Cable Update (GBPUSD)

Just a picture......I call it Complex Head & Shoulders.

Faller.

im not a chart man can you explain what your seeing

check your PM.

yes..its the third touch on the monthly trendline bra

got it

i don't trust you

nAVIN - could you post a chart with that trend line?

Or could you tell me where you start drawing that trendline from....

Thanks,

Faller.

Not a tl

lol

Look at my 4 H TF chart, the old bullish 4 H trend line (yellow) completeley was broken. Sure if you want to make new bullish trend line, you will get it on white line. But look at blue bearish trend line, you will know where cable will go. It is also logic when some body said complex head and shoulder...... I closed all short bull position earlier before london season today.... i will look for good entry to sell....

Hello,

Hi I have got a noob question.

Can someone explain or point out what GBPUSD went short yesterday whereas USDJPY also went short? and what triggered this? Was it the news from Japan?


Thanks,
VeNoM

walk it out bro,

Thanks bro, what about you ....nice to see most of your analysis working well, my respect for you mate

you get my vouch

Thank you very much, mate

GBPUSD / USDJPY=GBP / JPY, currency are only numbers , any time Venom??

USD is bullish atm. Here's the current DXY chart. (if the descending channel UTL holds, we could get a nice ride up on GU on a USD drop off this area. If it breaks, then a deeper GU UJ move down is in order)

Yesterday Shirakawa announced they're holding off on easing (but they'll probably intervene if Yen strengthens too much).

Here's the trade setup I posted 2 weeks ago for the Yen short. Very easy trade.

http://www.forexfactory.com/showthre...30#post5523230

Even from an objective point of view (bull or bear), as yet, due to price action and support levels, on any timeframe 1 hr, 4 hr or daily, I am hardly convinced of this bearish move

I also have something in my head, I am not an economist, so please feel free to correct anything I say below (but be nice to me ).
Much of it is based on the video I posted the other day with other logic thrown in.

I have a billion dollars I wish to pull out of Europe, I need to put it somewhere right? The global economy is shit, so I am looking for safety but I also want growth.

If I want to invest, it needs to be converted to USD, that is USD bullish, but then what?
USD interest rates are low so not going to get much return.
USD money printing has gone beserk, so there's a good chance it is going to lose value over time, hmmm, doesn't seem like a good option to me.

Ok, where else?
Blue chip stocks on US exchange look ok since they pay dividends and US stock market looking much better than Europes, so I might send some there.

But wait a minute, USD interest rates are low, so investing in the US would be cheap for me right now. Ok cool, but the US has an enormous 175 trillion dollar debt problem and nearly defaulted recently, a little scary. They are still having to borrow 50% of every dollar they spend. The economy is still growing very slowely and unemployment is still high even when those who have given up looking for work are not included. Real wages have been falling and they are no longer the largest economy in the world. Ok, we can consider this but it wouldn't be my number one bet for reasons mentioned above.

Gold is a great hedge in uncertain times particularly with so much funny money going around. I hear many, many reports that the real bull run has not yet started and that $5000/ounce is a very realistic figure given the state of this global crisis which is not reponding very well to stimulus. Ok, that seem like a safe place since gold holds it value in real terms exceptionly well and heck China has been buying it in droves and they are not dumb people.

Talking about China...
They are currently the number 1 recipient of foreign cash investment in the world.
They now have the largest economy in the world.
Their economy is growing about 7 times faster than the US, it has slowed down but relative to much of the rest of the world, it is impressive.
They have almost no debt (just over 1 trillion)
They have large cash reserves of over 3 trillion that are growing every month.
Their tax receipts are up 30% on last year.
Real wages are growing, not shrinking.
They have an enormous, very well educated current and future workforce.
They are buying up natural resource mines all over the world crucial to its own future.
Wow, that looks like a good place to invest.
How long is my mandatory currency exchange to USD going to remain that way before I send it somewhere else?

I am asking anyone with knowledge for input, but don't skin me alive or I'll bring out my chainsaw

I am off to work so apologise if I am gone a while and cannot respond.

Yes I agree, but still wait for next res at 0.93304 to be cleared may be soon