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Cable Update (GBPUSD)

  • #269,081
  • Jan 19, 2011 3:51am Jan 19, 2011 3:51am
Quoting vilas
London breakout and other such simple things work well - only trick is Money management and risk control.
Must investigate Bobokus/Simone fibs as you say ! Any info on that ? Where ? Thanks.
Hey Vilas... Im using breakout and a bit of Simones SFM as a combo at the moment.

Simones method is here http://www.forexfactory.com/showthread.php?t=222988

Bobokus is linked to in it, another guru with much to offer :-) He runs a paid membership site now: www.bobokus.com
  • #269,082
  • Jan 19, 2011 4:01am Jan 19, 2011 4:01am
Quoting Ma Baker

















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Put your hands in the air , Give me all your money ! !
  • #269,083
  • Jan 19, 2011 4:15am Jan 19, 2011 4:15am
post Uk data sell-off the 1hr double top (6036) off the yesterday/uptrend hi 6059, sees price arrive just above the 76.4% of that 1hr pullback 5930-6036 and just below the daily pivot.

Uk Boe Mpc Uber dove Posen speaks at 12 noon gmt.

G/L
ex member
  • #269,084
  • Jan 19, 2011 4:17am Jan 19, 2011 4:17am
By: Gerry Davies (from fxstreet)

EUR/GBP is trading higher, presently at .8420, with sources reporting a central bank buying decent amounts in the cross. This action will be helping pressure cable which has slipped below 1.6000, presently at 1.5985. I got this info a little while back, so isn't the most fresh. I've been trying to follow up on some scuttlebutt Im hearing regarding aussie.
  • #269,085
  • Jan 19, 2011 4:28am Jan 19, 2011 4:28am
gbp/usd
[strategy] look to buy on dips.
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  • #269,086
  • Jan 19, 2011 4:29am Jan 19, 2011 4:29am
Price has entered the 1st 1/2 opf that previous 1hr/4hr swing hi/lo zone, the swing lo created by the dip to the previous resistance then acting as support, the pullback recovery curtailed at 6036...is this where the buyers live ?........is this the start of the recovery or is there more downside ?

Time will tell.

G/L
ex member
  • #269,087
  • Jan 19, 2011 4:40am Jan 19, 2011 4:40am
Quoting bbmac
Price has entered the 1st 1/2 opf that previous 1hr/4hr swing hi/lo zone, the swing lo created by the dip to the previous resistance then acting as support, the pullback recovery curtailed at 6036...is this where the buyers live ?........is this the start of the recovery or is there more downside ?

Time will tell.

G/L

Bro

It stopped exactly at lower trendline 4 hr chart attached to the pip and has bounced up will have to wait and see if it is just retracement or real buying. Volumes dont really support this bounce

Balaji
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  • #269,088
  • Jan 19, 2011 4:41am Jan 19, 2011 4:41am
1min bullish divergence set-up led the way there.

G/L
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ex member
  • #269,089
  • Jan 19, 2011 4:49am Jan 19, 2011 4:49am
Quoting bbmac
1min bullish divergence set-up led the way there.

G/L
Yup, looks like bull wouldn't let her that easy.

If she can't go down further below 5490 and that bullish HD roll up to M15, then it might be pullback of uptrend continuation imo.

Deja Vu.

I'm still flat atm.
  • #269,090
  • Jan 19, 2011 4:50am Jan 19, 2011 4:50am
The 55 day moving average on the 1H has been acting as solid support since last week and continues to hold. The stochastics are pointing down for the moment but I am hoping for a test of todays high at least to get a better shorting price. If yesterday's high is broken then I will sell at 1.6130.

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You've got to be IN IT to WIN IT!
  • #269,091
  • Jan 19, 2011 5:01am Jan 19, 2011 5:01am
1hr closes as a pinbar !


G/L
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ex member
  • #269,092
  • Jan 19, 2011 5:06am Jan 19, 2011 5:06am
Price has reached 50% of the fall from yesterday's 6059 hi to today's current lo.

G/L
ex member
  • #269,093
  • Jan 19, 2011 5:24am Jan 19, 2011 5:24am
1min regular bearish divergence supported by hidden bearish divergence set-up on 5min at that 50% fib mentioned above...trouble is there is not much of an overall price action downtrend on 30min to re-enter after the pullback...more like a downmove than a downtrend on that t/f, at the moment....so not the highest probability price action circumstances for the set-up.

Wonder whether Posen will cause a further fall at 12noon start speech, or is he a known quantity swimming against the current tide. Fundie indicators are neither conclusively supportive or wholly contrary to the opposing view of monetary tighetning at the moment, (andew sentance etc on mpc.)

G/L
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ex member
  • #269,094
  • Jan 19, 2011 5:49am Jan 19, 2011 5:49am
On a 2nd look at the calendar here: Uk's Boe MPC member Posen is speaking @ 5pm gmt (sorry for confusion) not 12midday. Only FF.com has it in it's calendar, it is not on fxcm or fxstreet calendar. Whatever, I am finishing here for day.

G/L
ex member
  • #269,095
  • Jan 19, 2011 6:11am Jan 19, 2011 6:11am
Hello guys ,


For today i bought Cable at price 1.5990 TP 1.6100 SL 1.5910.We are in good chanel projection with very good stoping volumes on lower diagonal..


Cheers and happy trading


Petar
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"Buy on fear, sell on greed !!!
  • #269,096
  • Edited 6:33am Jan 19, 2011 6:13am | Edited 6:33am
Quoting Petar_Serbia
Hello guys ,


For today i bought Cable at price 1.5990 TP 1.6100 SL 1.5910.We are in good chanel projection with very good stoping volumes on lower diagonal..


Cheers and happy trading


Petar
i agree i even set higher tp
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Verily, in every difficulties there is relief
  • #269,097
  • Jan 19, 2011 6:53am Jan 19, 2011 6:53am
Interesting article on Bloombergs posted yesterday - think I also saw it on FF.

“Rate hikes are currency supportive only if they’re consistent with stronger economic growth.”
The currency will probably fall to $1.50 by year-end, he said. The pound climbed 0.5 percent to $1.5969 as of 2:14 p.m. in New York. Analysts have been cutting their forecasts for the pound versus the dollar this year, with the median of 29 estimates compiled by Bloomberg predicting sterling will end 2011 at $1.54, down from $1.59 at the end of last year...... Click here for the whole article http://www.bloomberg.com/news/2011-0...inflation.html

Won't be greedy so will target 1.5500.
May the forex be with you |
  • #269,098
  • Jan 19, 2011 8:02am Jan 19, 2011 8:02am
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Put your hands in the air , Give me all your money ! !
  • #269,099
  • Jan 19, 2011 8:21am Jan 19, 2011 8:21am
dont wanna disturb ur discussion here guys,

but dont you dudes think gu will retrace soon? just take a look at the chart...this seems to be quiet unreal without any terrorism acts and financial crisis : P

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Hero calls followed by margin calls...
  • #269,100
  • Jan 19, 2011 8:40am Jan 19, 2011 8:40am
Hi Phanti.. where do u think it will stop retracing?
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