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Cable Update (GBPUSD)

  • #323,661
  • Sep 5, 2012 12:04pm Sep 5, 2012 12:04pm
Quoting bguguen
Trying a cheeky short on EURUSD at 1.2595, SL at 1.2630 and TP at 1.2550
it SHOULD reach tp during asia, and ill be looking to cover my shorts before the ECB news...
exactly my sl, though i placed mine by 12602
The fragrance remains in the hands of those that gves the rose
  • #323,662
  • Sep 5, 2012 12:43pm Sep 5, 2012 12:43pm
Quoting bguguen
Anyways here you go.....
heres my chart on weekly if we plot fib you can see if fib wise 61.8 is already being tested at 1.5905, if we close today above it 72.8% which is 1.6075 on charts, and i expect a wicky reaction as we approach 1.6075, possibly a 20-30 pips wick up on a daily before a reversal, it always happens that way.... and i would bet that the wick would hit the Weekly 200 EMA of which right now its at 1.6195 but by the time we test 72.8% itll probably catch up down around 1.6100-1.6120
Also note the top right corner... looking very...
55 ema monthly in an interesting spot also after weekly break through...
Come with me if you want to live....
  • #323,663
  • Sep 5, 2012 12:45pm Sep 5, 2012 12:45pm
This looks to me like a stop hunt for stops above 5900 level. Also, closed below 61.8% Fib level and rising wedge.
Attached Image (click to enlarge)
Click to Enlarge Name: gu1.gif Size: 21 KB
Please do not vouch for me.
  • #323,664
  • Sep 5, 2012 1:06pm Sep 5, 2012 1:06pm
Quoting bguguen
Trying a cheeky short on EURUSD at 1.2595, SL at 1.2630 and TP at 1.2550
it SHOULD reach tp during asia, and ill be looking to cover my shorts before the ECB news...
1.2562 first stop
second 1.2540 and last one 1.2515

but we might go as low as 1.2482

it depends how asia behaves
  • #323,665
  • Sep 5, 2012 1:19pm Sep 5, 2012 1:19pm
Quoting spillini
This looks to me like a stop hunt for stops above 5900 level. Also, closed below 61.8% Fib level and rising wedge.
yes true did not close above that fib, but overall has a strong bullish tone.
how much supply is there at these levels? we can't know but for what i see, previous touch near 5910-5900-5915, in few hours we were some 40 to 60 pips lower.
now price penetrated this level and still not coming down even if we came from 5830.

all this to say:
not exactly the kind of scenario where i look for a short.... if will be a short, will be better seen later or tomorrow.
just my opinion
90% of traders use TA, indicators and prediction
  • #323,666
  • Sep 5, 2012 1:31pm Sep 5, 2012 1:31pm
anyway this move today has been very strong and highly un-expected IMO.
euro was quite better indeed i luckly was long in EU EJ and other Euro cross.
but really GU i was waiting to be long 30-50 pips lower near 5800 or even 5780-90.

does this mean that will go there?
maybe, problem is to understand when!
90% of traders use TA, indicators and prediction
  • #323,667
  • Sep 5, 2012 1:37pm Sep 5, 2012 1:37pm
and finally... a champagne bottle for the Echf closing candle above 2030 after 5 months.

if the thing starts to go up, first target will be 1.24 soon.

good luck
Attached Image
90% of traders use TA, indicators and prediction
  • #323,668
  • Sep 5, 2012 2:00pm Sep 5, 2012 2:00pm
we could be heading down to 1.5730 area
  • #323,669
  • Sep 5, 2012 2:18pm Sep 5, 2012 2:18pm
what about a possible green in usa reports tomorrow and friday?
would be quite usd bullish in my opinion, since losing confidence about more qe for a while...

could be a good trigger for shorts eu gu etc.. for next week
90% of traders use TA, indicators and prediction
  • #323,670
  • Sep 5, 2012 2:36pm Sep 5, 2012 2:36pm
Hi guys,

I am thinking to go long on pound at 1.5890-1.5900 and exit at 1.6020. Risking 40pips.

Anyone else thinking long?
The trend is a better friend!
  • #323,671
  • Sep 5, 2012 5:44pm Sep 5, 2012 5:44pm
Just went short!
All posts are my personal opinion
  • #323,672
  • Sep 5, 2012 9:10pm Sep 5, 2012 9:10pm
Quoting 42uNe
Hi guys,

I am thinking to go long on pound at 1.5890-1.5900 and exit at 1.6020. Risking 40pips.

Anyone else thinking long?
OK, after serious consideration, I've turned back to long @ 5908, target 100pips.
Believe what you see instead of what you think!
  • #323,673
  • Sep 5, 2012 9:51pm Sep 5, 2012 9:51pm
Quoting PoundTrader
we could be heading down to 1.5730 area

Draghi dissapoints tomorrow i think this is for sure an easy target. ECB rate cut would be the icing on the cake.

