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Cable Update (GBPUSD)

  • #339,261
  • Apr 23, 2013 4:15am Apr 23, 2013 4:15am
I dont trade cable much nowadays.. we have a love hate relationship... a bit like geppy and the yen at the moment LOL

but from what I see its bounced beautifully off the 4hr trend line and was absorbed with a nice long wick... the thing is for how long? UK been downgraded blah blah blah but if we zoom out a little we have a perfect bear flag forming on the 4hr and daily... break this level and I think there will be lots of fun and games to be had...



Quoting 5percent
Hour 4 range's channel on GBPUSD. Price has yet to close under the 1.5214/10 support. A bounce/close above hourly's resistance @ 1.5234/35 will then validate this demand zone. A lower lo after 1.5195 will have breakout to the downside on the card. first minor resistance @ 1.5225 or pull back add on retrace. 38.2 of 1.5273/1.5196. {image}
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Click to Enlarge Name: cable 4hr zoom out.png Size: 127 KB
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"Millionaires don't use astrology, billionaires do"
  • #339,262
  • Edited 5:37am Apr 23, 2013 4:25am | Edited 5:37am
Ok to go then , eu breaks 3001 for next 200 pips to 2800, 2826 & 2763 ok too > care 2956/69 , now/near low & so limit for down goes to ( as far ) 3015/33 before further breaks there next time . greats bear actually expecting ,after the next leg up from there & finally bear continuation like gold & gu did earlier, sky falling effects .

gu need break 5191 & hold for min 5030 to 4831 low all ok .
Gold broken 1418/4 then next 1391 breaks & hold for 1366.1400 breaks most important level here .
fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #339,263
  • Apr 23, 2013 4:25am Apr 23, 2013 4:25am
Quoting forex_growth
I dont trade cable much nowadays.. we have a love hate relationship... a bit like geppy and the yen at the moment LOL but from what I see its bounced beautifully off the 4hr trend line and was absorbed with a nice long wick... the thing is for how long? UK been downgraded blah blah blah but if we zoom out a little we have a perfect bear flag forming on the 4hr and daily... break this level and I think there will be lots of fun and games to be had... {quote} {image} {image} {image}
i like cable then eur lately because its more decisive on the rejection and bounce, and breakout is more clear too. EU can be quite terrible to trade lately as they are to prone to anything in the market. Cable tend to have trend line, fibo and tech levels to consult compared to irrational EU.

Yen pairs just buy hi, sell lo on trend works best for the breakout and avoid range market to get trapped in any position.

Ye nice tl there, its trading nicely in that channel. A breakout under tl, can trade a good risk reward for breakout with any incoming fundamental that can drive volatility. Normally, i wait Wednesday to trade a full breakout compared to Monday and Tuesday.
  • #339,264
  • Apr 23, 2013 4:31am Apr 23, 2013 4:31am
Quoting 5percent
{quote} i like cable then eur lately because its more decisive on the rejection and bounce, and breakout is more clear too. EU can be quite terrible to trade lately as they are to prone to anything in the market. Cable tend to have trend line, fibo and tech levels to consult compared to irrational EU. Yen pairs just buy hi, sell lo on trend works best for the breakout and avoid range market to get trapped in any position. Ye nice tl there, its trading nicely in that channel. A breakout under tl, can trade a good risk reward for breakout with any...
Yes,Cable so far good than Euro
If there was easy money lying around,no one would be forcing it into your
  • #339,265
  • Apr 23, 2013 4:32am Apr 23, 2013 4:32am
This week is a lot of Bank Holidays... so I guess this will go down deeply when friday start. Hopefully!!!
  • #339,266
  • Apr 23, 2013 4:40am Apr 23, 2013 4:40am
Quoting Pip Anon
{quote} Hope so, short @ 1.5224 targeting 1.5175
too risky. it could rebound to 5250 easilly.

