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Cable Update (GBPUSD)

  • #311,881
  • May 7, 2012 11:55am May 7, 2012 11:55am
progress ok gu ,only waiting break 6197 ( actually 6200 ) soon while eu still to gap fill & break of limits for down , 3079 & 94 .
fontu
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #311,882
  • May 7, 2012 11:56am May 7, 2012 11:56am
Quoting Argonod
no worries.
wish a huge profit for you with your buy orders.
and a little of experiences for myself
wish u many pips too
not an easy market to read
  • #311,883
  • May 7, 2012 1:46pm May 7, 2012 1:46pm
OK - out of here..off to bed.

Hoping that GU can get a move on during the night and tomorrow so that I can short her *ss.

Herewith a gif on how not to get "STOPPED" out.

All success
Attached Image
  • #311,884
  • May 7, 2012 1:49pm May 7, 2012 1:49pm
Quoting TauTrader
OK - out of here..off to bed.

Hoping that GU can get a move on during the night and tomorrow so that I can short her *ss.

Herewith a gif of how not to get "STOPPED" out.

All success
Have nice dreams. I shorted 4 times today noon, and hope it goes till 6160 to get the TP. But I know it will do further to the south!
  • #311,885
  • May 7, 2012 2:08pm May 7, 2012 2:08pm
Quoting TauTrader
Check retest 1.6180?


See tomorrow

Regards
  • #311,886
  • May 7, 2012 2:35pm May 7, 2012 2:35pm
Quoting Aini
Have nice dreams. I shorted 4 times today noon, and hope it goes till 6160 to get the TP. But I know it will do further to the south!
Good day to you,

GU still allergic to longer term shorts at this point in time. But open to accept higher price action. Will wait for her to change this stance. But price will have to go up for this to change..

Patiently waiting on the side...

Good luck with your positions.

Now really off to bed.

Regards
  • #311,887
  • May 7, 2012 2:40pm May 7, 2012 2:40pm
Hmm, with aversion to Euro exposure ostensibly on the cards for the immediate future, and wish to keep the Dollar down – that may be a battle for a week or two – I would like to submit this set of charts for Nav to digest.

Just follow the Guppy profile on the 4hr and above.

The monthly is showing convergence of the Guppy profile, but I think it is fighting north, and will not see a rejection until at least the aqua EMA (60)

Last chart is the pivots… if the daily prints above the weekly tomorrow, Cable has a habit of dropping to catch stops, and then keeps on going in the direction as defined by the order of the pivots, so MP<WP<DP.

There are some hurdles to cross on the way up, but how about 1.70 for summer – upon which Brussel's allows Greece to default – which I think will be good for the Euro - but only after French banks rid themselves of their remaining exposure to Greek debt. Eh, what’s that, what about the Hollande factor? Well, he is a fully paid-up member of the elite here in France, and so it remains to be seen just how socialist – in the true sense of the word – he will be. Who did I vote for? Nobody – expat and all that - but if I could, I would have voted for José Bové… he’s the farmer in the south of France that bombed a MacDonalds – probably because the croissants were burnt in some barbaric act of denigrating that most stalwart of French morning institutions– and is a member of an anti-globalization movement.

Vive la France… erm, that’s wrong, I’m British. Long live the Queen… no, that’s not it either, I left the UK for a more idyllic life in France. Ah, I know, down with capitalistic, bourgeois oppression! Hang on, that can’t be right either, otherwise I couldn’t enjoy the life that I have today; or trade, for that matter. I know, it is; if there be wine, women and song, life can happily tick along.
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  • #311,888
  • May 7, 2012 2:56pm May 7, 2012 2:56pm
Quoting nAVIN2007
looking at yur chart u have an immediate uptrend anything above 1.6 is buy dips..monthly is bullish..weekly can change perpective but wont be easy..9/10 the top will be tested b4 a fall if a fall is on...the big guns will make u work for yur pips
hi nav,

i think things has somewhat changed a little bit man.. line in the sand atm is 6200, if cable unable to clear that price convincingly, i think tomorrow it will go down..

