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Cable Update (GBPUSD)

  • #333,441
  • Jan 9, 2013 8:47am Jan 9, 2013 8:47am
Quoting Freshpips
I opened a short. So I suggest you go long. 100 lots.
i agree with bbking on this buddy... u kinda opened a short at curent lows.... i mean i am support ppl to short this GBPUSD but shouldnt you wait for a pullback first?
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #333,442
  • Jan 9, 2013 8:48am Jan 9, 2013 8:48am
ok son.. you're on track, but still need lots of work.. may be that will eventually come after some soul rinsing under many moons..

I would not read too much into the funnymentals for it could be detrimental for your trading needs..

Inter-market studies is a very useful confirmation tool in my M/T toolbox to track money moving around the market..
Read Euro & GBP PA together with EURGBP, EURJPY & GBPJPY for sign of Dollar strength/weakness since they all have correlation to a certain degree affecting each other & shows how money moves around the market..

IMO trading the majors & not reading their Crosses is like fighting well-armed Forex robbers in the dark with a funny handbag..



http://i735.photobucket.com/albums/w...y-old-lady.jpg

Quoting fxtyrant
i dunno bout you but heres me being humble and asking you a serious question...
looking at that post it seems as though you prefer trading cross pair correlated move
in ur experience is it reliable? especially with EURGBP?

as of late i find EURGBP very manipulated... as if Bankers are Moving money in and out between Europe and UK on conflicting news of UK and Europe... when they are essentially 1 economy.. the Eurozone...

i dunno bout you but i tend not to play with the EURGBP because of this reason where fresh sellers/buyer poping out of no...
  • #333,443
  • Jan 9, 2013 8:52am Jan 9, 2013 8:52am
Quoting cdndollar
ok son.. you're on track, but still need lots of work.. may be that will eventually come after some soul rinsing under many moons..

I would not read too much into the funnymentals for it could be detrimental for your trading needs..

Inter-market studies is a very useful confirmation tool in my M/T toolbox to track money moving around the market..
Read Euro & GBP PA together with EURGBP, EURJPY & GBPJPY for sign of Dollar strength/weakness since they all have correlation to a certain degree affecting each other & shows how money moves around...
LOL well spoken, and i kinda agree with you but i got to say... EURGBP is one heck of a fishy cross pair that i tend to avoid.... dont understand the flows on it but it tends to feel like pure bank flow movements that could come out of no where ie... manipulation...
because in my opinion... EURUSD and GBPUSD should move in a somewhat correlation... if it doesnt then theres manipulation or conflict between Europe and UK and as of late.... we have been seeing it...
my perfect scenario is EURGBP to be range bound and EURUSD moving up translates to GBPUSD moving up....
but it doesnt seem like the case lately.... and EURGBP flows is the culprit.... bloody bankers...
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #333,444
  • Jan 9, 2013 8:54am Jan 9, 2013 8:54am
Bearish move down off the daily pivot area then price arriving at a previous 4hr/daily swing lo zone / 76.4% 5881-6349 at the current daily lo. Price @ 90% of 20day atr at the current lo which is now at 91pips.

G/L
Attached Image (click to enlarge)
Click to Enlarge Name: z.jpg Size: 160 KB
ex member
  • #333,445
  • Jan 9, 2013 8:56am Jan 9, 2013 8:56am
Quoting fxtyrant
i agree with bbking on this buddy... u kinda opened a short at curent lows.... i mean i am support ppl to short this GBPUSD but shouldnt you wait for a pullback first?

Your not wrong. In retrospect I should have waited for pullback, however, I had been away from computer, came back and saw price break through 1.6 and was looking for a quick move down 20-30 pips.

Thinking behind it was there would be pending shorts around 1.599x's and was assuming price would spike down fairly quickly. I was wrong. No big deal, was a small position.

Bottom line, I rushed into it.

I think it will come good, just mean if i dont want to take a loss now, I may have to stick with it suffer drawdown for a while...

Where you think this baby is pulling back to?
  • #333,446
  • Jan 9, 2013 9:03am Jan 9, 2013 9:03am
Quoting Freshpips
Your not wrong. In retrospect I should have waited for pullback, however, I had been away from computer, came back and saw price break through 1.6 and was looking for a quick move down 20-30 pips.

Thinking behind it was there would be pending shorts around 1.599x's and was assuming price would spike down fairly quickly. I was wrong. No big deal, was a small position.

Bottom line, I rushed into it.

I think it will come good, just mean if i dont want to take a loss now, I may have to stick with it suffer drawdown for a while...

Where you think...
well ill attach you the chart and you'll decide... from the looks i think it will pull back and meet resistance at 1.6020 which was a fib support which i expect it to become a resistance....
i wont garuntee that this fib will hold the GBPUSD if it pulls back but thats one of the points id be looking at....

https://dl.dropbox.com/u/52561775/Fo...12013.2303.gif
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #333,447
  • Jan 9, 2013 9:05am Jan 9, 2013 9:05am
Quoting Freshpips
Your not wrong. In retrospect I should have waited for pullback, however, I had been away from computer, came back and saw price break through 1.6 and was looking for a quick move down 20-30 pips.

Thinking behind it was there would be pending shorts around 1.599x's and was assuming price would spike down fairly quickly. I was wrong. No big deal, was a small position.

Bottom line, I rushed into it.

I think it will come good, just mean if i dont want to take a loss now, I may have to stick with it suffer drawdown for a while...