Not too likley though IMO, Draghi would rather resign than damage the Euro survival prospects. Instead everyone at the Bundesbank will resign instead. Were all gonna resign.

Like the Red Dwarf episode when everyone was dead, theyre all dead Dave.

Can you tell im tired.
Money never sleeps...
  • #323,674
  • Sep 5, 2012 10:10pm Sep 5, 2012 10:10pm
Quoting inpatient
Draghi dissapoints tomorrow i think this is for sure an easy target. ECB rate cut would be the icing on the cake.

Not too likley though IMO, Draghi would rather resign than damage the Euro survival prospects. Instead everyone at the Bundesbank will resign instead. Were all gonna resign.

Like the Red Dwarf episode when everyone was dead, theyre all dead Dave.

Can you tell im tired.
also true the fact that the ecb is ready with a kind of sterilyzed bond action, not a qe but something similar. maybe they are doing this to avoid a further cut in rates which is already low enough while problems are in yields and other things.......
just an opinion.

anyway today we see fireworks durin ny session, full of very important data coming from europe, uk, usa all in few minutes.
90% of traders use TA, indicators and prediction
  • #323,675
  • Sep 5, 2012 10:18pm Sep 5, 2012 10:18pm
for sure a big day BBking, will in my opinion set the trend for the remainder of the week and early next week before the next big day a week today.

Always fun my friend
Money never sleeps...
  • #323,676
  • Sep 5, 2012 11:24pm Sep 5, 2012 11:24pm
Quoting _BBKing_
also true the fact that the ecb is ready with a kind of sterilyzed bond action, not a qe but something similar. maybe they are doing this to avoid a further cut in rates which is already low enough while problems are in yields and other things.......
just an opinion.

anyway today we see fireworks durin ny session, full of very important data coming from europe, uk, usa all in few minutes.
i could be wrong but if i remember corectly "not sterilyzed = Mini QE , sterilyzed does not make any changes
Mohan
  • #323,677
  • Edited 12:41am Sep 6, 2012 12:25am | Edited 12:41am
Quoting inpatient
for sure a big day BBking, will in my opinion set the trend for the remainder of the week and early next week before the next big day a week today.

Always fun my friend
morning

Draghi already made his plan heard yesterday.market more or less already priced in.

but it means nothing for now to buy bonds if Spain and Italy did not ask for it.
In fact,spaniards just said they are doing fine and there is growth perspective.

so if EU will rally today as banks will spark the plug it normally should last to 1.27XX area and later to come down.

this is what I try to say about the trend next week...there might not be a trend at all.

USA good data ?not so sure about it.I think all this numbers are strictly correlated one to another in order to inflict maximum lose to the retailers and corporations for the bennefit of banks.

meaning.....the USA results are known already and they expect us to belive they will be good so we sell but they put bad ones so they eat SL's and by the time all traders say ''let's go with the crowd'' and turn long on bad USA data there is a quick turn and no QE no nothing.

USA might be hit by a safe heaven madness soon....and all pairs will drop

for today....5825 is in my charts but I do not bet on it as we have sh**** loads of news on it.

p.s. Draghi will never ever ever dissapoint or resign
first he is politician and second he is italian capisci
  • #323,678
  • Sep 6, 2012 12:46am Sep 6, 2012 12:46am
guys all my trades are short on the US, news comes out today, i hope that it does me justice, my trades are longer term but i will take fast pips along the way!

happy trading to everyone, LETS KILL THE MARKETS DEAD!!!!!!!

-no talk, just piping!
I am what Many Dream to be but only a few can achieve, im a part of the 1%
  • #323,679
  • Sep 6, 2012 12:51am Sep 6, 2012 12:51am
Quoting inpatient
Draghi dissapoints tomorrow i think this is for sure an easy target. ECB rate cut would be the icing on the cake.

Not too likley though IMO, Draghi would rather resign than damage the Euro survival prospects. Instead everyone at the Bundesbank will resign instead. Were all gonna resign.

Like the Red Dwarf episode when everyone was dead, theyre all dead Dave.

Can you tell im tired.
http://www.pic4ever.com/images/putertired.gif
  • #323,680
  • Sep 6, 2012 2:03am Sep 6, 2012 2:03am
Quoting redbeben
morning

Draghi already made his plan heard yesterday.market more or less already priced in.

but it means nothing for now to buy bonds if Spain and Italy did not ask for it.
In fact,spaniards just said they are doing fine and there is growth perspective.

so if EU will rally today as banks will spark the plug it normally should last to 1.27XX area and later to come down.

this is what I try to say about the trend next week...there might not be a trend at all.

USA good data ?not so sure about it[b][i].I think all this numbers are strictly...
"I think all this numbers are strictly correlated one to another in order to inflict maximum lose to the retailers and corporations for the bennefit of banks."



Absolutely, agree!!!!, so we must be smart to be part of elite 3-5% winner..... must think as the bank not the retailer crowd...
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