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Cable Update (GBPUSD)

  • #356,881
  • Dec 30, 2013 5:56am Dec 30, 2013 5:56am
Quoting Kajos2250
{quote} LOOL It won't

whyyyyyyyyyyy ?? please don't say like that man
  • #356,882
  • Dec 30, 2013 6:05am Dec 30, 2013 6:05am
Quoting rambo12
{quote} whyyyyyyyyyyy ?? please don't say like that man
Dont worry about me, just my opinion
Anything is math!
  • #356,883
  • Dec 30, 2013 6:07am Dec 30, 2013 6:07am
Every time frame from 1 hour - monthly is bullish

You best hope for good $ housing news at 3pm
  • #356,884
  • Dec 30, 2013 6:09am Dec 30, 2013 6:09am
Quoting rambo12
{quote} whyyyyyyyyyyy ?? please don't say like that man
looking for 1.6505 again to save the day or back to 1.6465 now
  • #356,885
  • Dec 30, 2013 6:10am Dec 30, 2013 6:10am
Quoting Kajos2250
{quote} Dont worry about me, just my opinion

Not like that man ..but any reason for drop ..that ..as per my view technically will hit 81+ ..let's hope for the good data
  • #356,886
  • Dec 30, 2013 6:14am Dec 30, 2013 6:14am
GU H4 GMT+3

Increasing range, increasing volume, bullish pinbar. Nice rejection from WPP at the moment. I am holding all longs and i hope later (close above ~6513) i can add one more.
Close all if close under ~6437...

Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdmicroh4.png Size: 53 KB


GU H1

It seems to me bullish breakout from wedge, invalidation close under ~6461 or close back under the TL...

Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdmicroh1.png Size: 41 KB
Anything is math!
  • #356,887
  • Dec 30, 2013 6:18am Dec 30, 2013 6:18am
Quoting el_duende
Every time frame from 1 hour - monthly is bullish You best hope for good $ housing news at 3pm
90% bullish but still leaking like anything
  • #356,888
  • Dec 30, 2013 6:28am Dec 30, 2013 6:28am
Quoting rambo12
{quote} Not like that man ..but any reason for drop ..that ..as per my view technically will hit 81+ ..let's hope for the good data
I don't analyse the dollar index. The usdchf and the gold is the only charts that i try to use to predict the dolar strength, but the UC not seems to be too strong...
Anything is math!
  • #356,889
  • Dec 30, 2013 6:54am Dec 30, 2013 6:54am
Quoting Kajos2250
{quote} I don't analyse the dollar index. The usdchf and the gold is the only charts that i try to use to predict the dolar strength, but the UC not seems to be too strong...

Oh that's does not work to analyse DX ..anyhow ..how long it will go up in your view before correction
  • #356,890
  • Dec 30, 2013 6:59am Dec 30, 2013 6:59am
Quoting elbert3
looks to me like a triange forming 1 hr, watch for any break out, any body else see it???
Looks more like a bearish flag to me representing the B wave of a downward ABC zigzag correction. My downside target remains at 1.6418 to 1.6388 area to complete wave C.

Attached Image


ADD: This is only valid as long as 6520 holds the line. If price pops above, then the downside target will move up accordingly.
Those who say it cannot be done should not interrupt those who are doing it
  • #356,891
  • Dec 30, 2013 7:05am Dec 30, 2013 7:05am
Quoting PipTrapper
{quote} Looks more like a bearish flag to me representing the B wave of a downward ABC zigzag correction. My downside target remains at 1.3418 to 1.3388 area to complete wave C. {image}
i was thinking that might form if it did not break the 1.6500, we would have to see the start of the downside about now though
  • #356,892
  • Dec 30, 2013 7:11am Dec 30, 2013 7:11am
lets hope for a rejection here
  • #356,893
  • Dec 30, 2013 7:17am Dec 30, 2013 7:17am
Quoting elbert3
{quote} i was thinking that might form if it did not break the 1.6500, we would have to see the start of the downside about now though
USD/CHF has just reached the H4 demand zone so we should see a bounce from here. That should put some pressure on Cable.
Regardless, I'm not trading any of this. I am only awaiting a nice place to buy. Corrections are too unpredictable to trade stress free.

