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Cable Update (GBPUSD)

  • #331,221
  • Nov 29, 2012 9:38am Nov 29, 2012 9:38am
Quoting fxtyrant
I dunno, this is the chart im looking at, maybe this would help you....

Attachment
Well im looking at AUDUSD and on 5 min theres bullish Divergence but something dont seem right! Take a look!
Trading comes quickly, patience and discipline does not!
  • #331,222
  • Nov 29, 2012 9:38am Nov 29, 2012 9:38am
Quoting TauTrader
good evening - ready to go to bed..

Renko is suggesting that if we reach 1.6020 - we will go 1.6040 and possibly 1.6060. Hull is indicating continuation north if the next renko forms @ 1.6020. Supported by OsMA. Last drop thus ending up a bear trap.

So long scalp once 1.6020 goes. Void if 1.6000 gets killed.

Have a good evening

Regards
Good day,

1.6020 to 1.6040 odd was achieved. Then dropped. Renko still saying 1.6060 may be on the cards.. bought the dip.

Regards
  • #331,223
  • Nov 29, 2012 9:41am Nov 29, 2012 9:41am
Quoting Daddypips
Well im looking at AUDUSD and on 5 min theres bullish Divergence but something dont seem right! Take a look!
Lol learn to ignore that time frame.... a bullish divergence can happen only to have fresh Sellers to ruin it....

also ill tell you something... 61.8% fib retracement lies at 1.0442, guess why we had difficulty going back above it?
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #331,224
  • Nov 29, 2012 9:43am Nov 29, 2012 9:43am
No selling Cable for me until I see a stall at 1.6094. If we don't break that level then might consider short. Still have a day to decide. I see a weekly close at 1.6168. Maybe I'm only dreaming GL
Numbers NEVER Lie
  • #331,225
  • Nov 29, 2012 9:51am Nov 29, 2012 9:51am
Quoting fxtyrant
Lol learn to ignore that time frame.... a bullish divergence can happen only to have fresh Sellers to ruin it....

also ill tell you something... 61.8% fib retracement lies at 1.0442, guess why we had difficulty going back above it?
What time frame do you have that fib on, Daily? Well the bullish divergence got 50 odd pips yesterday on the 5 min!
Trading comes quickly, patience and discipline does not!
  • #331,226
  • Nov 29, 2012 9:59am Nov 29, 2012 9:59am
moved my stop to BE on my long trade and it just took it out.

Im gonna sit out the rest of the week, as this thing is too risky right now.

Best to wait for clearer signals.

Sometimes the most profitable trade is sitting on the sidelines waiting for better setups to occur.
  • #331,227
  • Nov 29, 2012 10:06am Nov 29, 2012 10:06am
Quoting Daddypips
What time frame do you have that fib on, Daily? Well the bullish divergence got 50 odd pips yesterday on the 5 min!
yes that fibo i mentioned is on the Daily... and the fact that we are below it and the recent m5 bullish divergence failed to break is a sign of a possible further drop... im eyeing at 1.0380/1.0400 area
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #331,228
  • Nov 29, 2012 10:12am Nov 29, 2012 10:12am
Quoting fxtyrant
yes that fibo i mentioned is on the Daily... and the fact that we are below it and the recent m5 bullish divergence failed to break is a sign of a possible further drop... im eyeing at 1.0380/1.0400 area

Well its got to get past 1.04227 first but i would say get out at 1.04000 for thats a good demand and the round number!
Trading comes quickly, patience and discipline does not!
  • #331,229
  • Nov 29, 2012 10:20am Nov 29, 2012 10:20am
does the weekly look like a hangman?
  • #331,230
  • Nov 29, 2012 10:39am Nov 29, 2012 10:39am
Quoting TauTrader
Good day,

1.6020 to 1.6040 odd was achieved. Then dropped. Renko still saying 1.6060 may be on the cards.. bought the dip.

