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Cable Update (GBPUSD)

  • #342,381
  • Jun 6, 2013 5:27pm Jun 6, 2013 5:27pm
Quoting nAVIN2007
{quote} there something going on here??? its travelled all the way and showing reluctance to go lower?? ..interesting pa {image}
Strong support bro
Ghost Rider - WWTBMD?
  • #342,382
  • Jun 6, 2013 5:28pm Jun 6, 2013 5:28pm
yea I guess ,until we take res on gbp lfx
bullish usd def


Quoting iNSIELD
{quote} Bones are u still bearish GBP?
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #342,383
  • Jun 6, 2013 5:29pm Jun 6, 2013 5:29pm
yea thats it

Quoting Ill-b-back
{quote} This one {image}
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #342,384
  • Jun 6, 2013 5:40pm Jun 6, 2013 5:40pm
Quoting nAVIN2007
{quote} there something going on here??? its travelled all the way and showing reluctance to go lower?? ..interesting pa {image}
This chart colour makes my eyes hurt
Come with me if you want to live....
  • #342,385
  • Jun 6, 2013 5:44pm Jun 6, 2013 5:44pm
Quoting Ill-b-back
{quote} This chart colour makes my eyes hurt
And I thought it was just me....lol
Ghost Rider - WWTBMD?
  • #342,386
  • Jun 6, 2013 5:45pm Jun 6, 2013 5:45pm
Quoting albchr
{quote} And I thought it was just me....lol

me as well
  • #342,387
  • Jun 6, 2013 5:52pm Jun 6, 2013 5:52pm
Let's see where the week finishes.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpusdh4.png Size: 33 KB
Click to Enlarge Name: gbpusdh41.png Size: 32 KB
Click to Enlarge Name: gbpusddaily1.png Size: 34 KB
Come with me if you want to live....
  • #342,388
  • Jun 6, 2013 5:59pm Jun 6, 2013 5:59pm
Quoting iNSIELD
boy dosent this have the feel to when it was at 1.63 spiked like 80 pips above that level ending up having a daily close below it everyone said its going to 1.7 only to fall 1500 pips really interesting stuff

Not really.
The bearish reaction today does not resemble the reaction back then.
Come with me if you want to live....
  • #342,389
  • Jun 6, 2013 6:18pm Jun 6, 2013 6:18pm
Quoting Ill-b-back
{quote} Not really. The bearish reaction today does not resemble the reaction back then.
I'm not sure I follow u I'll be back. You have a huge wick which failed to close over key resistance. How is it not similar?
  • #342,390
  • Jun 6, 2013 6:29pm Jun 6, 2013 6:29pm
Quoting iNSIELD
{quote} I'm not sure I follow u I'll be back. You have a huge wick which failed to close over key resistance. How is it not similar?
I know this was meant for you IBB but... I wouldn't say "huge" wick iNSIELD. Rather modest at this point. I have roughly 30 minutes for this daily to close and I'll be happy if it closes below 5605 (50%). The lower the better of course but we'll see.

I still hold my bearish tone as it's with the trend, the 200sma resistance, the dollar and pound indexes, but the truth is, this could go either way yet. This has been an impressive bull week but the month has a ways to go.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusddaily.png Size: 35 KB
Ghost Rider - WWTBMD?
  • #342,391
  • Jun 6, 2013 6:33pm Jun 6, 2013 6:33pm
Quoting albchr
{quote} I know this was meant for you IBB but... I wouldn't say "huge" wick iNSIELD. Rather modest at this point. I have roughly 30 minutes for this daily to close and I'll be happy if it closes below 5605 (50%). The lower the better of course but we'll see. I still hold my bearish tone as it's with the trend, the 200sma resistance, the dollar and pound indexes, but the truth is, this could go either way yet. This has been an impressive bull week but the month has a ways to go. {image}
80 pips isn't a huge wick?
  • #342,392
  • Jun 6, 2013 6:38pm Jun 6, 2013 6:38pm
Quoting iNSIELD
{quote} I'm not sure I follow u I'll be back. You have a huge wick which failed to close over key resistance. How is it not similar?
If we zoom out a bit on the same daily chart we can see the big difference between todays daily bar, and the "pin" off the 6300 area. First, the shape of that pin. That's a huge wick that extended well above resistance and then closed well below (51 pips) the round 6300 number at 6249. Location and pin shape was everything there. You can easily see today's bar is nothing like that. However, if it closes below the 50% with even that much wick, it may be a good sign for my shorts...lol
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusddaily.png Size: 44 KB
Ghost Rider - WWTBMD?
  • #342,393
  • Jun 6, 2013 6:39pm Jun 6, 2013 6:39pm
Quoting iNSIELD
{quote} 80 pips isn't a huge wick?
Not in the scheme of the "overall" bar. Read above post and I hope it helps. At least it's the way I see it. For me, a meaningful wick is at least 50% of the bar.
Ghost Rider - WWTBMD?
  • #342,394
  • Jun 6, 2013 6:43pm Jun 6, 2013 6:43pm
Quoting iNSIELD
{quote} I'm not sure I follow u I'll be back. You have a huge wick which failed to close over key resistance. How is it not similar?
Aside from the obvious variation in candle structure, can you spot the difference?

