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Cable Update (GBPUSD)

  • #339,501
  • Apr 25, 2013 9:03am Apr 25, 2013 9:03am
Quoting mintfx
Reversal pin bar formed on 1 hour EURGBP which will cause the GBPUSD to go down in corellation.
Hero calls followed by margin calls...
  • #339,502
  • Apr 25, 2013 9:03am Apr 25, 2013 9:03am
Quoting mintfx
Reversal pin bar formed on 1 hour EURGBP which will cause the GBPUSD to go down in corellation.
will be correction thats the natural GBPUSD way because of triple dip recession + buyer exhausted.

like the old man said,"everythings gone up must be going down"

  • #339,503
  • Apr 25, 2013 9:11am Apr 25, 2013 9:11am
Quoting PhAnTi'
{quote} 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 {image} best, Jonas
You don't need to be that over agitated Jonas.

I will tell you why me or you or he or she or any one who want to short there or 1.547* could had done that easily without looking at any chart.

It's near the highest level reached during and after the Jobless Claims that showed positive data for the Dollar, not to forget that the pair on a very overbought level and exhausted in this time. You can add too what had said in my previous post that a daily close in the 1.5430/40 range will keep the bullish outlook(enough range to take some profit from such a trade or have low sl number)
Conclusion: May stand with the first 1.5466 he posted but not with the second nor with the take profit(1.519) very early to tell, unless the prediction machine started working
Trade according to current market condition, not what you think would be.
  • #339,504
  • Apr 25, 2013 11:14am Apr 25, 2013 11:14am
I am read some people targeting 1.58 - 1.59 number ?
Give it 1.55xx and lets see..
Attached Image
If there was easy money lying around,no one would be forcing it into your
  • #339,505
  • Edited 11:41am Apr 25, 2013 11:29am | Edited 11:41am
So they got gold , more correction , specially gu & hbut not more or enough to stay as such , bo before any decision GO more up or very soon .
eu ok , a little exaggerated pullback just , now go below 3000 again & hold restart . That is time to take action .
fontu
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #339,506
  • Apr 25, 2013 2:56pm Apr 25, 2013 2:56pm
GBPusd only up movement in next few days as GDP advance today as result so 1.55 and 1.56 next level to be in touch
  • #339,507
  • Apr 25, 2013 3:38pm Apr 25, 2013 3:38pm
Quoting fatpanda
{quote}
Are you clapping it because you strongly agree or not?
  • #339,508
  • Apr 25, 2013 3:46pm Apr 25, 2013 3:46pm
Quoting J.Clinton
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.
I am strongly agree with u... that's way I'm watching my two short if incase will go bull sudden. I am looking at Stoch signal in different hrs... they are facing north now, so well see!
  • #339,509
  • Apr 25, 2013 4:55pm Apr 25, 2013 4:55pm
Quoting skyhawkps
{quote} I am strongly agree with u... that's way I'm watching my two short if incase will go bull sudden. I am looking at Stoch signal in different hrs... they are facing north now, so well see!
No Longs would be safe(somehow, no guarantee) before 1.538 or 1.536 or 1.531, as well as no shorts safe before 1.55* or 1.56*
This is not for scalpers but wide range trading.
Like someone said a couple of posts behind on this thread, no indicator works good in such a high volatility market, you must wait for a tick under the 70 or 80.
Other times you can Long 20 or 30 and short 70-80 on the Higher TF favorable
Trade according to current market condition, not what you think would be.
  • #339,510
  • Apr 25, 2013 6:00pm Apr 25, 2013 6:00pm
Quoting J.Clinton
{quote} No Longs would be safe(somehow, no guarantee) before 1.538 or 1.536 or 1.531, as well as no shorts safe before 1.55* or 1.56* This is not for scalpers but wide range trading. Like someone said a couple of posts behind on this thread, no indicator works good in such a high volatility market, you must wait for a tick under the 70 or 80. Other times you can Long 20 or 30 and short 70-80 on the Higher TF favorable
"...you must wait for a tick under the 70 or 80." mmmmm.... I dunno what your talking about... how can u I tell... or do you have reference?
  • #339,511
  • Edited 7:05pm Apr 25, 2013 6:44pm | Edited 7:05pm
retracement is counter-trend and against current momentum, which is slow, and currently only until 1.5425. This is why retracement is quite a long process, especially against a strong trend/steroid. Break out is fun, but buying here is not really cool unless those whom picked up a higher lo @ 1.5425 with 6 pips stop under 1.5420. If really so, buy higher is safer or wait for price to close higher and consolidate above high before launching a small stop loss buy.

