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Cable Update (GBPUSD)

  • #286,121
  • Aug 11, 2011 12:40am Aug 11, 2011 12:40am
Quoting smikester
I'm holding shorts I set off 1.6240 this morning, the outcome of a straddle 1.6240 to 1.6280. I must say I am still bearish but the straddle trade should give you a clue as to my uncertainty - due more to volatility than anything.

The daily/weekly rising wedge over the last year looks like playing out - the lower trendline having been retested. But this pair is a mess for trend traders with complex support and resistance levels and trend lines and complicated by news releases and rumours.

Good luck to anyone trying to make sense of cable. It...
hello mate,
here in italy i listen to TV News about london but they say confused things about... as usually. I hope everything will go fine soon.

about GU in last 2-3 weeks im looking closely n deeply into technicals, without taking care of rumors on USD or UK QE etc.... and trades goes good! i mean hourly positions! thinking on a med term trade (more than 1-2days) looks like impossible actually
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  • #286,122
  • Aug 11, 2011 12:45am Aug 11, 2011 12:45am
Quoting Rom-pom-pom
hello,

i see a small short order in play in the gbp/usd. could be worth your time for a few quick pips down. here's a chart.
hello,
pip+ pip- i have a similiar idea
lets see if market will agree with us
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  • #286,123
  • Aug 11, 2011 2:05am Aug 11, 2011 2:05am
G/M,

Another equities sell off yesterday as fear continues in market probably exacerbated by the 'August effect' ie low volumes due to traders on holiday.

Cable saw a steep sell-off and decisive 2nd b/o of the recent 6474-6222 4hr/daily congestion to a 6111 Lo.

1hr/4hr are in opa downtrends, Daily has printed a L after a H before a HL.

Yesterday's Lo was @

6115 76.4% 6003-6474
6111 Weekly S2 @/around
below current price now a previous 1hr/4hr swing lo zone leading down to that lo incorportaing the above, and below here:

6089-68 prev 4hr sw lo zone
6057 Daily S1 @/around
6045 61.8% 5779-6474
6032-13-03 prev daily/4hr sw lo zone
5998 Weekly S3 @/around
5985 Daily S2 @/around
5976 Monthly S1 @/around
5944 76.4% 5779-6474
5914-04 prev minor 4hr swing lo zone
5875-5820-5779 prev daily/4hr swing lo zone
5849 Daily S3 @/around

Pullback from 6111 is challenging the previous 1hr/4hr swing lo zone leading up to 6220 now. Fibs on 1hr chart below drawn to that 6111 Lo from 6471, 6410 and 6335. Daily R1 @/around 6266, Daily R2 @/around 6402.


G/L


　
　
　
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ex member
  • #286,124
  • Aug 11, 2011 2:16am Aug 11, 2011 2:16am
regular bearish divergence to 15min at the current daily hi -6207 in that previous 1hr/4hr swing lo zone, 1hr hidden divergence developing.

G/L
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ex member
  • #286,125
  • Aug 11, 2011 2:19am Aug 11, 2011 2:19am
Price has challenged the underside of that breeched ascending trend line on this 4hr t/f - at today's current 6207 Hi.

How strong are the bears here? Ready for another leg down from here after yesterday's daily bear thrust b/o candle ? Time will tell.

G/L
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ex member
  • #286,126
  • Aug 11, 2011 2:24am Aug 11, 2011 2:24am
Update on 1hr:

G/L
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ex member
  • #286,127
  • Aug 11, 2011 2:27am Aug 11, 2011 2:27am
dollar looks stronger..
got a boost vs majors...
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  • #286,128
  • Aug 11, 2011 3:04am Aug 11, 2011 3:04am
Quoting gsantri
She heard me..?

+30 not safe yet though.
expecting pullback after/if macd cross zero level, to add some more.
GU long closed for 47 pips.

Got a bad feeling of BOJ intervention.
EJ buy position left running.
  • #286,129
  • Aug 11, 2011 3:40am Aug 11, 2011 3:40am
I don't know where market goes.... It makes me confuse...today its just hanging around and i can't find any signal of it. in 30 min MACD it look like to create position to go down. but when I saw in 1 hour MACD, the candle stick is going up...
what to do ...
the Index also looks just the same but it has trend down.....
I also can't predict the fibonacci....

please an advise...
Golden Goose Return This Month: na
  • #286,130
  • Aug 11, 2011 3:43am Aug 11, 2011 3:43am
all very mixed now on the lower t/f's...minor Uk data due at 10am London. Slightly bullish tone intraday in an overall mixed-bearish market at the moment.

