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Cable Update (GBPUSD)

  • #336,241
  • Feb 23, 2013 5:51am Feb 23, 2013 5:51am
Quoting fxtyrant
A bearish divergence is when you have a Lower High on Price when RSI shows a Higher Low, this is not a bearish divergence but a Bullish Continuation pattern you just drawn.
but hey atleast you got UK downgrade news to push GBPUSD down.. but GBPUSD down wasnt much of a surprised...
Hidden divergence is what I meant, I just knew it was one that suggest sell.

I missed that move down, I closed my trades at +2 as it was a Friday.
  • #336,242
  • Feb 23, 2013 6:08am Feb 23, 2013 6:08am
What are peoples thoughts on the daily chart offering up a long reversal from the large inside pin bar?

1.516 hasnt been breached by the current candle! Will this hold or do people think there will be further Bearish pressure
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusddaily.png Size: 30 KB
  • #336,243
  • Feb 23, 2013 6:25am Feb 23, 2013 6:25am
Quoting Nick35
Still Long here!!!
http://www.learntotradethemarket.com...ing-commentary
did he say where to put his stop loss?
  • #336,244
  • Feb 23, 2013 8:34am Feb 23, 2013 8:34am
Managed to catch the drop 1.5238, for how long though? GBP been hit hard lately??

Hope your long stop is pretty big if it continues trexy123??
  • #336,245
  • Feb 23, 2013 9:43am Feb 23, 2013 9:43am
Quoting trexy123
did he say where to put his stop loss?
No, but I think is 50 pips below friday low...........or close monday with a new low...
  • #336,246
  • Feb 23, 2013 10:14am Feb 23, 2013 10:14am
what we'll see first, 1.41 or 1.59?!
90% of traders use TA, indicators and prediction
  • #336,247
  • Feb 23, 2013 12:02pm Feb 23, 2013 12:02pm
1.4500 first
Quoting _BBKing_
what we'll see first, 1.41 or 1.59?!
  • #336,248
  • Feb 23, 2013 1:29pm Feb 23, 2013 1:29pm
Quoting TTTaha
1.4500 first
Likely but believe market can change if necessary.
fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #336,249
  • Feb 23, 2013 2:29pm Feb 23, 2013 2:29pm
Keep eyeing south ,bearish close ,unless gap up ,daily hammer is consolidation set up unless close over 330


Quoting _BBKing_
what we'll see first, 1.41 or 1.59?!
Attached Image (click to enlarge)
Click to Enlarge Name: gbp usd w1 23-2-13.png Size: 25 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #336,250
  • Feb 23, 2013 2:42pm Feb 23, 2013 2:42pm
failure is good to learn ,
also this is now a very good pattern to trade short off as res
Attached Image (click to enlarge)
Click to Enlarge Name: gbp usd d1 23-2-13.png Size: 24 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #336,251
  • Feb 23, 2013 4:39pm Feb 23, 2013 4:39pm
It is very clear that we will see 1.4500 . The 4 years trend was broken, Also an important support was broken . Fundamentally, Bank of England wants to exceed its QE . UK was downgraded. I think any bounce for GBP will be just a retracement then the bearish trend will continue and that is only if we have a bounce .
  • #336,252
  • Feb 23, 2013 5:27pm Feb 23, 2013 5:27pm
anddddddddddddddd jump about 80 pip in the weekend...............


http://www.forexfactory.com/attachme...8&d=1361661925

what about next asian/sidney market open ? i don't knowwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwww



Quoting iqyu5an
moody brother... moody..... 1 or 2 hour before market closing

but no need panic...

if using bollinger.. it just respect the mid bollinger ( standard setting ) and going to re test prev low first ( current 2013 low ?) around lower BB in H4 time frame

your chart reminds me about bat action magnet move or the dragon will took an action later....

just a thought..................imho and only

happy weekend for you and fam...

ahh yes..... just took my trial long in eu around 315x..as usual for longterm position brothaaaaaaaaaaaa ...
not euphoria follower
  • #336,253
  • Feb 23, 2013 5:41pm Feb 23, 2013 5:41pm
Quoting iqyu5an
anddddddddddddddd jump about 80 pip in the weekend...............


http://www.forexfactory.com/attachme...8&d=1361661925

what about next asian/sidney market open ? i don't knowwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwww
Lol.... Love the expression

Just saw your Moody's post, yes bro i see it's Moody's from some people's posts here.
Can't help but feel most is already priced in since we have dropped 1200 pips right.
We also sitting smack on a 50 fib.
Let's see what Mondays chart shows.
Watching PA but always good to have a reason behind PA for confidence (hence analysis )
More down to come I think but a significant tradable retrace something to watch for
Come with me if you want to live....
  • #336,254
  • Feb 23, 2013 5:46pm Feb 23, 2013 5:46pm
We still have lot of time for market to open. These days we are not seeing big gaps. I think no more gap at open.
Quoting iqyu5an
anddddddddddddddd jump about 80 pip in the weekend...............


