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Cable Update (GBPUSD)

  • #290,161
  • Oct 7, 2011 8:01am Oct 7, 2011 8:01am
Quoting Wulfgar
typical...
90% of traders use TA, indicators and prediction
  • #290,162
  • Oct 7, 2011 8:08am Oct 7, 2011 8:08am
Quoting honeybhi
PA looking bullish so far ahead of NFP .

Should this continue next should be 1.5630 and above that 1.5720 area.

Below 1.55 would be bearish .
It will be a bumpy ride mate.. i think we wont see price above 5600 today. IMHO.
  • #290,163
  • Oct 7, 2011 8:09am Oct 7, 2011 8:09am
up down up down.

i leave.... my week is done and im busy till late today.
good luck you all and have a good weekend
90% of traders use TA, indicators and prediction
  • #290,164
  • Oct 7, 2011 8:15am Oct 7, 2011 8:15am
Quoting Flatfish
30 min cable. Back in the channel looking to short around 1.56 top of channel and 100ema on 4hr chart. Small stop as looking to sell a news spike- my plan see if it happens
Trade went as planned banked 50 pips
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  • #290,165
  • Oct 7, 2011 8:16am Oct 7, 2011 8:16am
This is my tech level. at most maybe price will hit 562x.. but i'm out for today.. resume next week..

Have a nice weekend guys..
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  • #290,166
  • Oct 7, 2011 8:16am Oct 7, 2011 8:16am
Quoting honeybhi
PA looking bullish so far ahead of NFP .

Should this continue next should be 1.5630 and above that 1.5720 area.

Below 1.55 would be bearish .
If risk is back on USD should drop more next week. So far 5600 is holding.

Not bad for first week after quarterly close. Next week should pick up more.

Quoting Fudomyo
we need to take out 5600 which is the yearly doji center before thinking about 5900. as long as 5300 holds it's not impossible.
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  • #290,167
  • Oct 7, 2011 9:13am Oct 7, 2011 9:13am
man I take back what i said about the GU bein beairsh due to the increased stimulus

this thing is a fuggin juggernaut since then....

1trn$s worth of stim and the currency just kills everything....

unbelievable...
  • #290,168
  • Oct 7, 2011 9:18am Oct 7, 2011 9:18am
Quoting Wulfgar
man I take back what i said about the GU bein beairsh due to the increased stimulus

this thing is a fuggin juggernaut since then....

1trn$s worth of stim and the currency just kills everything....

unbelievable...
lol... amazing!

there were a shit load of buyers under 5300. one thing to keep in mind is the 1300 pip drop may have priced some of this in.

R2 next.
  • #290,169
  • Oct 7, 2011 9:22am Oct 7, 2011 9:22am
I still believe to never analyze the market but observe the market ..No matter what the analyst or logic tell us..Good Luck !!
  • #290,170
  • Oct 7, 2011 9:24am Oct 7, 2011 9:24am
Quoting Fudomyo
lol... amazing!

there were a shit load of buyers under 5300. one thing to keep in mind is the 1300 pip drop may have priced a lot of this in.

oh most definately... and not to say in the mid term it wont drop more

but this last 36 hours has been one for the books... what a short squeeze we are in!! only question now is where is this thing gonna cap at? 5700 looks tough...
  • #290,171
  • Oct 7, 2011 9:29am Oct 7, 2011 9:29am
Quoting honeybhi
PA looking bullish so far ahead of NFP .

Should this continue next should be 1.5630 and above that 1.5720 area.

Below 1.55 would be bearish .
Closing longs here at 1.5630 .Done for the week.

Lots of pips this week trading up and down .

Quoting Fudomyo

R2 next.


Have a great weekend all .
  • #290,172
  • Oct 7, 2011 10:13am Oct 7, 2011 10:13am
Quoting honeybhi
Closing longs here at 1.5630 .Done for the week.

Lots of pips this week trading up and down .





Have a great weekend all .
Here comes the retrace. Should be another 40 pips in this at least
  • #290,173
  • Edited 10:27am Oct 7, 2011 10:17am | Edited 10:27am
Quoting Wulfgar
oh most definately... and not to say in the mid term it wont drop more

but this last 36 hours has been one for the books... what a short squeeze we are in!! only question now is where is this thing gonna cap at? 5700 looks tough...
where we are now is pretty significant level. we haven't closed above 5620 since Sept 20. if this doesn't contain price, then 5700 is in the works. that's also the MPP area (5720) so critical for longer term trend reversal.

there's a few scenarios that could play out,

a range this month between 5700 and 5300.

irrational exuberance and a climb to 5900 or 6100. (I gave up on being rational about cable ages ago, so if we go, I'll be on board.) or, we take out 5300.

