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Cable Update (GBPUSD)

  • #309,221
  • Apr 20, 2012 12:17pm Apr 20, 2012 12:17pm
seems day is over:/ hoped for a bit of retrace.
  • #309,222
  • Apr 20, 2012 1:55pm Apr 20, 2012 1:55pm
Okay im chilled im chilled... GBPNZD came back down a bit... PHEW finally some breathing capacity...

But yea i just realized... this week was the first week after easter, no wonder PA and correlations are whacked...
It was pure Big Boys playing around with them Pushing GBP up buying countless and countless with no other players (Hedge Funds, Retail Banks) Selling the GBP....
Its a low Liquidity week this week... reason why GBP had fun all week long...
i expect market to resume to normal PA next tuesday....
i'd be pissed if people decided to take 2 week holiday Beyond the Easter Holiday... They are proper slackers.... prolly the french... c'est la vie....
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #309,223
  • Apr 20, 2012 2:39pm Apr 20, 2012 2:39pm
Quoting pinkiaiii
seems day is over:/ hoped for a bit of retrace.
Don't worry mate, the fibs are lined up perfectly and we just made a broad weekly channel, retrace Mon I recon. Have a great weekend.
Come with me if you want to live....
  • #309,224
  • Apr 20, 2012 4:01pm Apr 20, 2012 4:01pm
Quoting Ill-b-back
Don't worry mate, the fibs are lined up perfectly and we just made a broad weekly channel, retrace Mon I recon. Have a great weekend.
just before market ends, there was a boost to 1.6147 area. before plunging down into 1.6117. Obviously, further buying and mass take profit. I recon next week going down from this week's entire bullishness.
  • #309,225
  • Apr 20, 2012 4:36pm Apr 20, 2012 4:36pm
Price coverered 135% (243 pips) of the 20 week atr this week closing, and 107% (102 pips) of the 20 day atr Friday. So far this month just 57% (344 pips) of the 20 month atr has been covered. A strongly bullish week with the upside breech and close above 3 x descending trend lines on the Daily and Weekly t/f's.

Monthly
The monthly candle has not closed yet of course but if it does so bullishly it will be the 4th consecutive bullish candle on this t/f from and including January's bullish engulfing hammer that started the move from the 5234 low.

Weekly
This t/f is in a general opa uptrend with 3 x HH's now although the last is not a fractal swing yet - it will be a HH when it does form on this t/f.(opa=overall price action-peak/valley analysis.) Price closes well above the 200sma on this weekly t/f . The weekly candle closed as a bullish thrust candle implying more upside probable at some point.

Daily
This t/f has resumed it's general opa uptrend with a H (not yet fractal swing) now above the last LH and last HH after 2 x HL's. Price also trades well above the 200sma on this t/f. 5 consecutive daily bullish candles this week. Price closed in the top quartile of Friday's daily candle.

4Hr
This t/f is in a classic opa uptrend with 5 x HL's and 3 x HH's now (the last HH not yet a fractal swing.) On this t/f the 50sma trades above the 100sma which trades above the 200sma and all are pointing up, price trading above all three.

Potential resistance factors to the upside: (Next Week's Weekly and Monday's Daily pivots included.)


Price closed @/around 6122 testing a Hi of 6148 inside the previous Weekly/Daily swing hi described below:


6136-65 prev Wkly/Daily sw hi zone incl 6164= 76.4% 6454-5234 and Monthly R1 @/around
6167 61.8% 6746-5234 and Daily R1 @/around
6213 Daily R2 @/around
6240-79 prev minor Daily sw lo zone (non immed) incl 6241 = Weekly R1 @/around, and 6275= 85.4% 6454-5234
6289 76.4% 6617-5234
6316 Monthly R2 @/around
6324 Daily R3 @/around
6335-40 Weekly descending trend line on present Daily candle (Monday)
6360 Weekly R2 @/around
6388 76.4% 6746-5234
6415 85.4% 6617-5234
6420-53 prev Daily sw hi zone incl 6435=Daily R4 @/around
6524 85.4% 6746-5234
6550-73 prev Daily sw hi zone
6560-70 Weekly descending trend line on present Daily candle (Monday)
6580-6617 prev Weekly/Daily sw hi zone incl 6597 = Monthly R3 @/around

G/L
Attached Image(s) (click to enlarge)
Click to Enlarge Name: wkly.jpg Size: 74 KB
Click to Enlarge Name: Daily.jpg Size: 88 KB
Click to Enlarge Name: 4hr.jpg Size: 135 KB
ex member
  • #309,226
  • Apr 20, 2012 6:01pm Apr 20, 2012 6:01pm
.$.
Attached Image (click to enlarge)
Click to Enlarge Name: christmas trade53gif.gif Size: 19 KB
Come with me if you want to live....
  • #309,227
  • Apr 20, 2012 7:43pm Apr 20, 2012 7:43pm
It's dimensional art,
hang it on your wall this weekend...