http://www.forexfactory.com/attachme...8&d=1361661925

what about next asian/sidney market open ? i don't knowwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwww
When Scalpers win, I lose and Vice varsa...
  • #336,255
  • Feb 23, 2013 5:50pm Feb 23, 2013 5:50pm
hhehhehe... how're u brotha ? just having a breakfast here....

well about UK downgrade... it's not new thing...

there was a rumor about this about 2--3 days ( and market made new low for 2013 for this ) before moody say bla bla and blaaaaaaaa


soooooooo nothing to worry coz market already anticipated

but it's just imhoooooooooooo as usual

let see how monthly closing in next few days....


happy weekend bradaaaaaaaaaaaaa

Quoting Ill-b-back
Lol.... Love the expression

Just saw your Moody's post, yes bro i see it's Moody's from some people's posts here.
Can't help but feel most is already priced in since we have dropped 1200 pips right.
We also sitting smack on a 50 fib.
Let's see what Mondays chart shows.
Watching PA but always good to have a reason behind PA for confidence (hence analysis )
More down to come I think but a significant tradable retrace something to watch for
not euphoria follower
  • #336,256
  • Feb 23, 2013 5:56pm Feb 23, 2013 5:56pm
Quoting fxtyrant
Why the aggression all of a sudden? i was merely highlighting the ironies in life how things never go your way, and if they do they do at the least expected times...
yes i did call for a long on a bullish divergence but once the daily closed below previous low which is my order to long at 1.5660, and to Stop out at 1.5600...
sadly i was away from my computer during the time GBPUSD broke below 1.5600, now i got to slowly recover the account as ive done so back in december.
Oh man, I just saw history repeating itself I guess.
I read your post and firstly thought I saw some chest thumping about an imaginary call from 1.58.
This got to me.
Then saw clarification that it was a (selling) call made 6 months ago mid way between the range while still in the up phase of the move thus creating over a 500 pip drawdown before getting a result.
And I continued thinking "why the chest thumping" about a poor mid range, high drawdown call especially in light of your repeated "warnings" and "repost" about your expected divergence move to 1.59 that didn't materialize.

It seems to me you still feel the need to appear to be always right or always on the right side of the market by selectively highlighting calls to justify yourself.

It was an emotional response from me but I hope you will one day realise you don't need to have the appearance of always being right to gain respect.
Come with me if you want to live....
  • #336,257
  • Feb 23, 2013 8:02pm Feb 23, 2013 8:02pm
Quoting iqyu5an
hhehhehe... how're u brotha ? just having a breakfast here....

well about UK downgrade... it's not new thing...

there was a rumor about this about 2--3 days ( and market made new low for 2013 for this ) before moody say bla bla and blaaaaaaaa


soooooooo nothing to worry coz market already anticipated

but it's just imhoooooooooooo as usual

let see how monthly closing in next few days....


happy weekend bradaaaaaaaaaaaaa
I think being so late in the day the lack of liquidity caused this to move more than normal. Surely it was already priced in.

I took the opportunity to add more long positions as i was watching the market close.
Attached Image (click to enlarge)
Click to Enlarge Name: 223.gif Size: 25 KB
Money never sleeps...
  • #336,258
  • Feb 24, 2013 3:45am Feb 24, 2013 3:45am
Moody's cut credit rating of UK to Aa1 so we may see further weakness in gbp/usd
  • #336,259
  • Feb 24, 2013 4:37am Feb 24, 2013 4:37am
I know this is the GU thread, but I would like to bring your attention to another GBP cross: GBP/NZD

Since the beginning of 2009, the pound has lost over 10.000 (yes, 10.000) pips against the NZD, and has now cleared its all time historical low of 1.8632. In other words there is no known support at present levels, and or there is no more bottom for the pair:

Attached Image (click to enlarge)
Click to Enlarge Name: GBPNZDMonthly.png Size: 63 KB


GBP/NZD Historical Monthly

IMO this offers a unique opportunity which should not be ignored, if not for a trade, then at least for educational purposes.

What is the future "real value" of the pair, and who will buy at levels which are singularly uncharted? Of course as long GBP continues to tumble against its counterparts, it's highly likely that this cross will decline, but just where is the bottom now?

AUD/USD did the same thing in 2010/2011 to the upside, and I'm sure if you look for other examples of break outs from historical levels you'll find them. You will also notice that each break gives at least a couple hundred pips continuation, with a reversal opportunity.

Sorry for the thread-jack, but I think it was worthy of a mention.
  • #336,260
  • Feb 24, 2013 5:06am Feb 24, 2013 5:06am
gbp/nzd : just kind of carry trade ..not more


Quoting Cuso
I know this is the GU thread, but I would like to bring your attention to another GBP cross: GBP/NZD

Since the beginning of 2009, the pound has lost over 10.000 (yes, 10.000) pips against the NZD, and has now cleared its all time historical low of 1.8632. In other words there is no known support at present levels, and or there is no more bottom for the pair:

Attachment

GBP/NZD Historical Monthly

IMO this offers a unique opportunity which should not be ignored, if not for a trade, then at least for educational...
not euphoria follower
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