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Cable Update (GBPUSD)

  • #296,981
  • Jan 6, 2012 4:03pm Jan 6, 2012 4:03pm
............
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  • #296,982
  • Jan 6, 2012 4:04pm Jan 6, 2012 4:04pm
Quoting nAVIN2007
I believe cable is in a long term uptrend
I've heard it all now!
  • #296,983
  • Jan 6, 2012 4:07pm Jan 6, 2012 4:07pm
Quoting nAVIN2007
I believe cable is in a long term uptrend it has to break below 1.5 to make me think otherwise ..its a 50% retrace swing retest of breakout point on monthly chart..i will send u a link to my long term charts so u can see more details

look at the 16 month chart i send u
Long Term Bullish yes and Target 1.73
But from where we going to Long That is the question
For now it's Down ,No Rush , Kiss
  • #296,984
  • Jan 6, 2012 4:09pm Jan 6, 2012 4:09pm
Quoting Ill-b-back
Ok I see your picture. How do I send you a PM with a screenshot attached like in the normal forum?

no idea can use :-http://s648.photobucket.com or something
  • #296,985
  • Jan 6, 2012 4:15pm Jan 6, 2012 4:15pm
This is what I see to be honest. It seems to fit better with the fundamentals also IMO
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Come with me if you want to live....
  • #296,986
  • Jan 6, 2012 4:18pm Jan 6, 2012 4:18pm
Here is a weekly chart of Cable stretching back 11 months. It seems odd that you say the trend is up??
Also the economic entanglement between the UK and Europe cannot bode well for GBP.
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  • #296,987
  • Jan 6, 2012 4:54pm Jan 6, 2012 4:54pm
The Pound is a Safe Haven....however today it was guilty by association to the Euro......Gilts are being bought at an all time high....and as people by gilts the Pound will get bid up.....


Here is my chart....very self explanatory....all my notes are on the chart.

This is the way I see it.....time will tell which way it wants to go - it appears to me that it is setup to move up....but a break of 1.5350 to the downside will bring a further move down. Support must hold......which I believe it will as we are sitting on a year long support line.

Comments welcome.....cheers to all!

Faller.
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I don't trust any move - when you have profit...take it.
  • #296,988
  • Jan 6, 2012 5:30pm Jan 6, 2012 5:30pm
Quoting Ted1983
Here is a weekly chart of Cable stretching back 11 months. It seems odd that you say the trend is up??
Also the economic entanglement between the UK and Europe cannot bode well for GBP.
Anyone calling this bullish has definitely something loose in his brains and urgently needs to see a doctor.
New voice message: Why are you calling me? If I need you, I'll call you!
  • #296,989
  • Jan 6, 2012 5:32pm Jan 6, 2012 5:32pm
hello. pound is neither bullish nor bearish. because it has a safe haven with gilts, it gets good flow from bearish EU. also it is correlated to the dow jones so benefits from risk appetite which is higher lately. on the negative, it is technically in the eurozone(but not the Euro) so gets affected by bad european economy. its own economy UK is doing poorly. USA economy whilst appearing good numbers, most of the numbers look false, and its economy by and large is weak.
  • #296,990
  • Jan 6, 2012 5:48pm Jan 6, 2012 5:48pm
Personally, it looks like the mother of all monthly bear flags (blue lines on my monthly chart above a few posts). It simply seems to me that indecision about how to approach the euro crisis is preventing lower weekly lows. What I have been watching and have posted on before, is that we are forming bearish TL's within bearish TL's and this is not good for bulls. I don't have faith in the possible bullish TL since we have a consecutive double touch on the support line without touch the resistive TL. This has always told me that it will break. The monthly mini trend finder I use to good effect has turned down for only the second time since the GFC, and much earlier on the bearish move than the first time and sharper also. Gilts or no gilts, the USD is the reserve currency and it seems to me there is a greater chance of a second crash than a recovery. This will send the dollar north just like in the GFC regardless of other currency sentiments.
Come with me if you want to live....
  • #296,991
  • Jan 6, 2012 6:53pm Jan 6, 2012 6:53pm
Quoting Halba
hello. pound is neither bullish nor bearish. because it has a safe haven with gilts, it gets good flow from bearish EU. also it is correlated to the dow jones so benefits from risk appetite which is higher lately. on the negative, it is technically in the eurozone(but not the Euro) so gets affected by bad european economy. its own economy UK is doing poorly. USA economy whilst appearing good numbers, most of the numbers look false, and its economy by and large is weak.
Hi dude, sorry misread your take on gilts and outlook for GBP. Please disregard my reference to gilts in my previous post
Come with me if you want to live....
  • #296,992
  • Jan 6, 2012 7:01pm Jan 6, 2012 7:01pm
Quoting Faller
The Pound is a Safe Haven....however today it was guilty by association to the Euro......Gilts are being bought at an all time high....and as people by gilts the Pound will get bid up.....


