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Cable Update (GBPUSD)

  • #302,621
  • Mar 8, 2012 1:00am Mar 8, 2012 1:00am
Quoting Ill-b-back
I think so there boy,
The question is, how far will she fall?
As a tech/day trader with a "DAILY" perspective, I hope to make money whatever happens...
Well from what i see... seems like you find urself a bullish divergence happening on the MACD right?? but from this picture from abdul... im more intrigued to see a drop all the way to the golden line seen in his picture before a chance of a rebound... heres what i think... the gold line has to be reached before a defining direction... if its a bullish or risk on sentiment when the price hits the gold line.. expect a spike to hit gold line and rebound fast as the action of stop hunts meet real flow of bids...

but on a longer time frame it feels like it might just break 5660 and this is a bearish note... i will have to wait and see... ironically NFP will define the direction...

http://www.forexfactory.com/attachme...1&d=1331188521
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #302,622
  • Mar 8, 2012 1:01am Mar 8, 2012 1:01am
Quoting Zircon
Hey! Tsar please d't send those triangles again i d't like it at all
Always looking the GREAT, never left GOOD Point...
  • #302,623
  • Mar 8, 2012 1:15am Mar 8, 2012 1:15am
Cable in H1 Chart...

Price @1.5765 is Point Key
Attached Image (click to enlarge)
Click to Enlarge Name: 2012-03-08_Cable in H1 + Cam.jpg Size: 485 KB
Always looking the GREAT, never left GOOD Point...
  • #302,624
  • Mar 8, 2012 1:17am Mar 8, 2012 1:17am
triggered 5770 short as my first position, reason is: it's the 38% retracement from last 4h high (~5885) and about 23% retracement from the daily high (~5985).
  • #302,625
  • Mar 8, 2012 1:25am Mar 8, 2012 1:25am
Quoting bguguen
Well from what i see... seems like you find urself a bullish divergence happening on the MACD right?? but from this picture from abdul... im more intrigued to see a drop all the way to the golden line seen in his picture before a chance of a rebound... heres what i think... the gold line has to be reached before a defining direction... if its a bullish or risk on sentiment when the price hits the gold line.. expect a spike to hit gold line and rebound fast as the action of stop hunts meet real flow of bids...

but on a longer time frame it feels...
Ok back for you bro.
You need to take your longer term goggles off for a sec to understand my mindset. I hope my chart shows I am looking for a short off 58. I hope the hidden divergence gets us there. If my up/down scenerio plays out, I will see what happens if and when we get back down to 5645. "IF"price stops there and we have 1 or 2 bullish divergences then a low risk/high reward trade is on the cards. This place is full of scalpers, day traders longer term traders and everything in between. Like I have said, we can all trade in different directions at the same time and still make money. I really hope this is starting to sink in.
Come with me if you want to live....
  • #302,626
  • Mar 8, 2012 1:37am Mar 8, 2012 1:37am
Quoting A-speculator
i don't think bullish is the right sentiment as of right now, pullbacks in downtrend doesn't mean it is bullish.. anyway, i think the price will go towards 5470-5360 area for swing trading.. i'll have my PO at about 5815 and i'm taking this pullback in small lots just for the fun of trading and forward testing the market..
Always looking the GREAT, never left GOOD Point...
  • #302,627
  • Mar 8, 2012 1:49am Mar 8, 2012 1:49am
Quoting bguguen
BTW.... with EURUSD breaking through 1.31 for a brief moment i decided to replot one of the more longer term swing only to find 1.31 is not a support at all... its been a barrier that just got popped... the next real level of technical support for the EURUSD comes in at 1.2980....
i wonder what GBPUSD would do when EURUSD falls that far...
How about Aussie... ? AUD/USD
Correlation (Triangle) with GBP/USD and EUR/USD too.
Always looking the GREAT, never left GOOD Point...
  • #302,628
  • Mar 8, 2012 1:53am Mar 8, 2012 1:53am
Quoting Zircon
Hey! Tsar please d't send those triangles again i d't like it at all
What? Is Tsar posting triangles again?
Gone to a better place
  • #302,629
  • Mar 8, 2012 1:59am Mar 8, 2012 1:59am
Quoting smikester
What? Is Tsar posting triangles again?
Yup, I did... Bro
Always looking the GREAT, never left GOOD Point...
  • #302,630
  • Mar 8, 2012 2:05am Mar 8, 2012 2:05am
Quoting smikester
What? Is Tsar posting triangles again?

http://www.forexfactory.com/attachme...1&d=1326735894
  • #302,631
  • Mar 8, 2012 2:15am Mar 8, 2012 2:15am
XO is BEER ?