Wicks also significantly different lengths.

We have also closed into the supply candle to the far left, but I agree, work to be done to move higher.
However, I would not say momentum is fading at this point. More like profit taking.
The candle in the other chart shows clear selling pressure.

But like I said, the week has not closed yet.

I have no open trades so no unfounded bias.

Just watching PA, TL's etc.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpusddaily.png Size: 32 KB
Click to Enlarge Name: gbpusddaily2.png Size: 32 KB
Come with me if you want to live....
  • #342,395
  • Jun 6, 2013 6:50pm Jun 6, 2013 6:50pm
Quoting albchr
{quote} I know this was meant for you IBB but... I wouldn't say "huge" wick iNSIELD. Rather modest at this point. I have roughly 30 minutes for this daily to close and I'll be happy if it closes below 5605 (50%). The lower the better of course but we'll see. I still hold my bearish tone as it's with the trend, the 200sma resistance, the dollar and pound indexes, but the truth is, this could go either way yet. This has been an impressive bull week but the month has a ways to go. {image}

there is only one reason i have sold this mofo..and that is because i think the mofo is formed/forming first half of a broadening triangle. If this is correct we could see 1.5 again..its definately broadening so it can go either way..

if this formation wasnt there..this is not bearish i feel
28 april bear weekly needs to hold true
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdweekly.png Size: 74 KB
  • #342,396
  • Jun 6, 2013 6:54pm Jun 6, 2013 6:54pm
Quoting albchr
{quote} Currently at 5800 but I may give her more room to breath if need be. This pump is just that in my opinion and if I'm wrong, I'm wrong. All part of the game. That said, this 4H is the one I'm interested in. Closes in about 3 hours for me. {image}
Back here I was looking at the 4H close and hoping it would be a pin. As we can see, it is a pin but weak as it's close was not what I wanted to see. A red close within the body of the previous bar would have been really nice. Doesn't mean it won't go down but it's not as sure a thing as I'd hoped. It did close below the 50% but by only 3 pips...lol
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdh4.png Size: 34 KB
Ghost Rider - WWTBMD?
  • #342,397
  • Jun 6, 2013 6:56pm Jun 6, 2013 6:56pm
Quoting nAVIN2007
{quote} there is only one reason i have sold this mofo..and that is because i think the mofo is formed/forming first half of a broadening triangle. If this is correct we could see 1.5 again..its definately broadening so it can go either way.. if this formation wasnt there..this is not bearish i feel 28 april bear weekly needs to hold true {image}
Agree
Ghost Rider - WWTBMD?
  • #342,398
  • Jun 6, 2013 7:01pm Jun 6, 2013 7:01pm
Quoting albchr
{quote} Agree
we looking for a diamond now..then if it break north it might actually go to my target assuming this will be complicated which we have assume it will be

so far it hasnt made a new high ..always good
  • #342,399
  • Jun 6, 2013 7:03pm Jun 6, 2013 7:03pm
LOL....gold, cash "diamonds", I'll take em all thanks!
Ghost Rider - WWTBMD?
  • #342,400
  • Jun 6, 2013 7:04pm Jun 6, 2013 7:04pm
Quoting albchr
LOL....gold, cash "diamonds", I'll take em all thanks!

1.51 if this trade is still alive for meh
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