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Cable Update (GBPUSD)

  • #195,721
  • Jan 25, 2010 11:37am Jan 25, 2010 11:37am
Poor shorts



And to think the market was soo bearish

(This is why I love ff, my perfect contrarian service)

Im just surprised the buyers got in at an "awful" level, 1.61 - i thought the big guys would hold off until 1.58 ... guess they got impatient. Normally they'd hold off until the retail crowd have felt enough pain. I was hoping for more pain!!!

I laughed my head off at daily' fx's trade signal to sell at 1.6088

The British economy isn't dead yet, it wasn't the financial epicenter at one point for nothing.

Oh ... short at 1.6245 for a quick 20 pips. See you either at the 1.57-59 level or slightly above 1.70
  • #195,722
  • Jan 25, 2010 11:43am Jan 25, 2010 11:43am
Sorry, I was just joking about 100 years and explosion.

As for MA's, they are simple 14, 50, 100 and 200.


Quoting fourxtrader
You give a 4h chart and start talking 100 years?

What are the MA's on your screen?

Can you give us a good basis for your claim? Then I might
then put on my sack cloth and ashes.

I thought I was the only one that used the "e" word.

I do like charts with MMA confluence / convergence / compression.

Since we are approaching the absurd, why not take your chart
[color=blue][i]out...
  • #195,723
  • Jan 25, 2010 11:49am Jan 25, 2010 11:49am
who's with me that gbp usd is gonna rise over the next few weeks?
  • #195,724
  • Jan 25, 2010 11:54am Jan 25, 2010 11:54am
M5/M15/M30 show move more up still prevail, stuck at WP 1.6216 !
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #195,725
  • Jan 25, 2010 12:16pm Jan 25, 2010 12:16pm
what's the main reason for such a bullish movement while the others (eur aud)
r down or flat?
  • #195,726
  • Jan 25, 2010 12:18pm Jan 25, 2010 12:18pm
Quoting Shad
Nope !

So Sorry , Looks Like U Didn't Get What I Exactly Meant !

I Didn't Mean Levels !

Just wanted to say thanks man. I woke up this morning to that trade closing for +55. I'm still riding my E/U short & U/J long.

Good morning guys,

Donnie
  • #195,727
  • Jan 25, 2010 12:19pm Jan 25, 2010 12:19pm
Technically I have ruled out GBP going downward, the charting set up of GBP now is explosion to upward, its one way to the moon
  • #195,728
  • Jan 25, 2010 12:24pm Jan 25, 2010 12:24pm
Quoting Jassim
Technically I have ruled out GBP going downward, the charting set up of GBP now is explosion to upward, its one way to the moon
Not quite, there is never a free lunch in trading...unless an idiot appears on the mic.


It'll be a longggg and choppy road north, if thats where this is headed. I can imagine wild 250-350 pip swings.


London is quite different from Germany, or the Us for that fact.

If it's one group of traders I fear and respect it's those from London.
  • #195,729
  • Jan 25, 2010 12:26pm Jan 25, 2010 12:26pm
Quoting sohail212
Sorry, I was just joking about 100 years and explosion.

As for MA's, they are simple 14, 50, 100 and 200.
That's ok. This is the perfect place for embellishments and
exaggerations. Welcome to the MMA asylum.

There are a number of traders here who use multiple moving
averages on their charts. I find that the pattern that forms
rather than the specific indicated price of MA's is very useful.

Switch over to some EMA's and you'll see the reaction in the
MA's will follow more closely with the price action.

Here's a compression chart that is ripe for movement using
EMA's. And the same charts using SMA's.. nothing but pop art.
See the difference?

I use the patterns that form from multiple EMA's as a timing
indicator and a signal of imminent EXPLOSIVE MOVEMENT when
a gathering, convergence and tight compression appears, on any
TF. Here's what I use: ([6], 18, 36, 54, 72, 90, 108, 126, 144)

Use the major SMA's (or EMA's) individually as areas of support or
resistance or target zones to respect.

You'll seldom ever see the CRS phenomenon using SMA's.
CRS: compression - release - separation


Dr. D.
Attached Images
  • #195,730
  • Edited 12:41pm Jan 25, 2010 12:28pm | Edited 12:41pm
Quoting Warwick
Not quite, there is never a free lunch in trading...unless an idiot appears on the mic.


It'll be a longggg and choppy road north, if thats where this is headed. I can imagine wild 250-350 pip swings.


London is quite different from Germany, or the Us for that fact.

