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Cable Update (GBPUSD)

  • #283,721
  • Jul 8, 2011 2:03am Jul 8, 2011 2:03am
G/M

3rd bearish daily candle in a row printed yesterday and a bearish follow thru to a new Lo so far today.

Price makes a new lo (5938) in the overnight session just below yesterday's 6943 Lo following the pullback off that 5943 to the previous 1hr/4hr swing hi zone where supply was found. Demand at said 5938 has seen price challenge the steepest descending 1hr trend line / 38.2% 6018-5938.

Below current daily lo:
5935 Daily S1 @/around
5925-10 prev 1hr/4hr/daily swing lo zone
5902 Daily S2 @/around
5878 61.8% 5343-6746
5860 Daily S3 @/around
5848 61.8% 5290-5746
5832-18 previous Daily swing lo zone inc Weekly S2 @/around 5824
5802 Monthly S1 @/around
5790-44 previous Daily swing lo zone, Daily S3 @/around 5790

Price remains in an opa downtrend on 1hr/4hr with 1hr 100sma converging on it's 200sma possibly for a cross down ,? 4hr 100sma remains below it's 200sma.

Uk data @ 0930am London and of course U.s Nfp data etc later.

G/L
　



　
　
Attached Image
ex member
  • #283,722
  • Jul 8, 2011 2:07am Jul 8, 2011 2:07am
I think GBPUSD wait big move down. 1.5900 very sensitive support. Breaking this line can open the way to 1,5750 (half 1.6000/1.5500)and 1,5500..
http://img219.imageshack.us/img219/4489/gbpusdh4m.gif
http://img121.imageshack.us/img121/9858/gbpusdo.gif
Think like an investor, Act as a speculator. Ferid H.
  • #283,723
  • Jul 8, 2011 2:10am Jul 8, 2011 2:10am
DailyFX.com say this re upcoming NFP:

U.S. Non-Farm Payrolls are expected to increase another 105K in June following the 54K expansion in the previous month, and the faster pace of growth could spark a bullish reaction in the U.S. dollar as the data instills an improved outlook for the world’s largest economy. As the recovery in the labor market gathers pace, the Federal Reserve may raise its fundamental assessment, and the central bank may continue to unwind its emergency measures in the second-half of the year as policy makers expect to see a economic activity expand at a more rapid pace in 2012. However, as risk trends continue to influence price action in the foreign exchange market, a positive development could lead currency traders to increase their appetite for yields, and the U.S. dollar may trade heavy going into the end of the week as market sentiment improves.
ex member
  • #283,724
  • Jul 8, 2011 2:12am Jul 8, 2011 2:12am
Quoting bbmac
DailyFX.com say this re upcoming NFP:

U.S. Non-Farm Payrolls are expected to increase another 105K in June following the 54K expansion in the previous month, and the faster pace of growth could spark a bullish reaction in the U.S. dollar as the data instills an improved outlook for the world’s largest economy. As the recovery in the labor market gathers pace, the Federal Reserve may raise its fundamental assessment, and the central bank may continue to unwind its emergency measures in the second-half of the year as policy makers expect to see...

let me translate

"we have no idea what is going to happen"
  • #283,725
  • Jul 8, 2011 2:15am Jul 8, 2011 2:15am
1hr, how significant ?
Attached Image (click to enlarge)
Click to Enlarge Name: z.jpg Size: 48 KB
ex member
  • #283,726
  • Jul 8, 2011 2:16am Jul 8, 2011 2:16am
Lol, they and the rest of us, but they put it so eloquently !

Quoting Wulfgar
let me translate

"we have no idea what is going to happen"
ex member
  • #283,727
  • Jul 8, 2011 2:16am Jul 8, 2011 2:16am
Quoting Wulfgar
let me translate

"we have no idea what is going to happen"
True...


they shud write on there website with bold letters...


"we have no idea please do not ask us,we are just paid to confuse people and bitching arround"
Trade responsiblypatience is the key/Swing trader
  • #283,728
  • Jul 8, 2011 2:21am Jul 8, 2011 2:21am
Quoting bbmac
1hr, how significant ?
Very good "trick of gaining for sellers"
Think like an investor, Act as a speculator. Ferid H.
  • #283,729
  • Jul 8, 2011 2:25am Jul 8, 2011 2:25am
Quoting josef
Morning.

I'm already in for an hour long at 1.5945.

Need few good trades and I'm ready for a weekend.
Closed +25 pips
  • #283,730
  • Jul 8, 2011 2:26am Jul 8, 2011 2:26am
Quoting bbmac
Lol, they and the rest of us, but they put it so eloquently !
lol, wish i could be so eloquent! less risk writing those articles then putting our hard earned money in these markets
  • #283,731
  • Jul 8, 2011 2:27am Jul 8, 2011 2:27am
Quoting josef
Closed +25 pips
  • #283,732
  • Jul 8, 2011 2:30am Jul 8, 2011 2:30am
Price challenginng the daily pivot, 50% 6018-5838 and previous 1hr swing hi zone

G/L
Attached Image
ex member
  • #283,733
  • Jul 8, 2011 2:37am Jul 8, 2011 2:37am
nice 30min pinbar closed at 0830am london, but 1min regular bearish divergence play at that potential resistance confluence indicated the move.

Typical pre-nfp market ?
Still some buyers around

G/L
Attached Image (click to enlarge)
Click to Enlarge Name: z.jpg Size: 82 KB
ex member
  • #283,734
  • Jul 8, 2011 2:37am Jul 8, 2011 2:37am
good morning / evening

today we breake levels!!
im tired of this 59-60-59-59-60-60-61-60-60-59-59
price is here since too much time.
once we go out, i expect a fast impulsive huge move!!!
90% of traders use TA, indicators and prediction
  • #283,735
  • Jul 8, 2011 2:40am Jul 8, 2011 2:40am
Quoting MaryJane
Won't trade tomorrow..
couldn't resist.
sold cable @5967 sl 5984 target somewhere below 5940
Attached Image (click to enlarge)
Click to Enlarge Name: sold.gif Size: 24 KB
MarginTrader All Time Return: na
  • #283,736
  • Jul 8, 2011 2:42am Jul 8, 2011 2:42am
Quoting _BBKing_
good morning / evening

today we breake levels!!
im tired of this 59-60-59-59-60-60-61-60-60-59-59
price is here since too much time.
once we go out, i expect a fast impulsive huge move!!!
Morning, BBKing. Why you don't like this. GU was unexpectedly predictable hole this week.
  • #283,737
  • Jul 8, 2011 2:47am Jul 8, 2011 2:47am
I posted a 1hr chart above asking how significant the recent 1hr PA was and what it may tell us...it looks somewhat accumulative to me, ie buyers around so it's a big near-term obstacle for the sellers...not sure I'd want to be holding a short position at the moment...alright scalping though till things become clearer.

G/L
ex member
  • #283,738
  • Jul 8, 2011 2:50am Jul 8, 2011 2:50am
This PA is dancing a nice CHA CHA CHA I wonder who is playing the music
  • #283,739
  • Jul 8, 2011 2:56am Jul 8, 2011 2:56am
maybe, SL 20 pip
http://www.kikkichimoku.com/home/201...ettissimo.html
http://gyazo.com/0eec4fc02a36496ffcc374dab815b226.png
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  • #283,740
  • Jul 8, 2011 3:00am Jul 8, 2011 3:00am
Quoting _BBKing_
good morning / evening

today we breake levels!!
im tired of this 59-60-59-59-60-60-61-60-60-59-59
price is here since too much time.
once we go out, i expect a fast impulsive huge move!!!
Good morning
Trader from Croatia
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