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Cable Update (GBPUSD)

  • #335,081
  • Feb 3, 2013 4:52am Feb 3, 2013 4:52am
Hello,

This will be the currency pair GBP / USD back up to 1.59 or it will fall? I think it fell down quickly and Stochastic 30M, 1H, 4H is oversold and daily goes up, Stochastic 30M lying on the floor.
  • #335,082
  • Feb 3, 2013 6:09am Feb 3, 2013 6:09am
Quoting nAVIN2007
yes u pretty much some up what im thinking..i didnt expect to see friday i as in small profit now big loss..movement was nuts
- Hi navin

- I think E/G is the problem as bbking said, he is going berserk.

- On Friday alone, he managed to pop up 150 pips, up normal at all.

- If I had your positions, I would close them on a loss or a win (it depends on your entry) @ 1.5800 or if we go to 1.5869

- Even though I'd like to long pound cheap, but I will only consider it when we visit 78.6 Fibo retracememt level on E/G weekly chart.

- And the best trade for me is to long E/G on a retracement, its more safer than longing the pound (going with the fundamentals).

- Cheers.
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  • #335,083
  • Feb 3, 2013 6:15am Feb 3, 2013 6:15am
- I think this post also explains alot: http://www.forexfactory.com/showthre...68#post6406668

- GL.
  • #335,084
  • Feb 3, 2013 7:03am Feb 3, 2013 7:03am
Very weak sentiment at the moment in the GBP, on the contrast still very strong.
  • #335,085
  • Feb 3, 2013 11:59am Feb 3, 2013 11:59am
Southbound alert, looking for retrace to get on board to 5300
  • #335,086
  • Feb 3, 2013 12:52pm Feb 3, 2013 12:52pm
Quoting Ziko9o8
[font=Verdana][size=2]- Hi navin

- I think E/G is the problem as bbking said, he is going berserk.

- On Friday alone, he managed to pop up 150 pips, up normal at all.

- If I had your positions, I would close them on a loss or a win (it depends on your entry) @ 1.5800 or if we go to 1.5869

- Even though I'd like to long pound cheap, but I will only consider it when we visit 78.6 Fibo retracememt level on E/G weekly chart.

- And the best trade for me is to long E/G on a retracement, its more safer than longing the pound...
I agree. The correlation between EU and GU is totally whacked up. Last monthly was crazy and broke the weekly/monthly trendline like a piece of cake. I ain't seeing it braking until 0.90 and maybe give it a couple of months.

As for GU only, 1.565 may turn out to be a strong level to break (just as 1.59) and medium term (like 2 weeks or so) it might retrace to even 1.585 - 1.59 again before trying to go lower again. Trying to consider some worst case scenarios. And those are the ones that usually play out when we are least expecting.
  • #335,087
  • Feb 3, 2013 4:04pm Feb 3, 2013 4:04pm
Shorted @ 5834 on friday. It was a nice entry. Holding shorts with no target as of now.
When Scalpers win, I lose and Vice varsa...
  • #335,088
  • Feb 3, 2013 4:53pm Feb 3, 2013 4:53pm
a nice Cheeky Monday long i took aiming for a pullback to 1.5750 Daily Pivot before the next move....
We live in a finite world with infinite possibilities.
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  • #335,089
  • Feb 3, 2013 4:55pm Feb 3, 2013 4:55pm
Quoting CasperTrader
I agree. The correlation between EU and GU is totally whacked up. Last monthly was crazy and broke the weekly/monthly trendline like a piece of cake. I ain't seeing it braking until 0.90 and maybe give it a couple of months.

As for GU only, 1.565 may turn out to be a strong level to break (just as 1.59) and medium term (like 2 weeks or so) it might retrace to even 1.585 - 1.59 again before trying to go lower again. Trying to consider some worst case scenarios. And those are the ones that usually play out when we are least expecting.
- I totally agree with you to expect the unexpected.

