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Cable Update (GBPUSD)

  • #341,921
  • May 30, 2013 3:20am May 30, 2013 3:20am
1hr continues in it's overall price action (opa) uptrend. 4hr has seen an upside break of it's recent range consolidation in a W pattern...daily has seen a break above the last LH of it's opa downtrend now. Price still trades below the 100 and 200 sma's on 4hr and daily and the 100 on both is crossed below the 200.

current pullback lo off current daily hi at 5184 met demand at 23.6% 5606-5184

Short squeeze or more?

G/L
ex member
  • #341,922
  • May 30, 2013 3:47am May 30, 2013 3:47am
if we pull back, I have 5066/77 marked as good support..
  • #341,923
  • May 30, 2013 3:57am May 30, 2013 3:57am
As everyone aware, Unemployment Claims is going to release at 8.30am, just would like to have an opinion from everyone here, how it going to affect GBP/USD since the trend now is going upwards.
  • #341,924
  • May 30, 2013 4:27am May 30, 2013 4:27am
Quoting Ri Dwe
I won't be surprised if we see 1.53 today, Daily R3
today??
u have minus floating on that level?
  • #341,925
  • May 30, 2013 5:08am May 30, 2013 5:08am
Quoting Grandhis
{quote} today??u have minus floating on that level?
ow, now already 200 pips floating, Why you don't simply close the position and trying to find better entry?.....
  • #341,926
  • May 30, 2013 5:11am May 30, 2013 5:11am
Like all data it's difference from the previous month/week's and from the forecast/revisions to previous etc can affect market reaction and the specific data you quote is weekly data so tends to have less effect the aforegoing notwithstanding than say other monthly data like the GDP prelim which is released at same time today. No one knows what will happen in advance of the data but specific to this data - a good number tends to be $ beneficial and vice versa although as I say - it is weekly released data so not generally as 'market moving' as other monthly releases can be. Anything (or nothing) can happen-so be prepared.

Quoting liewyk
As everyone aware, Unemployment Claims is going to release at 8.30am, just would like to have an opinion from everyone here, how it going to affect GBP/USD since the trend now is going upwards.
---------------------------------------------------------------------------

Price breaks up to the 50% 5384-5006 and aforementioned offers into 5200 kick in....current daily hi 5197.
ex member
  • #341,927
  • May 30, 2013 5:24am May 30, 2013 5:24am
Quoting bbmac
1hr continues in it's overall price action (opa) uptrend. 4hr has seen an upside break of it's recent range consolidation in a W pattern...daily has seen a break above the last LH of it's opa downtrend now. Price still trades below the 100 and 200 sma's on 4hr and daily and the 100 on both is crossed below the 200. current pullback lo off current daily hi at 5184 met demand at 23.6% 5606-5184 Short squeeze or more? G/L
Hey Brother, I'm thinking short squeeze myself. I see 5218/70ish as a high for this pullback if it gets there at all. Thinking of parking a few shorts in that area as I can't watch the charts too much longer today. $ is in correction mode as of now so it could be interesting from here.

Hope you are well buddy.
Ghost Rider - WWTBMD?
  • #341,928
  • May 30, 2013 5:29am May 30, 2013 5:29am
prepare for SL breakers who drops price 100 up down in 5 seconds.
no matter u bull or bear. they dont want u to get green pips.
  • #341,929
  • May 30, 2013 5:31am May 30, 2013 5:31am
generally speaking dollar is f...ed by now. EU and GU got reversal of trends yesterday.
if that will continue GU 5300 today, EU 3100
  • #341,930
  • May 30, 2013 5:39am May 30, 2013 5:39am
Looks like it's setting up for big drop.

Short: 1.5147; target 1.4250, stop 1.5385
  • #341,931
  • May 30, 2013 5:40am May 30, 2013 5:40am
Quoting akhtergroup
Looks like it's setting up for big drop. Short: 1.5147; target 1.4250, stop 1.5385
looks like base on what? technically sell only if it will hit todays low.
  • #341,932
  • May 30, 2013 5:42am May 30, 2013 5:42am
Quoting Trader88q
{quote} looks like base on what? technically sell only if it will hit todays low.

Based on more sellers than buyers in the grander scheme of things
  • #341,933
  • May 30, 2013 5:43am May 30, 2013 5:43am
Quoting Makavell
the nex push down will take out 1.5000 and i dont see cable going above 1.5200 presently, if it even gets to 1.5190 itll be overreaching itself

GU obviously overreached itself here
  • #341,934
  • May 30, 2013 5:47am May 30, 2013 5:47am
Quoting baherhosni
{quote} yes.. thanks.. to me, until now and from the psychological view, the big bears are not interested in a fight within a monthly demand area. It is like not wanting to sell low! therefore bulls are feeling less resistance. I thinks its going to be a totally different story above that area which has an upper bound at 5230 on my monthly chart. Also, the strength that the bulls are showing at the moment, should start to shy away the more we bet closer to that upper bound level as risk increases to the bulls. but thats me.. cheers..
Good thinking like real soldier ! yes bull/correction only for little or some only perhaps , got control breaking 5157, is simply an initial stage but must try for real 5322 breaks and can be sure it will if any power left & show last 9 days in the consolidation . but it reach /break bear power any time for the bear continuation unless 5606 broken for 6000.. hope not that action yet after 5322 , some space can left for top formation to around 5411 , very tough all level reach , even 5322. so targets still go lows . and adding bull certainly increase risks if not sit infront of computer for all time & scalping .

eu still in control bear , limit not broken .but successfully may be averted sell off .
Gold also to the minimum like eu .

Wrote before gbp may be relatively stronger then eu & so gold in near future .
take care
fontu
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #341,935
  • May 30, 2013 6:08am May 30, 2013 6:08am
Quoting bbmac
Like all data it's difference from the previous month/week's and from the forecast/revisions to previous etc can affect market reaction and the specific data you quote is weekly data so tends to have less effect the aforegoing notwithstanding than say other monthly data like the GDP prelim which is released at same time today. No one knows what will happen in advance of the data but specific to this data
- a good number tends to be $ beneficial and vice versa although as I say - it is weekly released data so not generally as 'market moving'...
a good number? if GDP will be even 3.5% of forecasted 2.5% this is not a good number. but usually i dont care fundamentals. its doesnt work.
  • #341,936
  • May 30, 2013 6:51am May 30, 2013 6:51am
Quoting Trader88q
{quote} looks like base on what? technically sell only if it will hit todays low.

Why sell at the low? Better to have entered a short earlier at 5150 or 5190.
  • #341,937
  • May 30, 2013 7:00am May 30, 2013 7:00am
failed attempt to break the 200 sma on hourly. 200 ema already broken south..
lets see what the coming hours has in store for us..

Cheers
I still need a trading break soon!!! "Loose some to win more" --Baher A.
  • #341,938
  • May 30, 2013 7:09am May 30, 2013 7:09am
Quoting iqyu5an
aussie open broken... yesterday..US session open at 510x and daily pivot at 509x .. let see what's going on there ... {quote}
aizzzz lama gk chat nih mana YM nya kang
If there was easy money lying around,no one would be forcing it into your
  • #341,939
  • May 30, 2013 7:38am May 30, 2013 7:38am
U.S still in recession. GDP fail.
  • #341,940
  • May 30, 2013 8:11am May 30, 2013 8:11am
Quoting Trader88q
U.S still in recession. GDP fail.
Yeah,

surprise, surprise.....

Come with me if you want to live....
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