Attached Image(s) (click to enlarge)
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Click to Enlarge Name: christmas trade53gif.gif Size: 16 KB
Come with me if you want to live....
  • #309,228
  • Apr 20, 2012 10:28pm Apr 20, 2012 10:28pm
Key R area is 1.6150. That will contain for awhile, as last week's strong move will be corrected. Watch for the correction take the pair to 1.6024. That will be a deciding point. A break of that point and there will be a strong move to 1.5932. Unless we have a complete trend change the latter will hold and then see a strong move north. If 1.5932 contains, then we could see a move to the bottom of the monthly cloud at 1.6432.

http://s17.postimage.org/natyspy7z/image.gif
image host
  • #309,229
  • Edited 10:44pm Apr 20, 2012 10:33pm | Edited 10:44pm
http://www.forexfactory.com/attachme...1&d=1334977267.
http://www.forexfactory.com/attachme...1&d=1334931942
http://www.forexfactory.com/attachme...1&d=1334979765

Quoting iqyu5an
on eyed 61 hi-low 2011
not euphoria follower
  • #309,230
  • Apr 20, 2012 11:38pm Apr 20, 2012 11:38pm
Buy America??
I don't think so



This is very, very, serious sh!t....

http://pro.stansberryresearch.com/10...NDVD/LPSIN412/
Come with me if you want to live....
  • #309,231
  • Apr 21, 2012 12:02am Apr 21, 2012 12:02am
Quoting Ill-b-back
.$.
Looking good bro
I trade to live
  • #309,232
  • Apr 21, 2012 12:45am Apr 21, 2012 12:45am
Quoting UbuFamily
Looking good bro
He, he, looks better than it is bro, there are a couple of sells in there also, you just can't see them.

Have a great weekend mate.
I wonder if the "smart" money offloaded the USD at the beginning of the year for some reason
Come with me if you want to live....
  • #309,233
  • Apr 21, 2012 12:56am Apr 21, 2012 12:56am
Quoting bguguen
Okay im chilled im chilled... GBPNZD came back down a bit... PHEW finally some breathing capacity...

But yea i just realized... this week was the first week after easter, no wonder PA and correlations are whacked...
It was pure Big Boys playing around with them Pushing GBP up buying countless and countless with no other players (Hedge Funds, Retail Banks) Selling the GBP....
Its a low Liquidity week this week... reason why GBP had fun all week long...
i expect market to resume to normal PA next tuesday....
i'd be pissed if people decided to take...
chart
Attached Image (click to enlarge)
Click to Enlarge Name: cable1.jpg Size: 112 KB
  • #309,234
  • Apr 21, 2012 1:33am Apr 21, 2012 1:33am
Quoting Ill-b-back
Buy America??
I don't think so



This is very, very, serious sh!t....

http://pro.stansberryresearch.com/10...NDVD/LPSIN412/
where did u get this?? It totally scare me...although I'm not american but the currency we all hold for trading are the reserve currency USD.. So if America loses its reserved currency, then that will affect us a lot. I mean totally A LOT!
I trade to live
  • #309,235
  • Apr 21, 2012 1:37am Apr 21, 2012 1:37am
Quoting Ill-b-back
He, he, looks better than it is bro, there are a couple of sells in there also, you just can't see them.

Have a great weekend mate.
I wonder if the "smart" money offloaded the USD at the beginning of the year for some reason

Really got sells in it?? lol u little hedger!

The smart money are beyond prediction bro...
I trade to live
  • #309,236
  • Apr 21, 2012 2:07am Apr 21, 2012 2:07am
Quoting UbuFamily
where did u get this?? It totally scare me...although I'm not american but the currency we all hold for trading are the reserve currency USD.. So if America loses its reserved currency, then that will affect us a lot. I mean totally A LOT!
I subscribe to Money and markets and Uncommon Wisdom.
My holdings are in AUD since the crisis began after I started following their info.
Don't wish to scare but to inform. I never listen to the media, it never made sense to me to be honest, the true story is reflected in the charts (higher timeframes), since buying/selling action on these timeframes is very difficult to be a forgery, unlike information eh.
Come with me if you want to live....
  • #309,237
  • Apr 21, 2012 3:35am Apr 21, 2012 3:35am
Quoting nAVIN2007
i didnt want to say anything but u need to be careful im serious..pound move is just starting..im already eyeing up 1.67 as a target i think even 1.65 might be tough to stop it..the index is building so well

USD is right up at resistance and cable is this high up..so if that falls (usd) or gives way..cable can rise quite high ..1.67-1.7
and still hold a bearish stance at these levels
1.73 above is complete bull

remember one thing..and i will only say this once fundamentals is what trading is all about..but technicals are a leading indicator for the fundamentals

and the technicals are not bearish at all..trade safe

Err...


Notice :
Ops... I'm sorry, Wrong make Post in HERE !
Attached Image (click to enlarge)
Click to Enlarge Name: 2012-04-21_GU - Weekly Chart.jpg Size: 272 KB
Always looking the GREAT, never left GOOD Point...
  • #309,238
  • Apr 21, 2012 3:37am Apr 21, 2012 3:37am
Quoting Tsar
Err...


Notice :
Ops... I'm sorry, Wrong make Post in HERE !

1.65 is so on!!
  • #309,239
  • Apr 21, 2012 3:39am Apr 21, 2012 3:39am
one question people about patterns.

About patterns like abcd gartley or butterfly, ok we can see the entry point, can we estimate from the pattern what will be our take profit exit point?

for example in a bearish butterfly D is the entry point. the price will move lower than B for sure? Lower than C? Lower than A? Does the pattern saying that?

I ask cause i opened a short position in gbpusd, but also in e/u seems that at 1,3250/70 4h chart can see a bearish butterfly.
But i cant estimate what should be my tp. for e/u i can hold my short for good because i am a long tern bear there, but for g/u i want to get out in the safest way.

Or else is there any link or pdf or something that explains good enough those patterns and most the exit point?
There shall be no QE3
  • #309,240
  • Apr 21, 2012 3:46am Apr 21, 2012 3:46am
Quoting nAVIN2007
1.65 is so on!!
Congrat for your Analyze

As you knew, I'm not LONG term Trader, Bro.
Only SCALPer & sometimes SHORT Term with my Little Capital, to make Green Pips. Btw... I really enjoyed
Always looking the GREAT, never left GOOD Point...
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