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Cable Update (GBPUSD)

  • #342,001
  • May 31, 2013 1:58am May 31, 2013 1:58am
The GBPUSD definitely looks like there's more room for upwards movement. hm.. probably to 1.5300 level?

Today is the last day of the week and month! Here, check it out my analysis at http://alternateforexiew.wordpress.c...eek-and-month/
Knowledge is powerful tool that we can ever have.
  • #342,002
  • May 31, 2013 2:07am May 31, 2013 2:07am
Quoting fontu
{quote} Good thinking like real soldier ! yes bull/correction only for little or some only perhaps , got control breaking 5157, is simply an initial stage but must try for real 5322 breaks and can be sure it will if any power left & show last 9 days in the consolidation . but it reach /break bear power any time for the bear continuation unless 5606 broken for 6000.. hope not that action yet after 5322 , some space can left for top formation to around 5411 , very tough all level reach , even 5322. so targets still go lows . and adding bull certainly...
Yesterday was my trouble with internet connection, so refreshes again & again & not actually it was published & left .
actually levels still active for the correction if possible by any means or fully breaks fpr great down so early!!
fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #342,003
  • May 31, 2013 2:24am May 31, 2013 2:24am
Quoting rikusks
The GBPUSD definitely looks like there's more room for upwards movement. hm.. probably to 1.5300 level? Today is the last day of the week and month! Here, check it out my analysis at http://alternateforexiew.wordpress.c...eek-and-month/

Well done . good analysis .
yes , forget about the monthly close also , so monthly goes here in the chart > down .very fast stoch neutral here but weekly still open downside .
fontu
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdmonthly.png Size: 35 KB
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #342,004
  • May 31, 2013 2:30am May 31, 2013 2:30am
Quoting fontu
{quote} Well done . good analysis . yes , forget about the monthly close also , so monthly goes here in the chart > down .very fast stoch neutral here but weekly still open downside . fontu {image}
Yup, the monthly closing is definitely something we have to look out for. Afterall, on March see saw the GBPUSD hit 1.4800 level, and closed up higher, followed by long bull candle. Yet this month we saw that long bull candle overtaken by bear.
Knowledge is powerful tool that we can ever have.
  • #342,005
  • May 31, 2013 2:31am May 31, 2013 2:31am
We all need to remember the ABC of forex trading. Avoid trading 3 days to the end of the month. The market can be crazy!
  • #342,006
  • May 31, 2013 2:37am May 31, 2013 2:37am
Quoting Ill-b-back
{quote} I was thinking maybe you meant that, I was out on my phone so couldn't check. All the best with your shorts
thank you
  • #342,007
  • May 31, 2013 2:43am May 31, 2013 2:43am
Quoting rikusks
{quote} Yup, the monthly closing is definitely something we have to look out for. Afterall, on March see saw the GBPUSD hit 1.4800 level, and closed up higher, followed by long bull candle. Yet this month we saw that long bull candle overtaken by bear.

ok , in correction still in try so spike up or down at times all ok as correction can be of any complex but if not close monthly exactly 5289-300 or 5163 pressure can down short/long time still .
fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #342,008
  • May 31, 2013 2:47am May 31, 2013 2:47am
Quoting iqyu5an
your entry and target... make sense....... short to broken old strong resistance but tight sl should be prepared coz daily is so bullish ( daily is closed above 50 daily fib ) praying for 50 percent discount there ... *** kirain orang mana... ehhhhhhhhhhh orang merah putih juga... lam kenal mas bray.Salam ... jumatannn jumatannnnn.... {quote}
salam juga
  • #342,009
  • May 31, 2013 2:47am May 31, 2013 2:47am
Trying to analyse cable for long term period, we have harmonic pattern on weekly also appear on daily, the more time frame confirmed the more valid, based on chart, cable has been creating higher and higher low, so the bearish only confirmed when we have the lower low for the next 4th bottom.
So before we get clear lower bottom, my bias for cable for long term is bullish.

In the other side the bear remain still potentially to continue the trend, Why?.... the green line KS (38.2% of fibo-retrace form 1.483x to 1.67xx weekly high on april 2011 ), of ichi was touched / retraced already. but as usual in many harmonic pattern, it is possible for cable to go lower first before comeback for further retrace to 50%, 61.8% or even 100% and more. The other reason, the upper reaction line (yellow) was broke and potentially continuing to lower reaction line and it is hundreds pips under the first reaction line.

Now The last bottom still higher than previous, the sign for bull for comeback in action?....... So lets wait after the first sign of reversal, cable have to break 1.530x area 23.6 Fibo. So my bias for long term is bullish. Hmm... i can see what NAVIN Reason for remain bullish for longer term.

The only problem is how long it we will be in the 100% retrace or even 161.8%, room for upside is wider than downside. But i prefer to trade daily flexible for the direction don't wanna wait so long.......