1.5420 is main up-trend support now, only under 1.5420 it might get a reaction on 1.5410 area but unlikely , retracement can go deeper. Now price might test to get a lower high on daily's chart as seen on daily's supply wick area.

Failure to form a lower high or double top test, price will take further buying power to create a higher hi to challenge 1.5500.

BOJ might also provide irrational strength or weakness to GBP/JPY which may also indirectly/direct influence GBP/USD.

EURUSD look for hourly close under 1.3025/27, before any add on 38.2 shorts with small stops. Closed above 1.3028/30, there's no support turn resistance, no point shorting as it already tooked the higher lo earlier from 1.300* areas.

Yuan providing strength to Majors against USD currently. Now that yuan is coming into the exchange, USD might lose some of its market shares during the transition. As people can trade with china directly. Won't be surprise Yuan might become a major very soon with thinner spreads due to being the main export country to most world out there. Sadly, Yuan will likely to get more manipulated as china love to do dirty tricks on it, and no one can stop them don't expect authority like FSA, SEC, ASIC etc, as china don't even have copyrights rules, they can share any movies etc and clone all products, just like how dirty it is in trading china's indices/stocks, all on insider trading and early leaks. The FX arena might be even more tougher to trade now, as the riches of china begin to get easier access. I have known some students in singapore from china, trading the china indices/stocks and make more than 20k a month through insider trading, and yes that's how dirty it is. Don't expect authority to bust them easily, not at recent times at least.

Gold retracing very strongly, main resistance 1495, above 1495 is main support turns resistance level @ 1520. Always wait for reaction at main levels before joining in. Potentially is 1520, as the longs without stop loss there might exit their under-water trade, i am assuming to those funds and big money that tanked during the sell off. As they would exit their longs there which got under-water for too long,but they still have longs from under from 1320/50. Upon exiting the longs at those levels, price might get a strong reaction into a sell mode from there.

However, gold is not currency nor stock. don't expect it to reacts the same. I wonder those retail-shorts under without stop losses is how now being influenced by analysts.
  • #339,512
  • Apr 25, 2013 7:24pm Apr 25, 2013 7:24pm
Quoting 5percent
retracement is counter-trend and against current momentum, which is slow, and currently only until 1.5425. This is why retracement is quite a long process, especially against a strong trend/steroid. Break out is fun, but buying here is not really cool unless those whom picked up a higher lo @ 1.5425 with 6 pips stop under 1.5420. If really so, buy higher is safer or wait for price to close higher and consolidate above high before launching a small stop loss buy. 1.5420 is main up-trend support now, only under 1.5420 it might get a reaction on 1.5410...
Manipulated? Just look at a chart of usd/cny for the last few years, its a straight line down with some plateaus. With an interest rate of 6-7%, its the ultimate carry trade! Its almost like a license to print money. Compare that to hyjinx of the majors with its retracements, stophunts, going back and forth... a chart like that is like going back in time to the 80 and 90s where they ran in almost straight lines.

Right now the only firms who can trade usd/cny are firms like blackstone who can finance themselves in the us and invest in the chinese money markets. All us retailers are stuck with Oanda who charges a negative carry on usd/cnh. =(
  • #339,513
  • Apr 25, 2013 11:20pm Apr 25, 2013 11:20pm
Quoting Iro
{quote} Manipulated? Just look at a chart of usd/cny for the last few years, its a straight line down with some plateaus. With an interest rate of 6-7%, its the ultimate carry trade! Its almost like a license to print money. Compare that to hyjinx of the majors with its retracements, stophunts, going back and forth... a chart like that is like going back in time to the 80 and 90s where they ran in almost straight lines. Right now the only firms who can trade usd/cny are firms like blackstone who can finance themselves in the us and invest in...
Not yet, wait till yuan get more easier accessible to be traded. As i don't even get to trade that yet haha, not in my broker at least.
-----------------------------------------------


Anyway on GBP's updates, GBPUSD tested double top so far, only a breached of former hi will breakout further, else price is prone to down side after a test, a close under 1.5420 and 1.5400 will further confirm the retracement downwards.

a bounce on 1.5425/20 will still put the price on upward steroid.

EURUSD have a lower high so far, and tested the wick area of daily candle.

I am preparing for stops position for US GDP, and is prone to spikes either way during or prior to news. Its a friday, this can shake the market quite badly due to the moves yesterday and weekly closing can be quite biased.

My retracement on GBPJPY hits take profit so far from 153.44, GBPUSD seems to be slow to move, and yen is more volatile and faster to trade while GBPUSD is consolidating at this range.

