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Cable Update (GBPUSD)

  • #337,101
  • Mar 17, 2013 2:58am Mar 17, 2013 2:58am
Quoting 100PipsADay
The Red is 20 EMA and the Blue is 50 EMA. A cross over is obviously a "lagging" indicator but generally confirms further movement in that particular direction.

I have not included the Williams Percent Range indicator as they come with most (if not all) MT4 platforms. Let me know if you need any help setting it up.

Thanks that's fantastic I should be ok to set them up.

Yes lagging but you could use a pullback into the area between the ema as a entry after the cross?

I'm sure that's probably a strategy anyway
  • #337,102
  • Mar 17, 2013 3:25am Mar 17, 2013 3:25am
Quoting brinks
Thanks that's fantastic I should be ok to set them up.

Yes lagging but you could use a pullback into the area between the ema as a entry after the cross?

I'm sure that's probably a strategy anyway
Definitely!

I prefer to keep an eye on price action at significant weekly support and resistance levels. Then I use the D1 MACD and H1 Williams % in order to scale in more positions as trade moves in my favor in order to maximize profits.

The 20 EMA and 50 EMA are good MA's because price tends to use them as moving support / resistance and price tends to make its way back to them sooner than later. A cross over of the 20 EMA and 50 EMA also gives more confirmation of overall trend. This can definitely be seen when looking at the Daily chart for multiple currency pairs, take a look for yourself once you've got it all setup.
  • #337,103
  • Mar 17, 2013 3:32am Mar 17, 2013 3:32am
Quoting 100PipsADay
Definitely!

I prefer to keep an eye on price action at significant weekly support and resistance levels. Then I use the D1 MACD and H1 Williams % in order to scale in more positions as trade moves in my favor in order to maximize profits.

The 20 EMA and 50 EMA are good MA's because price tends to use them as moving support / resistance and price tends to make its way back to them sooner than later. A cross over of the 20 EMA and 50 EMA also gives more confirmation of overall trend. This can definitely be seen when looking at the Daily chart...
Yes thank you just setting up now and will have a look
  • #337,104
  • Mar 17, 2013 3:42am Mar 17, 2013 3:42am
Quoting brinks
Yes thank you just setting up now and will have a look
  • #337,105
  • Mar 17, 2013 9:29am Mar 17, 2013 9:29am
Quoting orabi
hi newbie take my advice never enter unless you have an edge price use any thing to confirm it like trends,BB or any thing else just don't run behind the move you will end cut in half .
now i think sterling have a bounce to up side to 1.5170 - 1.52 so keep your long and close it at this level don't be greedy close it once it reached the lower limit 1.5170 .you can then place a stop loss for your short at 1.5230 that's for you don't be greedy and add short positions ok
i think we will resume downtrend this week as it should and was...
Thanks alot, Sir. Thats really helpful. I dont wanna get blown up anymore by Sterling. Thanks, Sir.
  • #337,106
  • Mar 17, 2013 9:36am Mar 17, 2013 9:36am
Quoting Maso
Hi anindocortez,

I'm so sorry that you lost money. I have sometimes been in this situations like you. Then, I learned I must be very cautious when to open a new position. The pair is always going up and down but if you open a sell position when it is down and vice versa, then it may have a horrible result. For now, I'd suggest that keep away until you can see a confirmation about the trend.

Good Luck
Thanks, Mr Maso. Will keep that in mind. Thanks, Sir.
  • #337,107
  • Mar 17, 2013 9:40am Mar 17, 2013 9:40am
Quoting 100PipsADay
GBP/USD

Previous monthly candle is extremely bearish and we are definitely in a down trend on the Weekly as we have broken out of a 4-Year symmetrical triangle to the downside! On the Daily price showed bullish activity towards the end of last week but it could be making its way back to the 50 EMA @ about 1.535 before resuming its down trend.

Third Screen Strategy is giving a Good BUY Signal: D1 MACD just turned BULLISH so it may be profitable to go long once H1 is over sold, in fact, if you got long on Friday it...
Thanks, Sir. It's really helpful. Thanks alot Sir.
  • #337,108
  • Mar 17, 2013 1:02pm Mar 17, 2013 1:02pm
Does anyone think cable will catch a bid because of this Cyprus stuff?
  • #337,109
  • Mar 17, 2013 1:07pm Mar 17, 2013 1:07pm
Cable is currently around going between 1.5067 to 1.5075 according to fxstreet.
  • #337,110
  • Mar 17, 2013 1:11pm Mar 17, 2013 1:11pm
Quoting Ill-b-back

I'm far more interested in 1.44-43 area retest for a longer term swing trade.

.

Now your talking! Cream with excitement if we get down there buddy.... Here's hoping.

Im still of the opinion that were just setting up for more down trend. Im even actually wishing i hadnt closed my shorts from last week. The end of the week seemed as others have pointed out to be creating a nice head and shoulders on H1.

