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Cable Update (GBPUSD)

  • #313,681
  • May 18, 2012 1:08am May 18, 2012 1:08am
  •  eggs
  • | Joined Nov 2011 | Status: Everybodys A Central Banker Here... | 819 Posts
Quoting Ill-b-back
Hey eggs, yeah I want to diversify. I rabbit on about my system a lot and I have wasted a couple of grand on junk. My swing trading system is price driven coupled with time from what I have observed and brings various timeframes together to create swing points. On the daily TF and above it is very accurate but admittedly at times this year it has shown weakness not seen before, while at other times it had been incredible. I still like it but looking for more regular action.
I almost sent bones a message asking him if he ever wakes up in the morning...

Sounds like your on the right track IBB. In short, that's how I approach every trade. Multiple TF's. I begin analyzing the Weekly, Daily, 4HR > all the way down to a 5M to gain entry. All trades are taken using long term support/resistance/trendlines/ & FIBS.
  • #313,682
  • May 18, 2012 1:10am May 18, 2012 1:10am
bounce back to 1.59-1.6 cannot be ruled out.
  • #313,683
  • May 18, 2012 1:11am May 18, 2012 1:11am
Quoting Nachiket
bounce back to 1.59-1.6 cannot be ruled out.
fall is too sharp from 1.61 to 1.5734. so bounce is justified.
  • #313,684
  • May 18, 2012 1:13am May 18, 2012 1:13am
  •  eggs
  • | Joined Nov 2011 | Status: Everybodys A Central Banker Here... | 819 Posts
Quoting RBlackburn
Ah ok, cool i see that now 2. I don't usually trade swiss so i didn't have it up, thanks dude
No prob. I don't actually trade the pair myself but will use any means necessary to determine the overall value of the USD.
  • #313,685
  • May 18, 2012 1:18am May 18, 2012 1:18am
does it go down more ??????????
i know we eventually will be together
  • #313,686
  • May 18, 2012 1:20am May 18, 2012 1:20am
Quoting smart boy
does it go down more ??????????

today no. sometime next week probably. bounce should come.
  • #313,687
  • May 18, 2012 1:21am May 18, 2012 1:21am
damn, no bounce ...where to go ??
  • #313,688
  • May 18, 2012 1:29am May 18, 2012 1:29am
Quoting Nachiket
fall is too sharp from 1.61 to 1.5734. so bounce is justified.
i did warn about a retracement is due... might be happening on a FRIDAY London open..... who knows....
but all i know is that if this BEAR trend were to continue successfully a retracement is needed....
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #313,689
  • May 18, 2012 1:32am May 18, 2012 1:32am
Does this chart look interesting??

remember why i said to watch out break of 1.59 next one will be 1.5750?? well heres why....
Trendline Support seen at 1.5750 if we manage to close back above that 50% fib, that is seen as a Daily Rejection on the 50% fibo and that should encourage a pullback
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdh1.18052012.0730.gif Size: 9 KB
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #313,690
  • May 18, 2012 1:33am May 18, 2012 1:33am
Quoting Mr.4season
damn, no bounce ...where to go ??

it will.
  • #313,691
  • May 18, 2012 1:33am May 18, 2012 1:33am
so there's no way to buy around this points
i know we eventually will be together
  • #313,692
  • May 18, 2012 1:34am May 18, 2012 1:34am
Quoting smart boy
so there's no way to buy around this points
Never.... You should be looking for a SELL on pullback....
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #313,693
  • May 18, 2012 1:35am May 18, 2012 1:35am
Quoting bguguen
Does this chart look interesting??

remember why i said to watch out break of 1.59 next one will be 1.5750?? well heres why....
Trendline Support seen at 1.5750 if we manage to close back above that 50% fib, that is seen as a Daily Rejection on the 50% fibo and that should encourage a pullback
Attachment
pullback2 higher, so i can sell again thx and good luck
  • #313,694
  • May 18, 2012 1:36am May 18, 2012 1:36am
maybe retracement not happen today, price still want diving maybe next week or one day
  • #313,695
  • May 18, 2012 1:36am May 18, 2012 1:36am
Quoting bguguen
Never.... You should be looking for a SELL on pullback....
agreed. if you want to buy keep a tight stoploss of 20 pips.
  • #313,696
  • May 18, 2012 1:38am May 18, 2012 1:38am
Wait for next Tuesday when some critical data will be revealed:

10:30 CPI y/y
10:30 Public Sector Net Borrowing
10:30 RPI y/y
10:30 BOE Inflation Letter

I would say that GBP will fell due to high CPI due to monetizing their debt thrue bond repurchasing. Be ready to take some pips trading this news.
  • #313,697
  • May 18, 2012 1:40am May 18, 2012 1:40am
Quoting Nachiket
agreed. if you want to buy keep a tight stoploss of 20 pips.
falls are very steep. 1.5760 to 1.5742 in no time at all.
  • #313,698
  • May 18, 2012 1:40am May 18, 2012 1:40am
Quoting bguguen
i did warn about a retracement is due... might be happening on a FRIDAY London open..... who knows....
but all i know is that if this BEAR trend were to continue successfully a retracement is needed....
it doesn't necessary need retracement mate.. it proven before, even the run from 5900-6300 has no retracement.. well, retracement is good since we are looking for a higher price to short it back, but there might not be a retracement.. or not a significant retracement..

whatever it is, just sell the pullback.. lol.

i wonder how navin's doing, since we're connected here and i can say that we are all friends here, i hope he's doing ok..
  • #313,699
  • May 18, 2012 1:45am May 18, 2012 1:45am
Quoting A-speculator
it doesn't necessary need retracement mate.. it proven before, even the run from 5900-6300 has no retracement.. well, retracement is good since we are looking for a higher price to short it back, but there might not be a retracement.. or not a significant retracement..

whatever it is, just sell the pullback.. lol.

i wonder how navin's doing, since we're connected here and i can say that we are all friends here, i hope he's doing ok..
5900-6300 is fine... but 5200-6300 had atleast 1 retracement dude.... thats why it could run all the way up....
Every move has a retracement, problem with a move we seen in GBPUSD if it pushes too far to the extremes like 5900-6300 without retracement, you can see when it reverses, the flow is much larger... simply because momentum gets built up and when this momentum unleashes you would wish that there were retracement to prevent such a beast reversing momentum....
as bear.... i actually want GBPUSD to retrace 100 or so pip, to offload any bullish momentum that could've been building up, giving bears a better chance to continue down....

But then again... what the fuck do i know....
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #313,700
  • May 18, 2012 1:50am May 18, 2012 1:50am
Quoting bguguen
5900-6300 is fine... but 5200-6300 had atleast 1 retracement dude.... thats why it could run all the way up....
Every move has a retracement, problem with a move we seen in GBPUSD if it pushes too far to the extremes like 5900-6300 without retracement, you can see when it reverses, the flow is much larger... simply because momentum gets built up and when this momentum unleashes you would wish that there were retracement to prevent such a beast reversing momentum....
as bear.... i actually want GBPUSD to retrace 100 or so pip, to offload any bullish...
in my point of view, i would like to short it at 5900 support turned resistance. but for that far move up to happen, we should get retracement candle on daily and atm there's no candle telling us anything of movement that far.. so the lower resistance would be 5800 and i think that might be possible..
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