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Cable Update (GBPUSD)

  • #298,821
  • Jan 21, 2012 5:00am Jan 21, 2012 5:00am
Hi Tau,

Read your take, and present mine. Hope the BBQ is fine down on the Cape.
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Author of: For Pip's Sake! (Available at Amazon... :-) )
  • #298,822
  • Jan 21, 2012 5:40am Jan 21, 2012 5:40am
I like, in particular, the daily chart, which shows a steady trend north, and now has experienced a retrace back onto the ascending aqua MA of the Guppy profile/23.6 FE level.

I still maintain that we will see Dollar strength, and so will be interested to see if the upward trend continues next week, and thus forces Cable back down after its surge last week to the levels mentioned in my previous post concerning Cable.
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Author of: For Pip's Sake! (Available at Amazon... :-) )
  • #298,823
  • Jan 21, 2012 5:42am Jan 21, 2012 5:42am
HAPPY CHINESE NEW YEAR TO ALL CHINESE TRADERS!!!
I trade to live
  • #298,824
  • Jan 21, 2012 8:13am Jan 21, 2012 8:13am
Quoting belekas
+80 pips and sl to b/e. Now lets see if Cable can fill its weekly range to the upside before the week ends. Trade safe and stay out if you don't know what your doing. Cheers.
And it did exactly what it had to do and ended the week with 95% AWR. My trade hit TP as expected for +220 pips

I'm out. Enjoy the weekend everyone. Cheers!
Attached Image (click to enlarge)
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  • #298,825
  • Jan 21, 2012 10:09am Jan 21, 2012 10:09am
Quoting belekas
And it did exactly what it had to do and ended the week with 95% AWR. My trade hit TP as expected for +220 pips

