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Cable Update (GBPUSD)

  • #280,981
  • Jun 9, 2011 1:45am Jun 9, 2011 1:45am
Quoting bbmac
Uk Trade bal comes in slightly better tha n forec ast/last mth's, but still well in the 'trade gap' area...pullback to 23.6% of yesterday's lo to today's current hi / topside of breeched descending trend line on 1hr/4hr finds support on the back of..

G/L

Hidden divergence on the 4hr could push this up to new high?
  • #280,982
  • Jun 9, 2011 1:45am Jun 9, 2011 1:45am
Above this 6471 swing hi, Daily R2 pivot coincides with that 6495 previous 1hr/4hr swing hi - a precipitous drop in price occurred from hereand if tested could again provide some supply ?

Will see what price does if/when reaches it....ahead of that 76.4% of 6546-6286 is @ 6484 area.

G/L
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ex member
  • #280,983
  • Jun 9, 2011 1:46am Jun 9, 2011 1:46am
Quoting bbmac
Uk Trade bal comes in slightly better tha n forec ast/last mth's, but still well in the 'trade gap' area...pullback to 23.6% of yesterday's lo to today's current hi / topside of breeched descending trend line on 1hr/4hr finds support on the back of..

G/L
Is this mean that GU will going up?
  • #280,984
  • Jun 9, 2011 1:46am Jun 9, 2011 1:46am
Quoting Schoey
Hidden divergence on the 4hr could push this up to new high?

Hi, I am not see-ing any on my oscillators/settings on that t/f
ex member
  • #280,985
  • Jun 9, 2011 1:48am Jun 9, 2011 1:48am
If I knew that mate ! Lol...all you can do is play your set-ups/edge, no one knows what price will do next. Currently there is supply in the zone leading to that 6471 swing hi, this against a bullish looking 1hr/4hr chart.

G/L

Quoting stfu
Is this mean that GU will going up?
ex member
  • #280,986
  • Jun 9, 2011 1:53am Jun 9, 2011 1:53am
Quoting bbmac
If I knew that mate ! Lol...all you can do is play your set-ups/edge, no one knows what price will do next. Currently there is supply in the zone leading to that 6471 swing hi, this against a bullish looking 1hr/4hr chart.

G/L
Ahaha. Im new. So im still trying to figure out how news can influence trade and still trying to read charts. So pardon me if my question sometimes(or most of the time) sounds retarded
  • #280,987
  • Jun 9, 2011 1:57am Jun 9, 2011 1:57am
Quoting bbmac
Hi, I am not see-ing any on my oscillators/settings on that t/f
Sorry getting mixed up that was for eur/usd on stochs
  • #280,988
  • Jun 9, 2011 2:01am Jun 9, 2011 2:01am
Quoting Schoey
Sorry getting mixed up that was for eur/usd on stochs
Lol soros got his charts mixed up too, his whole plan he was looking at charts for the franc just got jammy....haaa that'd be funny
  • #280,989
  • Jun 9, 2011 2:02am Jun 9, 2011 2:02am
Not at all, it's just about understanding that we have no control over what will happen and that our analysis is not predictive, it just provides us with an edge ie a set of repeating conditions thaat can suggest a greater probability of price moving one way over another...and over time any such edge can provide us with a positive expectancy over a sample of trades taken sufficient to realaise a net gain.

------------------------------

On a seperate note, it is very unlikely that Boe/Mpc will raise the rate above current 0.5% before Uk Q2 Gdp # is known ? So n/c expected in that or Qe today although will see some movement if there is...attention therefore will probably be focused on accompanying statemnet if there is one, for clues, then the minutes ofg this meeting in 2weeks for further clues, also King's testimony to Uk Treasury select committee hearings scheduled for tomorrow could provide further such clues.

See what develops.

