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Cable Update (GBPUSD)

  • #326,981
  • Oct 16, 2012 9:49am Oct 16, 2012 9:49am
Hey traders. We are approaching a trend line on USDx. EUR/USD climb might be paused for a while. With this PA, if we'll get a solid third approach on that line, I would say that it is only matter of time when it will be broken down.
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Twitter: MrC_Forex ; Facebook: /pages/MrC-Forex/197693770247397
  • #326,982
  • Oct 16, 2012 9:53am Oct 16, 2012 9:53am
Quoting Freshpips
Good work Nav

You see us retesting todays highs or not? I dont think we will, think we drop to around 1.6071/2 maybe a bounce from there but not much...

look on dailly..bear flag the top was the top of the trendline..the height of the pole is what gives a projected target to 1.58..i doubt we will see that area but u never know..

bearish diverence as well driving the trend to reverse..
they are many reasons to support the trade top having potential

draw the flag on dailly post it..if not sure i shall correct it if needed incase u cant see it

the top has just formed..i just hope the bottom break without making a trendline as this can bounce in theory..its also having confluence with a fib..has potential...worth a go
  • #326,983
  • Oct 16, 2012 9:55am Oct 16, 2012 9:55am
Quoting nAVIN2007
look on dailly..bear flag the top was the top of the trendline..the height of the pole is what gives a projected target to 1.58..i doubt we will see that area but u never know..

bearish diverence as well driving the trend to reverse..
they are many reasons to support the trade top having potential

draw the flag on dailly post it..if not sure i shall correct it if needed incase u cant see it

Cheers bro
  • #326,984
  • Oct 16, 2012 10:02am Oct 16, 2012 10:02am
Quoting Mr.C
Hey traders. We are approaching a trend line on USDx. EUR/USD climb might be paused for a while. With this PA, if we'll get a solid third approach on that line, I would say that it is only matter of time when it will be broken down.

thanks bro!!
  • #326,985
  • Oct 16, 2012 10:07am Oct 16, 2012 10:07am
Quoting nAVIN2007
thanks bro!!
No problem Nav. We still need it to be confirmed. Couple pips till the third touch. But I might say that we will get the confirmation soon. Would love to see a bounce after the 3rd approach and then look for decent USD shorts via most pairs. USDx target after the line is broken: 78,60.

Hope everything is cool at your camp.
Twitter: MrC_Forex ; Facebook: /pages/MrC-Forex/197693770247397
  • #326,986
  • Oct 16, 2012 10:12am Oct 16, 2012 10:12am
Mark 13hrs from the recent 1hr close with a vertical line.

Should we enter into that line on a short term downtrend - expect up.
Should we enter into that line on a short term uptrend - expect down.

Just sayin' Will be interesting to watch...

More on the technical front - waiting for confirmation short GU. Nothing at present - so sitting on the side.

Regards
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  • #326,987
  • Oct 16, 2012 10:15am Oct 16, 2012 10:15am
Quoting PoundTrader
he's comming http://www.easyfreesmileys.com/smile...mileys-945.gif
Amazing how i called a top out at 1.6120/30 area??
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #326,988
  • Oct 16, 2012 10:16am Oct 16, 2012 10:16am
Quoting Mr.C
No problem Nav. We still need it to be confirmed. Couple pips till the third touch. But I might say that we will get the confirmation soon. Would love to see a bounce after the 3rd approach and then look for decent USD shorts via most pairs. USDx target after the line is broken: 78,60.

Hope everything is cool at your camp.
i have a different view bro..im actually bullish on the dollar..i make we have had the third touch on weekly and its just consolidating..

will keep an eye on it thou..
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  • #326,989
  • Oct 16, 2012 10:20am Oct 16, 2012 10:20am
Quoting bguguen
Amazing how i called a top out at 1.6120/30 area??
It is... well done.

Could be a retracement too - you know...

Regards
  • #326,990
  • Oct 16, 2012 10:27am Oct 16, 2012 10:27am
Quoting TauTrader
It is... well done.

Could be a retracement too - you know...
Regards
Yes Mr t..u right!!
  • #326,991
  • Oct 16, 2012 10:30am Oct 16, 2012 10:30am
Quoting nAVIN2007
Yes Mr t..u right!!
We are all right, thats why forex is profitable for them bulls and bears
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #326,992
  • Oct 16, 2012 10:33am Oct 16, 2012 10:33am
Quoting nAVIN2007
Yes Mr t..u right!!
Good day to you, Nav-

I do not have short confirmation. That is all.

But then I only scalp for a few...

So - no shorts as yet.

Regards
  • #326,993
  • Oct 16, 2012 10:42am Oct 16, 2012 10:42am
going long seems like the wiser option til .6120
Make pips, not war!
  • #326,994
  • Oct 16, 2012 10:46am Oct 16, 2012 10:46am
Quoting redbeben
6102 and 6080 in play.
 below 6080 same old targets
just don't count it as a signal....I'm in from 6030 from a pending sell but don't like the moves today.
resignations...bleah
merkel ..double bleah
nothing seems right
and I have to stress about the time span of 1.5900 so don't get too cocky with 1.5800 or 1.5900 unless we see a strong rejection up here somewhere
told you that if till last friday we don't see 1.5900 we might head up to 6350 so....just use a SL and stop adding sells over sells every 30 pips up.this will not...
thank you thank you very much
  • #326,995
  • Oct 16, 2012 10:46am Oct 16, 2012 10:46am
Quoting bguguen
We are all right, thats why forex is profitable for them bulls and bears

yes u are right as well ...its the exit which is impt..mr t is right thou..we cannot call a top yet its too damn early and a trader just trades without thinking to much about these things if wrong..who cares right?
  • #326,996
  • Oct 16, 2012 10:47am Oct 16, 2012 10:47am
Quoting nAVIN2007
look on dailly..bear flag the top was the top of the trendline..the height of the pole is what gives a projected target to 1.58..i doubt we will see that area but u never know..

bearish diverence as well driving the trend to reverse..
they are many reasons to support the trade top having potential

draw the flag on dailly post it..if not sure i shall correct it if needed incase u cant see it

the top has just formed..i just hope the bottom break without making a trendline as this can bounce in theory..its also having confluence with a...
you see bears on top of poles ?????? like....impaled bears ? ??? Dracula is alive???
  • #326,997
  • Oct 16, 2012 10:48am Oct 16, 2012 10:48am
Quoting redbeben
thank you thank you very much
red why are u thanking yourself

a ranging market is making us all loopy
  • #326,998
  • Oct 16, 2012 10:48am Oct 16, 2012 10:48am
Quoting redbeben
thank you thank you very much
Hehe

Elvis in da house...
  • #326,999
  • Oct 16, 2012 10:55am Oct 16, 2012 10:55am
Whichever direction you are aiming for - it's gonna be bumpy. No alighnment at present. A bit of a mess.

I wait... with long bias until I get short confirmation...

Regards
  • #327,000
  • Oct 16, 2012 11:01am Oct 16, 2012 11:01am
Quoting nAVIN2007
red why are u thanking yourself

a ranging market is making us all loopy
red writing red writing I'm the king of the range

sold 6130 for 6102 first and last 6080

second tp was 6092 but I removed it as i want 6063 now ...you know,the year my dad was born


so keep an eye on 6080
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