Regards
Good day,

Attached a simple chart. Entry not shown as I run the Renko setup on a another broker platform. A few indications here that made me lean towards buying the dip..I do believe the recent high will come under pressure - but will have to wait and see.

All the best
Attached Image (click to enlarge)
Click to Enlarge Name: gurenko.jpg Size: 102 KB
  • #331,231
  • Nov 29, 2012 11:55am Nov 29, 2012 11:55am
Quoting CasperTrader
Ooops! I meant short.
i think 6060 is min tgt for short if any for me or 6140
Wolves don't lose any sleep over the opinion of the sheep.
  • #331,232
  • Nov 29, 2012 12:02pm Nov 29, 2012 12:02pm
Quoting FX Wolf
i think 6060 is min tgt for short if any for me or 6140
Yeah. It's looking like that. I guess I was impulsive again.
  • #331,233
  • Nov 29, 2012 12:08pm Nov 29, 2012 12:08pm
Quoting CasperTrader
Yeah. It's looking like that. I guess I was impulsive again.
in eur$ thread there are muppets getting excited that euro gonna fall like you know ...

lol
Wolves don't lose any sleep over the opinion of the sheep.
  • #331,234
  • Nov 29, 2012 12:09pm Nov 29, 2012 12:09pm
Here is my analytic for today:
Buy and if the price countinue bullish movement than take profit will be: 1.60125
if the price turns against than stop loss will be: 1.59846.

Enjoy guys.
  • #331,235
  • Nov 29, 2012 1:39pm Nov 29, 2012 1:39pm
My target is 1.6113...but im afraid...becouse soon the price will continue the downtrend to 1.55 at least
  • #331,236
  • Nov 29, 2012 1:54pm Nov 29, 2012 1:54pm
Looks like the Monthly honours will be left to Draghi eh??
Come with me if you want to live....
  • #331,237
  • Nov 29, 2012 2:00pm Nov 29, 2012 2:00pm
Quoting Itrade24h
My target is 1.6113...but im afraid...becouse soon the price will continue the downtrend to 1.55 at least
I too have this concern, but not so much a concern but a dream.

All of my techs show a road block at 1.6050.

But then maybe I am dreaming now.

Lost a few more pips yesterday on more impulse trades

If the market doesn't pick a direction soon, I'll be broke by Xmas
Come with me if you want to live....
  • #331,238
  • Nov 29, 2012 2:00pm Nov 29, 2012 2:00pm
Quoting Ill-b-back
Looks like the Monthly honours will be left to Draghi eh??

hey you are back glad to see you super Mario will close the deal )
Loosening is not an option
  • #331,239
  • Nov 29, 2012 2:02pm Nov 29, 2012 2:02pm
Quoting Ill-b-back
I too have this concern, but not so much a concern but a dream.

All of my techs show a road block at 1.6050.

But then maybe I am dreaming now.

Lost a few more pips yesterday on more impulse trades

If the market doesn't pick a direction soon, I'll be broke by Xmas

1.6050 is strong one it tried couple of times to break it but without success, next target is 1.5970 and lover to 1.5920
Loosening is not an option
  • #331,240
  • Nov 29, 2012 2:40pm Nov 29, 2012 2:40pm
Quoting Vilkas
1.6050 is strong one it tried couple of times to break it but without success, next target is 1.5970 and lover to 1.5920
Nice to see you to Vilkas

You may want to correct this, people will talk

Price is not exactly springing north to continue this super rally, but I see something on the very near horizon.

Are we going to teasingly take out last weeks 6050 high tomorrow for a 3rd time this week to 6068 area before the dump??

It sems to be an important area tech wise and price wise on daily and weekly

Greedy Cable...

Ive got to go, cheers.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbp4.gif Size: 19 KB
Click to Enlarge Name: gbp5.gif Size: 21 KB
Click to Enlarge Name: gbp6.gif Size: 15 KB
Come with me if you want to live....
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