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Cable Update (GBPUSD)

  • #291,401
  • Oct 27, 2011 11:57am Oct 27, 2011 11:57am
Hi mate

I would question wether there is indeed a weekly down trend ?...sure there was a downside breakk of the congestion shown by horizontal red channel below and a LL below it at that 5270 (current yearly lo) and now bounce back inside it ...but in respect of overall price action-peak/valley analysis there is no established doewntrend yet on this t/f. It's 100sma remains below it's 200sma so general sentiment could be said to bearish on this weekly t/f, but this is as yet unsupported by PA.

We could however see a classic congestion 2nd b/o play - ie a false 1st b/o of congestion and a pullback to it and a truer 2nd b/o in direction of the 1st failed b/o...?: Time will tell.

G/L

Quoting smikester
....
Question is: Tomorrow being friday and all the above considered plus weekly down trend - are we going short here to, say, 1.43?
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ex member
  • #291,402
  • Oct 27, 2011 12:20pm Oct 27, 2011 12:20pm
Quoting smikester
..
Question is: Tomorrow being friday and all the above considered plus weekly down trend - are we going short here to, say, 1.43?
gosh you scared me..

umm maybe next Friday, after the UK's QE later more prominent and good NFP from US ?
but not 1.43 yet pls.. that's too far
  • #291,403
  • Oct 27, 2011 12:31pm Oct 27, 2011 12:31pm
Quoting bbmac
Hi mate

I would question wether there is indeed a weekly down trend ?...sure there was a downside breakk of the congestion shown by horizontal red channel below and a LL below it at that 5270 (current yearly lo) and now bounce back inside it ...but in respect of overall price action-peak/valley analysis there is no established doewntrend yet on this t/f. It's 100sma remains below it's 200sma so general sentiment could be said to bearish on this weekly t/f, but this is as yet unsupported by PA.

We could however see a [b][i]classic...
Thanks for your input. I agree it is questionable but I generally look at the 200ma for my personal definition and it's pointing down and we are trading below it. I'm not going to argue with your analysis because it's too valuable. I'm going to have to read up on "classic congestion 2nd b/o" now. Cheers. It's the cocktail hour, here..
Gone to a better place
  • #291,404
  • Oct 27, 2011 1:14pm Oct 27, 2011 1:14pm
[quote=Fudomyo;5079082]sleeping on the job again, huh?
actually, I hit my target, so I'm going to be sensible and close here too. was hoping for EU 61.8% at 4253 to pull us along to the TL cross, but this is good enough.

Yup..a little workout, a bite to eat ...i'll be right back on it...

Inserted Video
All systems of divination, like music itself,work through patterns.
  • #291,405
  • Oct 27, 2011 1:16pm Oct 27, 2011 1:16pm
Quoting Fudomyo
actually, I hit my target, so I'm going to be sensible and close here too. was hoping for EU 61.8% at 4253 to pull us along to the TL cross, but this is good enough.
son of a b. went without me

Quoting kaspopsicle
Yup..a little workout, a bite to eat ...i'll be right back on it...
double

omg... I better go back to the music thread before I start making trouble....
  • #291,406
  • Oct 27, 2011 1:29pm Oct 27, 2011 1:29pm
Quoting Fudomyo
sleeping on the job again, huh?

actually, I hit my target,.
No chance of seeing a tar and feathering and pulled backwards through the town walls, then? Thanks for the charts. My post won't do justice as I've had a couple of merrymakers.
Gone to a better place
  • #291,407
  • Oct 27, 2011 1:31pm Oct 27, 2011 1:31pm
Quoting Fudomyo
son of a b. went without me



double

omg... I better go back to the music thread before I start making trouble....
Surely...don't go...omg what did i say..

Inserted Video
All systems of divination, like music itself,work through patterns.
  • #291,408
  • Oct 27, 2011 1:34pm Oct 27, 2011 1:34pm
Quoting gsantri
gosh you scared me..

umm maybe next Friday, after the UK's QE later more prominent and good NFP from US ?
but not 1.43 yet pls.. that's too far
Easily scared? Good NFP might mean stronger equities, weaker dollar. I hope so because my Swissie trades are going really well. What's this gosh? Did you go to Narkover School as well?
Gone to a better place
  • #291,409
  • Oct 27, 2011 1:39pm Oct 27, 2011 1:39pm
Strong market sentiment today.
The red 200 sma on the sma was hit.
Price peeked above the aqua 61 fib.

