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Cable Update (GBPUSD)

  • #277,481
  • Apr 26, 2011 11:51am Apr 26, 2011 11:51am
Hi Everyone,

GBPUSD is in a 1H down channel IMHO. Could be a good idea to sell at the top of the chnnel - around 1.6500...
Attached Image (click to enlarge)
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  • #277,482
  • Apr 26, 2011 11:52am Apr 26, 2011 11:52am
Quoting TauTrader
Good day,

long went in @ 1.6442. Short term chart. Scalp.

Regards
Closing for a couple.

Regards
  • #277,483
  • Apr 26, 2011 11:56am Apr 26, 2011 11:56am
Hey All

Looking at the analysis, the traders on this forum is very interesting. Many similarity analysis and also the difference. I am a beginner traders can only observe and a little confused ....
Hopefully with the confusion I can take the good from the analysis of all of you ... thank you

For TT and Redbeben two thumbs for you guys.
  • #277,484
  • Apr 26, 2011 12:36pm Apr 26, 2011 12:36pm
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
We are good if we stay in touch and use the strategy

See, we have gone above 6480 as expected if it holds. 65500 or little more perhaps. We both are looking in the same direction, reckon so is everyone else it's only a matter of time. Mark my words, 1st week of MAY.

ta
ams






Quoting TauTrader
Good day to you,

We need to stay out of each other's way, as we are not good together.

Hehe...

My charts are mixed at the moment. Longer term says weak up, whilst short term is doing the last run up before we go lower. I am thus hoping we can move up now to break 1.65XX, as if we are there and I get my indi to cross, we will be banking 100 pips down.

My aim is 4 x 200 pip trades in the next 9 weeks. that is all I aim for. So maybe time to relax and wait for that perfect setup, as they will come.

All the best to you

Regards...
  • #277,485
  • Apr 26, 2011 1:01pm Apr 26, 2011 1:01pm
any thoughts on this: according to dailyfx, they think cable has done 5 impulsive waves up and hence now a correction will occur, but if pound is in an A-B-C correction, then surely we wouldnt go as high as 1.67...

sorry my mistake, i didnt think, a correction could be down to 1.6180 and then upto 1.67...any thoughts
  • #277,486
  • Apr 26, 2011 1:08pm Apr 26, 2011 1:08pm
flag formation on H1 chart, would like to see price to break upper line to open long order

http://4.bp.blogspot.com/-UUxUHt2pDX..._formation.png
  • #277,487
  • Apr 26, 2011 2:53pm Apr 26, 2011 2:53pm
hello all
im following this since friday on thiner volumes
6430 today did good support
i still think on bullish side

i would really like to see reasons on PA to buy it near 6380 or above 6500 in consolidation mode.
now in the middle of both, so i stay out for a while except a small buy still open
Attached Image (click to enlarge)
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90% of traders use TA, indicators and prediction
  • #277,488
  • Apr 26, 2011 3:09pm Apr 26, 2011 3:09pm
i was reading all previous posts, today was busy to do, but looking now was better if i did!
i think all good traders here
i am very happy to be here n learn n see so much good analyze!
90% of traders use TA, indicators and prediction
  • #277,489
  • Apr 26, 2011 3:20pm Apr 26, 2011 3:20pm
will tomorrow's FOMC press conference stop or allow this thing?

nobody can know.
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90% of traders use TA, indicators and prediction
  • #277,490
  • Apr 26, 2011 4:03pm Apr 26, 2011 4:03pm
Quoting monkey@forex
any thoughts on this: according to dailyfx, they think cable has done 5 impulsive waves up and hence now a correction will occur, but if pound is in an A-B-C correction, then surely we wouldnt go as high as 1.67...

sorry my mistake, i didnt think, a correction could be down to 1.6180 and then upto 1.67...any thoughts
don't know about ABC but I've been on the same thought for some time

last week I said this weeks needs to be bearish and next week bullish with a top of 1.67 meaning on the 5th of may we might have the rate rise on BOE as from 1.618 to 1.67 are 500 pips.BOE will be on the 5th which I guess it is wednesday.

only if we go down to 1.618 in the next day or 2(don't remember exactly the time span I said on some posts today and to lazy to look at charts now)and start going up before next week but I really doubt it ...then we will need no hike rate.

and from up there we will see a drop of at least 600 pips as first target and then all the way to 1.55
  • #277,491
  • Apr 26, 2011 4:05pm Apr 26, 2011 4:05pm
hello guys bit of a newbie question please forgive me for asking, but I really would appreciate a bit of help as im struggling with the questions.