Where you think...
My guess - 1.6040 - 1.6050

Regards
Attached Image (click to enlarge)
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  • #333,448
  • Jan 9, 2013 9:09am Jan 9, 2013 9:09am
Quoting TauTrader
My guess - 1.6040 - 1.6050

Regards
funny though - I have shorted EU on my signal test..
  • #333,449
  • Jan 9, 2013 9:21am Jan 9, 2013 9:21am
Quoting fxtyrant
well ill attach you the chart and you'll decide... from the looks i think it will pull back and meet resistance at 1.6020 which was a fib support which i expect it to become a resistance....
i wont garuntee that this fib will hold the GBPUSD if it pulls back but thats one of the points id be looking at....

https://dl.dropbox.com/u/52561775/Fo...12013.2303.gif
I had first potential @ 19/20.

Next was 30, which has proved to be a significant level in recent days/weeks, in my opinion.

Thanks.
  • #333,450
  • Jan 9, 2013 9:24am Jan 9, 2013 9:24am
Quoting TauTrader
My guess - 1.6040 - 1.6050

Regards

Much appreciated Tau...

It was a stupid entry. Got carried away and didnt want to miss next leg down. That'll teach me.

Thanks
  • #333,451
  • Jan 9, 2013 9:25am Jan 9, 2013 9:25am
Yes, all the Crosses, in particular EURGBP & EURCHF are subjected to big player manipulation to move the market in their direction.. that had been the case since I was reformed by inter-market studies many moons ago.. so, Just trade what you see & go with the manipulation..

Right now, EURGBP, EURJPY & GBPJPY are being strategically manipulated by EURUSD & GBPUSD elephants.. & this manipulation could last from hours to days with the objective that EURUSD & cousin GBPUSD will eventually follow & catch up..

Quoting fxtyrant
LOL well spoken, and i kinda agree with you but i got to say... EURGBP is one heck of a fishy cross pair that i tend to avoid.... dont understand the flows on it but it tends to feel like pure bank flow movements that could come out of no where ie... manipulation...
because in my opinion... EURUSD and GBPUSD should move in a somewhat correlation... if it doesnt then theres manipulation or conflict between Europe and UK and as of late.... we have been seeing it...
my perfect scenario is EURGBP to be range bound and EURUSD moving up translates to...
  • #333,452
  • Jan 9, 2013 9:34am Jan 9, 2013 9:34am
Quoting cdndollar
Yes, all the Crosses, in particular EURGBP & EURCHF are subjected to big player manipulation to move the market in their direction.. that had been the case since I was reformed by inter-market studies many moons ago.. so, Just trade what you see & go with the manipulation..

Right now, EURGBP, EURJPY & GBPJPY are being strategically manipulated by EURUSD & GBPUSD elephants.. & this manipulation could last from hours to days with the objective that EURUSD & cousin GBPUSD will eventually follow & catch up..
whats pissing me off is the YEN... are the BOJ done with their easing?
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #333,453
  • Jan 9, 2013 9:35am Jan 9, 2013 9:35am
Quoting Freshpips
Much appreciated Tau...

It was a stupid entry. Got carried away and didnt want to miss next leg down. That'll teach me.

Thanks
Sir Fresh..

No - I can see why you went in there.. Looked like the mother of all drops about to commence..

There is no such thing as a stupid entry.. well .. not if one has thought it through.

4hr owes me a long.

Regards
  • #333,454
  • Jan 9, 2013 9:57am Jan 9, 2013 9:57am
Quoting TauTrader
Sir Fresh..

No - I can see why you went in there.. Looked like the mother of all drops about to commence..

There is no such thing as a stupid entry.. well .. not if one has thought it through.

4hr owes me a long.

Regards
Thats exactly what I was hoping to catch.

I made it back on the rejection from 19/20 so im even.

Thank you Tau.
  • #333,455
  • Jan 9, 2013 10:04am Jan 9, 2013 10:04am
Quoting Freshpips
Thats exactly what I was hoping to catch.

I made it back on the rejection from 19/20 so im even.

Thank you Tau.
Cool -

Awesomeness.

Watch for a rise though..

Regards
  • #333,456
  • Jan 9, 2013 10:51am Jan 9, 2013 10:51am
Too many things i see pointing up. Bull flag, rising trend-line, oversold, daily low bollinger, retest of old bull flag which has been broken. Maybe its just me I think 1.6450 is still a possibility but whatever happens we still gotta trade the charts.
Numbers NEVER Lie
  • #333,457
  • Jan 9, 2013 10:51am Jan 9, 2013 10:51am
A simple chart

Rejection of lower TL ( Gann based) as well as a subtle twitch up on the bottom indi. 4hr chart - tells me bull pressure coming.. personally will buy dips

Regards
Attached Image (click to enlarge)
Click to Enlarge Name: blah2.jpg Size: 133 KB
  • #333,458
  • Jan 9, 2013 10:56am Jan 9, 2013 10:56am
Quoting ZizoFX
Too many things i see pointing up. Bull flag, rising trend-line, oversold, daily low bollinger, retest of old bull flag which has been broken. Maybe its just me I think 1.6450 is still a possibility but whatever happens we still gotta trade the charts.
Gmff.

Can't vouch for you - already did.

Nice spot there.

Regards
  • #333,459
  • Jan 9, 2013 11:02am Jan 9, 2013 11:02am
I don't usually cluster my chart but here is a glimpse of what I meant in the previous post. Sorry it looks like a work of art
Attached Image (click to enlarge)
Click to Enlarge Name: GUD15.png Size: 70 KB
Numbers NEVER Lie
  • #333,460
  • Jan 9, 2013 11:04am Jan 9, 2013 11:04am
Quoting TauTrader
Gmff.

Can't vouch for you - already did.

Nice spot there.

Regards
Thank you Sir Tau,

Very much appreciated
Numbers NEVER Lie
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