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Cable Update (GBPUSD)

  • #339,481
  • Apr 25, 2013 9:07am Apr 25, 2013 9:07am
Close all long positions now and open sell positions.

As inside bar has signaled a reversal/correction.

An inside bar has formed on the 1 hour chart and is also forming on the 4 hour chart.
  • #339,482
  • Apr 25, 2013 9:07am Apr 25, 2013 9:07am
Why doesn't fall the price after 200 pip movement up and positive us news? What I am missing?
I want to buy PATIENCE
  • #339,483
  • Apr 25, 2013 9:08am Apr 25, 2013 9:08am
Quoting eitan1010
{quote} u r so right bro. usually i am cool man with my hash..
Yeah it tends to do that for us
Come with me if you want to live....
  • #339,484
  • Apr 25, 2013 9:11am Apr 25, 2013 9:11am
Quoting matheszabi
Why doesn't fall the price after 200 pip movement up and positive us news? What I am missing?
A big reversal is about the take place.

The best forex indicators are price action it self.

The price has formed an inside bar on the 1 hour chart,
  • #339,485
  • Apr 25, 2013 9:12am Apr 25, 2013 9:12am
There is market chatter of commercial buyers at 0.8500 on EURGBP which will push GBPUSD lower.
  • #339,486
  • Apr 25, 2013 9:18am Apr 25, 2013 9:18am
Price will decline to stall at 1.5340 then steadily freefall like a feather to 1.4800.
  • #339,487
  • Apr 25, 2013 9:20am Apr 25, 2013 9:20am
Quoting FXMindset
{quote} yeap sir,it seem like a valid ascending channel on daily
Interesting spot here on all higher TF's Sir Mindset .

I'm off to bed, will see what tomorrow holds for us
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpusddaily.png Size: 25 KB
Click to Enlarge Name: gbpusdweekly.png Size: 32 KB
Click to Enlarge Name: gbpusdmonthly.png Size: 24 KB
Come with me if you want to live....
  • #339,488
  • Apr 25, 2013 9:21am Apr 25, 2013 9:21am
short @5442... my indos pointing down... hope this is a right decision...
  • #339,489
  • Apr 25, 2013 9:22am Apr 25, 2013 9:22am
Quoting mintfx
Price will decline to stall at 1.5340 then steadily freefall like a feather to 1.4800.
,

same same ...

Let's see
Come with me if you want to live....
  • #339,490
  • Apr 25, 2013 9:23am Apr 25, 2013 9:23am
  •  Noeliu
  • | Joined Apr 2013 | Status: Hit SL?? Clicked the wrong button | 51 Posts
Quoting mintfx
Price will decline to stall at 1.5340 then steadily freefall like a feather to 1.4800.
I dont think so. I think I'll retrace till 61.8 fib on 1.5400 and then test again its new high up on 1.5530, acording to daily channel up
  • #339,491
  • Apr 25, 2013 9:28am Apr 25, 2013 9:28am
The bears are now starting to reclaim there territory.

This was always a bear market to 1.4800. The GDP release was IMO expected and not that surprising at all. There was talks last month that the UK has missed the triple dip recession. Therefore it is lagging news today. The reason for good data today was explained earlier . . . the fantastic british weather. The sun came out late, but when it did, it certainly did. And out everybody was shopping and spending; hence the good data.
  • #339,492
  • Apr 25, 2013 9:36am Apr 25, 2013 9:36am
Quoting Ill-b-back
{quote} Interesting spot here on all higher TF's Sir Mindset . I'm off to bed, will see what tomorrow holds for us {image} {image} {image}
very nice chart sir
If there was easy money lying around,no one would be forcing it into your
  • #339,493
  • Apr 25, 2013 9:49am Apr 25, 2013 9:49am
I set my short 1.5466 & 1.5424 to 1.5190. Good Luck to us!!!
  • #339,494
  • Apr 25, 2013 9:53am Apr 25, 2013 9:53am
The inside bar on the 1 hour chart: After much bullish pressure and buying, buyers and sellers were balanced at this point; thus causing the inside bar. As most of the market at this point were buyers (which is why the price went up) Buyers (most of the market started to close long positions, in effect selling the pound, causing the price to go lower.

And since it has always been a BEAR market, any upward movements will be exhausted very quickly allowing the bearish price to continue downwards without the need of any fundamental or catalysts, as it is only natural for it to go down, and will require some force to move it up. Much like how gravity works. Because after the inside bar, the buyers had moved the the sideline, the price will continue declining, unless a major of force of buyers come into play again e.g. NFP etc.

I would suggest selling until NFP.
  • #339,495
  • Apr 25, 2013 9:54am Apr 25, 2013 9:54am
Quoting skyhawkps
I set my short 1.5466 & 1.5424 to 1.5190. Good Luck to us!!!

same same good luck
when GOD brings you a challenge he also gives you the power to deal with it
  • #339,496
  • Apr 25, 2013 10:06am Apr 25, 2013 10:06am
Quoting mintfx
Price will decline to stall at 1.5340 then steadily freefall like a feather to 1.4800.
  • #339,497
  • Apr 25, 2013 10:28am Apr 25, 2013 10:28am
Quoting skyhawkps
I set my short 1.5466 & 1.5424 to 1.5190. Good Luck to us!!!
where is your chart ? what made you selling two levels with the very same target ? What kind of confirmation or signal occured that made u selling this pair ?

This aint any casino or s.th. like that :-x

Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdh4.25.4.13.png Size: 103 KB


best,
Jonas
Hero calls followed by margin calls...
  • #339,498
  • Apr 25, 2013 10:32am Apr 25, 2013 10:32am
Some must carry a little realistic levels when coming to this thread and stop smoking ****
I read within the replies some say GU will fall to 1.48 and all that ****
Supports to look at for now without the occultism, 1.542 first followed by 1.538 and 1.534
The third choice looks the safest but the second looks realistic for today even if would not go that far.
To keep a bullish outlook for a 1.55 and 1.5580, a daily close in the 1.5430-40 range must be.
Trade according to current market condition, not what you think would be.
  • #339,499
  • Apr 25, 2013 10:36am Apr 25, 2013 10:36am
Quoting matheszabi
Why doesn't fall the price after 200 pip movement up and positive us news? What I am missing?
there r only a couple of news that really have an affect on the markets after they are being published.
The others are either even priced in or out of importance. Dont care about news.

Care about your chart and the technical analysis. Then you'll do much better when you got the 'feeling' for it

best,
Jonas
Hero calls followed by margin calls...
  • #339,500
  • Apr 25, 2013 10:54am Apr 25, 2013 10:54am
Reversal pin bar formed on 1 hour EURGBP which will cause the GBPUSD to go down in corellation.
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