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Cable Update (GBPUSD)

  • #318,341
  • Jul 7, 2012 9:51am Jul 7, 2012 9:51am
Quoting inpatient
The root cause of the worlds problems is greed and people being pressured to live beyond their means, particularly in the western world.

The Euro is simply paper used by people

and it isnt like this where?
  • #318,342
  • Jul 7, 2012 10:03am Jul 7, 2012 10:03am
Quoting nAVIN2007
and it isnt like this where?
dunno why but only this came up in my mind...

Inserted Video
Don't get mad, get even!
  • #318,343
  • Jul 7, 2012 10:10am Jul 7, 2012 10:10am
With such inconsistent data i am as follows -

I have 2 long orders at 1.563 and 1.5525 sitting negative over 1000 pounds as of now.


I have 2 pending sell orders at 1.551 and 1.552 (hoping to even up the balance of my 2 buy trades that are open.

I have enough equity in my account to ride down from where we are to the low 1.53 areas (without triggering the sells). So i am not overly concerned. I also if needed could credit my account further so i have zero risk of any margin call.

My question over the weekend though is to set the sell orders higher or lower or just stay with my original plan.

It seems the data is generally pointing lower but will we see a small spike upward first when the markets open?

Would appreciate some advice from some of the more technically minded members. It seems we are maybe 60-40 in favour of the south side over at least the first half of next weeks trading?
Money never sleeps...
  • #318,344
  • Jul 7, 2012 10:20am Jul 7, 2012 10:20am
Quoting nAVIN2007
and it isnt like this where?
pretty much everywhere but particularly in the west. I spent alot of time in Thailand and other parts of south east asia and the people there i think would be just content with the basics.
Money never sleeps...
  • #318,345
  • Jul 7, 2012 10:23am Jul 7, 2012 10:23am
76% of 20 day atr covererd by price on Friday, 102% of 20 week atr this week just closed and so far this month - 42% of 20 month atr. Price breeched the ascending daily trend line to the downside and re-tested it from that underside see-ing a further leg down as it (along with other factors) acted as resistance. Friday's/the week's low comes at a previous daily/4hr swing lo zone confluence with 61.8% 5267-5776 and 85.4% 5402-5776.

The weekly t/f remains in an opa (overall price action-fractal price swing hi/lo analysis) range with a bearish candle closing and confirming the HL on this t/f at 5776.

Friday's daily candle closed bearish but with an equal size wick at both ends- spinning top type candle . Friday's/the week's 5660 Lo comes at a 2nd LL although this is not a fractal swing yet on this t/f. This t/f too remains in an opa range although looking more bearish than bullish, Friday being the 3rd consecutive down day.

4Hr is in a general opa downtrend now with 3 x LH's and a 2nd LL at Friday's/the week's 5660 Lo.

The Current Daily chart is below and the fibs mentioned above are from the moves marked as a and b to point c.

G/L
Attached Image (click to enlarge)
Click to Enlarge Name: z.jpg Size: 122 KB
ex member
  • #318,346
  • Jul 7, 2012 10:47am Jul 7, 2012 10:47am
cable is bearish tho on support here ,im selling rallies under 1.57
Attached Image (click to enlarge)
Click to Enlarge Name: gbp usd w1 7-7 -12.png Size: 27 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #318,347
  • Jul 7, 2012 10:55am Jul 7, 2012 10:55am
on support could see time next week to position higher most prob


Quoting Bones
I do think we are still on support ,also 2 x doji not hugley bullish but im thinking not bearish

If daily prints positive candle next
Attached Image (click to enlarge)
Click to Enlarge Name: gbp usd d1 7-7-12.png Size: 30 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #318,348
  • Jul 7, 2012 11:06am Jul 7, 2012 11:06am
Quoting Bones
on support could see time next week to position higher most prob

i personally think tony its in a box range setup on monthly..i will try post a chart a bit later..my damn pc isnt functioning to well..lol

hope u all good m8
  • #318,349
  • Edited 1:01pm Jul 7, 2012 12:45pm | Edited 1:01pm
Id be shorting the Pound double the lot i used to trade if it gets up to 1.58...
That Daily EMA200 is perfect place to short for a nice 200-300 pip profit...
Right now it sure looks delicious!

BTW talk about conspiracy theory... looks like the Libor Rate scandal is much bigger than anyone here anticipated...
http://www.washingtonsblog.com/2012/...ar-market.html

