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Cable Update (GBPUSD)

  • #338,361
  • Apr 4, 2013 10:41am Apr 4, 2013 10:41am
Quoting Bones
Sorry yesterday I already said its not double top


Well in the last few days I have captured some great pips betting on the fact we were still ranging.

Thought it was coming to an end to the downside but then todays news was positive for the GBP.

Just closed off my longs from earlier and now im 50/50 which means im sidelined.
Money never sleeps...
  • #338,362
  • Apr 4, 2013 10:44am Apr 4, 2013 10:44am
over last couple of days, ive been pondering if i should come back to this thread or not... Other than Bones, i havent seen some of the regulars back....
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #338,363
  • Apr 4, 2013 10:47am Apr 4, 2013 10:47am
Quoting fxtyrant
over last couple of days, ive been pondering if i should come back to this thread or not... Other than Bones, i havent seen some of the regulars back....

Ill be back is on his own thread, Navin has seemingly disappeared, Redbeben I think works on his own blog/site, Poundtrader seems to only post on his own forum too, Faller every know and again chimes in (in his own particular way). Tau trader still every now and again with some great quality.

Post count is very low in this thread compared to what I remember
Money never sleeps...
  • #338,364
  • Apr 4, 2013 10:50am Apr 4, 2013 10:50am
Quoting fxtyrant
over last couple of days, ive been pondering if i should come back to this thread or not... Other than Bones, i havent seen some of the regulars back....
well, i'm here mate..

i just got married, so will spend sometime here on and off..
  • #338,365
  • Apr 4, 2013 10:52am Apr 4, 2013 10:52am
which part of the UK you from Spec?
Money never sleeps...
  • #338,366
  • Apr 4, 2013 10:55am Apr 4, 2013 10:55am
Quoting inpatient
which part of the UK you from Spec?
well, i'm not from UK mate, i'm from Malaysia.. but i really love to watch Top Gear UK... lol.
  • #338,367
  • Apr 4, 2013 10:56am Apr 4, 2013 10:56am
what is the rationale behind today's rally. can somebody tell me pls?
  • #338,368
  • Apr 4, 2013 10:57am Apr 4, 2013 10:57am
okay i guess im gona start posting on this thread again...
atleast people here are reading my threads, EURUSD thread people seem to be ignoring my post....

this is my trade for the day....
Attached Image (click to enlarge)
Click to Enlarge Name: 20130404.1555.gmt.chfjpy.h4.png Size: 47 KB
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #338,369
  • Apr 4, 2013 10:57am Apr 4, 2013 10:57am
Quoting forex4india1
what is the rationale behind today's rally. can somebody tell me pls?
it's from the previous support zone mate.. see daily, you can see there are a lot of buyers at about the low today from the wick the previous candle formation.
  • #338,370
  • Apr 4, 2013 10:59am Apr 4, 2013 10:59am
Quoting fxtyrant
okay i guess im gona start posting on this thread again... atleast people here are reading my threads, EURUSD thread people seem to be ignoring my post.... this is my trade for the day.... {image}

I always read your posts on EU thread,

Your charts are always very interesting and informative
Money never sleeps...
  • #338,371
  • Apr 4, 2013 10:59am Apr 4, 2013 10:59am
Quoting A-speculator
it's from the previous support zone mate.. see daily, you can see there are a lot of buyers at about the low today from the wick the previous candle formation.
here i show u in my chart..
Attached Image (click to enlarge)
Click to Enlarge Name: cable2.png Size: 28 KB
  • #338,372
  • Apr 4, 2013 10:59am Apr 4, 2013 10:59am
Quoting forex4india1
what is the rationale behind today's rally. can somebody tell me pls?

err, did you not see the US claims? Or the UK service industry numbers?
Money never sleeps...
  • #338,373
  • Apr 4, 2013 11:01am Apr 4, 2013 11:01am
Quoting A-speculator
it's from the previous support zone mate.. see daily, you can see there are a lot of buyers at about the low today from the wick the previous candle formation.
thanks for the chart

i think 5200 will stop this momentum and going down again

here is comparison with my chart
Attached Image (click to enlarge)
Click to Enlarge Name: untitled1.jpg Size: 105 KB
  • #338,374
  • Apr 4, 2013 11:02am Apr 4, 2013 11:02am
Quoting vaniza
thanks for the chart i think 5200 will stop this momentum and going down again
agreed,

as with EU,

will head back under 1.28
Money never sleeps...
  • #338,375
  • Edited 11:14am Apr 4, 2013 11:02am | Edited 11:14am
Quoting forex4india1
what is the rationale behind today's rally. can somebody tell me pls?
you really dont seem to have a clue bout anything... just like ur call of EURJPY on the EURUSD thread how there were resistance
Quoting forex4india1
122.79 should hold but it will again come close to that price once before dragass
but i seem to be the more accurate one here....

Quoting fxtyrant
actually on EURJPY i dont see any significant resistance on the daily until 123.90/124
EURJPY topped out at 123.92 today


as for your question.. the reason why GBPUSD rallied today is because we had a BOE rate decision today, with market pricing in that BOE would lower rates, the immediate effect of lowering interest rate is a fallin GBPUSD... however that didnt happen... instead BOE held rates unchanged... soo the speculaters who previously priced in a rate cut, is reversing their position, hence the rally....

Not to mention the Better than Expected UK Services PMI, and the Worse than expected US unemployment claims coming out today....

From the looks of things, you dont seem to be aware of whats going on out there fundamentally.... you really need to build up the habit of keeping up to date with news...

use Bloomberg (live broadcast), ForexLive (live Forex commentary, i dont care what people say about them, only because ive been using them for ages and they focus on currency related news feed for free! but do take whatever they say with pinch of salt... especially their posts of chatter and rumors), ForexFactory (data releases)
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #338,376
  • Apr 4, 2013 11:03am Apr 4, 2013 11:03am
Quoting inpatient
I always read your posts on EU thread, Your charts are always very interesting and informative
thanks buddy
anyways ill put an effort to posting more here...
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #338,377
  • Apr 4, 2013 11:05am Apr 4, 2013 11:05am
Quoting inpatient
agreed, as with EU, will head back under 1.28
hopefully mate

as you know this is forex

anything is possible , we just can hope and try to forecast
  • #338,378
  • Apr 4, 2013 11:10am Apr 4, 2013 11:10am
Quoting vaniza
thanks for the chart i think 5200 will stop this momentum and going down again here is comparison with my chart {image}
atm, i don't think so.. i'm waiting to long at 5165 (adjusted my previous entry from 5145)
  • #338,379
  • Apr 4, 2013 11:12am Apr 4, 2013 11:12am
Quoting vaniza
hopefully mate as you know this is forex anything is possible , we just can hope and try to forecast
i'm not sure of that mate.. atm i'm waiting to long at 2835 on fiber..
  • #338,380
  • Apr 4, 2013 11:12am Apr 4, 2013 11:12am
Quoting inpatient
agreed, as with EU, will head back under 1.28
I do agree. the cable is going down from 1.52000 which is so strong now.
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