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Cable Update (GBPUSD)

  • #285,981
  • Aug 8, 2011 8:21pm Aug 8, 2011 8:21pm
Quoting stulic
Pretty much everyone that matters, Australia, Canada, all of Scandinavia, France, Germany, Hong Kong, Netherlands, Switzerland, UK... you name it
Exactly... But not many.
http://en.wikipedia.org/wiki/List_of..._credit_rating
  • #285,982
  • Aug 8, 2011 11:01pm Aug 8, 2011 11:01pm
Based on my colourful H1 chart, I believe GU will go up.

Notice how many times price bounce up again when it reach the pink ribbon (which indicate support), and if price fail to go below 6230, we may have a higher low.

But this is only after price can take out resistance at 6350, time will tell

Attached Image (click to enlarge)
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  • #285,983
  • Aug 8, 2011 11:16pm Aug 8, 2011 11:16pm
Quoting stulic
Pretty much everyone that matters, Australia, Canada, all of Scandinavia, France, Germany, Hong Kong, Netherlands, Switzerland, UK... you name it
you forgot Spain lol
  • #285,984
  • Aug 9, 2011 12:37am Aug 9, 2011 12:37am
.
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not euphoria follower
  • #285,985
  • Edited 2:43am Aug 9, 2011 2:02am | Edited 2:43am
long out + 42 at weekly pivot/ daily pivot. let london open first to see how PA
Quoting iqyu5an
.
trying short at 6380
not euphoria follower
  • #285,986
  • Aug 9, 2011 2:15am Aug 9, 2011 2:15am
G/M,

London burns affter a night of rioting/thuggery/looting...Equities are in steep decline and then in this instrument:

Yesterday's daily dark cloud cover thrust candle saw a small follow thru to the downside before demand kicked in a previous 1hr sxwing lo zone - now a previous 1hr/4hr swing hi zone, price giving back over 50% of yesterday''s fall to today's current lo 6471-6266.

Price remains in the recent 4hr/daily consolidation zone 6474-6222.
1hr 4hr and daily are all in ranging mode at the moment with a very strong bounce off the current daily lo.

Current near-term 1hr screenshot below shows the near-term potential supp/res/sbr/rbs factors with Daily R1 @/around 6422 and Daily S1 @/around 6247

G/L
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ex member
  • #285,987
  • Aug 9, 2011 2:25am Aug 9, 2011 2:25am
Uk Event Risk: 0930am London Manuf and Ind Prod data...strong print could see some knee-jerk (+?) £ strength and conversely, a weak print could see some £ sales on the knee-jerk (+?)
-----------------------

Price pulling back from a previous 1hr swing lo zone / 61.8% 6471-6266 at the moment.

G/L
ex member
  • #285,988
  • Aug 9, 2011 2:34am Aug 9, 2011 2:34am
I am short
Attached Image (click to enlarge)
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  • #285,989
  • Aug 9, 2011 2:41am Aug 9, 2011 2:41am
opportunities continue on the lower t/f's whilst price remains in this 6474-6222 4hr/daily congestion zone..pullback from 61.8% 6471-6266 challnges 38.2% 6266-6396 at the moment.

G/L
ex member
  • #285,990
  • Aug 9, 2011 2:44am Aug 9, 2011 2:44am
short out at + 31.


Quoting iqyu5an
long out + 42 at weekly pivot/ daily pivot. let london open first to see how PA


trying short at 6380
not euphoria follower
  • #285,991
  • Aug 9, 2011 2:49am Aug 9, 2011 2:49am
this fuckin range sucks

Attached Image (click to enlarge)
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Hero calls followed by margin calls...
  • #285,992
  • Aug 9, 2011 3:44am Aug 9, 2011 3:44am
knee-jerk drop on the worse than expected Uk Manuf/ind prod numbers release but finds some demand at the top of the previous 1hr swing lo zone/61.8% 6266-6393 (current daily lo-hi)

G/L
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ex member
  • #285,993
  • Aug 9, 2011 3:55am Aug 9, 2011 3:55am
.
Quoting iqyu5an
short out at + 31.
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not euphoria follower
  • #285,994
  • Aug 9, 2011 3:56am Aug 9, 2011 3:56am
4hr range consolidation continues 6474-6222

G/L
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ex member
  • #285,995
  • Aug 9, 2011 4:02am Aug 9, 2011 4:02am
hello all
still into this range area.

our luck is that range is very good for swings..

to go more up need to consolidate above that red descending line.
to go more down need to breake 6220

....in the middle, we can only buy lows n short highs...

isn't it?!
i will surely not be the one buying near the supply area!
Attached Image (click to enlarge)
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90% of traders use TA, indicators and prediction
  • #285,996
  • Aug 9, 2011 4:10am Aug 9, 2011 4:10am
Quoting delorean
I see a BIG possibility that cable will go down.

REASONS:

2. IMHO, US' rating downgrade is not a big deal. Who else has better rating than AA? The media over-sensationalize the news and made the whole world panic (including myself).

3. Euro zone are in financial trouble as well. So GBP might not be too favorable for a bullish move. SO, both GBP and USD have equal disadvantage and can still stabilize each other (sort of).
hello,
i agree in most part of your comment...
this is the reason of this ping pong into this area.

about us downgrade etc... i would add 2things:
.it is already priced in the market imho, last friday absorbed completely the possible us-buyers after NFP n moved everething against usd!
.matter is on that USA should have a strong economy, while they not! world is USD based, but looks like there is anymore a reason for this!!......
90% of traders use TA, indicators and prediction
  • #285,997
  • Aug 9, 2011 4:26am Aug 9, 2011 4:26am
my daily chart still remember me a required test of previous downtrend.

also remember me where i suppose to see price in next trading sessions

after this range won't go straight up or straight down....
somewhere will stop n come back

gosh..... I HOPE!
Attached Image (click to enlarge)
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90% of traders use TA, indicators and prediction
  • #285,998
  • Aug 9, 2011 4:36am Aug 9, 2011 4:36am
meanwhile...

us dollar is being destroyed by everything! mostly by gold n chf....

GU goes up despite bad data less than 1hour ago..
90% of traders use TA, indicators and prediction
  • #285,999
  • Aug 9, 2011 4:38am Aug 9, 2011 4:38am
2 x PB candles 30min - nice trigger to the long.

G/L
Attached Image
ex member
  • #286,000
  • Aug 9, 2011 4:43am Aug 9, 2011 4:43am
Finishing here for session/day with final look @ near-term 1hr.

Just as typing this some supply coming in at 6408 current daily hi.

Volatile conditions in this 6474-6222 4hr range at the moment.


G/L
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ex member
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