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Cable Update (GBPUSD)

  • #279,281
  • May 17, 2011 1:18am May 17, 2011 1:18am
Quoting jmtini
Hi
I have an interesting observation. If you mainly trade off the 4hr chart and you use Japanese candlestick trading system you need to have more then one MT4 platform running (from different brokers) if possible. Reason is that different brokers work off different time zones so your candles will be different looking to mine! Pity that the MT4 platform can't be adjusted (as far as I know) to different time zones.


Rgds
Jerry
hi
about this, also daily candles are different.
i trade on gmt0 platform. thats all.
90% of traders use TA, indicators and prediction
  • #279,282
  • May 17, 2011 1:20am May 17, 2011 1:20am
good morning/evening

today is CPI day.
i hope to see at least 6265 before any further down.
90% of traders use TA, indicators and prediction
  • #279,283
  • May 17, 2011 1:40am May 17, 2011 1:40am
Quoting _BBKing_
good morning/evening

today is CPI day.
i hope to see at least 6265 before any further down.
Good day everyone.

The sooner down for me - the better!
  • #279,284
  • May 17, 2011 1:40am May 17, 2011 1:40am
Quoting _BBKing_
good morning/evening

today is CPI day.
i hope to see at least 6265 before any further down.
I am waiting to open short if that level fail.

Have a great pips day guys
Life is about choosing... Long or Short... Discipline and consistency
  • #279,285
  • May 17, 2011 2:20am May 17, 2011 2:20am
anyone shorting euro-sterling here?
  • #279,286
  • May 17, 2011 2:22am May 17, 2011 2:22am
dok I think it's too early to sell before UK CPI data, I'd say would be fair to expect GU to test weekly 6280-6320, if not Id wait for 6150 to be taken out and short from 6120-6130 for 5900.
  • #279,287
  • May 17, 2011 2:31am May 17, 2011 2:31am
Hi all

From Advfn just now:

The Japanese yen extended its Asian's session's decline against the U.K. currency and touched a 5-day low of 132.23 at 2:50 am ET Tuesday. Presently, the yen is trading at 132.03 against the pound with 134.00 seen as the next downside target level. The pair closed Monday's trading at 130.84


Might be a good time to buy GBPJPY?
  • #279,288
  • May 17, 2011 2:36am May 17, 2011 2:36am
G/M

Uk Cpi/Rpi inflation (& DCLG Hpi) due @ 0930am Uk time...could see some knee-jerk £ strength on any cpi read of 4.4% and above, conversely some knee-jerk weakness on any cpi read of 3.9% and below ?? RPI effect more difficult to determone however if moves contrary to cpi could tell more about where the inflation is as opposed to where they think it is ? It's data and anything or nothing can heppen.

Friday's low (6147) around 76.4% 5971-6746 and 23.6% longer 4225- same 6746 Hi move has held so far, with a bullish start to the London session today...Monday's Hi @ 23.6% 6573-6147 / 61.8% 6321- same 6147 Lo (Last week's Lo) remains the first upside obstacle...weekly pivot is at/around 6286.

G/L
ex member
  • #279,289
  • May 17, 2011 2:41am May 17, 2011 2:41am
Quoting _BBKing_
good morning/evening

today is CPI day.
i hope to see at least 6265 before any further down.

90% of traders use TA, indicators and prediction
  • #279,290
  • May 17, 2011 2:47am May 17, 2011 2:47am
Quoting _BBKing_

upper hourly channel is 6320-6360 range.
lets see if goes before tomorrow.
90% of traders use TA, indicators and prediction
  • #279,291
  • May 17, 2011 2:47am May 17, 2011 2:47am
It's forecast higher so we're trading on the forecast at the moment. Stops to break even if it's lower...
Gone to a better place
  • #279,292
  • May 17, 2011 2:50am May 17, 2011 2:50am
6280-90 contains weekly pivot and 5 x unbreeched fibs of main 4hr/1hr swing moves down from and including recent 6746 swing hi - a recent 1hr/4hr/daily/weekly swinng hi - to that Friday Lo 6147.

G/L
ex member
  • #279,293
  • May 17, 2011 2:54am May 17, 2011 2:54am
do i miss the best chance to open short order ?
Attached Image
A chart helps those who can read it.
  • #279,294
  • May 17, 2011 2:55am May 17, 2011 2:55am
If everyone thinks gu is going lower why not get in on it now?
  • #279,295
  • May 17, 2011 2:56am May 17, 2011 2:56am
Quoting geniusztc
do i miss the best chance to open short order ?
are you anticipating another drop in Uk rpi/cpi inflation ?

G/L
ex member
  • #279,296
  • May 17, 2011 2:58am May 17, 2011 2:58am
Quoting bbmac
6280-90 contains weekly pivot and 5 x unbreeched fibs of main 4hr/1hr swing moves down from and including recent 6746 swing hi - a recent 1hr/4hr/daily/weekly swinng hi - to that Friday Lo 6147.

G/L
Interesting confluence of fibs and resistance levels there.
Gone to a better place
  • #279,297
  • May 17, 2011 2:58am May 17, 2011 2:58am
Quoting wiz001
If everyone thinks gu is going lower why not get in on it now?
No-one knows where GU will go or any other instrument for that matter ...all you can do is play your edge...I'm not sure I would be opening short positions of any longevity ahead of the Uk inflation data...but hey that's just me-others might be different.

G/L
ex member
  • #279,298
  • May 17, 2011 3:00am May 17, 2011 3:00am
Quoting smikester
Interesting confluence of fibs and resistance levels there.

it is certainly a potential area of resistance with that confluence yeh ! one of the areas I have pre-identified that may cause such...will judge PA etc if/when price reaches it as to what the greater probability might be (ie long b/o or short) and this in context of overall price action on t/f's of interest and intraday sentiment.

G/L
ex member
  • #279,299
  • May 17, 2011 3:02am May 17, 2011 3:02am
Quoting bbmac
are you anticipating another drop in Uk rpi/cpi inflation ?

G/L
lol. you got my mind .
A chart helps those who can read it.
  • #279,300
  • May 17, 2011 3:03am May 17, 2011 3:03am
Quoting smikester
Interesting confluence of fibs and resistance levels there.

Also the Weekly Pivot at 6278.....but for now, an old S&R level ~ 6255 has held
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