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Cable Update (GBPUSD)

  • #349,401
  • Oct 18, 2013 6:48am Oct 18, 2013 6:48am
gbp/usd has formed 3 triple tops at 1.6225 on 15 min chart. technically now if it breaks 1.6165 it will again retest minimum 1.6050
  • #349,402
  • Oct 18, 2013 6:49am Oct 18, 2013 6:49am
Quoting JimmyC
That's nice... http://youtu.be/JddNDtC-Yrs
007
  • #349,403
  • Oct 18, 2013 6:49am Oct 18, 2013 6:49am
Quoting sepuluh
{quote} Yes I Hope So... but i'm Afraid Next Target G/U Today is..... : {image}
Why are you Afraid ? Do you not want it to go that direction?
The More You Learn, The More You Earn.....
  • #349,404
  • Oct 18, 2013 6:55am Oct 18, 2013 6:55am
Quoting forexalien
{quote} Why are you Afraid ? Do you not want it to go that direction?

hahaha.....late for reply my post
no...i just care for seller
  • #349,405
  • Oct 18, 2013 6:58am Oct 18, 2013 6:58am
Like the EURUSD, i am still bullish GBPUSD, technical and fundamentals are aligned, and i think once the 1.6220 is penetrated we will soon be at 1.6350

I can see both pairs now retrace to 1.3660 and 1.6170/50 and then we should (i hope) start to push northwards again.

I am long both pairs 1.3460 and 1.5980

Goof luck to all
Cheers!!
  • #349,406
  • Oct 18, 2013 7:10am Oct 18, 2013 7:10am
Quoting Dracula
I think the current move is forming the fifth wave . It will go up to 1.6315 and then turn back . {image}
This does look to be a real possibility.

Do you have software draw in the EW Count or do you do your own ?
The More You Learn, The More You Earn.....
  • #349,407
  • Oct 18, 2013 7:13am Oct 18, 2013 7:13am
Quoting polbanda
Any questions ? {image}
The distance between AB should = the distance between CD..............IMO
Attached Image
The More You Learn, The More You Earn.....
  • #349,408
  • Oct 18, 2013 7:14am Oct 18, 2013 7:14am
It looks bullish from a different point of view somehow a little cautious about the pair now... maybe possibility of a retrace today?
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdh4.png Size: 30 KB
The market will deceive you. Make your own judgement.
  • #349,409
  • Oct 18, 2013 7:15am Oct 18, 2013 7:15am
Quoting JimmyC
Technical Point of Interest GU 4H When a head & shoulders pattern fails... It is due to a falling wedge... We watched it happen yesterday... G/L {image}
H&S has not failed yet........IMO
The More You Learn, The More You Earn.....
  • #349,410
  • Oct 18, 2013 7:25am Oct 18, 2013 7:25am
Quoting negrada
{quote} I don't know if it sounded obvious from my previous posts, but I am a Mathematician. That chart has a time series of the ratio between longs and shorts daily and hourly, both the number of trades and the lots they have entered into. For a Mathematician addicted to time series analysis and model trading, that is a fantastic piece of info.
Not always , but many times, the Time Element comes into play with testing the top and re-testing the top which creates a H&S pattern. This does not confirm the H&S, but does many times.

The Red on my chart was a projection from 19 days ago. We have this projection in our charts today.

The light blue wave is a smoothed projection of the PA. Looking very much like H&S coming up........................

I believe the Time Element comes into play with the cycle of the different open and closes of markets around the world.......................Alien
Attached Image (click to enlarge)
Click to Enlarge Name: 10_18_13 GU time element.JPG Size: 103 KB
The More You Learn, The More You Earn.....
  • #349,411
  • Oct 18, 2013 7:26am Oct 18, 2013 7:26am
In SHS shoulders should have the same height.
Attached Image (click to enlarge)
Click to Enlarge Name: ScreenShot087.png Size: 324 KB
  • #349,412
  • Oct 18, 2013 7:27am Oct 18, 2013 7:27am
a pin bar through the 4hr through the previous monthly high is a positive thing to see at this junction
  • #349,413
  • Oct 18, 2013 7:27am Oct 18, 2013 7:27am
Quoting JimmyC
Technical Point of Interest GU 4H When a head & shoulders pattern fails... It is due to a falling wedge... We watched it happen yesterday... G/L {image}
I have never seen this kind of thinking before...................I am not saying it is wrong.............
The More You Learn, The More You Earn.....
  • #349,414
  • Oct 18, 2013 7:27am Oct 18, 2013 7:27am
Great bearish divergence up to 1hr at the current daily hi - 5min shown below with the pinbar candle trigger. Fxlive.com etc were talking about offers to 6225 then 6250 if former breeched, earlier... and so they kicked in......some hope for the bears now ?

G/L
Attached Image (click to enlarge)
Click to Enlarge Name: z.jpg Size: 158 KB
ex member
  • #349,415
  • Oct 18, 2013 7:30am Oct 18, 2013 7:30am
Quoting ravenbg
Shorting again.. I do not know what is going on. During Japan session no volume, silence of the lambs. Suddenly couple of hours ago volume starts to show on low TF - this pushed the price up. What are the intentions here I do not get - but it is price manipulation obviously - how long it will go on before it collapses, because it will, this is a bubble up move.
This comes into play when MTF do not line up and this should be a clue to retail traders to not guess the market direction..............
The More You Learn, The More You Earn.....
  • #349,416
  • Oct 18, 2013 7:31am Oct 18, 2013 7:31am
...will be interesting to see how weekly candle closes now.

...so far today 77% of 20 day atr which is currently 106pips) covered by price, and so far this week on last trading day of week 118% of 20 week atr...so far this month 70% of 20 month atr.

G/L
Attached Image (click to enlarge)
Click to Enlarge Name: z.jpg Size: 159 KB
ex member
  • #349,417
  • Oct 18, 2013 7:51am Oct 18, 2013 7:51am
Yeah, that is a nice pin bar on the 4 hr. It is also Friday, so potentially many bulls from the previous run will be liquidating which could potentially
all to bearish momentum.
  • #349,418
  • Oct 18, 2013 7:52am Oct 18, 2013 7:52am
Add*****
  • #349,419
  • Oct 18, 2013 7:53am Oct 18, 2013 7:53am
I am bearish for the time being, the 6200 RN is big.
  • #349,420
  • Oct 18, 2013 7:53am Oct 18, 2013 7:53am
an awesome pin bar on 4hr chart right on the 1.6200
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