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Cable Update (GBPUSD)

  • #331,081
  • Nov 28, 2012 2:24am Nov 28, 2012 2:24am
Quoting Ill-b-back
Yes, well within range brother

I am eyeing off 5270 as a minimum longer term target
i was gona say im eying for that EMA200 daily at 1.58xx to be retested again....

but yea long term... 1.5 is my forecast wakakaka
We live in a finite world with infinite possibilities.
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  • #331,082
  • Nov 28, 2012 2:25am Nov 28, 2012 2:25am
Quoting fxtyrant
great chart, great analysis...

BTW my NZDJPY trade recovering good from the utter bullshit of yen easing last friday...

Now my turn to throw a chart in for you GBPUSD fanatics out there

And this is the chart without the Fibo that shows the Top we had for the last 3 days showed a resistance at the 61.8% fibo, for people wondering what im talking about, look at my previous attachments of GBPUSD chart.
Attachment

PS. btw ill-b-back looking at the daily GBPUSD chart EMA55 is above EMA200 and you know exactly what direction...
I'm glad that trade is turning around, I hate fundies

have you considered using a 4 hr trendline break or something like that as confirmation of the daily divergence? signal
Come with me if you want to live....
  • #331,083
  • Nov 28, 2012 2:28am Nov 28, 2012 2:28am
Quoting fxtyrant
i was gona say im eying for that EMA200 daily at 1.58xx to be retested again....

but yea long term... 1.5 is my forecast wakakaka
Yes the support at 58 area is a logical first stop if and when we break down.
Come with me if you want to live....
  • #331,084
  • Nov 28, 2012 2:31am Nov 28, 2012 2:31am
Quoting Ill-b-back
Yes the support at 58 area is a logical first stop if and when we break down.
hi what is you target m8 for shorts ?
Wolves don't lose any sleep over the opinion of the sheep.
  • #331,085
  • Nov 28, 2012 2:40am Nov 28, 2012 2:40am
Quoting FX Wolf
hi what is you target m8 for shorts ?
well im goign to hesitate a guess that ill-b-back would tell you to short into the emas like i usually do.... here are some levels for you to look at .

EMA55 H4 1.5970
EMA200 H4 1.5985
EMA 55 Daily 1.5980
EMA200 Daily 1.5885
EMA 55 Weekly 1.5885
EMA 200 Weekly 1.6180...

from those numbers it seems to make sense to short back into the 1.5980 areas for initial take profit and 1.5885/1.5900 for extended take profits.

But my advise right now is to stay out.... the GBPUSD is stuck in a tight range and breakout is bound to happen.... right now the GBPUSD is what i call stuck in the middle and middle is not where you want to Long or short at the moment...
reason behind this is because we are already too close to the Daily EMA 55.... shorting back to it just doesnt make sense when theres a potential 100 pip up if theres a breakout for a 20 pip take profit at 1.5980 on the GBPUSD short....
im also NOT telling you to long either because we dont have an upward breakout yet.....
my advise... STAY OUT.

until we get a clearer direction.
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #331,086
  • Nov 28, 2012 2:50am Nov 28, 2012 2:50am
Quoting FX Wolf
hi what is you target m8 for shorts ?
Since I started trading the higher time frames, I have started to see this pair differently.

It is very symmetrical (even though for some reason my brokers WEEKLY chart is all f#*@ed up showing heaps of extra candles and things.

But checked on another broker platform and is still legit.

I trade an almost entirely mechanical system, this analysis is just for something to do and to make sense of signals it gives me.

Apart from this longer term target I just go with the flow on lower TF's.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: christmas trade2708if.gif Size: 16 KB
Click to Enlarge Name: christmas trade2709if.gif Size: 17 KB
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  • #331,087
  • Nov 28, 2012 2:53am Nov 28, 2012 2:53am
Quoting FX Wolf
i meant to say that in other forums/threads i saw traders talking gu and eu are co related means if eu is up gu is up and if gu is down so the eu but i think that not the case

currencies move one by one when euro$ is moving properly then look for other euro pairs are they moving too?
if not then look for another currency which is moving as a whole against all other currencies

like in the case of yen when it dropped it not only dropped against $ it dropped against every other major currency in the world

i think its time for pound to...
Hi Wolf, I can see what you mean. We might still see a bearish day today as some sell orders have been triggered at 1.6027 with stops just above 1.6084 looking for 1.5975 level, (50% of 1.5926/1.6055 / 22 November high). I'm still in longs too. GL
Numbers NEVER Lie
  • #331,088
  • Nov 28, 2012 2:55am Nov 28, 2012 2:55am
Crikey, just noticed this.

