Actaully Daily chart is better to look at. November 26th 2013 at 6480. It has yet to breach that level to the downside. The longer that area holds the more likely it is to go up.
Cable Update (GBPUSD)
- #368,962
- Mar 21, 2014 9:02am Mar 21, 2014 9:02am
- Joined Aug 2011 | Status: Trader | 4,005 Posts
{quote} eur/usd M15 This is for the euro, but there is a similar graph for the cable. {image}
Target is 3864.
"You have to BE before you can DO, and DO before you can HAVE." Zig Ziglar
- #368,964
- Mar 21, 2014 9:06am Mar 21, 2014 9:06am
- Joined Aug 2011 | Status: Trader | 4,005 Posts
{quote} Level is 3798. Open with support at 3806. You have four hours the price does not fall below 3798. {image} Target is 3864.
"You have to BE before you can DO, and DO before you can HAVE." Zig Ziglar
- #368,969
- Mar 21, 2014 9:24am Mar 21, 2014 9:24am
- Joined Nov 2007 | Status: left CanaryWharf desk-tea break | 24,286 Posts
thats right start building longs at bottom of bearish week 
AM i the only one long here? You guys need to look at your 4 hour chart at 6480. There is major support there. It has been bouncing off that area for two days now. Until it breaks that area with a solid move down. I will be buying more. Look at the chart tell me it has broken that area. It hasnt. Less time on this site more time reading charts.
On-site guru & also FF member's' psychiatrist, when not drinking tea
- #368,970
- Mar 21, 2014 9:27am Mar 21, 2014 9:27am
- Joined Jan 2014 | Status: Less is more ... | 9,059 Posts
{quote} godim if i had to stare at those charts all day, i think i might shoot myself. Way to much going on in those charts. Makes my head hurt.
But if it works for him, why not ...
Fix up, trade sharp ...
- #368,971
- Mar 21, 2014 9:28am Mar 21, 2014 9:28am
- Joined Aug 2011 | Status: Trader | 4,005 Posts
"You have to BE before you can DO, and DO before you can HAVE." Zig Ziglar
- #368,974
- Mar 21, 2014 9:51am Mar 21, 2014 9:51am
- Joined Nov 2007 | Status: left CanaryWharf desk-tea break | 24,286 Posts
On-site guru & also FF member's' psychiatrist, when not drinking tea
- #368,975
- Mar 21, 2014 9:54am Mar 21, 2014 9:54am
- Joined Nov 2007 | Status: left CanaryWharf desk-tea break | 24,286 Posts
On-site guru & also FF member's' psychiatrist, when not drinking tea
- #368,976
- Mar 21, 2014 9:57am Mar 21, 2014 9:57am
- Joined Aug 2011 | Status: Trader | 4,005 Posts
gbp/usd daily {image}
still no established support. DownTrend possible to continue.
"You have to BE before you can DO, and DO before you can HAVE." Zig Ziglar
- #368,977
- Mar 21, 2014 10:04am Mar 21, 2014 10:04am
- Joined Aug 2011 | Status: Trader | 4,005 Posts
{quote} gbp/usd daily still no established support. DownTrend possible to continue. {image}
level now is 6511
"You have to BE before you can DO, and DO before you can HAVE." Zig Ziglar
- #368,978
- Mar 21, 2014 10:04am Mar 21, 2014 10:04am
- Joined Dec 2007 | Status: mac daddy junior :) | 20,899 Posts
{quote} Was that your attempt at sarcasim?
1.67 is a tough area..and price has not had a chance to retrace, generally it likes the 50% imho i think we have just seen a peak..its now got room for make a good retrace 1.6 can be tested.
if u look at the formation i wont call it a good bear formation ie the wedge isnt right but trading isnt always about a perfect fit..for sure bears have a chance..this could be the high point for perfect sells..bear this in mind
my eyes will be on 1.6 for a bounce to potentially finish me off..hence why im offloading my position just incase
technically it is setup in my view for a descent sell
- #368,979
- Mar 21, 2014 10:17am Mar 21, 2014 10:17am
- Joined Nov 2007 | Status: left CanaryWharf desk-tea break | 24,286 Posts
see a great poster ,chart explanation , no sarcasam
{quote} this is what i see 1.67 is a tough area..and price has not had a chance to retrace, generally it likes the 50% imho i think we have just seen a peak..its now got room for make a good retrace 1.6 can be tested. if u look at the formation i wont call it a good bear formation ie the wedge isnt right but trading isnt always about a perfect fit..for sure bears have a chance..this could be the high point for perfect sells..bear this in mind
On-site guru & also FF member's' psychiatrist, when not drinking tea
- #368,980
- Mar 21, 2014 10:21am Mar 21, 2014 10:21am
- Joined Aug 2011 | Status: Trader | 4,005 Posts
{quote} Level is 3798. Open with support at 3806. You have four hours the price does not fall below 3798. {image} Target is 3864.
"You have to BE before you can DO, and DO before you can HAVE." Zig Ziglar