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Cable Update (GBPUSD)

  • #311,721
  • May 5, 2012 8:49am May 5, 2012 8:49am
Green rising is 3 pointer UbuFamily is that the one your talking about ?
Attached Image (click to enlarge)
Click to Enlarge Name: gbp usd h4 5-5-12.png Size: 40 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #311,722
  • May 5, 2012 9:03am May 5, 2012 9:03am
Quoting UbuFamily
I just installed Aonda demo platform. I'm curious to know that the platform doesn't even need to be installed in your computer because I just happened to view real price charts through its webpage. So if Mac OS cannot run MT4, does Aonda run well in Apple's Mac Os without even installing all the necessary program??
as i said before, mac can run mt4 by using crossover or virtual machine. nowadays, you can even install windows natively on mac machine since it uses intel processors.

i'm using macbook pro right now and have no problem running mt4 using crossover office. what you have to do is just install the crossover office, add a bottle (im using the winxp bottle), install the core fonts and then install mt4 in the bottle. no problem at all.
  • #311,723
  • May 5, 2012 9:09am May 5, 2012 9:09am
London set for property boom in wake of French and Greek elections as rich buyers flood to the UK to escape euro crisis

Read more: http://www.dailymail.co.uk/money/new...#ixzz1u0ICCHTF

I think this could partly explain the recent strength of Sterling against Euro and other currencies.

As a Londoner, I really do not want the house prices to go up and; the currency to strengthen too much against the Euro. Its not good for the economy in the long term.
  • #311,724
  • May 5, 2012 9:14am May 5, 2012 9:14am
Quoting UbuFamily
and the crossed means...?

Sorry my friend I am noob.
Traders net position that reported by CFTC has turned bullish since 2 weeks ago and increased this week.
  • #311,725
  • May 5, 2012 9:21am May 5, 2012 9:21am
Examine this candle it has gap up ,bigger the gap stronger the reversal ,also must be 50% down previous ,its just below 61.8

Also lets add pivot 1.6300 also falling TL perfect touch

on break if break you know what to do ,rising tl at least before this candle is taken by bulls ,
is high proberbility market will twist and turn but you can feel pretty safe in this knowledge
Attached Image (click to enlarge)
Click to Enlarge Name: dark cloud cover cable.png Size: 35 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #311,726
  • May 5, 2012 9:31am May 5, 2012 9:31am
Quoting Bones
Lol.. this week report maybe not from our planet
  • #311,727
  • May 5, 2012 10:07am May 5, 2012 10:07am
Quoting Rasi
London set for property boom in wake of French and Greek elections as rich buyers flood to the UK to escape euro crisis

Read more: http://www.dailymail.co.uk/money/new...#ixzz1u0ICCHTF

I think this could partly explain the recent strength of Sterling against Euro and other currencies.

As a Londoner, I really do not want the house prices to go up and; the currency to strengthen too much against the Euro. Its not good for the...
Hi Rasi
I would like house prices to go up as I dont want to be in negative equity. I am also a small businessman and frequently before you can get a business loan you need to show collateral.

Do you want prices to go down so that you can pick them up cheap? If they collapse the economy will go down with it and with these clueless politicians greece will be an understatement compared to UK

Olu
If you think you can or cannot do it you are correct
  • #311,728
  • May 5, 2012 10:12am May 5, 2012 10:12am
Haha really you dont need to know honestly


Quoting gsantri
Lol.. this week report maybe not from our planet
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #311,729
  • May 5, 2012 10:34am May 5, 2012 10:34am
Quoting Olu
Hi Rasi
I would like house prices to go up as I dont want to be in negative equity. I am also a small businessman and frequently before you can get a business loan you need to show collateral.

Do you want prices to go down so that you can pick them up cheap? If they collapse the economy will go down with it and with these clueless politicians greece will be an understatement compared to UK

Olu
Hi Olu,

I don't know where you live in UK but the article is about property prices in London. I must admit that I do have a small property portfolio so if prices go up I will do very well and therefore not advocating a crash. However, I rather have a stable situation that helps the country in general.

UK's problem was/is that we are not producing enough here. A strong Pound will put off investment in manufacturing and encourage producing everything off-shore and importing from other countries. This will only increase the unemployment problem, especially the young.

As for comparing UK to Greece, I think you need to study the matter further. Greece has been a poor country for some considerable time and the Greeks were living comfortably using the EU grants. No more..they should start to work and learn to pay taxes.

As for your requirement to use your home as collateral to get a bank loan, I think it is pure madness.

