am
Choppy +1 pip woohoo!
  • #316,183
  • Jun 13, 2012 7:53am Jun 13, 2012 7:53am
Quoting Tnfx
Choppy +1 pip woohoo!
Good day to you,

+1 is good - sometimes. It's not a loss.

Regards
  • #316,184
  • Jun 13, 2012 7:53am Jun 13, 2012 7:53am
Quoting ijan112
why everybody is shorting GU ? it's uptrend now...

on what time frame (s) are you see-ing an uptrend ? How are you determining this ?

Thanks

G/L
ex member
  • #316,185
  • Jun 13, 2012 7:56am Jun 13, 2012 7:56am
Quoting bbmac
on what time frame (s) are you see-ing an uptrend ? How are you determining this ?

Thanks

G/L
based on my ZIG ZAG and parabolic SARS indicators @ D1 timeframe..
  • #316,186
  • Jun 13, 2012 7:57am Jun 13, 2012 7:57am
Quoting ijan112
why everybody is shorting GU ? it's uptrend now...
On what time frame are u watching it...triple top on 4h time frame...with strong down candle...price is below open price of today's daily candle....
I am a hunter...i kill both bulls and bears...
  • #316,187
  • Jun 13, 2012 8:03am Jun 13, 2012 8:03am
Quoting oathbreaker
On what time frame are u watching it...triple top on 4h time frame...with strong down candle...price is below open price of today's daily candle....
and this is where I am at home...

All the best to you

Regards
  • #316,188
  • Jun 13, 2012 8:04am Jun 13, 2012 8:04am
Quoting ijan112
based on my ZIG ZAG and parabolic SARS indicators @ D1 timeframe..
Look at price action on Daily T/f - re overall price action (opa) price has still yet to go above the last LH (Lower High) of it's opa downtrend - which is @ 5599...there is no uptrend buy any measure on this daily t/f...although with 2 x fractal HL's (all be them minor) the downtrend may start to be in some doubt ?)

G/L
ex member
  • #316,189
  • Jun 13, 2012 8:06am Jun 13, 2012 8:06am
re OPA on 1hr there is no classic or general trend up or down it is rangy-bullish at the memoent and this holds tru for 4hr too. 5599-5402 the extent of the recent rangy conditions.

G/L
ex member
  • #316,190
  • Jun 13, 2012 8:09am Jun 13, 2012 8:09am
Quoting bbmac
re OPA on 1hr there is no classic or general trend up or down it is rangy-bullish at the memoent and this holds tru for 4hr too. 5599-5402 the extent of the recent rangy conditions.

G/L
Good day to you,

This is my point. Depending on your personal bais towards the currency. One could argue triple top on 4hr - should one be bearish. ( a valid reasoning) OR one could say higher lows recently on 4hr - should one be bullish. (also a valid reasoning)

Eye of the beholder.

Regards
  • #316,191
  • Jun 13, 2012 8:13am Jun 13, 2012 8:13am
Quoting TauTrader
and this is where I am at home...

All the best to you

Regards
Thanks TauTrader...

Price tried thrice to breach 1.56 in last 2 weeks but failed...so,a strong resistance is formed...And i would love to have position here...If it is a strong resistance then my position will survive..if not i will have small loss....
I am a hunter...i kill both bulls and bears...
  • #316,192
  • Jun 13, 2012 8:17am Jun 13, 2012 8:17am
Quoting oathbreaker
Thanks TauTrader...

Price tried thrice to breach 1.56 in last 2 weeks but failed...so,a strong resistance is formed...And i would love to have position here...If it is a strong resistance then my position will survive..if not i will have small loss....
Good day to you, sir

Do not get me wrong.. Your reasoning is very valid. No problem with that whatsoever. If I was a primary Support/Resistance trader - that would make perfect sense to me.

So - you trade your view. Nothing wrong with your entry.

I wish you all success.

Regards to you
  • #316,193
  • Jun 13, 2012 8:20am Jun 13, 2012 8:20am
Weekly looks bearish to me 1.56 is the key.
Attached Image (click to enlarge)
Click to Enlarge Name: w1.gif Size: 23 KB
  • #316,194
  • Jun 13, 2012 8:21am Jun 13, 2012 8:21am
Quoting TauTrader
Good day to you, sir

Do not get me wrong.. Your reasoning is very valid. No problem with that whatsoever. If I was a primary Support/Resistance trader - that would make perfect sense to me.

So - you trade your view. Nothing wrong with your entry.

I wish you all success.

Regards to you
Thanks and wish you the same sir....
I am a hunter...i kill both bulls and bears...
  • #316,195
  • Jun 13, 2012 8:21am Jun 13, 2012 8:21am
so we have that monthly/weekly support down to 5432 - 5 attempts to go lower than here in recent months and failed. Now we have this Daily/4hrt/1hr resistance to 5599 - 4 recent attempts now to move higher than this including today's assault on the zone...which is more likely to give way ?

G/L
ex member
  • #316,196
  • Jun 13, 2012 8:23am Jun 13, 2012 8:23am
Hi Tau

Hope you are well. I agree it's open to interpretation (as TA so often is - not an exact science unfortunately !)...Looking like an ascending wedge thingy on 4hr at the moment with those HL's - and on my 4hr anyway this latest attempt on that 5599 is not yet a factal swing until present 4hr candle closed.

Barring any unforsen fundie news and as long as 5453 4hr swing holds it probably favours an upside break of 5599 at some point but it is probably too close to call ?

G/L

Quoting TauTrader
Good day to you,

This is my point. Depending on your personal bais towards the currency. One could argue triple top on 4hr - should one be bearish. ( a valid reasoning) OR one could say higher lows recently on 4hr - should one be bullish. (also a valid reasoning)

Eye of the beholder.

Regards
ex member
  • #316,197
  • Jun 13, 2012 8:30am Jun 13, 2012 8:30am
not bullish at all

Quoting bbmac
G/M,

5599-5402 the recent 4hr/1hr opa range with a current bullish feel....Daily could see a 3rd fractal HL printed depending on today's candle close...still no H above last LH on that t/f yet - the LH being that 5599 level.

Strongly bullish daily candle yesterday ...will we see some upside follow thru ? Daily Pivot at today's current lo.

G/L
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #316,198
  • Jun 13, 2012 8:31am Jun 13, 2012 8:31am
lol ,i see your point

I call it a shake up ,=confusion ,actually technically ,consolidation


Quoting _BBKing_
i call this the
"massacre pattern"

god knows if i hate it!
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #316,199
  • Jun 13, 2012 8:31am Jun 13, 2012 8:31am
Quoting bbmac
Hi Tau

Hope you are well. I agree it's open to interpretation (as TA so often is - not an exact science unfortunately !)...Looking like an ascending wedge thingy on 4hr at the moment with those HL's - and on my 4hr anyway this latest attempt on that 5599 is not yet a factal swing until present 4hr candle closed.

Barring any unforsen fundie news and as long as 5453 4hr swing holds it probably favours an upside break of 5599 at some point but it is probably too close to call ?

G/L
Good day to you,

I am well - thank you for asking.

Here comes the 4hr candle issue again. I have a current 4hr candle which only started 30 min ago. When does your current 4hr candle close?

Will be interesting to know.

Regards
  • #316,200
  • Jun 13, 2012 8:33am Jun 13, 2012 8:33am
Quoting TauTrader
Good day to you, sir

Nice trades. Well done.

Regards

Thank you

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