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Cable Update (GBPUSD)

  • #339,421
  • Apr 25, 2013 4:39am Apr 25, 2013 4:39am
pound breaking bad
bracing for the next two weeks on technicals
  • #339,422
  • Apr 25, 2013 4:46am Apr 25, 2013 4:46am
Now, pound went up 1.5447... is this continue going up or slowing going down now? I'm confuse now.
  • #339,423
  • Apr 25, 2013 4:52am Apr 25, 2013 4:52am
Maybe 30 pips further up
Come with me if you want to live....
  • #339,424
  • Apr 25, 2013 4:55am Apr 25, 2013 4:55am
can anyone tell me what is the meaning and when it gonna start: Q2 13 ?
  • #339,425
  • Apr 25, 2013 4:57am Apr 25, 2013 4:57am
Quoting Likerty
HH in H1 and swing formation at 5380's would act as a confirmation for this scenario.. I'm betting already.. {image}
Well, well, well...
69
  • #339,426
  • Apr 25, 2013 4:58am Apr 25, 2013 4:58am
Quoting Ill-b-back
Maybe 30 pips further up
thanks mate! Forecasts in mediaserver.fxstreet.com is 1.5445 down to 1.5233, and if breakout then it will go down to 1.5123.
  • #339,427
  • Apr 25, 2013 5:00am Apr 25, 2013 5:00am
1.54239 continues to hold this may be a bloodbath for the bears time will tell
  • #339,428
  • Apr 25, 2013 5:10am Apr 25, 2013 5:10am
clean 200 pips on the fibs and PA
done for the week here.
Attached Image (click to enlarge)
Click to Enlarge Name: pound fibbs.PNG Size: 61 KB
  • #339,429
  • Apr 25, 2013 5:10am Apr 25, 2013 5:10am
Quoting eitan1010
going short at 1.54499

good to wait.. now wait 50/80 pips tp. lets see..
when GOD brings you a challenge he also gives you the power to deal with it
  • #339,430
  • Apr 25, 2013 5:18am Apr 25, 2013 5:18am
Quoting Maso
I usually trade on a long term plan. My shorts on cable is at 1.54 level. my long on EJ is at 127 level. Take profit on cable is at 1.50 level and for EJ at 140. Good luck mate. {quote}
Hello maso, are you ok? I don't see your post today
  • #339,431
  • Apr 25, 2013 5:23am Apr 25, 2013 5:23am
Quoting skyhawkps
{quote} thanks mate! Forecasts in mediaserver.fxstreet.com is 1.5445 down to 1.5233, and if breakout then it will go down to 1.5123.
I am in at 5440 and will load additional short at .551 if need be.

I shall keep these for a couple of months if need be until I see 1.5333 again.
  • #339,432
  • Apr 25, 2013 5:23am Apr 25, 2013 5:23am
Better than expected GDP figures proved to be a big mover, moving the rate over 160 pips after release.
  • #339,433
  • Edited 5:48am Apr 25, 2013 5:25am | Edited 5:48am
such consolidation have 2 reasons.

1 - Accumulation of more sell orders that are going against the trend to only keep pumping up. But looks less likely until a pull back, as its not very convincing for smart money to load more longs here. -> If seller keep doing a small stop loss kind of order at every new high, or use BE very quickly, his sell would become a buy upon stopped out. Thus adding more fuel to the rally. -> That's why fear and panic drives trend.

2 - Accumulation of late buyers, then to only swing it down when fundamental changes. Bull traps. Common pump and dump scheme, especially in New york.


Thus, always trade with a stop/ hedge and with a plan.

Retracement only begins under 1.5422, if not there's no retracement base yet. A base is required to confirm take profits/ trailing stops get hits. And sellers to gain control at a particular region.

Price touches 1.5450, if offers at this level is valid, expect at least a 40-50 pips swing down.

If price refused to go down, price have no ceiling until otherwise. This is a surprised data which causes more knock out on the levels below 1.5400, with stop loss buy orders during the news. When sellers exit a position, he is turned into a buyer. - > commonly in stop losses or margin call.

A seller at 1.5200 is not a seller at 1.53 when price is at 1.53, but he's in margin. Similarly, a seller @ 1.5300 is not seller at 1.5450 despite holding 150 pips in red. But.. A seller is a buyer @ 1.54 when he exited his sell of 1.52, IS a buyer. Thus when one close an order, read what is there on the close.

A new buyer enters a position he's a buyer until he sells his contract/order.

Thus the breakout, as sellers are only mainly retailers. May this enlightened those why breakout are huge.

Retracement's ignition have move to under 1.5429 now on moving averages.
  • #339,434
  • Apr 25, 2013 5:32am Apr 25, 2013 5:32am
Quoting nahman
Better than expected GDP figures proved to be a big mover, moving the rate over 160 pips after release.
no shit, Sherlock
  • #339,435
  • Apr 25, 2013 5:44am Apr 25, 2013 5:44am
Quoting 5percent
such consolidation have 2 reasons. 1 - Accumulation of more sell orders that are going against the trend to only keep pumping up. But looks less likely until a pull back, as its not very convincing for smart money to load more longs here. -> If seller keep doing a small stop loss kind of order at every new high, or use BE very quickly, his sell would become a buy upon stopped out. Thus adding more fuel to the rally. -> That's why fear and panic drives trend. 2 - Accumulation of late buyers, then to only swing it down when fundamental changes. Bull...
Keep Post and Go Go Singapore !
If there was easy money lying around,no one would be forcing it into your
  • #339,436
  • Apr 25, 2013 5:45am Apr 25, 2013 5:45am
Quoting eitan1010
{quote} good luck bro
Hi eitan,

You Too

We may' see them pips today itself!!
The market is waiting for american's to sell in the usa perhaps.

Regards,
dormin
"be content with your pay" - John the Baptist
  • #339,437
  • Edited 7:09am Apr 25, 2013 6:07am | Edited 7:09am
This is how i see how prices moves. 1.5334 should also be the area of around 50 fibo., stronger support now @ 1.5290/96 area as its the area of burst/marabuzo pa.

where the breakout truly start.

Just nice, my buy stop got slipped there too, instead of 1.5305, as probably there's a seller there who closed his sell there for me to buy.

retracement truly begins under 1.5420, any shorts above are early entries likely to catch a grasshopper, but should price closed under 1.5420, shorts are good until challenge on 1.5380s. , below 1.5380 hold shorts till 1.5330/1.53.

new update before unemployment claims : retracement ignitions has move to 1.5438 now, but prone to any spikes of incoming news.
Attached Image (click to enlarge)
Click to Enlarge Name: price moves.png Size: 48 KB
  • #339,438
  • Apr 25, 2013 6:09am Apr 25, 2013 6:09am
There really can be no more opportunities to buy at this level after a 200 pip run. Need price to go to 5411 at least before can consider buy.
  • #339,439
  • Apr 25, 2013 6:17am Apr 25, 2013 6:17am
[quote=dormin;6635714]{quote} Hi eitan, You Too We may' see them pips today itself!! The market is waiting for american's to sell in the usa perhaps. Regards, dormin[/quote

this is my thinking too
lets see, we will wait approx 2 hour to see it coming ..
when GOD brings you a challenge he also gives you the power to deal with it
  • #339,440
  • Apr 25, 2013 6:19am Apr 25, 2013 6:19am
Quoting Thfc
There really can be no more opportunities to buy at this level after a 200 pip run. Need price to go to 5411 at least before can consider buy.

not true!! i saw cable do more than 200 pip aday even 300 sometimes.
when GOD brings you a challenge he also gives you the power to deal with it
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