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Cable Update (GBPUSD)

  • #341,701
  • May 27, 2013 1:09am May 27, 2013 1:09am
Quoting fontu
Not happy with the weekly lows last & some scalpings /interday short still remain open knowingly that playing actually 1 possible lows, no closed . 5157 1 critcal for further correction remain unharmed here & so expecting same as before to down for some more before the real bonce /correction to & above 5322 before the real hit bottom & lows . will see other pairs in favor of my views .so bear still may to continue .Monthly in favor as few days still open for action .Thanksfontu {image} {image} {image} {image}
intersting charts and I agree with everything you have said. I've been short here since march anticipating a wave 3. can you explain your wave counts on these charts please? where you have 1, 2, and 3 marked in gold on the right side of your charts........im a little confused here. it looks to me like your wave 2 goes well beyond the extreme of wave 1. to me that invalidates wave 2 as valid. but then maybe we just have different strategies.....
  • #341,702
  • May 27, 2013 1:14am May 27, 2013 1:14am
Quoting Red Alert
1280 pips last week, ......best week so far...Still have some floating position because of bad entry at NY season, cut loss will be done if needed on monday... The bull has been creating higher and higher low, and also 2 daily bullish candle..... Bull starting in action?... we will see... {image}
congrats!
  • #341,703
  • May 27, 2013 1:27am May 27, 2013 1:27am
Quoting TaoTrader
{quote} congrats!
Dear brother,
thank you very much, ...

You have very good winning ratio, ... 100 % winning is possible, and that is special....
Cable moving in very small range so far, lack of volume.... boring..
  • #341,704
  • May 27, 2013 2:41am May 27, 2013 2:41am
Quoting e.trader
I see cable heading to 1.5193
slowly heading to 5193.
  • #341,705
  • May 27, 2013 4:09am May 27, 2013 4:09am
Attached Image (click to enlarge)
Click to Enlarge Name: gbp-usd.png Size: 62 KB
  • #341,706
  • May 27, 2013 4:25am May 27, 2013 4:25am
Just a two cent opinion of mine..
The GBPUSD continues to close lower for the 3rd week, suggesting that bear force are still in place. However, we saw potential bullish force forming back at the start and end of the week. This is something we have to take note of. On the major trend, we are still expecting downtrend of the GBPUSD, to touch down to 1.4800 or lower. The main issue of the GBPUSD is the await for breakout on the 1.5000 level, that could lead to continuation downward movement of the GBPUSD. Currently, in the short run we do not see any patterns or indicators that suggest a reversal of this pair, but in my opnion, this pair most likely will be testing previous low resistance level first.
As attached is my analysis.

Feel free to comment on my blog too, http://alternateforexiew.wordpress.com
Attached File(s)
File Type: pdf GBPUSD 26MAY.pdf   331 KB | 307 downloads
Knowledge is powerful tool that we can ever have.
  • #341,707
  • May 27, 2013 5:12am May 27, 2013 5:12am
Good progress gu , at climax , 5156 , not 7 yet & now do or die , breaks 5122/18 to go 5100 for the break.
eu 2975 ok , if even 2977 if not the top 2993/7 again .
opp0site can go crazy though without break .
anyway short added to see .
fontu
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurusdh4.png Size: 33 KB
Click to Enlarge Name: gbpusdh4.png Size: 33 KB
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #341,708
  • May 27, 2013 5:28am May 27, 2013 5:28am
GU pricing like it would like to go down.

Add another short now.
Trade your plan.
  • #341,709
  • Edited 5:49am May 27, 2013 5:39am | Edited 5:49am
Quoting TaoTrader
{quote} intersting charts and I agree with everything you have said. I've been short here since march anticipating a wave 3. can you explain your wave counts on these charts please? where you have 1, 2, and 3 marked in gold on the right side of your charts........im a little confused here. it looks to me like your wave 2 goes well beyond the extreme of wave 1. to me that invalidates wave 2 as valid. but then maybe we just have different strategies.....
Thanks , hope talking about gbpusd , using ew but not exactly follow all times as they can be read ,do differently at different time & even a very wave can be misinterpreted or not possible do so. lik, if you see monthly gu chart one can't say where it is actually .
thanks , charts there , hope will help & help me also if any wrong doing in counts as possibility can go multiple dimensions .
Gold hope not asked , still give my views , may be 5th reach already , then 1034 breaks likely , not , only 3rd so far around 2000 then bounce before the limit 1034 , after breaks 1307 for top & continue . whatever my level watch goes 1034.

