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Cable Update (GBPUSD)

  • #292,901
  • Edited 12:28pm Nov 19, 2011 9:56am | Edited 12:28pm
Quoting nAVIN2007
I personally think Euro is to big to fall and for this reason i have hope..which is probably a ignorant view considering what america has to put up with

gold will go up over time and so will oil taking cable up

view is very much dependant on USD or EU next week ..market has stopped right at Resistance for USD..WHICH WOULD TAKE RIGHT BACK TO 1.59..break above 1.60..should take us toward 1.65 and above perhaps to test the breakout toward the downside (retest the ascending trendline (see weekly)

or we go towards 1.5638 area

positive for...
I'm afraid I have to agree with that part.

Speaking of dollar means NYSE.
Even if one ignore all the fundamental situation, the charts would say it all: Trouble is brewing.

Chart I, NYSE composite index.
U.S. equities are plunging out of technical consolidation on big volume and deeply negative breadth.
a sign of overwhelming selling pressure that's likely to continue over the medium term.

Chart II, Cyclicals Stocks versus Consumer.
When cyclicals are leading the consumer, you want to be in stocks.
But when makers of mac and cheese and toothpaste start outperforming makers of sheet metal and heavy equipment, it's time to get nervous. you want to be sitting in cash on the sidelines if possible.
Dollar up, stocks go down as well as commodities. But only time will tell.


A great analysis by Anthony Mirhaydari: STOCK BULLS ARE IN FULL RETREAT.
.
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  • #292,902
  • Nov 19, 2011 10:19am Nov 19, 2011 10:19am
anyone know where is quiksilver is?...
be patient, self-belief and discipline... stay focus...
  • #292,903
  • Nov 19, 2011 10:21am Nov 19, 2011 10:21am
Quoting bbmac
The weekly t/f continues to range with a LH printed at 6165 that follows a L at 5270. Last week's candle bearishly engulfed the previous dragonfly-doji-esq / PB weekly candle and is bearish overall with a lower woick. 100sma on this t/f remains below it's 200sma.

The daily t/f printed a neutral candle Friday with a bullish body but long upper wick as price found resistance at the previous daily swing lo x 3 zone (previous support.) This t/f has seen 2 x LH's and LL's printed and like the weekly it's 100sma remains below it's 200. Is this the beginning...
nice chart
be patient, self-belief and discipline... stay focus...
  • #292,904
  • Nov 19, 2011 10:58am Nov 19, 2011 10:58am
Quoting A-speculator
...
 9. The top executives were given stock options, bonuses exceeding their yearly pay, cars, houses and numerous allowances including golden handshakes even when they failed.

10. Naturally all these cause all their products and services to become very costly. With this comes an increasingly higher cost of living. Wages and perks were revised every now and again. With each round of wages and perks increase, there would be increased...
My mouth shut and did not say anything.

But I take my hat off and please convey my greetings to your ex-prime minister, he had read my mind very well.
  • #292,905
  • Nov 19, 2011 12:42pm Nov 19, 2011 12:42pm
Quoting radit27
anyone know where is quiksilver is?...
Broke
  • #292,906
  • Nov 19, 2011 12:49pm Nov 19, 2011 12:49pm
Quoting PoundTrader
Broke
he might have sold da silver to quick
  • #292,907
  • Nov 19, 2011 12:53pm Nov 19, 2011 12:53pm
Quoting gsantri
I'm afraid I have to agree with that part.

Speaking of dollar means NYSE.
Even if one ignore all the fundamental situation, the charts would say it all: Trouble is brewing.

Chart I, NYSE composite index.
U.S. equities are plunging out of technical consolidation on big volume and deeply negative breadth.
a sign of overwhelming selling pressure that's likely to continue over the medium term.


.

yes but like i said to someone in another thread..technically its a bull flag with a break to the downside..can be a trigger which is wrong as its against the trend..time will tell but unless it breaks 1.56 it will go higher

time will tell..
  • #292,908
  • Nov 19, 2011 1:12pm Nov 19, 2011 1:12pm
[sarcasm]Guys I could be saying here that I'm bullish to 2.0 or bearosh to parity but it makes no difference any more. There will be no £ before long so why don't we just end this thread now?? [/sarcasm]

Does Germany honestly believe Britain Will drop the pound as its suggested in this article here http://www.telegraph.co.uk/news/worl...-minister.html

Come on, if we didn't join in 1999, we Aren't going to join in the foreseable near term, especially with all these problems in the PIIGS.

This is ridiculous, as a british citizen I can firmly say that we won't allow the government to join the eurozone nations.

