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Cable Update (GBPUSD)

  • #281,261
  • Jun 14, 2011 12:48am Jun 14, 2011 12:48am
went short on GU @ 6406...targeting 30pips only though..
  • #281,262
  • Jun 14, 2011 1:08am Jun 14, 2011 1:08am
we will be witnessing a more upside from here. watch out for 6450 once it breach more upside there. Before today news events we will touch test 6450 zone... The rsi still bullish in 4 hr tf and daily tf.
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  • #281,263
  • Jun 14, 2011 1:51am Jun 14, 2011 1:51am
thinking of gong short..still waiting for comfirmation
  • #281,264
  • Jun 14, 2011 1:52am Jun 14, 2011 1:52am
currently this pair sit @ 78.6 Fib, if it breach this area this pair will continue to go up, otherwise it will go down @ 1.6221, I will not bet on this pair, as there is not clear trend going on here.
Attached Image
There is Time for Bull, and Time for Bear. and so be the Wolf.
  • #281,265
  • Jun 14, 2011 1:57am Jun 14, 2011 1:57am
Hello!

Back to trading after a long weekend.

And I bet on up trend today.

Good luck.
  • #281,266
  • Edited 2:11am Jun 14, 2011 1:58am | Edited 2:11am
G/M

Yesterday's rise resulting in a bullish engulfing thrust daily candle breeching the 1hr descending trend lines likely caught a few short stops out and many offside, the further leg up and this morning's legg up being provided by reaction to Boe/Mpc's member Weale's comments re rate rise last night.

Asian session formed a base at 6354 following a pullback off yesterday's 6390 Hi and so far today a Hi of 6426 has been seen. (61.8% 6546-6286 is @ 6419.

1hr is in a classic opa uptrend and 4hr looks bullish-mixed now but both their 100sma's remain below their 200sma's presently.

Above current Hi Weekly a previous 1hr swing hi to 6439 with Daily R1 in there @ 6437 area. Then that previous 1hr x 3 / 4hr x 3 / Daily x 3 swing hi zone leading to 6472 with 76.4% 6546-6286 @ 6468. Above here another previous 1hr/4hr swing hi zone to 6495 with Daily R2 just above @ 6500.

Event Risk: Uk data @ 0930am London.

4hr current near-term screenshot shown below.

G/L
Attached Image (click to enlarge)
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ex member
  • #281,267
  • Jun 14, 2011 1:58am Jun 14, 2011 1:58am
Quoting josef
Hello!

Back to trading after a long weekend.

And I bet on up trend today.

Good luck.
Welcome back Josef. we miss your post here.
  • #281,268
  • Jun 14, 2011 2:06am Jun 14, 2011 2:06am
Any upside print of the previous and forecast numbers could see a knee-jerk £ buying. Conversely any easing in the numbers could see a knee-jerk £ sell-off....well that's the most probable market reaction to such scenarios anyway.

G/L
ex member
  • #281,269
  • Jun 14, 2011 2:10am Jun 14, 2011 2:10am
Quoting gsantri
Very well done matey

thank you
90% of traders use TA, indicators and prediction
  • #281,270
  • Jun 14, 2011 2:11am Jun 14, 2011 2:11am
Quoting josef
Hello!

Back to trading after a long weekend.

And I bet on up trend today.

Good luck.

hello mate,
im already long 6425
90% of traders use TA, indicators and prediction
  • #281,271
  • Jun 14, 2011 2:13am Jun 14, 2011 2:13am
Quoting izzas
thinking of gong short..still waiting for comfirmation

1st rule always trade with the trend, if moving up wait for pull backs an buying opportunities. If you like to pick tops an bottoms your trading days will be short lived unless u have a gigantic account. For me, smart money (pro's) are buying. SO il wait for buying opportunities.

There could well be a retrace of some sort as that move yest was massive considering europe was on holiday,but nothing to tell me sell. Good luck
  • #281,272
  • Jun 14, 2011 2:13am Jun 14, 2011 2:13am
Quoting bbmac
Any upside print of the previous and forecast numbers could see a knee-jerk £ buying. Conversely any easing in the numbers could see a knee-jerk £ sell-off....well that's the most probable market reaction to such scenarios anyway.

G/L

good morning bbmac,
lets see what this CPI will give!

anyway, im very very curious to see what the USA retail sales will do later! big move there imo
90% of traders use TA, indicators and prediction
  • #281,273
  • Jun 14, 2011 2:15am Jun 14, 2011 2:15am
G/M BB, could be yeh...after my trading session ends so will miss it (forecast sun here in Central London so will enjoy lying out in Hyde park Lol ! - but I'll be thinking of ya ! )

G/L

Quoting _BBKing_
good morning bbmac,
lets see what this CPI will give!

anyway, im very very curious to see what the USA retail sales will do later! big move there imo
ex member
  • #281,274
  • Jun 14, 2011 2:18am Jun 14, 2011 2:18am
Quoting bbmac
G/M BB, could be yeh...after my trading session ends so will miss it (forecast sun here in Central London so will enjoy lying out in Hyde park Lol ! - but I'll be thinking of ya ! )

G/L

good for you

maybe if things goes good will do the same and take a walk here is a nice sunny day too
90% of traders use TA, indicators and prediction
  • #281,275
  • Jun 14, 2011 2:23am Jun 14, 2011 2:23am
Price just poked it's head just above that previous 1hr swing hi/daily R1 finding supply at 6440 so far

G/L
ex member
  • #281,276
  • Jun 14, 2011 2:25am Jun 14, 2011 2:25am
Quoting bbmac
Price just poked it's head just above that previous 1hr swing hi/daily R1 finding supply at 6440 so far

G/L
yeah, hope it will touch 6440 before going down a bit
  • #281,277
  • Jun 14, 2011 2:31am Jun 14, 2011 2:31am
This previous 1hr/4hr/daily swing hi to 6472 (76.4% 6546-6286 @ 6469) could be a tough upside obstacle for the bulls, but any print higher ion the cpi/rpi say 4.8%/5.6% respectively or higher could see some knee-jerk £ strength sufficient to crack it ?

Lots of short side stops going through atm likely.

G/L
ex member
  • #281,278
  • Jun 14, 2011 2:31am Jun 14, 2011 2:31am
lol
got first 15 pips of the day


now
this is what my h4 say
price try to penetrate resistance area

if brakes above and get the 6460 res line would mean braking also previous downward pattern.
not clearly doing for the moment.
need a confirmation on CPI or USA retail sales.

busy day
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90% of traders use TA, indicators and prediction
  • #281,279
  • Jun 14, 2011 2:51am Jun 14, 2011 2:51am
Can someone please explain? What is driving the pound upwards? This is weird.
  • #281,280
  • Jun 14, 2011 2:52am Jun 14, 2011 2:52am
Quoting magbrr
Can someone please explain? What is driving the pound upwards? This is weird.

hi mate
here you are the article where you find the answer!
http://www.automatedtrader.net/real-...-bank-rate-now
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