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Cable Update (GBPUSD)

  • #333,761
  • Jan 15, 2013 4:32am Jan 15, 2013 4:32am
Quoting A-speculator
i'm not so sure we're going back above 6100 mate.. i'm also hoping for 6120 for fresh short but seems like the price settling at the lowest resistance level of 6090 area.. opened a position at 6090 area already and might add if price reach 6120, SL would be price just above 6120..
you could be right.
6090-6100 now providing resistance at least in the short term.
let's see how develops... my long position is small and also stoploss@be so i'm safe
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  • #333,762
  • Jan 15, 2013 4:41am Jan 15, 2013 4:41am
Quoting _BBKing_
you could be right.
6090-6100 now providing resistance at least in the short term.
let's see how develops... my long position is small and also stoploss@be so i'm safe
if you don't mind me asking, why are you in bullish mode mate? for me, as long as the price stays below 6300, the cable hasn't prove to be bullish.. this also backed by current formation of the swissy,fiber and candy..

so, the closer the price to be at 6300, there will be more bearish preasure until the area is broken, and price trading sustainably above the said price, then only it can be safely trade in bullish more..

care for sharing your bias?
  • #333,763
  • Jan 15, 2013 4:43am Jan 15, 2013 4:43am
Quoting bbmac
proving a ' tuff nut to crack ' this 6090-6100 level..the lower t/f's look horrible lol !

G/L
Sacrilage!

M1 has actually been a scalpers paradise today with a nice 15 - 20 pip range but will have to break sooner or later!
Attached Image (click to enlarge)
Click to Enlarge Name: gu.gif Size: 35 KB
  • #333,764
  • Jan 15, 2013 4:49am Jan 15, 2013 4:49am
Sold cable, closed partial 1/2 here.

http://i46.tinypic.com/2nkpamr.gif
  • #333,765
  • Jan 15, 2013 5:00am Jan 15, 2013 5:00am
The 1hr hanging man close was 1st clue at that resistance - then the data react pullback and sell off again ...nice plays on the lower t/f's - 5min as below

G/L
Attached Image (click to enlarge)
Click to Enlarge Name: 5min.jpg Size: 84 KB
ex member
  • #333,766
  • Jan 15, 2013 5:03am Jan 15, 2013 5:03am
Quoting A-speculator
if you don't mind me asking, why are you in bullish mode mate? for me, as long as the price stays below 6300, the cable hasn't prove to be bullish.. this also backed by current formation of the swissy,fiber and candy..

so, the closer the price to be at 6300, there will be more bearish preasure until the area is broken, and price trading sustainably above the said price, then only it can be safely trade in bullish more..

care for sharing your bias?
Sometimes just need to think a little differently specs and take into account the bigger picture.

How come with such an obvious bearish (daily) formation last week aren't we just dropping like a stone?

How many times have bears been caught with their pants down the last 12 months by very deceptive (last minute) bullish PA just when least expected?

Why have we not made any new lower swing lows since the GfC drop when the overal global outlook/debt concerns etc have only been getting worse, and now a new higher high on the monthly TF?

I still don't know which way she'll go, my own overall chart analysis is bullish on higher TF which I've posted before.

From what I can see on the monthly TF, we are in an uptrend.

It's what I see on the chart anyway.

This is an interesting month, very odd indeed.
Still compressing on higher TF's I think, this maybe why PA weird.

Off to bed night all...
Come with me if you want to live....
  • #333,767
  • Jan 15, 2013 5:09am Jan 15, 2013 5:09am
Hi all!
My 2 cents:
If Cable can close the 4hr on my chart (in 50 minutes), under 1.60700, I'm short and targetting 1.60200.
Bearish outside bar forming...previous candle was bearish engulfment, clear downtrend on 4hr. Price currently under 200SMA, 100SMA, 45SMA.
R:R = 1:1

Only thing putting me off is 1.6020 is where 4hr and daily support lies. But...then again support is there to be broken.
C.C.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd h4.gif Size: 25 KB
  • #333,768
  • Jan 15, 2013 5:10am Jan 15, 2013 5:10am
Quoting C-12
Sacrilage!