I am flat this pair after taking profits.

eur/usd is outa control.
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  • #291,410
  • Oct 27, 2011 2:00pm Oct 27, 2011 2:00pm
1.65 next target..

1.60 did what it needed to do to make a good support..should act as a base to go up ..1.62 tomorrow would be something
  • #291,411
  • Oct 27, 2011 2:03pm Oct 27, 2011 2:03pm
Quoting nAVIN2007
1.65 next target..

1.60 did what it needed to do to make a good support..should act as a base to go up ..1.62 tomorrow would be something
absolutely.
Hero calls followed by margin calls...
  • #291,412
  • Oct 27, 2011 2:23pm Oct 27, 2011 2:23pm
Quoting PhAnTi'
absolutely.
  • #291,413
  • Oct 27, 2011 2:36pm Oct 27, 2011 2:36pm
Quoting nAVIN2007
1.65 next target..

1.60 did what it needed to do to make a good support..should act as a base to go up ..1.62 tomorrow would be something
right on, guvnor
All systems of divination, like music itself,work through patterns.
  • #291,414
  • Oct 27, 2011 2:47pm Oct 27, 2011 2:47pm
Quoting nAVIN2007
1.65 next target..

1.60 did what it needed to do to make a good support..should act as a base to go up ..1.62 tomorrow would be something
I am happy for you, Nav.
  • #291,415
  • Oct 27, 2011 3:13pm Oct 27, 2011 3:13pm
Quoting ovaforty
I am happy for you, Nav.
be happy for me when it gets to 1.65..its conservative..I hope

thanks buddy!!
  • #291,416
  • Oct 27, 2011 7:06pm Oct 27, 2011 7:06pm
what about a long here in gbp aud?
a move of some 60-90 pips i mean....

about gbp usd i have a question: is it time for a long position now to get profits near 6250 6300 or is it time for a short near a good resitance area?

goodnight
90% of traders use TA, indicators and prediction
  • #291,417
  • Oct 27, 2011 7:57pm Oct 27, 2011 7:57pm
Quoting smikester
Easily scared? Good NFP might mean stronger equities, weaker dollar. I hope so because my Swissie trades are going really well. What's this gosh? Did you go to Narkover School as well?
Nope. Maybe I'm just trying to look (alec) smart
  • #291,418
  • Oct 27, 2011 8:45pm Oct 27, 2011 8:45pm
Quoting _BBKing_
what about a long here in gbp aud?
a move of some 60-90 pips i mean....

about gbp usd i have a question: is it time for a long position now to get profits near 6250 6300 or is it time for a short near a good resitance area?

goodnight
It's tempting indeed, but I'll let it consolidate more. After passing the alligator maybe I'll get in on the first pullback. Then I will see it reaction to the DP and daily 50.

And most likely, long GBPAUD will open the gate for me to short cable (thanks ovaforty)
.
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  • #291,419
  • Oct 27, 2011 9:33pm Oct 27, 2011 9:33pm
now agree.... 604x/5x broken already
Quoting nAVIN2007
1.65 next target..

1.60 did what it needed to do to make a good support..should act as a base to go up ..1.62 tomorrow would be something
not euphoria follower
  • #291,420
  • Oct 27, 2011 9:54pm Oct 27, 2011 9:54pm
Quoting gsantri
It's tempting indeed, but I'll let it consolidate more. After passing the alligator maybe I'll get in on the first pullback. Then I will see it reaction to the DP and daily 50.

And most likely, long GBPAUD will open the gate for me to short cable (thanks ovaforty)
.
shhhhhhh.
Dont be passin' no secrets....


We got a little Asian session squeeze goin' on for now.

I am not feeling any reversal in sentiment as yet.

eastern europeans started this run. will they bail, or continue?
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