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Cable Update (GBPUSD)

  • #349,281
  • Oct 17, 2013 5:10pm Oct 17, 2013 5:10pm
Would a trend line from end of April 2011 joining end of December 2012 on the daily intersecting with the line of the point of the 78.6% fib retracement (161784) of the last high on 2 Oct be of any relevance?. I notice that the recent high could be the top, or nearly, of wave 2 in a 5 wave down in a situation where the is negative momentum divergence
  • #349,282
  • Oct 17, 2013 5:57pm Oct 17, 2013 5:57pm
GU completed wave 4 and has started wave 5 today. I expect it will create a new high after having some retrace .

Attached Image (click to enlarge)
Click to Enlarge Name: GU daily.png Size: 43 KB


Also can see ending diagonal in USD index. So soon USD bulls will attack and a free fall of GU will be started.


Attached Image
Never test the depth of water with both feet.
  • #349,283
  • Oct 17, 2013 7:03pm Oct 17, 2013 7:03pm
I hope I don't miss the down move again, but I'm going to wait until next week to short. I'd hate to buy in short and then have it gap up on me while the markets are closed.

Assuming we are still up in this range, anyone have a good price point to enter at? I was thinking 1.61860.
  • #349,284
  • Oct 17, 2013 8:20pm Oct 17, 2013 8:20pm
Anyone can tell me when is the Qe4 is coming?
  • #349,285
  • Edited 10:03pm Oct 17, 2013 9:04pm | Edited 10:03pm
Quoting fxlover11
GU completed wave 4 and has started wave 5 today. I expect it will create a new high after having some retrace . {image} Also can see ending diagonal in USD index. So soon USD bulls will attack and a free fall of GU will be started. {image}
You contradict yourself big time.
A new high for GU could take days, and dollar bulls + GU free fall could start today.
New voice message: Why are you calling me? If I need you, I'll call you!
  • #349,286
  • Oct 17, 2013 9:09pm Oct 17, 2013 9:09pm
its bearish.. just enter short then forget about it for 3 weeks. here's my noob chart. and here's for UJ pending
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpusddaily.png Size: 44 KB
Click to Enlarge Name: usdjpydaily.png Size: 32 KB
Pecuniae obediunt omnia
  • #349,287
  • Oct 17, 2013 10:06pm Oct 17, 2013 10:06pm
Quoting PIPot
its bearish.. just enter short then forget about it for 3 weeks. here's my noob chart. and here's for UJ pending {image} {image}
You're absolutely right, that's definitely a noob chart for GU
New voice message: Why are you calling me? If I need you, I'll call you!
  • #349,288
  • Oct 17, 2013 10:31pm Oct 17, 2013 10:31pm
Today is Friday, I'm afraid the market will continue to survive in the up position ....
  • #349,289
  • Oct 17, 2013 10:46pm Oct 17, 2013 10:46pm
Quoting sepuluh
Today is Friday, I'm afraid the market will continue to survive in the up position ....
The H4 is resting and the H1 is topping, might not be that much action today................
The More You Learn, The More You Earn.....
  • #349,290
  • Oct 17, 2013 11:04pm Oct 17, 2013 11:04pm
Quoting forexalien
{quote} The H4 is resting and the H1 is topping, might not be that much action today................

Yes I Hope So...
but i'm Afraid Next Target G/U Today is..... :
Attached Image (click to enlarge)
Click to Enlarge Name: fx44.GIF Size: 16 KB
  • #349,291
  • Oct 17, 2013 11:20pm Oct 17, 2013 11:20pm
Quoting polbanda
LAST HOPE FOR BEARS Last bastion for Cable to short = bounce off the trendline on RSI. Waiting for STOCH to be oversold and then (if) new uptrend (can see on Moving Averages) will still exist buy more and more of GBP. Expecting bounce from trendline on RSI to around 50 level (can see on chart) and then go long. Good night. ...and remember... TREND IS OUR FRIEND {image}
still playing in no man's land/consolidation without any trend , last leg down for UP or last leg up for DOWN both makes no sense as no trend areas,BIG only ranging thought it's birth, medium still down trend , immediate up in a down fashion still .
anyway break 6260 first like eu done yesterday 3645 breaks but no,these lines were not bull target , were eu 3711 & gu 6381 min & even they go & break next swing down will again back/ correct down to UP to continue with with great fear also as last leg up for great down may trigger.All condition short term bear scalping should be safest.


anyway in these situation , scalping need no trend , any can do at any time & do not marry a trend while in no man's land/as corrective phase has no trend , no waves ,no formulae & can be any complex!!
play safe just with any market activity.
Thanks . fontu
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpusddaily.png Size: 35 KB
Click to Enlarge Name: gbpusdweekly.png Size: 43 KB
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #349,292
  • Oct 17, 2013 11:24pm Oct 17, 2013 11:24pm
Wait till the 1H complete the ABC cycle before it go up again.
Face both Win and Lose bravely
  • #349,293
  • Oct 17, 2013 11:28pm Oct 17, 2013 11:28pm
Should break 1.6259 today if 1H's ABC complete early.
Face both Win and Lose bravely
  • #349,294
  • Oct 17, 2013 11:57pm Oct 17, 2013 11:57pm
The 4H low should appear in the next candle. Just wait, watch and catch. Should be around 1.6071
Face both Win and Lose bravely
  • #349,295
  • Edited 12:21am Oct 18, 2013 12:08am | Edited 12:21am
this time ... no more promo and discount "best seller"...
market is up and up killer like a cowboy...dor dor !
  • #349,296
  • Oct 18, 2013 12:14am Oct 18, 2013 12:14am
Quoting fontu
{quote} still playing in no man's land/consolidation without any trend , last leg down for UP or last leg up for DOWN both makes no sense as no trend areas,BIG only ranging thought it's birth, medium still down trend , immediate up in a down fashion still . anyway break 6260 first like eu done yesterday 3645 breaks but no,these lines were not bull target , were eu 3711 & gu 6381 min & even they go & break next swing down will again back/ correct down to UP to continue with with great fear also as last leg up for great down may trigger.All condition...

Your charting does aid in my decision at times.
  • #349,297
  • Oct 18, 2013 12:17am Oct 18, 2013 12:17am
in smaller tf for scalpers only. wait for at least 6142 breaks down for down .
fontu
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpusdm5.png Size: 37 KB
Click to Enlarge Name: gbpusdm15.png Size: 40 KB
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #349,298
  • Oct 18, 2013 12:32am Oct 18, 2013 12:32am
Quoting KillerWhale
{quote} You contradict yourself big time. A new high for GU could take days, and dollar bulls + GU free fall could start today.
Thanks for your valuable comment. I have posted what I can see. Imo it will not take much time to create a new high for GU. We will see it in next week imo. Also
the ending diagonal is not going to complete today. It will rise again for some retrace and then will fall to complete the diagonal. So we may see the turning point in next week or within two week.
Never test the depth of water with both feet.
  • #349,299
  • Oct 18, 2013 1:07am Oct 18, 2013 1:07am
I seldom participate in forum discussion, due to I have many charts to watch/analyst/make decision and will be tied with keep updating the forum.
Hope that my advices benefit you all.
Face both Win and Lose bravely
  • #349,300
  • Oct 18, 2013 1:08am Oct 18, 2013 1:08am
Ups....market began to slip up again....
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