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Cable Update (GBPUSD)

  • #338,301
  • Apr 4, 2013 5:46am Apr 4, 2013 5:46am
Quoting A-speculator
that is why it is called testing.. afterall the SL is just 17 pips..

I've just bought that re test as well at 150.45 playiong for 15110
  • #338,302
  • Apr 4, 2013 5:49am Apr 4, 2013 5:49am
Ahead of Uk's BOE's MPC decisions at 12noon London gbpusd is between the current daily lo at 5032 - now a previous 1hr swing lo zone, daily S2 and 61.8% 4905-5260 there too and that 1hr zone in a wider previous 4hr/daily swing lo zone....-and- the pullback hi at the previous 1hr/4hr swing lo zone (support becomes resistance) around 38.2% of 5157-5032. Price has travelled 106% of it's 20 day atr so far today.

1hr and 4hr pics below.

G/L
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 1hr.jpg Size: 141 KB
Click to Enlarge Name: 4hr.jpg Size: 186 KB
ex member
  • #338,303
  • Apr 4, 2013 6:04am Apr 4, 2013 6:04am
Its not going to fully reverse but it where it hit that predicts 15110... at 151.40 it was supposed to get back to 151.80 but it went a little further intot the support and now that predicts 151.13/18 then we are short to 14990 from there.

I dont use fibs but when it hits a fib on 1 timeframe it is suppported by another timeframe fin and vice versa... i learnt Fractals by drawing trend lines and eventually i had a grid.. i then applied that to price the rules i learnt and so i look at the wicks it hits and it tells me where its going and where it is ultimately being supported and the ul;timate resistance etc
  • #338,304
  • Apr 4, 2013 6:19am Apr 4, 2013 6:19am
No change from BOE.

This could go anywhere guys, im staying out and going back to sleep.

Good luck if you have open positions. If you don't then entering now is not very wise IMO
Money never sleeps...
  • #338,305
  • Apr 4, 2013 6:22am Apr 4, 2013 6:22am
only thing im looking at is maybe a Long an the AUDUSD targeting 1.05
Money never sleeps...
  • #338,306
  • Apr 4, 2013 6:56am Apr 4, 2013 6:56am
now GBP/USD must go to 1.5500
  • #338,307
  • Apr 4, 2013 6:58am Apr 4, 2013 6:58am
Quoting Fjw
now GBP/USD must go to 1.5500
Show us where do you get to this point
  • #338,308
  • Apr 4, 2013 6:58am Apr 4, 2013 6:58am
At this stage, there is absolutely no value in booking a trade until either the daily high or the daily low has been breached. OMO.
  • #338,309
  • Apr 4, 2013 6:59am Apr 4, 2013 6:59am
Are you joking man? Over over over estimate of you of sterling. You may right if there is no US. lol

Quoting Fjw
now GBP/USD must go to 1.5500
  • #338,310
  • Apr 4, 2013 7:06am Apr 4, 2013 7:06am
Quoting Fjw
now GBP/USD must go to 1.5500

steady bro, we might likely see 1.52 or possibly even 1.525 but 1.55 is over doing things.

same situation before has not had the strength to see us to even 1.53, what makes you think we do now?
Money never sleeps...
  • #338,311
  • Apr 4, 2013 7:06am Apr 4, 2013 7:06am
Now its seem my long position is at no risk anymore.. going to hold until PA says otherwise..
  • #338,312
  • Apr 4, 2013 7:08am Apr 4, 2013 7:08am
Quoting A-speculator
Now its seem my long position is at no risk anymore.. going to hold until PA says otherwise..
closed my short from 1.514 at 1.508,

think were good for 1.52 here but don't see anything else
Money never sleeps...
  • #338,313
  • Apr 4, 2013 7:12am Apr 4, 2013 7:12am
Quoting inpatient
closed my short from 1.514 at 1.508, think were good for 1.52 here but don't see anything else
Way to go mate. Nice..
  • #338,314
  • Apr 4, 2013 7:12am Apr 4, 2013 7:12am
Rates left on hold, GBP stronger, look at the yen pairs for today's big movers....
  • #338,315
  • Apr 4, 2013 7:13am Apr 4, 2013 7:13am
Quoting tony_dtrader
I actually put half my lot size on 1.5030 and I was expecting it to fall nice below 1.5 anywhere on the PMI news to add my second half. But looks like the PMI news came out good and so it went up 1.5070, I think I'll just hold on to my half lot as it may just be stalled here till the next two news before it goes up and also a possibility of a spike down by London boys (will add my second half there) and ride it all the way up.
Still on this, i think the news in 15 mins may help it hit 1.5150 or more
prepare for worst & expect the best
  • #338,316
  • Apr 4, 2013 7:15am Apr 4, 2013 7:15am
Quoting tony_dtrader
Still on this, i think the news in 15 mins may help it hit 1.5150 or more
Perhaps they already know the outcome of the news..
  • #338,317
  • Apr 4, 2013 7:25am Apr 4, 2013 7:25am
Nice 1 hour bull candles. 1.515X is the level to keep an eye on.
  • #338,318
  • Apr 4, 2013 7:26am Apr 4, 2013 7:26am
Quoting tony_dtrader
Still on this, i think the news in 15 mins may help it hit 1.5150 or more
That's what I am waiting at the moment.
  • #338,319
  • Apr 4, 2013 7:27am Apr 4, 2013 7:27am
Short @ 5117..SL 50..TP..4950...
Those that say do not know. Those that know do not say.
  • #338,320
  • Apr 4, 2013 7:34am Apr 4, 2013 7:34am
Quoting ohenry
Short @ 5117..SL 50..TP..4950...
We hardly reach 5000.. you're targetting 4950?
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