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Cable Update (GBPUSD)

  • #156,321
  • Aug 7, 2009 2:16pm Aug 7, 2009 2:16pm
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
DT mate, I am impressed with your charting analysis... can't resist to say I would like to vouch but do not have enough credibility yet :-)

Missed all the action today. Will wait to see buy opportunity when you present your charts next :-)







Quoting direct-trade
TP 1, 2 and 3 collected this week Chart here:http://www.forexfactory.com/showpost...stcount=154828



However, dragon and U/J are being stubborn little gits and refusing to drop with my sell orders. Expecting sell off towards end NY
  • #156,322
  • Aug 7, 2009 2:51pm Aug 7, 2009 2:51pm
Hey Guys ,

I'm a newbee....

Can you please tell me what you think will happen next week?

Will GBP go UP or continue Down?


Regards
  • #156,323
  • Aug 7, 2009 3:13pm Aug 7, 2009 3:13pm
WASSSUPPP???

ooh..yeah... the dollar...
  • #156,324
  • Aug 7, 2009 3:16pm Aug 7, 2009 3:16pm
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
Hey cesarnc,

it's due to treasury auction happening, and investors buying US equities.

hope it's temporary , lol :-)

were you in any trade today?



Quoting cesarnc
WASSSUPPP???

ooh..yeah... the dollar...
  • #156,325
  • Aug 7, 2009 3:19pm Aug 7, 2009 3:19pm
to all you gbp lovers out there...

next week you will be loving it if short and hating it if long

check out this weekly and weekly pattern last year.

the weekly pattern last year was a bit longer .. this year more condensed

http://www.bizjournals.com/orlando/s...1.html?ana=fox .. 4th largest bank in orlando 25 billion in assets going down

I mentioned a few weeks bak why gu is going down 3000 pip . MY theory has not changed and after what I saw this week has been reinforced.

why do I now have odd feeling we may see rate hike increases soon ... ie next week ..lol , the recession is over after all and the economy is rebounding nicely. what better smoke screen than to start raising rates.

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Blogging daily now at www.volume.zone
  • #156,326
  • Aug 7, 2009 3:20pm Aug 7, 2009 3:20pm
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
Hi Mohamed,

As per some experienced users , short term bias is SHORT, lol

Long term, we know it's LONG






Quoting mohamedrizal
Hey Guys ,

I'm a newbee....

Can you please tell me what you think will happen next week?

Will GBP go UP or continue Down?


Regards
  • #156,327
  • Aug 7, 2009 3:24pm Aug 7, 2009 3:24pm
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
Hey mal,

you sure buddy, 3000 pips...i wouldn't mind riding it anyways. but that means pound towards 150ishh....



Quoting malcolmb14
to all you gbp lovers out there...

next week you will be loving it if short and hating it if long

check out this weekly and weekly pattern last year.

the weekly pattern last year was a bit longer .. this year more condensed

http://www.bizjournals.com/orlando/s...1.html?ana=fox .. 4th largest bank in orlando 25 billion in assets going down

I mentioned a few weeks bak why gu is going down 3000 pip . MY theory has not changed and after what I saw this week has been reinforced.

why do I now have odd feeling...
  • #156,328
  • Aug 7, 2009 3:30pm Aug 7, 2009 3:30pm
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
who the heck is buying the pound now/this time???

these big boys play different
  • #156,329
  • Aug 7, 2009 3:39pm Aug 7, 2009 3:39pm
Quoting ams
Hey cesarnc,

it's due to treasury auction happening, and investors buying US equities.

hope it's temporary , lol :-)

were you in any trade today?
Nope...

Had to go out right after NFP.

I woulda made the wrong trade, though
  • #156,330
  • Aug 7, 2009 3:56pm Aug 7, 2009 3:56pm
Quoting ams
who the heck is buying the pound now/this time???

these big boys play different
profit taking...
  • #156,331
  • Aug 7, 2009 4:03pm Aug 7, 2009 4:03pm
Quoting mohamedrizal
Hey Guys ,

I'm a newbee....

Can you please tell me what you think will happen next week?

