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Cable Update (GBPUSD)

  • #317,121
  • Jun 21, 2012 10:36am Jun 21, 2012 10:36am
Quoting Niranj
Good point to long GBP/USD

Strong resitance at 1.5600 level.

Entering Long -1.5610
Tight Stop Loss- 1.5688

Tp- 1.5680
I'd target maybe half that. Don't think we'll see > 5640 at this point.
  • #317,122
  • Jun 21, 2012 10:59am Jun 21, 2012 10:59am
http://www.forexfactory.com/attachme...1&d=1340074814
Quoting iqyu5an
http://www.trade-forex-harmonic-patt...hark-bu-be.gif
http://www.trade-forex-harmonic-patt...bat-pic500.jpg
http://www.trade-forex-harmonic-patt...%20pattern.gif
http://www.trade-forex-harmonic-patt...fly-pic500.jpg
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not euphoria follower
  • #317,123
  • Jun 21, 2012 11:18am Jun 21, 2012 11:18am
Quoting eggs
Interesting take on the USD INDEX there Bio. However. If there's anywhere on the Daily chart I would look for support its right here at the 10000 number. It's been an extremely pivotal area in the past year acting as resistance 5 times in the past year alone. Until May of this year the level has held. Price has now returned here.

Although this area might not hold over a longer term outlook we should at the very least see the market reacting noticeably here.
It seems the possibility of free fall became a catapult lol
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  • #317,124
  • Jun 21, 2012 11:26am Jun 21, 2012 11:26am
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  • #317,125
  • Jun 21, 2012 12:22pm Jun 21, 2012 12:22pm
Let see...
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  • #317,126
  • Jun 21, 2012 12:29pm Jun 21, 2012 12:29pm
  •  eggs
  • | Joined Nov 2011 | Status: Everybodys A Central Banker Here... | 819 Posts
Quoting BioFX
It seems the possibility of free fall became a catapult lol
Yup. I believe some fundamentals had a little bit to do with that one Bio. But I had a feeling that level would at least get a bounce of some sort based on technicals alone. On another note, that scenario was a good example of how those event areas on your chart play out one of two ways. You either get a nice bounce & the levels are respected OR you'll get a consolidation period before the free fall. Cheers.
  • #317,127
  • Jun 21, 2012 12:32pm Jun 21, 2012 12:32pm
Quoting eggs
Yup. I believe some fundamentals had a little bit to do with that one Bio. But I had a feeling that level would at least get a bounce of some sort based on technicals alone. On another note, that scenario was a good example of how those event areas on your chart play out one of two ways. You either get a nice bounce & the levels are respected OR you'll get a consolidation period before the free fall. Cheers.
Moody's downgrade tonight after midnigh.

the market is pretty much priced for that so I opened the last long GU @ 1.5580 TP 1.5800 SL 1.5470
  • #317,128
  • Jun 21, 2012 12:34pm Jun 21, 2012 12:34pm
  •  eggs
  • | Joined Nov 2011 | Status: Everybodys A Central Banker Here... | 819 Posts
Quoting redbeben
Moody's downgrade tonight after midnigh.

the market is pretty much priced for that so I opened the last long GU @ 1.5580 TP 1.5800 SL 1.5470
downgrading GB redbeben?
  • #317,129
  • Jun 21, 2012 12:54pm Jun 21, 2012 12:54pm
Quoting eggs
downgrading GB redbeben?
18 banks including UK ones....so not only it will effect GU but EU as well....and as we can see price dropped due to this.

IMHO market is priced for this already but it depends on the ratings....if they say junk all longs are screwed.
if they only downgrade one notch then we should be fine.

