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Cable Update (GBPUSD)

  • #332,481
  • Dec 14, 2012 1:22pm Dec 14, 2012 1:22pm
Quoting ZizoFX
I shared a weekly chart showing a break of a Bullish flag that has been forming. This weeks close will confirm that BUT we are also testing what seems to be a broken trend-line. Let me find the post.

pls, Id like to see it
  • #332,482
  • Dec 14, 2012 1:24pm Dec 14, 2012 1:24pm
Quoting ZizoFX
A broken Bull flag or a retest of broken trendline? The green lines are my major support lines & the red lines may major resistance. 1st resistance breached. Can we test the 2nd before Dec. 31st?

GL
Here you go Alex. If we close above the first Red line, I'll change that to Green and aim for the upper.
Numbers NEVER Lie
  • #332,483
  • Dec 14, 2012 1:26pm Dec 14, 2012 1:26pm
Quoting ZizoFX
Here you go Alex. If we close above the first Red line, I'll change that to Green and aim for the upper.

no attachment
  • #332,484
  • Dec 14, 2012 1:27pm Dec 14, 2012 1:27pm
Quoting alex1976
no attachment
Click on the small icon close to the name in the quote post. It will take you to the page.
Numbers NEVER Lie
  • #332,485
  • Dec 14, 2012 1:38pm Dec 14, 2012 1:38pm
Quoting ZizoFX
Click on the small icon close to the name in the quote post. It will take you to the page.

nice chart. Is that red line around 140?
  • #332,486
  • Dec 14, 2012 1:50pm Dec 14, 2012 1:50pm
Quoting davidfx2012
She needs to be down to 5900 first, imho.
I doubt it. It's just being too hopeful. If not stopped out, I might hold shorts for some retracement. Let's see how the daily closes.
  • #332,487
  • Dec 14, 2012 1:54pm Dec 14, 2012 1:54pm
Quoting alex1976
nice chart. Is that red line around 140?
First Support @ 1.5820

Second Support @ 1.5970

First Resistance @ 1.6140

Second Resistance @ 1.6308

I was looking for a close above 1.6168 since last month but cable has been really slow as its the last month of the year. 1.6230 is gonna be very tough to crack...Will be my next target if we get a close above 1.6168
Numbers NEVER Lie
  • #332,488
  • Dec 14, 2012 4:08pm Dec 14, 2012 4:08pm
Tragic events in Connecticut, U.s...peace be with them at this time.
-----------------------------------------------------------------

A strong move up off 6106 breeching the daily ascending trendline.Cable Daily and Weekly candles close bullishly/as a bullish thrust respectively with 1hr and 4hr restarting/resuming their general opa uptrends (opa=overall price action previous price swing hi/lo analysis,) with Daily remains in a classic opa uptrend -printing a 5th fractal HL and another HH - the 3rd at today''s hi - although no fractal swing created obn this t/f by today's daily candle. Weekly remains rangy-bullish.

Clearly some supply at the top of the previous 4hr/daily/minor weekly swing hi that extends to 6177 (Monthly R1 just above this) with price dipping to 6152 where it found fresh 'buy the dip demand.'

Daily chart below

G/L
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ex member
  • #332,489
  • Dec 14, 2012 9:55pm Dec 14, 2012 9:55pm
Quoting bbmac
Tragic events in Connecticut, U.s...peace be with them at this time.
-----------------------------------------------------------------

A strong move up off 6106 breeching the daily ascending trendline.Cable Daily and Weekly candles close bullishly/as a bullish thrust respectively with 1hr and 4hr restarting/resuming their general opa uptrends (opa=overall price action previous price swing hi/lo analysis,) with Daily remains in a classic opa uptrend -printing a 5th fractal HL and another HH - the 3rd at today''s hi - although no fractal swing created...
Cable daily candles is sloping upwards. Yesterday's closes just below 100% Fibonacci retracement level which is a crital key level.If Monday Cable breakthrough this level, 1.6173, and closes above the upper Bollinger band @ 1.6171 market will be focusing at the 161.8% level at 1.6388. If Cable fail to push then it will face a 50% retracment back to 1.6000
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  • #332,490
  • Dec 15, 2012 9:54am Dec 15, 2012 9:54am
So, there you have it - it is that simple ! To be fair though - it's a scenario (one of many that may or may not play out.) Lol.

Quoting Ezekiel Chew
Cable daily candles is sloping upwards. Yesterday's closes just below 100% Fibonacci retracement level which is a crital key level.If Monday Cable breakthrough this level, 1.6173, and closes above the upper Bollinger band @ 1.6171 market will be focusing at the 161.8% level at 1.6388. If Cable fail to push then it will face a 50% retracment back to 1.6000
ex member
  • #332,491
  • Dec 15, 2012 11:35am Dec 15, 2012 11:35am
I now realize why most people fail at fx.

My best advice is KISS.
  • #332,492
  • Dec 15, 2012 11:46am Dec 15, 2012 11:46am
Nav, u bull for next week based on weekly?
  • #332,493
  • Edited 3:15pm Dec 15, 2012 3:02pm | Edited 3:15pm
Quoting ZizoFX
Nice trading Tao, been watching your moves lately. I like your patience. Have a great weekend. Cheers
Thanks ..It's the only way to ROB a bank .. ( oh , and or Financial Institutions ..) . And don't feel sorry for them , they occasionally rob me too ( still do..lol)

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  • #332,494
  • Dec 15, 2012 3:44pm Dec 15, 2012 3:44pm
scenario,
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The market was bullish, turned bearish, and you'are brokish!!!
  • #332,495
  • Dec 16, 2012 1:28am Dec 16, 2012 1:28am
GBP/USD closed for the week about the 1.6165 monthly resistance.
  • #332,496
  • Dec 16, 2012 8:56am Dec 16, 2012 8:56am
Quoting alex1976
Nav, u bull for next week based on weekly?

im still short looking for an exit plan..but i will hang in there because i think cable will have a tough time trying to make new highs..potentially looking for a retrace new year..retest of 1.6 to get the hell out
  • #332,497
  • Dec 16, 2012 1:53pm Dec 16, 2012 1:53pm
Quoting nAVIN2007
im still short looking for an exit plan..but i will hang in there because i think cable will have a tough time trying to make new highs..potentially looking for a retrace new year..retest of 1.6 to get the hell out
Yeah. I'm "hoping" the same. And "if" it gets to 1.6, my guess is that the moment I close it, it will tank further. Still keeping a SL at 6180 though.
  • #332,498
  • Dec 16, 2012 2:47pm Dec 16, 2012 2:47pm
Quoting taomql4
Thanks ..It's the only way to ROB a bank .. ( oh , and or Financial Institutions ..) . And don't feel sorry for them , they occasionally rob me too ( still do..lol)

http://www.youtube.com/watch?v=h_D3VFfhvs4
Good Work...Wish you green Pips this week too.
Numbers NEVER Lie
  • #332,499
  • Dec 16, 2012 2:51pm Dec 16, 2012 2:51pm
Seems cable touched a high of 1.61830 at about 18:10 UTC today & dropped to a low of 1.61555 but now back to its last week closing price.
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Numbers NEVER Lie
  • #332,500
  • Dec 16, 2012 3:01pm Dec 16, 2012 3:01pm
Quoting ZizoFX
Seems cable touched a high of 1.61830 at about 18:10 UTC today & dropped to a low of 1.61555 but now back to its last week closing price.

My Target @ 1.62XXXX -


Have a Nice Weekend .. Well , what's left of it ..
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