Cable Update (GBPUSD) | Page 713 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

GBP/USD

Similar Threads

Cable Update - Continued 118 replies

Cable Update (GBP/USD) without Idiots 25 replies

cable short for gbpusd? 10 replies

Why is GBPUSD called cable? 76 replies

Cable (GBPUSD) vs Euro (EURUSD) 31 replies

Attachments: Cable Update (GBPUSD)
Exit Attachments

Cable Update (GBPUSD)

  • #14,241
  • Edited 11:38am Jun 3, 2007 9:22am | Edited 11:38am
following on an old post about the diamond pattern, see the chart below.
monday's high should be around 1.9867, then we'll have a break, up or down.
for who is not familiar with the pattern, it is briefly explained here and here; the last one also talks about possible targets:
- if it breaks upwards, technical TP is @ 2.0089
- if it breaks downwards, technical TP is in 1.9550 area
by the way, notice how 50 EMA (red) is below 200 EMA (yellow), which suggest that a break upwards would be tough - although 50 EMA points upwards and last candle closed above 200 EMA...
care to comment on this?
Attached Image (click to enlarge)
Click to Enlarge Name: g-u diamond.jpg Size: 48 KB
Nihil Sine Deo.
  • #14,242
  • Jun 3, 2007 10:33am Jun 3, 2007 10:33am
to coment this u need to be an expert,...lol...its still a top to me, if u check monthly charts (stohastic did cross), but it will try to go up, before it will come down, and the main driver will be the rate hike,..its gona be priced in, and then even if it is a hike or a no hike it will slide down as ppl will take profits,...care to agree/disagre?...
its just money
  • #14,243
  • Jun 3, 2007 11:50am Jun 3, 2007 11:50am
Quoting Scrat
following on an old post about the diamond pattern, see the chart below.
monday's high should be around 1.9867, then we'll have a break, up or down.
for who is not familiar with the pattern, it is briefly explained here and here; the last one also talks about possible targets:
- if it breaks upwards, technical TP is @ 2.0089
- if it breaks downwards, technical TP is in 1.9550 area
by the way, notice how 50 EMA (red) is below 200 EMA (yellow), which suggest that a break upwards would be tough - although 50 EMA points upwards and last candle closed above 200 EMA...
care to comment on this?

Scrat,
I agree with you, my system shows high @ 1.9868
But, if it breaks 1.9913 we could see the high you mentioned, so 1.9913 is the key for break high this week, and on the otherside 1.9731 is the key for break low
  • #14,244
  • Jun 3, 2007 12:02pm Jun 3, 2007 12:02pm
remember, it could go either ways. up or down.
as for tp, i was going by the book: the difference between diamond's high-low, added to or subtracted from the break point price.

Quoting pino2
Scrat,
I agree with you, my system shows high @ 1.9868
But, if it breaks 1.9913 we could see the high you mentioned, so 1.9913 is the key for break high this week, and on the otherside 1.9731 is the key for break low
Nihil Sine Deo.
  • #14,245
  • Edited 5:22pm Jun 3, 2007 5:20pm | Edited 5:22pm
Somewhere over time I've become convinced that the best analysis is done on a daily chart. The G/U trend is up, howbeit a very wind channel. I see market prices following a structural design that continue to repeat themselves as only an expert can predict as he looks back on history. You know what they say about hindsight. I believe we'll see a continuation of the up trend to about 2.0050 and how low can it go, maybe back into the 1.97s but only briefly before continuing the trend up.
  • #14,246
  • Jun 3, 2007 6:28pm Jun 3, 2007 6:28pm
Quoting asyi
I believe we'll see a continuation of the up trend to about 2.0050
About what I see on the daily around 2.0040, although the 2.0000 is a nice round number with some decent resistance and could diminish the move. I'm likely waiting for another bounce off my aggressive daily trend line in the 9770 range currently (also 365sma) or a break past my conservative 4h down trend line at 9870 currently (may 15ths high). A break past 9900 would signal to me the daily chart trend is in full force continuation. Or a break past my daily line would signal down towards 9680 (may 21st low and my conservative daily trend line). I'm prepared for a break either way, it's over due.
  • #14,247
  • Jun 3, 2007 7:56pm Jun 3, 2007 7:56pm
Firstly , the 200 EMA is not a major technical indicator. You would want to replace it with a 200 SMA.. The SMA is a force to be reckoned with.

Agreeing with the diamond pattern. The break is usually down on a diamond. I believe we will go that way. With most pairs looking as going down yet again after fridays rubbish. The 200 sma is currently around 9875, and has not been broken in any of the spikes up... This to me is a pure indication that we will not get through 9850 this time.. Giving us plenty of room to start the journey downside.

