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Cable Update (GBPUSD)

  • #269,781
  • Jan 24, 2011 12:38pm Jan 24, 2011 12:38pm
Quoting Articulate
Thanks for your observation. The insurance policy for my analysis is the concrete zone. Once a concrete zone is identified, it is easier to trap price within the zone and observe it closely like a monkey in a cage. For the monkey to escape it has to leave the cage. The monkey can raise its arm, leg, tail outside the cage, but until the head and the shoulder come out of the cage, the monkey is still trapped.
Became interested in this concrete zone strategy
What is the source for the details
Thank you in advance

  • #269,782
  • Jan 24, 2011 1:23pm Jan 24, 2011 1:23pm
Unless it breaks and holds above DR which i have at 1.6001 ..last time was 19 jan.. i am holding my short at 15985.
Attached Image (click to enlarge)
Click to Enlarge Name: Spot FX GBP_USD (24-JAN-11).png Size: 18 KB
All systems of divination, like music itself,work through patterns.
  • #269,783
  • Jan 24, 2011 2:01pm Jan 24, 2011 2:01pm
Quoting PoundTrader
still long at 1.5959, t/p 1.6108. upside is looking good.
t/p change on my long to 1.6069
Attached Image (click to enlarge)
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  • #269,784
  • Jan 24, 2011 3:37pm Jan 24, 2011 3:37pm
Gosh, I was short biased since last weekend and folks are finding that late =)

I guess that's it's going to be a doji today. Yay...
  • #269,785
  • Jan 24, 2011 3:51pm Jan 24, 2011 3:51pm
Quoting matlock
Gosh, I was short biased since last weekend and folks are finding that late =)
Bias imho is not an option in this sort of market. We each trade what we see. We are here for discussion and well able to make our own decisions . E.G. i've been long.short long short since early gmt.only holding my short at the mo cos the momo's gone slow and i love having a trade running.oops back to b/e as we speak.
All systems of divination, like music itself,work through patterns.
  • #269,786
  • Jan 24, 2011 4:24pm Jan 24, 2011 4:24pm
Quoting PoundTrader
t/p change on my long to 1.6069
shorts will come into play this week, best to wait for confirmations
  • #269,787
  • Jan 24, 2011 5:04pm Jan 24, 2011 5:04pm
Green Pips...

http://3.bp.blogspot.com/_eJeoUej2Uk...25-01-2011.png

http://1.bp.blogspot.com/_eJeoUej2Uk...2011-Table.png
  • #269,788
  • Edited 5:30pm Jan 24, 2011 5:05pm | Edited 5:30pm
In my humble opinion; this chart is bullish for GBP from 26-Jan-2011 12:58 GMT to 01-02-2011.

GBPUSD Buy.
GBPJPY Buy.
Stop Loss 40 pip.

The use of Stop Loss is always important.
Good lock to All.
.
http://img841.imageshack.us/img841/2...r26jan2011.jpg
.
http://img202.imageshack.us/img202/4...0111258gmt.jpg
.
http://img831.imageshack.us/img831/9...0111258gmt.jpg
  • #269,789
  • Edited 5:46pm Jan 24, 2011 5:17pm | Edited 5:46pm
Quoting PoundTrader
shorts will come into play this week, best to wait for confirmations
They will be coming into play earlier than you think. Prelim GDP figures out tomorrow and December was a month where the country practically shut down because of snow. The coalition Government are being lambasted for not doing a good job and failing with the policy of creating new jobs, yet carrying out deep cuts in the public sector creating higher unemployment. Talk in the news is about slipping back into recession and the numbers will speak for themselves.

I don't trade the news but it is important to keep a macro-fundie view in the back of one's mind as this ultimately drives currencies. We have the MoM on Wednesday and last time the result was 1-1-7* (I discuss this in a later post!). The recent spurt in Sterling has been because of rising inflation figures which will force the BoE to raise interest rates. If the economy is faltering, the BoE will continue to sit on their hands, as they did this month! The BoE is between a rock and a hard place, but the figures out due tomorrow at 09:30 GMT will be the driver of any GBP pair.

Here is my post from Sunday where I overlooked the prelim GBP figures coming out tomorrow!

Quoting bbakker
I see cable ranging between 1.5837-1.6093 (~250 pips) until the report comes out! What happens then is anyone's guess! I could be wrong of course.

