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Cable Update (GBPUSD)

  • #276,601
  • Apr 15, 2011 9:36am Apr 15, 2011 9:36am
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
They are waiting for some euro bank results and G7/G20 meeting results and ireland results too...


Quoting _BBKing_
yes me too but i see my shorts on aud usd going wrong of 30 pips
and other pairs major gbp usd n eur usd actually stable

maybe all for next week.
looks like market waiting for something....................
  • #276,602
  • Apr 15, 2011 9:37am Apr 15, 2011 9:37am
Quoting ams
Are you shorting or going long?

Dollar is now holding things up with all the positive data coming.
Kiwi would blow off if dollar is bought or sold!

ta
ams
entered short...

Regards
  • #276,603
  • Apr 15, 2011 9:38am Apr 15, 2011 9:38am
Quoting TauTrader
good day,

Gonna invest a little bit in NZD. Since you brought it up. There is a lot of "those virgins" (divergence) present.

I know that our ZAR, the AUD and NZD has been prostituted through carry trades over the past months. So not a lot of confidence - but a stab and simmer with a 50 pip stop will be intersting to watch.

Have a great week end. Now off to shower - Sushi time tonight.

Regards
hello
i hope this would mean i will soon see my aud usd shorts going positive...
90% of traders use TA, indicators and prediction
  • #276,604
  • Apr 15, 2011 9:39am Apr 15, 2011 9:39am
Quoting ams
They are waiting for some euro bank results and G7/G20 meeting results and ireland results too...
gosh you are right

well... i will wait too!
90% of traders use TA, indicators and prediction
  • #276,605
  • Apr 15, 2011 9:42am Apr 15, 2011 9:42am
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
good luck matey...
I do not why, but seems someone loves this currency to death, it has done 1000 pips up round in one go and it doesn't want to stop!!
Well they are good commodity currencies so why not!


Quoting TauTrader
entered short...

Regards
  • #276,606
  • Apr 15, 2011 9:48am Apr 15, 2011 9:48am
Quoting ams
good luck matey...
I do not why, but seems someone loves this currency to death, it has done 1000 pips up round in one go and it doesn't want to stop!!
Well they are good commodity currencies so why not!
Good day to you,

It's all interest rate/ bond related.

ZAR, AUD and NZD - sound banking policy - higher interest rates. Carry traders dream. Borrow in Japan, UK and US for absolutely no or very low interest and invest in government bonds in South Africa, Australia and New Zealand.

Money for Jam.

No problem.

Regards
  • #276,607
  • Apr 15, 2011 9:51am Apr 15, 2011 9:51am
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
I do understand the carry trade but it seems the only way down is in flash crash as market is quite bullish and can go like this for another few months until fed starts tightning or withdrawing liquidity! Only way is UP for comm curr.



Quoting TauTrader
Good day to you,

It's all interest rate/ bond related.

ZAR, AUD and NZD - sound banking policy - higher interest rates. Carry traders dream. Borrow in Japan, UK and US for absolutely no or very low interest and invest in government bonds in South Africa, Australia and New Zealand.

Money for Jam.

No problem.

Regards
  • #276,608
  • Edited 10:08am Apr 15, 2011 10:04am | Edited 10:08am
Long @ 1.6314 . SL 1.6275 area

Regards
  • #276,609
  • Apr 15, 2011 10:10am Apr 15, 2011 10:10am
Quoting Beljevina
I'm looking to the EURUSD and a thus far 4 of 5 days inability to get beyond it's 1.452 high, along with a pronounced wave of concerning sentiment that has been rolled out this week. The danger is that the euro is still very much in an uptrend, and almost every Friday has seen it bounce 150-200 pips up, which if it happens, may carry GBPUSD with it, but again, that 1.6425+ catalyst just doesn't seem there. Speculating, I'd be looking for a ride back down to the supply zone and today's open of 1.6266.
Quoting Beljevina
... and I think eventually heading lower - DPP and prev high at 63088 still calling IMO. Good news is that it seems that top TL from my H1 chart is still holding and the rise up to saw both spot sellers and a less evident amount of sellers on 6B futures.
Dang, that took forever - what a lethargic London session - a 30 pip range! Glad I slummed through it!

A couple of other interesting things happened on the M15 - at least one more failed upthrust, providing a No Demand set of bars (evident here but perhaps more clearly on H1, as a small range bar, closing at it's low, with lower volume than the preceding and surrounding bars) and then that last white bar volume upthrust looking to trap buyers, but a rejection and further selling.

