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Cable Update (GBPUSD)

  • #100,381
  • Nov 23, 2008 5:15am Nov 23, 2008 5:15am
hi all...i hope you are all will and got a good profit. in the last week i lost a good money cause i was closed the orders with small profits and didn`t wait to get my targets, and when i taked my small profit i then it reached the target...damitt,300 pips lost, never the less i got 350 pips last week.
what you get in the wind goes through the storms
  • #100,382
  • Nov 23, 2008 5:17am Nov 23, 2008 5:17am
can i asked you a question????
what you get in the wind goes through the storms
  • #100,383
  • Nov 23, 2008 5:28am Nov 23, 2008 5:28am
Hello everybody. Its been a long time since i posted in this thread my analysis. I have my outlook for the upcomming week ready so heres my view on the GBP/USD. On the 4hr theres a possible MACD bullish divergence targeting 1.6671. Of course if the divergence is confirmed as it might try to avoid it by bouncing lower from the descending 4hr UTL you see in the first screenshot. Im observing price inside a descending wedge like formation on the 4hr with it beying inside a big descending broadening type formation on the dayly that you can see in my 2nd screenshot. The yellow line is the target based on the MACD divergence by pure Igrok style, if somebody knows what im talking about. Those divergences are like unpayed debts and the market will come back to fill them no matter what as it doesnt forget anything. On my 2nd screenshot you see a market area @ around 1.7000 where we also have a wider range descending UTL from the dayly in red, and thats where my 2nd target would be. I believe we are in for a correction and the buck will be sold hard. USDX has a confirmed bullish MACD divergence with the minimum "must reach" target of 92.50 - the double top from the year 2004-2005, that is serving as resistance area as well if checking back in history. But, theres a gap @ 94.73-95.13, so i believe we might even break that double top and fill the gap. As for now - correction. If and when the things i wrote here happens ill be chillin in the bull camp on the GBP/USD and also EUR/USD that follows the same path, as per my analysis.

Hope you like my simple charts and feel free to comment anything;-)

Cheers,

P.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbp_usd_h4_div.jpg Size: 95 KB
Click to Enlarge Name: gbp_usd_h4_div2.jpg Size: 89 KB
  • #100,384
  • Nov 23, 2008 6:39am Nov 23, 2008 6:39am
GBPUSD is down for the next week imo .. we still need a new low on the daily TF to complete the wave sequence.. after that market should be up up up...
The Essentials of Trading: Emotions, Risk Mgt, Price.
  • #100,385
  • Nov 23, 2008 6:58am Nov 23, 2008 6:58am
Quoting Slight
GBPUSD is down for the next week imo .. we still need a new low on the daily TF to complete the wave sequence.. after that market should be up up up...
We will have another leg down but if the divergence starts playing out, forget about that for a while. The chart speaks a thousand words. Follow your charts and believe in yourself, and the target will be achieved
  • #100,386
  • Nov 23, 2008 7:03am Nov 23, 2008 7:03am

Re you sure? Annual Pre-Budget Report on Tuesday? And Obama Speaks. Will GU go Up Up Up on Tuesday?






Learning, is a never ending processs...
  • #100,387
  • Nov 23, 2008 7:04am Nov 23, 2008 7:04am
Quoting ezmystic
cheers mate. I'm going to do it on a demo account just for fun anyway, but I'm not willing to take the risk of getting hammered on a real account. Hope your having good weekend, it's p*****g down with rain here.
YES i think its been raining here in london since yesterday non stop,,cold as hell as well..lol ....at least its weekend
  • #100,388
  • Nov 23, 2008 7:08am Nov 23, 2008 7:08am
Quoting belekas
Hello everybody. Its been a long time since i posted in this thread my analysis. I have my outlook for the upcomming week ready so heres my view on the GBP/USD. On the 4hr theres a possible MACD bullish divergence targeting 1.6671. Of course if the divergence is confirmed as it might try to avoid it by bouncing lower from the descending 4hr UTL you see in the first screenshot. Im observing price inside a descending wedge like formation on the 4hr with it beying inside a big descending broadening type formation on the dayly that you can see in my...
Is that for real ???
  • #100,389
  • Nov 23, 2008 7:11am Nov 23, 2008 7:11am
Quoting belekas
Hello everybody. Its been a long time since i posted in this thread my analysis. I have my outlook for the upcomming week ready so heres my view on the GBP/USD. On the 4hr theres a possible MACD bullish divergence targeting 1.6671. Of course if the divergence is confirmed as it might try to avoid it by bouncing lower from the descending 4hr UTL you see in the first screenshot. Im observing price inside a descending wedge like formation on the 4hr with it beying inside a big descending broadening type formation on the dayly that you can see in my...
great analysis..certainly possible
i will have look at the chart i havent looked at them all weekend but what yur saying and yur chart definately suggest this...diverence is there and all now to happen is the wedge needs to break on the upside otherwise i fancy a new low....

