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Cable Update (GBPUSD)

  • #299,761
  • Feb 2, 2012 3:48pm Feb 2, 2012 3:48pm
Quoting Ill-b-back
I will try very hard not to trade until we either reach 5990-60 or if we get a very decent dip so I can pick up a bargain.
same here except im waiting for 5660-80,as there arent any economical changes for the last two months.That aside 1.60 is possible with the spiking of the news.
  • #299,762
  • Feb 2, 2012 3:57pm Feb 2, 2012 3:57pm
Trade what you see.....not what you think.

If it breaks 1.58 here.....we go down for a while.
Attached Image (click to enlarge)
Click to Enlarge Name: Chart of GLOBEX~@6BH2 - Pullback.jpg Size: 141 KB
I don't trust any move - when you have profit...take it.
  • #299,763
  • Feb 2, 2012 3:59pm Feb 2, 2012 3:59pm
View on euro...nfp data need to watch very closely
Attached Image (click to enlarge)
Click to Enlarge Name: euro34.JPG Size: 84 KB
Bismillah
  • #299,764
  • Feb 2, 2012 4:00pm Feb 2, 2012 4:00pm
Quoting Rasi
What do you call a "very decent dip"?

Thanks.
Just back to the 100 SMA will do for me, trading doesn't have to be complicated

Attached Image (click to enlarge)
Click to Enlarge Name: 0009.jpg Size: 99 KB
It takes a lot for me to IGNORE you, but you can try.
  • #299,765
  • Feb 2, 2012 4:05pm Feb 2, 2012 4:05pm
Quoting Rasi
What do you call a "very decent dip"?

Thanks.
Hard to tell exactly, but I think I am still waiting for a retest
of my broken bearish TL's. Not at charts sorry but I agree with above mentioned number, around 5660-80 sounds right from memory. We have broken some stubborn resistance fairly quickly so we are in a tricky place, but definitely still a bull if we retrace.
Come with me if you want to live....
  • #299,766
  • Feb 2, 2012 4:07pm Feb 2, 2012 4:07pm
Quoting Erebus
Just back to the 100 SMA will do for me, trading doesn't have to be complicated

I like ema's also. Can't see chart on phone properly. Can I ask approx price on ema? Thx
Come with me if you want to live....
  • #299,767
  • Feb 2, 2012 4:10pm Feb 2, 2012 4:10pm
Quoting Erebus
Just back to the 100 SMA will do for me, trading doesn't have to be complicated


what is that legend in the upper right corner of your chart with the red and green little tab lights?
I don't trust any move - when you have profit...take it.
  • #299,768
  • Feb 2, 2012 4:13pm Feb 2, 2012 4:13pm
Quoting Erebus
Just back to the 100 SMA will do for me, trading doesn't have to be complicated

Thank you for sharing your thoughts .

I am also planning to go long between 5700 - 5770, PA permitting as shown in my analysis above. However, as you know Friday and NFP trading can be chaotic. I tend to stay clear but always like to have a plan.

KR
  • #299,769
  • Feb 2, 2012 4:16pm Feb 2, 2012 4:16pm
Short the hell outta the sum bitch.......we have been going straight up for weeks now......and the Brits just said today that they are going to throw more QE at their problem!!! Mooooo money in the system......NFP comes out and disappoints.....and u have the Brits saying that they are screwed and need to throw mooo money at the problem.....where do you think people will run and hide?????? USD of course.


BoE's Posen says is leaning towards more QE if we don't change forecast

BoE

Source: RTRS
I don't trust any move - when you have profit...take it.
  • #299,770
  • Feb 2, 2012 4:19pm Feb 2, 2012 4:19pm
BoE's Posen says there is a case for another GBP 75bln in stimulus

BoE

Source: Sources
I don't trust any move - when you have profit...take it.
  • #299,771
  • Feb 2, 2012 4:20pm Feb 2, 2012 4:20pm
Do the math.....if Posen says they are up shit creek...........why the hell would they want a strong currency?
I don't trust any move - when you have profit...take it.
  • #299,772
  • Feb 2, 2012 4:22pm Feb 2, 2012 4:22pm
Quoting Faller
Short the hell outta the sum bitch.......we have been going straight up for weeks now......and the Brits just said today that they are going to throw more QE at their problem!!! Mooooo money in the system......NFP comes out and disappoints.....and u have the Brits saying that they are screwed and need to throw mooo money at the problem.....where do you think people will run and hide?????? USD of course.


