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Cable Update (GBPUSD)

  • #303,441
  • Mar 13, 2012 12:06pm Mar 13, 2012 12:06pm
Quoting bbakker
It will take months to play out, so let's focus on immediate price and where it is heading!

Anyone have link to live of FOMC Statement?
  • #303,442
  • Mar 13, 2012 12:07pm Mar 13, 2012 12:07pm
Quoting bbakker
EU is not going to parity! You really need to study the weekly/monthly charts in depth my friend! Also, if there is a flight from the Euro, where are people going to park their cash? Look at EURGBP chart!

brian look in wormies thread..
  • #303,443
  • Mar 13, 2012 12:10pm Mar 13, 2012 12:10pm
Quoting scramble
sorry but i'm not a trendline guru.
but if i have to draw a line or die i would draw it like this

(...and die... lol, joking)


I like the way you keep it simple! I still think we need a re-test of this trendline lower down... but hey, who knows
  • #303,444
  • Mar 13, 2012 12:11pm Mar 13, 2012 12:11pm
I've just closed my sell, not worth keeping it open as it could go either way at fomc.
  • #303,445
  • Mar 13, 2012 12:12pm Mar 13, 2012 12:12pm
Quoting egkid

Anyone have link to live of FOMC Statement?
It is usually here - http://www.c-span.org/Live-Video/C-SPAN/

But I can tell you that I fall asleep watching this shit... lol
  • #303,446
  • Mar 13, 2012 12:12pm Mar 13, 2012 12:12pm
on the daily price is firmly back in the recent 5927-5643 range after a false 1st b/o to 5991 and the fall and downside 1st b/o to yesterday's 5601 low and subsequnet pullback inside this range...with the close of this daily candle that LL may become fractal if price closes above the daily open although the higher thye close the greater the fractal swing.

This t/f is now ranging again with a recent bearish biais re overall price action analysis.

G/L
Attached Image (click to enlarge)
Click to Enlarge Name: z.jpg Size: 66 KB
ex member
  • #303,447
  • Mar 13, 2012 12:12pm Mar 13, 2012 12:12pm
Quoting egkid

Anyone have link to live of FOMC Statement?
try http://www.c-span.org/ on one of their online channels
  • #303,448
  • Mar 13, 2012 12:13pm Mar 13, 2012 12:13pm
Quoting GDR3k
I've just closed my sell, not worth keeping it open as it could go either way at fomc.

quite wise i think..its perhaps building a flag..this move down..was to make people short..i think so a reaction here north should take a lot of money..if i was a big player i certainly would do this, it makes perfect technical sense..however trading has no rules so expect nothing, except market will move
  • #303,449
  • Mar 13, 2012 12:14pm Mar 13, 2012 12:14pm
Hi Nav

Do you see anything re sound tech analysis on the monthly chart to support your bullish biais - and if so what ?

Thanks mate

G/L

Quoting nAVIN2007
i dont have no clue man..i just listen to chart and play the formations..and try to stick to the plan ..i choose long..

its this simple..euro is doing very bad cable effected..oil and gold will rise..cable will fly with it..war also

to bet against gold, oil, war is like asking to be reborn again hence meh long

seriously.. i see gbp strength increasing as it perhaps bottomed out
ex member
  • #303,450
  • Mar 13, 2012 12:14pm Mar 13, 2012 12:14pm
Quoting GDR3k
try http://www.c-span.org/ on one of their online channels
Beat you to it
  • #303,451
  • Mar 13, 2012 12:14pm Mar 13, 2012 12:14pm
Quoting bbakker


I like the way you keep it simple! I still think we need a re-test of this trendline lower down... but hey, who knows
thank you!
i must admit that a friend suggested me how to draw that line some weeks ago since i really like not look at them too much.
as you see i simply got a plan and look what price does. and trade it.
it's most beautiful and easy thing to do!

about down is possible but i still see no reasons to short. the touch near 5750 should have crashed price until 5700 again for what i'm used to see.
let's see few minutes and i will close my trade. better i don't waste this profits !
  • #303,452
  • Mar 13, 2012 12:14pm Mar 13, 2012 12:14pm
Quoting 0rPhioZ
What you say comes into my mind too, since we're alternating between BUY and SELL, open position LONG then SHORT when we tp or sl. What I think is important is the fact that we currently have a large amount of buy orders now.
what i mean is stop thinking what other people are doing and start to focus on your chart.. you will never know what they are thinking or the market sentiment due to the news release..

we have our stops to tell us that we are wrong, learn how to place the stops correctly. I have my trade based mainly on 4h since i see it less noise compared to the lower TF. the higher TF the better but you must ensure that your stops should be able cater the drawdown or downsize your position in the market. Lastly, the money management, i only allow max 5% risk to any trade that i made.

