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Cable Update (GBPUSD)

  • #313,961
  • May 19, 2012 11:36pm May 19, 2012 11:36pm
Quoting tunera
From wikipedia:
VIX is a trademarked ticker symbol for the Chicago Board Options Exchange Market Volatility Index, a popular measure of the implied volatility of S&P 500 index options. Often referred to as the fear index or the fear gauge, it represents one measure of the market's expectation of stock market volatility over the next 30 day period.

Basically, it is a leading indicator of the volatility (in%) that is to be expected in the stock indexes (mainly in s&p500, but they all are somehow...
Ah ha, interesting thanks I never realised we had these tools to help us, thx again.
Come with me if you want to live....
  • #313,962
  • May 20, 2012 1:11am May 20, 2012 1:11am
Quoting Ill-b-back
Ah ha, interesting thanks I never realised we had these tools to help us, thx again.
imho VIX has more or less reverse correlation with DJX or SPX.
  • #313,963
  • May 20, 2012 5:56am May 20, 2012 5:56am
I do agree tls can be unreliable ,mines a Q perfect touch ,just a thought
"Tyson"


Quoting pkimnyc
i don't think that tl is correct. when dealing with consolidation, i would just focus on consolidation highs and lows. just a thought.

anywayz... it's the horizontals that are important to me though, not much the tl.
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #313,964
  • May 20, 2012 7:23am May 20, 2012 7:23am
Quoting A-speculator
imho VIX has more or less reverse correlation with DJX or SPX.
Ok great thanks a lot Specs.
I'll also be watching for price reactions off any of these lines esp in confluence wih fibs.
Cheers mate
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Come with me if you want to live....
  • #313,965
  • May 20, 2012 7:32am May 20, 2012 7:32am
Ya'll should just close your damn charts and enjoy life besides
  • #313,966
  • May 20, 2012 7:50am May 20, 2012 7:50am
Now pk my tl better than yours ? stronger ? note last months low been taken already


Quoting pkimnyc
i don't think that tl is correct. when dealing with consolidation, i would just focus on consolidation highs and lows. just a thought.

anywayz... it's the horizontals that are important to me though, not much the tl.
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #313,967
  • May 20, 2012 7:52am May 20, 2012 7:52am
Quoting belekas
Ya'll should just close your damn charts and enjoy life besides
Nah, I'm addicted
I'm watching this also.
10.50pm, time for bed zzzzzzzzzzz
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  • #313,968
  • May 20, 2012 7:56am May 20, 2012 7:56am
Quoting Bones
Now pk my tl better than yours ? stronger ? note last months low been taken already
But seriously bones, if you look at the monthly candles for the last quarter of 2011, it's incredible we rose at all this year.
I still think something up this next quarter and this just be a retrace after 4 bullish months
Come with me if you want to live....
  • #313,969
  • May 20, 2012 8:00am May 20, 2012 8:00am
last 4 bullish months are pull back ,look at lower wicks to them ,the trend not strong ,consolidation area ,price can change and move swift ,but now this month direction is shown
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #313,970
  • May 20, 2012 8:01am May 20, 2012 8:01am
Quoting Bones
Now pk my tl better than yours ? stronger ? note last months low been taken already
agree with chart u have there..and the monthly is bearish, dailly pin if triggers i reckon we may see the top again..at least i hope so..

there i will likely sell..and get the hell out of this trade!!
(i reckon tone this support we are sitting on may hold..if it doesnt, i agree with yur take on it)
great analysis as always.
  • #313,971
  • May 20, 2012 8:31am May 20, 2012 8:31am
Quoting nAVIN2007
agree with chart u have there..and the monthly is bearish, dailly pin if triggers i reckon we may see the top again..at least i hope so..

there i will likely sell..and get the hell out of this trade!!
(i reckon tone this support we are sitting on may hold..if it doesnt, i agree with yur take on it)
great analysis as always.
actually mate, the two support (currently act as resistance) that has turned the bias back down has been broken.. at current price, seems like unlikely the price will get back to the high (6300). The two s&r level are 6060-6000 (considered as one since close to each other) & 5900.

