Cable Update (GBPUSD)
Is that something you picked up at Old Navy. The yellow triangle a fall fashion item to have for the ladies ?
Looks like the top half of a "Yield" sign.
Hi everyone,
this week will be very interesting for the cable.The pair is starting to draw it's final 5th wave and a sell-off will follow.My analysis shows end of 5th wave around 2.0490 or 2.0530-60,so I'll close my long position after the news at 10:30a.m. gmt+1 from England and will start looking for short position.
I think,that BoE will cut the rates before the end of the year and the market didnt anticipate this yet,but soon will start calculating it and that's another reason for me to think,that we are close to big drop.
SO ..waves are showing down ..what is showing the conventional technical analysis -
1.weekly chart - hanging man,divergences MACD,RSI,Momentum,ADX showing that we are out of the trend
2.daily chart - divergeces MACD,RSI,Momentum,ADX is showing that the trend is close to its end.Possible 2b reversal - will be activated is price goes down below 2.0170
3.4h,houlry chart - the same thing
4.30m chart - possible 2b reversal formation ( will be activated if price goes down below 2.04
Pure dollar - this week I expect revision of the PPI data and good news for the dollar.
Success !
It depends from the price movements - something around 2.0 at the first time.
I forgot - political the things are also not clear and don't forget one fact -
capital is the most cowardly thing in the world
Hey Cesar
futures are showing,that the speculators are starting to overthink their expectations about the rate cut later this month.
Take a look at weekly charts eu and gu - they are still bearish I think
As u know I'm still holding long positions and I'll close them when I see clear signals to do it.For now I'm also looking up,but big time frame charts are the most important.100 pips move up by eu and gu will not cancel the bearish scenario on the weekly chart.I'm just looking at every possibility right now,because the market is very choppy and there are fake breakouts every day.
The level,which opens the way up by eurusd is 1.4150.It wasnt broken last week,let's see what will happen now.
Hey Cesar
futures are showing,that the speculators are starting to overthink their expectations about the rate cut later this month.
Take a look at weekly charts eu and gu - they are still bearish I think
As u know I'm still holding long positions and I'll close them when I see clear signals to do it.For now I'm also looking up,but big time frame charts are the most important.100 pips move up by eu and gu will not cancel the bearish scenario on the weekly chart.I'm just looking at every possibility right now,because the market is very choppy and there are fake breakouts every day.
The level,which opens the way up by eurusd is 1.4150.It wasnt broken last week,let's see what will happen now.
Here is my opinion, to short at this moment is very risky unless we have good signal to go short.(hopefully by nextweek we can see that signal either continue to long or short).
On daily chart since 27/7 till to date the price still unable to break the support or the resistance. Price keep on bouncing between S&R
Weekly chart shows very stong movement downward and break the trendline on 12/8 however the price close above the trendline. But for me the market is giving me signal that one day the price will break again and close below the trendline (correction from 2/4/2006) + this week close with hanging man.
Do not take this seriously. I might be wrong. and most of the time im wrong
Divergences do not signal an end of trend. They are meaningless if there is no follow through. Let see if a move to the downside begins before calling any kind of end to this uptrend because one thing that allows markets to go higher and higher (regardless of what some indicator says) is traders who have to cover when they go short prematurely.
, like if he knew that, for a long time. 
