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Cable Update (GBPUSD)

  • #377,361
  • May 13, 2014 8:09am May 13, 2014 8:09am
Quoting JimmyC
GU 4H Some thoughts, GU remains significantly stronger than EU, EU is weak though and this is having an impact mixed with the $DX struggling along US data was not very strong... so knee jerk response Support levels are breaking... So two technical patterns emerge and one support break 2 bear and 1 bull H&S -> caution also suggests falling wedge Support @ 1.6280 does matter... and its being poked All patterns are in formation and none have confirmed, belts and braces approach is to wait for the patterns to confirm be fore trading them Trade...
thanks for taking the time to explain the patterns, I need all the help I can get

didn't you mean 6820 for a support level
  • #377,362
  • May 13, 2014 8:10am May 13, 2014 8:10am
It is just a wild guess. can we expect a 1.6780 level should the pair break below 1.6830????
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdh4.png Size: 40 KB
  • #377,363
  • May 13, 2014 8:14am May 13, 2014 8:14am
Quoting Fx_Anil
It is just a wild guess. can we expect a 1.6780 level should the pair break below 1.6830???? {image}
My second main buying area remains 6750/80. My first is 6800/20. So if the first gives way, I'll be watching the second. Beyond that may signal a mid to longer term trend change? Just my thoughts of course.
Ghost Rider - WWTBMD?
  • #377,364
  • May 13, 2014 8:14am May 13, 2014 8:14am
Quoting AllyB
{quote} Hi carlicus, go to this link and download the PDF.. that will give you a good idea of what they are http://www.forexfactory.com/showthre...65#post6090365
Thanks a lot for the information, AllyB
  • #377,365
  • May 13, 2014 8:14am May 13, 2014 8:14am
Quoting AllyB
{quote} thanks for taking the time to explain the patterns, I need all the help I can get didn't you mean 6820 for a support level
Yep sorry!
  • #377,366
  • May 13, 2014 8:19am May 13, 2014 8:19am
Quoting JimmyC
GU 4H Some thoughts, GU remains significantly stronger than EU, EU is weak though and this is having an impact mixed with the $DX struggling along US data was not very strong... so knee jerk response Support levels are breaking... So two technical patterns emerge and one support break 2 bear and 1 bull H&S -> caution also suggests falling wedge Support @ 1.6820 does matter... and its being poked All patterns are in formation and none have confirmed, belts and braces approach is to wait for the patterns to confirm be fore trading them Trade safe...
Jimmy, how do you draw the neckline on an H&S pattern? Is this even close?
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdh4.png Size: 60 KB
Ghost Rider - WWTBMD?
  • #377,367
  • May 13, 2014 8:21am May 13, 2014 8:21am
Quoting AllyB
{quote} thanks for taking the time to explain the patterns, I need all the help I can get didn't you mean 6820 for a support level
LOL... ok, how fixated am I on 6820? I actually read it as 6820 in his post.
Ghost Rider - WWTBMD?
  • #377,368
  • May 13, 2014 8:22am May 13, 2014 8:22am
Quoting albchr
{quote} My second main buying area remains 6750/80. My first is 6800/20. So if the first gives way, I'll be watching the second. Beyond that may signal a mid to longer term trend change? Just my thoughts of course.
Considering the overall fundamentals and the longer term perspective i completely agreeing you.....
  • #377,369
  • May 13, 2014 8:22am May 13, 2014 8:22am
Quoting musani
Good day. Here is 4hr & daily tradeline area to view. All teh best {image}{image}
Beware with 1.6832 number:nerd: cable is doing something tomorow
Attached Image
GELORE
  • #377,370
  • May 13, 2014 8:23am May 13, 2014 8:23am
Quoting albchr
{quote} Jimmy, how do you draw the neckline on an H&S pattern? Is this even close? {image}
Spot on.

When they slant right or they are flat always watch Price Action breaking above the R shoulder is the preferred SL area because it indicates the falling wedge has won the day. So failure to adhere to SL discipline with these structures is fatal... The wedge is a continuation pattern falling bullish vs H&S bearish, you can imagine the disasters
  • #377,371
  • May 13, 2014 8:23am May 13, 2014 8:23am
Quoting JimmyC
{quote} Yep sorry!
I posted the wrong chart a bit ago ... must be something in the air
  • #377,372
  • May 13, 2014 8:23am May 13, 2014 8:23am
Quoting elbert3
{quote} any body going to sell the rise ?????
Waiting for EU back up to 3750
All posts are my personal opinion
  • #377,373
  • May 13, 2014 8:25am May 13, 2014 8:25am
US chaos 5 min and counting

SPX 500 needs 1900 / 1907 for bullish continuation failure would make life uncomfortable around here and DX may strengthen...
  • #377,374
  • May 13, 2014 8:27am May 13, 2014 8:27am
Quoting AllyB
{quote} I posted the wrong chart a bit ago ... must be something in the air


and my spelling is just atrocious and my levels typed in a hurry look like I have other issues

  • #377,375
  • May 13, 2014 8:29am May 13, 2014 8:29am
DX weakening going into the US open

1H
Attached Image (click to enlarge)
Click to Enlarge Name: DX 1H.png Size: 21 KB
  • #377,376
  • May 13, 2014 8:33am May 13, 2014 8:33am
Quoting albchr
{quote} i'm still just waiting for it to actually "test" support a second time. It's inching ever closer ... Lol not exactly the classic cable tank some are looking for....yet {image}
the case looks strong short as jimmy said for now i have 3 short positions , 1 is taking care of the other 2, so on the day i am still up if i close out at 60, 50, but just added at 38,, thinking it was going to drop,, all my charts on sunday are short based,, because , some body said no 1700 ??????? Lol gl
  • #377,377
  • May 13, 2014 8:34am May 13, 2014 8:34am
Quoting jimmyc
{quote} And my spelling is just atrocious and my levels typed in a hurry look like i have other issues
i have he same problem with my spellling ?? I tink i am dicklikesick??
  • #377,378
  • May 13, 2014 8:37am May 13, 2014 8:37am
Quoting Carlicus
{quote} Thanks a lot for the information, AllyB
glad I could help
  • #377,379
  • May 13, 2014 8:38am May 13, 2014 8:38am
Quoting elbert3
{quote} i have he same problem with my spellling ?? I tink i am dicklikesick??


Love it

PS I'm looking for 1.67 to long again... dunno why I'm here... just waiting for my bus stop I suppose
  • #377,380
  • May 13, 2014 8:39am May 13, 2014 8:39am
Quoting albchr
{quote} LOL... ok, how fixated am I on 6820? I actually read it as 6820 in his post.
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