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Cable Update (GBPUSD)

  • #341,241
  • May 19, 2013 12:40pm May 19, 2013 12:40pm
Quoting rikusks
Just an alternate view I have on the GBPUSD. Am expecting an continuation downtrend of the sterling pound after 50% retracement previously. Looks like it is to set off to 1.4850 level again. {image}

very nice doc.. thanx..
I still need a trading break soon!!! "Loose some to win more" --Baher A.
  • #341,242
  • May 19, 2013 12:51pm May 19, 2013 12:51pm
Hi Guys

I am new in here but i am trading for long time and only focusing on Gbp/Usd. I am trading most of the days and will try to post here once a day. Later when i have more time i will post the way i am trading. I am mostly trading shorterd trades but when i see the opportunity arising for a longer term trade i take it. I will be having a peding order in on Gbp usd for a buy base on the H4 chart at 1.51418. Will update on my stop loss when the trade is hit.

Regards and hope i can add something to this comunity
  • #341,243
  • Edited 4:12pm May 19, 2013 3:58pm | Edited 4:12pm
I am brewing a point of view that should take us from 1.50500 up to a first target at 1.55500 and second target 1.5650 on GBPUSD!

Entry only if this month closes above 1.52300 SL 1.50000.. R/R should be evaluated at month closing. Best practice would be to follow the daily chart for support confirmation at 1.52300 of course. But some times confirmation doesn't happen like that

This is also not conflicting with the currently observed and followed HS pattern since it is the one which should take us to the price where I think will confirm my theory. To me breaking 1.49000 and closing there or below there would cancel this outlook completely. I know everyone will think that we will break and confirm 49000, but I will want to wait and see. I don't mean not trade for that long of course but I mean for this analysis lol

This is purely technical and is not biased by any fundamental analysis. And, it is just a wild thought and I am still working on the analysis and confirmations.

Here is my current sketching pad:

Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdmonthly.png Size: 62 KB


I still need a trading break soon!!! "Loose some to win more" --Baher A.
  • #341,244
  • May 19, 2013 5:08pm May 19, 2013 5:08pm
I am still bullish on GBPUSD. If it goes further down, then I am more convinced that this pair will reach 1.62. But in the meantime, 1.602 is my maximum target. Therefore at 1.58 I will start accumulating short positions. Yes I am not a scalper or daytrader

For this week there is no signal for me yet, which indicates the pair will break either 1.532 or 1.51. So I assume it will go bouncing up and down along that channel. And if 1.532 breached, 1.549 is next hurdle to overcome. Hopefully in the course of the day it will be more clearer.

It is very likely, that the uptrend of Cable will go hand in hand with EURUSD and Gold, as I see broader downturn of USD is coming, although for Gold you can't really say an uptrend, because in my opinion it will only reach 1.6-1.7 to resume its downtrend later in winter time.

So I think for now it is safe for buying Gold and EURUSD along its way down to 1.25-1.27. Target is 1.42-1.46.

I am not sure about AUDUSD. It seems to me that this pair will go further south to 0.93 or even 1.89 before climbing back up to 1.3-1.7. But as I said, I am not sure about this, as the chart is confusing to me, or rather shocking to be honest.
Make it simple, but not simpler - Einstein
  • #341,245
  • May 19, 2013 5:14pm May 19, 2013 5:14pm
Quoting Tradereader
Hi Guys I am new in here but i am trading for long time and only focusing on Gbp/Usd. I am trading most of the days and will try to post here once a day. Later when i have more time i will post the way i am trading. I am mostly trading shorterd trades but when i see the opportunity arising for a longer term trade i take it. I will be having a peding order in on Gbp usd for a buy base on the H4 chart at 1.51418. Will update on my stop loss when the trade is hit. Regards and hope i can add something to this comunity
Hello

looking forward for you input..

cheers
I still need a trading break soon!!! "Loose some to win more" --Baher A.
  • #341,246
  • May 19, 2013 6:17pm May 19, 2013 6:17pm
Quoting baherhosni
{quote} Hello looking forward for you input.. cheers
Hi baher ,
I see you are focusing on gbp/usd pair , may i know whats ur insight for the pair at this level please ?

Thanks
“Don't cry because it's over, smile because it happened.”
  • #341,247
  • May 19, 2013 6:30pm May 19, 2013 6:30pm
Quoting balanced2012
{quote} Hi baher , I see you are focusing on gbp/usd pair , may i know whats ur insight for the pair at this level please ? Thanks
on that monthly chart, i want to see if the dashed TLs crossing in the middle of this not very strong monthly demand area along with the passing of the long term rising orange TL will give more strength to this demand area and by the end of the month push us back up indicating a possible bounce..

in a previous post a few pages back i was looking at the USD basket index and found that it too is entering a confluence of multiple resistance TLs in amonthly supply area and a rising wedge!

cheers
I still need a trading break soon!!! "Loose some to win more" --Baher A.
  • #341,248
  • May 19, 2013 6:35pm May 19, 2013 6:35pm
Quoting baherhosni
{quote} on that monthly chart, i want to see if the dashed TLs crossing in the middle of this not very strong monthly demand area along with the passing of the long term rising orange TL will give more strength to this demand area and by the end of the month push us back up indicating a possible bounce.. in a previous post a few pages back i was looking at the USD basket index and found that it too is entering a confluence of multiple resistance TLs in amonthly supply area and a rising wedge! cheers

Thanks mate !!

