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Cable Update (GBPUSD)

  • #333,621
  • Jan 10, 2013 8:13pm Jan 10, 2013 8:13pm
Quoting CasperTrader
Well done. You almost sold the top. Good evaluation. But looking at this daily bull candle, it's not half as bad the bear candle of Jan 3rd and completes for almost the 50% the down move last week.

Y'day I was a bull but for a very short while. I chickened out just before the GBP interest rate news. So much so, I had longed GBP/JPY after a series of couple losses in shorts but exited for a mere 25 pips. Today, it moved for over 300 pips. Wish I had hanged in there another day.

To me it seems like today's move...
Although the move yesterday for Cable was pretty bullish I don't believe we will see much more room to the upside even if US stocks go higher.

Here is my theory for USD here.
  • #333,622
  • Jan 10, 2013 9:52pm Jan 10, 2013 9:52pm
Quoting 100PipsADay
Although the move yesterday for Cable was pretty bullish I don't believe we will see much more room to the upside even if US stocks go higher.

Here is my theory for USD here.
Excellent!

The fact seems to that it is a zero sum game. Since the Fed started their bond buying program has seen the stock market rise steadily. Bond prices were rising in pace too. Only recently have bonds shown some weakness. That should propel US stocks further. Now as you say, that will prompt people to quit bonds and invest in stocks may lead to increase in bond interest rates (to attract buyers). So, the bond selloff will continue and rates will rise which means Fed will eventually have to raise the interest rates. And I agree, that means a stronger dollar. But that also means it will have a global effect which will prompt other nations to raise their interest rates. USD in relative to other currencies may then weaken. And this goes on and on on....

The point here is that while all this happens, it happens in cycles. It takes some time before the results (effects) are realized for some cause. Fed charters a policy and it takes a while before its effects are seen. That leads to something else and so on. The key here is to spot that wave in the cycle and ride it before it takes a turn because in the end it's a zero sum game.
  • #333,623
  • Jan 11, 2013 1:36am Jan 11, 2013 1:36am
Inserted Video
not euphoria follower
  • #333,624
  • Jan 11, 2013 1:41am Jan 11, 2013 1:41am
Quoting iqyu5an
http://www.youtube.com/watch?v=pmG0KyY38H8
Can he play the song to take GBP fly as high as 16700?
  • #333,625
  • Jan 11, 2013 1:54am Jan 11, 2013 1:54am
Quoting ForexRatVN
Can he play the song to take GBP fly as high as 16700?

Nop )
Loosening is not an option
  • #333,626
  • Jan 11, 2013 1:57am Jan 11, 2013 1:57am
Quoting ForexRatVN
Can he play the song to take GBP fly as high as 16700?
or 1.7
Come with me if you want to live....
  • #333,627
  • Jan 11, 2013 2:03am Jan 11, 2013 2:03am
Quoting Ill-b-back
Ummm, ok then,

I hope that's clear enough for you mate.

What on earth are you talking about nAV?



thanks bro!..this chart shows the origin of the lines..i can see where and how u connected them, makes life a bit easier..
(thanks god u didnt take it the wrong way)

welldone on trade result
  • #333,628
  • Jan 11, 2013 2:10am Jan 11, 2013 2:10am
Quoting nAVIN2007
thanks bro!..this chart shows the origin of the lines..i can see where and how u connected them, makes life a bit easier..
(thanks god u didnt take it the wrong way)

welldone on trade result
Bro, why did I need to highlight the origins??

I honestly don't understand?

How were my lines different to any other lines drawn by anyone?

No one else highlights the origins with coloured boxes or anything. The origin is from the bar the line starts from.

Isn't this obvious and self evident in the image??

I'm really not trying to be smart, I just feel like I must be missing something.

Original image attached.
Attached Image (click to enlarge)
Click to Enlarge Name: gu71.gif Size: 17 KB
Come with me if you want to live....
  • #333,629
  • Jan 11, 2013 2:12am Jan 11, 2013 2:12am
Quoting Ill-b-back
or 1.7
Honestly, 1.6550 is my final target for this north train

Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd 4h tf 31 oct2012b.gif Size: 40 KB


Jump on train every one...
  • #333,630
  • Jan 11, 2013 2:16am Jan 11, 2013 2:16am
mine... but gonna watch closely first...

http://www.forexfactory.com/attachme...0&d=1357873467
Quoting ForexRatVN
Honestly, 1.6550 is my final target for this north train

Attachment

Jump on train every one...
not euphoria follower
  • #333,631
  • Jan 11, 2013 2:23am Jan 11, 2013 2:23am
Quoting ForexRatVN
Honestly, 1.6550 is my final target for this north train

Attachment

Jump on train every one...
Well, I would be happy with that also

I just see some very good confluence with TL retest and resistance for the next 3 months (1st Q).

Ignore the sell, I'm just looking for a possible few on a retest.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gu76.gif Size: 14 KB
Click to Enlarge Name: gu77.gif Size: 13 KB
Come with me if you want to live....
  • #333,632
  • Jan 11, 2013 2:47am Jan 11, 2013 2:47am
Quoting Ill-b-back
Bro, why did I need to highlight the origins??

I honestly don't understand?

How were my lines different to any other lines drawn by anyone?

No one else highlights the origins with coloured boxes or anything. The origin is from the bar the line starts from.

Isn't this obvious and self evident in the image??

I'm really not trying to be smart, I just feel like I must be missing something.

