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Cable Update (GBPUSD)

  • #290,001
  • Oct 4, 2011 5:59am Oct 4, 2011 5:59am
Quoting Flatfish
Cable charts pretty messy. The market expecting QE on Thursday so would expect market to be prepared to make a large move then.
As a comparison 4hr gbp/jpy- very similar to cable with usd/jpy being flat. But is shows the channel much clearer- and indicates further weakness cable. No trade in cable other than the usual scalps as far as I can see today


Even though on Sunday I stated that QE will unlikey be implemented until GDP figures are negative, I was watching the Conservative Party Conference last night and George Osborne stated that the BoE would have full backing from the Government if they implemented further QE.

Therefore, this with the recent bad numbers out of the UK increases the probability of further QE, which is not good for the currency!

BUT, remember the old adage, sell the rumour, buy the news or vice versa!
  • #290,002
  • Oct 4, 2011 6:52am Oct 4, 2011 6:52am
Quoting MonsterPips
i went short early morning asia session @ 1.5424, TP 1.5110
hello
i was posting this
then i noticed your chart.

i have similar setup. mine is based on that old daily downtrend channel.
could be wrong, we can see price out down of it. this would open for your 51 target.

surely first hourly demand area is near 5330 sept lowest.
then another one is near 5270 lower black daily line.

in weekly chart there is major area near 5060.
this week we will know where price will find demand.
or better.... IF price will find demand at some level
Attached Image (click to enlarge)
Click to Enlarge Name: gu.jpg Size: 101 KB
90% of traders use TA, indicators and prediction
  • #290,003
  • Oct 4, 2011 7:51am Oct 4, 2011 7:51am
clean clear break either side for some crumbs..
Attached Image
We cannot direct the winds but we can adjust our sail.
  • #290,004
  • Oct 4, 2011 9:08am Oct 4, 2011 9:08am
GU is testing the important support 5330 now.
  • #290,005
  • Oct 4, 2011 9:14am Oct 4, 2011 9:14am
40 pips bounce from that TL
Attached Image (click to enlarge)
Click to Enlarge Name: gu_.jpg Size: 128 KB
90% of traders use TA, indicators and prediction
  • #290,006
  • Oct 4, 2011 9:18am Oct 4, 2011 9:18am
gotta love how the fed announcement came right at support test. perfect.

Attached Image (click to enlarge)
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  • #290,007
  • Oct 4, 2011 9:22am Oct 4, 2011 9:22am
Quoting Fudomyo
gotta love how the fed announcement came right at support test. perfect!


absolutely..dont believe these things happen by chance..is friggin unbelievable how it happen thou
  • #290,008
  • Oct 4, 2011 9:26am Oct 4, 2011 9:26am
Quoting nAVIN2007
absolutely..dont believe these things happen by chance..is friggin unbelievable how it happen thou
yep. you can practically set your clock to it, the timing's so accurate. lol
Attached Image (click to enlarge)
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  • #290,009
  • Oct 4, 2011 9:41am Oct 4, 2011 9:41am
Quoting Fudomyo
yep. you can practically set your clock to it, the timing's so accurate. lol
always the same!
price was struggling to get that line since yesterday.....

triggered trailing stop i let my long to run for a while
90% of traders use TA, indicators and prediction
  • #290,010
  • Oct 4, 2011 9:44am Oct 4, 2011 9:44am
Quoting _BBKing_
always the same!
price was struggling to get that line since yesterday.....

triggered trailing stop i let my long to run for a while
this one was a walk in the park. glad you caught it.
  • #290,011
  • Oct 4, 2011 9:45am Oct 4, 2011 9:45am
i will help myself with this m15 pattern
if goes out higher will search entry on re-test
Attached Image (click to enlarge)
Click to Enlarge Name: gu.jpg Size: 111 KB
90% of traders use TA, indicators and prediction
  • #290,012
  • Oct 4, 2011 9:48am Oct 4, 2011 9:48am
Quoting Fudomyo
this one was a walk in the park. glad you caught it.
thanks!
was waiting it since yesterday!
spent whole night with one eye open...
finally i got my fast 50 pips 50% n 50% still open SL be+3
if i see 5460 i will cut again
90% of traders use TA, indicators and prediction
  • #290,013
  • Oct 4, 2011 9:55am Oct 4, 2011 9:55am
euro took the space shuttle already out of earth
gbp good move up but moderated by today's bad numbers maybe....
90% of traders use TA, indicators and prediction
  • #290,014
  • Oct 4, 2011 10:01am Oct 4, 2011 10:01am
out whole +40
enough for my first trade of the week and m15 not showing what my plan said.
90% of traders use TA, indicators and prediction
  • #290,015
  • Oct 4, 2011 10:12am Oct 4, 2011 10:12am
Unable post it before but taken long again at bottom & now I see confirmation down gold & usdx to continue for more correction here with eu .
so short gold , with long gu & eu on the run .
fontu
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #290,016
  • Oct 4, 2011 10:13am Oct 4, 2011 10:13am
Noticed the 15m channel stopped the rally in its tracks- waiting to see what happens next
Attached Image (click to enlarge)
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  • #290,017
  • Oct 4, 2011 10:18am Oct 4, 2011 10:18am
re test 5500 ish level
not euphoria follower
  • #290,018
  • Oct 4, 2011 10:26am Oct 4, 2011 10:26am
BUt i must ask how do u justify that


5500



Quoting iqyu5an
re test 5500 ish level
We cannot direct the winds but we can adjust our sail.
  • #290,019
  • Oct 4, 2011 10:38am Oct 4, 2011 10:38am
eu M30 tf with 100ma top making the little turmoil with usdx up ,eu down & gu also but seems very temporary , watching & tp gold around 1604/00 & bounce some may change things , resume them .
waiting .
fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #290,020
  • Oct 4, 2011 10:52am Oct 4, 2011 10:52am
H1
Quoting posterboy
BUt i must ask how do u justify that


5500
Attached Image (click to enlarge)
Click to Enlarge Name: 5500.gif Size: 14 KB
not euphoria follower
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