BoE's Posen says is leaning towards more QE if we don't change forecast

BoE

Source: RTRS
The problem is.. US is planning more QE as well. And the ECB is not permitted to do QE by law...

The silver lining for GB is that it can do QE if need be. A weaker currency will also help with the exports - just look at how Germany is doing with a cheap Euro (it has the lowest unemployment rate in the last 20 years).
  • #299,773
  • Feb 2, 2012 4:25pm Feb 2, 2012 4:25pm
Quoting Rasi
The problem is.. US is planning more QE as well. And the ECB is not permitted to do QE by law...

The silver lining for GB is that it can do QE if need be.

US says they are going to do QE.....but their numbers are actually the best out of any other country right now....they are just trying to keep their dollar down.......Brits are screwed........

But like you said....it is a balancing act......we will see which way it goes.....like I said....I don't predict....I trade what I see in the charts.
I don't trust any move - when you have profit...take it.
  • #299,774
  • Feb 2, 2012 4:25pm Feb 2, 2012 4:25pm
Quoting Ill-b-back
I like ema's also. Can't see chart on phone properly. Can I ask approx price on ema? Thx
As of this candle, it is 1.57660 but that can change slightly from 1 H candle to the next

@ Faller, that is an Indicator of Moving Averages 20, 50, 100, 200 over 5 time frames, pretty isn't it?

It takes a lot for me to IGNORE you, but you can try.
  • #299,775
  • Feb 2, 2012 4:27pm Feb 2, 2012 4:27pm
Also heard today that there are major sell stops just below the 1.58 level.....came from my news feed....we never really got down their today......lets see if those stops are still sitting there after hours......would someone throw a billion at it on the short side and see what happens!
I don't trust any move - when you have profit...take it.
  • #299,776
  • Feb 2, 2012 4:28pm Feb 2, 2012 4:28pm
Quoting Erebus
As of this candle, it is 1.57660 but that can change slightly from 1 H candle to the next

@ Faller, that is an Indicator of Moving Averages 20, 50, 100, 200 over 5 time frames, pretty isn't it?


I like it ....how do you interpret it?
I don't trust any move - when you have profit...take it.
  • #299,777
  • Feb 2, 2012 4:31pm Feb 2, 2012 4:31pm
Im new on this board and would like to say hello to all first.

I usually frequent EUR board but this insight applys here too so I wanted to share.

The combined Daily Extreme High/Lows for GBP and EUR are listed below for the last several days

For anyone trading this pair I would say it looks like GBP is moving up from here along with the EUR.

Charts confirm this too.

Other pairs suggest similar scenario.

As always, just a prognostication and pleased to see others views.

2.825292.80591
2.831622.81865
2.827912.79697
2.820992.79752
2.828422.7859
2.80372.7899
2.820862.79561
2.830782.8059
2.846242.8253
2.856192.83379
2.86532.83894
2.86872.84835
2.879632.84639
2.891572.87362
2.897192.87166
2.8962.87282
2.900782.87381
2.909792.87301
2.905282.88798
  • #299,778
  • Feb 2, 2012 4:44pm Feb 2, 2012 4:44pm
Another thing.......if Japan intervenes - they will be buying lots of USD to counter the strong yen.......when that happens.....all crosses get hit hard.
I don't trust any move - when you have profit...take it.
  • #299,779
  • Feb 2, 2012 4:45pm Feb 2, 2012 4:45pm
Quoting Faller
I like it ....how do you interpret it?
Can't look at the code but I believe is is simply if price is above the EMA, then it is GREEN, if it is under, it is RED
It takes a lot for me to IGNORE you, but you can try.
  • #299,780
  • Feb 2, 2012 4:47pm Feb 2, 2012 4:47pm
watch the yen.....it is starting to ji-rate.
I don't trust any move - when you have profit...take it.
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