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Cable Update (GBPUSD)

  • #320,801
  • Aug 7, 2012 2:56am Aug 7, 2012 2:56am
Quoting _BBKing_
yes monthly i agree.
yesterday price took a slap just near weekly close area.
first of all, need to clear that area (5630-50)
considering this, what i see is in this chart below: a kind of weakening of supply in that level.

range is easy: WP till 5660 first, then 5660 5730/50 second.

i would not exclude another move attack followed by another move down.
but who knows?

right now most are short..more need to add short then we go till then, we need more bums on da seat
  • #320,802
  • Aug 7, 2012 2:59am Aug 7, 2012 2:59am
inflection points in 2 mins. 200 ma touch.
Attached Image (click to enlarge)
Click to Enlarge Name: GU 1HR Closed 3 shorts 7 Aug 12.png Size: 62 KB
"My 2 cents"
  • #320,803
  • Aug 7, 2012 2:59am Aug 7, 2012 2:59am
What about this?
Manufacturing Production m/m... in 30 minutes.
Forecast is pretty bad, looks to me like price is heading to resistance, that London boys are preparing ground for shorts from higher level, in case forecast is good.
  • #320,804
  • Aug 7, 2012 3:01am Aug 7, 2012 3:01am
Quoting nAVIN2007
look at yur monthly..draw a traingle..u should find price broke out and is testing the breakout area..this is where the doji is..from my experience price is confirming a reluctance to go back in..if the high of the doji goes..continuation of trend continues and im going to mah target in a shuttle
yes if price clear the weekly levels this or next week, a domino will happen and we go straight to 1.59 then 1.60 in a single move.

furthermore, these moves up down up down, could be happening () because of big positions closing shorts and loading longs since reasons to get here from highs are not the same than when we were @1.60 - 1.61.

of course, as bguguen very well point out, another fuck in europe would be dramatic for euro and everything related...

personally, up or down, i would like to see a bit of hourly trend. this fast moves makes me in study every single damn level within range
90% of traders use TA, indicators and prediction
  • #320,805
  • Aug 7, 2012 3:01am Aug 7, 2012 3:01am
Quoting bguguen
not saying your analysis is bad... but im really worried looking at monthly charts... takes too damn long for a direction to formulate....

its all relative brother!!..honestly if u ask me..i feel like i just entered..im not waiting for it..when u get to a place in trading where yur in a trade and feel like yur not..u can look objectively

i cant trade this mess looking at dailly..there isnt enough confirmation for me but the big picture to me is crystal clear,
dont get me wrong, not saying it wont go down but think the probability of it going higher is more likely.
I just trade the option which gives me the best probability
  • #320,806
  • Aug 7, 2012 3:06am Aug 7, 2012 3:06am
lol
if we zoom out strong the h4 chart, we get the same pattern seen in weekly.
:nerd:
90% of traders use TA, indicators and prediction
  • #320,807
  • Aug 7, 2012 3:07am Aug 7, 2012 3:07am
look
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Chart_GBP_USD_4 Hours_snapshot.png Size: 16 KB
Click to Enlarge Name: Chart_GBP_USD_Weekly_snapshot.png Size: 11 KB
90% of traders use TA, indicators and prediction
  • #320,808
  • Aug 7, 2012 3:12am Aug 7, 2012 3:12am
Quoting _BBKing_
yes if price clear the weekly levels this or next week, a domino will happen and we go straight to 1.59 then 1.60 in a single move.

furthermore, these moves up down up down, could be happening () because of big positions closing shorts and loading longs since reasons to get here from highs are not the same than when we were @1.60 - 1.61.

of course, as bguguen very well point out, another fuck in europe would be dramatic for euro and everything related...

personally, up or down, i would like to see a bit of hourly trend. this...

euro is very close to buy opportunity..it wont collapse..another reason to long cable, gold also, dollar people are looking for QE...big money is coming into market and fear provide opportunity to buy cheap..i think ..lol
  • #320,809
  • Aug 7, 2012 3:19am Aug 7, 2012 3:19am
Quoting PoundTrader
ok im gonna take a long here at 1.5597, s/l 1.5542, t/p 1.5722
ok here's the plan in order for me to hold this trade another day it must hit 1.5661, if not i will get out and re-load on long at a better price. this pair is in a bad mood today
  • #320,810
  • Aug 7, 2012 3:22am Aug 7, 2012 3:22am
Quoting nAVIN2007
euro is very close to buy opportunity..it wont collapse..another reason to long cable, gold also, dollar people are looking for QE...big money is coming into market and fear provide opportunity to buy cheap..i think ..lol
i also think we bottomed in euro near 1.20
but also i don't expect it will go far.
big problems with Egbp which is very low now and could give bad days for uk economy.....
90% of traders use TA, indicators and prediction
  • #320,811
  • Aug 7, 2012 3:24am Aug 7, 2012 3:24am
Quoting nAVIN2007
euro is very close to buy opportunity..it wont collapse..another reason to long cable, gold also, dollar people are looking for QE...big money is coming into market and fear provide opportunity to buy cheap..i think ..lol
I just sold EU @ 1.2427

now you tell me they want to buy it ? now ???

just kidding.

