Cable Update (GBPUSD) | Page 15074 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

GBP/USD

Similar Threads

Cable Update - Continued 118 replies

Cable Update (GBP/USD) without Idiots 25 replies

cable short for gbpusd? 10 replies

Why is GBPUSD called cable? 76 replies

Cable (GBPUSD) vs Euro (EURUSD) 31 replies

Attachments: Cable Update (GBPUSD)
Exit Attachments

Cable Update (GBPUSD)

  • #301,461
  • Feb 25, 2012 7:33am Feb 25, 2012 7:33am
Quoting smikester
1.6 is an interesting possibility. But I don't have a bearish engulfing on my weekly? Also I don't hold with this novice retailers victim theory. I sometimes see what looks to me like stop hunting but I always think if I'm not properly positioned I deserve it. That's the positive view.
Maybe this is a little clearer -

Attached Image (click to enlarge)
Click to Enlarge Name: zoom-in-b.gif Size: 117 KB


Thanks gsantri
  • #301,462
  • Feb 25, 2012 7:34am Feb 25, 2012 7:34am
Quoting nAVIN2007
brian remember this chart? she is forming wonderfully
Of course I do mate... always in the back of my mind!

Bottom is forming nicely!
  • #301,463
  • Edited 7:54am Feb 25, 2012 7:37am | Edited 7:54am
Quoting smikester
1.6 is an interesting possibility. But I don't have a bearish engulfing on my weekly? Also I don't hold with this novice retailers victim theory. I sometimes see what looks to me like stop hunting but I always think if I'm not properly positioned I deserve it. That's the positive view.
Also, I am not refering to stop hunting... but I refer to trapping and those are two very different things! You know... I could be completely Pete Tong. I don't have a crystal ball and anything can happen. I will see how it develops... I have already scaled out of my long and it was a really nice trade that I posted BEFORE it happened on the PIE thread.

Anyway, I have many things to do... so long for now.
  • #301,464
  • Feb 25, 2012 7:55am Feb 25, 2012 7:55am
Quoting bbakker
Thanks gsantri
anytime B.

that was quick btw..
  • #301,465
  • Feb 25, 2012 9:13am Feb 25, 2012 9:13am
Quoting Ill-b-back
Yeah love six nations, just wish I had foxtel. I played Prop forward so was always a bit slow.
Ok, I like a challenge, here are some charts (just jokes, just got home).
Ha ha can't do driving and charting just yet bro, but if I have a few more weeks like this last one, maybe I can afford an assistant to do it for me
Anyway, below are my daily, weekly and monthly charts showing the 55ema. We have strong rejection from the daily and closed above the weekly. Monthly will be a road block for sure but it is flattening out. It is only 1 ema among...


On your monthly chart.......that move from 1.52 at the beginning of the year to where we are now actually looks pretty pathetic compared to what you see to the left of that same monthly chart...does not look like very much conviction when you see the price action to the left........just an observation.
I don't trust any move - when you have profit...take it.
  • #301,466
  • Feb 25, 2012 9:39am Feb 25, 2012 9:39am
I would keep an eye on the news this weekend. The Iran situation is getting pretty hairy.
Nice bottom formed around 1.56. Doubtful it could break below that level next week, but it could stick in a 300 pip range next week. Barring a military strike in the Gulf though or a retractment by Bernanke on interest rates, this thing is eventually going to test the 1.65 level imo.
  • #301,467
  • Feb 25, 2012 10:58am Feb 25, 2012 10:58am
Quoting Hookem28
I would keep an eye on the news this weekend. The Iran situation is getting pretty hairy.
Nice bottom formed around 1.56. Doubtful it could break below that level next week, but it could stick in a 300 pip range next week. Barring a military strike in the Gulf though or a retractment by Bernanke on interest rates, this thing is eventually going to test the 1.65 level imo.

For some interest for you and other traders......

Sorry but my broker does not provide historical data for more then 1 year....so I am using this link http://www.xe.com/currencycharts/?fr...to=USD&view=2Y to show the performance of GBP over a 2 year time period.

Note that a left shoulder was formed during the year 2010, a head was formed during 2011, and now a right shoulder is being formed in 2012 - nice long pattern formation......