Good luck everyone......
Attached Image (click to enlarge)
Click to Enlarge Name: Ichi GU Weekly.png Size: 56 KB
  • #342,010
  • May 31, 2013 2:50am May 31, 2013 2:50am
G/M,

strong bullish thrust candle on daily yesterday, upside follow thru on previous day's bullish engulf ...price reached a hi of 5239 - 4 fib cluster between 5228-39 as shown on 4hr below and some selling/pullback from there. month end flows likely at play today. Pullback has reached a previous 1hr swing hi around the daily pivot

G/L
Attached Image (click to enlarge)
Click to Enlarge Name: 4hr.jpg Size: 184 KB
ex member
  • #342,011
  • May 31, 2013 3:14am May 31, 2013 3:14am
If Pivot 1.519 hold then we will see 1.527 or 1.53 today and 1.538-1.542 next week. It is about 200 pips away, my average weekly range. I am not fond of fancy indicators, just simple maths
Make it simple, but not simpler - Einstein
  • #342,012
  • May 31, 2013 3:16am May 31, 2013 3:16am
Quoting Ill-b-back
{quote} An interesting longer term outlook. I have had a similar idea as a point of interest in the back of my mind. A Diamond reversal pattern on the monthly charts. If so, we are in very early stages. Just as a point of interest only and it fits with my own longer term fundy outlook, not that I trade fundies mind you.
In the longer term perpective, I think Wave 5 was completed with the Hi of 2008. The subsequent drop was Wave A. And now we are in the closing phase of Wave B. The upcoming drop to 1.1 would be the final Wace C then. In term of the Fundamentals, I'd see that crash as Aftershock to 2008 Crisis, which will bring our global economy into turmoil, as I see the price of Gold will experience a free fall too.

Be prepared and good luck
Make it simple, but not simpler - Einstein
  • #342,013
  • May 31, 2013 3:27am May 31, 2013 3:27am
Quoting bbmac
G/M, strong bullish thrust candle on daily yesterday, upside follow thru on previous day's bullish engulf ...price reached a hi of 5239 - 4 fib cluster between 5228-39 as shown on 4hr below and some selling/pullback from there. month end flows likely at play today. Pullback has reached a previous 1hr swing hi around the daily pivot G/L {image}
good chart , it's possibly the last chance for the bears , a test of the monthly pivot at 1.5140 and the support 1.5110 is the the key here.

If we stay above this levels , the next month will be for the bulls
  • #342,014
  • May 31, 2013 3:49am May 31, 2013 3:49am
big discount in koala and kiwi ... not sure also almost free of charge............
Quoting iqyu5an
your entry and target... make sense....... short to broken old strong resistance but tight sl should be prepared coz daily is so bullish ( daily is closed above 50 daily fib ) praying for 50 percent discount there ... *** kirain orang mana... ehhhhhhhhhhh orang merah putih juga... lam kenal mas bray.Salam ... jumatannn jumatannnnn.... {quote}
not euphoria follower
  • #342,015
  • May 31, 2013 3:58am May 31, 2013 3:58am
Quoting iqyu5an
clear out at 35 for daily target purpose was met... and found early bearish shark already.... waiting another discount first to joint the market.. c yaaaaa {quote} {image}
yep I see the same levels to test before going up , but I move to 1.53 without testing those levels it's also possible
  • #342,016
  • May 31, 2013 4:07am May 31, 2013 4:07am
Hey guys. Cable short from 1,5222 added in my bag. Green pips to all!
Twitter: MrC_Forex ; Facebook: /pages/MrC-Forex/197693770247397
  • #342,017
  • May 31, 2013 4:11am May 31, 2013 4:11am
Quoting albchr
{quote} dont f***&k with da pound I like this one better. Don't f***ck with the bear! http://www.youtube.com/watch?v=v77um...layer_embedded
i need to put this bear to sleep quick
  • #342,018
  • May 31, 2013 4:16am May 31, 2013 4:16am
Quoting Mr.C
Hey guys. Cable short from 1,5222 added in my bag. Green pips to all!

20 floating - SL to b/e.
Twitter: MrC_Forex ; Facebook: /pages/MrC-Forex/197693770247397
  • #342,019
  • May 31, 2013 4:48am May 31, 2013 4:48am
smaller tf pa on the background of daily /weekly pa .Monthly can be be more positive though .
fontu
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpusddaily.png Size: 32 KB
Click to Enlarge Name: gbpusdm30.png Size: 32 KB
Click to Enlarge Name: gbpusdweekly.png Size: 34 KB
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #342,020
  • May 31, 2013 5:02am May 31, 2013 5:02am
Quoting Mr.C
{quote} 20 floating - SL to b/e.
Some fuss today in my routine trading. Hopefully it is over now: https://www.facebook.com/permalink.php?story_fbid=673021919381244&id=197693770247397 …
Twitter: MrC_Forex ; Facebook: /pages/MrC-Forex/197693770247397
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