Here is my chart....very self explanatory....all my notes are on the chart.

This is the way I see it.....time will tell which way it wants to go - it appears to me that it is setup to move up....but a break of 1.5350 to the downside will bring a further move down. Support must hold......which I believe it will as we are sitting on a year long support line....

this is one of best charts we could see!
it's very clear, and explain exactly what is going on in price in recent sessions.
thank you for posting!

interesting to notice action of price into downtrend channel!
looks like going to bounce out soon.

i wrongly expected it to do before year ending!
lets see if it will in next weeks!
could be a strong release for bulls!
90% of traders use TA, indicators and prediction
  • #296,993
  • Jan 6, 2012 7:02pm Jan 6, 2012 7:02pm
Although the us economy isn the strongest one in the market right now. It had a greater than expected NFP release and the usd has been bullish for the past month. With a good NFP release as well as unemployment numbers being down
I see gbpusd heading south with the dollar gaining more strength. Atleast throughout January since the monthly candle on the index is still bullish so I am still short Gbp pairs until we see a monthly support level
  • #296,994
  • Jan 6, 2012 7:07pm Jan 6, 2012 7:07pm
Quoting KillerWhale
Anyone calling this bullish has definitely something loose in his brains and urgently needs to see a doctor.
The gentleman you are referring to is looking at longer term monthly chart where there is a potential bullish TL. I am quite convinced we won't know either way for weeks yet.
Come with me if you want to live....
  • #296,995
  • Jan 6, 2012 7:22pm Jan 6, 2012 7:22pm
Quoting Ted1983
Here is a weekly chart of Cable stretching back 11 months. It seems odd that you say the trend is up??
Also the economic entanglement between the UK and Europe cannot bode well for GBP.

yes true,
it is not an uptrend, possible better search for shorts than for longs.
i also posted in previous page that imo weekly looks bearish.
matter is just on this 1.54 - 1.53 level.
until it goes clearly broken, this is a strong deman area.

if you zoom out you see that price went clearly below here in 2008 and in 2010, then immediatly recovered.

now, matter is about actual european situation.
imo this week we priced in rumors of france downgrade, together with all that came out from europe.
are things gettin worse next weeks?

lets see!
90% of traders use TA, indicators and prediction
  • #296,996
  • Jan 6, 2012 7:23pm Jan 6, 2012 7:23pm
Oops.. Well I'm long term as well but not that long! Haha

That was just my 2cents. Happy pipping!
  • #296,997
  • Jan 6, 2012 7:36pm Jan 6, 2012 7:36pm
Quoting _BBKing_
this is one of best charts we could see!
it's very clear, and explain exactly what is going on in price in recent sessions.
thank you for posting!

interesting to notice action of price into downtrend channel!
looks like going to bounce out soon.

i wrongly expected it to do before year ending!
lets see if it will in next weeks!
could be a strong release for bulls!

Thank you for your comments....
I don't trust any move - when you have profit...take it.
  • #296,998
  • Jan 6, 2012 7:44pm Jan 6, 2012 7:44pm
Quoting Dyekid217
Although the us economy isn the strongest one in the market right now. It had a greater than expected NFP release and the usd has been bullish for the past month. With a good NFP release as well as unemployment numbers being down
I see gbpusd heading south with the dollar gaining more strength. Atleast throughout January since the monthly candle on the index is still bullish so I am still short Gbp pairs until we see a monthly support level
Why should USD gain strength due to good numbers? If I am correct, strong USD reflects risk off not risk on. Has something changed since the GFC? I don't trust news numbers at all, but do watch them as I find them humorous from time to time.
Come with me if you want to live....
  • #296,999
  • Jan 6, 2012 7:54pm Jan 6, 2012 7:54pm
i would like to share this thing.
i usually do this simply looking at charts and looking price beahviour near suport and resitances.

what i mean is:
if price goes below this area now, i will be ready to search possible reversal patterns.
because a reversal here would mean definetly to go for next level.
it happens in every timeframe.
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90% of traders use TA, indicators and prediction
  • #297,000
  • Jan 6, 2012 7:55pm Jan 6, 2012 7:55pm
let 2011 year candle talk ....

and we're watching it with cup of coffee in the weekend

no matter bull or bear ... just take it

how strong monthly candle ( march 2010 ) will handle this ......... ?
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