G/L
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ex member
  • #286,131
  • Edited 4:37am Aug 11, 2011 4:21am | Edited 4:37am
Nice post Uk data drop from the recent lower t/f congestion 6207-6154...price approaching previous 1hr/4hr swing lo zone leading to today's current daily 6111 Lo.

Below current Lo:

6125-11 prev 1hr/4hr swing lo zone with 6115 76.4% 6003-6474 and 6111 Weekly S2 @/around
6089-68 prev 4hr sw lo zone
6057 Daily S1 @/around
6045 61.8% 5779-6474
6032-13-03 prev daily/4hr sw lo zone
5998 Weekly S3 @/around
5985 Daily S2 @/around
5976 Monthly S1 @/around
5944 76.4% 5779-6474
5914-04 prev minor 4hr swing lo zone
5875-5820-5779 prev daily/4hr swing lo zone
5849 Daily S3 @/around


Finishing here for session/day.

This place is dead..shame !

G/L
Attached Image
ex member
  • #286,132
  • Aug 11, 2011 4:47am Aug 11, 2011 4:47am
Quoting gsantri
GU long closed for 47 pips.

Got a bad feeling of BOJ intervention.
EJ buy position left running.
bro,
i was in that train @108.40
but i went out @109.10

good if you took the 109.70
anyway i see a bit consolidation should happen in 107 area...
what you think?
90% of traders use TA, indicators and prediction
  • #286,133
  • Aug 11, 2011 4:50am Aug 11, 2011 4:50am
Quoting lampuah
I don't know where market goes.... It makes me confuse...today its just hanging around and i can't find any signal of it. in 30 min MACD it look like to create position to go down. but when I saw in 1 hour MACD, the candle stick is going up...
what to do ...
the Index also looks just the same but it has trend down.....
I also can't predict the fibonacci....

please an advise...
hello,
my simple advice is: never forget faster chart.
m30 shown better than h1 this resistance in 6200.
Attached Image
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  • #286,134
  • Aug 11, 2011 4:54am Aug 11, 2011 4:54am
Quoting bbmac
Nice post Uk data drop from the recent lower t/f congestion 6207-6154...price approaching previous 1hr/4hr swing lo zone leading to today's current daily 6111 Lo.

Below current Lo:
.......


Finishing here for session/day.

This place is dead..shame !

G/L
you are right! im sorry, i should be more active....
will do better next days
90% of traders use TA, indicators and prediction
  • #286,135
  • Aug 11, 2011 4:56am Aug 11, 2011 4:56am
Can someone explain to me why the Cable is having this NASTY Price Action?
  • #286,136
  • Aug 11, 2011 5:01am Aug 11, 2011 5:01am
I think it is technical. Watch out for 1.61 (Fibonacci) support, if it goes through it will free fall 1.5975. My 2 cents.

Do not trade on my say so, I might well be wrong.

Regards
  • #286,137
  • Aug 11, 2011 5:02am Aug 11, 2011 5:02am
Quoting bbmac
Nice post Uk data drop from the recent lower t/f congestion 6207-6154...price approaching previous 1hr/4hr swing lo zone leading to today's current daily 6111 Lo.

Below current Lo:

6125-11 prev 1hr/4hr swing lo zone with 6115 76.4% 6003-6474 and 6111 Weekly S2 @/around
6089-68 prev 4hr sw lo zone
6057 Daily S1 @/around
6045 61.8% 5779-6474
6032-13-03 prev daily/4hr sw lo zone
5998 Weekly S3 @/around
5985 Daily S2 @/around
5976 Monthly S1 @/around
5944 76.4% 5779-6474
5914-04 prev minor 4hr swing lo zone
5875-5820-5779 prev daily/4hr swing lo...
i too entered a good short there. let's see whether it'll reach my targets around .6075. These will be some nice pips. Hope so.
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  • #286,138
  • Aug 11, 2011 7:02am Aug 11, 2011 7:02am
price actually in sideway around 61.8% fibo of main daily move
imho won't go far today.

lets see if NY will shake this thing a bit...
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  • #286,139
  • Aug 11, 2011 7:09am Aug 11, 2011 7:09am
Quoting _BBKing_
bro,
i was in that train @108.40
but i went out @109.10

good if you took the 109.70
anyway i see a bit consolidation should happen in 107 area...
what you think?
Hello mate, I have closed previous long on EJ averaged 63 p.

Just got in again @ 108.25 targeting 109.50, I still see bullish div on H1.
Green pips to u bro
G/L
  • #286,140
  • Aug 11, 2011 7:15am Aug 11, 2011 7:15am
actually,
at this price 6150 around,
i have no clear setup both for short or long position.......

boring
later will surely be better
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