I'm out. Enjoy the weekend everyone. Cheers!
great trade B
  • #298,826
  • Jan 21, 2012 10:48am Jan 21, 2012 10:48am
its bit early to say waht will happen!
for the moment im looking at nearest areas since is very possible to see some ranging 1.5480-1.5640
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  • #298,827
  • Jan 21, 2012 1:20pm Jan 21, 2012 1:20pm
MY "LONGTERM " VIEW for this pair..since it had its "DOUBLE BOTTOM" already!!
Attached Image (click to enlarge)
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Bismillah
  • #298,828
  • Edited 3:09pm Jan 21, 2012 2:44pm | Edited 3:09pm
Quoting krunfx
MY "LONGTERM " VIEW for this pair..since it had its "DOUBLE BOTTOM" already!!
Do you mean break the upper or lower blue TL to test 50fibo? I am fairly sure we have tested the 50fibo to the downside and we have had a very strong reaction from that point. The way this thing is slicing through the fibs, i would not at all be surprised to see us reach the upper 50 fibo before any significant downside movement (but I still have a long running from last week so I am biased). Thx for your analysis
Come with me if you want to live....
  • #298,829
  • Jan 21, 2012 3:39pm Jan 21, 2012 3:39pm
Hmmm, once again we see some rediculous market logic at an important currency tyrning point. Now some Euro bond markets have become somehow "attractive" after the GU reaches the "50 downside fibo" hmmmm. Someone made the comment earlier that the currency markets react to the trading of other markets. I have seen very strange things occur in other markets time and time again at important GU turning points. Personally, I am convinced trading of other markets is determined by currency market positions/points, particularly in the GU pair as this is the most traded pair and follows fibs and TL so accurately. Just my observation/obsession
Come with me if you want to live....
  • #298,830
  • Jan 21, 2012 4:40pm Jan 21, 2012 4:40pm
Just as a follow up to my unhealthy obsession, I will be looking out for some important Euro news at the 50 fibo retrace from the monthly swing high as I feel this could be the final frontier for the bears and the start of something wonderful for the bulls. Watching to see if China will throw some money at Europe to spur the markets to new heights. Last weeks china numbers maybe all the excuse needed to delay Europes demise.
Come with me if you want to live....
  • #298,831
  • Jan 21, 2012 4:45pm Jan 21, 2012 4:45pm
Greek debt deal snags on interest rate
not euphoria follower
  • #298,832
  • Jan 21, 2012 4:52pm Jan 21, 2012 4:52pm
Quoting iqyu5an
Greek debt deal snags on interest rate
Huh, anymore detail?
Come with me if you want to live....
  • #298,833
  • Jan 21, 2012 4:59pm Jan 21, 2012 4:59pm
Quoting Ill-b-back
Huh, anymore detail?
here is : market watch
not euphoria follower
  • #298,834
  • Jan 21, 2012 5:06pm Jan 21, 2012 5:06pm
Quoting iqyu5an
here is : market watch
Yes thx just googled it after my lazy inquiry. More news Monday it seems. I have always questioned the logic of charging riskier asset sellers a higher interest rate to compensate for the risk of default since charging a higher interest rate only increases the likely hood of default. Anyway, back to church
Come with me if you want to live....
  • #298,835
  • Jan 21, 2012 6:59pm Jan 21, 2012 6:59pm
Quoting Ill-b-back
Do you mean break the upper or lower blue TL to test 50fibo? I am fairly sure we have tested the 50fibo to the downside and we have had a very strong reaction from that point. The way this thing is slicing through the fibs, i would not at all be surprised to see us reach the upper 50 fibo before any significant downside movement (but I still have a long running from last week so I am biased). Thx for your analysis
just need to break 61.8 ++ my blue line...we can say taht soon 1.6 will come to test
Bismillah
  • #298,836
  • Jan 21, 2012 7:55pm Jan 21, 2012 7:55pm
Quoting krunfx
just need to break 61.8 ++ my blue line...we can say taht soon 1.6 will come to test
Yep cool
My Internet is down so can't post a chart, but we have decisively broken thru and retested the 4hr 100sma which is in confluence with the 23.6 retrace from the 6165 high and broken thru the 4hr TL. The daily 100sma is stuck to the next TL like a twin bro and is in confluence with the 50 retrace. The 1hr 100 SMA is strongly bullish and PA showing no interest in stopping at the 38.2 retrace (and between 2 TL's) for very long. My plan is to hold my long until the 50 retrace at 57, see if we break through and retest the daily 100sma at this level before shooting for 58
Just noticed the weekly 100sma is also hovering around 57 so all things point to a good exit point for longs before looking to load up again should we get the breakthrough and retest.
Come with me if you want to live....
  • #298,837
  • Jan 21, 2012 8:02pm Jan 21, 2012 8:02pm
Quoting Ill-b-back
Yep cool
My Internet is down so can't post a chart, but we have decisively broken thru and retested the 4hr 100sma which is in confluence with the 23.6 retrace from the 6165 high and broken thru the 4hr TL. The daily 100sma is stuck to the next TL like a twin bro and is in confluence with the 50 retrace. The 1hr 100 SMA is strongly bullish and PA showing no interest in stopping at the 38.2 retrace (and between 2 TL's) for very long. My plan is to hold my long until the 50 retrace at 57, see if we break through and retest the daily 100sma...

hold long is ok.l..but
1.MPC MEETING
2.PREM GDP
3.FED RATE
4. EURO ZONE CRISIS (now maybeb concern about portugal)

NEED TO WATCH VERY CLOSELY
Bismillah
  • #298,838
  • Jan 21, 2012 8:10pm Jan 21, 2012 8:10pm
Quoting krunfx
hold long is ok.l..but
1.MPC MEETING
2.PREM GDP
3.FED RATE
4. EURO ZONE CRISIS (now maybeb concern about portugal)

NEED TO WATCH VERY CLOSELY
Yes, personally I think 57 will be a turning point according to my TL. Some will say this is too early but that weekly 100sma I think will be a great launching pad for a big bull run
Come with me if you want to live....
  • #298,839
  • Jan 21, 2012 8:20pm Jan 21, 2012 8:20pm
Quoting Ill-b-back
Yes, personally I think 57 will be a turning point according to my TL. Some will say this is too early but that weekly 100sma I think will be a great launching pad for a big bull run

hehe...ok

Bismillah
  • #298,840
  • Jan 21, 2012 9:11pm Jan 21, 2012 9:11pm
Quoting krunfx
hehe...ok

I must tell you I have come to realise that I actually am a bit of a conspiracy theorist despite my best attempts to deny it to myself on the past. The GU market is rigged, foretold in the past to rob the speculators and feed the rich. I think fundies are a distraction from the charts own story. But I am also a little bored at work right now so my imagination maybe playing tricks on me also
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