QE maybe in sept but in sept we have the end of the world on the 12th and 13th as well.

how about Spain and Italy are about to destroy the universe ?

how about Greece that needs to renegociate the terms in order to stay in EZ ?

It would be good to have a strong EUR and a stronger pound but I am afraid this will not happen.

I'd love to see you close your trades in profit and carry on trading but I still think people are more aware now of the bad situation and will soon start a riot.

we have summits over summits but no taxes are collected and when they are collected they are poorly spent.

govts cover only banks debts but never citizens debts so there will never be enough money to cover the greed....
  • #320,812
  • Aug 7, 2012 3:25am Aug 7, 2012 3:25am
Break a Fib one way or other so I can ride it like a Tsunami.
Attached Image (click to enlarge)
Click to Enlarge Name: GU needs to break a FIB.png Size: 60 KB
"My 2 cents"
  • #320,813
  • Aug 7, 2012 3:26am Aug 7, 2012 3:26am
i would like if SNB moves the peg to 1.30 today in Ech.
lol
90% of traders use TA, indicators and prediction
  • #320,814
  • Aug 7, 2012 3:28am Aug 7, 2012 3:28am
Quoting redbeben
I just sold EU @ 1.2427

now you tell me they want to buy it ? now ???

just kidding.

QE maybe in sept but in sept we have the end of the world on the 12th and 13th as well.

how about Spain and Italy are about to destroy the universe ?

how about Greece that needs to renegociate the terms in order to stay in EZ ?


govts cover only banks debts but never citizens debts so there will never be enough money to cover the greed....

quote of the year!
90% of traders use TA, indicators and prediction
  • #320,815
  • Aug 7, 2012 3:33am Aug 7, 2012 3:33am
ok
all this said,
i go back to my first idea: day off.
at least whole london morning.

byebye
90% of traders use TA, indicators and prediction
  • #320,816
  • Aug 7, 2012 3:37am Aug 7, 2012 3:37am
Quoting redbeben
I just sold EU @ 1.2427

now you tell me they want to buy it ? now ???

just kidding.

QE maybe in sept but in sept we have the end of the world on the 12th and 13th as well.

how about Spain and Italy are about to destroy the universe ?

how about Greece that needs to renegociate the terms in order to stay in EZ ?

It would be good to have a strong EUR and a stronger pound but I am afraid this will not happen.

I'd love to see you close your trades in profit and carry on trading but I still think people are more aware now of the bad...

we are taking about 800 pips here not thousands buddy..u will see
u are a charist trust yur chart..

man i saw the euro drop in chart but never trust it..with time u realise charts show much more than we imagine
  • #320,817
  • Aug 7, 2012 3:40am Aug 7, 2012 3:40am
jump jump and jump

Inserted Video

Quoting iqyu5an
http://www.youtube.com/watch?v=wlq0lYB3iSM


http://www.forexfactory.com/attachme...7&d=1344284902
not euphoria follower
  • #320,818
  • Aug 7, 2012 3:43am Aug 7, 2012 3:43am
Quoting _BBKing_
i also think we bottomed in euro near 1.20
but also i don't expect it will go far.
big problems with Egbp which is very low now and could give bad days for uk economy.....

here's a chart on monthly EU.

first big spike up is the bubble right before the crisis in 2008 in august more or less.

price tanked then some 3000 pips in 3 months and only went up,recovering but with each comeback it made only lower lows..like a ball that bounces first harder and then lower and lower till it stops.

look at the red circle on the left side of the chart and see an ichi perfect buy fromation.a monthly perfect signal brings in thousands of pips...in this case more than 3000

now look on the right side circle....a perfect sell signal on monthly.so far we only had 1300 pips

if EU goes up it only goes up to 1.28-1.32 level max and then it goes to 1.16 area.

or,if market realises the complexity of the debt we see 1.2050 again where MA 200 lies as well and we go straight to 1.16

that's the last defense before the parity on this one and that's only half the move we had in 2008 as 1500 pips still need to be covered.....so there you go,parity

but as well this is only based on monthly and on indicators and on ''I want EZ to go'' state of mind so I might be wrong.

if pullback happens now and we see at least 1.2800 area then GU will see 1.60-62

till then I'll keep on scalping
Attached Image (click to enlarge)
Click to Enlarge Name: eufail.gif Size: 78 KB
  • #320,819
  • Aug 7, 2012 4:00am Aug 7, 2012 4:00am
ok now 50 pips cashed in,50 still open I call it a day.it's cloudy here and not in a mood to trade

my sell on EU @ 1.2427 was scaled @ 1.2404 as my TP1

TP2 1.2395 and TP3 1.2386

have a nice day.
  • #320,820
  • Aug 7, 2012 4:01am Aug 7, 2012 4:01am
Everybody already dreaming for 1.6xxx or 1.63xx or 1.65xx,
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Jewel1996