Will GBP go UP or continue Down?


Regards
Let me get changed into this first....

Have a good weekend everyone!
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  • #156,332
  • Aug 7, 2009 4:08pm Aug 7, 2009 4:08pm
Quoting direct-trade
Let me get changed into this first....

Have a good weekend everyone!
http://i2.photobucket.com/albums/y28/cesarnc/jolie5.jpg
  • #156,333
  • Aug 7, 2009 4:33pm Aug 7, 2009 4:33pm
Quoting nAVIN2007
profit taking...
You're correct, Navin. It's just traders in NY squaring their books before the weekend. Given the reduced volume at this time, it can result in the small jumps in the price that we saw earlier.

Have a good weekend!
  • #156,334
  • Aug 7, 2009 4:37pm Aug 7, 2009 4:37pm
Quoting gammase1
You're correct, Navin. It's just traders in NY squaring their books before the weekend. Given the reduced volume at this time, it can result in the small jumps in the price that we saw earlier.

Have a good weekend!
hi there,

I`m very curious of how you`d interpret today`s correlation between USD and equities. I always highly value your opinion. Could this be some interest rate hike speculational positioning ?

I`d appreciate your thoughts on that.
Thank you Malcolm, Belekas, Jim, raczekfx and Ryanmcd !
  • #156,335
  • Aug 7, 2009 4:43pm Aug 7, 2009 4:43pm
Quoting djambazov84
hi there,

I`m very curious of how you`d interpret today`s correlation between USD and equities. I always highly value your opinion. Could this be some interest rate hike speculational positioning ?

I`d appreciate your thoughts on that.
Hi,

Take a look at my post from earlier today... Cheers

http://www.forexfactory.com/t/10378/...ml#post2939348
  • #156,336
  • Aug 7, 2009 5:42pm Aug 7, 2009 5:42pm
NFP comes out very very good which I think sets the tone for the rest of the month. My anticipatiion for the early part of the next week is she will try to get back in 1.69 handle as the equities market ended in positive gains and the early part of the next week do not have any major news for GBP, so hoping to go up next week. It is so far good that G/U holds around the first support that is 1.6690 so anything could happen next week but most probably going towards the first resistence 1.6770 then up and up and up

Have a nice weekend everybody...

Thanks,
Alqaz Syed.
  • #156,337
  • Aug 7, 2009 8:17pm Aug 7, 2009 8:17pm
well lookie what we have here ...

Weekly price had closed being rejected at the subutl 4 on my chart & had formed a shooting star. I guess my short tp target @6585 looks likely since this formation usually offers higher chance of a correction AT LEAST. Will be interesting to see if next week could close bearish & complete an evening star formation.
Guess I won't be buying any dips until next weekend then

We be selling going into the next week. Good luck & enjoy the weekend friends

p/s : by the way, the long term trend is still DOWN.
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Thank You
  • #156,338
  • Aug 8, 2009 12:36am Aug 8, 2009 12:36am
Next week it will still go down till 1.6530 or might be down till 1.6474....

Yesterday was a nice closing week to sell...
  • #156,339
  • Aug 8, 2009 12:53am Aug 8, 2009 12:53am
Quoting wormboy
well lookie what we have here ...

Weekly price had closed being rejected at the subutl 4 on my chart & had formed a shooting star. I guess my short tp target @6585 looks likely since this formation usually offers higher chance of a correction AT LEAST. Will be interesting to see if next week could close bearish & complete an evening star formation.
Guess I won't be buying any dips until next weekend then

We be selling going into the next week. Good luck & enjoy the weekend friends

p/s : by the way, the long term trend is still...

Wormboy, thanks for that, I missed it as I haven't looked at weekly for a while.
  • #156,340
  • Aug 8, 2009 1:13am Aug 8, 2009 1:13am
Quoting forexlion
how do you add +70 and -70 levels ??
forexlion sorry for my late replay i wasnt able to moify the dot indicator. if you want to add levels to normal macd just go inputs/add levles make one .0007 and the other -.0007. id say it would make an alright ea.
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