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Cable Update (GBPUSD)

  • #303,361
  • Mar 13, 2012 9:31am Mar 13, 2012 9:31am
Quoting bguguen
Hey folks... just got back from college and HELL what do you know?! didnt i say something is up with the EURGBP... told everyone to watchout for EURGBP because i belive the EURO is gona dive and GBP to retrace up today... i knew the big boys was on to something today...

nice wins... still waiting to for GBPUSd 1.57 though...
You are one of them, aren't you?? Confess!!

Welcome back and good trading!!
Make your losses in demo. Earn your profits live.
  • #303,362
  • Mar 13, 2012 9:32am Mar 13, 2012 9:32am
I agree with Bbakker..... LET's see......as usual, majority perception or opinion will bring you at the same position with other trader, and it is always at higher risk....
  • #303,363
  • Mar 13, 2012 9:34am Mar 13, 2012 9:34am
Quoting Forexia
You are one of them, aren't you?? Confess!!

Welcome back and good trading!!
lol i dunno... all i know is im gona apply for a internship with bar cap next year since i was recommended by my prof... sooo who knows... ahahaha
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #303,364
  • Mar 13, 2012 9:39am Mar 13, 2012 9:39am
Quoting Forexia
You are one of them, aren't you?? Confess!!

Welcome back and good trading!!
i wouldn't count on 1.57.. just triggered a test position at 5690 and see how the price reacts towards 5700 area..
  • #303,365
  • Mar 13, 2012 9:43am Mar 13, 2012 9:43am
i will add if this area become demand.
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  • #303,366
  • Mar 13, 2012 9:46am Mar 13, 2012 9:46am
Quoting A-speculator
i wouldn't count on 1.57.. just triggered a test position at 5690 and see how the price reacts at 5700 area..



the downward pressure on GBPUSD has faded some but dont be fooled this is no signal to long either... MACD maybe showing its first bar in the green but to long needs to wait for the MA5 to cross above the MA14 then with a next candle increase in standard deviation will you have a long signal... and my friend this is far from happening... however

1.5700 is a round number of which we should all be looking at... a break above this would only mean theres a chance MA5 would cross the MA14 giving a buy signal as soon as standard deviation picks up...

now if this happens you still have a huge resistance at 1.5770 and a downward sloping trend line acting as a resistance as shown here...
so IMHO with risk aversion still on, my advise is to Sell on Pull back upwards, preferably 1.5750 ish...

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We live in a finite world with infinite possibilities.
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  • #303,367
  • Mar 13, 2012 9:46am Mar 13, 2012 9:46am
Quoting scramble
i will add if this area become demand.
i think it will become supply..
  • #303,368
  • Mar 13, 2012 9:49am Mar 13, 2012 9:49am
Quoting A-speculator
i think it will become supply..
no it is already a supply asking to be broken
5660 will tell.
  • #303,369
  • Mar 13, 2012 9:52am Mar 13, 2012 9:52am
i'm used to do this
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  • #303,370
  • Mar 13, 2012 10:04am Mar 13, 2012 10:04am
previous was clear. now is not.
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  • #303,371
  • Mar 13, 2012 10:06am Mar 13, 2012 10:06am
Quoting scramble
no it is already a supply asking to be broken
5660 will tell.
i certainly wouldn't count on the breakout mate.. perhaps we will rest at current price zone before continue downwards tomorrow.. just my 2 cents..
  • #303,372
  • Mar 13, 2012 10:09am Mar 13, 2012 10:09am
Quoting A-speculator
i certainly wouldn't count on the breakout mate.. perhaps we will rest at current price zone before continue downwards tomorrow.. just my 2 cents..
please factor in the FOMC statement later today with your 2 cents...
Ben bernanke is speaking and we shall see how the market would react when Ben talks...

