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Cable Update (GBPUSD)

  • #308,201
  • Apr 14, 2012 2:22am Apr 14, 2012 2:22am
My chart for what it's worth, maybe someone with another interpretation.
Making higher daily highs on the daily following the white 38.2 Fan TL, until the failed retest of the Magenta 61.8 fan producing a lower high and retest of the white 38.2 Fan. Might be heading to retest the 50 Fan.
Who knows
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  • #308,202
  • Apr 14, 2012 2:44am Apr 14, 2012 2:44am
Quoting nAVIN2007
i didnt want to say this but u are playing with fire and if not carefull u going to lose money..
He he I just remembered this comment regarding my hedging strategy. I got to admit nAV, yeah I'm playin' with fire but SHIT, think about it
Bro, this mighty funny coming from you man
Just having' fun brother, I do find Specs analysis encouraging though.
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  • #308,203
  • Apr 14, 2012 5:27am Apr 14, 2012 5:27am
I agree about the ucad and aussie.

According to Moody's capital market research, the Big 4 banks in Australia and 4 banks (Royal Bank and Toronto Dominion are not included) in Canada, which also supported by good performance of the economies of both countries in 2012, making them as the most comfort safe haven areas for investors.
In fact, many of them are turning from Switzerland because no longer comfortable with the SNB's devaluation policy.


Quoting A-speculator
what concerns me about being bearish is the other pairs which suppose to support the down side movement on cable has turned around.

look at aussie, we have a confirmed breakout retest formation on the about 50% of the breakout candle..

kiwi is about the same view as aussie..

ucad we have a long bearish candle to the downside and a retest of the previous resistance which is about 50% of the move also..

swissy we have consolidation in daily and price failed to breakout the range which we still have exposure to the down side on this pair..

all...
  • #308,204
  • Apr 14, 2012 6:26am Apr 14, 2012 6:26am
This is the weekly chart I see from Jan2009 till todate, It can retrace to 1.5500 to touch the trendline in few days I guess.

Attached Image (click to enlarge)
Click to Enlarge Name: weekly.jpg Size: 185 KB



quote=Davit;5571095]Weekly shows uptrend.Look. Daily is down for sure but weekly still uptrend.
I don't see how you proceed to 1.5550 unless willing to wait loooooong time.I hope this was just a nervous retraction.Next week hoping to get back to 5980 level.
and to add I could very well be wrong and pay dearly[/quote]
  • #308,205
  • Apr 14, 2012 10:24am Apr 14, 2012 10:24am
Quoting Ill-b-back
He he I just remembered this comment regarding my hedging strategy. I got to admit nAV, yeah I'm playin' with fire but SHIT, think about it
Bro, this mighty funny coming from you man
Just having' fun brother, I do find Specs analysis encouraging though.
swine
  • #308,206
  • Apr 14, 2012 11:49am Apr 14, 2012 11:49am
I finished the week flat as usual. G/L with your long from that 5845...I guess you gotta hope for some more demand at that steepest ascending trend line on Daily/4hr as it is touched again at Friday's close after an initial shallow pullback to 5863 after the 1st touch. My concern would be Friday's Daily candle and the fact that it closed so near to it's low ?

Anyways,

G/L

Quoting A-speculator
great analysis mate..

yeah, it surprised me too when we should have a follow thru with such long bearish candle on 4h.. it should get to 5800 easily but we didn't and we stop at about the previous support and the daily asc TL.. the market doesn't make it that easy nowadays huh..

got myself a small long at 5845, i'm not sure about any tanking as long as the 2 support hold.. we might even get a morning star next week on the weekly but who knows, right?
ex member
  • #308,207
  • Apr 14, 2012 4:16pm Apr 14, 2012 4:16pm
The bearish prophesy, its all in the charts

Next week WILL be very interesting regardless of what happens.
Interesting comments about Aust and Canada.
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  • #308,208
  • Apr 14, 2012 7:52pm Apr 14, 2012 7:52pm
Quoting Ill-b-back
you are a funny man Specs
Crikey Speculator, I thought you were having some fun with us with an old chart, but I see you are serious, sorry mate, Well done, I like you positive R/R approach Good luck.
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  • #308,209
  • Apr 14, 2012 8:05pm Apr 14, 2012 8:05pm
Quoting Ill-b-back
Crikey Speculator, I thought you were having some fun with us with an old chart, but I see you are serious, sorry mate, Well done, I like you positive R/R approach Good luck.
go have fun with family
  • #308,210
  • Apr 14, 2012 8:31pm Apr 14, 2012 8:31pm
Quoting PoundTrader
go have fun with family
You too mate, I'm away today so a bit bored.
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  • #308,211
  • Apr 14, 2012 8:40pm Apr 14, 2012 8:40pm
Quoting Davit
.5850 major support level.I am taking long for next week retraction.
I don't see it as dramatic drop below 5800.Might go long on EU as well.I live in US and dollar is not that strong yet.
My chart is simple.I use pivots CCI.
Hay Davit sorry for the late reply..I was waiting for u that night..anyway, talking about PA happened last friday , it did however closed below 5850 which is 5847..wasn't that breaking the support level which indicate another bearish fall?
I see u live in the states but how do u see the dollar's strength?
I'm not good at CCI but I understand your view in next week's move..well might be a retracement next London open?
I trade to live
  • #308,212
  • Apr 14, 2012 9:08pm Apr 14, 2012 9:08pm
Quoting A-speculator
what concerns me about being bearish is the other pairs which suppose to support the down side movement on cable has turned around.

