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GBP/USD outlook

  • #21
  • May 15, 2012 3:31pm May 15, 2012 3:31pm
2 very simple charts.
Daily and weekly.
Daily shows some current 55ema support which I think will give way and head to 59 area where there is a strong daily reaction candle in red area and very good resistance turning support in the blue area

Weekly shows very good confluence with 1.59 area/38.2 fib, 200sma and 55 ema coming together for lunch.
How nice...
Lets see if price will join them for an orgy
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  • #22
  • May 15, 2012 4:01pm May 15, 2012 4:01pm
Quoting diceman555
were not to far away from are thoughts on cable,159 as you suggest is the lower channel level on my daily.which i also expect to see,

im intraday and presently got long on cable as it seems to want to retest top channel on my daily 16150 ish,

yes my trading is going very well thanks,i trade p/a ,point to point.

good trading
Hi Diceman,
I'm very sorry I completely missed your post, got too caught up in my own market outlook and ramblings.
I wish I could day trade on a regular basis, I usually swing trade the daily and sometimes 4hr based on a system but am looking to develop some day trading skills. Living in Aust and working Fulltime makes this difficult but am looking to plan trades based on weekly and monthly outlooks. I think it can work but will need time and practice.
Take care
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  • #23
  • May 15, 2012 7:59pm May 15, 2012 7:59pm
Quoting Ill-b-back
An interesting read
http://www.uncommonwisdomdaily.com/t...14207?FIELD9=3
$5000/ounce Gold
sweeeeet!!!!!
I see the logic
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  • #24
  • May 15, 2012 11:56pm May 15, 2012 11:56pm
hi ,no probs

i guess youve made some pips so far on this drop down to 15950,although i was also anticipating this fall this week,i havnt managed to capture none as i only made 1 scalp early yesterday and that was in the wrong direction.then took the day off.

price has broken my daily channel line so more longer term downside,

regards
  • #25
  • May 16, 2012 12:54am May 16, 2012 12:54am
Quoting diceman555
hi ,no probs

i guess youve made some pips so far on this drop down to 15950,although i was also anticipating this fall this week,i havnt managed to capture none as i only made 1 scalp early yesterday and that was in the wrong direction.then took the day off.

price has broken my daily channel line so more longer term downside,

regards

Hi Dice, sorry to hear that. I think I'll be holding my shorts until 5870 or so. There is very strong support there and in light of recent PA, I think it will get there. I'll be adding in on any bullish retracements (if we get one, lol). If I get a bullish system signal, then i think we are in for a big ride back upto 63
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  • #26
  • May 16, 2012 1:12am May 16, 2012 1:12am
Quoting Ill-b-back
Hi Dice, sorry to hear that. I think I'll be holding my shorts until 5870 or so. There is very strong support there and in light of recent PA, I think it will get there. I'll be adding in on any bullish retracements (if we get one, lol). If I get a bullish system signal, then i think we are in for a big ride back upto 63
Sorry, I meant holding shorts until 5825 or so
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  • #27
  • May 16, 2012 3:03am May 16, 2012 3:03am
Quoting Ill-b-back
Sorry, I meant holding shorts until 5825 or so
At least
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  • #28
  • May 16, 2012 3:12am May 16, 2012 3:12am
Now have my eye on daily 100sma at 5818 or so, good support and 50 fib
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  • #29
  • May 16, 2012 3:28am May 16, 2012 3:28am
I know it is only Wed, but looking forward to next week, I am looking for a weekly close above the weekly 200sma/55ema 38.2 fib confluence at the 59 area, otherwise it could be curtains for the pound
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  • #30
  • May 16, 2012 6:14am May 16, 2012 6:14am
It's an election year and I see more stimulus coming and we know what that means The question is WHEN!
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  • #31
  • May 16, 2012 6:16am May 16, 2012 6:16am
Quoting Ill-b-back
At least
Hmm, maybe, maybe not. Waiting for the daily close before making next move
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  • #32
  • May 16, 2012 12:20pm May 16, 2012 12:20pm
Well I must say, well done USD, that's what I call catching a cable knife. Now let's see if you can hold onto it
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  • #33
  • May 16, 2012 1:31pm May 16, 2012 1:31pm
this is my daily chart,perfect bounce off this long term channel line,15884.

if we dont get a reasonble bounce up to 160 this thing could sink to 154.

certainly looking to scalp some from this present level.

