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Cable Update (GBPUSD)

  • #338,241
  • Apr 3, 2013 1:13pm Apr 3, 2013 1:13pm
Quoting eliteincome
Hello Keep thinking they will pull the chain again pump in dump I will let it go up then do a short again soon find out
i think we will stay in this range until london since the up move need to clear up its momentum.. we need more consolidation candles for that to happen..
  • #338,242
  • Apr 3, 2013 1:14pm Apr 3, 2013 1:14pm
Quoting captain73
Maybe because 5154 is daily pivot.
yeah, it's almost the same as the fibo.. anyway, that move very close to my SL, almost got hit
  • #338,243
  • Apr 3, 2013 1:23pm Apr 3, 2013 1:23pm
the idea for the short trade is this:

as long as the fibo intact, bear can remain calm, but once it's been breached, you all have to make sure you clear any short position you got left. that is summarise of the trading plan, if i can say it so.. ::nerd:
  • #338,244
  • Apr 3, 2013 1:23pm Apr 3, 2013 1:23pm
Quoting A-speculator
yeah, it's almost the same as the fibo.. anyway, that move very close to my SL, almost got hit
We can see the move again and again around pivot. Be careful around the pivot. Mostly 10 pips up 10 pips down over and over.
  • #338,245
  • Apr 3, 2013 1:23pm Apr 3, 2013 1:23pm
Quoting captain73
Maybe because 5154 is daily pivot.
may be?
I still need a trading break soon!!! "Loose some to win more" --Baher A.
  • #338,246
  • Apr 3, 2013 1:24pm Apr 3, 2013 1:24pm
H4
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD - H4 Wave analysis (03.04.2013).JPG Size: 118 KB
"Rule No.1: Never lose money. Rule No.2: Never forget rule No.1." — Warren
  • #338,247
  • Apr 3, 2013 1:28pm Apr 3, 2013 1:28pm
Quoting mr-roma
H4 {image}
the funny thing about TA is you can see it half empty or half full.. look at my chart..

the move up perhaps just retesting the TL.
Attached Image (click to enlarge)
Click to Enlarge Name: cable..png Size: 27 KB
  • #338,248
  • Apr 3, 2013 1:32pm Apr 3, 2013 1:32pm
ok guys, it's late here... see u all later..
  • #338,249
  • Apr 3, 2013 1:35pm Apr 3, 2013 1:35pm
I have it topping out at 1.5171/72... ps - why you guys got different numbers on GBP USD ??? are you showing it the toher way around like USD GBP???
  • #338,250
  • Apr 3, 2013 2:53pm Apr 3, 2013 2:53pm
Tomorrow data will be the key to direction, market has priced back out most of the likelihood of extra asset purchase, if it happens we will trade below 1.50 again and test the lows. If it don't happen I see us testing the 1.526 mark again.

I don't see enough faith in the pound to get above 1.53 and have thought for a while that any bullish moves will be capped before this.

Ranging has been tiring to me and im going to pull the trigger short with a decent size order from here

SELL 1.5145

Target 1.488

Stop 1.531
Money never sleeps...
  • #338,251
  • Apr 3, 2013 3:02pm Apr 3, 2013 3:02pm
Quoting fontu
yeah approximately , 145,158 & 176 for next tanking /little leg to & breaks 5026 target & so.Let go little up to fix a scalping target . eu may to 2850/60 , gold 1589 if all ok before the next . anyway gold & eu reached the bounce areas but gu not & all to wait for it play end to synchronize the action & more power or failure if not perhaps due already the crush storm running. lets see . fontu {image}
Just an update , the next in gold started & great crush/bear continuation done already .In weekly still a last leg up/correction likely but daily & low tf taken the step of continuation , decision taken . so if a correction towards 1585 to further down or continue as such , all ok.

eu,gu,au still staying at some correction level but should not as such , so failure towards base most possible before another try up intact . eu 2768/55 & gu 5098 to 5077 even not continue down to 5026 actually here..
lets see next day for final decision in continuation bear for rest of the week & so or not .
fontu
Attached Image(s) (click to enlarge)
Click to Enlarge Name: golddaily.png Size: 50 KB
Click to Enlarge Name: goldweekly.png Size: 60 KB
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #338,252
  • Apr 3, 2013 4:05pm Apr 3, 2013 4:05pm
WTF,

anyone else got cable jumping 10 pips down and back again over and over?

