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Cable Update (GBPUSD)

  • #290,541
  • Oct 15, 2011 6:05pm Oct 15, 2011 6:05pm
Quoting DubaiFX
Be careful it was false break out in GBP/USD and it may return soon as soon as Tuesday to 1.5660-80 level..

Just an advise,
but if it stayed above 1.58 level till Monday then it may test 1.6080 last major support which is strong Resistance now??
so watch GBPUSD on Monday closely guys and be very careful..

inside they are cooking something every one not only US .

Younas..
Don't compare your Trades with Others
  • #290,542
  • Oct 15, 2011 6:07pm Oct 15, 2011 6:07pm
Quoting DubaiFX
Be careful it was false break out in GBP/USD and it may return soon as soon as Tuesday to 1.5660-80 level..

Just an advise,

See my earlier post - lots of things are lining up for a pullback - price hitting 50 ema, bear flag formation inside of a falling wedge, low gaps to fill, stochastics are stretched out, volume decreased on the up move, bad data out of UK - highest unemployment in 17 years, more QE - Hey on October 6th when price crashed down to 1.5180 (futures price) only to slowly retrace back up.....hmmmmmm was that price move just a little foreshadowing of things to come - Someone dumped in a hurry and maybe they little guys thought hey buy buy buy the pound is cheap.......like you said be careful as there are too many signs that price will fall back down. I also remember reading something where a bank (can't remember which one) was saying the the pound will go down to 1.40 by the end of the year......we are only a couple of months away......and with the no show action of the G20......hmmmmmm things look ripe for a massive move down.
I don't trust any move - when you have profit...take it.
  • #290,543
  • Edited 6:28pm Oct 15, 2011 6:17pm | Edited 6:28pm
Daily Cable chart and what I see....notes are on chart.....We also have a Death Cross (http://www.investopedia.com/terms/d/...#axzz1arWPcCJH) where the short term 20 and 50 ema's have crossed below the long term 200 ema.....lots of potential for down movement.
Attached Image (click to enlarge)
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I don't trust any move - when you have profit...take it.
  • #290,544
  • Oct 15, 2011 6:44pm Oct 15, 2011 6:44pm
Quoting Faller
Daily Cable chart and what I see....notes are on chart.....We also have a Death Cross (http://www.investopedia.com/terms/d/...#axzz1arWPcCJH) where the short term 20 and 50 ema's have crossed below the long term 200 ema.....lots of potential for down movement.
Hey Faller

In relation to other sync prs, EU AU Cable Geppy Kiwi US Oil, are all showing exhaustion 4hr & Daily & Weekly close to strong resistance, selling is my style, we will be looking for medium term entries from Mon Tues onwards, we beleive once sellers defend and reject buyer, there is 3-6 weeks movement on the table is depend on pa speed
If Monday gap is up? we will wait price return below open and hold, is be our bus ticket, if gap down we ill be enter 1st rally and or from open.
We have physcotic bias to south, is dangerous mindset, for most, is drug for us
Trade safe bro
If you are new to Forex? Say Goodbye to your account!!
  • #290,545
  • Oct 15, 2011 7:18pm Oct 15, 2011 7:18pm
Quoting A-speculator
IMHO, I think it is too early to short cable... Personally I would like to see some sort of signs (consolidation, shooting star, etc..) in daily first before thinking into shorting this pair.

If you look at the hourly, 4 hour and 8 hour charts you see everything you are looking for.....there has been considerable consolidation also a shooting star (http://www.investopedia.com/terms/s/...#axzz1arWPcCJH) - shooting stars form before they appear on the daily charts - I will post a chart here it is the one hour futures chart for the pound - let me know what you think....
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I don't trust any move - when you have profit...take it.
  • #290,546
  • Oct 16, 2011 2:27am Oct 16, 2011 2:27am
With global cooperative talks towards a Euro bailout, BOE purchases (that GBP dumping didn't last long on the 6th )and Wall street wanting to make some bonus cheques before xmas, I wouldn't really think of shorting until at least 6000 and probably 6100. Just a thought.
Come with me if you want to live....
  • #290,547
  • Oct 16, 2011 4:07am Oct 16, 2011 4:07am
That gbp dumping on the 6th was due to BOE purchases to help Europe. Not good for the long term I agree but support won the day with a swift victory. We are doomed for a much bigger and deeper crash than 08 but not until investors finally come to grips with the true reality that there are no answers to this global crisis without the pain of a global depression. Not yet though I feel.
Come with me if you want to live....
  • #290,548
  • Oct 16, 2011 4:25am Oct 16, 2011 4:25am
Quoting _BBKing_
hello
what you say is not completely out of the way.