The three possible scenarios are as follows...

1. ZigZag correction from the 6577 high to 6456 low (Wave A). 6456 low to 6500/20 high (Wave B) followed by a wave C to around 6400
2. Flat correction from 6577 high to 6456 low (Wave A). 6456 Low to 6577 high (wave B). Followed by a revisit to 6456 low (Wave C)
3. Wave A the same as above. Wave B somewhere between 1 and 2. Followed by Wave C somewhere between 1 and 2.

For me to pick the bottom to buy it's easy. I just wait till I see a confirmation that wave B is in place and I measure where wave C should end by using my Fibo extension tool. :nerd:
Those who say it cannot be done should not interrupt those who are doing it
  • #356,894
  • Dec 30, 2013 7:25am Dec 30, 2013 7:25am
make sure bottom trend line get broken before going short, if trend line dont get broke look to go long again
  • #356,895
  • Dec 30, 2013 7:26am Dec 30, 2013 7:26am
Quoting PipTrapper
{quote} USD/CHF has just reached the H4 demand zone so we should see a bounce from here. That should put some pressure on Cable. Regardless, I'm not trading any of this. I am only awaiting a nice place to buy. Corrections are too unpredictable to trade stress free. The three possible scenarios are as follows... 1. ZigZag correction from the 6577 high to 6456 low (Wave A). 6456 low to 6500/20 high (Wave B) followed by a wave C to around 6400 2. Flat correction from 6577 high to 6456 low (Wave A). 6456 Low to 6577 high (wave B). Followed by a revisit...
well the flag has now waved on i turned the table and went long as we had to bull candles , fib on the 27th move 1 hr and just closed at 50% could go higher but will see if we get a reject off the fib to go short again need the body to close below 1.605 one thinks
  • #356,896
  • Dec 30, 2013 7:26am Dec 30, 2013 7:26am
I am thinking of buying GU (LONG) again after a good Friday.
Trade your plan.
  • #356,897
  • Edited 7:47am Dec 30, 2013 7:29am | Edited 7:47am
Quoting elbert3
{quote} well the flag has now waved on i turned the table and went long as we had to bull candles , fib on the 27th move 1 hr and just closed at 50% could go higher but will see if we get a reject off the fib to go short again need the body to close below 1.605 one thinks
Here is what I am thinking re my first scenario.

G/U M5
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdm5.png Size: 80 KB


2nd Scenario
G/U M5
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdm5a.png Size: 72 KB
Those who say it cannot be done should not interrupt those who are doing it
  • #356,898
  • Dec 30, 2013 7:33am Dec 30, 2013 7:33am
Quoting rambo12
{quote} Oh that's does not work to analyse DX ..anyhow ..how long it will go up in your view before correction
In my humble opinion first bullish realization zone ~6697 and then retest this ~6500 zone and again long to 2nd realization zone that is ~7168. After these all maybe a deeper retest to ~6300...
At the moment the Daily charts shows me this scenario.
The higher time frame shows me strong bulls maybe without 38.2 retracement and sudden go to ~7800...

These are only my prices that i increased watch to make sudden decision
Anything is math!
  • #356,899
  • Dec 30, 2013 7:33am Dec 30, 2013 7:33am
@Sir PipTrapper,

A very nice chart. But should use chart with TF from H4 to W1 to forecast the trendline. Your M5 chart is nothing to say.

Good luck trading!
Trade your plan.
  • #356,900
  • Dec 30, 2013 7:37am Dec 30, 2013 7:37am
Quoting Jackana
@Sir PipTrapper, A very nice chart. But should use chart with TF from H4 to W1 to forecast the trendline. Your M5 chart is nothing to say. Good luck trading!
I fully agree with you on that, but I was not using M5 to forecast trend. Only to look for best entry to go long.

Here is the H4 view
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdh4.png Size: 42 KB
Those who say it cannot be done should not interrupt those who are doing it
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