Sounds like a full studied trading plan , well done

Cheers !!!
“Don't cry because it's over, smile because it happened.”
  • #341,249
  • May 19, 2013 8:57pm May 19, 2013 8:57pm
Hey guys i've decided to start my own Thread here on forexfactory.
where i will be posting Trade analysis on multiple pairs i find interesting on a daily basis.
im sure some of you will find it interesting.
looking forward to see some people there.

http://www.forexfactory.com/showthread.php?t=428301
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #341,250
  • May 19, 2013 9:57pm May 19, 2013 9:57pm
  •  Noeliu
  • | Joined Apr 2013 | Status: Hit SL?? Clicked the wrong button | 51 Posts
Lets see if TDI cross up after RSI already crossed. If so, we could have a retrace of, at least 50 pips or more on the general down trend.
Take care everybody!
Attached Image (click to enlarge)
Click to Enlarge Name: Captura.PNG Size: 52 KB
  • #341,251
  • May 19, 2013 10:23pm May 19, 2013 10:23pm
Quoting baherhosni
{quote} on that monthly chart, i want to see if the dashed TLs crossing in the middle of this not very strong monthly demand area along with the passing of the long term rising orange TL will give more strength to this demand area and by the end of the month push us back up indicating a possible bounce.. in a previous post a few pages back i was looking at the USD basket index and found that it too is entering a confluence of multiple resistance TLs in amonthly supply area and a rising wedge! cheers
Hi, I'm a newbie here..Thanks to all senior here for posting all informative chart and explanation.really appreciated that.. My View for GBP USD, TF H1, i look forward for bullish sentiment. At the moment, divergence already developed both in TF h1 and H4. If price able to break 1.5290, i will enter long with target TP at 1.5390 (fibo 161), area which right shoudler to be completed. If PA break previous low, i will short, with target TP 1.5040..
  • #341,252
  • May 19, 2013 11:08pm May 19, 2013 11:08pm
Good Morning , just checking the market start. My child is excited about gold price at 134/44 this morning as I told before the sleep. ok but this is bounce area , whatever small it be 1361/87 to more down 1320-07 , actually 1300 test , can be only 1320 test alone before UP for 1400, 1419/25,1450,1500,1555 limit.Next of the next next support goes to 1227 , 1157 before the critical 1044/32 all if 1555 not broken .

anyway ranging down likely play today before up tomorrow or next day & so wait for the low play .
other pairs similarly.
fontu
Attached Image(s) (click to enlarge)
Click to Enlarge Name: golddaily.png Size: 26 KB
Click to Enlarge Name: goldweekly.png Size: 36 KB
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #341,253
  • May 19, 2013 11:37pm May 19, 2013 11:37pm
This morning i will take a buy trade (more or less at the current level) with 2.0 lots aiming for 50 pips with 40 pips sl.

Take care
  • #341,254
  • May 20, 2013 1:37am May 20, 2013 1:37am
Quoting Tradereader
This morning i will take a buy trade (more or less at the current level) with 2.0 lots aiming for 50 pips with 40 pips sl. Take care
I'm waiting for London open to see where this goes. Bank holidays in Europe in particular Frankfurt is closed. Failed to break 200 which happens to be dp. Good luck.
  • #341,255
  • May 20, 2013 1:44am May 20, 2013 1:44am
Quoting fontu
Good Morning , just checking the market start. My child is excited about gold price at 134/44 this morning as I told before the sleep. ok but this is bounce area , whatever small it be 1361/87 to more down 1320-07 , actually 1300 test , can be only 1320 test alone before UP for 1400, 1419/25,1450,1500,1555 limit.Next of the next next support goes to 1227 , 1157 before the critical 1044/32 all if 1555 not broken . anyway ranging down likely play today before up tomorrow or next day & so wait for the low play . other pairs similarly. fontu {image}...
http://www.forexfactory.com/showthread.php?p=6691196 <--- visit and post here also
  • #341,256
  • May 20, 2013 5:11am May 20, 2013 5:11am
Good day traders. First order of the week: cable short from 1,5190.

Wish all GL and green pips this week!
Twitter: MrC_Forex ; Facebook: /pages/MrC-Forex/197693770247397
  • #341,257
  • Edited 5:54am May 20, 2013 5:40am | Edited 5:54am
As I said before low plays still in hand , best for scalping with risk-benefit calculation always in this weekly ranging price action probable . Direct play the low as seen weekend , not happened in eu , broken limits for down but still it is intact till 2878 +89 breaks with confirmation 2930 & last 35 for 3011, all those levels except the 1st will remain intact if plays lows now without extension further down below 2771/50 to 2663.that is 2663 not immune for the next up correction next time .if now breaks 2838 with confirmation with 2797 then all low plays may happen .so will see what will do it , likely lows as analysed before not to marry with . so short should do well with care .
similarly for gu , breaks 5182 down exclusive , then confirmation with 65 & 57 to go 5026 & lows 4950.upside breaks 5226 with confirmation 5263 & last 5322.

fontu
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpusdh4.png Size: 28 KB
Click to Enlarge Name: eurusdm30.png Size: 41 KB
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #341,258
  • May 20, 2013 7:05am May 20, 2013 7:05am
I expect GBPUSD to retest 1.53 and bounce back down to 1.523
Make it simple, but not simpler - Einstein
  • #341,259
  • May 20, 2013 7:21am May 20, 2013 7:21am
Quoting Ri Dwe
I expect GBPUSD to retest 1.53 and bounce back down to 1.523
We will see, 1.522x area seems like too strong, i remain bearish,,,,
  • #341,260
  • May 20, 2013 7:42am May 20, 2013 7:42am
Quoting Red Alert
{quote} We will see, 1.522x area seems like too strong, i remain bearish,,,,
The stronger the resistance, the higher it will run, someone is accumulating

If it goes down I will add up my long positions.
Make it simple, but not simpler - Einstein
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