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Cable Update (GBPUSD)

  • #336,921
  • Mar 13, 2013 10:13am Mar 13, 2013 10:13am
Quoting smikester
That is funny. But yet, this week is up and we are overdue a retracement. I know you can hold your trades for years Navin so I suppose you will be buying right down to 1.00?
im expecting this to be the bottom..according to my analysis im still a long term bull..but if it breaks lower need an exit plan reduce damage..cable needs to reduce movement to this range 15150 -1.48 till end of month..i doubt it will break 1.5150 this month ..so for now 1.48 needs to hold
  • #336,922
  • Mar 13, 2013 10:28am Mar 13, 2013 10:28am
Quoting C345
This week is not up its more or less where it started. Anyway sorry to interrupt guys I go away. Happy trading.
Yes it is up 9 pips according to my feed. (GMT) But I agree it is more or less where it started. Nice to meet you C345 and you can give me the nine pips at 1 lot please. That will be £90.00 (more or less). Good trading to you.
Gone to a better place
  • #336,923
  • Mar 13, 2013 10:30am Mar 13, 2013 10:30am
Quoting nAVIN2007
im expecting this to be the bottom..according to my analysis im still a long term bull..but if it breaks lower need an exit plan reduce damage..cable needs to reduce movement to this range 15150 -1.48 till end of month..i doubt it will break 1.5150 this month ..so for now 1.48 needs to hold

I wouldn't be surprised if we retest 1.52 at some stage.
Gone to a better place
  • #336,924
  • Mar 13, 2013 10:33am Mar 13, 2013 10:33am
Quoting smikester
Yes it is up 9 pips according to my feed. (GMT) But I agree it is more or less where it started. Nice to meet you C345 and you can give me the nine pips at 1 lot please. That will be £90.00 (more or less). Good trading to you.
lol mine says + 2 but who can trust them. Anyway nice to meet you too.
  • #336,925
  • Mar 13, 2013 10:38am Mar 13, 2013 10:38am
seem like now 1.491 hold nicely.
  • #336,926
  • Mar 13, 2013 11:03am Mar 13, 2013 11:03am
There is a lovely bearish engulfing candle on my 4hr chart. They don't get much more perfect than that, other than a bit more free space to the left of it.

Attached Image (click to enlarge)
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  • #336,927
  • Edited 2:51pm Mar 13, 2013 2:36pm | Edited 2:51pm
No that the correction expected actually failing to tank further yet but sign-symptom in favor it , gu , eu , even gold ( waiting see breaks 1584/3 breaks ( so far escaped but think it can ) to down 73-61 again or if possible a spike up somehow to 1620!! ) . usdchf & usdcad not so bullish at this level , was expected them correct but not able yet . gu broken 4966 but important 4981 & 85 intact .
usdchf trying a bull one step may be .
Though I am personally bear side for the time but can somehow turmoil at top also, so not risk free .
lets see .
fontu
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: eurusdh1.png Size: 32 KB
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #336,928
  • Mar 13, 2013 3:04pm Mar 13, 2013 3:04pm
Quoting blobsaudio
There is a lovely bearish engulfing candle on my 4hr chart. They don't get much more perfect than that, other than a bit more free space to the left of it.

Attachment
good see in a mere correction though for a wave as last leg down & very small part of the whole situation , carry on . analysis can be like this for the cause-effects.
fontu
Attached Image
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #336,929
  • Mar 13, 2013 3:57pm Mar 13, 2013 3:57pm
new pope from argentina will bring on issue of Falkland islands again.

This is GBP bearish as there is no good scenario for uk. Broke and on defence.
  • #336,930
  • Mar 13, 2013 4:53pm Mar 13, 2013 4:53pm
Watching shaded area for bearish PA
Attached Image (click to enlarge)
Click to Enlarge Name: gu1.gif Size: 16 KB
Come with me if you want to live....
  • #336,931
  • Mar 13, 2013 4:57pm Mar 13, 2013 4:57pm
Quoting blobsaudio
There is a lovely bearish engulfing candle on my 4hr chart. They don't get much more perfect than that, other than a bit more free space to the left of it.

Attachment
Next 2 candles belong to Asian session. May not get the same volatility =)
  • #336,932
  • Mar 13, 2013 5:28pm Mar 13, 2013 5:28pm
Quoting chazzle
ching!