M1 has actually been a scalpers paradise today with a nice 15 - 20 pip range but will have to break sooner or later!
Agreed, both yesterday and today on 15M and below has been a blast on both GU and EU.
Ghost Rider - WWTBMD?
  • #333,769
  • Jan 15, 2013 5:12am Jan 15, 2013 5:12am
Quoting Ill-b-back
From what I can see on the monthly TF, we are in an uptrend.
Mate, by any measure monthly is not in an uptrend !

G/L
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Click to Enlarge Name: mthly.jpg Size: 73 KB
ex member
  • #333,770
  • Jan 15, 2013 5:13am Jan 15, 2013 5:13am
Quoting Ill-b-back
Sometimes just need to think a little differently specs and take into account the bigger picture.

How come with such an obvious bearish formation last week aren't we just dropping like a stone?

How many times have bears been caught with their pants down the last 12 months by very deceptive (last minute) bullish PA just when least expected?

Why have we not made any new lower swing lows since the GfC drop when the overal global outlook/debt concerns etc have only been getting worse, and now a new higher high on the monthly TF?

I still...
make it simple mate, we are in a triangle, and you agree with it, yes? so the top of the triangle is at about 6300, right? we're not breaking it, at least not yet, so no need to be bullish just yet..

i'm not betting in any way the price move mate, may it be bullish or bearish.. but in simple terms, it's a no brainer to short the price as close to 6300 as possible.. until we seen the price trading sustainably above the said price, then only it's safe to long imho..

this also backed by no new lows in swissy, no new lows in candy and no new high in fiber, also no new high in aussie and kiwi..

so i don't understand, if you're bullish, why pull the trigger now? you're looking at higher TF right? it might takes weeks or even month to accomplished that bullish view of yours.. and if you don't mind me asking, say that you're bullish, what is the price you want to take for your position? imho, 5500 is still possible.. might be a better place for long..
  • #333,771
  • Jan 15, 2013 5:21am Jan 15, 2013 5:21am
Quoting bbmac
Mate, by any measure monthly is not in an uptrend !

G/L
Yes I understand bb, I am only looking at swing lows that have gone on to close and continue past the low point candle high ( major swing lows), maybe creating a fractal or something, (at parents place so not at charts sorry).
Come with me if you want to live....
  • #333,772
  • Jan 15, 2013 5:25am Jan 15, 2013 5:25am
Quoting A-speculator
make it simple mate, we are in a triangle, and you agree with it, yes? so the top of the triangle is at about 6300, right? we're not breaking it, at least not yet, so no need to be bullish just yet..

i'm not betting in any way the price move mate, may it be bullish or bearish.. but in simple terms, it's a no brainer to short the price as close to 6300 as possible.. until we seen the price trading sustainably above the said price, then only it's safe to long imho..

this also backed by no new lows in swissy, no new lows in candy and no new...
this goes the same to the bears, it's a no brainer to close some of the position at about 6000 (assuming you're shorting at 6300), if that area support breaks can resume shorting, and have to close all of the position at certain price level (to secure profit), say above 6120 area if price manage to get there and resume shorting after consolidation at about certain price level..
  • #333,773
  • Jan 15, 2013 5:26am Jan 15, 2013 5:26am
Quoting A-speculator
make it simple mate, we are in a triangle, and you agree with it, yes? so the top of the triangle is at about 6300, right? we're not breaking it, at least not yet, so no need to be bullish just yet..

i'm not betting in any way the price move mate, may it be bullish or bearish.. but in simple terms, it's a no brainer to short the price as close to 6300 as possible.. until we seen the price trading sustainably above the said price, then only it's safe to long imho..

this also backed by no new lows in swissy, no new lows in candy and no new...
I'm not pulling the trigger now specs (I said I don't know which way shell go).
BTW, how many posted "no brainer shorts" on this pair just haven't worked in the last year?
Honestly, I lost count.

