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Cable Update (GBPUSD)

  • #337,621
  • Mar 25, 2013 5:35am Mar 25, 2013 5:35am
First post here, so a big hello to everybody before my two pennies worth. I am only just joined/Junior member, so do not know how long this will take to pass approval and get posted but here we go.

I am short GBPUSD, anticipating a decent correction. I want to be long lower down and will try and count out an 'abc' (or more, if this turns out not to be a correction at all). Two charts attached; Daily & 60 min for big picture/intermediate picture. I trade off a short term 5 min chart and count my own Elliott waves but that is probably a bit much for the first post. Hopefully the legends explain my opening statement and look forward to getting stuck in in due course.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 1.png Size: 60 KB
Click to Enlarge Name: 2.png Size: 72 KB
  • #337,622
  • Mar 25, 2013 5:45am Mar 25, 2013 5:45am
now let's see can price break through 5200.. perhaps breakout retest?
  • #337,623
  • Mar 25, 2013 6:07am Mar 25, 2013 6:07am
The last 1HR candle was not quite what I wanted, but rather close. The way I see it is if we get a break above 1.5215 it should confirm a long bias for the day.

Attached Image (click to enlarge)
Click to Enlarge Name: hmm.jpg Size: 83 KB


Looking at the bigger picture we have a engulfing candle on the weekly (see the posts made by bones a few pages back), we closed above a tough resistance area last week as well which for me confirmed that engulfment and the change of direction until 1.53 - 1.5350 at least.
  • #337,624
  • Mar 25, 2013 7:29am Mar 25, 2013 7:29am
- Good morning
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 27 KB
  • #337,625
  • Mar 25, 2013 7:42am Mar 25, 2013 7:42am
Waiting for PA to break out and close below the fucking 5188 level to sell !
  • #337,626
  • Mar 25, 2013 8:13am Mar 25, 2013 8:13am
Quoting HoangTuan
Waiting for PA to break out and close below the fucking 5188 level to sell !
As high as even the 1H candle has now closed below the 5188 level. Now are YOU gonna sell?
I see Beasts. I drop my scalpel and beckon to theatre nurse: "Charts!&
RubiconFund Return Today: na
  • #337,627
  • Mar 25, 2013 8:19am Mar 25, 2013 8:19am
Quoting surgeon
As high as even the 1H candle has now closed below the 5188 level. Now are YOU gonna sell?
Hi,
Yep I'm in currently
  • #337,628
  • Mar 25, 2013 8:23am Mar 25, 2013 8:23am
ok.. i think i need to see how today will close to try to find the probabilities of further retrace up to retest the 5250s then if through to 5300s. Or, if we are indeed in the head of a H/S pattern and will head down again to find a major support area to bounce off of. i will worry about breaking the 5000s to the south later i guess!

tomorrow news should provide more indications too..

lets see how it plays out..
I still need a trading break soon!!! "Loose some to win more" --Baher A.
  • #337,629
  • Mar 25, 2013 8:31am Mar 25, 2013 8:31am
Quoting HoangTuan
Hi,
Yep I'm in currently
I see Beasts. I drop my scalpel and beckon to theatre nurse: "Charts!&
RubiconFund Return Today: na
  • #337,630
  • Mar 25, 2013 8:35am Mar 25, 2013 8:35am
GBPUSD:
BUY
If the price breaks through the level 1.52603 bullish movement will start. Targets of the bullish movement: 1.53382, 1.54234.
SELL
If the price breaks through the level 151727 bearish movement will start. Targets of the movement: 1.50802, 1.49974.
  • #337,631
  • Mar 25, 2013 8:52am Mar 25, 2013 8:52am
Good bearish engulfing candle on GBP/USD and GPB/JPY, I entered short and quickly realized my mistakes. GBP/USD takes us straight into support and the GBP/JPY only just went through a zone, quickly exited for small loses.
  • #337,632
  • Mar 25, 2013 9:06am Mar 25, 2013 9:06am
Quoting funtik
GBPUSD:
BUY
If the price breaks through the level 1.52603 bullish movement will start. Targets of the bullish movement: 1.53382, 1.54234.
SELL
If the price breaks through the level 151727 bearish movement will start. Targets of the movement: 1.50802, 1.49974.
Well said
  • #337,633
  • Mar 25, 2013 9:15am Mar 25, 2013 9:15am
Quoting blobsaudio
The last 1HR candle was not quite what I wanted, but rather close. The way I see it is if we get a break above 1.5215 it should confirm a long bias for the day.

Attachment

Looking at the bigger picture we have a engulfing candle on the weekly (see the posts made by bones a few pages back), we closed above a tough resistance area last week as well which for me confirmed that engulfment and the change of direction until 1.53 - 1.5350 at least.
Or maybe not
  • #337,634
  • Mar 25, 2013 9:32am Mar 25, 2013 9:32am
PA declined to break out many times with long shadows , holding the short currently , this breakout is going to be large drop .
  • #337,635
  • Mar 25, 2013 9:38am Mar 25, 2013 9:38am
hello everyone I'm new here

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD.JPG Size: 183 KB
"Rule No.1: Never lose money. Rule No.2: Never forget rule No.1." — Warren
  • #337,636
  • Mar 25, 2013 9:45am Mar 25, 2013 9:45am
blasting through 1.517 and that H4 candle is looking like a beast.

Come to papa bear....
Money never sleeps...
  • #337,637
  • Mar 25, 2013 9:46am Mar 25, 2013 9:46am
If the round number at 1.51 cant stop this then we will see 1.50 today
Money never sleeps...
  • #337,638
  • Mar 25, 2013 9:47am Mar 25, 2013 9:47am
Quoting inpatient
Its going to be interesting as always.

Might even go for a sneaky short if we touch 1.525

Just to make it more interesting

Wished i had done this
Money never sleeps...
  • #337,639
  • Mar 25, 2013 9:49am Mar 25, 2013 9:49am
Quoting mr-roma
hello everyone I'm new here

Attachment
and let it ride for the next few weeks too
Money never sleeps...
  • #337,640
  • Mar 25, 2013 10:05am Mar 25, 2013 10:05am
Well done!

It is the time for loading SELLLLL

Quoting funtik
GBPUSD:
BUY
If the price breaks through the level 1.52603 bullish movement will start. Targets of the bullish movement: 1.53382, 1.54234.
SELL
If the price breaks through the level 151727 bearish movement will start. Targets of the movement: 1.50802, 1.49974.
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