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Cable Update (GBPUSD)

  • #312,941
  • May 14, 2012 3:54am May 14, 2012 3:54am
Quoting Flynchenberg
$32,000

LOL
sorry





I don't trust any move - when you have profit...take it.
  • #312,942
  • May 14, 2012 3:55am May 14, 2012 3:55am
Quoting bbmac
6050 - current daily lo under pressure now

G/L
Well spotted.
  • #312,943
  • May 14, 2012 3:57am May 14, 2012 3:57am
Quoting Flynchenberg
Well spotted.

I trade futures......therefore my number is 1.6044.......same same same.....as forex spot....just futures price......will see how it is handled......I hear lots of different things tonight......

Faller.
I don't trust any move - when you have profit...take it.
  • #312,944
  • May 14, 2012 3:58am May 14, 2012 3:58am
Quoting Flynchenberg
Well spotted.
Yes thanks - I have an eagle eye especially for the fecking obvious ! The question I was really asking wrapped up and implicit in that statement is will anyone 'sell support' here for a downside break ? But I guess it was too subtle.

G/L
ex member
  • #312,945
  • May 14, 2012 4:06am May 14, 2012 4:06am
Quoting Faller
I trade futures......therefore my number is 1.6044.......same same same.....as forex spot....just futures price......will see how it is handled......I hear lots of different things tonight......

Faller.
I think this beast is making a move to the upside. targets 1.63-1.64
  • #312,946
  • May 14, 2012 4:07am May 14, 2012 4:07am
in my view I think it is super bullish.
  • #312,947
  • May 14, 2012 4:08am May 14, 2012 4:08am
Quoting Faller
I trade futures......therefore my number is 1.6044.......same same same.....as forex spot....just futures price......will see how it is handled......I hear lots of different things tonight......

Faller.
your assumption might have some weight mate.. since cable is still at above the support level and candy at about the high of last week..

i think i will choose to trade loonie rather than cable for the time being..

later my friend, have a nice day.
  • #312,948
  • May 14, 2012 4:14am May 14, 2012 4:14am
as in trade longie, - u said same already ?
  • #312,949
  • May 14, 2012 4:15am May 14, 2012 4:15am
'...6060-53-24 prev minor weekly/Daily sw hi zone (non immed) incl 6058-50 = 3 fib cluster, 6056-50= prev 1hr sw lo zone x 3, 6045-36 = prev 4hr sw lo zone incl 6035 = 50% 5769-6300, and 6034= 38.2% 5601-6300, and Daily S1 =6033 @/around....'

is the current potential support zone also there at 6050 are 2 further fibs of the minor 4hr swings up from 5893 and 6007 to 6300, so actually 4 fibs at the current lo. Proving tough for the bears !

G/L
ex member
  • #312,950
  • May 14, 2012 4:17am May 14, 2012 4:17am
Quoting Vikingbarde
as in trade longie, - u said same already ?

loonie is usd/cad. i thought you know this since you are trading forex.
  • #312,951
  • May 14, 2012 4:17am May 14, 2012 4:17am
Quoting Nachiket
in my view I think it is super bullish.
Well you MAY be right. See a doji on daily this is a point where price is hesitating a bit 1,6050 is a strong support and I am standing aside for today. I wanna see how today daily will look like. H4 is also bullish it may be end of correction move and further rally ahead. When I see doji on the chart especially on daily all alarms in me goes off. Today we will get our answer imo.
Good luck

http://s17.postimage.org/rep1wiezj/cabel.gif
hosting images
swing it!
  • #312,952
  • May 14, 2012 4:22am May 14, 2012 4:22am
Quoting Nachiket
loonie is usd/cad. i thought you know this since you are trading forex.
yeah, would like to see loonie back down to 96xx area if possible.. by then cable should be way up.. currently in full alert mode until loonie can trade below 1.0 sustainably..
  • #312,953
  • May 14, 2012 4:31am May 14, 2012 4:31am
Daily chart

I see a hidden bullish Div considering BC and B'C'
The price is still above my 50 SMA (white)
support @ 1.5986

please comment ...
Attached Image (click to enlarge)
Click to Enlarge Name: chartgbpusd.gif Size: 35 KB
  • #312,954
  • May 14, 2012 4:40am May 14, 2012 4:40am
Does the fact that EUR/GBP is trading just above. 0.8000 have any bearing on Cable?

EUR is a major trading bloc for GBP, and EUR seems to be in free fall because of Greece, Spain, etc. If EUR goes into a complete meltdown, will this drag down GBP and, by extension, GBP/USD?
  • #312,955
  • May 14, 2012 4:42am May 14, 2012 4:42am
Support also around lows from 200ema on 4hr chart and the daily S2. Considering cable has been in an uptrend, trend followers should be looking to enter long here, but as normal for a Monday very sluggish market on cable. Would not be surprised to see today close as a doji. Weekly and monthly pivot around 1.6110. so plan would be to be long over that and look for shorts while below as stops can be small.
Attached Image (click to enlarge)
Click to Enlarge Name: cable.jpg Size: 144 KB
  • #312,956
  • Edited 5:02am May 14, 2012 4:47am | Edited 5:02am
Quoting Flynchenberg
Because of this.


Seb
Good chart. I have the similar WXY count with yours, but imo the wave C of Y could also be a(59841)-b(58178)-c and finished at 6300.

Regards
  • #312,957
  • May 14, 2012 4:49am May 14, 2012 4:49am
Quoting hnbe
Good chart. I have the similar WXY count with yours, but imo the wave C of Y could also be a(5804)-b(59841)-c and finished at 6300.

Regards
elliott wave analysis can give you incorrect results. this is my opinion
  • #312,958
  • May 14, 2012 4:50am May 14, 2012 4:50am
I sell gbp/usd at 1.6066 target 1.6025
will get out at 8:30 am est if price close above 1.6089
let see
  • #312,959
  • May 14, 2012 4:52am May 14, 2012 4:52am
Quoting 16Nov16
Does the fact that EUR/GBP is trading just above. 0.8000 have any bearing on Cable?

EUR is a major trading bloc for GBP, and EUR seems to be in free fall because of Greece, Spain, etc. If EUR goes into a complete meltdown, will this drag down GBP and, by extension, GBP/USD?
Yes cable would be dragged down aswell as every stock market on the planet, should euro collapse you would make safer money being short banking stocks or just selling the euro. But don't plan your trades on huge macro events since they take months to appear.
  • #312,960
  • May 14, 2012 4:56am May 14, 2012 4:56am
Quoting Flatfish
Yes cable would be dragged down aswell as every stock market on the planet, should euro collapse you would make safer money being short banking stocks or just selling the euro. But don't plan your trades on huge macro events since they take months to appear.

UK gilt funds are trading at new lows. this shows the interest in pound and in my opinion it would be stupidity shorting it.
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