FXCM - ask line does not move though (of course)
Money never sleeps...
  • #338,253
  • Edited 5:09pm Apr 3, 2013 4:55pm | Edited 5:09pm
Quoting inpatient
WTF, anyone else got cable jumping 10 pips down and back again over and over? FXCM - ask line does not move though (of course)
Hi Inpatient,

I notice that you posted around 5pm New York time. This time marks the end of one 24-hour trading day and the start of the next. It's also when rollover interest is applied to open positions. The spreads on FXCM's platforms come from our No Dealing Desk price feed where 10+ liquidity providers stream us their price quotes.

http://img37.imageshack.us/img37/919...ollover201.png


Since volume is typically very low during this 5pm cutoff time, our liquidity providers will often use this time to refresh their servers and check systems for the new trading day. As a result, the spreads can widen at this time for a few minutes.

Jason
  • #338,254
  • Apr 3, 2013 5:09pm Apr 3, 2013 5:09pm
Quoting Jason Rogers
Hi Inpatient, I notice that you posted around 5pm New York time. This time marks the end of one 24-hour trading day and the start of the next. It's also when rollover interest is applied to open positions. The spreads on FXCM's platforms come from our No Dealing Desk price feed which has 10+ liquidity providers. {image} Since volume is typically very low during this 5pm cutoff time, our liquidity providers will often use this time to refresh their servers and check systems for the new trading day. As a result, the spreads can widen at this time...

Thanks for the explanation, appreciate it
Money never sleeps...
  • #338,255
  • Apr 3, 2013 6:30pm Apr 3, 2013 6:30pm
the support become resistance, So i sold GU @1.5250 SL @ 1.5350 Tp @1.4850 . Keep it simple and i wish for all of you good luck.
  • #338,256
  • Apr 3, 2013 7:03pm Apr 3, 2013 7:03pm
Yep me too I sold GU at 1.5248 and again at 1.5155 and trying to build a pyramind down to 1.4995 - However, I believe my 1.5155 could get crushged. I was looking for 151.70 but it never got the and double topped on 15 min and hourly charts.. also the 4 hour stoch was looking so bullish
  • #338,257
  • Apr 3, 2013 7:13pm Apr 3, 2013 7:13pm
My plan is similar to yours Impatient.

I have the Sells from 15250 down to 1.4990. I see a false break of the 15225 then i have the up leg going to 15420.. then a pullback and continuation to around 15780.. around that area and then Cable falls to 140 - However, am not convinced in this short term double top at 151.55 as had the area at 1.5170 and wouldn't like to see that break but could see Cable breaking and getting up to 152.02 an dif that breaks then Cable doesn;t go lower low but higher lows and then higher highs
  • #338,258
  • Apr 3, 2013 8:33pm Apr 3, 2013 8:33pm
Quoting RussJ
My plan is similar to yours Impatient. I have the Sells from 15250 down to 1.4990. I see a false break of the 15225 then i have the up leg going to 15420.. then a pullback and continuation to around 15780.. around that area and then Cable falls to 140 - However, am not convinced in this short term double top at 151.55 as had the area at 1.5170 and wouldn't like to see that break but could see Cable breaking and getting up to 152.02 an dif that breaks then Cable doesn;t go lower low but higher lows and then higher highs

I think it will depend on BOE tomorrow, if they ease then we go down from here,

If they don't then we might test 1.526 again but then go down from there, I really don't see 1.53 going unless the services PMI tomorrow is stronger than expected. I was however, shocked at last months number

we will soon see
Money never sleeps...
  • #338,259
  • Apr 3, 2013 8:41pm Apr 3, 2013 8:41pm
i can potentially see us getting down to 15107 then making that leg up to 15170 area although would want to see each sharply reverse from there. USD Index looks horrid though the daily stochastic looks bearish and this could help GBP longs. Would be happy for it to ge to 1.5106 then to 1.5170 that will work for me.. creating the 2nd leg in the form of an A,B, C on the 4 hour chart
  • #338,260
  • Apr 3, 2013 11:13pm Apr 3, 2013 11:13pm
Quoting RussJ
i can potentially see us getting down to 15107 then making that leg up to 15170 area although would want to see each sharply reverse from there. USD Index looks horrid though the daily stochastic looks bearish and this could help GBP longs. Would be happy for it to ge to 1.5106 then to 1.5170 that will work for me.. creating the 2nd leg in the form of an A,B, C on the 4 hour chart

Im a little confused bro, you have placed shorts but it seems your analysis is bullish?

Agree the USDX looks bearish but the GBP is very weak and if the services PMI is bad i think they might pull the trigger on more easing
Money never sleeps...
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