having said that its a freefall across the board at the moment.the only good thing for me is ive been shorting the ftse100 since 160 level,looking for 15150.
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  • #34
  • May 16, 2012 1:39pm May 16, 2012 1:39pm
sorry typo,fts100 60 level and looking for 5150 to exit
  • #35
  • May 16, 2012 2:08pm May 16, 2012 2:08pm
Quoting Ill-b-back
2 very simple charts.
Daily and weekly.
Daily shows some current 55ema support which I think will give way and head to 59 area where there is a strong daily reaction candle in red area and very good resistance turning support in the blue area

Weekly shows very good confluence with 1.59 area/38.2 fib, 200sma and 55 ema coming together for lunch.
How nice...
Lets see if price will join them for an orgy
We might come back to retest that Daily 55ema at the 5990 level, well see what London holds for us.
Come with me if you want to live....
  • #36
  • May 16, 2012 2:19pm May 16, 2012 2:19pm
Quoting diceman555
this is my daily chart,perfect bounce off this long term channel line,15884.

if we dont get a reasonble bounce up to 160 this thing could sink to 154.

certainly looking to scalp some from this present level.

having said that its a freefall across the board at the moment.the only good thing for me is ive been shorting the ftse100 since 160 level,looking for 15150.
Nice one Dice,
I think a move upto the broken TL or daily 55ema is possibly on. I'm not convinced at this stage we are in for a big drop to early year levels. I see buying pressure where we are. Depending on the daily close, we could move to the 50 fib at 5818 or so but would love to see us close above 59 on Friday this week. I think this week is crucial to future outlook.
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  • #37
  • May 16, 2012 2:35pm May 16, 2012 2:35pm
Quoting Ill-b-back
Nice one Dice,
I think a move upto the broken TL or daily 55ema is possibly on. I'm not convinced at this stage we are in for a big drop to early year levels. I see buying pressure where we are. Depending on the daily close, we could move to the 50 fib at 5818 or so but would love to see us close above 59 on Friday this week. I think this week is crucial to future outlook.
yes its quite exiting and also very unpredictable which way this all goes,generally with the euro is in total disaray,one would expect cable to be drawn down with the euro,but the pound could infact go much higher as it may well be concidered somwhat safer
.but personaly i believe if the greece problem worsens and we see bank collapses,then the 08 crisis we look like a sunday afternoon picnic that got spoiled because it rained.the intertwined derivitives ect undersigned through uk banks will see far worse concequences than in 08.

not trying to be pesimistic but the euro nuts have made a f......up on this from day 1.

certainly we wont be complaining from lack of volitility.maybe we should look to trade the vics..................
  • #38
  • May 16, 2012 3:03pm May 16, 2012 3:03pm
Quoting diceman555
yes its quite exiting and also very unpredictable which way this all goes,generally with the euro is in total disaray,one would expect cable to be drawn down with the euro,but the pound could infact go much higher as it may well be concidered somwhat safer
.but personaly i believe if the greece problem worsens and we see bank collapses,then the 08 crisis we look like a sunday afternoon picnic that got spoiled because it rained.the intertwined derivitives ect undersigned through uk banks will see far worse concequences than in 08.

not trying...
LoL, yeah no more complaints about volatility for sure. I totally agree about the 08 perspective 100 percent and that's precisely why I don't think it will happen (YET). It scares the shit out of everyone. We are not just talking about institutions anymore, but countries. Europe is crucial and drastic times call for drastic action. I think 08 gave them warning signs and they will crank up the printing presses around the globe including the US. Govts have bought into Europe, institutions who the US fed bailed out and now take their losses onto their own balance sheet are invested in the same car in Europe so it just doesnt make sense that they will let it fall. But anyway, I'm getting ahead of myself and a little off topic (but not much). This is just my fundie take on things from uncommon wisdom and Weiss. They are very, very good fundamentally. Cheers mate.
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  • #39
  • May 16, 2012 3:34pm May 16, 2012 3:34pm
Quoting Ill-b-back
We might come back to retest that Daily 55ema at the 5990 level, well see what London holds for us.
Edit: 5980 level, but would wait for the triangle breakout.
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  • #40
  • May 16, 2012 4:07pm May 16, 2012 4:07pm
Well, we reached the weekly 200sma/55ema/38.2 fib confluence area. I see good confluence with 23 fib retrace, previous resistance bar (in red), daily and 1 hr 55ema's.

I may put in a small buy order just as a test to 5980.
Late for work.
See ya.
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