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Cable Update (GBPUSD)

  • #306,261
  • Apr 4, 2012 9:39am Apr 4, 2012 9:39am
This thing is going back up tomorrow.

Planning to ride this up for the rest of the month.
  • #306,262
  • Apr 4, 2012 9:42am Apr 4, 2012 9:42am
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not euphoria follower
  • #306,263
  • Apr 4, 2012 9:48am Apr 4, 2012 9:48am
Quoting A-speculator
imho, cable has not completed its cycle just yet.. perhaps after we reach 5650.. let's just see how things progress first, atm there's still no valid consolidation to indicate near term pullback..
uhm
this chart shows better what i mean.
lines are dotted because i look at them only to have an idea about possible levels where search a kind of reaction in price.

i would really not be surprised to find price near 5950 tomorrow during late asia.

but as always... time will tell
for the moment better wait to see this daily closing price!
Attached Image (click to enlarge)
Click to Enlarge Name: gu.gif Size: 16 KB
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  • #306,264
  • Apr 4, 2012 9:53am Apr 4, 2012 9:53am
Quoting _BBKing_
uhm
this chart shows better what i mean.
lines are dotted because i look at them only to have an idea about possible levels where search a kind of reaction in price.

i would really not be surprised to find price near 5950 tomorrow during late asia.

but as always... time will tell
for the moment better wait to see this daily closing price!
agreed on the daily closing mate.. but if price go to 5950, i will definitely put 5 times of lot from my position at 6040..

to be frank, i seriously doubt that mate since the price have move so far so fast, which mean that there will be a long consolidation at least we can see the consolidation from 4h before making a u turn.. this i think indicate that the price will go more than this.. 5650-5600 provide cluster support for this..
  • #306,265
  • Apr 4, 2012 10:15am Apr 4, 2012 10:15am
Quoting iqyu5an
http://www.youtube.com/watch?v=Lqh8e2KYIrU
Which Airline ? please
If skills could be acquired by watching, every dog would be a butcher. Turk
  • #306,266
  • Apr 4, 2012 10:29am Apr 4, 2012 10:29am
Quoting A-speculator
agreed on the daily closing mate.. but if price go to 5950, i will definitely put 5 times of lot from my position at 6040..

to be frank, i seriously doubt that mate since the price have move so far so fast, which mean that there will be a long consolidation at least we can see the consolidation from 4h before making a u turn.. this i think indicate that the price will go more than this.. 5650-5600 provide cluster support for this..
It is not always about technical...remember fundamental from both side, i think 15950 is reasonable considering how the price react now....
  • #306,267
  • Apr 4, 2012 10:33am Apr 4, 2012 10:33am
Quoting A-speculator
agreed on the daily closing mate.. but if price go to 5950, i will definitely put 5 times of lot from my position at 6040..

to be frank, i seriously doubt that mate since the price have move so far so fast, which mean that there will be a long consolidation at least we can see the consolidation from 4h before making a u turn.. this i think indicate that the price will go more than this.. 5650-5600 provide cluster support for this..
what i did in last hours was to study this chart:
yellow descending TLs are the repeating of 1st retrace in uptrend with same angle.
1st time was very steep. 2nd (blue dotted was less steep). this is 3rd (red) which actually is not yet confirmed, that's why i think price should go more up to find the yellow area or the red area.
and more shown in this chart there is a kind of main line supporting price when 1.52 and when 1.56 which were 2 strong monthly price levels.
very very very interesting to notice that a possible next touch could happen near 5780-90 5800 if goes there soon, or at these levels 5830-5880 if goes next week.
all this to say that i'm looking for an entry and actually we are in the perfect middle of a lot of things. 1.59 area looks great for short but depending IF WHEN and HOW price get there. maybe never, who knows?
on the other side i'm really unable to imagine price breaking below 5750-5780.
this friday there is NFP with all banks closed (bastards!)
let's see what is gonna happen
Attached Image (click to enlarge)
Click to Enlarge Name: gu.jpg Size: 78 KB
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  • #306,268
  • Apr 4, 2012 10:36am Apr 4, 2012 10:36am
Quoting Red Alert
It is not always about technical...remember fundamental from both side, i think 15950 is reasonable considering how the price react now....
i said that my invalidation price for my analysis is 5920 mate.. if we get there, than yes we will see 5950..

i'm not being bias mate.. i will go bull if the PA shows that it is time for bull.. that's all..

considering we are almost trading on the US session only, i think perhaps the price will drift.. it's ok mate, i have my stops so we'll see how price progress in the next few hours..

later guys..
  • #306,269
  • Apr 4, 2012 11:23am Apr 4, 2012 11:23am
This looking bullish now. But you're right. Not much PA now and also NFP Friday... Not much left for today.
Gone to a better place
  • #306,270
  • Apr 4, 2012 11:32am Apr 4, 2012 11:32am
Quoting A-speculator
lastly is EG. i think this pair indicate the overall direction on fiber, but since fiber is very much related to cable i think this pair is useful to indicate the overall direction for cable also.

if you look at the higher TF, this pair has already violated its upward channel and i think this pair is expose to more downside. since this pair is not as volatile as cable, the small difference in its movement does weigh a lot on the analysis on both fiber and cable.

as you can see, from my charts, i have tried to put POs but none triggered...
I disagree, EG does not indicate the overall direction of EU but reflects the relative performance of EU and GU. For example, both EU and GU could go up but EG may go down if GU goes up more %age wise than EU.