Regards
  • #311,730
  • May 5, 2012 11:16am May 5, 2012 11:16am
base on PA im looking for this to drop to 1.6050 area by monday close
  • #311,731
  • May 5, 2012 11:28am May 5, 2012 11:28am
i think there's reasons why the move for this week is so bloody slow. i think one of them is it's because the price is telling us that the down move is just a retracement. how far this retracement go, that's another question..

technically, yes we have strong support at 6060 area, but we still unable to close below the previous weekly low which mean that the candle is not a black cloud cover..

furthermore, the swissy is at it's weekly resistance so is the candy. my plan is, i'll stay flat for the time being until i saw the first momentum/uptrust to the upside then only i will plan for my entry.
  • #311,732
  • May 5, 2012 11:30am May 5, 2012 11:30am
Quoting Rasi
Hi Olu,

I don't know where you live in UK but the article is about property prices in London. I must admit that I do have a small property portfolio so if prices go up I will do very well and therefore not advocating a crash. However, I rather have a stable situation that helps the country in general.

UK's problem was/is that we are not producing enough here. A strong Pound will put off investment in manufacturing and encourage producing everything off-shore and importing from other countries. This will only increase the unemployment problem,...
Hi Rasi
I agree that a strong pound is not good for the uk. We have very little manufacturing and the very ones we have are being transferred out to other countries.

I agree with you that our situation is not as gross as Greece but if we lose our credit rating because of a tanking situation in the uk we would land in a vicious cycle where interest rates will go up, defaults will go up, prices will go down to attract buyers and desperate selling etc then further downgrades etc. We currently owe about 1 trillion if I am not mistaken. Holy Moly. Shock horror.

As per the 'madness' of putting the home as collateral for 2 times I wanted to buy a chemist via my limited company. The bank/ financing company wanted me to commit my property before they could lend the money. I, like you said it was madness but they said people do it all the time

Olu
If you think you can or cannot do it you are correct
  • #311,733
  • May 5, 2012 12:00pm May 5, 2012 12:00pm
I plan to trade GU as per this chart
http://screencast.com/t/tTnfJj4N1in4
  • #311,734
  • May 5, 2012 12:09pm May 5, 2012 12:09pm
this analysis is based on swissy. this pair does not directly related to cable, but it is directly related to fiber and fiber has some correlation with cable.

as you can see, swissy is respected its fibo retracement in the last 3 retracement at 61%, 50% and last week it is at 38%..

if there's no closed above the 38% level, the resistance remain intact which will bring more upside to fiber and eventually cable will follow.

Due to this, i think cable move down will be limited. how far is the question, i think we will have to look on how the USD strength across the board and mainly against any commodity currency.

atm, kiwi has completed its 161 fibo run and we can expect retracement towards it's breakout price. usually the run towards 161 can be regarded as EW wave completed which will bring abc retracement back to the breakout level at 100 fibo. candy is right at the resistance level both the desc TL and the horizontal resistance at about 9960 area. candy also didn't manage to close above the previous candle high.

unless all these resistance level taken out, the move down in cable will be taken as a retracement.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: swissy.gif Size: 29 KB
Click to Enlarge Name: candy.gif Size: 26 KB
Click to Enlarge Name: nz.gif Size: 33 KB
  • #311,735
  • May 5, 2012 12:22pm May 5, 2012 12:22pm


Quoting A-speculator
i think there's reasons why the move for this week is so bloody slow. i think one of them is it's because the price is telling us that the down move is just a retracement. how far this retracement go, that's another question..

technically, yes we have strong support at 6060 area, but we still unable to close below the previous weekly low which mean that the candle is not a black cloud cover..

furthermore, the swissy is at it's weekly resistance so is the candy. my plan is, i'll stay flat for the time being...
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #311,736
  • May 5, 2012 12:23pm May 5, 2012 12:23pm
Hi guys..wassup, just reading through your analysis..
Trade what you see. Write what you feel
  • #311,737
  • May 5, 2012 12:25pm May 5, 2012 12:25pm
Quoting Bones
black cloud cover means that the current candle (last week's) closed below the low of the previous candle..

last week candle does not closed below the low of the previous candle, so it's not BCC..
  • #311,738
  • May 5, 2012 12:29pm May 5, 2012 12:29pm
The word is watch for a possible long trap as these specs on the COT report are hedging their positions net short on other instruments. Could be one big fake out the price will tell the truth next week
  • #311,739
  • May 5, 2012 12:29pm May 5, 2012 12:29pm
that is not a BCC, if it was, it should closed at 6060 area or below.. then only we can assume it was a BCC.. the blue square is a BCC imho.
Attached Image (click to enlarge)
Click to Enlarge Name: cable.gif Size: 30 KB
  • #311,740
  • May 5, 2012 12:44pm May 5, 2012 12:44pm
A that would be an engulfing ,it is dark clould cover if it breaks

Quoting A-speculator
black cloud cover means that the current candle (last week's) closed below the low of the previous candle..

last week candle does not closed below the low of the previous candle, so it's not BCC..
On-site guru & also FF member's' psychiatrist, when not drinking tea
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