Not many pips here, but booked half at 63088; thinking 6270 still possible today. Yes, range is pathetic today.
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  • #276,610
  • Apr 15, 2011 10:10am Apr 15, 2011 10:10am
Finally closed with 16 pips. Not bad after waiting for 9 hours. Take care guys, I'm off the market.
  • #276,611
  • Apr 15, 2011 10:12am Apr 15, 2011 10:12am
sorry for the question but...

why oil not going down on expiry date?!
90% of traders use TA, indicators and prediction
  • #276,612
  • Apr 15, 2011 10:13am Apr 15, 2011 10:13am
Quoting 0rPhioZ
Finally closed with 16 pips. Not bad after waiting for 9 hours. Take care guys, I'm off the market.

have a good week end
90% of traders use TA, indicators and prediction
  • #276,613
  • Apr 15, 2011 10:17am Apr 15, 2011 10:17am
Finally breaking down through the pivot
  • #276,614
  • Apr 15, 2011 10:21am Apr 15, 2011 10:21am
GU just fell out a bed... went below the lowest TL in the 2 week old system. Now, the weekend is coming up, question is: do we trap people who buy it or people who sell it?
  • #276,615
  • Apr 15, 2011 10:32am Apr 15, 2011 10:32am
Quoting TauTrader
Long @ 1.6314 . SL 1.6275 area

Regards
Ok - a bit arrogant in approach. Closing for +8. Gotta go Sushi

See Monday

Regards
  • #276,616
  • Apr 15, 2011 10:47am Apr 15, 2011 10:47am
Quoting ams
I was referring to forex traders, they are mainly into options and looks at greeks for trading as usual. Equity and derivatives floor traders cannot even breath without volume, DMA and levelII in front
Very intriguing - and thanks for clarifying. I'd have to sum it up the way I mentioned before - it won't be everyone's cup of tea or something they endorse or believe, esp. if they have studied PA long enough, and can judge movement based on the myriad of other ways that traders can profit.

VSA as applicable to spot forex is somewhat new, and is a bit of an uphill thing, with the old-school thinking being "there is no volume." But old-school trading of years ago gets you no-where in these days of algos, black boxes, and far more complex world financial relationships, so that's hardly a logical excuse.

Plus, most people who believe it doesn't work, read it from somewhere on the internet, or, heard if from someone who didn't need to use it for their trading lifetime. Put differently, between the most profitable hedge funds shutting down and point-blank believing that what a yahoo published on a internet web page (that spot fx volume doesn't work) - should pretty much have traders reach their own conclusions. And once one can get the belt hours of VSA and PA in place, I assure you it works. Not foolproof, but, we all know the Holy Grail isn't guaranteed, nor available for $79.99.
  • #276,617
  • Apr 15, 2011 10:47am Apr 15, 2011 10:47am
im leaving too...
nothing clear to me today.

bybye all
90% of traders use TA, indicators and prediction
  • #276,618
  • Apr 15, 2011 11:26am Apr 15, 2011 11:26am
Quoting Tellerton
Now, the weekend is coming up, question is: do we trap people who buy it or people who sell it?
Interesting comment. I would appreciate your insights on how these traps are setup.
  • #276,619
  • Apr 15, 2011 2:15pm Apr 15, 2011 2:15pm
Quoting suthmo
Projection shows we'll be topping out in 28hrs 4560 that puts us into the weekend? Short there target 4260
We just intataniously skipped over 24 hours of data leading to 4560 to instantly arrive at this moment Sell resistance at 4439 for 4260 YEEEEEEEEHAAAAAAWAWWWWWWWWW!!
Founder of Sutherland Wave Principle
  • #276,620
  • Edited 4:08pm Apr 15, 2011 2:31pm | Edited 4:08pm
Quoting Beljevina
Not many pips here, but booked half at 63088; thinking 6270 still possible today. Yes, range is pathetic today.
Almost ready to close the chapter on this; 6270 and the no demand scenario has played out - although I'd expect a 1.62 test/dip by early next week - think I'll leave some open. 90 minutes to go to the 5pm NY close. If we don't get there in the wee hours, Sunday open should bring us there. Hope everyone enjoys the weekend.

EDIT: Wowee, in the last 30 min before the close, a 35 pip pop to 63260, a tad below the DPP - definitively nothing on futures, and no citibank volume change - this is smart money manipulation, though maybe to prevent a GBPJPY close at the absolute low? Chart updated. More lows & lower open Sunday? We'll see.
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