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Cable Update (GBPUSD)

  • #337,201
  • Mar 18, 2013 5:40pm Mar 18, 2013 5:40pm
we could be stuck around here until tomorrow, might be a nice 10 pip scalp up and down between 1.5095 and 1.5105 for the next few hours
Money never sleeps...
  • #337,202
  • Mar 18, 2013 5:45pm Mar 18, 2013 5:45pm
[quote=blobsaudio;6524918]
Inserted Video
good one...
I still need a trading break soon!!! "Loose some to win more" --Baher A.
  • #337,203
  • Mar 18, 2013 9:51pm Mar 18, 2013 9:51pm
looks like symetrical triangle waiting for leg two.

I just took a long postion.
  • #337,204
  • Mar 19, 2013 1:19am Mar 19, 2013 1:19am
looking at the chart and how calm it is and then looking at the calendar and the news coming out today, i would say that it should be a stormy day today for cable!!
I still need a trading break soon!!! "Loose some to win more" --Baher A.
  • #337,205
  • Mar 19, 2013 1:21am Mar 19, 2013 1:21am
Quoting alex1976
looks like symetrical triangle waiting for leg two.

I just took a long postion.
i did better imo. i took a "long" sleep!!
I still need a trading break soon!!! "Loose some to win more" --Baher A.
  • #337,206
  • Mar 19, 2013 1:21am Mar 19, 2013 1:21am
anything 50/50 is gambling. This is not good if you trade more than 2 lots, especially 10 lots.
  • #337,207
  • Mar 19, 2013 1:24am Mar 19, 2013 1:24am
i have plotted elliot waves and it looks like the triangle correction is getting over and a new impulse wave will start.
i have pending long and i aim 1.5200 by today.anyone with me? and if the waves are wrong please do tell me.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdlh1.png Size: 43 KB
  • #337,208
  • Mar 19, 2013 1:35am Mar 19, 2013 1:35am
imo the H1 H4 head and shoulders scenario lost a lot accuracy and clarity yesterday but still valid from the inverted head and shoulders on D1. so even if the price does go down to as low as 4990, we would still be on the right hand shoulder on D1 and that would fulfill the H/S oh H1 and still maintain the clarity of the inverted one on D1! It all boils down to what risks you want to take now and how you will manage your money..
I still need a trading break soon!!! "Loose some to win more" --Baher A.
  • #337,209
  • Edited 4:11am Mar 19, 2013 1:37am | Edited 4:11am
Quoting kamifx
One way scalping touched the T/P Level and now for those who can control themselves next target on down run is 1.5037 but i put T/P 1.5043
suggestion about level is still valid but for those who want to open on 1.5105/9 is not acceptable better wait till above this area or after UK News
Yesterday,after suggesting this signals pair run down till 1.5083, but hasn't touched indicated level so far
Don’t follow someone else’s trading advice blindly
  • #337,210
  • Edited 3:50am Mar 19, 2013 3:01am | Edited 3:50am
A nice big spike up to 1.53500-80 area to flush out some weak shorts for a push down lower would be good.

anywhere from 1.52650.

Or a 4 hour flag breakout or does it need to breakout to the upside for the flag to be relevent?

Attached Image (click to enlarge)
Click to Enlarge Name: gbp usd.gif Size: 25 KB
  • #337,211
  • Mar 19, 2013 3:54am Mar 19, 2013 3:54am
Quoting brinks
A nice big spike up to 1.53500-80 area to flush out some weak shorts for a push down lower would be good.

anywhere from 1.52650.

Or a 4 hour flag breakout or does it need to breakout to the upside for the flag to be relevent?

Attachment
Bunch of indicators on my 4HR are started to indicate sell again, the next hour can change what is currently lining up though. I don't enter trades using that 4 hr chart, I use that along with a 15 minute chart. Personally I am not a big fan of indicators, but they can and do work for me in some scenarios.

Attached Image (click to enlarge)
Click to Enlarge Name: hmm.jpg Size: 135 KB


Also currently on the 1HR chart price has just closed slightly below where we have been finding support the past two days.
  • #337,212
  • Mar 19, 2013 4:09am Mar 19, 2013 4:09am
Thanks blobsaudio the next few hours will be interesting i think, maybe we wont see much reaction due to the budget tomorow
  • #337,213
  • Mar 19, 2013 4:18am Mar 19, 2013 4:18am
Quoting brinks
Thanks blobsaudio the next few hours will be interesting i think, maybe we wont see much reaction due to the budget tomorow
I somewhat agree with that sentiment. Unless the CPI figures are significantly different to the forecast figures I would understand a lack of any big reaction. We shall see.
  • #337,214
  • Mar 19, 2013 4:22am Mar 19, 2013 4:22am
Quoting blobsaudio
I somewhat agree with that sentiment. Unless the CPI figures are significantly different to the forecast figures I would understand a lack of any big reaction. We shall see.
A lot of news out in 10 minutes not just CPI.
  • #337,215
  • Edited 4:37am Mar 19, 2013 4:22am | Edited 4:37am
@blobsaudio - i don't usually trade this pair but this time my positions are curiously similar to two of yours. can't post picture at this time, sorry about that.

anyway, i'm expecting it to go south, i've been expecting that since it hit the "head" of the h&s that hasn't formed cause this pair is usually very well behaved and it respects the boundaries of the long term trend channel. also i can think of no long or short term technical or fundamental reasons why it would head north.

sadly the volume in the market right now is extremely low so it's stuck at 1.5075, a line that has acted as both resistance and especially support several times in the past. hopefully today's events will act as a trigger and bring some action..

nope, false alarm.. at least now we know why it hasn't been going down all this time
  • #337,216
  • Mar 19, 2013 4:23am Mar 19, 2013 4:23am
Quoting C345
A lot of news out in 10 minutes not just CPI.
CPI was the only one I could remember
  • #337,217
  • Mar 19, 2013 4:24am Mar 19, 2013 4:24am
Quoting C345
A lot of news out in 10 minutes not just CPI.
Yes indeed a very busy day for sterling
  • #337,218
  • Mar 19, 2013 4:31am Mar 19, 2013 4:31am
Quoting blobsaudio
I somewhat agree with that sentiment. Unless the CPI figures are significantly different to the forecast figures I would understand a lack of any big reaction. We shall see.
And it did just that

NOW FLY !!!
  • #337,219
  • Mar 19, 2013 4:33am Mar 19, 2013 4:33am
Quoting NavExpert
And it did just that

NOW FLY !!!

Not so much reaction so far
  • #337,220
  • Mar 19, 2013 4:34am Mar 19, 2013 4:34am
The only problem I see with these figures are they show higher inflation than forecast, whilst consumer spending power has decreased over the past few years. Not exactly good for the UK consumer and the UK economy if you think about it for a few minutes.
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