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Cable Update (GBPUSD)

  • #329,881
  • Nov 15, 2012 5:19am Nov 15, 2012 5:19am
Personally waiting for this area as shown in pic. still pending long from 5835..
Attached Image (click to enlarge)
Click to Enlarge Name: gu5.gif Size: 26 KB
  • #329,882
  • Nov 15, 2012 5:22am Nov 15, 2012 5:22am
LH will confirm fake breake.

sell after LH

after fake break up direction down...
Attached Image
  • #329,883
  • Nov 15, 2012 5:25am Nov 15, 2012 5:25am
Quoting Doji Star
I agree with EU. walkman, your GU chart setup looks like a bearish flag, so an entry would be upon a break lower, right?
sell from H1 TL
or here
setup sell
http://www.forexfactory.com/showthre...11#post6198011
  • #329,884
  • Nov 15, 2012 5:26am Nov 15, 2012 5:26am
Quoting ZizoFX
Nice chart bro. Gave me a different view on cable. You are assuming the current monthly bearish candle is a retrace of 1.52673 low to the 1.63083 high if i'm right. Well we hit the rising trend-line at 1.58222 and could possibly see a break of the said high. Like you said only if the 1.5830 area holds. If not then we are going deep down. Thanks again

GL
yes pretty much..main thing is the bear candle previous (1.52673 low to the 1.63083 high) failed!!! and that candle was huge this will give bulls motivation..this is why we are static..but weekly is in bear territory hence why i think we are practically not going to move
  • #329,885
  • Nov 15, 2012 5:31am Nov 15, 2012 5:31am
Quoting walkman
LH will confirm fake breake.

sell after LH

after fake break up direction down...
i would say eu and gu LH
sell
  • #329,886
  • Nov 15, 2012 5:35am Nov 15, 2012 5:35am
Since the start of the GFC, there has been only 1 occassion (October 2009) when a weekly candle has "closed" within this Fib trading zone from a weekly swing high and has not continued down to the 5660 area.

On the 5 other occassions, it has simply followed thru...
Attached Image (click to enlarge)
Click to Enlarge Name: christmas trade2639if.gif Size: 19 KB
Come with me if you want to live....
  • #329,887
  • Nov 15, 2012 5:41am Nov 15, 2012 5:41am
Quoting Ill-b-back
Since the start of the GFC, there has been only 1 occassion (October 2009) when a weekly candle has "closed" within this Fib trading zone from a weekly swing high and has not continued down to the 5660 area.

On the 5 other occassions, it has simply followed thru...

on your chart the 50 fib was a previous breakout to the upside and there tones of traffic..not saying it wont go down, but i doubt it!!..anyways we just speculating
  • #329,888
  • Nov 15, 2012 5:50am Nov 15, 2012 5:50am
Quoting nAVIN2007
yes pretty much..main thing is the bear candle previous (1.52673 low to the 1.63083 high) failed!!! and that candle was huge this will give bulls motivation..this is why we are static..but weekly is in bear territory hence why i think we are practically not going to move
I think 1.5780 will be the final straw that's only if we get there. Waiting to move my SL to 1.5830. A daily bullish close today will give some hope for longs.
Numbers NEVER Lie
  • #329,889
  • Nov 15, 2012 5:53am Nov 15, 2012 5:53am
Quoting nAVIN2007
on your chart the 50 fib was a previous breakout to the upside and there tones of traffic..not saying it wont go down, but i doubt it!!..anyways we just speculating
yes I played the breakout on the way up, I'm just playing the percentages and will take a reversal signal if I get it, but I doubt very much we will retrace significantly (beyond 59 area) before reaching this 50 fib.

Why on earth should it retrace to 61 from here???
Come with me if you want to live....
  • #329,890
  • Nov 15, 2012 5:55am Nov 15, 2012 5:55am
Quoting Ill-b-back
yes I played the breakout on the way up, I'm just playing the percentages and will take a reversal signal if I get it, but I doubt very much we will retrace significantly (beyond 59 area) before reaching this 50 fib.