I have A B C D double top on hour 4 GBPJPY, or daily, with a lower high of recent GBPJPY than previous High as Mark X.
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  • #339,514
  • Edited 11:36pm Apr 25, 2013 11:26pm | Edited 11:36pm
Quoting 5percent
{quote} Not yet, wait till yuan get more easier accessible to be traded. As i don't even get to trade that yet haha, not in my broker at least. ----------------------------------------------- Anyway on GBP's updates, GBPUSD tested double top so far, only a breached of former hi will breakout further, else price is prone to down side after a test, a close under 1.5420 and 1.5400 will further confirm the retracement downwards. a bounce on 1.5425/20 will still put the price on upward steroid. EURUSD have a lower high so far, and tested the wick area...
This is what i referred to on GBPJPY. AB = CD with D lower high than Mark X we have double top on hour 4 or daily. Trend line will confirm the current down wards move above tl break, further bullish out look of pull back. only a break of 100 on USD JPY will provide more power to GBPUSD and GBPJPY's rally.

London's open should move the USD's pairs , whether a continuation or retracement down.

I am looking at a pull back likely to test the body of bull and a higher lo before US GDP. Still prone to any BOJ's farts.
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  • #339,515
  • Apr 25, 2013 11:37pm Apr 25, 2013 11:37pm
GU

Roughly and overall ,

using quarterly fib.. it's still i below 50 quarterly fib and above 38 quarterly fib.
using monthly fib.. she is over shoot and already in 1.414-1.61 of monthly fibbing.

h4 tf : kind of shark pattern and is in 1.274 of OX leg ( is this C ? ) with current BC leg is about 275 - ish pips. A point is about 100 ish pips from current position.





Quoting 5percent
{quote} Not yet, wait till yuan get more easier accessible to be traded. As i don't even get to trade that yet haha, not in my broker at least. ----------------------------------------------- Anyway on GBP's updates, GBPUSD tested double top so far, only a breached of former hi will breakout further, else price is prone to down side after a test, a close under 1.5420 and 1.5400 will further confirm the retracement downwards. a bounce on 1.5425/20 will still put the price on upward steroid. EURUSD have a lower high so far, and tested the wick area...
not euphoria follower
  • #339,516
  • Apr 25, 2013 11:38pm Apr 25, 2013 11:38pm
Quoting iqyu5an
GU Roughly and overall , using quarterly fib.. it's still i below 50 quarterly fib and above 38 quarterly fib. using monthly fib.. she is over shoot and already in 1.414-1.61 of monthly fibbing. h4 tf : kind of shark pattern and is in 1.274 of OX leg ( is this C ? ) with current BC leg is about 275 - ish pips. A point is about 100 ish pips from current position. {quote}
above 38.2 is bullish for 50 and 61.8.

might test 38.2 on pull back before move up. Pull back might want to see support price action on 38.2 before loading longs above it. Failure might dive to 23.6 as its a Friday, who knows what will shake the market.
  • #339,517
  • Apr 25, 2013 11:42pm Apr 25, 2013 11:42pm
pending long for that levels in last month high +/- 15 % of prev last month fib or opening level of last month fib


Quoting 5percent
{quote} above 38.2 is bullish for 50 and 61.8. might test 38.2 on pull back before move up. Pull back might want to see support price action on 38.2 before loading longs above it. Failure might dive to 23.6 as its a Friday, who knows what will shake the market.
not euphoria follower
  • #339,518
  • Apr 26, 2013 1:02am Apr 26, 2013 1:02am
Quoting fontu
So they got gold , more correction , specially gu & hbut not more or enough to stay as such , bo before any decision GO more up or very soon . eu ok , a little exaggerated pullback just , now go below 3000 again & hold restart . That is time to take action . fontu {image} {image} {image} {image}

Very ok so far . Today's London open is most important as per & next NY open & action as further confirmation for GO or again crazy extension of the rest of life if still left behind. So save life for next great action if may come up.
fontu
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Click to Enlarge Name: goldh4.png Size: 27 KB
Click to Enlarge Name: gbpusdh1.png Size: 23 KB
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #339,519
  • Apr 26, 2013 1:02am Apr 26, 2013 1:02am
Price action is the strongest indicator. Several inside bars formed on the 1 hour chart.
  • #339,520
  • Apr 26, 2013 1:06am Apr 26, 2013 1:06am
Quoting mintfx
Price action is the strongest indicator. Several inside bars formed on the 1 hour chart.
| Earlier morning Asia tested Resistance or Wick area of supply zone. Those without entry and without directional biased, can actually trade after the range is broken for safer direction. Below support or above current resistance's range.

Price is very choppy so far for trapping both sides. I would rather buy higher if its meant to go up, and choose to sell the resistance earlier as mentioned in Asia. Hedge / stops can come after at supply zone for minimal's damage.
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