Here is a 5 year chart of the GBP - you tell me how this is in an uptrend? http://www.xe.com/currencycharts/?fr...to=USD&view=5Y

And finally here is a 10 year chart of GBP - again this is an uptrend?
http://www.xe.com/currencycharts/?fr...o=USD&view=10Y


We can never totally see into the future, we have to use our experience and the information at hand to position ourselves as the market moves price to where price needs to be.
I don't trust any move - when you have profit...take it.
  • #301,468
  • Feb 25, 2012 11:48am Feb 25, 2012 11:48am
Quoting bbakker
Wrong there my friend. I am Dutch but I have lived in the UK for 30 years now. I support whoever is winning...

England, Ireland, Italy, Wales, Scotland, France is the order in which I support them. As for you southern hemisphere guys, you come way down the list
He he, touché
Come with me if you want to live....
  • #301,469
  • Feb 25, 2012 11:50am Feb 25, 2012 11:50am
Quoting Faller
On your monthly chart.......that move from 1.52 at the beginning of the year to where we are now actually looks pretty pathetic compared to what you see to the left of that same monthly chart...does not look like very much conviction when you see the price action to the left........just an observation.
Yeah, hard to miss that, hence the mentioned roadblock
Come with me if you want to live....
  • #301,470
  • Feb 25, 2012 12:05pm Feb 25, 2012 12:05pm
Quoting UbuFamily
what u guys think about 4H fib 38.2 is the support line 5810 & bounce back for its bearish move to meet 5600 again?

not for scalping..
Attachment

this one 1H targeted fib 23.6 can scalp short for few pips i guess ;
Attachment
Hey Ubu, I just re-read this post and noticed you saw it as a bearish setup. I did respond by saying "I agree" with the retrace, but went on to say for a setup to go long. I didn't notice before that you meant it as a bearish setup. I'm sorry bro, when I posted my chart with my trades and wrote "I tell a lie", I hope you didn't think I was agreeing with your bearish setup but with intentions to go long. I only got more convinced of the bull set up after looking at the hidden 1hr bullish divergence on the 1hr for about 10mins before the trades. the tell a lie bit referred to the triangle I posted that I was waiting for price to enter. Well, it wasn't actually a lie at the time, but price action changed my mind at the last minute before the trades.
Come with me if you want to live....
  • #301,471
  • Feb 25, 2012 12:11pm Feb 25, 2012 12:11pm
ha
Quoting Faller
For some interest for you and other traders......

Sorry but my broker does not provide historical data for more then 1 year....so I am using this link http://www.xe.com/currencycharts/?fr...to=USD&view=2Y to show the performance of GBP over a 2 year time period.

Note that a left shoulder was formed during the year 2010, a head was formed during 2011, and now a right shoulder is being formed in 2012 - nice long pattern formation......

Here is a 5 year chart of the GBP - you tell me how this is in an uptrend? http://www.xe.com/currencycharts/?fr...to=USD&view=5Y

And...
All a matter of time perspective, eh? For example, I am currently short at 1.5885 anticipating a retrace.
There is a nice double bottom around 1.56 though. The last last two candles on the weekly chart are hammers. I will be waiting for a retrace to close my short, and a signal to go long.
  • #301,472
  • Feb 25, 2012 12:18pm Feb 25, 2012 12:18pm
Quoting Faller
For some interest for you and other traders......

Sorry but my broker does not provide historical data for more then 1 year....so I am using this link http://www.xe.com/currencycharts/?fr...to=USD&view=2Y to show the performance of GBP over a 2 year time period.

Note that a left shoulder was formed during the year 2010, a head was formed during 2011, and now a right shoulder is being formed in 2012 - nice long pattern formation......
What you failed to notice is the higher lows. All trends come to an end, so how do you spot the end of a trend and this is applicable to any timeframe?
  • #301,473
  • Feb 25, 2012 12:30pm Feb 25, 2012 12:30pm
Quoting Faller
For some interest for you and other traders......

Sorry but my broker does not provide historical data for more then 1 year....so I am using this link http://www.xe.com/currencycharts/?fr...to=USD&view=2Y to show the performance of GBP over a 2 year time period.

Note that a left shoulder was formed during the year 2010, a head was formed during 2011, and now a right shoulder is being formed in 2012 - nice long pattern formation......

