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Cable Update (GBPUSD)

  • #303,281
  • Mar 12, 2012 1:08pm Mar 12, 2012 1:08pm
Here's a chart with some boxes to play with. The lines are what I use to trade off.
Attached Image (click to enlarge)
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  • #303,282
  • Edited 2:45pm Mar 12, 2012 2:40pm | Edited 2:45pm
IMo price need to print more down, or to print a double bottom near 5602.
simply because 5640 must become demand for more up.
and to do this must breake up but if does will meet previous low 5660 and it is too near IMo.

so reaction 5660 will not be, or if be, will move price easy again in 5602.
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  • #303,283
  • Mar 12, 2012 2:48pm Mar 12, 2012 2:48pm
Quoting _BBKing_
IMo price need to print more down, or to print a double bottom near 5602.
simply because 5640 must become demand for more up.
and to do this must breake up but if does will meet previous low 5660 and it is too near IMo.

so reaction 5660 will not be, or if be, will move price easy again in 5602.

eyes on 5585 n 5540.
above eyes on 5660 n 5724.

sorry for the intrusion. just couldn't resist to post it here :-)
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  • #303,284
  • Mar 12, 2012 3:16pm Mar 12, 2012 3:16pm
Quoting _BBKing_
IMo price need to print more down, or to print a double bottom near 5602.
simply because 5640 must become demand for more up.
and to do this must breake up but if does will meet previous low 5660 and it is too near IMo.

so reaction 5660 will not be, or if be, will move price easy again in 5602.
I agree, the only thing to watch though is that we bottomed out at the 50 fib retrace and may spike up tomorrow to 57 or so. Just wondering BB, how do the supply and demand indies work do you know? Do they measure order volume or price congestion off the chart? or something else? Thx BB.
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  • #303,285
  • Mar 12, 2012 3:19pm Mar 12, 2012 3:19pm
oh well, i see i missed the move down after my PO @ 5740 has not been hit.. currently i stay away from cable and only have position for fiber at 3157 (short) which is at about the 1h high..

later guys..
  • #303,286
  • Mar 12, 2012 3:33pm Mar 12, 2012 3:33pm
Quoting bguguen
From today's movements i agree GBPUSD is bound for a retrace... my guess is up to 1.5700 before a next drop... so it seems like my Sell Limit might actually get a chance to trigger... lets see whats gona happen then...

Interesting seems like Ben bernanke might actually be talking tomorrow... lets see if he is still the Ben "Full of Shit" Bernanke we all know and that will put the risk pairs up and ill be looking to load shorts...
With the 30min and 1hr 10sma coming together at around 57, the voice over guy may get the job done
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  • #303,287
  • Mar 12, 2012 3:36pm Mar 12, 2012 3:36pm
Quoting Ill-b-back
With the 30min and 1hr 10sma coming together at around 57, the voice over guy may get the job done
Asia will have to move though for this I think
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  • #303,288
  • Mar 12, 2012 3:57pm Mar 12, 2012 3:57pm
Quoting Ill-b-back
I agree, the only thing to watch though is that we bottomed out at the 50 fib retrace and may spike up tomorrow to 57 or so. Just wondering BB, how do the supply and demand indies work do you know? Do they measure order volume or price congestion off the chart? or something else? Thx BB.
no indies...
simply when a level shown strong demand is supposed to show supply once broken. what we used to call "re-test"

once a demand becomes supply area, but then for some reasons becomes again demand, price will probably breake previous supply lvl
indeed if now 5660 no supply we should see more up to next lvl 5700 but will probably visit upper one near 5722 or even more.
if show supply we will see again 5640. which i doubt will hold as demand so immediatly. possible, thin liquidity in asia session. let' s see
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  • #303,289
  • Mar 12, 2012 4:16pm Mar 12, 2012 4:16pm
im long at 1.5640, s/l 1.5595, t/p 1.5781
  • #303,290
  • Mar 12, 2012 4:24pm Mar 12, 2012 4:24pm
Quoting Ill-b-back
With the 30min and 1hr 10sma coming together at around 57, the voice over guy may get the job done
Who knows... EURUSD's retraced a bit... exactly where i though it would 1.3150 but will 1.3150 resistance hold?? if 1.3150 holds fall will happen... but im amazed how GBPUSD hasnt retraced quite well soooo...
if GBPUSD and EURUSD to retrace more before a drop... i wonder where??

