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Cable Update (GBPUSD)

  • #289,161
  • Sep 21, 2011 3:43am Sep 21, 2011 3:43am
Hope everyone was well positioned for that fall. There have been enough rumours about further QE, economic prospects, continued low interest rates, severe public sector cuts, IMF reports... The list goes on.
Gone to a better place
  • #289,162
  • Sep 21, 2011 3:46am Sep 21, 2011 3:46am
if below 5600 a reaction can happen near 5580
90% of traders use TA, indicators and prediction
  • #289,163
  • Sep 21, 2011 3:47am Sep 21, 2011 3:47am
Wish to See 1.55-1.54
If there was easy money lying around,no one would be forcing it into your
  • #289,164
  • Sep 21, 2011 3:48am Sep 21, 2011 3:48am
Quoting cgldsmth
time to accumulate medium-term longs to hold to 6200
1st very short term target would b 1.566 i guess

I want to start accumulating too but not yet - TP 1.59
  • #289,165
  • Sep 21, 2011 3:50am Sep 21, 2011 3:50am
Quoting smikester
Hope everyone was well positioned for that fall. There have been enough rumours about further QE, economic prospects, continued low interest rates, severe public sector cuts, IMF reports... The list goes on.
it was something like that i posted yesterday
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90% of traders use TA, indicators and prediction
  • #289,166
  • Sep 21, 2011 3:50am Sep 21, 2011 3:50am
pretty dovish minutes then with Posen garnishing another vote for Qe expansion and the matter seriously discussed in light of worsening data re economic conditions and forecasts..price has moved below monday's5632 lo and deeper into that previous daily swing hi zone finding some relief (at the moment anyway) at weekly S2...pretty bearish picture overall though re this pairing just now !?

G/L

Quoting smikester
Hope everyone was well positioned for that fall. There have been enough rumours about further QE, economic prospects, continued low interest rates, severe public sector cuts, IMF reports... The list goes on.
ex member
  • #289,167
  • Sep 21, 2011 3:56am Sep 21, 2011 3:56am
....that previous daily swing hi zone (previous resistance) runs down to 5598..below here:

5585 Daily S3 @/around
5530 Mthly S3 @/around
5519 Weekly S3 @/around
5485 50% 4225-6746
5444-5405 prev minor dly swing lo zone
5360-5343 prev dly/weekly/minor mthly swing lo zone
5188 61.8% 4225-6746
4819 76.4% 4225-6746

leaves near-term current 1hr as below,

G/L
Attached Image
ex member
  • #289,168
  • Sep 21, 2011 4:17am Sep 21, 2011 4:17am
Hi all,

I put Long for cable @1.5635 and tp @1.573 sl 1.5590, expected tp within this week.

Cheers
  • #289,169
  • Sep 21, 2011 4:18am Sep 21, 2011 4:18am
It goes without saying the topside test failed. 5655 support as resistance test coming in the short term before we seriously challenge 5600.

we've covered the daily ATR and are very close to the TL test on the Monthly. Now we need to see if Bernanke pulls a rabbit out of his hat for the next big move.


[quote=Fudomyo;4969413]1.5777 is my line for potential trend reversal. If we can get above there, 1.5950 is my next upside target. If we don't get above 1.5777, then 1.5550 area is on the table next leg down. 1.5550 is my line in the sand for a bounce and a retest of the descending TL breakout test.

If that doesn't firm support, 1.5000 is in the cards.

So far the down trend is still intact, so no serious longs here until I see 5777 go.[/QUOTE
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  • #289,170
  • Sep 21, 2011 4:19am Sep 21, 2011 4:19am
Quoting wormboy
So where's that chump with the cereal bowl & breaking over 1.59 yesterday?
Not so precise now are ya?

The next time any of these clowns come up with their long term prediction without any proper analysis except the usual useless blabber, you lot be sure to put them to the test. We are traders, not fortune tellers.


btw, I fully expect this fella to disappear for a few months until maybe when price reaches his 1.73, 1.8 or 2.1 targets & go "told ya" with no...
bump

So where's mr precision rice bowl?
Thank You
  • #289,171
  • Sep 21, 2011 4:19am Sep 21, 2011 4:19am
[quote=Fudomyo;4972833]It goes without saying the topside test failed. 5655 support as resistance test coming in the short term before we seriously challenge 5600.




Quoting Fudomyo
1.5777 is my line for potential trend reversal. If we can get above there, 1.5950 is my next upside target. If we don't get above 1.5777, then 1.5550 area is on the table next leg down. 1.5550 is my line in the sand for a bounce and a retest of the descending TL breakout test.

If that doesn't firm support, 1.5000 is in the cards.

[b]So far the down trend is still intact,...
Thank You
  • #289,172
  • Sep 21, 2011 4:24am Sep 21, 2011 4:24am
Quoting wormboy


mr. precision rice bowl?
  • #289,173
  • Sep 21, 2011 4:26am Sep 21, 2011 4:26am
that previous (non-immed) daily swing hi [prev resistance] is shown here (clearly demand there Weekly S2 too..bounce from there are current daily/weekly lo-5610.

G/L
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Attached Image
ex member
  • #289,174
  • Sep 21, 2011 4:30am Sep 21, 2011 4:30am
Quoting Fudomyo

mr. precision rice bowl?
yea gave me lip about how precise he is & all that crap. big mistake
Thank You
  • #289,175
  • Sep 21, 2011 4:31am Sep 21, 2011 4:31am
Quoting bbmac
that previous (non-immed) daily swing hi [prev resistance] is shown here (clearly demand there Weekly S2 too..bounce from there are current daily/weekly lo-5610.

G/L
640 for me here. we close below that we'll continue to dive i reckon, bounce here ... well prolly won't mean much except for scalps. No trend change without a new HL (D1 at least)
Thank You
  • #289,176
  • Sep 21, 2011 4:43am Sep 21, 2011 4:43am
Hi Mate, yeh agree.

Quoting wormboy
640 for me here. we close below that we'll continue to dive i reckon, bounce here ... well prolly won't mean much except for scalps. No trend change without a new HL (D1 at least)
-------------------------------------------

very oversold conditions on t/f's to 30min at the lo...5min shown below - a breech of the 161.8% (narrow red dotted) OS Channel which contains 98% of PA on that t/f...weekly S2 in the mix there too...

I guess next 'real test' is the Fed statement later today?

Outa here.

G/L
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ex member
  • #289,177
  • Edited 8:00am Sep 21, 2011 7:44am | Edited 8:00am
Possible Scenario
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If there was easy money lying around,no one would be forcing it into your
  • #289,178
  • Sep 21, 2011 7:57am Sep 21, 2011 7:57am
Quoting honeybhi
Hello guys

GU weekly
&
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  • #289,179
  • Sep 21, 2011 8:13am Sep 21, 2011 8:13am
Hi Guys

Long at .5600

5555 is my line in the sand for low of the day and I shall by some more if we reach that target however I think we will see a strong retrace right back up to at least daily open as this is way oversold at moment.

EDIT: BEFORE news this evening we will see at least a 50% retrace from whereever we are at, so my long positions should be reasonably safe.

If I have to enter at 5555 I shall go long to 5650 on both entries 5720 tp on the entry I have open at the moment.
  • #289,180
  • Sep 21, 2011 8:14am Sep 21, 2011 8:14am
Long @ 1.5617 TP @ 1.5900 - SL 1.5300
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