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Cable Update (GBPUSD)

  • #333,841
  • Jan 15, 2013 11:11am Jan 15, 2013 11:11am
GU is forming a monthly triangle.
I would go at weekly short with SL @ 1.65 and would focus the weekly valleys for longs around 1.5870, 1.5500, 1.5370 by trading the daily charts.
Daily seems indifferent currently.
Weekly range 1.59/1.60 - 1.6240 since 2012.09.16. Maybe I will earn my money in this price range.
1.6126 might also be a market price for going more down (not the best entry) when you take a look at the weekly's CCI(14) divergence.
Next station to travel south at @ 1.6280, @ 1.6330.
FXcube
  • #333,842
  • Jan 15, 2013 11:49am Jan 15, 2013 11:49am
Quoting Robertk
Closed previous position at +15 and entered a new long at last touch of support.

http://i50.tinypic.com/ou6ywj.gif
That sell limit got wiped out. Cable decided to spike 15 pips more then anticipated, most likely because .61000 was nearby. Still green for today... Going to call it a day.
  • #333,843
  • Jan 15, 2013 12:45pm Jan 15, 2013 12:45pm
Jeez , Talk about a C**kblock ...Supply refuses to give way ...
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  • #333,844
  • Jan 15, 2013 1:01pm Jan 15, 2013 1:01pm
what is officialy causing the move in Eur?
90% of traders use TA, indicators and prediction
  • #333,845
  • Jan 15, 2013 1:25pm Jan 15, 2013 1:25pm
Quoting _BBKing_
what is officialy causing the move in Eur?

carefull ..i personally see usd getting quite strong..it is this causing erratic movements..
but im sure u know this already bro!!..have a good one
  • #333,846
  • Jan 15, 2013 1:30pm Jan 15, 2013 1:30pm
Quoting nAVIN2007
carefull ..i personally see usd getting quite strong..it is this causing erratic movements..
but im sure u know this already bro!!..have a good one
yes i notice prices are changing behavior!
let's see, actually Eu is still in high levels so maybe tomorrow can show some short opp.
GU better stay out. support is there. also not showing strength now.
but selling near support is stupid.
closed longs for few pips.

interesting setup beginning in Ucad.
already in with a small one, can go to 1.0800 LOL
90% of traders use TA, indicators and prediction
  • #333,847
  • Jan 15, 2013 2:25pm Jan 15, 2013 2:25pm
Quoting _BBKing_
yes i notice prices are changing behavior!
let's see, actually Eu is still in high levels so maybe tomorrow can show some short opp.
GU better stay out. support is there. also not showing strength now.
but selling near support is stupid.
closed longs for few pips.

interesting setup beginning in Ucad.
already in with a small one, can go to 1.0800 LOL
i think another setup you can consider is short aussie at about 0565 with stop at about 0575.. quite a good R/R there.. imho.
  • #333,848
  • Jan 15, 2013 3:07pm Jan 15, 2013 3:07pm
Quoting A-speculator
i think another setup you can consider is short aussie at about 0565 with stop at about 0575.. quite a good R/R there.. imho.
i left aud trading some weeks ago maybe already 2 months.
really strange instrument .... will try to give an eye.
meanwhile i still see GU trading around 6060-70
could close daily above this area.

damn market conditions.
prices going nowhere then at a certain point moving strong in a direction without any pullback.
grrrrrrrrr
90% of traders use TA, indicators and prediction
  • #333,849
  • Jan 15, 2013 5:32pm Jan 15, 2013 5:32pm
I still see cable as sell according to daily
  • #333,850
  • Jan 15, 2013 6:53pm Jan 15, 2013 6:53pm
Quoting _BBKing_
i left aud trading some weeks ago maybe already 2 months.
really strange instrument .... will try to give an eye.
meanwhile i still see GU trading around 6060-70
could close daily above this area.

damn market conditions.
prices going nowhere then at a certain point moving strong in a direction without any pullback.
grrrrrrrrr
Holy F** , am tired of Scalping GU .. Maybe , you can buy 4000 lots and Push us through Supply ..
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  • #333,851
  • Jan 16, 2013 1:10am Jan 16, 2013 1:10am
Quoting taomql4
Holy F** , am tired of Scalping GU .. Maybe , you can buy 4000 lots and Push us through Supply ..
lol

Gu is moving bad in last few sessions....
up-down but overall unchanged.
check the whole market around : CHF pairs..... Jpy pairs..... Commodities.... EUro pairs..... everything is moving and printing highs/lows/patterns..... except the GBP vs USD.

sometimes happens!
soon she will start moving again.
my 2 cents + 1 cent (tax): she will start moving on friday afternoon after NY opening time. just last 3-4 hours of the week.
90% of traders use TA, indicators and prediction
  • #333,852
  • Jan 16, 2013 2:00am Jan 16, 2013 2:00am
Took a short at 1.6040 as price was testing H1 support again. I will keep a close eye on it to see how it reacts but am looking for a break of 1.60. If broken and confirmed then 1.585 will be my take profit target.
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  • #333,853
  • Jan 16, 2013 2:09am Jan 16, 2013 2:09am
PHEW!! Took a while to get to 1.6020! Trade 1 hit target. Still holding trade that bounced down off 4hr trendline. Holding out for that Fib Expansion...
Quoting Cape Cobra
Hi all!
My 2 cents:
If Cable can close the 4hr on my chart (in 50 minutes), under 1.60700, I'm short and targetting 1.60200.
Bearish outside bar forming...previous candle was bearish engulfment, clear downtrend on 4hr. Price currently under 200SMA, 100SMA, 45SMA.
R:R = 1:1

Only thing putting me off is 1.6020 is where 4hr and daily support lies. But...then again support is there to be broken.
C.C.
  • #333,854
  • Jan 16, 2013 2:11am Jan 16, 2013 2:11am
Hopefully we see 1.5950 before NY session.
Quoting Cape Cobra
Bigger picture....targetting 61.8 Fib Expansion @1.5963
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  • #333,855
  • Jan 16, 2013 3:08am Jan 16, 2013 3:08am
I want to take a long GU from my position today
chart weekly
  • #333,856
  • Jan 16, 2013 3:10am Jan 16, 2013 3:10am
triple top!!!
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  • #333,857
  • Jan 16, 2013 3:32am Jan 16, 2013 3:32am
G/M,

downside follow thru on yesterday's bearish daily candle - so far today price reaching 77% of 20day atr at the current low...which has hit reported bids to 5995/sell stops thru 5990 apparently ?...extreme of a previous 1hr/4hr swing lo zone anyway and the 1st part of a previous daily swing lo zone too around the steepest ascending trend line on Daily

1hr/4hr are in a general opa downtrend, daily is mixed-recently bearish now.

Eu cpi data etc at 10am London time.

G/L
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ex member
  • #333,858
  • Jan 16, 2013 3:41am Jan 16, 2013 3:41am
I think that we need to put such levels for the GBP / USD key levels are 1.6357, 1.6301, 1.6274, 1.6210, 1.6176, 1.6131, 1.6108, 1.6037, 1.6026, 1.5998 and 1.5972.
  • #333,859
  • Jan 16, 2013 3:42am Jan 16, 2013 3:42am
update


Quoting Bones
gbp lfx ,now we see pattern ,bullish to bearish ,continuation wth high relabilty

After eveing star in space very High reliability (3 candle) large range
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #333,860
  • Jan 16, 2013 3:53am Jan 16, 2013 3:53am
Quoting Bones
update

cant argue with that..great analysis as always..agree
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