Quoting stfu
Ahaha. Im new. So im still trying to figure out how news can influence trade and still trying to read charts. So pardon me if my question sometimes(or most of the time) sounds retarded
ex member
  • #280,990
  • Jun 9, 2011 2:06am Jun 9, 2011 2:06am
Quoting bbmac
Not at all, it's just about understanding that we have no control over what will happen and that our analysis is not predictive, it just provides us with an edge ie a set of repeating conditions thaat can suggest a greater probability of price moving one way over another...and over time any such edge can provide us with a positive expectancy over a smaple of trades taken sufficient to realaise a net gain.
very well said good sir
  • #280,991
  • Jun 9, 2011 2:14am Jun 9, 2011 2:14am
looks like an assending triangle is forming on cable
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Bulls Make Money, Bears Make Money, Pigs Get Slaughtered
  • #280,992
  • Jun 9, 2011 2:15am Jun 9, 2011 2:15am
adjust my SL to BE maybe will close manually before news..will see how low it can go
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  • #280,993
  • Jun 9, 2011 2:46am Jun 9, 2011 2:46am
i'm up +30 pips on my gbp/usd trade...i think the market will be rewarding these last 2 days, because of the little range we saw...

follow my signals
http://www.forexfactory.com/showthre...254704&page=43
  • #280,994
  • Jun 9, 2011 2:48am Jun 9, 2011 2:48am
Quoting dailyking
i'm up +30 pips on my gbp/usd trade...i think the market will be rewarding these last 2 days, because of the little range we saw...

follow my signals
http://www.forexfactory.com/showthre...254704&page=43
I really hope that it will go up. its been a roller coster.
  • #280,995
  • Jun 9, 2011 2:50am Jun 9, 2011 2:50am
yep. you are right...but it will because today is almost the last trading day. since there is nothing on Fridays...trend will just continue.
  • #280,996
  • Jun 9, 2011 2:52am Jun 9, 2011 2:52am
1hr/4hr overall price action (opa) scenario remains bullish and price remains above the daily/weekly and monthly pivots..covering 54% of the 20 day atr today so far, only 47% of the 20week atr so far this week.

Will the buy the dip players come in at the 5min hidden divergence [back into the 1hr uptrend ]? (not perfect re opa on 5min coming at a LL on this t/f, - this coinciding though with a potential 1hr HL)

G/L
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ex member
  • #280,997
  • Jun 9, 2011 2:57am Jun 9, 2011 2:57am
will the bank rate give it impulse for trend or it is already priced in since everybody is pretty much sure no change now? so it will only make an effect for 30minutes lets say?

also do I get it right that interest rate up means GU up? and vice versa?
  • #280,998
  • Jun 9, 2011 3:07am Jun 9, 2011 3:07am
Well if there is any change to the rate say an upwartd move watch the knee-jerk (+) price go up...conversely down if there is the even more unlikely scenario of a cut, ...similarly any more Qe could see a drop in price in this pairing...these are unlikely scenarios and all eyes will be on the accompanying statement if there is one (there isn't always,) so difficult to tell how market will view that if it copmes out.

You are broadly correct in your logic - that is the conventional wisdom but with data/news reactions anything can happen, so just follow the money if there is a strong reaction.

G/L
--------------------------------

Quoting sphinx8
will the bank rate give it impulse for trend or it is already priced in since everybody is pretty much sure no change now? so it will only make an effect for 30minutes lets say?

also do I get it right that interest rate up means GU up? and vice versa?
ex member
  • #280,999
  • Jun 9, 2011 3:09am Jun 9, 2011 3:09am
too risky or maybe worth luck putting entry orders ready before the news pops

long @ 1.647
short @ 1.638

any ideas?
  • #281,000
  • Jun 9, 2011 3:11am Jun 9, 2011 3:11am
Hi, told ya we close bearish yesterday, have my target 4 2day @ 1.6540-80... Possibility... watch and see

Quoting dailyking
yep. you are right...but it will because today is almost the last trading day. since there is nothing on Fridays...trend will just continue.
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