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Cable Update (GBPUSD)

  • #305,981
  • Apr 3, 2012 10:51am Apr 3, 2012 10:51am
Quoting agni123
as in going down from there?
all i say is, if there will be a reversal, wait for the candle to form and if there's breakout, wait for retracement..

since 4h we have a bearish candle, i'm not so sure regarding reversal to 6000.. perhaps a breakout then retest, that is the reversal i would expect.. a reversal for a retest.. i'm not sure we're visiting 6000 again.. imho.
  • #305,982
  • Apr 3, 2012 10:55am Apr 3, 2012 10:55am
i don't find a pair that is really easy to trade like the audnzd.. a real peace of mind.. all you have to do is just push the sell button.. lol.
  • #305,983
  • Apr 3, 2012 10:56am Apr 3, 2012 10:56am
Quoting agni123
from looking at the 4H TF, cable would have a strong support in 5954-5950 area.. I am looking to go long there.
4 now it has tested 5956 Three times !

Hence , Your View looks so right !


but 2 me it might even touch 5935 - 5940 area

Patterns have an underlying mathematical structure.
  • #305,984
  • Apr 3, 2012 11:02am Apr 3, 2012 11:02am
Quoting A-speculator
i don't find a pair that is really easy to trade like the audnzd.. a real peace of mind.. all you have to do is just push the sell button.. lol.
Ummm better watch out... im expecting a retracement on the AUDNZD im heavily loading longs, the more deeper it goes the larger the lots are... i dont need a big retracement just one good enough to be in profit
We live in a finite world with infinite possibilities.
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  • #305,985
  • Apr 3, 2012 11:06am Apr 3, 2012 11:06am
Quoting Amir_Forex
4 now it has tested 5956 Three times !

Hence , Your View looks so right !


but 2 me it might even touch 5935 - 5940 area

you're view might be right, this is the technical obstacles that might sustain price from moving down, but if there will be a drop, it will drop hard, but if there will be a reversal, we should see reversal candle about the support and should provide us enough time to act on that..

atm, seems like everything is aligned for the drop, the fiber has just touch 3340, which also my entry point and swissy trading above 9000, the EG reach its resistance at 8355.. you know what i mean right?
Attached Image (click to enlarge)
Click to Enlarge Name: cable.gif Size: 43 KB
  • #305,986
  • Apr 3, 2012 11:09am Apr 3, 2012 11:09am
Quoting bguguen
Ummm better watch out... im expecting a retracement on the AUDNZD im heavily loading longs, the more deeper it goes the larger the lots are... i dont need a big retracement just one good enough to be in profit
that pair has still a lot of room to the downside mate.. you don't need to be a rocket scientist to figure that out..

i only sell on strength on that pair..
  • #305,987
  • Apr 3, 2012 11:17am Apr 3, 2012 11:17am
Quoting A-speculator
that pair has still a lot of room to the downside mate.. you don't need to be a rocket scientist to figure that out..

i only sell on strength on that pair..
Ummm not that much now... 1.23 is a low on the monthly im eyeing at
dont think it'll go much further than that...
i would like to ask you fundamentally why you think NZD should be stronger than AUD??
in my view both AUD and NZD are not immune from China
AUD is only falling because its been overpriced for too long because of gold prices peak at 19xx, but i just dont see how NZD can be this strong...
Soon if the NZD stays strong like this they will be overpriced and they will suffer the same fate as AUDUSD is facing now... while AUDNZD will pullback some

i might need some expert advice here...
Anyways im targeting 1.2700 on AUDNZD since ill be out of it
We live in a finite world with infinite possibilities.
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  • #305,988
  • Apr 3, 2012 11:19am Apr 3, 2012 11:19am
Quoting A-speculator
you're view might be right, this is the technical obstacles that might sustain price from moving down, but if there will be a drop, it will drop hard, but if there will be a reversal, we should see reversal candle about the support and should provide us enough time to act on that..

