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Cable Update (GBPUSD)

  • #343,101
  • Jun 20, 2013 5:31pm Jun 20, 2013 5:31pm
Long off 1st support got triggered last night

but still lots of work and lots of chop to be done before any result can be seen indeed.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: gbpusdh1.png Size: 37 KB
Click to Enlarge Name: gbpusddaily1.png Size: 40 KB
Click to Enlarge Name: gbpusdweekly.png Size: 42 KB
Come with me if you want to live....
  • #343,102
  • Jun 20, 2013 5:44pm Jun 20, 2013 5:44pm
Update for GU DAily Chart
Attached Image (click to enlarge)
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  • #343,103
  • Jun 20, 2013 5:46pm Jun 20, 2013 5:46pm
Update for GU 1H Chart
Attached Image (click to enlarge)
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  • #343,104
  • Jun 20, 2013 5:57pm Jun 20, 2013 5:57pm
Moving Averages ( Daily Chart )
Attached Image (click to enlarge)
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  • #343,105
  • Jun 20, 2013 6:04pm Jun 20, 2013 6:04pm
looks cute that hammer
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #343,106
  • Jun 20, 2013 6:13pm Jun 20, 2013 6:13pm
If U.S. Resident can able to hedge so nice.
  • #343,107
  • Jun 20, 2013 6:15pm Jun 20, 2013 6:15pm
Quoting Bones
looks cute that hammer
When you say "Hammer" what that mean... short or long?
  • #343,108
  • Jun 20, 2013 6:38pm Jun 20, 2013 6:38pm
Quoting ladylike
Something like that. {image}
Now that almost reached the neck ... well the rest we all know.
  • #343,109
  • Jun 20, 2013 6:48pm Jun 20, 2013 6:48pm
Quoting ladylike
Something like that. {image}
accurate
  • #343,110
  • Jun 20, 2013 7:05pm Jun 20, 2013 7:05pm
looking for 1.56
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdh42.png Size: 36 KB
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  • #343,111
  • Jun 20, 2013 7:09pm Jun 20, 2013 7:09pm
This pair has me very interested right now because Daily is looking good for bulls but weekly looks good for bears. Maybe it will be one of those situations where it rallies shortly then bam that weekly kicks in and down she goes. However even then it is the daily that looks more like the longer term signal and weekly short term strategy. Like look at the huge engulfing weekly candle.
All posts are my personal opinion
  • #343,112
  • Jun 20, 2013 7:22pm Jun 20, 2013 7:22pm
Quoting Rtm
This pair has me very interested right now because Daily is looking good for bulls but weekly looks good for bears. Maybe it will be one of those situations where it rallies shortly then bam that weekly kicks in and down she goes. However even then it is the daily that looks more like the longer term signal and weekly short term strategy. Like look at the huge engulfing weekly candle.
I agree, it's ugly so best trade small size if bullish I think.
Sell off Friday is a big consideration by the looks of it.

But the Wednesday/Thursday retest is intriguing...
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusddaily.png Size: 39 KB
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  • #343,113
  • Jun 20, 2013 7:26pm Jun 20, 2013 7:26pm
Quoting skyhawkps
{quote} When you say "Hammer" what that mean... short or long?
tends to mean that price will move in the opposite direction of the handle (if it were a hammer).

A hammer is bullish an inverse (upside down) hammer is bearish
Money never sleeps...
  • #343,114
  • Jun 20, 2013 8:16pm Jun 20, 2013 8:16pm
Quoting Rtm
This pair has me very interested right now because Daily is looking good for bulls but weekly looks good for bears. Maybe it will be one of those situations where it rallies shortly then bam that weekly kicks in and down she goes. However even then it is the daily that looks more like the longer term signal and weekly short term strategy. Like look at the huge engulfing weekly candle.

You can't ignore this bullish candle on Thursday, and weekly is not closed yet
Make it simple, but not simpler - Einstein
  • #343,115
  • Jun 20, 2013 8:18pm Jun 20, 2013 8:18pm
As Cable has touched my Buy Zone (1.542-1.538) yesterday, I closed my short positions and switched to long. But I expect this pair will go to 1.538 first before going up to 1.593-1.602, maybe today or next week.

For the bulls (and for me ) it is better that the bears try breaking out 1.538 today (Daily S2 is 1.537 and prev monthly pivot 1.538) and then the bulls take over for closing the week above 1.55, or at least closing the day above 1.544. In any case I will add another long positions around my Buy Zone.
Make it simple, but not simpler - Einstein
  • #343,116
  • Jun 20, 2013 8:41pm Jun 20, 2013 8:41pm
Quoting Ri Dwe
As Cable has touched my Buy Zone (1.542-1.538) yesterday, I closed my short positions and switched to long. But I expect this pair will go to 1.538 first before going up to 1.593-1.602, maybe today or next week. For the bulls (and for me ) it is better that the bears try breaking out 1.538 today (Daily S2 is 1.537 and prev monthly pivot 1.538) and then the bulls take over for closing the week above 1.55, or at least closing the day above 1.544. In any case I will add another long positions around my Buy Zone.
$hit I hope not, SL at 5409
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  • #343,117
  • Jun 20, 2013 9:55pm Jun 20, 2013 9:55pm
Quoting Ill-b-back
{quote} $hit I hope not, SL at 5409
Move your SL and add up another long in that area
Make it simple, but not simpler - Einstein
  • #343,118
  • Jun 20, 2013 10:17pm Jun 20, 2013 10:17pm
Quoting Ri Dwe
{quote} You can't ignore this bullish candle on Thursday, and weekly is not closed yet


TRUE
All posts are my personal opinion
  • #343,119
  • Jun 20, 2013 10:18pm Jun 20, 2013 10:18pm
for meh... better next week or month to hold long...

gonna see how weekly candle closing first...

yeahhh q2 candle of course....
Quoting Ri Dwe
{quote} Move your SL and add up another long in that area
not euphoria follower
  • #343,120
  • Jun 20, 2013 10:24pm Jun 20, 2013 10:24pm
Quoting Ri Dwe
{quote} Move your SL and add up another long in that area

I'm pretty sure we won't reverse this bear today and will go back down to the 50 fib at 5380.

I have a S/R break EA running at the moment.

If and when we break down, I'll prob hedge.
Come with me if you want to live....
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