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Cable Update (GBPUSD)
- #334,801
- Jan 27, 2013 3:07am Jan 27, 2013 3:07am
- Joined May 2011 | Status: Get to the Chopper | 17,905 Posts
- #334,802
- Jan 27, 2013 3:15am Jan 27, 2013 3:15am
- Joined May 2011 | Status: Get to the Chopper | 17,905 Posts
Whoever has the most cash in a world starved of cash, whoever has the least debt in a world drowning in debt, whoever is loaded up with natural resource assets that will be needed to fuel the recovery that follows every crash.
Come with me if you want to live....
- #334,803
- Jan 27, 2013 8:46am Jan 27, 2013 8:46am
- | Commercial User | Joined Jan 2013 | 1,169 Posts
Hello all,
this is my first analysis posted in this thread. Please let me have your comments:
I believe price of GBPUSD is at support and now due for a retracement higher at least into the 1.5860 area. This does not look like support from long participants, but price is rather supported but short covering on the smaller timeframe after price hit the second target around 1.5760.
The previous short setup with resistance at 1.6170-80 worked fine and brought prices into the 1.5900 area (1st target) and then the 1.5760 area (2nd target).
I now see two possible scenario developing (see below picture):
Scenario 1. Price climbs back into the 1.5860 area (due to short-covering) where it finds strong resistance and starts a continuation lower into 1.5690 (1st target) and then 1.5600 (2nd target)
Scenario 2. Price moves above the 1.5900 level (helped by new longs) breaking the sequence of extension moves lower and then retraces. Depending on where it prints the relative high (above 1.5910) it could retrace down into the 1.5830 area before continuing higher.
Let me know your thoughts.
Cheers
this is my first analysis posted in this thread. Please let me have your comments:
I believe price of GBPUSD is at support and now due for a retracement higher at least into the 1.5860 area. This does not look like support from long participants, but price is rather supported but short covering on the smaller timeframe after price hit the second target around 1.5760.
The previous short setup with resistance at 1.6170-80 worked fine and brought prices into the 1.5900 area (1st target) and then the 1.5760 area (2nd target).
I now see two possible scenario developing (see below picture):
Scenario 1. Price climbs back into the 1.5860 area (due to short-covering) where it finds strong resistance and starts a continuation lower into 1.5690 (1st target) and then 1.5600 (2nd target)
Scenario 2. Price moves above the 1.5900 level (helped by new longs) breaking the sequence of extension moves lower and then retraces. Depending on where it prints the relative high (above 1.5910) it could retrace down into the 1.5830 area before continuing higher.
Let me know your thoughts.
Cheers
"markets traded by programs/HFT offer a significant trading edge..."
- #334,805
- Edited 12:33pm Jan 27, 2013 12:02pm | Edited 12:33pm
- Joined Mar 2008 | Status: Name real with real own way | 23,413 Posts
Not understand?better not follow my analyses!doubt clearer first, risks ++
- #334,806
- Jan 27, 2013 1:03pm Jan 27, 2013 1:03pm
- Joined Jan 2009 | Status: Per Aspera Ad Astra | 6,262 Posts
Hello all,
this is my first analysis posted in this thread. Please let me have your comments:
I believe price of GBPUSD is at support and now due for a retracement higher at least into the 1.5860 area. This does not look like support from long participants, but price is rather supported but short covering on the smaller timeframe after price hit the second target around 1.5760.
The previous short setup with resistance at 1.6170-80 worked fine and brought prices into the 1.5900 area (1st target) and then the 1.5760 area (2nd target).
I...
- #334,815
- Jan 28, 2013 1:57am Jan 28, 2013 1:57am
- | Commercial User | Joined Jan 2013 | 1,169 Posts
"markets traded by programs/HFT offer a significant trading edge..."
- #334,817
- Jan 28, 2013 2:31am Jan 28, 2013 2:31am
- Joined May 2011 | Status: Get to the Chopper | 17,905 Posts
Come with me if you want to live....
- #334,818
- Jan 28, 2013 2:37am Jan 28, 2013 2:37am
- | Commercial User | Joined May 2012 | 3,285 Posts
GBP/USD Weekly - 10 Year Chart
4-Year Symmetrical Triangle
This pattern is getting so tightly squeezed, a breakout is imminent. This means that GBP/USD will breakout into a new multi-year trend after having been stuck in a four-year range. Which way will the she go, up or down?
My money is on a breakout to the downside but will wait to see what happens, currently flat on GBP/USD.
http://sovereignsociety.com/files/20...I-Graph-16.png
Looking for input and opinions about this 4-Year symmetrical triangle pattern for GBP/USD. Looks as though we are pretty close to the lower ascending TL which according to my chart is @ 1.5675.
What would be a good confirmation if broken? Weekly close? Monthly close? Do many here think this pattern holds any significance? Just curious and looking for others' input.
My opinion is that we would need a monthly close below ascending TL.
- #334,819
- Jan 28, 2013 2:46am Jan 28, 2013 2:46am
- Joined May 2011 | Status: Get to the Chopper | 17,905 Posts
Looking for input and opinions about this 4-Year symmetrical triangle pattern for GBP/USD. Looks as though we are pretty close to the lower ascending TL which according to my chart is @ 1.5675.
What would be a good confirmation if broken? Weekly close? Monthly close? Do many here think this pattern holds any significance? Just curious and looking for others' input.
My opinion is that we would need a monthly close below ascending TL.
Come with me if you want to live....
- #334,820
- Jan 28, 2013 3:05am Jan 28, 2013 3:05am
- | Commercial User | Joined May 2012 | 3,285 Posts
I agree
I'm still flat on GBP/USD though, waiting for a good setup.