I'm not even going to guess at longer term direction until 5300 or the MP go.

Quoting honeybhi
Lots of pips this week trading up and down .

Have a great weekend all .
like ping pong! lol

have a great weekend too
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  • #290,174
  • Oct 7, 2011 10:18am Oct 7, 2011 10:18am
Quoting andri66
I still believe to never analyze the market but observe the market ..No matter what the analyst or logic tell us..Good Luck !!
Back in 2005, when I first start trading, I always question the market what was the logic behind the moves, then I started to believe in the conspiracy story on the smart money, big player, etc...

Later, I found out that everything already been answered by the price itself (candlesticks). So, my advice is, if you want to master the market, master the candlestick(s) pattern by heart. Use the indicators as your gauge, definitely not for your trading decision tools and if possible avoid thinking the outcome of the news/fundamental datas.

That's my 2 cents.
  • #290,175
  • Oct 7, 2011 10:32am Oct 7, 2011 10:32am
Later, I found out that everything already been answered by the price itself (candlesticks). So, my advice is, if you want to master the market, master the candlestick(s) pattern by heart. Use the indicators as your gauge, definitely not for your trading decision tools and if possible avoid thinking the outcome of the news/fundamental datas.



.....Good advise; candlesticks - particularly on the daily chart.
  • #290,176
  • Oct 7, 2011 11:00am Oct 7, 2011 11:00am
little up here ok but not happy for . still it seems go down as low as 1.500 before the up start while eu 1.3200 to low & started short position there to see next , may not be today, next week's play .

usdx giving short signal but the correction over as high as top again remain intact before any great failure . not permanent but semi-permanent ok .
fontu
Attached Image (click to enlarge)
Click to Enlarge Name: usd20.gif Size: 7 KB
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #290,177
  • Oct 7, 2011 11:48am Oct 7, 2011 11:48am
Quoting fontu
little up here ok but not happy for . still it seems go down as low as 1.500 before the up start while eu 1.3200 to low & started short position there to see next , may not be today, next week's play .

usdx giving short signal but the correction over as high as top again remain intact before any great failure . not permanent but semi-permanent ok .
fontu
i see your analysis, thankyou....... i also see doji from 5 Oct 15470..?
All systems of divination, like music itself,work through patterns.
  • #290,178
  • Oct 7, 2011 12:01pm Oct 7, 2011 12:01pm
Quoting kaspopsicle
i see your analysis, thankyou....
thanks for reading .
usdx dialogue in support of the views .
fontu
Attached Image(s) (click to enlarge)
Click to Enlarge Name: usd20.gif Size: 8 KB
Click to Enlarge Name: usd21.gif Size: 7 KB
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #290,179
  • Oct 7, 2011 12:35pm Oct 7, 2011 12:35pm
Quoting fontu
thanks for reading .
usdx dialogue in support of the views .
fontu
Thank you once again for your perception and explanation. My usdx charting is not as it should be...technical problems as well as handler problems.(me)

i was just wondering whether the doji on 5 Oct would be significant in a bearish landscape. I fully agree with your analysis that we have more downside to go before we go up, however that doji worries me slightly.So i'm now seeing that a reversal to the topside before/on /within few pips of 15500 would confirm bulls into play. Movement close to 15470 would look for more down to 450, 350 etc. Please excuse me , i'm learning how to look at the bigger picture.
Attached Image (click to enlarge)
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All systems of divination, like music itself,work through patterns.
  • #290,180
  • Oct 7, 2011 1:24pm Oct 7, 2011 1:24pm
Quoting kaspopsicle
Thank you once again for your perception and explanation. My usdx charting is not as it should be...technical problems as well as handler problems.(me)

i was just wondering whether the doji on 5 Oct would be significant in a bearish landscape. I fully agree with your analysis that we have more downside to go before we go up, however that doji worries me slightly.So i'm now seeing that a reversal to the topside before/on /within few pips of 15500 would confirm bulls into play. Movement close to 15470 would look for more down to 450, 350 etc. Please...
The doji not at any extreme in gu & may not be any significant beyound some correction before join what doing before.
daily tf gu dialogue .
Thanks ,
fontu
Attached Image (click to enlarge)
Click to Enlarge Name: usd21.gif Size: 9 KB
Not understand?better not follow my analyses!doubt clearer first, risks ++
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