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Cable Update (GBPUSD)

  • #335,441
  • Feb 11, 2013 11:13am Feb 11, 2013 11:13am
Quoting taomql4
I was just kidding with BBking ..lol - I have my own Gita ..


http://www.youtube.com/watch?v=GUsuqdqMv5Q
90% of traders use TA, indicators and prediction
  • #335,442
  • Feb 11, 2013 12:31pm Feb 11, 2013 12:31pm
Quoting e.trader
I believe short will hit 5665 today... could be more but 5665 is all I see!


it did. Till later Traders.
  • #335,443
  • Feb 11, 2013 12:46pm Feb 11, 2013 12:46pm
Quoting taomql4
Should have posted the 4hr chart Yesterday .. Price could not get above the 20 days old Point of control ( POC - High Volume..) inside the 4 hr/day supply ( ..inside 15 days Supply..) ..Will see how much energy the 2 weeks demand still has .. ..Gotta watch the Virgin POC @ 1.5661 inside 2 wks demand..
ok . lets see , situation unchanged from that of morning . fontu
Attached Image (click to enlarge)
Click to Enlarge Name: gu1.gif Size: 13 KB
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #335,444
  • Feb 11, 2013 1:17pm Feb 11, 2013 1:17pm
Quoting e.trader
it did. Till later Traders.
what u think eur/usd target 1.33200 by 2 morrow
  • #335,445
  • Feb 11, 2013 2:46pm Feb 11, 2013 2:46pm
Quoting peter123
what u think eur/usd target 1.33200 by 2 morrow

oh I wish this would be true
Loosening is not an option
  • #335,446
  • Feb 11, 2013 4:05pm Feb 11, 2013 4:05pm
Quoting _BBKing_
You Should run for Pope !!!
You have my Vote ..
  • #335,447
  • Feb 11, 2013 4:36pm Feb 11, 2013 4:36pm
Quoting taomql4
You Should run for Pope !!!
You have my Vote ..

Attached Image
90% of traders use TA, indicators and prediction
  • #335,448
  • Feb 11, 2013 5:05pm Feb 11, 2013 5:05pm
'da cable is now touching 'da weekly trendline 5646
90% of traders use TA, indicators and prediction
  • #335,449
  • Feb 11, 2013 5:15pm Feb 11, 2013 5:15pm
Quoting fontu
ok . lets see , situation unchanged from that of morning . fontu
fontu!
long time no see you around here
90% of traders use TA, indicators and prediction
  • #335,450
  • Feb 11, 2013 5:37pm Feb 11, 2013 5:37pm
Quoting _BBKing_
'da cable is now touching 'da weekly trendline 5646
Time to buy Gbp/Usd again perhaps ?
prepare for worst & expect the best
  • #335,451
  • Feb 11, 2013 6:59pm Feb 11, 2013 6:59pm
Hmm..

I won't long it here, still aiming 1.53

will short below Resistance @1.56

i.e pending short 1.558 sl 1.561 tp 1.552

risk:return is favourable

PS: Old chart, but still applies
Attached Image (click to enlarge)
Click to Enlarge Name: GU ABCD Pattern.PNG Size: 65 KB
Even the worst trade can close with profit. Just give it time.
  • #335,452
  • Feb 11, 2013 9:42pm Feb 11, 2013 9:42pm
I had pretty strong short position when this mofo stopped me out at 5830. Now it just wants to go straight down without me.
  • #335,453
  • Feb 12, 2013 12:45am Feb 12, 2013 12:45am
Quoting _BBKing_

I think you better stick with trading
Loosening is not an option
  • #335,454
  • Feb 12, 2013 1:16am Feb 12, 2013 1:16am
there can be one of these options, there can be absolutely another
Attached Image
  • #335,455
  • Feb 12, 2013 2:35am Feb 12, 2013 2:35am
Quoting PskovFX
there can be one of these options, there can be absolutely another
I wish cable follow red line. LOL.

  • #335,456
  • Feb 12, 2013 2:39am Feb 12, 2013 2:39am
Quoting PskovFX
there can be one of these options, there can be absolutely another
Something to consider

AB=CD Pattern, targeting 1.53
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD 1.53.PNG Size: 67 KB
Even the worst trade can close with profit. Just give it time.
  • #335,457
  • Feb 12, 2013 3:09am Feb 12, 2013 3:09am
Quoting John Gray
Something to consider

AB=CD Pattern, targeting 1.53

yes if nothing will change on fundamentals, 1.53 will be met.
let's see. i'm still out of cable.
don't like actual situation.
of course, will be looking for a short. but will then wait how price develops
90% of traders use TA, indicators and prediction
  • #335,458
  • Feb 12, 2013 3:22am Feb 12, 2013 3:22am
Quoting John Gray
Something to consider

AB=CD Pattern, targeting 1.53
Hi John,

I have been thinking that 1.53 would be met in the near future as well and was saying this since late December. However, I don't think we will be heading back up to 1.58 again like we did during the past 2 and a half years.

Trading GBP/USD for the past 2 years was as easy as finding weekly support / resistance at 1.53 - 1.63 as Cable was stuck in basically a 1000 pip range. Support / Resistance for the pound was very easy to trade from a weekly perspective.

HOWEVER, we are now on the verge of breaking and closing below a 4-Year symmetrical triangle! My thinking is that if we close below this level from a weekly perspective then we will be heading much much much lower in the coming months. This may sound a little far fetched for some here but once we break this 4-year symmetrical triangle we could easily see 1.42 and possibly even go as low as 1.33 in the near future.

This week is CRITICAL for Cable and could determine the main direction of a new trend for the coming months, which is obviously down. Don't get me wrong, 1.53 is still significant and we will definitely see some sort of bounce at that point. But I find it almost impossible to head right back into the range which we have been stuck in for the past 2-3 years...

**I have been very generous with my Trend Lines by using only the wicks of the weekly candles**
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD_-_Weekly_(2-11).jpg Size: 71 KB
  • #335,459
  • Edited 4:01am Feb 12, 2013 3:37am | Edited 4:01am
Quoting fontu
ok . lets see , situation unchanged from that of morning . fontu
crushing market has no sense actually ,tanking on extension continues , was very expected but now doing unexpectedly . ok . Got no chance correction in gu , smallest to big wave down so far .
so anytime there should be correction chance or effort anytime. now watching 5590 if actually hold or not while taking 5550 possible range down .
Perhaps except audusd other allied pairs on probable support now , eu,gu,gold & uadcad resistance .Remembering crushing has no father or any mother & so not to involve myself much with all lucks.
lets see .
fontu
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gu1.gif Size: 18 KB
Click to Enlarge Name: gu2.gif Size: 16 KB
Click to Enlarge Name: gu3.gif Size: 12 KB
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #335,460
  • Feb 12, 2013 3:38am Feb 12, 2013 3:38am
9:25AM london
retrace confirmed
looking for short reentry @ 5600
will enter when pivot confirms
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