Plus! Free bonus chart included (nb.doesn't fully work for trading one's own account)

Makes sense

I don't think this is the bottom, more bears to come I think.
Come with me if you want to live....
  • #336,933
  • Mar 13, 2013 5:49pm Mar 13, 2013 5:49pm
Quoting seaman2
new pope from argentina will bring on issue of Falkland islands again.

This is GBP bearish as there is no good scenario for uk. Broke and on defence.
Popes generally avoid potentially sensitive statements. Their job is too bring people together, not start arguments or inflame situations.

Agree with the UK bearish scenario though throughout 2013.
Money never sleeps...
  • #336,934
  • Mar 13, 2013 8:12pm Mar 13, 2013 8:12pm
Quoting Ill-b-back

Makes sense

I don't think this is the bottom, more bears to come I think.

Me neither, just entered short from 1.4945 aiming for 1.4904
Money never sleeps...
  • #336,935
  • Mar 13, 2013 8:21pm Mar 13, 2013 8:21pm
Very true, but to predict a small move is probably due to the time frame you use.. Try looking at the the weekly and you see what i mean.. Much more probability and much less noise but instead predictions are more for 500 pips or more.. I trade the weekly often and can get as much as 1000 pips on occasions and not so interested in the smaller time frames.. Much prefer big moves for my money.. Less stressful to me and less risk as well..

As an example a bullish or bearish engulfing candles or pinbars on weekly chart tends to suggest a much bigger move or trend change as can be seen on the charts on all pairs.. Depends though on what sort of trader you are like you say below..

Regards,

Quoting nAVIN2007
not hard to predict..some will look at this and see exactly why it is doing what it is doing..its knowledge which isnt adequate

i personally see on the 4hr a broken wedge..and pullback to breakout point.. now this particular setup makes it the last 4hr candle risky for breaking lower..will it break lower or hold..no idea

this is why trading is hard..technicals can only take u to a point..and belief in your ability determines the rest
your job is see the pits loaded with explosive..here is a mine

nobody can predict just forecast!!
  • #336,936
  • Mar 13, 2013 8:28pm Mar 13, 2013 8:28pm
I am watching the same, but with caution as my bias is more bullish than bearish at weekly lows if we get a daily close up here.. Could be getting close to bottom and 1.53 area may be the next move up from here at least.. Heck we may even if it breaks up there go back to 1.60 to 1.70.. Depends on what the banks want to do..

We all have to be careful when currency pairs are over devalued and at weekly lows.. A reversal of major trend is very common at these price zones...

Regards,

Quoting Ill-b-back
Watching shaded area for bearish PA
  • #336,937
  • Mar 13, 2013 8:33pm Mar 13, 2013 8:33pm
Quoting tinny79
I am watching the same, but with caution as my bias is more bullish than bearish at weekly lows if we get a daily close up here.. Could be getting close to bottom and 1.53 area may be the next move up from here at least.. Heck we may even if it breaks up there go back to 1.60 to 1.70.. Depends on what the banks want to do..

We all have to be careful when currency pairs are over devalued and at weekly lows.. A reversal of major trend is very common at these price zones...

Regards,
I dont believe the pound has been over devalued. It has more down to come IMO
Money never sleeps...
  • #336,938
  • Mar 13, 2013 9:09pm Mar 13, 2013 9:09pm
I have noticed that during Asian trading hours the market will move in a direction and then return to where it was when it began and sometimes go past the opening price and back again.

What im trying to say is that it seems a good time to trade for smallish 10 pip targets after the market has moved maybe 20 to 30 pips from the start.

For example, today we have risen 30 pips and it seems we are now back on the descent (likely back to below 1.4925).

Am i just tired or does this seem a credible phenomenon?
Money never sleeps...
  • #336,939
  • Mar 13, 2013 9:30pm Mar 13, 2013 9:30pm
I have noticed that as well. Interesting.
  • #336,940
  • Mar 13, 2013 9:42pm Mar 13, 2013 9:42pm
hello guys! Greetings from Houston. I am short from 1.4942 and also 1.4965 TP around 1.4920.
Attached Image (click to enlarge)
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