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Cable Update (GBPUSD)

  • #323,361
  • Sep 3, 2012 8:56pm Sep 3, 2012 8:56pm
RSI and Stoch starting to look over bought on some of the longer timeframes.
Money never sleeps...
  • #323,362
  • Sep 3, 2012 8:59pm Sep 3, 2012 8:59pm
Quoting zapper
From another perspective, the Daily and H4 charts say that what has to happen has already happened in the form of corrections. Now all will have to bow down for the bulls or at least a good spike to ruin the shorts of the rest of the world.

you know if those candles were the correction/retracement that would signal a failrly impressive push up coming.


ich hoffe nicht,
Money never sleeps...
  • #323,363
  • Sep 3, 2012 9:02pm Sep 3, 2012 9:02pm
still resistance at 1.59 and just above at the 61.8 fib
Money never sleeps...
  • #323,364
  • Sep 3, 2012 9:10pm Sep 3, 2012 9:10pm
Quoting inpatient
you know if those candles were the correction/retracement that would signal a failrly impressive push up coming.


ich hoffe nicht,
Tired of a strong GBP.... If only the price went down as quick and more than as much as it went up, will i hope for a reversal.
  • #323,365
  • Sep 3, 2012 9:27pm Sep 3, 2012 9:27pm
Moody's: Outlook for Australian corporates stable overall
From moodys.com | 18 min ago
not euphoria follower
  • #323,366
  • Sep 3, 2012 10:57pm Sep 3, 2012 10:57pm
Another touch of 1.59x

  • #323,367
  • Sep 3, 2012 11:07pm Sep 3, 2012 11:07pm
PA surprised me.Looks like money is flowing from Asia into Euro and Cable perceived as "safe heaven"
Big shorts on cable and this PA makes me concern.How high before going South?
Looking at the charts there is no real resistance until 6280
Attached Image (click to enlarge)
Click to Enlarge Name: cable set up.gif Size: 16 KB
In trading, you have to be defensive and aggressive at the same time
  • #323,368
  • Sep 3, 2012 11:23pm Sep 3, 2012 11:23pm
Quoting Davit
PA surprised me.Looks like money is flowing from Asia into Euro and Cable perceived as "safe heaven"
Big shorts on cable and this PA makes me concern.How high before going South?
Looking at the charts there is no real resistance until 6280

what do you have as the 61.8 fib?
Money never sleeps...
  • #323,369
  • Sep 3, 2012 11:58pm Sep 3, 2012 11:58pm
Quoting inpatient
what do you have as the 61.8 fib?
5930
Attached Image (click to enlarge)
Click to Enlarge Name: cable set up.gif Size: 16 KB
In trading, you have to be defensive and aggressive at the same time
  • #323,370
  • Sep 4, 2012 12:27am Sep 4, 2012 12:27am
Quoting Davit
5930
That's odd, price hit the 61.8 fib on my broker on the breakout over a week ago.
Come with me if you want to live....
  • #323,371
  • Sep 4, 2012 12:42am Sep 4, 2012 12:42am
Quoting Ill-b-back
That's odd, price hit the 61.8 fib on my broker on the breakout over a week ago.
It depends where you draw them from.As you can see from my chart clearly 61.8 is 5930 unless you draw your lines historical HL which to me is irrelevant in short term.
Lets get real how many times we get 2008 Market crash that PA soars above
2.0 hence I simply avoid it.
I draw my own fibs.Your broker could of used anything.
In trading, you have to be defensive and aggressive at the same time
  • #323,372
  • Sep 4, 2012 12:57am Sep 4, 2012 12:57am
Quoting Davit
It depends where you draw them from.As you can see from my chart clearly 61.8 is 5930 unless you draw your lines historical HL which to me is irrelevant in short term.
Lets get real how many times we get 2008 Market crash that PA soars above
2.0 hence I simply avoid it.
I draw my own fibs.Your broker could of used anything.
My fibs are drawn from the same monthly high/low as yours.
It's in 2nd last page of my journal (link at bottom of post), sorry I am on my phone, not at computer.
Come with me if you want to live....
  • #323,373
  • Sep 4, 2012 1:03am Sep 4, 2012 1:03am
Quoting Ill-b-back
My fibs are drawn from the same monthly high/low as yours.
It's in 2nd last page of my journal (link at bottom of post), sorry I am on my phone, not at computer.
Same as mine
http://www.forexfactory.com/attachme...1&d=1345935511

I don't trust Fib indicators or other sources.Drawing yourself is best also educational.At least that's my approach.I have not found any indi that can accurately draw fib lines.
In trading, you have to be defensive and aggressive at the same time
  • #323,374
  • Sep 4, 2012 1:16am Sep 4, 2012 1:16am
To my friends here
I found this daily indi which draws horizontal lines of daily open.It helps visually to see it.
If you are in East Coast NY time zone input is -7 to sink in with NY close at 5pm. I think its generally excepted that Forex day starts from NY close.
Attached File(s)
File Type: mq4 daily_open_line.mq4   2 KB | 255 downloads
In trading, you have to be defensive and aggressive at the same time
  • #323,375
  • Sep 4, 2012 2:15am Sep 4, 2012 2:15am
Quoting Davit
Same as mine
http://www.forexfactory.com/attachme...1&d=1345935511

I don't trust Fib indicators or other sources.Drawing yourself is best also educational.At least that's my approach.I have not found any indi that can accurately draw fib lines.
I find the mt4 fib tool fairly accurate.
Just need to get the reference points right...
Attached Image (click to enlarge)
Click to Enlarge Name: christmas trade233if.gif Size: 16 KB
Come with me if you want to live....
  • #323,376
  • Sep 4, 2012 2:30am Sep 4, 2012 2:30am
Quoting Ill-b-back
I find the mt4 fib tool fairly accurate.
Just need to get the reference points right...
Attached Images
  • #323,377
  • Sep 4, 2012 2:33am Sep 4, 2012 2:33am
my 61.8 fib is 1.59066, just pierced, seems to be battle around here, lets see if it breaks or retraces
  • #323,378
  • Sep 4, 2012 2:33am Sep 4, 2012 2:33am
weekly printed an indecision formation..last week..this week we have broken the high of last week

direction is up!
  • #323,379
  • Sep 4, 2012 2:34am Sep 4, 2012 2:34am
Quoting gavalar
my 61.8 fib is 1.59066, just pierced, seems to be battle around here, lets see if it breaks or retraces

dont get caught!!..
  • #323,380
  • Sep 4, 2012 2:35am Sep 4, 2012 2:35am
also top tl on ascending h4 channel
Attached Image (click to enlarge)
Click to Enlarge Name: h4gu.gif Size: 36 KB
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