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Cable Update (GBPUSD)

  • #356,181
  • Dec 16, 2013 9:16am Dec 16, 2013 9:16am
No luck
  • #356,182
  • Dec 16, 2013 9:29am Dec 16, 2013 9:29am
I've completed 1 and lost patience with the other going for MickyD's

1H

Attached Image (click to enlarge)
Click to Enlarge Name: GU 1H.png Size: 26 KB


4H

Attached Image (click to enlarge)
Click to Enlarge Name: GU 4H.png Size: 23 KB

pattern failed

closed for now going to wait (till next year) volumes are ultra low. I'll be back for FOMC

G/L
  • #356,183
  • Dec 16, 2013 9:34am Dec 16, 2013 9:34am
Quoting JimmyC
I've completed 1 and lost patience with the other going for MickyD's 1H {image} 4H {image} pattern failed closed for now going to wait (till next year) volumes are ultra low. I'll be back for FOMC G/L

remember one thing there are no absolutes in trading, patterns included
nice charts as usual
  • #356,184
  • Dec 16, 2013 9:37am Dec 16, 2013 9:37am
Anyone knows what Draghi had said?
  • #356,185
  • Dec 16, 2013 9:37am Dec 16, 2013 9:37am
I note the following two scenario's

GU 4H Bar chart

Attached Image (click to enlarge)
Click to Enlarge Name: GU 4H.png Size: 20 KB
  • #356,186
  • Dec 16, 2013 9:38am Dec 16, 2013 9:38am
Quoting nAVIN2007
{quote} remember one thing there are no absolutes in trading, patterns included nice charts as usual
Always with a good word

Thanks Nav!
  • #356,187
  • Dec 16, 2013 9:56am Dec 16, 2013 9:56am
Some interesting notes on EU

Falling wedge, target at resistance but note bearish divergence which will slow the momentum of this move
Simple S&R trade off resistance may have merit I would target the 50 day MA
Attached Image (click to enlarge)
Click to Enlarge Name: EU 4H.png Size: 29 KB

Few other things around for interest.

G/L
  • #356,188
  • Dec 16, 2013 9:59am Dec 16, 2013 9:59am
Yee har!
  • #356,189
  • Dec 16, 2013 10:05am Dec 16, 2013 10:05am
Quoting wasabeclaw
Anyone knows what Draghi had said?
http://www.ecb.europa.eu/press/key/d...131216.en.html
  • #356,190
  • Dec 16, 2013 10:20am Dec 16, 2013 10:20am
I'm scalping long from here. 15 min chart - so looking for a few only.

Regards
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdm15.png Size: 81 KB
  • #356,191
  • Dec 16, 2013 11:47am Dec 16, 2013 11:47am
Quoting Kajos2250
{quote} GU H4 GMT+3 Sl placed to BE 1.6290. If price can close above ~6325 rsistance add one more long. Green pips! {image}
I don't base anything on support and resistance. Hope you made some $$ though.
  • #356,192
  • Dec 16, 2013 12:02pm Dec 16, 2013 12:02pm
Good day,

Tediously slow - was to be expected, I guess. In retrospect, should have taken the 10 or 12 pips on that scalp. Will hold a little longer and see what comes out. Favour the upside still.

regards
  • #356,193
  • Dec 16, 2013 12:17pm Dec 16, 2013 12:17pm
No direction today but good for short term range trading. Still favor the bearish outlook but could go either way.
Attached Image (click to enlarge)
Click to Enlarge Name: Chart_GBP_USD_10 Mins_snapshot.png Size: 43 KB
  • #356,194
  • Dec 16, 2013 12:25pm Dec 16, 2013 12:25pm
Quoting TauTrader
Good day, Tediously slow - was to be expected, I guess. In retrospect, should have taken the 10 or 12 pips on that scalp. Will hold a little longer and see what comes out. Favour the upside still. regards
Closed long scalp here for 10 pips
  • #356,195
  • Dec 16, 2013 2:20pm Dec 16, 2013 2:20pm
I wonder if we will see a lot of sideways trading this week until the Fed Tapers, or not.

I think the forex markets are so expecting a Taper at this point, that the dollar will strengthen if the Fed does taper, but not nearly as much as it will weaken if the Fed doesn't taper.
  • #356,196
  • Dec 16, 2013 3:44pm Dec 16, 2013 3:44pm
Looks like 6235 coming into view soon.
Watching out for any washout spikes above today's high first though.
Come with me if you want to live....
  • #356,197
  • Dec 16, 2013 4:13pm Dec 16, 2013 4:13pm
We have what looks like a shooting star, but during a downtrend it's not called that.

I'd guess the daily candle means continuation to the downside, but not sure what the pattern is called.
  • #356,198
  • Dec 16, 2013 4:22pm Dec 16, 2013 4:22pm
What time frame are you looking at baggi?
  • #356,199
  • Dec 16, 2013 5:10pm Dec 16, 2013 5:10pm
38.2% fib is around 1.6230.

Despite 3 days down... I still don't see a clear long setup.

Going to stay on the sidelines...

GL
  • #356,200
  • Dec 16, 2013 7:50pm Dec 16, 2013 7:50pm
Quoting Rizmeister
What time frame are you looking at baggi?
The hourly, at 22:00.

It's the opposite of a shooting star. A gravestone?

Not sure what it's called.
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