Fundamentally nothing has improved for the pound and the decent dollar news last week suggests to me that we are still to see the lows again tested. I wont trade anything until we hit 1.45 and below and will be going long with as much as i can cover down to 1.35 (with an extra capital tap if needed if we get down there which is my original strategy) no more breaking my own rules like last week.

My call based on the weekly, monthly charts is either down from here or up to 1.53 and then down from there.

Its 2010 all over again

Good luck guys,
Money never sleeps...
  • #337,111
  • Mar 17, 2013 1:13pm Mar 17, 2013 1:13pm
Quoting brinks
Does anyone think cable will catch a bid because of this Cyprus stuff?
maybe against EU which is set to adjust against GBP.

I actually think shorting the Euro from the open is a better option than trying to work out the pound right now.
Money never sleeps...
  • #337,112
  • Mar 17, 2013 1:26pm Mar 17, 2013 1:26pm
i think the situation and actions taken regarding Cyprus will do more to undermine the banking system in Europe than anyone can imagine. If savings are at riisk then nobody will save, expect not just a run on the bank in Cyprus but potentially everywhere.

If the average person was not so naive and understood more about what is happening globally we would see more quickly widespread rioting and social unrest. Its coming anyway but it needs to be more obvious before the average man on the street takes note.

Here in the USA it seems to be not even discussed that effectively the US government has stolen $3 trillion from the future tax payers to prop up the stock market making rich people much better off and leaving 'the average guy' with an incredible bill. Stocks at their highest value ever while main street is in turmoil. Not enough people are seeing this correctly.

They can find $85 billion each month to save stock prices but cant afford to treat the elderly when they are sick. Incredible world we live in.
Money never sleeps...
  • #337,113
  • Mar 17, 2013 2:27pm Mar 17, 2013 2:27pm
Quoting inpatient
i think the situation and actions taken regarding Cyprus will do more to undermine the banking system in Europe than anyone can imagine. If savings are at riisk then nobody will save, expect not just a run on the bank in Cyprus but potentially everywhere.

If the average person was not so naive and understood more about what is happening globally we would see more quickly widespread rioting and social unrest. Its coming anyway but it needs to be more obvious before the average man on the street takes note.

Here in the USA it seems to be not even...
this is a real problem..the world we live in is being exposed ..its not good is it!
  • #337,114
  • Mar 17, 2013 2:37pm Mar 17, 2013 2:37pm
Looks like big gaps on the euro pairs and gbp/usd gapping higher at the moment
  • #337,115
  • Mar 17, 2013 2:41pm Mar 17, 2013 2:41pm
Quoting brinks
Looks like big gaps on the euro pairs and gbp/usd gapping higher at the moment
it will be interesting to see whether the declines likely in the euro will have an added drag to the pound v USD, regardless i dont see anything to suggest any dollar weakness against GBP.

The correlation between Euro and GBP seemed to be very strong last year and out of sync so far this year.
Money never sleeps...
  • #337,116
  • Mar 17, 2013 2:46pm Mar 17, 2013 2:46pm
[quote=inpatient;6521078]it will be interesting to see whether the declines likely in the euro will have an added drag to the pound v USD, regardless i dont see anything to suggest any dollar weakness against





We will see but at times like this the pound can also be seen as a safe haven.
  • #337,117
  • Mar 17, 2013 2:49pm Mar 17, 2013 2:49pm
[quote=brinks;6521088]
Quoting inpatient
it will be interesting to see whether the declines likely in the euro will have an added drag to the pound v USD, regardless i dont see anything to suggest any dollar weakness against GBP.

The correlation between Euro and GBP seemed to be very strong last year and out of sync so far this year.[/

We will see but at times like this the pound can also be seen as a safe haven.
as with the dollar and in particular in light of the fundamentals recently showing strength in the US and weakness in GBP. My gut tells me the flow from the Euro will more likely be to the dollar than the GBP. GBP will no doubt strengthen against the Euro but how it will move with the Dollar?
Money never sleeps...
  • #337,118
  • Mar 17, 2013 2:51pm Mar 17, 2013 2:51pm
either way it is going to be interesting, I favour the downside but im likely swayed emotionally by a desire to buy the pound as low as possible.
Money never sleeps...
  • #337,119
  • Mar 17, 2013 2:54pm Mar 17, 2013 2:54pm
[quote=inpatient;6521093]
Quoting brinks

as with the dollar and in particular in light of the fundamentals recently showing strength in the US and weakness in GBP. My gut tells me the flow from the Euro will more likely be to the dollar than the GBP. GBP will no doubt strengthen against the Euro but how it will move with the Dollar?
I agree I would expect the dollar to strengthen against both euro and pound
  • #337,120
  • Mar 17, 2013 3:40pm Mar 17, 2013 3:40pm
usd bear set up
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