Supposing I want to convert 100 000 GBP in my account to us dollars. By opening a fx trader account supposing the spot rate is 1.6478 ie average between buy and sell I could probably buy it for 1.6481. Supposing I wanted to keep the US dollars for a house purchase is this possible.

The reason why I ask is because my bank says that for me to achieve an exchange rate of 1.67 I would need the spot rate to go to 1.68. That would mean they are making about 1000 dollars from the deal. I am thinking by opening an FX account I can minimize this to maybe 100 to 200 dollars. Free trip abroad for a little work. This is a question that has been on many peoples minds and if someone could suggest a solution to this and the feasability it would be much appreciated. Thanks guys. Please forgive my ignorance on this
  • #277,492
  • Apr 26, 2011 4:23pm Apr 26, 2011 4:23pm
this move from 6600 looks bit too much weak for me.
price is simply ranging while looking for a direction.
tomorrow's preliminar GDP n Bernanke press conference will tell lot of things for next days n so for weekly candle.

tomorrow we go out of technical reasons to go in fundamental mode n eat stops.
trend resumes?
trend reverse?
i mean hourly trend (...)

patience is the key
90% of traders use TA, indicators and prediction
  • #277,493
  • Apr 26, 2011 7:43pm Apr 26, 2011 7:43pm
Quoting TauTrader;
good day to you,

Price will probably go up from these levels. From here, or 1.6420 or 1.6400. Trend still up. Do not concern yourself with selling at the moment.

Wishing for 1.6540 - 1.6550.

Regards
Good morning

Analysis of your extraordinary sir. May I know how you know or calculate that prices may not fall lower than 1.64xx while at the same time I think of H4 to the M1 is still supportive to prices continue to move down? Is this what you mean 1.6440 buy-dip? Or you better suggesting Sell-Top in 1.66xx? In your opinion is it possible to move prices 1.66xx on today or this week sir?

Thank You.


Best Regards

San
  • #277,494
  • Apr 26, 2011 8:40pm Apr 26, 2011 8:40pm
Quoting jay696934
hello guys bit of a newbie question please forgive me for asking, but I really would appreciate a bit of help as im struggling with the questions.

Supposing I want to convert 100 000 GBP in my account to us dollars. By opening a fx trader account supposing the spot rate is 1.6478 ie average between buy and sell I could probably buy it for 1.6481. Supposing I wanted to keep the US dollars for a house purchase is this possible.

The reason why I ask is because my bank says that for me to achieve an exchange rate of 1.67 I would need the spot rate...
Go for it, if you think the value of GBP gonna go up. I do not know if your british or american. but if your american you could open up a forex account in GBP as a base currency. Deposit 165,000 USD for 100,000 GBP at exchange rate of 1.65. Then if you anticipated GBP will go to 1.67-68, withdraw 100,000 GBP for USD @ 1.68 = 168000 USD.

SO that would mean a 3000 gain.

Off-course there is no fee at all to do this in a forex account, unless you decide to trade that money. But i guess there may be some bank transfer fees involved maybe 30USD to send/recieve funds.
To Your Success!!
  • #277,495
  • Apr 26, 2011 8:54pm Apr 26, 2011 8:54pm
There is a bearish divergence on the 1hr TF with a lower high being made by bouncing off of a previous downward trendline and slow stoch being completely overbought!! Very clear signal I sold @1.6490
  • #277,496
  • Apr 26, 2011 8:56pm Apr 26, 2011 8:56pm
There is still more room for longs :-)
The market will deceive you. Make your own judgement.
  • #277,497
  • Apr 26, 2011 8:56pm Apr 26, 2011 8:56pm
and a possible H&S is forming on 15m and 39m..
  • #277,498
  • Apr 26, 2011 8:59pm Apr 26, 2011 8:59pm
If GU bounce at the current price right now, it may retest the 1.6528 level,
The market will deceive you. Make your own judgement.
  • #277,499
  • Apr 26, 2011 9:31pm Apr 26, 2011 9:31pm
Quoting ninjafx
There is still more room for longs :-)
In this game there is always room for more given the right volatility....as well depends on what TF you are trading in
  • #277,500
  • Apr 26, 2011 9:37pm Apr 26, 2011 9:37pm
In addition......the current move down appears to be testing the 70ema and the middle BB so if that breaks and closes below im looking for my first TP to be in the 6470 area for a 1:1 R/R
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