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Cable Update (GBPUSD)

  • #337,261
  • Mar 19, 2013 10:46am Mar 19, 2013 10:46am
leg 2?
  • #337,262
  • Mar 19, 2013 10:52am Mar 19, 2013 10:52am
The major trend is still bearish, Is it good to sell stop at 1.50665, Stop 1.521760 ?

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  • #337,263
  • Mar 19, 2013 10:53am Mar 19, 2013 10:53am
Quoting brinks
The 1.50700 area has held for three days now what cant go down must go up

Yes but 1.5145 has also held for days now so it works both ways,

I see the volume is high right now so hopefully something will happen soon.
Money never sleeps...
  • #337,264
  • Mar 19, 2013 10:54am Mar 19, 2013 10:54am
Quoting Bones
H4
Hello Bones and thanks for the USD chart. I've boxed out the cable range and I'm trading out of it. Probably long. By the way, what does "It worked with rice" mean? If I may ask?
Gone to a better place
  • #337,265
  • Mar 19, 2013 10:54am Mar 19, 2013 10:54am
Euro is moving down and pound moving up,

Or maybe setting up for a leg down
Money never sleeps...
  • #337,266
  • Mar 19, 2013 10:54am Mar 19, 2013 10:54am
yes the overall trend is still down, but looking at daily and hourly, its a clear leg one leg two formation, and probability suggests up for the next move.
  • #337,267
  • Mar 19, 2013 10:56am Mar 19, 2013 10:56am
Quoting inpatient
Yes but 1.5145 has also held for days now so it works both ways,

I see the volume is high right now so hopefully something will happen soon.
yes that is very true but i favour a upside break
  • #337,268
  • Mar 19, 2013 1:21pm Mar 19, 2013 1:21pm
By the uncertainty around the market, tonight we may see 1.50 and tomorrow maybe below toward 1.44...

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  • #337,269
  • Mar 19, 2013 1:29pm Mar 19, 2013 1:29pm
Quoting Maso
By the uncertainty around the market, tonight we may see 1.50 and tomorrow maybe below toward 1.44...

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tell me if i am saying this right.. there are too many opposing positions with high volumes so that if it does move in certain direction, it will erupt like a volcano.. but its my own thinking that the price is currently being "kept" in this range!..
I still need a trading break soon!!! "Loose some to win more" --Baher A.
  • #337,270
  • Mar 19, 2013 1:38pm Mar 19, 2013 1:38pm
From your point of view, there are lots of long positions as well. So, do you expect the cable stay in this level for ever ?

Moreover, they publish a good news and all traders expect the pair goes high but.... it goes DOWN...

Quoting baherhosni
tell me if i am saying this right.. there are too many opposing positions with high volumes so that if it does move in certain direction, it will erupt like a volcano.. but its my own thinking that the price is currently being "kept" in this range!..
  • #337,271
  • Mar 19, 2013 2:12pm Mar 19, 2013 2:12pm
Quoting baherhosni
tell me if i am saying this right.. there are too many opposing positions with high volumes so that if it does move in certain direction, it will erupt like a volcano.. but its my own thinking that the price is currently being "kept" in this range!..

yes i think your seeing and saying this right. Being kept in this range until 'bigger' fish make a decision as to the next move.

For me it is down (or up then very much down) either way my sentiment is short over the next month.
Money never sleeps...
  • #337,272
  • Mar 19, 2013 2:16pm Mar 19, 2013 2:16pm
Quoting Maso
From your point of view, there are lots of long positions as well. So, do you expect the cable stay in this level for ever ?

Moreover, they publish a good news and all traders expect the pair goes high but.... it goes DOWN...
From my view, no one either go up or down since beginning of week - she plays quite well in the tight range.

What is market waiting? A bad news to drag her long way down. Fortunately, there isn't single one apart from the budget report tomorrow.

It should not have big surprise in report tomorrow. Every event / news already priced in recently.

So, what is my view? I am bias on the north movement, but taking care of the market speculators bias on the bear as well.

