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Cable Update (GBPUSD)

  • #338,181
  • Apr 3, 2013 2:48am Apr 3, 2013 2:48am
Quoting blobsaudio
Would preferably like to see a bit more of a move up before looking at shorts.
Its ok, Just sayin..
  • #338,182
  • Apr 3, 2013 2:56am Apr 3, 2013 2:56am
On another note considering cables tendency to range lately, I wouldn't be too surprised if it went north for most of the day undoing most of yesterdays drop .
  • #338,183
  • Apr 3, 2013 3:06am Apr 3, 2013 3:06am
carefull with traffic ,its not good


Quoting blobsaudio
Well I don't see much happening in the next hour, so the daily candle should look very much like it does currently. The current daily candle is a good bearish engulfing candle, it had a higher high than yesterdays and has most of the body under 1.5185 (a price zone). Assuming price falls under the low of today candle by around 15 or so pips tomorrow it would be good for shorts and price heading for the next zone marked on the chart. {image} Due to my long interests I would of preferred a bounce here, currently it doesn't look like it will happen....
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #338,184
  • Apr 3, 2013 3:20am Apr 3, 2013 3:20am
Quoting Bones
carefull with traffic ,its not good
Yeah bit congested to the left, I put the orders at 1.5070 which I hope is far enough below that mess. So far they have not been triggered.
  • #338,185
  • Apr 3, 2013 3:24am Apr 3, 2013 3:24am
D1

125, 165 res 070 in sight
Attached Image (click to enlarge)
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  • #338,186
  • Apr 3, 2013 3:37am Apr 3, 2013 3:37am
Strong support more upside from here IMO
  • #338,187
  • Edited 3:58am Apr 3, 2013 3:45am | Edited 3:58am
Really? and which points are entering and exiting points?

Quoting feather
Strong support more upside from here IMO
  • #338,188
  • Apr 3, 2013 3:46am Apr 3, 2013 3:46am
Quoting A-speculator
Its ok, Just sayin..
my bad, when i said that to you, i was on mobile just remembering the price (my android app cannot see the tick just the body of the candles, so i don't really know what happen), but now when i sit down i see reversal candle in 4h for both fiber and cable..

cleared all my positions from yesterday..
  • #338,189
  • Apr 3, 2013 4:04am Apr 3, 2013 4:04am
will try to long cable at 5086..
  • #338,190
  • Apr 3, 2013 4:11am Apr 3, 2013 4:11am
Woke up to feed the babies, price has gone up some? And with not strong UK data showing further contraction, likely third recession. Surely price must fall from here. Nfp will trigger decent move. Night all,
Money never sleeps...
  • #338,191
  • Apr 3, 2013 4:12am Apr 3, 2013 4:12am
We will see below 1.50000 level today or tomorrow. We had two horrible reports on PMI. It means that the economy is very weak. Other pairs are flat and all are sacrificing sterling. Then, it is still bearish against all majors. Furthermore, tonight we will see a strong Yen which means they also need another sacrifice which is sterling not Eur, AUD, NZD.

Quoting A-speculator
will try to long cable at 5086..
  • #338,192
  • Apr 3, 2013 4:14am Apr 3, 2013 4:14am
Seems heavy after the construction PMI.
  • #338,193
  • Apr 3, 2013 4:28am Apr 3, 2013 4:28am
Quoting Maso
We will see below 1.50000 level today or tomorrow. We had two horrible reports on PMI. It means that the economy is very weak. Other pairs are flat and all are sacrificing sterling. Then, it is still bearish against all majors. Furthermore, tonight we will see a strong Yen which means they also need another sacrifice which is sterling not Eur, AUD, NZD.
Like i said before, Its not what u think mate, its what other peoples are think, just trade the candles matey..
  • #338,194
  • Apr 3, 2013 4:39am Apr 3, 2013 4:39am
I don't have any targets yet although I have long positions. Reason for more upside is simple. We have had a 1500 pip drop straight down. So because of this massive drop i am thinking a massive retrace is going to happen. Therefore i see more upside to 1.55- 1.56. Also on previous announcements the Pound dropped like a knife and on this occasion it didn't. The UK economy is shit but so is the US, So I don't see any real reason to keep selling the Pound. Anyway I hope it goes down for you Maso but for the short term I am long.

Quoting Maso
Really? and which points are entering and exiting points?
  • #338,195
  • Apr 3, 2013 4:42am Apr 3, 2013 4:42am
Quoting Maso
We will see below 1.50000 level today or tomorrow. We had two horrible reports on PMI. It means that the economy is very weak. Other pairs are flat and all are sacrificing sterling. Then, it is still bearish against all majors. Furthermore, tonight we will see a strong Yen which means they also need another sacrifice which is sterling not Eur, AUD, NZD.
Why do you think YEN will be strong? I mean with all BOJ policy : "The Bank of Japan's new leadership has pledged to do "everything possible" to end the country's 15 years of deflation and hit the inflation target within two years." source WSJ. As we know they set up 2% inflation target. Off course whole program could face some pessimism, and is two year perspective, everything can happen...
  • #338,196
  • Apr 3, 2013 4:46am Apr 3, 2013 4:46am
Quoting A-speculator
my bad, when i said that to you, i was on mobile just remembering the price (my android app cannot see the tick just the body of the candles, so i don't really know what happen), but now when i sit down i see reversal candle in 4h for both fiber and cable.. cleared all my positions from yesterday..
No problem.
  • #338,197
  • Apr 3, 2013 4:46am Apr 3, 2013 4:46am
Quoting feather
I don't have any targets yet although I have long positions. Reason for more upside is simple. We have had a 1500 pip drop straight down. So because of this massive drop i am thinking a massive retrace is going to happen. Therefore i see more upside to 1.55- 1.56. Also on previous announcements the Pound dropped like a knife and on this occasion it didn't. The UK economy is shit but so is the US, So I don't see any real reason to keep selling the Pound. Anyway I hope it goes down for you Maso but for the short term I am long.
I may keep both longs and shorts. The point is when to open a new position. For instance, between February and March the pair felt 1000 pips from 1.5820 to 1.4830. If I had opened longs at that time, then I would lose all my money. lol
  • #338,198
  • Apr 3, 2013 4:53am Apr 3, 2013 4:53am
Quoting xau
Why do you think YEN will be strong? I mean with all BOJ policy : "The Bank of Japan's new leadership has pledged to do "everything possible" to end the country's 15 years of deflation and hit the inflation target within two years." source WSJ. As we know they set up 2% inflation target. Off course whole program could face some pessimism, and is two year perspective, everything can happen...
The new governor of BOJ has another approach to their economy with a two year plan. It means that they have a moderate plan for USDJPY>100.
  • #338,199
  • Apr 3, 2013 5:02am Apr 3, 2013 5:02am
Ok, tho i'm not so strong at fundamentals, don't know how it could be, but thanks for explaining.
  • #338,200
  • Apr 3, 2013 5:05am Apr 3, 2013 5:05am
Well open a new position when your strategy tells you too. My exit depends on a number of thing's mainly risk.

Quoting Maso
I may keep both longs and shorts. The point is when to open a new position. For instance, between February and March the pair felt 1000 pips from 1.5820 to 1.4830. If I had opened longs at that time, then I would lose all my money. lol
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