Cable Update (GBPUSD)

Exactly

All this is getting so move on

err ... i have no idea about the supply zone and demand zone ... where to get information on that ... ?

just making a wild guess : are they just another way to say for resistance and support .... ?

sorry for this stupid question ...

thanks


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Israelis are only honest with others because they're dishonest within their respective cliques. Israel is hyper-divided into insulated groups, each with their own agenda. It's like a boiling pot, there's so many and each group in a bubble, since so many want to be in Israel.
That leaves some groups on the outskirts of Israel, fighting to get in. So, the majority of Israel is too busy trying to live a normal life under continual threat from these other groups.
I'm not saying these other groups may or may not be justified, I'm only describing the situation as it seems now to me.
This type of living leaves many Israelis always looking for the next advantage (conscription into the armed forces at a certain age for most groups in Israel perhaps being a contributing factor (generally a good thing, I'd imagine)), which is a cutthroat attitude. Isolate a person like this from dependency on other groups, say through emigration, and such a cutthroat person could be a danger. And I'm saying an Israeli or person living near Israel from any social group that lives under these conditions, so as not to appear favorable to any one group.
In short, Israelis are honest to visitors, because they are not a competitive threat, and threat is a huge problem there.

I hope this doesn't distract from the overall message of your post, which is rightfully admirable.

I agree, this is only my second post here but I have been following this thread for a long time. I have learned a lot from Cloggie and I thank him for that. I have been trading for four years and making a living at it for two years, Because it took me the first two to learn that I did not know everything. There is still a lot more to learn and I thank Cloggie for his teaching.

We need more of this advice. Let's make sure Cloggie stays around to give more of it![/quote]

rgds,iqyu
http://www.forexfactory.com/showpost...&postcount=703

You will find plenty of information and links in the 1st post on Priceaction's thread http://www.forexfactory.com/showthread.php?t=255586

seems like the pound has peeked out, more investors are heading towards the Euro, just seems that way, when the Euro is hot people flock to it and has less interests in other currencies

This is the 4h chart of GBP/USD, the market gives us a very good opportunity to long for it, pending order long at 1.5830 and stop loss at 1.5776

gu range play may come into effect .... 1.5700 to 1.5850 , maybe 1.5700 to 1.5500 , money printing machine ... just a little more work

thanks !

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second to dat

Good evening all,

What do ideally longs need:
1. strong G
2. Weak U

What do ideally shorts need:
1. Weak G
2. Strong U

What do we have:
1. Weak G
2. Weak U

Chances of improving G are slim imo, weak economic data, too high inflation QE2 thread
Chances of improving U are very complicated, USDX nearing 78 (lower upward trend level) positive, possible QE2 negative, economic data negative, intervention threads EUR and YEN positive.
So USDX development is imo dominant, my bias USD will recover and GU will drop, USDX chart will tell.....

I chanced a long @ 15785 with a small lot - I see some support

Or you see a GAP

Ha-yeah!TP few pips short of Friday close...about 30 pips.Think about SL below Sep28 low (15760 area)

A rare shot at my analysis of Cable for the coming session.

A review of the monthly chart shows that October has been a mildly bullish month for every year since 2002 except for 2008 when we experienced the ‘credit crunch ’. During that particular year October was the worst single month of the crunch. The monthly down trendline that started in July 2008 was clearly broken last July and may form no further part in cable analysis. The monthly up trendline that started in January 2009 is still relevant but not for this week I think.



The daily chart shows us a large cup pattern. I have never noticed a cup and handle in forex but they are considered a powerful bullish formation in stocks. The cup pattern alone is a pattern I have noticed in the past to be very bullish. The two trendlines of interest to me here are the one coming in from the top with a current value of about 1.5868 and the one starting mid may with a current value of about 1.5536. This range is marked by the blue horizontal lines.



The hourly shows two more recent and playable short term trendlines one starting at 1.5921 and the other 1.5668. The moving average show a bullish momentum but with the faster MA just beginning to curl over, possibly indicating the start of a bearish move.



The M15 shows in more detail price being rejected by the upper trendline mentioned above. In fact once price got below 1.5840 area it failed to get back above apart from a little action after the close which itself was reject at a new touch of the trendline. I would consider this an excellent entry for a short but perhaps not so late on a Friday night!. Two sets of fib lines on this chart with the 38.2 of one coinciding with the 50 of the other at 1.5794. This represents my near target area.



Two pieces of news this week that may be direction changing, US Non farm payroll and GB Asset purchase facility (QE2). The market expects QE2 to remain unchanged at 200Bn, and the market is usually correct. However with the UK due to announce it’s ‘Austerity measures’ this month the BoE may just want to pre-book a 50Bn QE2 buffer ahead of that. NFP often has the effect of restricting the market prior to announcement only to come in as expected and provide no real market move.

So in summary, my plan A is I expect a narrow band market pretty well between the trendlines shown on the M15, I will be selling the touches above and buy the touches below.. Mid week we may see some more violent moves around QE2 news time followed by more narrow band (but possibly in a new area) leading into NFP. Plan B if we break below the lower line which puts me into a wide band area where I will initially play for 1,5740 area, 1.5670 and then for a touch of the lower trendline off the hourly and look for a tighter area to form. Plan C is to get long on a break above 1.5868 and look for 1.5990, 1.6150 and October to play out as a bullish month again.

I just have to mention... what a day for the Europeans in the Ryder Cup! Sill all to play for tomorrow but with a 3 point lead, the Americans are going to have to play some awesome golf in order to retain the cup.

stop is now@breakeven-only 13 pips,but if ema200 15m doesn't hold,its further weakness,imo

I bet they never hold it in Wales again,lol

Where do you trade at this hour?