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Cable Update (GBPUSD)

  • #337,901
  • Mar 28, 2013 11:11am Mar 28, 2013 11:11am
We have had people calling for 1.53, others calling for 1.50, what have got? A range between 1.51 and 1.52
  • #337,902
  • Mar 28, 2013 11:14am Mar 28, 2013 11:14am
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD_1H.jpg Size: 66 KB


Let's see which zone (Supply/Demand) enters next week.
  • #337,903
  • Mar 28, 2013 11:19am Mar 28, 2013 11:19am
Quoting blobsaudio
We have had people calling for 1.53, others calling for 1.50, what have got? A range between 1.51 and 1.52

HA! and that is what sideways markets are made of! LOL
  • #337,904
  • Mar 28, 2013 11:24am Mar 28, 2013 11:24am
Quoting A-speculator
Now im not quite sure of that.. cable didn't break key level yet.. fibre has lot of room upside.. not a good place for swing trading, At least for me.. Will only daytrade.. be extra careful mate on days like this..
thanks for the concern bro. i not worried about cable right now since i am working on getting myself out of an issue with oil at the moment.. hehe.. wish me luck..
besides lots of stuff can happen in24 hrs right..
I still need a trading break soon!!! "Loose some to win more" --Baher A.
  • #337,905
  • Mar 28, 2013 11:26am Mar 28, 2013 11:26am
Quoting blobsaudio
We have had people calling for 1.53, others calling for 1.50, what have got? A range between 1.51 and 1.52
exactly what ive been saying for sometime but im just thinking the move may overcome a sub range in that bigger one..
I still need a trading break soon!!! "Loose some to win more" --Baher A.
  • #337,906
  • Mar 28, 2013 11:28am Mar 28, 2013 11:28am
oh wow.. 30 pips to the south already..

just teasing u guys
I still need a trading break soon!!! "Loose some to win more" --Baher A.
  • #337,907
  • Edited 11:48am Mar 28, 2013 11:35am | Edited 11:48am
Quoting baherhosni
exactly what ive been saying for sometime but im just thinking the move may overcome a sub range in that bigger one..
I was expecting 1.53 this week, this ranging is a bit tedious, it will break eventually or the range will just shift again.
  • #337,908
  • Mar 28, 2013 12:26pm Mar 28, 2013 12:26pm
if price close at current level like this.. more bullish than bearish based on 4h and daily..
  • #337,909
  • Mar 28, 2013 2:38pm Mar 28, 2013 2:38pm
Quoting A-speculator
if price close at current level like this.. more bullish than bearish based on 4h and daily..
Daily chart in my view :]
Attached Image
  • #337,910
  • Mar 28, 2013 2:52pm Mar 28, 2013 2:52pm
Quoting airafx
Daily chart in my view :]
Air fax thanks for posting that chart to give perspective. I'm getting scared out of my long so your chart gave a bit of confidence. Cheers!
  • #337,911
  • Mar 28, 2013 3:33pm Mar 28, 2013 3:33pm
Quoting A-speculator
if price close at current level like this.. more bullish than bearish based on 4h and daily..
Let see if the link below is enough to support for your tech view?

http://www.telegraph.co.uk/finance/e...says-OECD.html

Let see where she is going next week. I guess it will be another peaceful day tomorrow.
  • #337,912
  • Mar 28, 2013 3:38pm Mar 28, 2013 3:38pm
Quoting airafx
Daily chart in my view :]
Estimating the next HH in your chart will locate around 15320.

That's a not impossible show next week (or tomorrow if any big guy tries to dance on the Friday)

Enjoy our longs with TP1 @ 15320
  • #337,913
  • Mar 28, 2013 3:41pm Mar 28, 2013 3:41pm
Quoting Joeldav
Air fax thanks for posting that chart to give perspective. I'm getting scared out of my long so your chart gave a bit of confidence. Cheers!
You're welcome,
You can change time frame to monthly, you will find bullish formation over there
  • #337,914
  • Mar 28, 2013 3:56pm Mar 28, 2013 3:56pm
Quoting ForexRatVN
Estimating the next HH in your chart will locate around 15320.

That's a not impossible show next week (or tomorrow if any big guy tries to dance on the Friday)

Enjoy our longs with TP1 @ 15320
I think the price will make a little correction on H1 before continue climbing
  • #337,915
  • Mar 28, 2013 5:12pm Mar 28, 2013 5:12pm
Large divergence between commercials and large traders, next weeks COT report will be interesting...

GBP weekly

Attached Image (click to enlarge)
Click to Enlarge Name: wbnvhC0.png Size: 49 KB
Politics is the womb in which war develops.
  • #337,916
  • Mar 28, 2013 5:40pm Mar 28, 2013 5:40pm
Quoting FiatFap
Large divergence between commercials and large traders, next weeks COT report will be interesting...

GBP weekly

Attachment
Fiatfap may I please ask where you got the indicator of traders? Very cool! and useful it seems.
  • #337,917
  • Mar 28, 2013 6:10pm Mar 28, 2013 6:10pm
Commercial hedgers trade against a trend and large traders go with trend. When there's a large divergence, it could signal a reversal. It's important to note COT data is old data but you can combine it with open interest volume to gain some insight.

COT links

CFTC source (scroll down to [Current Legacy Reports:] -> Chicago Mercantile Exchange -> click [Short Format] )
Raw COT data
COT with open interest
COT with candles
Line graph COT
Politics is the womb in which war develops.
  • #337,918
  • Mar 28, 2013 6:32pm Mar 28, 2013 6:32pm
COT data from the chart in early 2010 is interesting, very similar pattern emerging.

In 2010 the 'correction' during the downtrend reached as high as 1.535 in March and just over 1.55 in April before plummeting to 1.42 in early summer.


Many things look similar and may suggest we will see a high around 1.54 in April followed by a fall.

Next week the UK will make a fresh decision on the extra 25 B which may be the kick lower it needs to really test the lows in the 40's

Damn I wish I knew!
Money never sleeps...
  • #337,919
  • Mar 28, 2013 7:56pm Mar 28, 2013 7:56pm
Quoting FiatFap
Commercial hedgers trade against a trend and large traders go with trend. When there's a large divergence, it could signal a reversal. It's important to note COT data is old data but you can combine it with open interest volume to gain some insight.

COT links

CFTC source (scroll down to [Current Legacy Reports:] -> Chicago Mercantile Exchange -> click [Short Format] )
[url="http://www.cftc.gov/dea/futures/deacmesf.htm"]Raw...
Thank you FiatFap I appreciate the links you posted regarding the COT! Cheers!

Looks like we are finally getting through that psych level of 1.5200

We'll see where it goes from here... Maybe up maybe down haha
  • #337,920
  • Mar 28, 2013 8:11pm Mar 28, 2013 8:11pm
Well well,

Chart looks bullish

Feel like im never going to get these buy orders placed, even thinking of going from here (1.52) but must reduce my sizes to allow for an extra 500 pip potential of drawdown.

I will sleep on it tonight but my thoughts are that we will test the 1.54 to 1.55 mark before potentially coming back down if the UK decide to add more easing.
Money never sleeps...
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