But anyway, I do see a possible bounce this week in GBP/USD after USDX had a topping formation with a doji and overbought.

could see 1 final retest of 1.6. This all depends on risk flows and how the S&P trades this week.
  • #292,909
  • Edited 2:52pm Nov 19, 2011 1:39pm | Edited 2:52pm
Very nice annalists (nice charts bbmac and gsantri) Lady's and Gents...
I have simple view today with some bias to the down side in the longer term( mid week)..

GL! And good weekend to all!
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  • #292,910
  • Nov 19, 2011 1:46pm Nov 19, 2011 1:46pm
down we go till 1.5700 area
  • #292,911
  • Nov 19, 2011 7:15pm Nov 19, 2011 7:15pm
back again to lime box and .................. ?

time will tell
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not euphoria follower
  • #292,912
  • Nov 19, 2011 8:16pm Nov 19, 2011 8:16pm
Hey Flatfish the combination of the euro and cable in one chart is interesting. How did you do that?
Each crossing and divergence could trigger a EURGBP trade.



Quoting Flatfish
4 hr can see cable and euro dancing so closely that my fib zig zag has popped up with a similar trade to my cable trade ( and I would be truly amazed if euro hit the targets). But then again my algo is much better at doing the maths than me and maybe it know what the other algos are up to.
  • #292,913
  • Nov 20, 2011 1:40am Nov 20, 2011 1:40am
Good day to you,

Will not be able to focus on trading for the next 2 to 3 days. Other engagements. But wanted to post my view for the next week. I believe we will see another little move up from the current levels to possibly test levels just over 1.58xx -maybe mid 1.58xx.

From there, I could see GU dropping with a stong push lower to clear stops sitting at last week's lows and to get fresh shorts onboard ( from traders waiting for that low support to break down before joining)

That would become an area of strong interest for me to find a long entry again.

Just my view.

Trade well

Regards
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  • #292,914
  • Nov 20, 2011 2:27am Nov 20, 2011 2:27am
I can't help but feel we will see 1.5190 next stop. We may climb a little higher before the drop but we have just retested the 4 hr 200 and 55ema, Daily 55ema with the weekly and monthly emas above us.
Gold and silver rolling over and dollar index forming bullish head n shoulders.
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Come with me if you want to live....
  • #292,915
  • Nov 20, 2011 2:29am Nov 20, 2011 2:29am
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cable daily and hourly, still a mess, nothing clear yet


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dx intraday PA


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S&P demand consumption complete to visit lower as it appears


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....... and gold, intraday buys if PA suggests it
  • #292,916
  • Nov 20, 2011 3:19am Nov 20, 2011 3:19am
Quoting redsword11
Attachment

Attachment

cable daily and hourly, still a mess, nothing clear yet


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dx intraday PA


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S&P demand consumption complete to visit lower as it appears


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....... and gold, intraday buys if PA suggests it
looks like a bear flag to me. A bit messy as there is room for another rise to the 4 hr trendline. If it doesnt happened, I am definately selling the break of the flag as everytime frame (from the Monthly to the 30min) 55 and 200 ema's are a roof over its head. Combine this with what is going on in Europe and I only see downside. There is also some recent chatter of a new USD bull market developing as European bond markets implode.
Come with me if you want to live....
  • #292,917
  • Nov 20, 2011 3:29am Nov 20, 2011 3:29am
Quoting Ill-b-back
looks like a bear flag to me. A bit messy as there is room for another rise to the 4 hr trendline. If it doesnt happened, I am definately selling the break of the flag as everytime frame (from the Monthly to the 30min) 55 and 200 ema's are a roof over its head. Combine this with what is going on in Europe and I only see downside. There is also some recent chatter of a new USD bull market developing as European bond markets implode.


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state of play on close, possible 30min H&S. Depending how it opens all this can be invalidated, just need to wait and see
  • #292,918
  • Nov 20, 2011 3:39am Nov 20, 2011 3:39am
Quoting redsword11
Attachment


state of play on close, possible 30min H&S. Depending how it opens all this can be invalidated, just need to wait and see
Yep, I agree, looks good. If that neckline breaks, we are looking at a significant drop of upto 1000 pips or so to possibly 48ish eventually IMO. Everything technically and fundamentally tells me to sell on validation.
Come with me if you want to live....
  • #292,919
  • Nov 20, 2011 4:02am Nov 20, 2011 4:02am
I also recently saw that Oanda have emailed their clients recommending they stay on the sidelines for the moment while Europe sorts itself out. This is complete BS if you ask me. I think they know it is going to drop like a boulder.
Come with me if you want to live....
  • #292,920
  • Nov 20, 2011 4:39am Nov 20, 2011 4:39am
I really think we are heading lower and much lower with these hidden bearish divergences.
Attached Image(s) (click to enlarge)
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Come with me if you want to live....
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