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Cable Update (GBPUSD)

  • #342,501
  • Jun 9, 2013 3:49am Jun 9, 2013 3:49am
bro, this is my view
Attached Image (click to enlarge)
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  • #342,502
  • Jun 9, 2013 6:24am Jun 9, 2013 6:24am
BULL force continues to take place last week and breaking up near 1.5680 before heading back to 1.5550. With this, we confirmed that bull force are stronger than before (also than expected). However, we may want to take note that the fact that 1.5600 was a strong and good resistance level. Any break-out from there we will be expecting more bullish movement towards 1.5830 level. Although we maintained a bull trend now, in the short run, we want to monitor this pair to see if there's any possibility of history repeating itself (Look at h1 charting). My take is to long this pair @ an acceptable price range, also if it managed to break out from 1.5600 level

As attached is the analysis, free to comment on it at http://alternateforexiew.wordpress.c...t-good-enough/
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File Type: pdf GBPUSD 9JUNE.pdf   340 KB | 423 downloads
Knowledge is powerful tool that we can ever have.
  • #342,503
  • Jun 9, 2013 3:17pm Jun 9, 2013 3:17pm
Quoting Ill-b-back
{quote} Similar view about 54. Since we failed to close the week above the retested yellow TL, we could actually go straight down to 1.5380 - 1.54 support area to retest the broken TL below. From here we could go higher to approach the retest of the major broken weekly TL in red. My overall tone for the time being is bullish simply because of momentum, but will follow PA at said levels. {image} {image} {image}
Hard to ignore that gap.

Hello...
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Come with me if you want to live....
  • #342,504
  • Jun 9, 2013 3:19pm Jun 9, 2013 3:19pm
So you tell me the gap means price will go up, no... Maybe to close gap then it fall like the snow...
I making the big monies, so far +10 pips. Follow me if you nice guy...
  • #342,505
  • Jun 9, 2013 4:53pm Jun 9, 2013 4:53pm
Sharp selling in US bond funds hints at high volatility to stay.
  • #342,506
  • Jun 9, 2013 6:54pm Jun 9, 2013 6:54pm
Quoting Ill-b-back
{quote} Similar view about 54. Since we failed to close the week above the retested yellow TL, we could actually go straight down to 1.5380 - 1.54 support area to retest the broken TL below. From here we could go higher to approach the retest of the major broken weekly TL in red. My overall tone for the time being is bullish simply because of momentum, but will follow PA at said levels. {image} {image} {image}
Yes, I don't rule out the possibility that this pair will go directly to 1.54. But as long as the weekly pivot (1.547) holds, I think it will go to 1.576 first. It is R1 weekly if you use Floor Pivot or R2 for Fibo Pivot. And in my opinion R3 weekly is something special, a level that won't give up easily. If broken and holds on retest it will continue to subsequent R1 (this week's R1).

Another thing to consider is that 1.538 is 50% of 1.50-1.576. It will fit quite nicely as rebound level, as there are previous monthly pivot, previous weekly R2 and EMA(100) daily around. In other words, if the bulls want to make this level as a very strong support, they have to drive the rate to 1.576 before pullback. For me then it will be a sign of determination.
Make it simple, but not simpler - Einstein
  • #342,507
  • Jun 9, 2013 7:00pm Jun 9, 2013 7:00pm
Quoting fxtomy
bro, this is my view {image}
Nice chart I use similar dataset: 96, 100, 110, 120 .. changing from time to time to fit PA, which is in my opinion not static.

I think, it will go a bit higher and retest the middle line of BB (which is the same as SMA and slightly differs from EMA) around 1.539. Thereafter it will continue to the uppperband of BB and try to break it. Won't succeed at the first attempt, hence will go down back to middle line of BB or even to the lowerband .. we'll see. Bouncing back up to try another breakout of upperband. And most probably will succeed there. Target? 1.62, 1.64, 1.67? Who knows?
Make it simple, but not simpler - Einstein
  • #342,508
  • Jun 9, 2013 8:44pm Jun 9, 2013 8:44pm
Morning , just watching market open play & first day ranging , both firsthand plays to decide for more in the next ranges to decide if possible today or next days .

