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Cable Update (GBPUSD)

  • #308,801
  • Apr 18, 2012 5:50am Apr 18, 2012 5:50am


there is always bear in bull and bull in bear

gonna make harmonic projection for reversal zone but i need daily closed first...

aniway prediction is just prediction .... trading is another thing...hehehhe
Quoting UbuFamily


naVin gonna love u for that!
not euphoria follower
  • #308,802
  • Apr 18, 2012 5:52am Apr 18, 2012 5:52am
Quoting bbmac
Pullback from current Daily hi sees fresh buy the dip demand at the previous 4hr/1hr swing hi and topside of the breeched 1hr descending trend line...now testing the current daily hi again...nice 5min hidden div play there..

will we see a new daily hi off it ?

G/L
Your question which I highlighted sure scare the bear away.

Your charts SUPERB bro.
I trade to live
  • #308,803
  • Apr 18, 2012 5:55am Apr 18, 2012 5:55am
Quoting smikester
Not sure. The dollar seems quite bullish at the moment. But cable is now trading above last week's high. We nearly have a trend, dammit!!
I thought you're cool with it, surely little unexpected shock huh.

You're cool anyway
I trade to live
  • #308,804
  • Apr 18, 2012 5:57am Apr 18, 2012 5:57am
Quoting iqyu5an


there is always bear in bull and bull in bear

gonna make harmonic projection for reversal zone but i need daily closed first...

aniway prediction is just prediction .... trading is another thing...hehehhe


You rock brother
I trade to live
  • #308,805
  • Apr 18, 2012 6:02am Apr 18, 2012 6:02am
thanks but i am still learning here and there brother.

still lot of things to learn in fx . gonna off. c u later

salam....
Quoting UbuFamily


You rock brother
not euphoria follower
  • #308,806
  • Apr 18, 2012 6:06am Apr 18, 2012 6:06am
I thought it only fair to complete my observations. I'm not bullish. That was a low time frame scalp. Look at this:

Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd120418h4.gif Size: 32 KB


This chart is telling me this is as high as we go. What does anyone else think?
Gone to a better place
  • #308,807
  • Edited 6:23am Apr 18, 2012 6:06am | Edited 6:23am
  •  eggs
  • | Joined Nov 2011 | Status: Everybodys A Central Banker Here... | 819 Posts
Not clear on the intent of the market but its clear the 1.5 HR impulsive move up pulled up @ 5993. Were all clear on the relevance of the 6000 level. So WTF? Why would traders Buy the hell out of it non stop & let up south of 6000. Same thing happened week before last as the market sold off from this level impulsively & deliberately. Then simply pulled up 4 Points above the 5800 handle & reversed.
  • #308,808
  • Apr 18, 2012 6:16am Apr 18, 2012 6:16am
Quoting iqyu5an
thanks but i am still learning here and there brother.

still lot of things to learn in fx . gonna off. c u later

salam....


Take care
I trade to live
  • #308,809
  • Apr 18, 2012 6:17am Apr 18, 2012 6:17am
  •  eggs
  • | Joined Nov 2011 | Status: Everybodys A Central Banker Here... | 819 Posts
Quoting smikester

This chart is telling me this is as high as we go. What does anyone else think?
I would have to agree SK. Again. I find the deliberate exhaustion before reaching the 6000 level rather tell tell.

I will say NY could open and move us there but rather unlikely at this point. JMO.
  • #308,810
  • Apr 18, 2012 6:18am Apr 18, 2012 6:18am
Quoting eggs
Not clear on the intent of the market but its clear the 1.5 HR impulsive move up pulled up @ 5993. Were all clear on the relevance of the 6800 level. So WTF? Why would traders Buy the hell out of it non stop & let up south of 6800. Same thing happened week before last as the market sold off from this level impulsively & deliberately. Then simply pulled up 4 Points above the 5800 handle & reversed.
Read my earlier posts , this has now confirmed wave 3 to 1.64 area so i have been long & will stay long till 1.6250 & re evaluate for the final spurt! Good luck to all! To anyone who wants to take the ride wait for a better entry around 1.5962 area we should see it before NY! Its wave 3 FAST & FURIOUS! Once it takes OFF YOU WONT JUMP IN!
  • #308,811
  • Apr 18, 2012 6:21am Apr 18, 2012 6:21am
Quoting smikester
I thought it only fair to complete my observations. I'm not bullish. That was a low time frame scalp. Look at this:

Attachment

This chart is telling me this is as high as we go. What does anyone else think?
IMO, if one weekly candle closed above the resistance zone of yours, there could be bull trend appearing.