look at aussie, we have a confirmed breakout retest formation on the about 50% of the breakout candle..

kiwi is about the same view as aussie..

ucad we have a long bearish candle to the downside and a retest of the previous resistance which is about 50% of the move also..

swissy we have consolidation in daily and price failed to breakout the range which we still have exposure to the down side on this pair.....
Nice analysis, i like how you try to connect the coble with other pairs. i am agree with your opinion, i closed all bear position also when i knew it was hard to break 15840 area, still above key resistance at 15800. I had many position on friday buy USD CHF, sell fibre and cable and all was closed...much more relax now, for many green pips closed positions....
....only my lovely bears on aussie still remain, i will decide to do cut loss or waiting again tomorrow, now it near my bear for green already.

to predict the direction which way cable will go, I prefer to study the historical behaviour, still looking for similiar pattern and i will try to find the technical also fundamental clue.....i know it's still bullish based on higher time frame like what you said, but for daily trader like me..for short term i also see smaller time frame 5m, 15 m, hourly.....

considering the strong resistance area in 15800-15850, may be it will try to retest 15900, learn from my long floated many bear positition last week, i will try to be more patience on cable, to find better entry position or it will another confusing days.... Just like i said, i can be the bear or the bull, .........

Have a nice holiday mate......
  • #308,213
  • Apr 14, 2012 9:37pm Apr 14, 2012 9:37pm
27 Statistics About The European Economic Crisis That Are Almost Too Crazy To Believe
http://world.hawaiinewsdaily.com/201...-to-believe-2/
  • #308,214
  • Apr 14, 2012 11:54pm Apr 14, 2012 11:54pm
Quoting A-speculator
what concerns me about being bearish is the other pairs which suppose to support the down side movement on cable has turned around.

look at aussie, we have a confirmed breakout retest formation on the about 50% of the breakout candle..

kiwi is about the same view as aussie..

ucad we have a long bearish candle to the downside and a retest of the previous resistance which is about 50% of the move also..

swissy we have consolidation in daily and price failed to breakout the range which we still have exposure to the down side on this pair.....
There is an "OLD SAYING" "Sell in May & go Away"! We are 16 Days away, I am short till 1.56-1.57 then long till 1.62-1.64
  • #308,215
  • Apr 15, 2012 1:18am Apr 15, 2012 1:18am
Quoting Red Alert
Nice analysis, i like how you try to connect the coble with other pairs. i am agree with your opinion, i closed all bear position also when i knew it was hard to break 15840 area, still above key resistance at 15800. I had many position on friday buy USD CHF, sell fibre and cable and all was closed...much more relax now, for many green pips closed positions....
....only my lovely bears on aussie still remain, i will decide to do cut loss or waiting again tomorrow, now it near my bear for green already.

to predict the direction which way cable...
nice pip to you too bro..

well, what i'm doing is actually a picking bottom which might get my hands dirty.. as you can see my SL is just below the Friday's low about 20 pips or so..

it's not that big position, 1/5 from my position on friday on cable..

furthermore, i don't expect a sudden jump to the upside either.. if that support hold, we might get to see consolidation above the support for sometime, normally we will see consolidation in 4h or reversal candle on 4h before changing direction..
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  • #308,216
  • Apr 15, 2012 1:19am Apr 15, 2012 1:19am
Quoting Allseeingeye
There is an "OLD SAYING" "Sell in May & go Away"! We are 16 Days away, I am short till 1.56-1.57 then long till 1.62-1.64
there is an "OLD SAYING" also "Buy at support & Sell at resistance".. lol.
  • #308,217
  • Apr 15, 2012 1:22am Apr 15, 2012 1:22am
Quoting Ill-b-back
Crikey Speculator, I thought you were having some fun with us with an old chart, but I see you are serious, sorry mate, Well done, I like you positive R/R approach Good luck.
yeah, thanks mate..

i see your position and wanna ask you about it but afraid of being targeted again.. lol
  • #308,218
  • Apr 15, 2012 1:39am Apr 15, 2012 1:39am
Quoting A-speculator
yeah, thanks mate..

i see your position and wanna ask you about it but afraid of being targeted again.. lol
Nah she's right mate, waiting for support, then waiting for the top
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  • #308,219
  • Apr 15, 2012 2:12am Apr 15, 2012 2:12am
nice thread.
Perfect Trading Core completed on 13/10/2012 : 2002-2012 |10yrs
  • #308,220
  • Apr 15, 2012 6:20am Apr 15, 2012 6:20am
Hello

This is my idea for the next week or maybe plan for the end of the month.
The red line is the two weekly low and if you go back to the second half of March to see the excellent support. There was also 61.8% Fib.
RR would also be good.
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