good job bro
  • #100,390
  • Nov 23, 2008 7:13am Nov 23, 2008 7:13am
Quoting gagakrimba
Is that for real ???
Thats not a question. My analysis are based on oldschool TA. Lets see what the market has for us this week.
  • #100,391
  • Nov 23, 2008 7:15am Nov 23, 2008 7:15am
Quoting nAVIN2007
great analysis..certainly possible
i will have look at the chart i havent looked at them all weekend but what yur saying and yur chart definately suggest this...diverence is there and all now to happen is the wedge needs to break on the upside otherwise i fancy a new low....

good job bro
Just keeping it simple brother and you know how we roll How is you doing buddy?
  • #100,392
  • Nov 23, 2008 7:31am Nov 23, 2008 7:31am
Quoting belekas
Just keeping it simple brother and you know how we roll How is you doing buddy?
old school style.....cant mess with it.....
  • #100,393
  • Nov 23, 2008 7:35am Nov 23, 2008 7:35am
hey guys,

a bit of fudamental analysis here for you guys. gordon brown releasing pre-budget report tomorrow and he is talkign about introducing "substantial measures" to pump money into the economy. its all part of and "emergency package" to kickstart the economy. what are your thoughts on how it will affect GU?
  • #100,394
  • Nov 23, 2008 8:36am Nov 23, 2008 8:36am
Surely. Another leg down is enough though to make a couple of hundreds pips =) trading this thing on the 1h TF so far .. we'll see what happens.

Quoting belekas
We will have another leg down but if the divergence starts playing out, forget about that for a while. The chart speaks a thousand words. Follow your charts and believe in yourself, and the target will be achieved
The Essentials of Trading: Emotions, Risk Mgt, Price.
  • #100,395
  • Nov 23, 2008 9:46am Nov 23, 2008 9:46am
The pre-budget report looks like a catalyst for more weakening of sterling to me.

Basically he's borrowing 100Bn on the bet that the economy picks up a couple of years down the line and he can hike taxes to pay for it.

Kinda like owning a big house and raising money on the mortgage to keep on paying the mortgage whilst you are out of work. Might work but more likely looks ruinous as if things don't run the way you hope, how will you pay the debt ?

Of course, we'll see what the markets make of it.

Tokyo closed tomorrow.
  • #100,396
  • Nov 23, 2008 9:55am Nov 23, 2008 9:55am
Quoting ezmystic
If i set an order to kick in say 5 pips either way with TP of 100-150 and very tight SL does anyone reckon this would be filled and would it fill at roughly the price I've asked for?

Does anyone know?
Depends. Both orders could kick in if your broker fluctuates is spread.
I know on Sunday open (usa pst) IBFX will sometimes have 80 pip spreads on the GJ !!

Bucket Shops......

that's why I like ODL, FIXED spreads at all times.
  • #100,397
  • Nov 23, 2008 10:31am Nov 23, 2008 10:31am
how about Fxpro?? Is this broker ok?? I have deposit my account this month. I'm still in withdrawal request process. They're are asking me for a scanned copy of my debit card, and then for my specimen signature. What else after this I do not know. All that I want to know is this normal for a first time withdrawals using a debit card? Anyone here have an experienced with that broker??
  • #100,398
  • Nov 23, 2008 11:19am Nov 23, 2008 11:19am
Quoting moewenger
how about Fxpro?? Is this broker ok?? I have deposit my account this month. I'm still in withdrawal request process. They're are asking me for a scanned copy of my debit card, and then for my specimen signature. What else after this I do not know. All that I want to know is this normal for a first time withdrawals using a debit card? Anyone here have an experienced with that broker??
They do good for me though. Takes sometime to fill the required doc's for the first time so they can use them later when withdrawing money. Nothing special, just a standart procedure.
  • #100,399
  • Nov 23, 2008 11:26am Nov 23, 2008 11:26am
Quoting belekas
They do good for me though. Takes sometime to fill the required doc's for the first time so they can use them later when withdrawing money. Nothing special, just a standart procedure.
good to hear. so far, how many withdrawals have u made??
  • #100,400
  • Nov 23, 2008 11:30am Nov 23, 2008 11:30am
i guess i will be selling the gbp this week.
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