Some see resistance just above, others see support just below mate.
Come with me if you want to live....
  • #333,774
  • Jan 15, 2013 5:31am Jan 15, 2013 5:31am
Quoting Ill-b-back
I'm not pulling the trigger now specs (I said I don't know which way shell go).
BTW, how many posted "no brainer shorts" on this pair just haven't worked in the last year?
Honestly, I lost count.

Some see resistance just above, others see support just below mate.
my point is, just make it simple, as long as the price stays below/above certain price level, maintain the bias.. the bias doesn't switch daily (your analysis might get impaired by trying to catch both side of the market).. timing is also important as it make up for the price level (the 2 quantity we have in our chart is price & time, right? - entered too early you have to wait a little longer for your position to get green - borrowed from gann as i am a gann student )
  • #333,775
  • Jan 15, 2013 5:34am Jan 15, 2013 5:34am
Quoting bbmac
Mate, by any measure monthly is not in an uptrend !

G/L
Agreed! Monthly is showing a trend less 4-Year symmetrical triangle. Breakout is imminent...

However, during the past year trading GBP/USD should have been a piece of cake if one had just played the range. Buy at support and sell at resistance, doesn't get any easier than that!

Once triangle is broken a new exciting trend should start! I don't care if it's up or down...
  • #333,776
  • Jan 15, 2013 5:37am Jan 15, 2013 5:37am
Quoting A-speculator
if you don't mind me asking, why are you in bullish mode mate? for me, as long as the price stays below 6300, the cable hasn't prove to be bullish.. this also backed by current formation of the swissy,fiber and candy..

so, the closer the price to be at 6300, there will be more bearish preasure until the area is broken, and price trading sustainably above the said price, then only it can be safely trade in bullish more..

care for sharing your bias?
yes no problem, is very simple:
until we are in this area, price can show reasons for longs to target 6180 or even more.
it' a weekly chart so still 4 days left.
i will be looking for good setups in hourly charts which actually is not certainly showing bullish.

seems possible a move near 1.60 again so my long will be probably stopped out.
no matter
was an attempt!
but if price holds this level can still recover the bearish move from 1.63.

update: stopped while typing
Attached Image (click to enlarge)
Click to Enlarge Name: Chart_GBP_USD_Weekly_snapshot.png Size: 18 KB
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  • #333,777
  • Jan 15, 2013 5:41am Jan 15, 2013 5:41am
Quoting Ill-b-back
I'm not pulling the trigger now specs (I said I don't know which way shell go).
BTW, how many posted "no brainer shorts" on this pair just haven't worked in the last year?
Honestly, I lost count.

Some see resistance just above, others see support just below mate.

are u on demo or live trading?
  • #333,778
  • Jan 15, 2013 5:42am Jan 15, 2013 5:42am
Quoting _BBKing_
yes no problem, is very simple:
until we are in this area, price can show reasons for longs to target 6180 or even more.
it' a weekly chart so still 4 days left.
i will be looking for good setups in hourly charts which actually is not certainly showing bullish.

seems possible a move near 1.60 again so my long will be probably stopped out.
no matter
was an attempt!
but if price holds this level can still recover the bearish move from 1.63.

update: stopped while typing
to be honest, i'm looking at a possible breakout of 6000 but i would be very cautious at about there.. due to, you know why right? lol.
  • #333,779
  • Jan 15, 2013 5:45am Jan 15, 2013 5:45am
Quoting 100PipsADay
Agreed! Monthly is showing a trend less 4-Year symmetrical triangle. Breakout is imminent...

However, during the past year trading GBP/USD should have been a piece of cake if one had just played the range. Buy at support and sell at resistance, doesn't get any easier than that!

Once triangle is broken a new exciting trend should start! I don't care if it's up or down...
yes me too no care if up or down!
once the triangle goes..... i will be ready for another triangle to build. lol
90% of traders use TA, indicators and prediction
  • #333,780
  • Jan 15, 2013 5:49am Jan 15, 2013 5:49am
Quoting A-speculator
to be honest, i'm looking at a possible breakout of 6000 but i would be very cautious at about there.. due to, you know why right? lol.

dude if we hit there theres no way back!!..
are u using emas?
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