Here is a 5 year chart of the GBP - you tell me how this is in an uptrend? http://www.xe.com/currencycharts/?fr...to=USD&view=5Y

And...

even if u look at this way..2.0 area was the head, 1.93 was the neckline..at some stage price has a habit of retesting the breakout area..1.65 is nothing..but only a formation completing a bear flag if it is that

gold is looking good..
USD trend is down..this can be seen as a pullback..sell at discount
euro is at an extreme..and now finally is showing PA on larger time frames to be bullish perhaps..

look at a one year chart of cable..u will see last year showed plenty of indecision to follow through down..infact when it was a 1.52 area..sellers wasnt able to push through..they should have!!

either way im happy for market to play Russian roulette
  • #301,474
  • Feb 25, 2012 12:59pm Feb 25, 2012 12:59pm
It's funny you mention the 52 area. I remember at the time thinking that all the timeframes were lining up for a collapse and was very surprised with the reversal. I would have put the house on a collapse at that time if I could have. I remember BBKing saying he had just put on his biggest ever trade for a BUY at the bottom. I thought he was joking at the time, but... I also agree. 1.65 is not much in the monthly scheme of things bro, hardly the moon on this timeframe from this spot.
Come with me if you want to live....
  • #301,475
  • Edited 1:45pm Feb 25, 2012 1:26pm | Edited 1:45pm
Quoting Ill-b-back
It's funny you mention the 52 area. I remember at the time thinking that all the timeframes were lining up for a collapse and was very surprised with the reversal. I would have put the house on a collapse at that time if I could have. I remember BBKing saying he had just put on his biggest ever trade for a BUY at the bottom. I thought he was joking at the time, but... I also agree. 1.65 is not much in the monthly scheme of things bro, hardly the moon on this timeframe from this spot.
thats why when i enter this trade i made sure my analysis was taking into account 16 month time frame..if u look at the quarterly it made perfect sense to bounce where it did..the fall also to 1.52 made perfect sense i just didnt trust what i was seeing

u will always find u had the perfect trade only to find its our weakness to see it through which let us down..thats why dont talk abt "if only" it will kill u

btw yur wife is going to hit u with the frying pan soon i forecast..
  • #301,476
  • Feb 25, 2012 1:41pm Feb 25, 2012 1:41pm
Quoting nAVIN2007
btw yur wife is going to hit u with the frying pan soon i forecast..


His forecasting skills are pretty good Ill-b-back!
  • #301,477
  • Feb 25, 2012 1:44pm Feb 25, 2012 1:44pm
Quoting Ill-b-back
It's funny you mention the 52 area. I remember at the time thinking that all the timeframes were lining up for a collapse and was very surprised with the reversal. I would have put the house on a collapse at that time if I could have. I remember BBKing saying he had just put on his biggest ever trade for a BUY at the bottom. I thought he was joking at the time, but... I also agree. 1.65 is not much in the monthly scheme of things bro, hardly the moon on this timeframe from this spot.
We have closed above the daily and weekly 55ema and it looks to me like the monthly is next (whie ema). Personally, I would not be surprised 1 little bit if the white channel is respected. Either way, the monthly 55ema will have a lot to say about that in my opinion judging from the way it is tracking the upper channel line and the way price respects / follows it.

With US debt and dollar printing and Gold gaining popularity as a result because it holds its value, could this mean a weak dollar regardless of risk sentiment? Anyone shed any light on this?
Attached Image (click to enlarge)
Click to Enlarge Name: christmas trade37.gif Size: 17 KB
Come with me if you want to live....
  • #301,478
  • Feb 25, 2012 1:55pm Feb 25, 2012 1:55pm
Quoting bbakker

His forecasting skills are pretty good Ill-b-back!
#*@^! here she comes
Come with me if you want to live....
  • #301,479
  • Feb 25, 2012 2:18pm Feb 25, 2012 2:18pm
My final post, These are the immediate weekly lines I am watching.
Attached Image (click to enlarge)
Click to Enlarge Name: christmas trade37.gif Size: 16 KB
Come with me if you want to live....
  • #301,480
  • Feb 25, 2012 3:19pm Feb 25, 2012 3:19pm
Quoting Ill-b-back
With US debt and dollar printing and Gold gaining popularity as a result because it holds its value, could this mean a weak dollar regardless of risk sentiment? Anyone shed any light on this?
A good question and something we haven't covered in Verb's thread that discusses these types of macro economic topics. Check it out and hopefully we will cover this topic soon.
1,023 traders viewing now