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Cable Update (GBPUSD)

  • #335,921
  • Feb 18, 2013 4:52am Feb 18, 2013 4:52am
Quoting 100PipsADay
Good morning Chris!

If we are seeing our retrace then I would expect to see 1.566 again in the near future before resuming it's new down trend.
Good morning Terry,

Yes that would be the very top. I just posted above 5600/40 as to trade the touch would, in my mind, be very aggressive and close to "picking tops". Not that it wouldn't work but I'd wait for the actual bounce (if it even gets there) before committing me thinks.

Also, check that TL you have there. It "looks" like it's a touch above the previous wick? Also, would not that 20MA drop a bit more as it gets there? I don't use that MA so just asking but I assume it's a rather fast one?
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Ghost Rider - WWTBMD?
  • #335,922
  • Feb 18, 2013 6:08am Feb 18, 2013 6:08am
GBP net positions - short for the first time in 5 months according to CFTC, only second to Yen. 1.5475 is the current resistance.
  • #335,923
  • Feb 18, 2013 8:10am Feb 18, 2013 8:10am
I'm a day trader and do not leave position open over the weekend. I just shorted now for 1.5426 target. Slow day though but still good pips.
  • #335,924
  • Feb 18, 2013 12:04pm Feb 18, 2013 12:04pm
If the price holds above 5400 this weeks candle can possibly become a doji by next week.
Impossible = 0
  • #335,925
  • Feb 18, 2013 2:32pm Feb 18, 2013 2:32pm
Quoting albchr
Nope, that's actually a good observation in my view. With US banks closed I won't be looking to place any trades on US pairs today. I will however be interseted to see where the daily closes. If it stays (or closes) above 5450ish, I think a test of that 4 year triangle (weekly) might just happen. I'm hoping it does and holds as it would make for a great short oppertunity between 5600/5640ish.

As of now, this is a rather lack luster "bounce" off the 5450 area....
I've been waiting and itching to short the bi**h for so long now. I hope too that it goes up to re-test the trendline. This mofo stopped me out at 1.5830 while I was heavy short from 1.5750 to make a 400 pip move to 1.5450. I've been waiting for the revenge.
  • #335,926
  • Feb 18, 2013 2:43pm Feb 18, 2013 2:43pm
Quoting nahman
GBP net positions - short for the first time in 5 months according to CFTC, only second to Yen. 1.5475 is the current resistance.
Indeed.

http://www.businessinsider.com/soros...#ixzz2LHaIQpyv
  • #335,927
  • Feb 18, 2013 7:14pm Feb 18, 2013 7:14pm
1.55 is a must this week
  • #335,928
  • Feb 18, 2013 7:33pm Feb 18, 2013 7:33pm
Quoting albchr
Good morning Terry,

Yes that would be the very top. I just posted above 5600/40 as to trade the touch would, in my mind, be very aggressive and close to "picking tops". Not that it wouldn't work but I'd wait for the actual bounce (if it even gets there) before committing me thinks.

Also, check that TL you have there. It "looks" like it's a touch above the previous wick? Also, would not that 20MA drop a bit more as it gets there? I don't use that MA so just asking but I assume it's a rather fast one?
just plain eyeball, looks like we are gonna be stuck in this price again for some 2 weeks.. so the 5692/5709 retracement may just be attainable for the next drop
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  • #335,929
  • Feb 19, 2013 12:35am Feb 19, 2013 12:35am
why GU thread is dead? no one trades this important currency?
Cut losses and let the profit run....
  • #335,930
  • Feb 19, 2013 12:44am Feb 19, 2013 12:44am
Quoting Khalifah
why GU thread is dead? no one trades this important currency?
all of us do we are so busy that do not have time to post our ideas
Loosening is not an option
  • #335,931
  • Feb 19, 2013 1:09am Feb 19, 2013 1:09am
Quoting Vilkas
all of us do we are so busy that do not have time to post our ideas
not correct, the pair herself is not liquid. Been holding a short for 5410 since last Thursday; this is Tuesday on a new week and last week's trade is still open. I guess GU is in a flat trend now.
  • #335,932
  • Feb 19, 2013 2:50am Feb 19, 2013 2:50am
seems to me it wants to touch 1.56 today or tomorrow. would be nice to take out some shorters out of this forum. 1.53 huh. some of them were shouting.

don't think so
  • #335,933
  • Feb 19, 2013 2:58am Feb 19, 2013 2:58am
for those who don't know me I am Nachiket. used to be part of this forum
  • #335,934
  • Feb 19, 2013 3:11am Feb 19, 2013 3:11am
Quoting pound trader
seems to me it wants to touch 1.56 today or tomorrow. would be nice to take out some shorters out of this forum. 1.53 huh. some of them were shouting.

don't think so
1.5510 is big resistance. Will need to break and hold to see 1.56. Time will tell.
  • #335,935
  • Feb 19, 2013 3:12am Feb 19, 2013 3:12am
Diamond like swing after swing continues still for a pressure down , very smaller though & easy to avoid for the market but still intact. lets see if 5507 can able breaks up for next break 5542 to invalid or failure to continue more down may be with more strength over 5393/5268 next levels !!
fontu
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #335,936
  • Feb 19, 2013 3:29am Feb 19, 2013 3:29am
I think 5507 is not that of a prob as is 5512 or 5520 for that matter. I am watching those levels but after a long time intraday charts are looking good for a rally

One of my trader friend is even calling for 1.58 by weekend. I wouldn't go that far.
  • #335,937
  • Feb 19, 2013 3:37am Feb 19, 2013 3:37am
I added one more long position yesterday, I still try to catch retracement. Stop at BE
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  • #335,938
  • Feb 19, 2013 3:44am Feb 19, 2013 3:44am
i'm waiting for something good to allow me for a long position, or a pullback to short higher.
here's my complete view about GBP USD

if interested, also something in:

EUR USD
USD JPY

more in my channel.

tks
90% of traders use TA, indicators and prediction
  • #335,939
  • Feb 19, 2013 3:56am Feb 19, 2013 3:56am
GU H1

chanced a little long here off the LO candle

nothing in my channel, sorry
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  • #335,940
  • Feb 19, 2013 4:04am Feb 19, 2013 4:04am
a bit off topic
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