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Cable Update (GBPUSD)

  • #304,781
  • Mar 22, 2012 9:27pm Mar 22, 2012 9:27pm
Quoting C5fx
I think this thing is going to continue down until we get to 1.5650 level, pull back a bit, and possibly test a lower low.

Euro zone is in the shitter, and as much as some people like to think GBP is isolated from the EZ, it isn't.

Price is pulling back quite a bit after these moves from everyone trying to buy the bottom. These people are just going to get flattened by banks if they stick in these trades, IMO.

We're also stuck at/behind 1.5820 which is a very established resistance level. My thought is that price is going to swing past...
I am also watching these levels just out of curiosity since I am hedged. The 100sma works with fib levels quite well after swing moves like this. Watching on TF 15min-1hr
Come with me if you want to live....
  • #304,782
  • Mar 22, 2012 9:29pm Mar 22, 2012 9:29pm
Quoting Faller
How's it going my friend? You trading active or just watching and waiting for an entry?

Hope the sun is out where you are - today it was sunny and 32 C where I live.....beauty day.....normal temps are just 10 C for this time of day!
32C ?! I wish I lived where you live (where is that, by the way? )

It was like 6-8c in BC today :|
  • #304,783
  • Mar 22, 2012 9:32pm Mar 22, 2012 9:32pm
Quoting Faller
How's it going my friend? You trading active or just watching and waiting for an entry?

Hope the sun is out where you are - today it was sunny and 32 C where I live.....beauty day.....normal temps are just 10 C for this time of day!
It's a glorious day here thanks Faller and I'm out in it all day just sitting and waiting, hoping for another down day to finish the week down around Last Thursday or Fridays low some where, so I can hopefully find a legitimate bullish excuse to off load my short.
Come with me if you want to live....
  • #304,784
  • Mar 22, 2012 9:35pm Mar 22, 2012 9:35pm
Quoting Ill-b-back
It's a glorious day here thanks Faller and I'm out in it all day just sitting and waiting, hoping for another down day to finish the week down around Last Thursday or Fridays low some where, so I can hopefully find a legitimate bullish excuse to off load my short.
I am hedged right now btw so price direction is not critical right now, I just prefer the price to go down I suppose, don't know why??
Come with me if you want to live....
  • #304,785
  • Mar 22, 2012 9:38pm Mar 22, 2012 9:38pm
will somebody please pull the cord on the trap door in the floor......
I don't trust any move - when you have profit...take it.
  • #304,786
  • Mar 22, 2012 9:39pm Mar 22, 2012 9:39pm
Quoting C5fx
32C ?! I wish I lived where you live (where is that, by the way? )

It was like 6-8c in BC today :|

Kitchener, Ontario, Canada
I don't trust any move - when you have profit...take it.
  • #304,787
  • Mar 22, 2012 9:43pm Mar 22, 2012 9:43pm
28'c in Burlington, Ontario
lowest draw down possible please.
  • #304,788
  • Mar 22, 2012 9:44pm Mar 22, 2012 9:44pm
Quoting Faller
will somebody please pull the cord on the trap door in the floor......
This could be tricky here bro. By my calculations, we have no quite reached the 50 retrace/(Asian resistance) from yesterday. An Asian drop now would give Frankie enough room to clear out shorts up to the 50 or 61.8 fib level before a resumed fall. Just my thoughts on the matter.
Come with me if you want to live....
  • #304,789
  • Mar 22, 2012 9:48pm Mar 22, 2012 9:48pm
Look inside the blue circle on my chart.....on March 8th I remember someone asking if they have seen that sort of price action before.....that small curving top with wicky candle sticks......

Well now look right.....into the purple circle......does it resemble anything?

Just throwing it out there...