Next week, i'm expecting more movement on fiber which will drive EG up compared to cable..
  • #313,972
  • May 20, 2012 9:05am May 20, 2012 9:05am
A Down trend is only formed when a series of down candles are formed(where price close below the open of the bar) and vice verse for Uptrend.
Here,are the two opportunities which i anticipate.Last weekly bar has moved 300 pips(i.e., from 1.61 to 1.58).
so,
1)If price likes to go in downward direction this week then it has retrace less than 33% of previous week bar(less than 1.9).
2)Price has to retrace with 50% retrace of previous week(1.95).

so,we have resistance at 1.9 and also at 1.95.
I am a hunter...i kill both bulls and bears...
  • #313,973
  • May 20, 2012 9:06am May 20, 2012 9:06am
Quoting A-speculator
actually mate, the two support (currently act as resistance) that has turned the bias back down has been broken.. at current price, seems like unlikely the price will get back to the high (6300). The two s&r level are 6060-6000 (considered as one since close to each other) & 5900.

Next week, i'm expecting more movement on fiber which will drive EG up compared to cable..


if u look at the chart i have posted one can say it possible this a a test of the bottom of the range..i agree tony probably spot on but its possible it may build at this point if it cant break last week low..a pin on dailly at this point is a good thing especially if it triggers
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  • #313,974
  • May 20, 2012 9:10am May 20, 2012 9:10am
Retail are neutral on pound,so like many here would expect no real direction on the pound and think euro a better play next week. But one interesting chart is aud/jpy. The retailers have been long this the entire fall. Am expecting them to start turning bearish, so will be looking for a long entry. Lets see who will be right this time the punters or the banks.
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  • #313,975
  • May 20, 2012 9:12am May 20, 2012 9:12am
Quoting nAVIN2007
.
i see you're using your entry as resistance eh mate.. lol.

just joking.

i think there will be pullback, due to corrections on the USD indices thus we will also find correction in usd crosses, assuming only correction in play, i'm not expecting a significant movement in the other direction..

this assumption is also taking into consideration the momentum to the downside we have this week.. unless we see significant movement up, then only i think maybe your assumption will be possible..
  • #313,976
  • May 20, 2012 9:21am May 20, 2012 9:21am
Quoting A-speculator
i see you're using your entry as resistance eh mate.. lol.

just joking.

i think there will be pullback, due to corrections on the USD indices thus we will also find correction in usd crosses, assuming only correction in play, i'm not expecting a significant movement in the other direction..

this assumption is also taking into consideration the momentum to the downside we have this week.. unless we see significant movement up, then only i think maybe your assumption will be possible..
what im positing i realise it looks like wishfull thinking however its an observation of price and how i see it behaves..watch it..if it cant break the low..the next touch on the line will break the top..

this is why tony says if the pin fails..i know where it going!! he knows

the movement is impt through the impt area..and i reckon this is at that impt area(bottom of range)..the pin breaking to the downside is on the watch list..
  • #313,977
  • May 20, 2012 9:24am May 20, 2012 9:24am
Nice to see everyone's charts.

So,most of our hindsight is downward.

Lets see what happens 2morow.I think we can short cable until we get a clear news on Greece and other countries.

Nice to hear your hindsight and if our hindsight is correct then i will have my 10 more legs this week which will be added to my previous 7 legs.

I also have same bias for GBP/JPY

Happy pippin.
I am a hunter...i kill both bulls and bears...
  • #313,978
  • May 20, 2012 9:27am May 20, 2012 9:27am
Quoting nAVIN2007
what im positing i realise it looks like wishfull thinking however its an observation of price and how i see it behaves..watch it..if it cant break the low..the next touch on the line will break the top..

this is why tony says if the pin fails..i know where it going!! he knows

the movement is impt through the impt area..and i reckon this is at that impt area(bottom of range)..the pin breaking to the downside is on the watch list..
talking about range, i think the price will play between 23 and 50 fibo area monthly, and retracement if happens next might contained by the 38 fibo about 1.6 area..
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  • #313,979
  • May 20, 2012 9:30am May 20, 2012 9:30am
Quoting A-speculator
talking about range, i think the price will play between 23 and 50 fibo area monthly, and retracement if happens next might contained by the 38 fibo about 1.6 area..
fibo with confluences from first movement to the upside..
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  • #313,980
  • May 20, 2012 9:31am May 20, 2012 9:31am
pada tolol lo semua
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