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Cable Update (GBPUSD)

  • #197,301
  • Feb 1, 2010 2:15am Feb 1, 2010 2:15am
I still have longs in--maybe not for long hehe/I'll break ahead no matter since I've already collected from the move earlier
  • #197,302
  • Edited 2:22am Feb 1, 2010 2:15am | Edited 2:22am
Missed out on the short last week when .61133 was broken

Still flat. Murrey Math tells me that I should be looking for a buy now as it is hovering around the +[1/8] Mark. I'm a little dubious as this would only be a fast reversal/retrace. Also, the EMAs have only just been broken and a continued trend (in this case down) needs one retest of the blue 200EMA before continuation. If it does do this in the next 1-2 days, I'll be short at whatever that price is.

4H and 1H show that buyers starting to come in. I'm gonna wait. If after the retrace price stalls and hovers at 1.58691 or 1.58081 I'm LONG. Someone mentione 1.57? It will be interesting to see if it can get there. If it does, it will be a strategically good LONG (ie. -[1/8] = extraordinarily good bounce / but risky if it breaks).

Watching and waiting.

Safe trades folks!
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: gbpusd 4h.gif Size: 47 KB
Click to Enlarge Name: gbpusd 1h.gif Size: 49 KB
A pip is only worth it if you know how much you risked to earn it
  • #197,303
  • Feb 1, 2010 2:19am Feb 1, 2010 2:19am
Quoting skiffx
Bulls have no steam, it might just fall further to 1.58
but I still believe to see prices go above (or at least test) 1.6000 before any sustainable downward move.
Don't tell me how much you can earn. Tell me how much you may lose..
  • #197,304
  • Feb 1, 2010 2:20am Feb 1, 2010 2:20am
Quoting vlady1974
Missed out on the short last week when .61133 was broken

Still flat....
why long?wouldn't you be looking for shorts/US bullish mode now (for a while? Just wondering--seems you use longer timeframes thats why I ask
  • #197,305
  • Feb 1, 2010 2:21am Feb 1, 2010 2:21am
Quoting Fly2
umm I said I didn't write that but here-If FF don't want this on here they can delete this post--http://www.dailyfx.com/forex/technical/home/analysis/gbp-usd/2010-02-01-0735-GBP_USD_Classical_02_01.html
Didn't realise that you didn't write it.

Don't get me wrong its not that I don't like it, I thought it was good but without good technical reasoning (chart).

I agree with what was written cos its exactly what i posted on my chart.
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #197,306
  • Feb 1, 2010 2:22am Feb 1, 2010 2:22am
Quoting skiffx
Bulls have no steam, it might just fall further to 1.58

U'all should go SHORT... And burnt. Haa!! For me LONG till Ny session... Thanks
  • #197,307
  • Feb 1, 2010 2:24am Feb 1, 2010 2:24am
Quoting Bull_Bear
Didn't realise that you didn't write it.

Don't get me wrong its not that I don't like it, I thought it was good but without good technical reasoning (chart).

I agree with what was written cos its exactly what i posted on my chart.
no worries-I meant that as it makes you feel better with your decision as to what you at looking at when other analyst are on the same page are you are
  • #197,308
  • Feb 1, 2010 2:28am Feb 1, 2010 2:28am
Quoting Fly2
why long?wouldn't you be looking for shorts/US bullish mode now (for a while? Just wondering--seems you use longer timeframes thats why I ask
Shorts on the hourlies (4 and 1) yes. Gonna wait for the retrace to get in short.

Longer term, the 2 previous LONG trades (find GlobalMacro) have been off the +1/8 (Yellow Line), characteristically the fast reversal line. If this is tested, IT WILL BOUNCE. If broken (whenever this happens, the blue line 1.56250 will be the ultimate LONG position.

Essentially, price on the DAILY chart has entered Murrey Math BUY ZONE. Short all you want on short time frames, but be mindful of these major resistence markers. I could post historical charts, but that would be me trying to "sell" Murrey Math, which I'm not cos it's free. Just trying to put out a different view to other Elliot, UTLs/LTLs, Fibs, etc.

Safe trading!
A pip is only worth it if you know how much you risked to earn it
  • #197,309
  • Feb 1, 2010 2:30am Feb 1, 2010 2:30am
Quoting skiffx
Bulls have no steam, it might just fall further to 1.58
Well, I asked for your technical reasoning but you are unable to provide it.