Teasing breakout, now break back in and retest
Attached Image(s) (click to enlarge)
Click to Enlarge Name: christmas trade2709if.gif Size: 14 KB
Click to Enlarge Name: christmas trade2710if.gif Size: 14 KB
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  • #331,089
  • Nov 28, 2012 3:07am Nov 28, 2012 3:07am
thanks all mates for kind replies

pls suggest where i put my SL order for my longs

currently its at 5964, we all know we are in trading wrong many many times so dont hesitate to tell me where stops should be for any adverse move against me
Wolves don't lose any sleep over the opinion of the sheep.
  • #331,090
  • Nov 28, 2012 3:20am Nov 28, 2012 3:20am
Quoting FX Wolf
thanks all mates for kind replies

pls suggest where i put my SL order for my longs

currently its at 5964, we all know we are in trading wrong many many times so dont hesitate to tell me where stops should be for any adverse move against me
Mate that is real hard to ask, it depends on ones own market outlook.

To me this looks very bearish and jumped out of all longs this morning as my technical picture became clearer.

But that is just me.

Maybe someone else can help.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: christmas trade2711if.gif Size: 14 KB
Come with me if you want to live....
  • #331,091
  • Nov 28, 2012 3:21am Nov 28, 2012 3:21am
I'm out to wash the dishes and off to bed,

night all
Come with me if you want to live....
  • #331,092
  • Nov 28, 2012 3:29am Nov 28, 2012 3:29am
Quoting Ill-b-back
I'm out to wash the dishes and off to bed,

night all

bye bye
Loosening is not an option
  • #331,093
  • Nov 28, 2012 4:37am Nov 28, 2012 4:37am
Quoting FX Wolf
sorry here is the chart
That is so true. Higher only after breakout confirmation. I have burnt myself a few times in the past hoping for the breakout. I would like to at least take some off the table if not all and maybe move the SL higher. Cheers.
  • #331,094
  • Nov 28, 2012 4:41am Nov 28, 2012 4:41am
Quoting FX Wolf
sorry here is the chart
If green line is taken, we'll have to wait couple of 4H candles to confirm if we are going higher. If you notice the previous such break was a false one. Cheers.
  • #331,095
  • Nov 28, 2012 4:49am Nov 28, 2012 4:49am
now prices are at lower green line my mood is dampened stops at 59 fakkin 64
Wolves don't lose any sleep over the opinion of the sheep.
  • #331,096
  • Nov 28, 2012 4:56am Nov 28, 2012 4:56am
Quoting FX Wolf
thanks all mates for kind replies

pls suggest where i put my SL order for my longs

currently its at 5964, we all know we are in trading wrong many many times so dont hesitate to tell me where stops should be for any adverse move against me
First thing, you are not alone in the long boat. I've thinking if this hourly doesn't close above 1.5988, it might be time to worry. Anything below 76.4% fib of last bull move is nice as a SL. I also see 1.5974 as a confluence of a rising trendline and 61.8 fib.
  • #331,097
  • Nov 28, 2012 4:58am Nov 28, 2012 4:58am
sharing my ideas on some pairs in my live webinar done earlier in the morning.

it's a youtube video, you can watch later since no scalping signals for 10-12pips. i'm showing med terms levels and talking about some PA pattern appearing for second part of the week on:

GU - EU - JPYcrosses - CHFCrosses

tks.

Inserted Video
90% of traders use TA, indicators and prediction
  • #331,098
  • Nov 28, 2012 5:09am Nov 28, 2012 5:09am
Quoting CasperTrader
First thing, you are not alone in the long boat. I've thinking if this hourly doesn't close above 1.5988, it might be time to worry. Anything below 76.4% fib of last bull move is nice as a SL. I also see 1.5974 as a confluence of a rising trendline and 61.8 fib.
i have started counted smaller tf impulsive move of bigger tf ew count from 5918 lows to 5965 as wave (i) of bigger wave 3 as per rules prices of current wave (iv) should not over lap wave (i) high which is 5965 and my stops are according to this wave count one pip below the (i) high lets see and wait if this (iv) over laps (i) or not, if not then wave (v) of larger wave 3 of another larger wave 1 has started

i dont know what is coming ...
Wolves don't lose any sleep over the opinion of the sheep.
  • #331,099
  • Nov 28, 2012 5:10am Nov 28, 2012 5:10am
Good day,

If we break 1.5960, we see 1.5940

Regards
  • #331,100
  • Nov 28, 2012 5:15am Nov 28, 2012 5:15am
Quoting chazzle
GU W1 D1

Weekly Morning Star - it's real-body mid at 960. Friday real-body mid at 983 - I would favour a pullback to go long in this area (candles permitting) aiming for weekly res. (current level) then monthly res. around 140
in at 971
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