I hate them anyway
  • #317,130
  • Jun 21, 2012 1:34pm Jun 21, 2012 1:34pm
ok guys.
TECHNICALLY SPEAKING.... actually i see no reasons to look for a long position, (scalps excluded)
give an eye @daily chart.
let's forget for 1 second the thiny dotted channel: daily pivot will update near previous lows so meaning 5620-40 pip more pip less.

hourly chart is even more clear: if price goes up, will have to fight with a lot of bears.

i will be looking to open shorts few pips above here or around here if price gives no signs of recover. only a strong breaking above this daily pivot and price using it as support will let me change my mind and try a shoot to 57area.

if things worsen, first target will be 5480 (just few pips aboe 61% fib of this strange up-move)
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Attached Image
90% of traders use TA, indicators and prediction
  • #317,131
  • Jun 21, 2012 1:39pm Jun 21, 2012 1:39pm
Quoting eggs
downgrading GB redbeben?
You got your perfect H&S you predicted thanks to good GB sales data eggs.
Now please accept my for Pete's sake
Come with me if you want to live....
  • #317,132
  • Jun 21, 2012 1:44pm Jun 21, 2012 1:44pm
Quoting _BBKing_
ok guys.
TECHNICALLY SPEAKING.... actually i see no reasons to look for a long position, (scalps excluded)
give an eye @daily chart.
let's forget for 1 second the thiny dotted channel: daily pivot will update near previous lows so meaning 5620-40 pip more pip less.

hourly chart is even more clear: if price goes up, will have to fight with a lot of bears.

i will be looking to open shorts few pips above here or around here if price gives no signs of recover. only a strong breaking above this daily pivot and price using it as support...
I don't really think its strange BB, we rose too far too fast against Mays bearish monthly candle, a correction is due.
Watch 5520 area, it's a corka!
Come with me if you want to live....
  • #317,133
  • Jun 21, 2012 1:47pm Jun 21, 2012 1:47pm
Quoting _BBKing_
ok guys.
TECHNICALLY SPEAKING.... actually i see no reasons to look for a long position, (scalps excluded)
give an eye @daily chart.
let's forget for 1 second the thiny dotted channel: daily pivot will update near previous lows so meaning 5620-40 pip more pip less.

hourly chart is even more clear: if price goes up, will have to fight with a lot of bears.

i will be looking to open shorts few pips above here or around here if price gives no signs of recover. only a strong breaking above this daily pivot and price using it as support will...
also possible, beign cautious, to wait a strong breaking down into previous range 5460-5570.
i admit that must not totally exclude a total insane V turn up to destroy some orders.

market is strange these days, i will be careful with lot size..
90% of traders use TA, indicators and prediction
  • #317,134
  • Jun 21, 2012 1:50pm Jun 21, 2012 1:50pm
Quoting Ill-b-back
I don't really think its strange BB, we rose too far too fast against Mays bearish monthly candle, a correction is due.
Watch 5520 area, it's a corka!
ok, a correction is welcome, but such a kind of drift in supply area, with strong moves down and immediate pullbacks (yesterday) etc... is not seen very often.

only a strong pullback now ahead of previous top range area can give more interest for bulls.

IMO, bull orders were near 5600 and went already closed. next station is 150 pips below here, next week, other story....

let's see
90% of traders use TA, indicators and prediction
  • #317,135
  • Jun 21, 2012 2:02pm Jun 21, 2012 2:02pm
Quoting _BBKing_
ok, a correction is welcome, but such a kind of drift in supply area, with strong moves down and immediate pullbacks (yesterday) etc... is not seen very often.

only a strong pullback now ahead of previous top range area can give more interest for bulls.

IMO, bull orders were near 5600 and went already closed. next station is 150 pips below here, next week, other story....

let's see
Market IS very strange these days I agree BB
After watching the bullish V turns earlier this year until 63, nothing at all would surprise me.
We are living in extreme financial times, (crisis, bailout, crisis, bailout ) - ( Bear, Bull, Bear, Bull).
Come with me if you want to live....
  • #317,136
  • Jun 21, 2012 2:03pm Jun 21, 2012 2:03pm
Quoting _BBKing_
also possible, beign cautious, to wait a strong breaking down into previous range 5460-5570.
i admit that must not totally exclude a total insane V turn up to destroy some orders.

market is strange these days, i will be careful with lot size..
nein nein nein nein

don't say that pliiizzz plizzzzzz

actually it would help me slide some more so I can load some more...

but enough nonsense from my side now and dreams

on daily I see RSI on 50 line so it can bounce like hell now.