Sorry if i boring you, mate. Hope that helps. GL.
  • #303,453
  • Mar 13, 2012 12:21pm Mar 13, 2012 12:21pm
Quoting bbakker
It is usually here - http://www.c-span.org/Live-Video/C-SPAN/

But I can tell you that I fall asleep watching this shit... lol
Thank you.
B Back later to check
Cya
  • #303,454
  • Mar 13, 2012 12:22pm Mar 13, 2012 12:22pm
Quoting mkshoaib
Long 5670
Sold 5730, 60 Pips
  • #303,455
  • Mar 13, 2012 12:25pm Mar 13, 2012 12:25pm
GBPUSD has reached the 1.5650 level 4 times now since mid-February. Today’s rally appears to be a small correction of the sell-off from 1.5832 and there is a cluster of resistance at 1.5693 by way of 38.2% retracement, a symmetry target and the pivot low from 3/6. This resistance at 1.5693 combined with projections for GBP to move lower towards 1.54/53 suggest a strong risk reward to go short at current levels with a stop above 1.5725
  • #303,456
  • Mar 13, 2012 12:25pm Mar 13, 2012 12:25pm
Quoting bbmac
Hi Nav

Do you see anything re sound tech analysis on the monthly chart to support your bullish biais - and if so what ?

Thanks mate

G/L

i agree with your chart..buts a newly formed trendline..working of a quarterly or yearly chart..the PA has moved in a bullish stance..

on the monthly a more obvious trendline broke and has held ever since..PA is also supporting the 50% retrace line..and looking at the bigger picture its held so far

yearly chart shows indecision to move lower..bulls are attempting..usd is at an extreme resistance also euro support..gbpflx has i think bottomed out..USD has gained employment but the jobs pay scale is small (qualified people applying for small jobs..) consumer spending is higher and debt rising..when i take all this into account i back the pound..then u have the games in UK
my decisions is based on technicals..but im seeing signs for bulls
  • #303,457
  • Mar 13, 2012 12:29pm Mar 13, 2012 12:29pm
ok i closed my long for 95 pips.
price can take some shakes.
leaving.
good bye
  • #303,458
  • Mar 13, 2012 12:30pm Mar 13, 2012 12:30pm
I dont see any problem with these charts though...
Monthly
Attached Image (click to enlarge)
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the trendline is supported by the movements seen here in the weekly chart...
the weekly chart is consolidating on the Upwards trendline with huge confusion over the past few weeks...
some times closing above and closing below... and you can see the candle closes and opens are respecting this upward trend ive drawn in the monthly chart...
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdw1.gif Size: 17 KB

IMHO we have already broken BELOW unless it manages to recover back above this upward trend and its running out of consolidating space now... besides i believe we'll see 1.50 and 1.45 first in GBPUSD before 1.65 and definitely before 1.73 according to my charts... besides the fundamentals are against GBPUSD going up... with UK likely going for a next QE as the banking sector here in UK is yet suffering again, and blaming mervyn king for the lack of support... stagnant growth in GDP for the last 2 quarters and people can argue we stayed above recession thanks to the UK QE1 we had... you really think the GBP can strengthen with the lack of economic momentum for growth here in UK??
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #303,459
  • Mar 13, 2012 12:31pm Mar 13, 2012 12:31pm
Quoting A-speculator
what i mean is stop thinking what other people are doing and start to focus on your chart.. you will never know what they are thinking or the market sentiment due to the news release..

we have our stops to tell us that we are wrong, learn how to place the stops correctly. I have my trade based mainly on 4h since i see it less noise compared to the lower TF. the higher TF the better but you must ensure that your stops should be able cater the drawdown or downsize your position in the market. Lastly, the money management, i only allow max 5% risk...
No, not at all. What you say just reminds me more about incorporating technicals and fundamentals into my strategy without questioning about the reasons why such events happened. The only reason why I discuss that in this forum is only to enrich my knowledge. Hope you don't mind sharing your fundamentals expertise here .
  • #303,460
  • Mar 13, 2012 12:37pm Mar 13, 2012 12:37pm
Quoting bguguen
I dont see any problem with these charts though...
Monthly
Attachment

the trendline is supported by the movements seen here in the weekly chart...
the weekly chart is consolidating on the Upwards trendline with huge confusion over the past few weeks...
some times closing above and closing below... and you can see the candle closes and opens are respecting this upward trend ive drawn in the monthly chart...
Attachment
IMHO we have already broken BELOW unless it manages to recover back above this upward trend and its running...
LOL.. are you really buying it will get to 1.73 this year? tell u the truth, i cannot tell you that, i don't know if anybody here will.. but my view is the same as you since as i said earlier on, we have yet to make any bullish signs in weekly (we still have lower highs and lower lows) and price don't make sudden turn, if we want to go up, the price will shows signs of exhaustion first which it still has not..

I don't know mate, everyone of us has different sums of margin and perhaps some of us swing trade to the said price, i can assure you, i'm not trading that way.. but 1.73 is real, if the price going that way, that is the cluster resistance it has to break before it can go higher..
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