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Cable Update (GBPUSD)

  • #288,781
  • Sep 15, 2011 9:32am Sep 15, 2011 9:32am
Quoting ovaforty
lots of wood to chop above these price levels. Market has absorb the sell orders.

Quite a pull back from the pink 300 sma. It needs to reload.
  • #288,782
  • Sep 15, 2011 9:35am Sep 15, 2011 9:35am
Sad thing about cable these days- you used to see 300 pip day where cable would blow through stops now its up and down. On the hourly the descending trendline seems to have capped it for now. Looking for a long entry next as I missed the short.
Attached Image (click to enlarge)
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  • #288,783
  • Sep 15, 2011 9:38am Sep 15, 2011 9:38am
I posted here my past analysis that I posted in galation thread related the falling wedges in the case of Euro/CHF about weeks a go. But as Bro FX-Mindset told in his previous post about falling wedges PA formation in daily cable now its correct according to my knowledge.. if there is a breakout on the PA of falling wedges the case would be like a strong bullish (if thre is a breakout) let see the sample what happen if there is a breakout in falling wedges in the euro/chf case that I posted many week a go in the galation thread..

Note: and if U see now the Euro CHF moves after the bullish pennant it did a strong Bullish for twice

The chart is attached..

May would be useful for our good together

Salam
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  • #288,784
  • Sep 15, 2011 9:40am Sep 15, 2011 9:40am
We just used last weeks low as resistance.
Gone to a better place
  • #288,785
  • Sep 15, 2011 9:41am Sep 15, 2011 9:41am
..
Attached Image
Thank You
  • #288,786
  • Sep 15, 2011 9:42am Sep 15, 2011 9:42am
Quoting sinchan
I posted here my past analysis that I posted in galation thread related the falling wedges in the case of Euro/CHF about weeks a go. But as Bro FX-Mindset told in his previous post about falling wedges PA formation in daily cable now its correct according to my knowledge.. if there is a breakout on the PA of falling wedges the case would be like a strong bullish (if thre is a breakout) let see the sample what happen if there is a breakout in falling wedges in the euro/chf case that I posted many week a go in the galation thread..

Note: and if...
My drawing doesnt mean really correct bro,Trade well yo
If there was easy money lying around,no one would be forcing it into your
  • #288,787
  • Sep 15, 2011 9:44am Sep 15, 2011 9:44am
Quoting wormboy
..

wormie whats yur take on this brother!?
  • #288,788
  • Sep 15, 2011 9:51am Sep 15, 2011 9:51am
Quoting nAVIN2007
wormie whats yur take on this brother!?
he took out my stops. I made three pips on those shorts.
Gone to a better place
  • #288,789
  • Sep 15, 2011 9:52am Sep 15, 2011 9:52am
Market sentiments are given a strong boost after ECB announced to coordinate with Fed, BoE, BoJ and SNB to conduct three US dollar liquidity providing operations eurozone banks to cover the rest of the year.

from Action Forex website
  • #288,790
  • Sep 15, 2011 9:52am Sep 15, 2011 9:52am
Quoting smikester
he took out my stops. I made three pips on those shorts.
better than nothing buddy
  • #288,791
  • Sep 15, 2011 9:53am Sep 15, 2011 9:53am
Quoting ovaforty
Market sentiments are given a strong boost after ECB announced to coordinate with Fed, BoE, BoJ and SNB to conduct three US dollar liquidity providing operations eurozone banks to cover the rest of the year.

from Action Forex website

whats yur views on this...what do u think it will do?
  • #288,792
  • Sep 15, 2011 9:57am Sep 15, 2011 9:57am
Quoting nAVIN2007
wormie whats yur take on this brother!?
Just a retest of the broken previous day high resistance which is a norm. I'll be looking to add once this hourly close cleanly above the resistance.
We're going up for today

Quoting wormboy
[color="Blue"]Back to trading.

I had taken the counter trade by buying 2 lots @5817 with emergency stop placed @5690 & tp placed @5950. The reason for the long taken is that the i/d bias had flipped bullish as the hourly closed cleanly above the daily open price.
Price is however facing some resistance at the previous day high which coincidentally is also around the same resistance level we've been seeing all week. I will add to my trade position if price close above the previous day high & I will look to cut my loss if price closes back below...
Attached Image(s) (click to enlarge)
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Thank You
  • #288,793
  • Sep 15, 2011 10:00am Sep 15, 2011 10:00am
Quoting smikester
he took out my stops. I made three pips on those shorts.
here's your chance to bounce with me
Thank You
  • #288,794
  • Sep 15, 2011 10:00am Sep 15, 2011 10:00am
Looks like the GBP may be heading lower.
Attached Image (click to enlarge)
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  • #288,795
  • Sep 15, 2011 10:02am Sep 15, 2011 10:02am
Quoting ovaforty
Market sentiments are given a strong boost after ECB announced to coordinate with Fed, BoE, BoJ and SNB to conduct three US dollar liquidity providing operations eurozone banks to cover the rest of the year.

from Action Forex website
Apparently when this last happened back in 2008 Euro rallied and then closed lower on the day. Really like any knee jerk reaction it quickly gets asborbed into the main price action. Cable slowed down by eurgbp. So I don't see a big move higher till that runs into resistence
Attached Image (click to enlarge)
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  • #288,796
  • Sep 15, 2011 10:02am Sep 15, 2011 10:02am
Quoting wormboy
Just a retest of the broken previous day high resistance which is a norm. I'll be looking to add once this hourly close cleanly above the resistance.
We're going up for today
nice to see u on the same ship
  • #288,797
  • Sep 15, 2011 10:03am Sep 15, 2011 10:03am
Quoting wormboy
I'll be looking to add once this hourly close cleanly above the resistance.


Woops no, "dirty close". Won't be adding.
Mean dogs guarding this gate the whole week.
Attached Image (click to enlarge)
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Thank You
  • #288,798
  • Sep 15, 2011 10:03am Sep 15, 2011 10:03am
Quoting nAVIN2007
whats yur views on this...what do u think it will do?
usd will be bought.
The chf also announced some rogue trader cost them a few billion dollars.
  • #288,799
  • Sep 15, 2011 10:07am Sep 15, 2011 10:07am
Quoting ovaforty
usd will be bought.
The chf also announced some rogue trader cost them a few billion dollars.

im guessing but i think it will be the opposite

FED will print more than ever, creating more debt, diluting USD like in same way QE does..but i have no idea really i completely guessing and hoping
  • #288,800
  • Sep 15, 2011 10:07am Sep 15, 2011 10:07am
Quoting wormboy
Woops no, "dirty close". Won't be adding.
Mean dogs guarding this gate the whole week.
Brother I think, U need to be patient at least for early next week to do long for longer term trade I think my Brother if there is a breakout.. But Who knows
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