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Cable Update (GBPUSD)

  • #237,581
  • Jul 13, 2010 6:35am Jul 13, 2010 6:35am
Quoting wormboy
So buying pressure had subsided & if the bearish harami off the W1 pvp is anything to go by, we are most likely looking at another test at the dp @5020.

Let's see how this goes.
Wormboy, not sure the Octopus screwed you, but he certainly had you by the tentacles
  • #237,582
  • Jul 13, 2010 6:35am Jul 13, 2010 6:35am
Re last post-5min hidden divergence.....Well we got a decent 5min trigger with close of the 1100am gmt 5min bullish hammer engulfing candle...and eventually a nice follow thru to a new HH/iday Hi..nice set-up

G/L
Attached Image (click to enlarge)
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ex member
  • #237,583
  • Jul 13, 2010 6:36am Jul 13, 2010 6:36am
A lot of money went into buying a few minutes ago.
Probability Professor
  • #237,584
  • Jul 13, 2010 6:38am Jul 13, 2010 6:38am
what happened? why the flag pole with 30pips?
  • #237,585
  • Jul 13, 2010 6:39am Jul 13, 2010 6:39am
Quoting PipMaxzz
what happened? why the flag pole with 30pips?
There doesn't have to be any particular reason, just some big buyers deciding to buy. We can't control or understand everybody who is buying and selling and their reasonings.
Probability Professor
  • #237,586
  • Jul 13, 2010 6:41am Jul 13, 2010 6:41am

Tuesday, July 13, 2010 04:39:15
(UK) UK Chancellor Osborne: EU Finance Ministers endorsed the UK emergency budget
- Says credibility is key component to stress test

  • #237,587
  • Jul 13, 2010 6:41am Jul 13, 2010 6:41am
I believe the reason it fell from the 1.5110 initial daily high was because of profit taking, and because a UK clearer was taking profit at that level.
Probability Professor
  • #237,588
  • Jul 13, 2010 6:44am Jul 13, 2010 6:44am
Quoting Galation
There doesn't have to be any particular reason, just some big buyers deciding to buy. We can't control or understand everybody who is buying and selling and their reasonings.
thank you! I beleive GBP will keep this bullish mode for soemtime
  • #237,589
  • Jul 13, 2010 6:44am Jul 13, 2010 6:44am
A big US bank also was said to have bought the EUR/GBP at 0.8315 which would have put pressure on the GBP/USD cross.
Probability Professor
  • #237,590
  • Jul 13, 2010 6:46am Jul 13, 2010 6:46am
Quoting Galation
A big US bank also was said to have bought the EUR/GBP at 0.8315 which would have put pressure on the GBP/USD cross.
Source?
  • #237,591
  • Jul 13, 2010 6:47am Jul 13, 2010 6:47am
Quoting OldReigatian
Source?
Gerry Davies - http://www.forexlive.com/
Probability Professor
  • #237,592
  • Jul 13, 2010 6:48am Jul 13, 2010 6:48am
Quoting wormboy
So buying pressure had subsided & if the bearish harami off the W1 pvp is anything to go by, we are most likely looking at another test at the dp @5020.

Let's see how this goes.

Spoke too soon
Thank You
  • #237,593
  • Jul 13, 2010 6:49am Jul 13, 2010 6:49am
Quoting OldReigatian
Wormboy, not sure the Octopus screwed you, but he certainly had you by the tentacles
lol .. nobody had me
Thank You
  • #237,594
  • Jul 13, 2010 6:56am Jul 13, 2010 6:56am
Quoting Galation
Gerry Davies - http://www.forexlive.com/
Cheers for the link. Good site, bookmarked.
  • #237,595
  • Jul 13, 2010 7:00am Jul 13, 2010 7:00am
before and after..
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  • #237,596
  • Jul 13, 2010 7:17am Jul 13, 2010 7:17am
1.5080 doing its job pretty well so far...even more so some huge buy order hit the market an hour ago around this level...this breakout base is cemented hard for the time being...
Attached Image (click to enlarge)
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Hear the music before the song is over ...
  • #237,597
  • Jul 13, 2010 7:19am Jul 13, 2010 7:19am
wow......we should listen to paul, the octopus. Paul said spain ..matador .....bull.........
  • #237,598
  • Jul 13, 2010 7:36am Jul 13, 2010 7:36am
Quoting bbmac
Re last post-5min hidden divergence.....Well we got a decent 5min trigger with close of the 1100am gmt 5min bullish hammer engulfing candle...and eventually a nice follow thru to a new HH/iday Hi..nice set-up

G/L

How much is divergence on a 5 min chart really worth but a scalp? Wouldn't you be better off looking for a bigger tf divergence in trend change?

I wonder why people put so many Indicators on their chart. It confuses the hell out of me. Too many confirmations needed plus lag.
Know when to hold em, Know when to fold em!
  • #237,599
  • Jul 13, 2010 7:39am Jul 13, 2010 7:39am
Quoting goods
How much is divergence on a 5 min chart really worth but a scalp? Wouldn't you be better off looking for a bigger tf divergence in trend change?

I wonder why people put so many Indicators on their chart. It confuses the hell out of me. Too many confirmations needed plus lag.
Agree..... simplicity makes profit....
  • #237,600
  • Jul 13, 2010 7:39am Jul 13, 2010 7:39am
Trade figures for the US are one of those perverse pieces pf data where bad data is actually good. A big trade deficit for the US usually illustrates a growing economy that is sucking in imports to be consumed. A narrowing deficit suggests slower economic activity, as we saw over the last two years.
We’ve seen slower data of late from the US so traders will look to a narrower deficit as a further sign of slowdown….
The consensus forecast is for a $39 bln deficit in May from $40.3 in April.

Source: forexlive.com
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