BTW someone asked why big boys would push market to hunt for stops.... if it costed them
well bankers can manipulate interest rates for free just to move the currency market as they like, just because they were allowed for so long...
The "Big Boy" have been manipulating world interest rates on a daily basis since 2005... hmmm i wonder if thats what i have been saying about how GBPUSD have been so heavily manipulated....
BTW manipulating an instrument as important as the interest rate of all monetary policy.... Interest rate manipulation, manipulates the amount of foreign money flowing around "Hot Money"
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #318,350
  • Jul 7, 2012 12:52pm Jul 7, 2012 12:52pm
Quoting Bones
on support could see time next week to position higher most prob
Yo tony.... look at this... have we missed the train down south??
if this monthly plays out then EURUSD 1.0 on our way??
Attached Image (click to enlarge)
Click to Enlarge Name: eurusdmn1.06072012.gif Size: 60 KB
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #318,351
  • Jul 7, 2012 2:38pm Jul 7, 2012 2:38pm
Eur is very bearish ,more so than gbp, im looking at 1.2 ,close as usual left us thinking but im thinking candles very clear
Attached Image (click to enlarge)
Click to Enlarge Name: eur usd d1 7-7-12.png Size: 30 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #318,352
  • Jul 7, 2012 3:32pm Jul 7, 2012 3:32pm
Quoting bguguen
Id be shorting the Pound double the lot i used to trade if it gets up to 1.58...
That Daily EMA200 is perfect place to short for a nice 200-300 pip profit...
Right now it sure looks delicious!

BTW talk about conspiracy theory... looks like the Libor Rate scandal is much bigger than anyone here anticipated...
http://www.washingtonsblog.com/2012/...ar-market.html

BTW someone asked why big boys would push market to hunt for stops.... if it costed them
well bankers can manipulate interest...
and again....I will ask the same question.

do you think the banks will get their ass raped ? banks owe Osbourne and Merkel and the rest of up .

Do you think they will end up in jail? any of them ?

Swiss bank already has imunity in the States against all accusations so how can we say it is a big scandal.
they all knew about the thing including the ones doing the search now....

oh wait,the elections are this year ...

cool

as I said,kansas city shuffle it is.

I once knew a mayor that made some calls to the road cleaners during winter and told them that during a press conference he will swear at them and shout and all the citizens will see the tape and say ''wow,this mayor does his job''
after this all will resume the bad jobs they were doing
  • #318,353
  • Jul 7, 2012 4:44pm Jul 7, 2012 4:44pm
We have landed on the 61.8 retrace to finish the week.

We have common bearish and bullish 38.2 retrace at 5580 area, (5267-5776 and 5720-5460), support turned resistance and the 1hr 200ema lurking.

Also bullish divergences.
Attached Image (click to enlarge)
Click to Enlarge Name: christmas trade163if.gif Size: 20 KB
Come with me if you want to live....
  • #318,354
  • Jul 7, 2012 5:11pm Jul 7, 2012 5:11pm
Quoting Niranj
hi mate. looks like a good analysis and obviously you are one of the best analysts on this forum. What do you think of the long term weekly support on the chart attached in the pic. you think it can act as a good support?
Hey dude, sorry man I don't really know. Historically the area is very strong but Who knows. If we do get down there and it does hold, we have a wonderful bullish arch created in June, July to play off and in my mind a retest of Junes high is on but will wait to see what the chart presents if and when we get back down there.
Come with me if you want to live....
  • #318,355
  • Jul 7, 2012 10:33pm Jul 7, 2012 10:33pm
if monday close below 1.5448, then where going up into 1.5500 area by tuesday
  • #318,356
  • Jul 7, 2012 10:50pm Jul 7, 2012 10:50pm
Quoting Ill-b-back
We have landed on the 61.8 retrace to finish the week.

We have common bearish and bullish 38.2 retrace at 5580 area, (5267-5776 and 5720-5460), support turned resistance and the 1hr 200ema lurking.

Also bullish divergences.
Possible rise to 1.58 on its way... if this is the case ill be shorting at the Daily 200EMA which happens to be at 1.58
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #318,357
  • Jul 8, 2012 12:53am Jul 8, 2012 12:53am
Quoting Ill-b-back
We have landed on the 61.8 retrace to finish the week.

We have common bearish and bullish 38.2 retrace at 5580 area, (5267-5776 and 5720-5460), support turned resistance and the 1hr 200ema lurking.

Also bullish divergences.
Just noticed I didn't take the fib tool down to Fridays low but still in Thursdays position.
Come with me if you want to live....
  • #318,358
  • Jul 8, 2012 2:06am Jul 8, 2012 2:06am
Cable looks like it's still got some way to drop. I have two pending orders set up.

Sell [email protected], stop [email protected], target [email protected]
Sell [email protected], stop [email protected], target [email protected]

I'll update this post as the new week begins.

Cheers
fs-coach
  • #318,359
  • Jul 8, 2012 3:37am Jul 8, 2012 3:37am
Quoting stulic
dunno why but only this came up in my mind...

http://www.youtube.com/watch?v=e_mPrhwpZ-8

exactly
  • #318,360
  • Jul 8, 2012 3:40am Jul 8, 2012 3:40am
Quoting inpatient
pretty much everywhere but particularly in the west. I spent alot of time in Thailand and other parts of south east asia and the people there i think would be just content with the basics.

i disagree..ok people in the so called less developed countries may appear to want less but the people at the top are milking it..i also would bet the crimes rates are higher as well

kinda like when i went to india..it seems this way but behind closed door people will sell their uncles to make corn
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