IF its QE positive... Short covering a potential pullback in GBPUSD up to 1.5750
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #303,373
  • Mar 13, 2012 10:14am Mar 13, 2012 10:14am
Quoting A-speculator
i certainly wouldn't count on the breakout mate.. perhaps we will rest at current price zone before continue downwards tomorrow.. just my 2 cents..
yes sure!
but if brek happen can go more up
  • #303,374
  • Mar 13, 2012 10:21am Mar 13, 2012 10:21am
update:
in my chart must close more than 5701
  • #303,375
  • Mar 13, 2012 10:21am Mar 13, 2012 10:21am
Quoting bguguen
please factor in the FOMC statement later today with your 2 cents...
Ben bernanke is speaking and we shall see how the market would react when Ben talks...

IF its QE positive... Short covering a potential pullback in GBPUSD up to 1.5750
doesn't matter what he will says.. at the moment i think market is retesting the previous breakout price as you stated previously.. what the market do atm is retest the breakout price in daily, imho..

until the market indicate otherwise, i think the price will continue downwards tommorrow.. this is based on how the fiber and EG PA today.. afterall, we trade what we believe right? at least that's how i see it. the big boys as you called it know more than any of us so only the PA shows the clear picture of the outcome..
  • #303,376
  • Mar 13, 2012 10:31am Mar 13, 2012 10:31am
i see not traders trading PA in here.
why?!

i would like to see price near 5730-50 to find reasons short so this 5700 will be proven again demand.

must be patient.
forex requires more patience than money to trade
  • #303,377
  • Mar 13, 2012 10:35am Mar 13, 2012 10:35am
Quoting scramble
i see not traders trading PA in here.
why?!

i would like to see price near 5730-50 to find reasons short so this 5700 will be proven again demand.

must be patient.
forex requires more patience than money to trade
line in the sand is 5715/20 which is about the 50% of the previous downmove in 4h..
  • #303,378
  • Mar 13, 2012 10:39am Mar 13, 2012 10:39am
Quoting A-speculator
doesn't matter what he will says.. at the moment i think market is retesting the previous breakout price as you stated previously.. what the market do atm is retest the breakout price in daily, imho..

until the market indicate otherwise, i think the price will continue downwards tommorrow.. this is based on how the fiber and EG PA today.. afterall, we trade what we believe right? at least that's how i see it. the big boys as you called it know more than any of us so only the PA shows the clear picture of the outcome..
Wait a minute... do you even see any clear picture of PA when the market is all hyped and messed up right now??
besides it doesnt matter what Ben Bernanke speaks, itll still go down and go down forever... Buddy... you really dont know a clue how the game works do you?? Ben Bernanke can come up with a whole lot of bullshit about oh how US economy is weak and stuff and PEOPLE ACTUALLY BELIEVE his bullshit man... Thats why you can see... for the last couple of Months US has a strong NFP but ever time a strong NFP comes out BEN Bernanke comes out to rain on the Dollar Bulls parade... In time you will learn not to mess with statement that comes out... Fundamentals although insignificant is the catalyst for a new trend... if you do not pay attention more to the news you will miss out believing oh GBPUSD will go down to 1.50 when oh when ben will keep saying US economy in bad shape and keep printing to a piont GBPUSD might shoot to 1.9 GET IT?!

Dont base everything on technicals... even a tech trader can lose lots of money because of poor fundamentals...
Im not saying this directly to you but to all traders here... never neglect the fundamentals...
We live in a finite world with infinite possibilities.
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  • #303,379
  • Mar 13, 2012 10:43am Mar 13, 2012 10:43am
SSSSSTRONG!
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  • #303,380
  • Mar 13, 2012 10:46am Mar 13, 2012 10:46am
Quoting bguguen
Wait a minute... do you even see any clear picture of PA when the market is all hyped and messed up right now??
besides it doesnt matter what Ben Bernanke speaks, itll still go down and go down forever... Buddy... you really dont know a clue how the game works do you?? Ben Bernanke can come up with a whole lot of bullshit about oh how US economy is weak and stuff and PEOPLE ACTUALLY BELIEVE his bullshit man... Thats why you can see... for the last couple of Months US has a strong NFP but ever time a strong NFP comes out BEN Bernanke comes out to...
it's ok mate.. easier to analyze by technical rather than guessing what the outcome of the fundamental.. as what happening now, the market ain't going down yet and my cowboy position earlier (which is based on 38% retracement) has been stop out.. but thats ok.. waiting for tomorrow what the market got to give..
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