afterall, we have breakout in swissy and ucad.. so i think bulls should be careful around current price.. imho
  • #311,889
  • May 7, 2012 3:02pm May 7, 2012 3:02pm
I think she'll give a little then take a lot, typical tomorrow will prob tell
Come with me if you want to live....
  • #311,890
  • May 7, 2012 3:02pm May 7, 2012 3:02pm
Quoting 45Condor
Hmm, with aversion to Euro exposure ostensibly on the cards for the immediate future, and wish to keep the Dollar down – that may be a battle for a week or two – I would like to submit this set of charts for Nav to digest.

Just follow the Guppy profile on the 4hr and above.

The monthly is showing convergence of the Guppy profile, but I think it is fighting north, and will not see a rejection until at least the aqua EMA (60)

Last chart is the pivots… if the daily prints above the weekly tomorrow, Cable has a habit of dropping to catch stops, and...

yes looking at your ema's one cannot argue..it does seem like cable is set to go up..1.7 is on however potentially a brick wall. I guess to break this level the fundamentals would need to support.

if 1.63 goes ie weekly formation fails we could be on to something here
  • #311,891
  • May 7, 2012 3:04pm May 7, 2012 3:04pm
Quoting A-speculator
hi nav,

i think things has somewhat changed a little bit man.. line in the sand atm is 6200, if cable unable to clear that price convincingly, i think tomorrow it will go down..

afterall, we have breakout in swissy and ucad.. so i think bulls should be careful around current price.. imho

lets see where she closes today i have an idea we are forming a bullish pennant on weekly so it needs to go toward 1.6270..lets see
  • #311,892
  • May 7, 2012 3:08pm May 7, 2012 3:08pm
Quoting nAVIN2007
lets see where she closes today i have an idea we are forming a bullish pennant on weekly so it needs to go toward 1.6270..lets see
well, first to consider is fiber, as you can see.. fiber retreat quite significantly to the downside and imho line in the sand for fiber is at about 3065. if that area is defended, hard for cable to proceed more than 6215.. imho.

and atm, line in the sand for cable is 6200. swissy is testing the 9200 support and ucad is testing 9925.

if all the s&r hold, cable won't proceed much from current price. imho.
  • #311,893
  • May 7, 2012 3:10pm May 7, 2012 3:10pm
Quoting 45Condor

Vive la France… erm, that’s wrong, I’m British. Long live the Queen… no, that’s not it either, I left the UK for a more idyllic life in France. Ah, I know, down with capitalistic, bourgeois oppression! Hang on, that can’t be right either, otherwise I couldn’t enjoy the life that I have today; or trade, for that matter. I know, it is; if there be wine, women and song, life can happily tick along.
Definitely.. it is Long live the Queen for me

and

"Keep the Germans out"

Only joking about the Germans.

I know Hollande's victory is priced in for some time but Greece could play havoc with Euro in the days and weeks ahead.

KR
  • #311,894
  • May 7, 2012 3:12pm May 7, 2012 3:12pm
Quoting nAVIN2007
yes looking at your ema's one cannot argue..it does seem like cable is set to go up..1.7 is on however potentially a brick wall. I guess to break this level the fundamentals would need to support.

if 1.63 goes ie weekly formation fails we could be on to something here
I'm onto EG like a broker is to a fresh account... it was too obvious not to take the short after price dropped off the 76.4 FE.


Targets remain. TP1 = FE 100 at 0.800XX, TP2 = 61.8 green standard fib.
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  • #311,895
  • May 7, 2012 3:24pm May 7, 2012 3:24pm
i will be trading more on fiber than cable in the following days since fiber has clear weakness and move better than cable atm..

so, see u all later guys..

green pips to all.
  • #311,896
  • Edited 3:46pm May 7, 2012 3:30pm | Edited 3:46pm
I think this will play out with the Euro heading back down to 1.21 (green standard 50 fib), or even touching the 0 FE at 1.16. Of course, the current 23.6 FE is proving tough support, but is under constant attack... there must surely only be so much that the ECB can through at this line!