But fundamentally speaking, not logic for cable to change trend at this level because Pound do really suffered a hard time.

IMO
I trade to live
  • #308,812
  • Apr 18, 2012 6:26am Apr 18, 2012 6:26am
  •  eggs
  • | Joined Nov 2011 | Status: Everybodys A Central Banker Here... | 819 Posts
Quoting Allseeingeye
Read my earlier posts , this has now confirmed wave 3 to 1.64 area so i have been long & will stay long till 1.6250 & re evaluate for the final spurt! Good luck to all! To anyone who wants to take the ride wait for a better entry around 1.5962 area we should see it before NY!

Sorry As. I meant the relevance of the 6000 level not 6800 as I mistakenly indicated. But interesting analysis on the wave count. Tell me are you counting the first wave from 4/5?
  • #308,813
  • Apr 18, 2012 6:26am Apr 18, 2012 6:26am
My face-to-face companion tonight

Attached Image (click to enlarge)
Click to Enlarge Name: huhu.jpg Size: 154 KB


Cheers
I trade to live
  • #308,814
  • Apr 18, 2012 6:26am Apr 18, 2012 6:26am
wot holds back the cable is the mpc minutes, 0-0-9, same vote count. if it can hold at current price level without retreating too much at day close followed by a broad dollar weakness,i.e. rise in aus euro etc. then we will see 1.62 in very near future,otherwise, it's just a matter of time for the cable to fall again. just my thots
  • #308,815
  • Apr 18, 2012 6:36am Apr 18, 2012 6:36am

Wednesday, April 18, 2012 1:30:10 AM *(UK) BOE VOTED 8-1 TO MAINTAIN THE ASSET PURCHASE TARGET AT £325B; Member Posen voted to leave asset purchases unchanged, while Miles voted for £25B in extra purchasesInflation: - Short-run path for CPI likely higher than in Feb forecasts, "greater chance" for above target CPI will persist in the medium term. - MPC could not judge when inflation will return to target. >- There is risk that inflation may persist and that MPC commitment to inflation target might be called into question. - Downside risks to CPI from potential damage to household and business confidence, if ONS reports further GDP falls. - Oil/commodity price shocks, corporate profit margins and weak productivity pose upward CPI risks. - Tax hikes, energy prices to boost CPI in near term. - Companies may raise prices to compensate for lack of credit. Growth: - Surveys point to moderate growth in H1 2012, likely to have picked up from H2 2011 - Weak ONS construction data and Jubilee Holiday means ONS could report UK GDP falls in Q1 and Q2 - Sharp falls in construction output are "perplexing", MPC minded to focus on survey indicators. - Global economy recovery proceeding as expected, but markets' EU concerns greater if anything. - Euro crisis still poses major risk to the UK economy. Monetary Policy: - Majority preferred to close current program before taking new view (Note: The current round of QE is due to end in May)

Have Market Intel? TradeTheNews.com Tip Line -> Click Here

  • #308,816
  • Apr 18, 2012 6:37am Apr 18, 2012 6:37am
  •  eggs
  • | Joined Nov 2011 | Status: Everybodys A Central Banker Here... | 819 Posts
Anyone notice the last three days PA looking VERY similar. It appears to be one of those Three Drive Thing em a bobbers all the cool kids are trading these days.
Attached Image (click to enlarge)
Click to Enlarge Name: cable1.gif Size: 23 KB
  • #308,817
  • Apr 18, 2012 6:37am Apr 18, 2012 6:37am
Quoting Allseeingeye
Read my earlier posts , this has now confirmed wave 3 to 1.64 area so i have been long & will stay long till 1.6250 & re evaluate for the final spurt! Good luck to all! To anyone who wants to take the ride wait for a better entry around 1.5962 area we should see it before NY! Its wave 3 FAST & FURIOUS! Once it takes OFF YOU WONT JUMP IN!
Could we have a chart please? You haven't posted a chart for 4 months and now you say it will rise so fast in the New York session we won't be able to get a fill?
Gone to a better place
  • #308,818
  • Apr 18, 2012 6:37am Apr 18, 2012 6:37am

BOE Posen sheds his dovish feathers

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  • #308,819
  • Apr 18, 2012 6:40am Apr 18, 2012 6:40am
I trade & make calls i dont show charts im sorry i am to busy but thats what im in, i took a few losses going short thinking wave 2 could have gone to 156-157 but once we broke 1.59 it was OVER! GOOSE IS COOKED!
  • #308,820
  • Apr 18, 2012 6:41am Apr 18, 2012 6:41am
I am adding 2 lots at the retrace 1.5962 IF IT GETS THERE
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