i will wait 5180. timing here also importand not only price. i think its better to wait tomorows data and if it will be below 5200 then start to long.
technically we are in perfect place to long, but market full of surprices. if 5180 will be broken and go to 5150 then SL at that level and will out from GU.
Then it will slide to 5050 easilly. then LONG 5050 SL 5020.

so i will risk 30 pips and hunting 250 pips direction. no matter what GDP will be if we will go down more now then at the end of the week strong UP
  • #339,267
  • Apr 23, 2013 4:42am Apr 23, 2013 4:42am
Pound/Dollar - Daily
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Click to Enlarge Name: Pound.png Size: 11 KB
If there was easy money lying around,no one would be forcing it into your
  • #339,268
  • Apr 23, 2013 4:44am Apr 23, 2013 4:44am
Quoting Trader88q
{quote} too risky. it could rebound to 5250 easilly. i will wait 5180.
This is wise decision... I'm waiting to Bear full condition also.
  • #339,269
  • Apr 23, 2013 4:48am Apr 23, 2013 4:48am
and I think that we are in a micro downtrend. It means we are still not broken 5032 level but we are going to that point.
if 5032 will be broken then i will not enter any shorts and will wait 4950.
  • #339,270
  • Apr 23, 2013 4:50am Apr 23, 2013 4:50am
Some times moving up and down is very difficult as i was driving up this hill 1 month ago
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Don’t follow someone else’s trading advice blindly
  • #339,271
  • Apr 23, 2013 5:00am Apr 23, 2013 5:00am
Quoting Pip Anon
{quote} Hope so, short @ 1.5224 targeting 1.5175
Trading within the range is dangerous. UNLESS consolidation follows. anyway
Trade according to current market condition, not what you think would be.
  • #339,272
  • Apr 23, 2013 5:03am Apr 23, 2013 5:03am
Quoting J.Clinton
{quote} Trading within the range is dangerous. UNLESS consolidation follows. anyway
Hi there! Can you able received a private messages?
  • #339,273
  • Apr 23, 2013 5:05am Apr 23, 2013 5:05am
Quoting 5percent
{quote} to me is the strength of yen instead, as if u see clearly, gbpjpy, eurjpy and usdjpy all fell against yen. if usd is strong, they won't sink in usdjpy. eu gu and uj tend to move in the same direction as well, as eu gu gain strength and weakness from their gj ej brothers due to recent's volatility on yen.
Definitively the dollar is strong, but the yen is more strong, that's why UJ down.
Risk Aversion, everything down against dollar and yen.
Market may hold strong roots from now due to oversold zone.
Any lower price(tech. level) is a rare opportunity, at least for today trading.
Trade according to current market condition, not what you think would be.
  • #339,274
  • Apr 23, 2013 5:35am Apr 23, 2013 5:35am
I strongly agree with you mate.

Quoting Trader88q
and I think that we are in a micro downtrend. It means we are still not broken 5032 level but we are going to that point. if 5032 will be broken then i will not enter any shorts and will wait 4950.
  • #339,275
  • Apr 23, 2013 9:10am Apr 23, 2013 9:10am
That was returning point i've suggested which has been touched after about 3 hours now be care
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Don’t follow someone else’s trading advice blindly
  • #339,276
  • Apr 23, 2013 9:12am Apr 23, 2013 9:12am
Now in that area
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Don’t follow someone else’s trading advice blindly
  • #339,277
  • Apr 23, 2013 9:12am Apr 23, 2013 9:12am
Quoting kamifx
That was returning point i've suggested which has been touched after about 3 hours now be care {image}
I can see 5320 before day is out
  • #339,278
  • Apr 23, 2013 9:26am Apr 23, 2013 9:26am
Quoting airafx
{quote} :] The bull will action
Not finished yet :-)
  • #339,279
  • Apr 23, 2013 9:29am Apr 23, 2013 9:29am
Is it good time for short ?

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  • #339,280
  • Apr 23, 2013 9:36am Apr 23, 2013 9:36am
As far as I know, many traders have loaded shorts. The market is very critical at this level.

Quoting pindang
Is it good time for short ? {image}
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