It would appear the AUD has kept most USD pairs up over the last week, and it is becoming bearish also. So lets go down plz gbp ^_^...

Just my opinion
  • #14,248
  • Jun 3, 2007 8:18pm Jun 3, 2007 8:18pm
Quote
GBP LOOKS VULNERABLE TO ANY SOFT DATA; WITH THE MARKET FULLY PRICED FOR ONE HIKE, ANY SIGNS OF MODERATION WILL CAUSE SOME WOBBLES - ANALYST
**Note: Daragh Maher at Calyon

I agree with Takisd of a bear run. Im currently waiting with a short limit at 1.9850. I sure hope it does touch that this time.
  • #14,249
  • Jun 3, 2007 9:48pm Jun 3, 2007 9:48pm
thanks for the comments. will look into 200sma, didn't think of that since everyone seems to be using 200ema.

Quoting Takisd
Firstly , the 200 EMA is not a major technical indicator. You would want to replace it with a 200 SMA.. The SMA is a force to be reckoned with.

Agreeing with the diamond pattern. The break is usually down on a diamond. I believe we will go that way. With most pairs looking as going down yet again after fridays rubbish. The 200 sma is currently around 9875, and has not been broken in any of the spikes up... This to me is a pure indication that we will not get through 9850 this time.. Giving us plenty of room to start the journey downside.

It would appear the AUD has kept most USD pairs up over the last week, and it is becoming bearish also. So lets go down plz gbp ^_^...

Just my opinion
Nihil Sine Deo.
  • #14,250
  • Edited 10:30pm Jun 3, 2007 9:52pm | Edited 10:30pm
Quoting Takisd
Firstly , the 200 EMA is not a major technical indicator.

Just my opinion
Got that right.
  • #14,251
  • Jun 4, 2007 1:00am Jun 4, 2007 1:00am
Well, if you look at price action off 200 sma vs 200 ema, you will find that 200 ema is so weak its not funny compared to 200 sma...

Thus not making it a major technical indicator in the eyes of institutions... I do know folks at citigroup and macquarie bank who have told me the same... So I am not just blowing smoke up your backside.
  • #14,252
  • Jun 4, 2007 1:04am Jun 4, 2007 1:04am
If there's no news affect the cable strongly, Cable's trend today is going down, a downtrend breakout at 1.9765 causes a TP @1.9500.
Just thinking, plz comment on my ideas.
  • #14,253
  • Jun 4, 2007 1:37am Jun 4, 2007 1:37am
  •  CWH
  • | Joined Feb 2007 | Status: United We Buy, Divided We Sell | 249 Posts
Quoting NNDDuong
If there's no news affect the cable strongly, Cable's trend today is going down, a downtrend breakout at 1.9765 causes a TP @1.9500.
Just thinking, plz comment on my ideas.
As a matter of fact, Monday is typically a quiet trading day from my observation. The only news release that may catch attention is US Factory Orders due at 10pm EST but that's not gonna shake the market either.
"If, at first, you don't succeed, try, try, try again" - Winston Churchill
  • #14,254
  • Jun 4, 2007 3:44am Jun 4, 2007 3:44am
Think only??????

Quoting NNDDuong
I think the cable will jump over 1.9900, maybe hit 2.
  • #14,255
  • Jun 4, 2007 3:52am Jun 4, 2007 3:52am
Quoting PandoraBox
Think only??????
hehe, that was my thinking last week for whole this week.
I saw a signal for a trend down today.:
  • #14,256
  • Jun 4, 2007 3:58am Jun 4, 2007 3:58am
Quoting NNDDuong
hehe, that was my thinking last week for whole this week.
I saw a signal for a trend down today.:
==============

I gave the same signal last friday ( going down to 96 this week)
Let's go down cable

=================
  • #14,257
  • Jun 4, 2007 4:08am Jun 4, 2007 4:08am
Quoting ndvt241
==============

I gave the same signal last friday ( going down to 96 this week)
Let's go down cable

=================
uh oh, the cable still goes up for whole week, maybe a little down today
  • #14,258
  • Jun 4, 2007 4:17am Jun 4, 2007 4:17am
short at 9850, SL above 9900, let's hope the down materialize
  • #14,259
  • Jun 4, 2007 4:22am Jun 4, 2007 4:22am
Quoting nasr
short at 9850, SL above 9900, let's hope the down materialize
dollar is getting hit across the board... Why jump in the opposite direction? To outsmart the market? That's ego, not trading.
  • #14,260
  • Jun 4, 2007 4:22am Jun 4, 2007 4:22am
"hope" is probably the most dangerous word in FX.

Quoting nasr
short at 9850, SL above 9900, let's hope the down materialize
TRADE FOR SWAP
351 traders viewing now