Today, both EU and GU went down but EU tanked relatively more than GU (see chart below) which meant EG went down. As you can see EU went down by 0.8% and GU went down by only 0.2%. EG went down by 0.6% (i-e 0.8% minus 0.2%).


G/L
Attached Image
  • #306,271
  • Apr 4, 2012 11:34am Apr 4, 2012 11:34am
Quoting smikester
This looking bullish now. But you're right. Not much PA now and also NFP Friday... Not much left for today.
Just logged in, and currently trying to find a live feed out of Athens for:

"The Hellenic Republic has decided to extend to April 4 at 1900 GMT the deadline for holders of Greek foreign-law bonds and of bonds issued by state enterprises and guaranteed by the state."

So, have taken profit on the shorts for GU and EU, and stops to BE overnight. And yes, NFP tomorrow, but am expecting the figure to be good to help with election campaigns... I mean, all the other numbers coming out of the US are good, so why not top it off?
Author of: For Pip's Sake! (Available at Amazon... :-) )
  • #306,272
  • Apr 4, 2012 11:37am Apr 4, 2012 11:37am
Pending BUY GBP/USD on 1,58631 TP 1,59069 SL 1,58273
Attached Image (click to enlarge)
Click to Enlarge Name: 16.png Size: 18 KB
  • #306,273
  • Apr 4, 2012 12:07pm Apr 4, 2012 12:07pm
Quoting 45Condor
Just logged in, and currently trying to find a live feed out of Athens for:

"The Hellenic Republic has decided to extend to April 4 at 1900 GMT the deadline for holders of Greek foreign-law bonds and of bonds issued by state enterprises and guaranteed by the state."

So, have taken profit on the shorts for GU and EU, and stops to BE overnight. And yes, NFP tomorrow, but am expecting the figure to be good to help with election campaigns... I mean, all the other numbers coming out of the US are good, so why not top it off?
I agree with you .
  • #306,274
  • Apr 4, 2012 1:35pm Apr 4, 2012 1:35pm
Pff... jump on a flight for a while, and before I know it, I'm already behind. The date for bond agreement for foreign-law investors has now been shifted back to the 18th of this month - if I recall what I have just read in the FT correctly.
Author of: For Pip's Sake! (Available at Amazon... :-) )
  • #306,275
  • Apr 4, 2012 2:13pm Apr 4, 2012 2:13pm
Quoting _BBKing_
what i did in last hours was to study this chart:
yellow descending TLs are the repeating of 1st retrace in uptrend with same angle.
1st time was very steep. 2nd (blue dotted was less steep). this is 3rd (red) which actually is not yet confirmed, that's why i think price should go more up to find the yellow area or the red area.
and more shown in this chart there is a kind of main line supporting price when 1.52 and when 1.56 which were 2 strong monthly price levels.
very very very interesting to notice that a possible next touch could happen near...
I agree, looking very familiar. GU has quickly overcome a few steep bearish runs lately
Come with me if you want to live....
  • #306,276
  • Edited 2:58pm Apr 4, 2012 2:25pm | Edited 2:58pm
Quoting _BBKing_
...this friday there is NFP with all banks closed...
Hmm, yes... being the good Christian that I am, I totally forgot about Easter.

Thanks for the reminder - will steer clear of taking any further positons until next Tuesday; when London can react to market close tomorrow.

EDIT: Erm, not tomorrow, Friday. Dear me, I am in a flux these past few days.
Author of: For Pip's Sake! (Available at Amazon... :-) )
  • #306,277
  • Apr 4, 2012 2:33pm Apr 4, 2012 2:33pm
Quoting Ill-b-back
I agree, looking very familiar. GU has quickly overcome a few steep bearish runs lately

dont f&&^k with meh positions
  • #306,278
  • Edited 3:08pm Apr 4, 2012 2:56pm | Edited 3:08pm
came on to see what people are talking about now...
Seems like bulls climbing right back out of their caves seeing as GBPUSD is not tanking further...
but not time to get excited for the Bulls...
GBPUSD fell back into a consolidation zone 1.5900-1.5850, with GBPUSD tested support at 1.5850 and retraced some, doesnt mean Bulls are back on the table...

Look at this chart and you will see the GBPUSD has fallen BEYOND the trendline which pretty much defined the USD weakness over the last week when Ben told lies about US economy being fragile but sustainable...

Personally on bearish perspective... expecting a test upside for 1.5900 or the first upward trendline closest and failure to get back into the upwards trend will call for further downside pressure...

This is all tech talks though... no idea what NFP is gona do but im gona give a little hint... if NFP data comes out Good... Thats bullish Dollar as long as Ben does not decide to talk about QE after that... as he did a month or so back...
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdh4.gif Size: 16 KB
We live in a finite world with infinite possibilities.
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  • #306,279
  • Apr 4, 2012 3:30pm Apr 4, 2012 3:30pm
Quoting nAVIN2007
dont f&&^k with meh positions
I got a bullish signal but not confirmed yet
Come with me if you want to live....
  • #306,280
  • Apr 4, 2012 4:00pm Apr 4, 2012 4:00pm
Quoting Ill-b-back
I got a bullish signal but not confirmed yet
i got mixed signals... neither bull nor bear... 5900-5850 consolidation zone... with a bearish bias
Lower time frame calling for an up move but dollar buying is still heavy.... im out for today... made enough but id seriously recommend caution for friday... NFP on easter holiday only US alone in the market, they can do some serious damage when they are alone...
We live in a finite world with infinite possibilities.
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