5465-5587, a very narrow though for next 5684-5434/5382 decide.
fontu
Attached Image (click to enlarge)
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #342,509
  • Jun 9, 2013 10:54pm Jun 9, 2013 10:54pm
long GU ?
if there is something you should keep secret,simply just save it,, so, just
  • #342,510
  • Jun 9, 2013 11:24pm Jun 9, 2013 11:24pm
Quoting sandycarrot
long GU ?
Yes, and protect SL @ 15475 (as Fontu chart stated)
  • #342,511
  • Jun 10, 2013 1:25am Jun 10, 2013 1:25am
short 551 sl 651 tp 5430
  • #342,512
  • Jun 10, 2013 2:04am Jun 10, 2013 2:04am
Is there a recommended place to start with learning about options with currencies that you would recommend? Interested in the idea.
  • #342,513
  • Jun 10, 2013 4:07am Jun 10, 2013 4:07am
Gold smaller tf views & so also other related pairs more or less , break or not ( apparently so in lower tf ) 1373 to bounce for next leg up , done/ breaks to follow towards 1347/previous low , not? then may carry out crazy more correction towards previous top to 1400 + to even full swing towards even 1554 , just not think as yet though . so down are the favor still . great failure may hiding somewhere in euro zone or rest of the world Now or at the height of next leg up of all of them ( PB ) rather take in The US for the next greatest recession again !

Thanks
fontu
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #342,514
  • Jun 10, 2013 4:26am Jun 10, 2013 4:26am
Hey all, Hows it going? Brand new to forexfactory and novice at forex trading. Just recently opened a trade on gbp/usd @ 15541.5 long (near quarter price not spot). My reasoning is pretty basic, looking at the daily chart macd is showing as still currently in an uptrend (realising we are approx at a resistance line from about may timeish, however still taking it as we are in a positive trend).

Then looking at the 1hour charts williams % showing as being in oversold territory when i opened my trade. So my thinking behind this is trying to get in a trade following the overall daily trend at a bit of a pullback.

Now I am just looking to follow this and watch the news to try and chase 150 -200 points.

Just wanted to know what you guys and girls thought about my thinking/rational? Is it to basic, missing something obvious? I dont mind critical or positives, just interested to see what you think.

Many thanks...p.s. this is posted at 21:25 10/06/13 aussie time, as i think because i am new the moderaters many take some time to approve my post.
Safety First
  • #342,515
  • Jun 10, 2013 6:25am Jun 10, 2013 6:25am
Bit of profit taking since the weekend
  • #342,516
  • Jun 10, 2013 7:59am Jun 10, 2013 7:59am
Ho Hum.... ....
Ghost Rider - WWTBMD?
  • #342,517
  • Jun 10, 2013 8:23am Jun 10, 2013 8:23am
we have lift off
All posts are my personal opinion
  • #342,518
  • Jun 10, 2013 9:02am Jun 10, 2013 9:02am
Quoting albchr
Ho Hum.... ....
im getting really fedup of the pound dAMNIT..when i sell the mofo rises..buy and mofo sinks..

f$%%k

i like tonys scernero of 50 % retrace but the mofo is looking like it wants to falls and US talk on QE is ballsing the whole thing
  • #342,519
  • Jun 10, 2013 10:11am Jun 10, 2013 10:11am
Quoting nAVIN2007
{quote} im getting really fedup of the pound dAMNIT..when i sell the mofo rises..buy and mofo sinks.. f$%%k i like tonys scernero of 50 % retrace but the mofo is looking like it wants to falls and US talk on QE is ballsing the whole thing
I am waiting for 5780 area to short with vengeance.
Classic Gartley AB=CD
While price could nose dive before reaching 61.8fib but nevertheless it already past key threshold of 38.2 at 5420 which means most probable target is 61.8 fib at 5787 zone.
Confluence of 200MA supports the shorting there as well (yellow dotted line)
Attached Image (click to enlarge)
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In trading, you have to be defensive and aggressive at the same time
  • #342,520
  • Jun 10, 2013 10:27am Jun 10, 2013 10:27am
Quoting Davit
{quote} I am waiting for 5780 area to short with vengeance. Classic Gartley AB=CD While price could nose dive before reaching 61.8fib but nevertheless it already past key threshold of 38.2 at 5420 which means most probable target is 61.8 fib at 5787 zone. Confluence of 200MA supports the shorting there as well (yellow dotted line) {image}

Makes sense lets see right now i hedged..which i hate
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