Why on earth should it retrace to 61 from here???
I'm hearing this talk about 5830 reversal, why should this be so??
Come with me if you want to live....
  • #329,891
  • Nov 15, 2012 6:01am Nov 15, 2012 6:01am
This is a very lazy channel with a clear break below support (now resistance) and no sign of a significant bullish pattern (even the 1 hour looks shit).
Attached Image(s) (click to enlarge)
Click to Enlarge Name: christmas trade2639if.gif Size: 15 KB
Click to Enlarge Name: christmas trade2640if.gif Size: 13 KB
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  • #329,892
  • Nov 15, 2012 6:05am Nov 15, 2012 6:05am
Quoting nAVIN2007
on your chart the 50 fib was a previous breakout to the upside and there tones of traffic..not saying it wont go down, but i doubt it!!..anyways we just speculating
Sorry for getting a little worked up nAV, I just haven't been able to make heads or tails out of the bullish calls this month, it's been doing my head in
Come with me if you want to live....
  • #329,893
  • Nov 15, 2012 6:06am Nov 15, 2012 6:06am
Quoting Ill-b-back
This is a very lazy channel with a clear break below support (now resistance) and no sign of a significant bullish pattern (even the 1 hour looks shit).

my sell target is 1.5738 saw this 2 days back.
Correlated Technical Analyst CTA
  • #329,894
  • Nov 15, 2012 6:10am Nov 15, 2012 6:10am
Quoting Ill-b-back
Why on earth should it retrace to 61 from here???

why not?
  • #329,895
  • Nov 15, 2012 6:14am Nov 15, 2012 6:14am
Quoting nAVIN2007
why not?
1. because it's 250 pips away.

2. You said yourself the 50 fib is the breakout area

3. This is where the significant resistance turned support is.

4. We are smack in the middle of the 38.2 fib and 50 fib.

5. The 38.2 fib is an obvious highlighted area of support now resistance.
Come with me if you want to live....
  • #329,896
  • Nov 15, 2012 6:17am Nov 15, 2012 6:17am
Quoting Ill-b-back
1. because it's 250 pips away.

2. You said yourself the 50 fib is the breakout area

3. This is where the significant resistance turned support is.

4. We are smack in the middle of the 38.2 fib and 50 fib.

5. The 38.2 fib is an obvious highlighted area of support now resistance.
I need to get off the weed and back onto my meds I think, because I am totally lost on this one.
Come with me if you want to live....
  • #329,897
  • Edited 6:38am Nov 15, 2012 6:19am | Edited 6:38am
Quoting Ill-b-back
because it's 250 pips away.

1. You said yourself the 50 fib is the breakout area (yes break to the top side)
2. This is where the significant resistance turned support is. (yes support is base to go up)

3. We are smack in the middle of the 38.2 fib and 50 fib.

4. The 38.2 fib is an obvious highlighted area of support now resistance.
anyway remember 1.61

be lucky..i actually care dont if it breaks lower..nothing is set in stone
  • #329,898
  • Nov 15, 2012 6:21am Nov 15, 2012 6:21am
Not looking crash hot...

I really don't mean to have a go at anyone, but I have not heard what I would consider a valid technical reason for a reversal from here that's all.
Attached Image (click to enlarge)
Click to Enlarge Name: christmas trade2640if.gif Size: 13 KB
Come with me if you want to live....
  • #329,899
  • Nov 15, 2012 6:21am Nov 15, 2012 6:21am
Quoting Ill-b-back
I need to get off the weed and back onto my meds I think, because I am totally lost on this one.
Stay on the weed. Your logic and historical analogy is superb.
  • #329,900
  • Nov 15, 2012 6:23am Nov 15, 2012 6:23am
Quoting nAVIN2007
anyway remember 1.61

be lucky..i actually dont if it breaks lower..nothing is set in stone
Nav, so why reverse FROM HERE!!!!!

The 50 fib is at 5790 or so.

Your own RED INK points to this spot (5790).

Why 5830 so important??

I am totally confused bro
Come with me if you want to live....
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