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Cable Update (GBPUSD)

  • #338,581
  • Apr 8, 2013 9:52am Apr 8, 2013 9:52am
Quoting blobsaudio
Yeah on the 1M it seems to have, hoping this is a mere fakeout.
maybe that is the case, let's wait and see..
  • #338,582
  • Apr 8, 2013 9:54am Apr 8, 2013 9:54am
Quoting A-speculator
i agree that is a good price, it might get there, it might not.. another thing is, fiber and swissy seems find their s&r at about the same time as cable.. if fiber go below 1.3, i think it will be long way down for cable also..

AUD/USD seems to be finding support as well, seems to be more USD related than GBP or EUR.
  • #338,583
  • Apr 8, 2013 9:58am Apr 8, 2013 9:58am
Quoting blobsaudio
AUD/USD seems to be finding support as well, seems to be more USD related than GBP or EUR.
maybe so.. but no comfirmation just yet..
  • #338,584
  • Apr 8, 2013 9:59am Apr 8, 2013 9:59am
Maybe this:

http://i48.tinypic.com/kw5jt.jpg
  • #338,585
  • Apr 8, 2013 10:16am Apr 8, 2013 10:16am
SL triggered.. not yet i think.. too soon..
  • #338,586
  • Apr 8, 2013 10:21am Apr 8, 2013 10:21am
Quoting A-speculator
SL triggered.. not yet i think.. too soon..
maybe i was on the wrong side of the market..
  • #338,587
  • Apr 8, 2013 10:39am Apr 8, 2013 10:39am
what's wrong with gbp right now?? why is going down and down??
  • #338,588
  • Apr 8, 2013 10:51am Apr 8, 2013 10:51am
Quoting Rantaro
what's wrong with gbp right now?? why is going down and down??
technically, the candles formation in 4h for today doesn't suggest for any upmove? have you seen any highs being broken? so it means it want to go down.. how far down? we'll see later when 4h tells you the momentum already exhausted..
  • #338,589
  • Apr 8, 2013 11:03am Apr 8, 2013 11:03am
I do agree with you mate. I cannot see any upward pressure on the cable, especially with a weaak Yen and a bit strong Dollar. However, the downward move also is not so strong.

Quoting A-speculator
technically, the candles formation in 4h for today doesn't suggest for any upmove? have you seen any highs being broken? so it means it want to go down.. how far down? we'll see later when 4h tells you the momentum already exhausted..
  • #338,590
  • Apr 8, 2013 11:05am Apr 8, 2013 11:05am
Quoting Maso
I do agree with you mate. I cannot see any upward pressure on the cable, especially with a weaak Yen and a bit strong Dollar. However, the downward move also is not so strong.
yeah, market is drifting for the time being,

candles still valid no matter what market does, so atm (all day, today) it is shouting down..

i will be selling rallies until market tells otherwise..
  • #338,591
  • Apr 8, 2013 11:06am Apr 8, 2013 11:06am
But we have to be so cautious until Wednesday.

Quoting -sonny-
I start buying from here {image}
  • #338,592
  • Apr 8, 2013 11:07am Apr 8, 2013 11:07am
Using my extremely rough knowledge of how waves work, looking at the 4HR this doesn't look terribly random.
  • #338,593
  • Apr 8, 2013 11:08am Apr 8, 2013 11:08am
Quoting Rantaro
what's wrong with gbp right now?? why is going down and down??
GBP/USD hit D extension on 2hrs and 4 hrs on Friday, after this is natural to have a pull back, also as I told yesterday, if the area of 1.5320 held as support that was previous resistance, it'd have a high probability chance of go up, but right now it broke this level and is retracing back to the up AB boundary.

Right now is test previous resistance that became support at around 1.5240, expect a bounce or if it breaks again it will dip to further fibs level, now is also testing 38.2% ret level.
Also EU/GU is in a uptrend, so it may be another reason why is falling.
This is a 2 hrs TF

"If you want to succeed as much as you want to breath, you'll be successful"

FX 35
Attached Image (click to enlarge)
Click to Enlarge Name: GBP USD analysis 08 04.png Size: 64 KB
  • #338,594
  • Apr 8, 2013 11:11am Apr 8, 2013 11:11am
some bounce might be expected
Attached Image (click to enlarge)
Click to Enlarge Name: r t s set up.png Size: 47 KB
  • #338,595
  • Apr 8, 2013 11:46am Apr 8, 2013 11:46am
Quoting 5percent
some bounce might be expected {image}
yep let see if we go up now
Attached Image (click to enlarge)
Click to Enlarge Name: upup.jpg Size: 123 KB
  • #338,596
  • Apr 8, 2013 12:21pm Apr 8, 2013 12:21pm
Quoting -sonny-
yep let see if we go up now {image}
Sonny, I don't understand why you bought this market, did you buy during NFP on Friday or today? Because now it's retracing, if it holds at level 1.5240 it may bounce and then you'll be on the right track. Otherwise will fall deeper before extends. But let's see.

"If you want to succeed as much as you want to breath, you'll be successful"

FX 35
  • #338,597
  • Apr 8, 2013 12:37pm Apr 8, 2013 12:37pm
Quoting Fx 35
Sonny, I don't understand why you bought this market, did you buy during NFP on Friday or today? Because now it's retracing, if it holds at level 1.5240 it may bounce and then you'll be on the right track. Otherwise will fall deeper before extends. But let's see. "If you want to succeed as much as you want to breath, you'll be successful" FX 35
today with lower lots , it's a little risk , I suspect that the "Manufacturing Production " tomorow will be good , but if it's not my stops are under the 100 ema in the 4h tf. TP at 1,5390
  • #338,598
  • Apr 8, 2013 12:46pm Apr 8, 2013 12:46pm
Too early to call it yet, however potential divergence is forming on the RSI on 4HR TF if price stays here and bounces a bit more.

Attached Image (click to enlarge)
Click to Enlarge Name: hmm.jpg Size: 139 KB
  • #338,599
  • Apr 8, 2013 12:47pm Apr 8, 2013 12:47pm
Quoting Fx 35
Sonny, I don't understand why you bought this market, did you buy during NFP on Friday or today? Because now it's retracing, if it holds at level 1.5240 it may bounce and then you'll be on the right track. Otherwise will fall deeper before extends. But let's see. "If you want to succeed as much as you want to breath, you'll be successful" FX 35
i feel sonny knows what he is doing.. he seems to be buying at potential levels.. from his target it seems also that he bought mini or micro lots depending on his equity.. so he seems to be testing the market at these levels with low risk positions and probably he has has a safe exit plan i believe.

oh i was vary busy with work in the past few working days so it is safe to say that i missed everyone one this thread very much.. although i had short peaks every now and then..
I still need a trading break soon!!! "Loose some to win more" --Baher A.
  • #338,600
  • Apr 8, 2013 12:55pm Apr 8, 2013 12:55pm
Quoting blobsaudio
Too early to call it yet, however potential divergence is forming on the RSI on 4HR TF if price stays here and bounces a bit more. {image}
yup.. thanks for the chart blobs.. thats the line we should be looking at for a bounce. if it breaks, it may turn into a H/S pattern.. oh and lets give an ear to the fundies too.. i dont know i feel that we will get back to that old 5100-5200 range again.. profitable but scary sometimes.. hehe..
I still need a trading break soon!!! "Loose some to win more" --Baher A.
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