from here..
price need to get out of ascending trendlines seen in hourly timeframes.
if it does, can be a good confirmation for a down move to test the daily double bottom's neckline! if im not wrong it is around 5650

i dont have same downward wedge that you drawn in your chart, but i opened a short near 5800 too, only reason coz it can be a good supply area, but i must admit that is a very small lot with a stop loss @6150. its so small that if i go stopped i loose 5 or 10€ ....
If there was easy money lying around,no one would be forcing it into your
  • #290,549
  • Oct 16, 2011 5:49am Oct 16, 2011 5:49am
Quoting Faller
If you look at the hourly, 4 hour and 8 hour charts you see everything you are looking for.....there has been considerable consolidation also a shooting star (http://www.investopedia.com/terms/s/...#axzz1arWPcCJH) - shooting stars form before they appear on the daily charts - I will post a chart here it is the one hour futures chart for the pound - let me know what you think....
1hr is not good enough mate. I don't think 5800 is a very good resistance since it is very2 close to 1.6000 the magic number (triple zeros). If you see from my chart, the 50% retracement area is at about 5980 which is very close to 6000 and I think maybe it will get to this area before retrace back to test the top of the double bottom on 4h and the top of the doji in daily. The other chart which I zoomed out shows the significant of this area as a support turned resistance.

Since the difference in 38% and 50% for cable right now is at about 200pips, I won't jump into it. Afterall, I'm trading based on the daily chart so to lose a 200pips of trade is ok for me, and at time like this, I will seek other pairs which has a good setup to trade. Hope that helps.
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  • #290,550
  • Oct 16, 2011 6:33am Oct 16, 2011 6:33am
Quoting A-speculator
1hr is not good enough mate. I don't think 5800 is a very good resistance since it is very2 close to 1.6000 the magic number (triple zeros). If you see from my chart, the 50% retracement area is at about 5980 which is very close to 6000 and I think maybe it will get to this area before retrace back to test the top of the double bottom on 4h and the top of the doji in daily. The other chart which I zoomed out shows the significant of this area as a support turned resistance.

Since the difference in 38% and 50% for cable right now is at about 200pips,...
let me give you my heads up for cable..

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PS : are u really able to trade your charts? they are messed up ^^


Jonas
Hero calls followed by margin calls...
  • #290,551
  • Oct 16, 2011 6:42am Oct 16, 2011 6:42am
mine
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not euphoria follower
  • #290,552
  • Oct 16, 2011 7:11am Oct 16, 2011 7:11am
Quoting PhAnTi'
let me give you my heads up for cable..

Attachment

Attachment

PS : are u really able to trade your charts? they are messed up ^^


Jonas
Time will tell..

From the daily chart of yours, as I cannot see why we should short. Can you show me latest significant bearish candle to me so that I can at least think of taking short position? What you are doing is gambling and try to get lucky. Keep on guessing mate, perhaps you might get into the train real early...
  • #290,553
  • Oct 16, 2011 9:00am Oct 16, 2011 9:00am
This was one of the most sexyest channels I have ever seen ...
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  • #290,554
  • Oct 16, 2011 9:02am Oct 16, 2011 9:02am
Quoting LeanLowFx
This was one of the most sexyest channels I have ever seen ...

And how do you interpret that channel? Bullish or Bearish? Thanks!

Faller.
I don't trust any move - when you have profit...take it.
  • #290,555
  • Oct 16, 2011 12:52pm Oct 16, 2011 12:52pm
Cable hitting resistance. Dx hitting support...100ema at 660 coinciding with static support (almost)@ 689
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All systems of divination, like music itself,work through patterns.
  • #290,556
  • Oct 16, 2011 12:58pm Oct 16, 2011 12:58pm
just saw a major spike down on cable on xe.com here is a link http://www.xe.com/currencycharts/?from=GBP&to=USD

saw the same spike on Oanda
I don't trust any move - when you have profit...take it.
  • #290,557
  • Oct 16, 2011 1:45pm Oct 16, 2011 1:45pm
Quoting Faller
just saw a major spike down on cable on xe.com here is a link http://www.xe.com/currencycharts/?from=GBP&to=USD

saw the same spike on Oanda
Thanks for that link. my charts don't open 'till 21.00 gmt..another hour and a quarter. Forwarned is forearmed...
All systems of divination, like music itself,work through patterns.
  • #290,558
  • Oct 16, 2011 1:49pm Oct 16, 2011 1:49pm
Quoting Faller
just saw a major spike down on cable on xe.com here is a link http://www.xe.com/currencycharts/?from=GBP&to=USD

saw the same spike on Oanda
this happen many time Sunday before the market open.
now it is back up even at 1.5832
  • #290,559
  • Oct 16, 2011 1:58pm Oct 16, 2011 1:58pm
Quoting Abouelzelouf
this happen many time Sunday before the market open.
now it is back up even at 1.5832
Yes , nothing reliable before the market open to all , even Oanda to rest .
fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #290,560
  • Oct 16, 2011 5:08pm Oct 16, 2011 5:08pm
MACD is DOWN already in daily
it will test 5680 before anymove up if it holds above today 5820 then might be 5930 and then 1.6080 might be seen this week..

and about GBPJPY still brearish BOJ intervention may hit my stop if they dont then 120.80 is likely today to be seen before may move up..

Younas..
Don't compare your Trades with Others
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