H4 cloud supports the price now ....if we go back up we won't stop till we hit 1.5800 and to be honest the way it looks it should happen either next week or first 2 days of other week.

then we either go low and f*** the whole calculation of 1.6280 thing or we go to that TP

so....SL in place I'll leave it simmer for a while.

I have 1.3 lots loaded on longs since 1.5618 and it gives me a 2-1 RR

1.5750 as a min for now on the way up.


clouds still formin but the M15 one gives me a nice view

look at the shape of the cloud...look closer...picture blue line crossed with the red one(that's gonna happen) then price going up to pierce the green cloud where it's thinnest

now look at daily chart ..got it ?

but M15 is not gonna give us any good entry as H1 is not formed yet so I cannot calculate the exact end of the up move yet

the clouds tell the future but not that fast.

as soon as we cross the blue and red line on M15 we have the first confirmation

second one is a close above 1.5655 line in order to see 1.5750 as a min
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  • #317,137
  • Jun 21, 2012 2:29pm Jun 21, 2012 2:29pm
Quoting redbeben
nein nein nein nein

don't say that pliiizzz plizzzzzz

actually it would help me slide some more so I can load some more...

but enough nonsense from my side now and dreams

on daily I see RSI on 50 line so it can bounce like hell now.

H4 cloud supports the price now ....if we go back up we won't stop till we hit 1.5800 and to be honest the way it looks it should happen either next week or first 2 days of other week.

then we either go low and f*** the whole calculation of 1.6280 thing or we go to that TP

so....SL in place I'll...

ok everything true! but please don't deny the evidence:
price found strong reject @midpoint (50 fib) in daily (the main move down).
and look at momentum (momentum i mean TLs):
blue one is the textbook for a rise.. price lost it very clearly today. only red one now few pips below here. but a line is a line, you know.

what i mean is: this is not the kind of bullish move i want to see to imagine price above 5700 anytime soon!!

everything can happen, and also a total insanity opposite daily candle to close @5780 within 24 hours but hell.... we'll have the time to get the move if price stable above 5640 in Ny session. until that... market will short first rally near 5620 IMO
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90% of traders use TA, indicators and prediction
  • #317,138
  • Jun 21, 2012 2:34pm Jun 21, 2012 2:34pm
went long on GOld for 30 usd...I hope
  • #317,139
  • Jun 21, 2012 2:38pm Jun 21, 2012 2:38pm
  •  eggs
  • | Joined Nov 2011 | Status: Everybodys A Central Banker Here... | 819 Posts
Quoting Ill-b-back
You got your perfect H&S you predicted thanks to good GB sales data eggs.
Now please accept my for Pete's sake
OK. OK. You win. I Diiiiid call the Head & Shoulders pattern there. So I will accept your ( ). Thanks Ibb
  • #317,140
  • Jun 21, 2012 2:40pm Jun 21, 2012 2:40pm
Quoting _BBKing_
ok everything true! but please don't deny the evidence:
price found strong reject @midpoint (50 fib) in daily (the main move down).
and look at momentum (momentum i mean TLs):
blue one is the textbook for a rise.. price lost it very clearly today. only red one now few pips below here. but a line is a line, you know.

what i mean is: this is not the kind of bullish move i want to see to imagine price above 5700 anytime soon!!

everything can happen, and also a total insanity opposite daily candle to close @5780 within 24 hours but hell.......
true but not 24 h

if we don't bounce hard we will only see 1.5675-5695 in the next 25 hours....and if we pierce the 1.5677 after those 25 h we're good to climb.

this on H1

on M15 I see 1.5655 in the next 2-3 hours....but in the next 2-3 hours we'll have the Moody's so I don't trust it....even if blue and red about to give a buy confirmation.

I will stick to the initial plan of 1.5784-1.5962 for next week or first 2 days of other week
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