If it's one group of traders I fear and respect it's those from London.

Sure, a wild swing to the North does also fit the current set up....and it will be a real wild swing....so, better go long on downswings and short the rallies ..its all about timing...
  • #195,731
  • Jan 25, 2010 12:34pm Jan 25, 2010 12:34pm
Quoting Jassim
Sure, a wild swing to the south does also fit the current set up....and it will a real wild swing....so, better short the rallies...

Not ready to hit the sell button yet....the market is trying to find sellers at this level..

Price will drift to a level where sellers are present, as per price action I cant see any at this level, esp. considering imp. data tomorrow, sellers are hiding...They are waiting for a better price level... I cant blame them really.
  • #195,732
  • Edited 2:22pm Jan 25, 2010 12:37pm | Edited 2:22pm
so whats happened?? our long come early??
....how lucky i'm...., if i did not sleep, i probably in short...,


some person here such Ctic and wormy have to take responsibility for this movement...,
in reuter network chat, the bank said :

"they already know our plan Sir.., some guys talked it in damn FF thread.., let's change to the plan B..,"


so guys next time if some one knows about something just ....,
I will be the number one Manager.
  • #195,733
  • Jan 25, 2010 12:38pm Jan 25, 2010 12:38pm
Short from 1.6230, SL 1.6260, TP 1.6165.

Fibonacci 3h:
Attached Image
  • #195,734
  • Jan 25, 2010 12:40pm Jan 25, 2010 12:40pm
Quoting Fibo_trader
Short from 1.6230, SL 1.6260, TP 1.6165.

Fibonacci 3h:
Attachment



Good luck
  • #195,735
  • Jan 25, 2010 12:41pm Jan 25, 2010 12:41pm
gbp is in ema 200,50 zone and stall in middle of a channel on daily chart
if can pass and hold above 1.6240 -50 upper side of channel can be expected
else can drop down like a rock
Attached Image (click to enlarge)
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  • #195,736
  • Jan 25, 2010 12:51pm Jan 25, 2010 12:51pm
Quoting uraceulose
Just wanted to say thanks man. I woke up this morning to that trade closing for +55. I'm still riding my E/U short & U/J long.

Good morning guys,

Donnie


Man ...!?

* Never Trust To Any Indicator *
  • #195,737
  • Jan 25, 2010 12:54pm Jan 25, 2010 12:54pm
Quoting peyman
what's the main reason for such a bullish movement while the others (eur aud)
r down or flat?
They are betting on good data tomorrow. Deja vu all over again
  • #195,738
  • Jan 25, 2010 1:04pm Jan 25, 2010 1:04pm
Quoting peyman
gbp is in ema 200,50 zone and stall in middle of a channel on daily chart
if can pass and hold above 1.6240 -50 upper side of channel can be expected
else can drop down like a rock

Using only the 50 and 200 ema's:

With the compression pattern that is forming on the daily,
explosive is the move... in either direction, so don't rule out
the possibility of ALSO shooting up like a rocket, just as well
as dropping like a rock.

The last time the 50 and 200 ema's (and all the other ema's
in between) were touching was 7-8/08 and it dropped like a rock
for 6,000 + pips.

Now they are coming together again slowing as before; yet, not
quite touching but still running near parallel as before.

Simply a crossing of the 50 and 200 does not count in this discussion.
Compression patterns build up large amounts of energy to drive
the price... relative to the TF. So on a daily, if it continues to
form, expect and welcome huge movement again.

Dr. D.
Attached Images
  • #195,739
  • Jan 25, 2010 1:13pm Jan 25, 2010 1:13pm
Thanks Dr. D. I will try your settings.

Thanks

Quoting fourxtrader
That's ok. This is the perfect place for embellishments and
exaggerations. Welcome to the MMA asylum.

There are a number of traders here who use multiple moving
averages on their charts. I find that the pattern that forms
rather than the specific indicated price of MA's is very useful.

[i][color=blue]Switch over to some EMA's...
  • #195,740
  • Jan 25, 2010 1:16pm Jan 25, 2010 1:16pm
Hi All,
It is very obvious. Cable don't like to stay above 1.67 (green area)
nor stay under 1.60 (blue area). it likes the brown area since 27 May 2005
till now.
So, why we think about the big fall or big rise.
it is very simple. if we are near the buy zone, we should be
only think of buying till the price breakdown the buy zone
boundary so we can expect the big fall. and vice versa.
Attached Image (click to enlarge)
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