The accountants from Brussels/Germany have just been increased from 10 to 40 in Athens... and have been told to take up permanent residence. Add to that the rumoured presence of Grenzschutzgruppe 9 or GSG 9 to protect them, and the inevitable inability for the Greeks to form a coalition government that will work, plus, that most Greeks want to stay in the Euro in spite of the rape of their nation, and I think it will be much of the same for now; as without reverting to the Drachma – which most Greeks want to avoid because of the initial hardships that this will cause – their only viable method of paying state salaries is in Euro.

So, I think the FED will try to quell a rush to the dollar, money will want to avoid the Euro until Greece is annexed from the plutocratics plan for Europe, and everybody loves Sterling when she is on a march north.

Bonds topping, talk of equity rally, Buffet telling everyone that cash is crap, but has the largest reserves of it he has ever held... somewhat like when he told all to dump gold, but was secretly buying as much of it as he could.

Quoting Rasi
Definitely.. it is Long live the Queen for me

and

"Keep the Germans out"

Only joking about the Germans.

I know Hollande's victory is priced in for some time but Greece could play havoc with Euro in the days and weeks ahead.

KR
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  • #311,897
  • May 7, 2012 3:47pm May 7, 2012 3:47pm
Quoting 45Condor
I think this will play out with the Euro heading back down to 1.21 (green standard 50 fib), or even touching the 0 FE at 1.16. Of course, the current 23.6 FE is proving tough support, but is under constant attack... there must surely only be so much that the ECB can through at this line!
I agree with you. I am short EU at present and waiting for a good set up on EG.

Wishing you green pips.
  • #311,898
  • May 7, 2012 3:48pm May 7, 2012 3:48pm
I am short on this pair right now and did feel pretty good about my setup until I took a look at the daily chart. Judging by that time frame alone I wish I could take it back.

One might ask, " Then get out and take your loss if you feel that way, you are not down very much at the time being."

The veterans on here can help me on this one. At the present time I still do not see much upside potential on this pair at least in the near or intermediate term.

Only time will tell.
  • #311,899
  • May 7, 2012 3:51pm May 7, 2012 3:51pm
If, or when, Greece is cut free, I would then expect a rally on the Euro - pending the situation with the bond market and banks in Spain and Italy, and to a lesser degree, France.

And don't forget everyone, Ireland has a referendum shortly upon the austerity measures in place there... not much talk of Ireland in the press (of course, as MSM like to keep things clean and simple), but the Irish sure as Hell don't tolerate too much Blarney.

...hope they tell Brussels to f*** off. However, they did once before, and were ignored and almost frog-marched back to the booth to vote the correct way. Ah, democracy, what a farce.

Quoting Rasi
I agree with you. I am short EU at present and waiting for a good set up on EG.

Wishing you green pips.
Author of: For Pip's Sake! (Available at Amazon... :-) )
  • #311,900
  • May 7, 2012 4:04pm May 7, 2012 4:04pm
Tomorrow is bank holiday in France, and so a mixed day may prevail.

Wednesday is all hands on deck.

What do you not like about the daily that you look at?

For me, if price can be contained around the green standard 61.8 fib, there is every chance of fall back down. Of course, don't expect London to be kind to weak stops...

Quoting Snarkalarker
I am short on this pair right now and did feel pretty good about my setup until I took a look at the daily chart. Judging by that time frame alone I wish I could take it back.

One might ask, " Then get out and take your loss if you feel that way, you are not down very much at the time being."

The veterans on here can help me on this one. At the present time I still do not see much upside potential on this pair at least in the near or intermediate term.

Only time will tell.
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