fontu
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpusdweekly.png Size: 41 KB
Click to Enlarge Name: gbpusddaily.png Size: 32 KB
Click to Enlarge Name: goldmonthly.png Size: 37 KB
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #341,710
  • May 27, 2013 6:06am May 27, 2013 6:06am
And this i hope will come true ...
Attached Image (click to enlarge)
Click to Enlarge Name: Cable 2013.05.27.jpg Size: 262 KB
Trololololo
  • #341,711
  • May 27, 2013 7:02am May 27, 2013 7:02am
I am waiting for a good price action signal to open a short. Wouldn't consider buying before it breaks at least 1.5280.
  • #341,712
  • May 27, 2013 7:08am May 27, 2013 7:08am
GBP / USD is a good short at 1.5140 and I used him I am now waiting to touch on 1.5040 / 1.5000
  • #341,713
  • May 27, 2013 7:51am May 27, 2013 7:51am
EURGBP also confirmed the new support, broke an inside bar setup upwards, so that also suggests that it's better to be short on cable.
  • #341,714
  • May 27, 2013 10:31am May 27, 2013 10:31am
Gotta test 5000 in next day or two then 4800 here we come.
  • #341,715
  • May 27, 2013 11:45am May 27, 2013 11:45am
Quoting forex guru
GBP / USD is a good short at 1.5140 and I used him I am now waiting to touch on 1.5040 / 1.5000
Agreed on that, when it failed to break past 1.5155 (i.e. previous low resistance, not to mention graveyard doji at that resistance level too) it somehow showed some good sign of reversal.
Knowledge is powerful tool that we can ever have.
  • #341,716
  • May 27, 2013 12:25pm May 27, 2013 12:25pm
A bearish movement is inevitable for now....
  • #341,717
  • May 27, 2013 2:06pm May 27, 2013 2:06pm
Quoting mumuy
A bearish movement is inevitable for now....
Nothing inevitable in forex , market can take any action .
& yes , it broken 5100 , H1 printed a bearish candle but not in h4 candle bullish . limited can be though as all for very short time only . will wait see it breaks for next day but may hold for the night above it .
no fight , if goes ur way it's good for u , not ? say sorry to urself.

fontu
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdh4.png Size: 34 KB
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #341,718
  • May 27, 2013 2:29pm May 27, 2013 2:29pm
Quoting fontu
{quote}Nothing inevitable in forex , market can take any action . & yes , it broken 5100 , H1 printed a bearish candle but not in h4 candle bullish . limited can be though as all for very short time only . will wait see it breaks for next day but may hold for the night above it . no fight , if goes ur way it's good for u , not ? say sorry to urself. fontu {image}
I still need a trading break soon!!! "Loose some to win more" --Baher A.
  • #341,719
  • Edited 5:24pm May 27, 2013 4:20pm | Edited 5:24pm
I'm expecting a Fall , and a bounce but not too sure where ( Demand level ...) ..
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdh1.png Size: 62 KB
  • #341,720
  • May 27, 2013 4:40pm May 27, 2013 4:40pm
Hello all,
an updated view on the Dollar Index. The current price dynamics is very important as price could repeat last year's move (now, repeats in history are very rare, but that could still happen). Let me show you what I mean:

The 84.70 area is the first target of the 81.40 area of support that found participation at the beginning of May (corresponding to Euro’s lower low at 1.3240). The 84.70 area lines up with previous highs in the Dollar Index which could suggest profit taking from those levels. If history repeats (it rarely does though) we could see something similar to what happen last year in the Dollar Index.

Attached Image (click to enlarge)
http://www.forexfactory.com/attachment.php?attachmentid=1201482&stc=1&thumb=1&d=1369689939

The above picture shows the two current scenarios I could anticipate:

Scenario 1. Price could continue lower into the 83 area of support and then violently bounce higher into the 84.70 area of 1st target of the 81.40 long entry area. Then price could fail the next traditional measured move higher and start a series of lower lows and lower highs.

Scenario 2. After trading the 83 area, price could continues above the previous 84.70 profit level into the 85.30 area, 1st target of the 83 area long setup. If that happens profit taking could be seen at those levels (and we would deal with that at the proper time).

On my blog you can find the video explaining the scenarios I have just provided above: http://elitefive.wordpress.com/2013/...lish-language/

Let me know what you think.
Cheers

-fibstalker
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