I prefer to open a short position on GBPCHF or GBPAUD or any other GBP pair. GBP and USD are both in the shite, whereas AUD is doing well even with the recent floods and CHF is a safe-haven currency. Saying that the Swiss are gathering around to discuss how they can combat the strengthening of their currency. They tried that in the past and failed miserably! Let's see what happens!
My shorts are working out nicely on the other GBP pairs. It is the weak dollar which is keeping this pair up!
  • #269,790
  • Jan 24, 2011 5:19pm Jan 24, 2011 5:19pm
Quoting Suryananda
In my humble opinion; this chart is bullish for GBP from 26-Jan-2011 12:58 GMT.

GBPUSD Buy.
GBPJPY Buy.
Stop Loss 40 pip.

The use of Stop Loss is always important.
http://www.forexfactory.com/showthre...85#post4339985
I thought M was voodoo boodoo, but this takes it to a whole new level

With M's voodoo boodoo, it actually works, but I ain't going to try this sheeeet out!
  • #269,791
  • Jan 24, 2011 5:31pm Jan 24, 2011 5:31pm
In my humble opinion; this chart is bullish for GBP from 26-Jan-2011 12:58 GMT to 01-02-2011.

GBPUSD Buy.
GBPJPY Buy.
Stop Loss 40 pip.

The use of Stop Loss is always important.

Good lock to All.

http://www.forexfactory.com/showthre...85#post4339985

http://img841.imageshack.us/img841/2...r26jan2011.jpg
.
http://img202.imageshack.us/img202/4...0111258gmt.jpg
.
http://img831.imageshack.us/img831/9...0111258gmt.jpg
  • #269,792
  • Edited 5:45pm Jan 24, 2011 5:35pm | Edited 5:45pm
Quoting bbakker
... last time the result was 6-1-1...
I stand corrected, it was 1-1-7 (Not 1-0-8 as per the FF calendar)... there are 9 of the little buggers!

If you don't believe me, you can read December's MoM here - http://www.bankofengland.co.uk/publi...10/mpc1012.pdf (Paragraphs 30-33 are the best ones to read, if you can't be bothered to read the whole report!)

Well, actually come to think about it, technically it is 1-0-8 as only 1 member wanted to increase rates and no one wanted to decrease interest rates, but at 0.5%, there is not much left to cut. One member wanted more QE which is effectively like cutting interest rates, which is why I am sticking to my 1-1-7 figure, because there are 3 different views amongst the members!
  • #269,793
  • Jan 24, 2011 5:38pm Jan 24, 2011 5:38pm
Quoting Suryananda
Good lock to All.
I think you mean luck! Lock means "cerradura" in Spanish.
  • #269,794
  • Jan 24, 2011 5:48pm Jan 24, 2011 5:48pm
Quoting Suryananda
In my humble opinion; this chart is bullish for GBP from 26-Jan-2011 12:58 GMT to 01-02-2011.

GBPUSD Buy.
GBPJPY Buy.
Stop Loss 40 pip.

The use of Stop Loss is always important.
Good lock to All.
.
http://img841.imageshack.us/img841/2...r26jan2011.jpg
.
http://img202.imageshack.us/img202/4...0111258gmt.jpg
.
http://img831.imageshack.us/img831/9...0111258gmt.jpg...
really?
you gotta be kidding me...
  • #269,795
  • Jan 24, 2011 5:57pm Jan 24, 2011 5:57pm
Quoting greenuns
really?
you gotta be kidding me...
The markets move in mysterious ways
  • #269,796
  • Jan 24, 2011 6:11pm Jan 24, 2011 6:11pm
Quoting Suryananda
Looks like it is starting to form the turning point at the appointed hour of the Full Moon.

Full Moon 19-jan-2011 21:21:10 GMT

GBPUSD Sell
Well cue the spooky music.... ... not a stop-loss in sight ...
Attached Image (click to enlarge)
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  • #269,797
  • Jan 24, 2011 6:17pm Jan 24, 2011 6:17pm
Does Anybody Knows With a good reason ... What Happen Since Monday Cable is seems STUCK !!!
  • #269,798
  • Jan 24, 2011 6:59pm Jan 24, 2011 6:59pm
Quoting deryworlds
Does Anybody Knows With a good reason ... What Happen Since Monday Cable is seems STUCK !!!
Read my posts again and you will find the answer.
  • #269,799
  • Jan 24, 2011 6:59pm Jan 24, 2011 6:59pm
Quoting chazzle
Well cue the spooky music.... ... not a stop-loss in sight ...
lol
  • #269,800
  • Jan 24, 2011 7:00pm Jan 24, 2011 7:00pm
Quoting deryworlds
Does Anybody Knows With a good reason ... What Happen Since Monday Cable is seems STUCK !!!
have a good one
Attached Image (click to enlarge)
Click to Enlarge Name: untitled.PNG Size: 56 KB
Thank You
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