I will wait someone pull her down to the round number 1.5 then place the long trade, SL 1.4800 (below the previous low), TP2 1.55 (set BE @ 1.51)
  • #337,273
  • Mar 19, 2013 2:21pm Mar 19, 2013 2:21pm
Quoting ForexRatVN
From my view, no one either go up or down since beginning of week - she plays quite well in the tight range.

What is market waiting? A bad news to drag her long way down. Fortunately, there isn't single one apart from the budget report tomorrow.

It should not have big surprise in report tomorrow. Every event / news already priced in recently.

So, what is my view? I am bias on the north movement, but taking care of the market speculators bias on the bear as well.

I will wait someone pull her down to the round number 1.5 then place the...
One risk of the budget tomorrow is if the chancellor says they may change the BOE remit so they target growth as well as inflation.that will,allow the BOE to ease more without having to explain inflation they will just say they are targeting the growth part of the remit.

As you say I'm not sure if that's priced in or not.
For me 1.55 is possible but 1.60 is a long way and maybe a step to far.
  • #337,274
  • Mar 19, 2013 2:23pm Mar 19, 2013 2:23pm
Quoting inpatient
yes i think your seeing and saying this right. Being kept in this range until 'bigger' fish make a decision as to the next move.

For me it is down (or up then very much down) either way my sentiment is short over the next month.
For me, she will get up, even 1.6 (should I be so optimistic?), minimum 1.55. Then where she will turn after that - God knows - but not within this month any way
  • #337,275
  • Mar 19, 2013 2:32pm Mar 19, 2013 2:32pm
Quoting ForexRatVN
For me, she will get up, even 1.6 (should I be so optimistic?), minimum 1.55. Then where she will turn after that - God knows - but not within this month any way


maximum 1.53

I guess we will have to disagree on this my friend......
Money never sleeps...
  • #337,276
  • Mar 19, 2013 2:32pm Mar 19, 2013 2:32pm
Quoting brinks
One risk of the budget tomorrow is if the chancellor says they may change the BOE remit so they target growth as well as inflation.that will,allow the BOE to ease more without having to explain inflation they will just say they are targeting the growth part of the remit.
I though market price in this risk and that could explain MASO question of "... it should go up but not"

The difference of GBP and others is British does not want to see its devalue, at least not too much. Then hand in hand they try to harmonise the inflation and growth targets

The risk I could foresee is S&P downgrade the UK, following the Moody's recently. I will buy the spike down if any
  • #337,277
  • Mar 19, 2013 2:36pm Mar 19, 2013 2:36pm
Quoting ForexRatVN

The different of GBP and other currency is British does not want to see its devalue, at least not too much.

Again were going to have to disagree
Money never sleeps...
  • #337,278
  • Mar 19, 2013 2:37pm Mar 19, 2013 2:37pm
Quoting ForexRatVN
I though market price in this risk and that could explain MASO question of "... it should go up but not"

The difference of GBP and other currency is British does not want to see its devalue, at least not too much. Then hand in hand they try to harmonise the inflation and growth targets

The risk I could foresee is S&P downgrade the UK, following the Moody's recently. I will buy the spike down if any
I'm not sure if the remit change is priced in.

I agree with inpatient as I said I can see 1.55 but not 1.60
  • #337,279
  • Mar 19, 2013 2:43pm Mar 19, 2013 2:43pm
Ahhh...

I see you have the machine that goes;

BING!!!

LOL...
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Come with me if you want to live....
  • #337,280
  • Mar 19, 2013 2:45pm Mar 19, 2013 2:45pm
Ok. Did deep research by using Fibonachi.
So, i would say the 4832 is the this year minimum. it could return to that level but not more.
By fibonachi we must go to 5300 level maybe 5400. then it could reverse again to 5000.
The fact that level 4832 was as a stop point and strong 5100 is keeping i would say the train to 5300 is coming.
STRONG WAIT !!! and dont panic.

another 200 pips up for the market is not something unrealistic. so this week i see 5300

i put stop loss 5050 if i am wrong. but unlikelly it could happen.
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