atm, seems like everything is aligned for the drop, the fiber has just touch 3340, which also my entry point and swissy trading above 9000, the EG reach its resistance at 8355.. you know what i mean right?
Going Long on Eur/Gbp !?



right now 8348
Patterns have an underlying mathematical structure.
  • #305,989
  • Apr 3, 2012 11:20am Apr 3, 2012 11:20am
Quoting A-speculator
that pair has still a lot of room to the downside mate.. you don't need to be a rocket scientist to figure that out..

i only sell on strength on that pair..
i've been ask before not to correct anyone trading style, but i'll say this just once to you..

never ever averaging down mate..
  • #305,990
  • Apr 3, 2012 11:23am Apr 3, 2012 11:23am
Quoting bguguen
Ummm not that much now... 1.23 is a low on the monthly im eyeing at
dont think it'll go much further than that...
i would like to ask you fundamentally why you think NZD should be stronger than AUD??
in my view both AUD and NZD are not immune from China
AUD is only falling because its been overpriced for too long because of gold prices peak at 19xx, but i just dont see how NZD can be this strong...
Soon if the NZD stays strong like this they will be overpriced and they will suffer the same fate as AUDUSD is facing now... while AUDNZD will pullback...
the thing is you're putting value to the price.. i'm asking you, why do you think it will move up? oversold? how do you define oversold?

as long as it is in a downtrend with no valid reversal candle in higher TF, hard for me to think bullish? in 4h, there's no 1 bullish candle, how can you say it's going up?
  • #305,991
  • Apr 3, 2012 11:26am Apr 3, 2012 11:26am
Quoting Amir_Forex
Going Long on Eur/Gbp !?



right now 8348
nope, short at 8355 and 8350..
  • #305,992
  • Apr 3, 2012 11:36am Apr 3, 2012 11:36am
Quoting A-speculator
nope, short at 8355 and 8350..

if i were U , I'd close it with a thin profit , cause 2 me 8363 ( daily TF resistance ) looks better 4 Going Short ...
Patterns have an underlying mathematical structure.
  • #305,993
  • Apr 3, 2012 11:37am Apr 3, 2012 11:37am
all we need right now is more momentum from the USD vs commodity (mainly CAD) and we will see the breakout.. if somehow ucad failed to provide momentum the upside, i think we will see reversal on cable..

atm, i'm watching closely the progress of USD across the board..

regarding EG, it's a boring pair to trade to be honest, hence my SL is just 10 pips away..
  • #305,994
  • Apr 3, 2012 11:41am Apr 3, 2012 11:41am
Quoting A-speculator
the thing is you're putting value to the price.. i'm asking you, why do you think it will move up? oversold? how do you define oversold?

as long as it is in a downtrend with no valid reversal candle in higher TF, hard for me to think bullish? in 4h, there's no 1 bullish candle, how can you say it's going up?
stop being so aggressive and start reading mate.. look at the monthly chart and tell me where was the recent bottom there??
another thing fundy wise i just dont see how NZD could be so strong with such Negative Chinese news coming out...

both AUD and NZD are affected by China

i guess ill have to show you a simple trendline i've drawn just to proof my point of why im eyeing at that 1.2350 area
Also to watch out is MACD is suggesting a bullish reversal waiting to happen...
Attached Image (click to enlarge)
Click to Enlarge Name: audnzdw1.gif Size: 17 KB
We live in a finite world with infinite possibilities.
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  • #305,995
  • Apr 3, 2012 11:47am Apr 3, 2012 11:47am
Quoting bguguen
stop being so aggressive and start reading mate.. look at the monthly chart and tell me where was the recent bottom there??
another thing fundy wise i just dont see how NZD could be so strong with such Negative Chinese news coming out...