- GL.
  • #335,090
  • Feb 4, 2013 1:26am Feb 4, 2013 1:26am
take a look
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  • #335,091
  • Edited 4:24am Feb 4, 2013 3:45am | Edited 4:24am
Ok , next daily & daily candle s to confirm the situation , eu by this time to correct , limits 3404 & 3304 , if breaks both start the down towards base again .
now gu having limit up for the down is 5807 ,5783 ok , breaks will go if by chance to the previous levels 5892 & limit again 5992.
fontu
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #335,092
  • Feb 4, 2013 5:01am Feb 4, 2013 5:01am
here's my ideas on
GBP USD
EUR USD

if interested... some5 minutes on, where recently price moved quite nice!
CAD CHF
GBP CHF

90% of traders use TA, indicators and prediction
  • #335,093
  • Feb 4, 2013 5:21am Feb 4, 2013 5:21am
Quoting fxtyrant
a nice Cheeky Monday long i took aiming for a pullback to 1.5750 Daily Pivot before the next move....
- Great call.
  • #335,094
  • Feb 4, 2013 9:54am Feb 4, 2013 9:54am
Quoting fxtyrant
a nice Cheeky Monday long i took aiming for a pullback to 1.5750 Daily Pivot before the next move....
Whey.... Taken Profit funny enough
Pepperstone showed a high for GBPUSD at 1.57511
while
FX Pro showed a high for GBPUSD at 1.57499..... (FXPRO shady??)

anyways done with my cheeky 50 pip long
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #335,095
  • Feb 4, 2013 11:22am Feb 4, 2013 11:22am
Quoting fxtyrant
Whey.... Taken Profit funny enough
Pepperstone showed a high for GBPUSD at 1.57511
while
FX Pro showed a high for GBPUSD at 1.57499..... (FXPRO shady??)

anyways done with my cheeky 50 pip long

Good Job .
If I am planning to sell on a retest to pivot level 1.5750, any advise you can share it with me?
Winning isn't Everything...Winning is THE ONLY THING
  • #335,096
  • Feb 4, 2013 11:24am Feb 4, 2013 11:24am
Ok so far, gu with a cup & handle formation ( bull continuation pattern) bounce in show but in very tight ranges , only 60 pips !! out of 179 yesterday fall. At least keeping the intention here for up correction with hardship unlike eu correcting down. gu price below 5723 & 5707 will take it as failure more up perhaps at least now & below 5692 will confirm + 5664 breaks & hold tank down. no trade in gu today but in eu short there .
thanks ,
fontu
Attached Image (click to enlarge)
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #335,097
  • Feb 4, 2013 4:15pm Feb 4, 2013 4:15pm
Quoting omar79
Good Job .
If I am planning to sell on a retest to pivot level 1.5750, any advise you can share it with me?
my advice is.... dont sell on a retest UNLESS it manages to break and confirm below pivot....
my advice right now is actually to LONG GBPUSD on a retest of 1.5750/60 level
as im getting a Daily RSI Divergence Signal and Daily pivot should be the best place to place the long entry...
The Long GBPUSD would be targeting a Profit target of up to 1.5950.
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #335,098
  • Feb 4, 2013 9:57pm Feb 4, 2013 9:57pm
Quoting fontu
Ok so far, gu with a cup & handle formation ( bull continuation pattern) bounce in show but in very tight ranges , only 60 pips !! out of 179 yesterday fall. At least keeping the intention here for up correction with hardship unlike eu correcting down. gu price below 5723 & 5707 will take it as failure more up perhaps at least now & below 5692 will confirm + 5664 breaks & hold tank down. no trade in gu today but in eu short there .
thanks ,
fontu
hi mate, not sure if we can correct more to the upside.. i have a pending at 5780 but missed it by about 10 pips..

that long bear candle seems saying that more downside is possible.. afterall, cable has been trending down for sometime now..
  • #335,099
  • Feb 4, 2013 9:58pm Feb 4, 2013 9:58pm
Quoting omar79
Good Job .
If I am planning to sell on a retest to pivot level 1.5750, any advise you can share it with me?
Would not sell without confirmation. As posted here over the weekend, looks like abc flat correction on daily. So, question is running, flat, or expanded?

Based on tl and gann line, I would say that a running flat is most likely targeting 1.5834 on Gann, lower if it respects first supply level and tl at 1.5825.

Could get a simple flat on double top pinbar at 1.5873. Expanded would get you to the next supply level of 1.5953 that fxtyrant alluded to.

Point is I would not simply look to short it at 1.5750 and would watch these levels here for signs of reversal and break if so inclined.

Good luck. Pretty bearish chart and impressive move down, so odds would favor a running or simple flat. An expanded would get you to 1.5950 level but has to break through some pretty tough resistance and still bearish, so I would not expect it.
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  • #335,100
  • Feb 5, 2013 2:18am Feb 5, 2013 2:18am
Let's play morning Quiz.

How will look like today GU daily candle?

choose one of five!! i say NR 2
Attached Image
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