GBPUSD might retrace to 1.57 before it drops yet again... meaning EURUSD could potentially retrace to 1.3190/1.3200 before the drop in both EURUSD and GBPUSD happens...

but who knows whats gona happen huh...

Or the retracements might have ended... with GBPUSD being flat and EURUSD the actual pair whos retraced... if this is the case... GBPUSD might extend its next leg down to 1.5450 easily

Personally i favour a retracement a bit and it all comes down to what Ben "full of shit" Bernanke has to say tomorrow... QE positive... expect retracement on all risk pairs, but not a strong one as this time... speculators would be smart not to fall for the old Weaken the USD trick from Ben... If its QE negative... Next wave of Strong USD demand would come in....
We live in a finite world with infinite possibilities.
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  • #303,291
  • Mar 12, 2012 4:49pm Mar 12, 2012 4:49pm
Here's a nice chart:

http://www.forexfactory.com/showthre...40#post5467940
Gone to a better place
  • #303,292
  • Mar 12, 2012 4:54pm Mar 12, 2012 4:54pm
A bit of a restudy after TheLastCoke reminded me of an ascending TL that could come into play on Cable.

A link to his chart is here: http://www.forexfactory.com/showthre...40#post5467940

And I have taken the liberty to repost the chart at the end of my five... I hope that he does not mind, but its simplicity in terms of presentation of support region and TL confluence should not be underestimated.

Please note: I have no commercial affliation with TLC, and must point out to those that are not aware of TLC, he was for quite some time a non-commerical member that gave his analysis freely. And good analysis it was... and remains so, as he still posts set-ups and possibilities.
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  • #303,293
  • Mar 12, 2012 4:55pm Mar 12, 2012 4:55pm
Quoting smikester
Here's a nice chart:

http://www.forexfactory.com/showthre...40#post5467940
Ha, we are both looking at TLC's thoughts...
Author of: For Pip's Sake! (Available at Amazon... :-) )
  • #303,294
  • Mar 12, 2012 4:58pm Mar 12, 2012 4:58pm
Is it just me or does it feel like the big boys will be quite active this week on the EURGBP??
We live in a finite world with infinite possibilities.
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  • #303,295
  • Mar 12, 2012 5:21pm Mar 12, 2012 5:21pm
Quoting PoundTrader
im long at 1.5640, s/l 1.5595, t/p 1.5781
I see the Maths bro but
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  • #303,296
  • Mar 12, 2012 6:37pm Mar 12, 2012 6:37pm
Quoting PoundTrader
im long at 1.5640, s/l 1.5595, t/p 1.5781
like it...good luck
  • #303,297
  • Mar 12, 2012 7:11pm Mar 12, 2012 7:11pm
Heres aNother Snapshot clue
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  • #303,298
  • Mar 12, 2012 7:25pm Mar 12, 2012 7:25pm
Quoting educatedthug
Heres aNother Snapshot clue
Looks to me like she is winding up to surprise us all from the looks of your chart
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  • #303,299
  • Mar 12, 2012 7:39pm Mar 12, 2012 7:39pm
Quoting Red Alert
Look at H4 chart...it will easy to see big possibility to countinue bearish trend up to 52XX or lower... But still i don't understand, what fundamental factor specially in UK to support this prediction, I can't see it, ....., ow....ow.....be careful guys, it is more tricky than you thought..... ....Look at strong resistance at 5605, ....
just also remember that many "expert" said last friday that will rise up to 1.6XX, the situation is extremely crazy to be predicted.....I should got 25 pips when it was at highest today peak at 1.5693....but...
Bro...sometimes u need to post your charts here in order to explain your idea on Cable...draw something in your cable using paint..don't forget to attach some indicators or special lines in it...your charts and idea are most welcome here bro
I trade to live
  • #303,300
  • Mar 12, 2012 8:05pm Mar 12, 2012 8:05pm
Quoting Red Alert
Look at H4 chart...it will easy to see big possibility to countinue bearish trend up to 52XX or lower... But still i don't understand, what fundamental factor specially in UK to support this prediction, I can't see it, ....., ow....ow.....be careful guys, it is more tricky than you thought..... ....Look at strong resistance at 5605, ....
just also remember that many "expert" said last friday that will rise up to 1.6XX, the situation is extremely crazy to be predicted.....I should got 25 pips when it was at highest today peak at 1.5693....but...
This is very true, cable is weird all year. I closedy short before end of day yesterday. If we get above 58, funny things could happen
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