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Cable Update (GBPUSD)

  • #308,321
  • Apr 16, 2012 5:14am Apr 16, 2012 5:14am
1hr below shows the potential upside obstacles...as mentioned earlier the Weekly, Monthly and Daily Pivots are all positioned @/around 5878-84.

G/L
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ex member
  • #308,322
  • Apr 16, 2012 5:21am Apr 16, 2012 5:21am
Quoting smikester
Broadening triangle on M5 and H4. A very confused market. Some traders see it as a fix. It's just a market. If you think they are out to get you, get a job planting spuds

Below we have dynamic support line from January. This will be influential. We also have various bullish divergence as pointed out by bbmac. Always consistent. Thanks also to other chart posters.

We also have horizontal support, tested a few times, burst in March. My guess is we bounce from here, but not very high. I like the grey box area,...


[/quote]

Still on the side lines here....flat.

Faller.
I don't trust any move - when you have profit...take it.
  • #308,323
  • Apr 16, 2012 5:24am Apr 16, 2012 5:24am
check out the usd news today.. everything forecasted lower than previous months numbers.. not a good sign for USD. If releases are lower than forecasted we can see a big fall in the dollar
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  • #308,324
  • Apr 16, 2012 5:29am Apr 16, 2012 5:29am
Conversely if the scenario you describe plays out the market could turn 'risk off' with such U.s data further pointing to a 'bumpy' recovery there at best and with potential trouble brewing in Spain, they could decide to buy 'less risky assets' like $ (!) ...trade what you see - not what you think.

G/L

Quoting Dyekid217
check out the usd news today.. everything forecasted lower than previous months numbers.. not a good sign for USD. If releases are lower than forecasted we can see a big fall in the dollar
ex member
  • #308,325
  • Apr 16, 2012 5:32am Apr 16, 2012 5:32am
Quoting bbmac
Conversely if the scenario you describe plays out the market could turn 'risk off' with such U.s data further pointing to a 'bumpy' recovery there at best and with potential trouble brewing in Spain, they could decide to buy 'less risky assets' like $ (!) ...trade what you see - not what you think.

G/L
i am.. I see supply on the dollar for now with stochastics supporting the move and a rejection at r1 but only time will tell if i'm correct

We shall see what happens..
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  • #308,326
  • Apr 16, 2012 5:44am Apr 16, 2012 5:44am
Went long at 1.5835

Aiming for around 40 pips, we will see how it goes.

Good luck everybody.
It 'aint easy, bein' cheesy
  • #308,327
  • Apr 16, 2012 5:45am Apr 16, 2012 5:45am
evening guys,

well i was stopped out early in the asian session but got in again at 5825 with stop at 5800.

seems like we have pretty slow market today, although i'm long the price still has not confirmed the bullish view.

cable atm still trading below the Friday's low so is the fiber. Fiber however found support at about the 1.3 area.

ucad is expected will found resistance at the 1.0 area and if that support hold, cable will have hard time going lower.. imho.

swissy atm is testing the previous high and if that support breaks will give more exposure to the upside on cable.

my analysis does not indicate we have confirmed uptrend just yet, maybe.. just maybe bullish move in the process..

I would not open a short position for the time being as we are very close to the 5800 and might turn to bearish view if 4h confirms it. what i would like to see is cable to sustain trading above the 5850 indicating minor uptrend bias..
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  • #308,328
  • Apr 16, 2012 5:52am Apr 16, 2012 5:52am
Currently 1hr remains in a general opa (overall price action-peak/valley analysis) downtrend. 4hr remains rangy-bearish re opa, and Daily rangy-bullish re opa

G/L
ex member
  • #308,329
  • Apr 16, 2012 5:53am Apr 16, 2012 5:53am
the aussie has been a more bullish move compared to the others.. however, kiwi don't shared the view just yet..

well, i think aussie can indicate how the price might turned out in the near future as we can see traders has move their position from usd to commodity.. if the bullish view is strong, i think we will see more upside to cable.. which might indicate risk on positioning.
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  • #308,330
  • Apr 16, 2012 6:04am Apr 16, 2012 6:04am
CD (Cockdragon) in the making..
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  • #308,331
  • Apr 16, 2012 6:09am Apr 16, 2012 6:09am
Quoting Likerty
CD (Cockdragon) in the making..
cable has to sustain trading above 5850 for this minor bullish view to take place or else we might have consolidation..
  • #308,332
  • Apr 16, 2012 6:11am Apr 16, 2012 6:11am
Quoting Likerty
CD (Cockdragon) in the making..
  • #308,333
  • Apr 16, 2012 6:15am Apr 16, 2012 6:15am
Quoting A-speculator
cable has to sustain trading above 5850 for this minor bullish view to take place or else we might have consolidation..
850? While E/U and U/C made that H1 candle? I guess not..until US news at least...
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  • #308,334
  • Apr 16, 2012 6:17am Apr 16, 2012 6:17am
Buys look risky to me right now.
I'm waiting for lower levels.
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Come with me if you want to live....
  • #308,335
  • Apr 16, 2012 6:19am Apr 16, 2012 6:19am
Quoting Dyekid217
check out the usd news today.. everything forecasted lower than previous months numbers.. not a good sign for USD. If releases are lower than forecasted we can see a big fall in the dollar
you do need to watch out... its nto as simple as forcasted lower so its bad news... forcasting lower gives it a higher chance for surprise upwards on those data....
you also need to look out for possible data revisions...
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #308,336
  • Apr 16, 2012 6:23am Apr 16, 2012 6:23am
Quoting Ill-b-back
Buys look risky to me right now.
I'm waiting for lower levels.
Intraday buys? For which targets?
There is so much lines of various importance in between 850 and 930..
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  • #308,337
  • Apr 16, 2012 6:25am Apr 16, 2012 6:25am
Quoting Likerty
850? While E/U and U/C made that H1 candle? I guess not..until US news at least...
my point is don't go too aggressive on long.. since it's actually picking bottom.. the first minor signal for bullish will be price trading sustainably above 5850..
  • #308,338
  • Apr 16, 2012 6:31am Apr 16, 2012 6:31am
Quoting Likerty
Intraday buys? For which targets?
There is so much lines of various importance in between 850 and 930..
No these are possible buy areas for 200-450 pips which I generally look for.
I'm eyeing off 5769, 5693, 5625 and 56, but I won't know until we get there. main point of my post was that buys at this level seem risky due to bearish pressure and very recent price action.
Come with me if you want to live....
  • #308,339
  • Apr 16, 2012 6:37am Apr 16, 2012 6:37am
Quoting A-speculator
my point is don't go too aggressive on long.. since it's actually picking bottom.. the first minor signal for bullish will be price trading sustainably above 5850..
Yea.. tricky situation..

If I had a trillion - i'll distribute buy orders in the middle of supply - at 800-820 area. ..or silently eat demand right here at 840 and then massive limit targets below 800...

Sometimes thinking like shadow-trillionaire-bankster type bastard helps...
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  • #308,340
  • Apr 16, 2012 6:38am Apr 16, 2012 6:38am
Quoting Ill-b-back
No these are possible buy areas for 200-450 pips which I generally look for.
I'm eyeing off 5769, 5693, 5625 and 56, but I won't know until we get there. main point of my post was that buys at this level seem risky due to bearish pressure and very recent price action.
aa.. clear now
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