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Cable Update (GBPUSD)

  • #338,701
  • Apr 11, 2013 1:23am Apr 11, 2013 1:23am
Quoting A-speculator
i didn't say that mate.. i'm expecting bad data to go downtrend since i'm currently short.. that guy who expects the good news..
Precisely.
The guy said he expects the data to be bad for USD and create another leg up on this pair, and you assume he means the US news will be positive.
Why is this, when it has nearly always been bad news that has caused USD weakness since 1.48, the latest being last Fridays NFP.

Why would negative data create USD strength now as per your post above.
Come with me if you want to live....
  • #338,702
  • Edited 2:15am Apr 11, 2013 2:05am | Edited 2:15am
Quoting Ill-b-back
Precisely. The guy said he expects the data to be bad for USD and create another leg up on this pair, and you assume he means the US news will be positive. Why is this, when it has nearly always been bad news that has caused USD weakness since 1.48, the latest being last Fridays NFP. Why would negative data create USD strength now as per your post above.
Due to risk on/off factor. And technically doesn't support rally continuation.. as long as 5340 hold.
  • #338,703
  • Apr 11, 2013 2:25am Apr 11, 2013 2:25am
Quoting A-speculator
Due to risk on/off factor. And technically doesn't support rally continuation.. as long as 5340 hold.
I suspected that's what you meant, it's just that bad data has not produced a risk off market reaction for the last 4 weeks or so (last nfp especially), but at tech levels, the market can change its view on that I agree.
Come with me if you want to live....
  • #338,704
  • Apr 11, 2013 2:32am Apr 11, 2013 2:32am
Quoting Ill-b-back
I suspected that's what you meant, it's just that bad data has not produced a risk off market reaction for the last 4 weeks or so (last nfp especially), but at tech levels, the market can change its view on that I agree.
  • #338,705
  • Apr 11, 2013 2:39am Apr 11, 2013 2:39am
Quoting A-speculator
A temporary short may find 5240 first, and maybe 516 but would want to see a closed 4hr break of 53 first.
Come with me if you want to live....
  • #338,706
  • Apr 11, 2013 2:41am Apr 11, 2013 2:41am
Quoting Ill-b-back
A temporary short may find 5240 first, and maybe 516 but would want to see a closed 4hr break of 53 first.
Ain't happening if you ask me. Wow, if this continues, I'm thinking 1.55
Come with me if you want to live....
  • #338,707
  • Apr 11, 2013 2:58am Apr 11, 2013 2:58am
My sl triggered.. will access the market later..
  • #338,708
  • Apr 11, 2013 3:32am Apr 11, 2013 3:32am
Probably won't consider any long term shorts until high 54's - 1.55
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpusdweekly.png Size: 31 KB
Click to Enlarge Name: gbpusdweekly1.png Size: 32 KB
Come with me if you want to live....
  • #338,709
  • Apr 11, 2013 3:37am Apr 11, 2013 3:37am
This does look good for more upside. Engulfing candle, a higher high than the engulfing candle, closed above 1.53x and we seem to have broken out of that range we were in.

Attached Image (click to enlarge)
Click to Enlarge Name: hmm.jpg Size: 304 KB
  • #338,710
  • Apr 11, 2013 4:19am Apr 11, 2013 4:19am
Quoting FXMindset
Morning, Pound 4H - Been hold for 5 days now {image}
Stopped out - valid close above 1.5362 @D1 might targeting 1.55
If there was easy money lying around,no one would be forcing it into your
  • #338,711
  • Apr 11, 2013 4:33am Apr 11, 2013 4:33am
Quoting FXMindset
Stopped out - valid close above 1.5362 @D1 might targeting 1.55
1.55.. that's quite a long shot mate.. i don't know, but i'm quite bearish on fiber and cable and bullish on swissy.. atm, no entry yet on cable for short.. i think i will let the price settle first and see how it progress maybe after three 4hrs candle..
  • #338,712
  • Apr 11, 2013 4:35am Apr 11, 2013 4:35am
Quoting A-speculator
1.55.. that's quite a long shot mate.. i don't know, but i'm quite bearish on fiber and cable and bullish on swissy.. atm, no entry yet on cable for short.. i think i will let the price settle first and see how it progress maybe after three 4hrs candle..
D1 is Daily
Btw i dont have any bias,just follow the price..I'm got heavy flu here,need take a rest...laters
If there was easy money lying around,no one would be forcing it into your
  • #338,713
  • Apr 11, 2013 4:37am Apr 11, 2013 4:37am
now if the news is very bad for the usd we can break the major trend down and reach 1.58 in the long term but it's too soon I will not gamble from here , let's see if the news will help to reach my TP 1.5390 and 1.5440
Attached Image (click to enlarge)
Click to Enlarge Name: beforenews.png Size: 66 KB
  • #338,714
  • Apr 11, 2013 4:39am Apr 11, 2013 4:39am
I have just looked at monthly GBP/USD.

To put it in short words, I won't be looking for any shorts here for a long time
"Luxury is one of the basic needs", (c), Don Corleone
  • #338,715
  • Apr 11, 2013 4:45am Apr 11, 2013 4:45am
Quoting Ill-b-back
Probably won't consider any long term shorts until high 54's - 1.55 {image} {image}
Hey Ibb.. long time no talk.. hope you're fine..



http://www.forexfactory.com/attachme...1&d=1364383474

"Quad Bottoms" Formation..
  • #338,716
  • Apr 11, 2013 4:50am Apr 11, 2013 4:50am
Quoting Firstboss
I have just looked at monthly GBP/USD. To put it in short words, I won't be looking for any shorts here for a long time
I'll give it a week
Come with me if you want to live....
  • #338,717
  • Apr 11, 2013 4:52am Apr 11, 2013 4:52am
Quoting cdndollar
Hey Ibb.. long time no talk.. hope you're fine.. {image} "Quad Bottoms" Formation..
All good thx CD, just waiting for the next bear attack for about 1000 pips
Come with me if you want to live....
  • #338,718
  • Apr 11, 2013 4:55am Apr 11, 2013 4:55am
Quoting FXMindset
D1 is Daily Btw i dont have any bias,just follow the price..I'm got heavy flu here,need take a rest...laters
yeah, atm i agree there's no room for bears on the current 4h formation..
  • #338,719
  • Apr 11, 2013 4:56am Apr 11, 2013 4:56am
Quoting FXMindset
Stopped out - valid close above 1.5362 @D1 might targeting 1.55
I agree, broke daily wedge, 5450 next
Come with me if you want to live....
  • #338,720
  • Apr 11, 2013 5:04am Apr 11, 2013 5:04am
Quoting Ill-b-back
All good thx CD, just waiting for the next bear attack for about 1000 pips
Good to hear Ibb.. yes, need to keep an eye on those bottoms.. very tempting for the bears to attack..
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