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Cable Update (GBPUSD)

  • #286,221
  • Aug 14, 2011 5:30am Aug 14, 2011 5:30am
My weekly chart is more bearish to me than bullish. But with the low liquidity expected I don't see there will be enough to take 1.6 or 1.65. So would expect a quiet range for cable as market has bigger fish to fry like the swissy. Think we only have inflation data and BoE meeting minutes. But there won't be any chance of a surprise and the minutes are hawkish, so see it as a negative news week for cable. Just my ideas.
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  • #286,222
  • Aug 14, 2011 6:51am Aug 14, 2011 6:51am
i see the same but i am worried about daily candle... well let see how market open first to get clear ...

time will tell

rgds
Quoting Flatfish
My weekly chart is more bearish to me than bullish. But with the low liquidity expected I don't see there will be enough to take 1.6 or 1.65. So would expect a quiet range for cable as market has bigger fish to fry like the swissy. Think we only have inflation data and BoE meeting minutes. But there won't be any chance of a surprise and the minutes are hawkish, so see it as a negative news week for cable. Just my ideas.
not euphoria follower
  • #286,223
  • Aug 14, 2011 8:27am Aug 14, 2011 8:27am
Has been great week. Here is my view for tommorow

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  • #286,224
  • Aug 14, 2011 8:44am Aug 14, 2011 8:44am
Quoting iqyu5an
i see the same but i am worried about daily candle... well let see how market open first to get clear ...

time will tell

rgds
Fridays candle due to very poor US consumer sentiment. Wait till the next UK figures come out. High streets vandalised by rioters and two weeks of consumers wary to venture out with cash i their pockets. Last week in Zurich the price of a Big Mac almost £12. UK consumer beginning to realise, with fuel increases. that another cold winter like last year will make many families have to live on one room.
  • #286,225
  • Aug 14, 2011 8:47am Aug 14, 2011 8:47am
Quoting volforex
Has been great week. Here is my view for tommorow

Attachment

why is what u have draw not a bullish pennant?
  • #286,226
  • Aug 14, 2011 2:23pm Aug 14, 2011 2:23pm
Quoting iqyu5an
i see the same but i am worried about daily candle... well let see how market open first to get clear ...

time will tell

rgds
I too is worried about the Daily candle. If the candle turns Red I'm probably gonna sell all the way down to 1.611314. In my opinion the decline will last maybe till 15 Aug 2011, 07:30 am. From that low I think we shall see the cable rising up to reach a High of 1.64 by the end of this week. I Just hope i'm right, only time will tell.
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  • #286,227
  • Aug 14, 2011 3:00pm Aug 14, 2011 3:00pm
a lot of people think on short position.
imho it is possible a re-touch near 6250 but i expect first move will be up.

i agree on wormboy's idea: 6315 (previous day high) n 6340-60 area should find supply.
demand should happen in 6230-50 range.

i will be interested at these levels for openings but im bit in favour to find out a buy level.

few time left for openings.. could some one post a chart with actual price moving in interbank market?
90% of traders use TA, indicators and prediction
  • #286,228
  • Aug 14, 2011 3:17pm Aug 14, 2011 3:17pm
this is what i see:
in h1 price looks able to hold above ema200 (white)
upper blue area is where i expect to find supply n search for a short position with stops out of red pattern.

below i have ema60 (green) coming up and actually near previous swoing high 6250. lower blue area is where i expect to find demand n search for a long position with stops out of yellow pattern.

in h4 looks like growing up a bull flag with a bottom still possible into 60 area.
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90% of traders use TA, indicators and prediction
  • #286,229
  • Aug 14, 2011 3:27pm Aug 14, 2011 3:27pm
anyway guys i would suggest a bit thing:

seen below is m1 PA near the yellow pattern i posted in previous chart. price near 6310 unable to go above it finding supply with a clear divergence in macd.

was few minutes before last news in usa.
price was sayn down! and went down 30-40 pips...

never try to predict market! imho, a good work is to define levels where we could expect reactions, read charts near those levels and trade the thing!
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  • #286,230
  • Aug 14, 2011 3:38pm Aug 14, 2011 3:38pm
refreshed my daily chart
added some levels
changed some others
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90% of traders use TA, indicators and prediction
  • #286,231
  • Aug 14, 2011 4:12pm Aug 14, 2011 4:12pm
hey fellas, I figure H1 long legged doji @ 50 fibo from previous swing, also we did 200 pips from 6100, so it's time to do some downside. Only bothering me that it's too close to MP. Still looking to get in short soon time.
  • #286,232
  • Aug 14, 2011 4:18pm Aug 14, 2011 4:18pm
friday i let a bit of a long position open when i noticed a very possible support by ema 60(green) in m15

looks like a good choice.
anyway position is small. im waitin patient to see something good
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  • #286,233
  • Aug 14, 2011 4:21pm Aug 14, 2011 4:21pm
fogin crap just noticed the Dukas spread on cable @ asian. omg its 9 pips, are you kidding me?
  • #286,234
  • Aug 14, 2011 4:24pm Aug 14, 2011 4:24pm
Quoting ruffryders
fogin crap just noticed the Dukas spread on cable @ asian. omg its 9 pips, are you kidding me?
hi
same here on fxpro 5 pips
low liquidity!

thats why usually i never trade @weekly openings
90% of traders use TA, indicators and prediction
  • #286,235
  • Aug 14, 2011 4:28pm Aug 14, 2011 4:28pm
oh, it got down to a manageable 4 pips already, keep going though. not just for that damn 47 level to get activated and we are good to go.
  • #286,236
  • Aug 14, 2011 4:32pm Aug 14, 2011 4:32pm
i figure that 6311 was just a fake box break out, lets see though. hopefully before LBO.
  • #286,237
  • Aug 14, 2011 4:37pm Aug 14, 2011 4:37pm
friday 6285 was resistance in faster TF m1-5-15-30
90% of traders use TA, indicators and prediction
  • #286,238
  • Aug 14, 2011 4:38pm Aug 14, 2011 4:38pm
italian austerity measures taken could be the reason of upward in euro.....
90% of traders use TA, indicators and prediction
  • #286,239
  • Aug 14, 2011 4:51pm Aug 14, 2011 4:51pm
I tried to short the small gap up, got in with a 4pip spread, but now the spread is at 14, and I'm -2. All the other spreads on my broker have gone down.. EU is 8. GJ went from 20 to 12, and cable went up..
  • #286,240
  • Aug 14, 2011 4:52pm Aug 14, 2011 4:52pm
i figure with such liquidity not much gonna happen before LBO really.
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