both AUD and NZD are affected by China

i guess ill have to show you a simple trendline i've drawn just to proof my point of why im eyeing at that 1.2350 area
Also to watch out is a potential Bullish MACD divergence waiting to happen...
Attachment
what makes u think the support will hold, lower high shown in your graph.. until the candles shows reversal, then only i think it's safe to think of going counter trend.. just my 2 pips mate..
  • #305,996
  • Apr 3, 2012 11:48am Apr 3, 2012 11:48am
Quoting bguguen
stop being so aggressive and start reading mate.. look at the monthly chart and tell me where was the recent bottom there??
another thing fundy wise i just dont see how NZD could be so strong with such Negative Chinese news coming out...

both AUD and NZD are affected by China

i guess ill have to show you a simple trendline i've drawn just to proof my point of why im eyeing at that 1.2350 area
Also to watch out is MACD is suggesting a bullish reversal waiting to happen...
Attachment

what yur view on fomc today?
  • #305,997
  • Apr 3, 2012 11:51am Apr 3, 2012 11:51am
  •  duca
  • | Joined Dec 2011 | Status: Investing is simple, but not easy | 409 Posts
from mail
is true?
short next?
Attached Image (click to enlarge)
Click to Enlarge Name: a.png Size: 11 KB
give 1 and get 100
  • #305,998
  • Apr 3, 2012 11:51am Apr 3, 2012 11:51am
Quoting A-speculator
what makes u think the support will hold, lower high shown in your graph.. until the candles shows reversal, then only i think it's safe to think of going counter trend.. just my 2 pips mate..
Support will initially hold, but your lower high is the immediate trend while the longer trend is upwards as i drawn...
Longer trend Prevails??
another thing im only longing to tp at 1.27 as a retracement move from the TL support

Also sometimes you never know whats gona happen.... could happen to be a bullish gartley pattern you are missing... what happend to the W shape pattern?? if that happens the lower high doesnt matter because when the W shape completes AUDNZD would reach 1.40
Just becareful is my 2 cents, right now ill only trade what i see on the chart which is the immediately weekly support from the trendline...
We live in a finite world with infinite possibilities.
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  • #305,999
  • Apr 3, 2012 11:55am Apr 3, 2012 11:55am
Quoting bguguen
Support will initially hold, but your lower high is the immediate trend while the longer trend is upwards as i drawn...
Longer trend Prevails??
another thing im only longing to tp at 1.27 as a retracement move from the TL support

Also sometimes you never know whats gona happen.... could happen to be a bullish gartley pattern you are missing... what happend to the W shape pattern?? if that happens the lower high doesnt matter because when the W shape completes AUDNZD would reach 1.40
Just becareful is my 2 cents, right now ill only trade what i...
perhaps, that's 1 perspective of seeing things, mind you i don't trade by monthly, i only trade 4h mate..

maybe you right on the support and uptrend.. for me, i only see in 4h if it is safe to go countertrend.. and if the price gonna make a reversal, we should have ample time to act as i don't think it will turn so sudden..
  • #306,000
  • Edited 12:08pm Apr 3, 2012 11:56am | Edited 12:08pm
Quoting nAVIN2007
what yur view on fomc today?
Personally im not paying very much attention on FOMC today but the general idea is if QE is promoted USD will tank... but i hardly doubt QE3 is needed now...
fed already having a tough fight to keep US treasury yields low to keep the QE2 Bond purchase in profit.... i doubt the feds will be dumb enough to push for QE3 but who knows...
personally im more intrigued bout the NFP day after tomorrow... because that'll define whether if QE3 is needed or not... otherwise FOMC today is just a load of air talk, dont get me wrong airtalk from the FED does move the market but not as much as hard evidence like NFP releases...

*****Not to mention this friday, Europe and UK and Canada are having their bank holidays... that'll give US plenty of reasons to move markets with low liquidity on that day... Everyone's on holiday except US... how strange is that??

Im sitting out today waiting for NFP...
We live in a finite world with infinite possibilities.
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