Quoting gsantri
http://www.forexfactory.com/attachme...1&d=1326735894
Always looking the GREAT, never left GOOD Point...
  • #302,632
  • Mar 8, 2012 2:23am Mar 8, 2012 2:23am
Quoting Ill-b-back
Ok back for you bro.
You need to take your longer term goggles off for a sec to understand my mindset. I hope my chart shows I am looking for a short off 58. I hope the hidden divergence gets us there. If my up/down scenerio plays out, I will see what happens if and when we get back down to 5645. "IF"price stops there and we have 1 or 2 bullish divergences then a low risk/high reward trade is on the cards. This place is full of scalpers, day traders longer term traders and everything in between. Like I have said, we can all trade in different...
dont get me wrong... im holding my shorts and from the fundies wise its very bearish imho... But if tech wise we find support at that gold line i mention from abdul, it be an interesting place to long if fundies changes bullish there... but im doubtful of that happen... in fact from the looks of things in the shorter term, a retrace is feasible but i will be lookin got short on pullbacks all the way down, but that gold line will be the first area of concern for bears, which is where i may consider closing my shorts in profits there if i see things turning around at that gold line... for gbpusd 1.58 is feasible thats exactly where a downwards trendline would give some resistance to this pair and a good place to short with this fundamentals...
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #302,633
  • Mar 8, 2012 2:31am Mar 8, 2012 2:31am
Looks like cable is getting a bit of a wobble going since the beginning of February. I wonder if it will reach 1.6 this time?
Gone to a better place
  • #302,634
  • Mar 8, 2012 2:31am Mar 8, 2012 2:31am
Quoting Tsar
How about Aussie... ? AUD/USD
Correlation (Triangle) with GBP/USD and EUR/USD too.
Ahh you see Aussie has been a weird one one.. it is not as correlated as the Siamese twins EURUSD, GBPUSD are...
for some strange reason... the AUDUSD also factors in China and Gold correlations to it, making the AUDUSD someone a variant of EURUSD and GBPUSD... at times you may see EURUSD and GBPUSD tanking where AUDUSD finds a support and holds in range...
due to the demand entering AUD despite risk aversion flows towards USD...
someone still demands AUD in risk averse situaiton making AUDUSD a rangebound pair in risk aversion situations...

However fundamentals on AUDUSD is heavily reliant on China... with china revising their growth forecasts and widening the CNY peg to the USD... this is bearish AUD in the long term...
we just need people to realise the AUDUSD is way overpriced, perhaps when the big boys are done playing with stop hunts itll tank further...

My target on AUDUSD this year is to see 0.95 before end of year.
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #302,635
  • Mar 8, 2012 2:32am Mar 8, 2012 2:32am
Quoting smikester
What? Is Tsar posting triangles again?
http://www.forexfactory.com/showthre...30#post5450930




My short still in the upper hill, I still believe on this big fall may be tomorrow,
Enjoy bulls,
If skills could be acquired by watching, every dog would be a butcher. Turk
  • #302,636
  • Mar 8, 2012 2:32am Mar 8, 2012 2:32am
I think that last third hourly candles sure tricked scalpers here
I trade to live
  • #302,637
  • Mar 8, 2012 2:32am Mar 8, 2012 2:32am
i see at as follows:

http://web90.server2.kingstaff-serve...ads/cable1.jpg

some resistance here but i hold to my long with stop at break even...
  • #302,638
  • Mar 8, 2012 2:33am Mar 8, 2012 2:33am
Quoting smikester
Looks like cable is getting a bit of a wobble going since the beginning of February. I wonder if it will reach 1.6 this time?
too early to say... i got 2 downward trendlines that could keep the GBPUSD below 1.59 for some time... unless they are broken...
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #302,639
  • Mar 8, 2012 2:37am Mar 8, 2012 2:37am
for some strange reasons if NFP comes in better or near expectations... i feel it'll only cause some volatility, but what worries me is if Ben decides to speak tomorrow it'll give some worry's to some USD bulls here including myself...
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #302,640
  • Mar 8, 2012 2:42am Mar 8, 2012 2:42am
Quoting bguguen
Ahh you see Aussie has been a weird one one..
Also interest rates higher..
Gone to a better place
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