Another "clown", one of the many here.
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #197,310
  • Feb 1, 2010 2:35am Feb 1, 2010 2:35am
[quote=vlady1974;3418526]Shorts on the hourlies (4 and 1) yes. Gonna wait for the retrace to get in short.
ok/I'm not familiar with Murry Maths/I'm just a 60 sma/and stochcastics user/with trendlines and fibs. other than that I look at naked charts to determine where price will go.Works for me.
I see people with 6 zillion indicators on charts and I don't get it.I find it to confuse me.I like Simple.

Safe trading! to you too
  • #197,311
  • Feb 1, 2010 2:36am Feb 1, 2010 2:36am
Quoting Fly2
umm I said I didn't write that but here-If FF don't want this on here they can delete this post--http://www.dailyfx.com/forex/technical/home/analysis/gbp-usd/2010-02-01-0735-GBP_USD_Classical_02_01.html
I don't think it is fair to quote extensively without naming the source - makes one appear wiser than... For that matter, most people here know the various sources of comments and I believe could be reading them, so it might be enough to just point out the source of any interesting news appearing elsewhere. Even this is perhaps not fair to FF. This is FF - it does not prohibit anyone from visiting other pages but is it really fair if FF pages becomes "Reprints" of other news vendors ? Then these pages will become full of quotes from Bloomberg, Reuters etc etc.
  • #197,312
  • Feb 1, 2010 2:41am Feb 1, 2010 2:41am
Quoting vilas
I don't think it is fair to quote extensively without naming the source - makes one appear wiser than... For that matter, most people here know the various sources of comments and I believe could be reading them, so it might be enough to just point out the source of any interesting news appearing elsewhere. Even this is perhaps not fair to FF. This is FF - it does not prohibit anyone from visiting other pages but is it really fair if FF pages becomes "Reprints" of other news vendors ? Then these pages will become full of quotes from Bloomberg,...
Look Whatever ! someone thought I wrote and questioned me with no chart or the source.I told them I didn't write it and provided the source.Nuff said.If I can delete I will.Scroll up some post
  • #197,313
  • Feb 1, 2010 2:44am Feb 1, 2010 2:44am
might retest the daily low and bounce back up for strong surge....we'll see
  • #197,314
  • Feb 1, 2010 2:47am Feb 1, 2010 2:47am
Quoting joemiami
might retest the daily low and bounce back up for strong surge....we'll see
if you use pivots we are at s1 now
  • #197,315
  • Feb 1, 2010 2:49am Feb 1, 2010 2:49am
Quoting joemiami
might retest the daily low and bounce back up for strong surge....we'll see
Daily low has been ammended already but selling pressure is just to strong ATM. Should bounce back up but chances are thin?
Don't tell me how much you can earn. Tell me how much you may lose..
  • #197,316
  • Feb 1, 2010 2:54am Feb 1, 2010 2:54am
Quoting Fly2
if you use pivots we are at s1 now
S1 @ 1.5916 & Fib S2 @ 1.5925 both have been violated so far. However I think GU has very limited scope for the downward move just yet. All charts 4H and before are kind of oversold so a bounce is viable.
Don't tell me how much you can earn. Tell me how much you may lose..
  • #197,317
  • Feb 1, 2010 2:54am Feb 1, 2010 2:54am
Quoting Bull_Bear


Care to share your view as to why?
Based on how the price is behaving, it just gets nailed every time it crawls up
  • #197,318
  • Feb 1, 2010 2:56am Feb 1, 2010 2:56am
i need retrace to 1.6063 is that possible??
  • #197,319
  • Feb 1, 2010 2:57am Feb 1, 2010 2:57am
Quoting quantz
i need retrace to 1.6063 is that possible??
Technically speaking yes it is possible
Don't tell me how much you can earn. Tell me how much you may lose..
  • #197,320
  • Feb 1, 2010 2:57am Feb 1, 2010 2:57am
Quoting skiffx
Based on how the price is behaving, it just gets nailed every time it crawls up
*CLICK*

Don't wanna waste my breath
Veni, Vidi, Vici (We came, we saw, we conquered)
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