Original image attached.
i was talking about the yellow lines? like where they extend from..things like that..if a chart has lines but u cant see where they are connected from to me the chart is pointless..can u show one chart i have ever posted where i have included where each line start and finish from..

edit:-unless it something which can be of no use because price is no where near it..
  • #333,633
  • Jan 11, 2013 3:00am Jan 11, 2013 3:00am
Quoting nAVIN2007
i was talking about the yellow lines? like where they extend from..things like that..if a chart has lines but u cant see where they are connected from to me the chart is pointless..can u show one chart i have ever posted where i have included where each line start and finish from..
Right sorry mate.

Those lines were connecting the tails of the daily (and/or) 4 hr candles reaction points, which were also parrallel to the top yellow line which represented a daily broken TL that had been discussed on the forum.
(attached). I honestly thought the image spoke for itself to be honest.

I'm not going to look thru your charts nAV, there's no point, I know they are good

Dinner/family time here, got to go.
Have a great weekend brother
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gu69.gif Size: 14 KB
Click to Enlarge Name: gu70.gif Size: 17 KB
Come with me if you want to live....
  • #333,634
  • Jan 11, 2013 3:05am Jan 11, 2013 3:05am
Quoting Ill-b-back
Right sorry mate.

Those lines were connecting the tails of the daily (and/or) 4 hr candles reaction points, which were also parrallel to the top yellow line which represented a daily broken TL that had been discussed on the forum.
(attached). I honestly thought the image spoke for itself to be honest.

I'm not going to look thru your charts nAV, there's no point, I know they are good

Dinner/family time here, got to go.
Have a great weekend brother
nav and i are simply godsmacked by the move we had yesterday..... no reason for it to have shot up like that.....
even if BOE held rates, it still wouldnt make sense for it to shoot up like this given the pressure BOE and UK is having...
even EUROPE is underpinning the UK....
if EUROPE recovers like this... EURGBP will fly, and UK may be downgraded.... (its way overdue anyways)
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #333,635
  • Jan 11, 2013 3:09am Jan 11, 2013 3:09am
G/M

Daily sees a 2nd fractal swing LL on the daily t/f created by yesterday's candle - a bullish thrust candle on that t/f...this t/f and a H (not fractal yet) above the last LH on that t/f. This t/f is rangy now re opa.

4hr's opa downtrend is in doubt after a HL and now a H above the last x LH's on that t/f.

1hr is in a general opa uptrend.

G/L
Attached Image (click to enlarge)
Click to Enlarge Name: DLY.jpg Size: 106 KB
ex member
  • #333,636
  • Jan 11, 2013 3:14am Jan 11, 2013 3:14am
Quoting Ill-b-back
Right sorry mate.

Those lines were connecting the tails of the daily (and/or) 4 hr candles reaction points, which were also parrallel to the top yellow line which represented a daily broken TL that had been discussed on the forum.
(attached). I honestly thought the image spoke for itself to be honest.

I'm not going to look thru your charts nAV, there's no point, I know they are good

Dinner/family time here, got to go.
Have a great weekend brother

to me wasnt obvious bro..actually i looked through my chart and am guilty for same thing sometimes
but i was more interested in knowing the starting point cause this way i have an understanding of how u use the tool..i am no better than any1 in this thread

was asking from a simply learning point of view..thanks for reply bro..u have a good one
  • #333,637
  • Jan 11, 2013 3:17am Jan 11, 2013 3:17am
Quoting fxtyrant
nav and i are simply godsmacked by the move we had yesterday..... no reason for it to have shot up like that.....
even if BOE held rates, it still wouldnt make sense for it to shoot up like this given the pressure BOE and UK is having...
even EUROPE is underpinning the UK....
if EUROPE recovers like this... EURGBP will fly, and UK may be downgraded.... (its way overdue anyways)
not really..but i dont think much has changed..USD is awaiting a breakout (i think) but it need something positive..its range is extremely tight meaning one day can change everything, yesterday news on USD claims increase market didnt like

I am finding these days news having a lot of power..byran this is the time where yur knowledge can help meh

am surprised it never drop i thought that bear flag would have been a slam dunk!! tricked
  • #333,638
  • Jan 11, 2013 3:42am Jan 11, 2013 3:42am
Quoting fxtyrant
nav and i are simply godsmacked by the move we had yesterday..... no reason for it to have shot up like that.....
even if BOE held rates, it still wouldnt make sense for it to shoot up like this given the pressure BOE and UK is having...
even EUROPE is underpinning the UK....
if EUROPE recovers like this... EURGBP will fly, and UK may be downgraded.... (its way overdue anyways)
The other scenrio is that just as you and I discussed the US debt problem and it's likely future removal as the reserve currency, people are offloading the USD while they can still get a good price.

If we can see the writing on the wall, I'm sure those crooks on Wallstreet can.

Personally, observing the bullish PA on higher timeframes for the last 12 months against what often looks like a market collapse, I get the impression people are simply not keen on holding onto USD positions for too long despite the fundamentals. They seem to be finding other areas to put their money.

The future reality of the enormous debt and bailouts/money printing/devaluation, seems to be taking its toll on the good ol' US of D
It's just my own market observance.
Come with me if you want to live....
  • #333,639
  • Jan 11, 2013 3:42am Jan 11, 2013 3:42am
Curently short from breakdown @ 38.

Targeting 6115 1st tp, then on to test 61.

Anyone think this is start of correction of yesterday? Or is this just knee jerk reaction to manufacturing figures for GBP?
  • #333,640
  • Jan 11, 2013 3:47am Jan 11, 2013 3:47am
Quoting Freshpips
Curently short from breakdown @ 38.

Targeting 6115 1st tp, then on to test 61.

Anyone think this is start of correction of yesterday? Or is this just knee jerk reaction to manufacturing figures for GBP?
I personally think..today will present a reversal..yesterday move up was the retrace..it amazes me that i see things generally opposite to some folks
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