Cable Update (GBPUSD)

G/M,

Very bearish daily candle yesterday, the lo of the day found at the previous 4hr/1hr swing hi/lo zone from where it has pulled back. Immediately below current price as below:

[ 5480-75 ascending 4hr/1hr trennd line on this 1hr candle.
[ 5479-73 prev 1hr sw lo zone
[ 5474-66 prev 4hr/1hr sw hi (4hr to 5457) /lo zone
5434 76.4% 5360-5669
5431-26 prev 1hr sw hi x 2 incl 5431=Daily S1 @/around
5413-5404 prev 1hr sw lo zone incl 5406 = 85.4% 5360-5669
[ 5399-85-68-60 prev Dly/4hr/1hr sw lo zone
[ 5379-66 prev 1hr sw lo zone incl 5374 Weekly S1 @/around incl 5368 = Daily S2 @/around
[ 5375-65 ascending Daily trend line on this daily candle
5347 Monthly S1 @/around
5334-5314- 5270 prev Weekly/Daily/4hr sw lo zone incl 5269 = Daily S3 @/around(* 5420-5270 co-existing prev weekly sw lo zone)
5203 Weekly S2 @/around
5189 61.8% 4225-6746
5148 Monthly S2 @/around
5045 Weekly S3 @/around
5140-20 ascending Monthly/Weekly trend line on this weekly candle
5015-4947 prev Weekly sw lo zone

Immediately above current price per near-term current 1hr screenshot below. 5530/32 is DP and WP @/around, 5593 Daiily R1 @/around.

U.s data later (Nfp etc...) If anything near to the ADP forecast on Weds (+352k) we could see some fireworks ? Risk On ? !!

G/L

Is the 4hr building for an H&S pattern ?

G/L

yeah nfp possible movements to try best limit the fall below 5300.
plotting pa for it , same .Initial range 5579-5375 and next 5375-5579 and 3rd 5579-5300.nothing great for the day.

Gold still fine & range there expecting with hold top to range 1560.26 stop so as to pose trend change next week & market close in the confusion in every pair.
still long time to go , rest is best now as already in home & market has no bone to even settle at highs as can expect before .
so all plays during nfp .
fontu

next downside target is 1.5427

Analysis pretty much unchanged from my earlier post as market sees a 49pip range consolidation so far today and ahead of U.s Nfp etc release - 39% of 20 day atr.

Oanda comment re NFP: http://forexblog.oanda.com/20120106/...side-nfp-risk/

Unusually quiet in this thread today compared with recent times, ? may get a little busier as NFP hits ?

G/L

Near-term current 4hr is here just prior to U.s NFP release

G/L

good morning everyone
i just woke up 1hour ago!
lol

did i miss something?
yes, the short near 5520.

oh well,
lets see NFP moves comming.

good luck

5470 stops triggered.
imo we go down

Lol flakes, been telling everyone on wednesday to hold shorts on GU target 1.5410
yea baby... the target is still valid, fueled by a strong positive NFP, and lowered unemployment, we in some deep risk-off sentiment on stronger Dollar...
good luck fellas
i will watch how 1.5410 reacts to see if its gona fall to 5200

Yea baby... lets ride this f**ker down... been eyeing 1.5410 all week from 1.56

We are clear of 1.5455, 5410 is the next bearish fib target

Knee-jerk move down in immediate aftermath of U.s NFP release...+200k headline # and -0.2% off un-emp rate to 8.5%

To the immediate downside:

5434 76.4% 5360-5669
5431-24 prev 1hr sw hi x 2 incl 5431=Daily S1 @/around
5413-5404 prev 1hr sw lo zone incl 5406 = 85.4% 5360-5669
[ 5399-85-68-60 prev Dly/4hr/1hr sw lo zone
[ 5379-66 prev 1hr sw lo zone incl 5374 Weekly S1 @/around incl 5368 = Daily S2 @/around
[ 5375-65 ascending Daily trend line on this daily candle
5347 Monthly S1 @/around
5334-5314- 5270 prev Weekly/Daily/4hr sw lo zone incl 5269 = Daily S3 @/around(* 5420-5270 co-existing prev weekly sw lo zone)
5203 Weekly S2 @/around
5189 61.8% 4225-6746
5148 Monthly S2 @/around
5045 Weekly S3 @/around
5140-20 ascending Monthly/Weekly trend line on this weekly candle
5015-4947 prev Weekly sw lo zone

To the immediate upside per 1hr near-term current screenshot below.

G/L

News are good , eu , gu reacted as well ok tp1 both hit & continue for tp2 also , au & gold trying defend still but how long ? may be this week but next also there . expecting they join 2nd bout now .
so go with regular pa , limit up 5474 gu & 2778 eu before 2nd bout then .so around good short entries who cares .
gold continues turmoil , crazy shit ! crush next & heavy !!

fontu

cable might hunt for 1.5525 stops before heading down

My view (FWIW) is 1.5400 then 1.5366 then 1.5332.

No reason for price going to 1.5525 so far as I can see, but....................

i doubt it.... US market is very much active and after that news... i suspect the bears have moved to put limit sells at 1.5450 instead thats where we broke below this fib line, and normally the level where shorters are keen on shorting on a pullback, MACD is also strongly directed downwards RSI about to look topped out in H1 chart

my analysis telling me once 5450 hits GU continues to fall on strong dollar news...

looking back at the charts M5 stopped/topped out at 5452 closed at 5450 and rejected... theres where the shorts are coming in folks, goodluck to all
still waiting my first tp to hit at 5410 yawn...

However, you might be right... 5525 is possible strictly on week ending profit taking action but its highly unlikely... it would suggest that whatever US data came out this week is completely ignored leading to a Weekly candle closing as a DOJI.... i just dont see it fundamentally sorry...

5406 for my first tp (from 1.5506)

My look for bounce at 5365 back to 54 else I shall wait until around 533 before any kind of long

Target 1: 1.5411 Target 2: 1.5377

Very sound analysis, 5365 bounce is highly likely getting back up to 5400 is a good target, but risk: ratio wise i prefer to short at 5400 AFTER the bounce, that trade pays more than risking on longing at 5365, i hope thats what you mean...
but that it depends on the risk sentiment... but yea i agree if GU continues to fall ill be looking for a pullback from 5365 to 5400 to short at 5400 towards 5210

Target 1 Touched, Next Target 1.5377

WTF!!!

what do we post chart for??
talking about a stop hunt above 1550 now only confuses and scare people!!

its a good advice, ok! but FOR NEXT WEEK!
this thing is crashing to 53 area in no time.

also UAD near to clear the 0200!!!!!!

EU clearing 1.27 while writing 1.2710.

who is shorting already cashed out positions and stops deep green.
no buy setup until short setup is ended.

thank you for listening.
nothing personal with nobody