Faller.
Attached Image (click to enlarge)
Click to Enlarge Name: Similar.jpg Size: 198 KB
I don't trust any move - when you have profit...take it.
  • #304,790
  • Mar 22, 2012 9:49pm Mar 22, 2012 9:49pm
Quoting Ill-b-back
This could be tricky here bro. By my calculations, we have no quite reached the 50 retrace/(Asian resistance) from yesterday. An Asian drop now would give Frankie enough room to clear out shorts up to the 50 or 61.8 fib level before a resumed fall. Just my thoughts on the matter.
We also haven't quite reached the 100smas I mentioned which I personally find to accurate turnings levels at times like this.
Come with me if you want to live....
  • #304,791
  • Mar 22, 2012 9:56pm Mar 22, 2012 9:56pm
Quoting Faller
Look inside the blue circle on my chart.....on March 8th I remember someone asking if they have seen that sort of price action before.....that small curving top with wicky candle sticks......

Well now look right.....into the purple circle......does it resemble anything?

Just throwing it out there...

Faller.
overall, the bearish price action has looked unnaturally hesitant on the last 2 drops considering the initially rapid rate of fall. I just get the feeling someone really doesn't want this to fall to the floor despite the bearish excuses.
Come with me if you want to live....
  • #304,792
  • Mar 22, 2012 9:58pm Mar 22, 2012 9:58pm
Quoting Faller
will somebody please pull the cord on the trap door in the floor......
patience man (not patients eh ).. it's still asian session..
  • #304,793
  • Mar 22, 2012 9:58pm Mar 22, 2012 9:58pm
Got to go, been fun as always
Come with me if you want to live....
  • #304,794
  • Mar 22, 2012 10:04pm Mar 22, 2012 10:04pm
Sorry, just 1 more observation. I was watching the 1min chart during yesterday's fall and retrace, and it's structure was remarkably similar to the current weekly structure with yesterday's fall representing the '07 drop.
Come with me if you want to live....
  • #304,795
  • Mar 22, 2012 10:09pm Mar 22, 2012 10:09pm
Quoting A-speculator
patience man (not patients eh ).. it's still asian session..

ok ok ok.......
I don't trust any move - when you have profit...take it.
  • #304,796
  • Mar 22, 2012 10:22pm Mar 22, 2012 10:22pm
Quoting Faller
Kitchener, Ontario, Canada
32 in Ontario?! WTF! Unreal.

At one point yesterday it sleet-ish snowed lightly in Langley, BC.
  • #304,797
  • Mar 22, 2012 10:27pm Mar 22, 2012 10:27pm
Quoting Faller
ok ok ok.......
Ok here is my 2 cents, this pair may still try to to retest res between 840 and 850 may be even attempt at 860 (knowing its Friday and all). impo if it breaks 870 then its a whole new ball game from then on. Did some1 mention a 740 when it falls? if so, then I agree with him.

I am off to bed for now. It has been awesome discussing things with all of you today. have a great time ahead everyone. over and out
I still need a trading break soon!!! "Loose some to win more" --Baher A.
  • #304,798
  • Mar 22, 2012 10:47pm Mar 22, 2012 10:47pm
Quoting baherhosni
Ok here is my 2 cents, this pair may still try to to retest res between 840 and 850 may be even attempt at 860 (knowing its Friday and all). impo if it breaks 870 then its a whole new ball game from then on. Did some1 mention a 740 when it falls? if so, then I agree with him.

I am off to bed for now. It has been awesome discussing things with all of you today. have a great time ahead everyone. over and out
this is just a talk, not exactly an analysis. yes, it is true that we have support at 5750 area. But since we are actually so close to the support (atm it is about less than 100pips) i personally think it won't hold the momentum and the fall is expected to stalled at ultimately 5600 level (bear in mind that we have a support also at 5650), so let's just take 5600-5650 as the area of the support zone.
  • #304,799
  • Mar 22, 2012 10:52pm Mar 22, 2012 10:52pm
Quoting A-speculator
this is just a talk, not exactly an analysis. yes, it is true that we have support at 5750 area. But since we are actually so close to the support (atm it is about less than 100pips) i personally think it won't hold the momentum and the fall is expected to stalled at ultimately 5600 level (bear in mind that we have a support also at 5650), so let's just take 5600-5650 as the area of the support zone.

bear? or bare?
I don't trust any move - when you have profit...take it.
  • #304,800
  • Mar 22, 2012 10:54pm Mar 22, 2012 10:54pm
Quoting Faller
bear? or bare?
you caught me eh... it's bare mate..
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