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Cable Update (GBPUSD)

  • #343,461
  • Jul 2, 2013 9:37pm Jul 2, 2013 9:37pm
  • #343,462
  • Jul 2, 2013 9:40pm Jul 2, 2013 9:40pm
Listen only TO hatch
hE'S THe GOD duh
that makes things real

You'll find him in the E/U thread


duh
When the Joker is in the deck.. fear not and play it well
  • #343,463
  • Jul 2, 2013 11:08pm Jul 2, 2013 11:08pm
Quoting Slim Buffett
Listen only TO hatch hE'S THe GOD duh that makes things real You'll find him in the E/U thread duh
STOP SINNING
  • #343,464
  • Jul 3, 2013 12:56am Jul 3, 2013 12:56am
whats made the gbp/usd go up?
  • #343,465
  • Jul 3, 2013 2:03am Jul 3, 2013 2:03am
Quoting Ejt11
whats made the gbp/usd go up?

Because it's oversold!!!
Impossible = 0
  • #343,466
  • Jul 3, 2013 2:08am Jul 3, 2013 2:08am
Quoting Ejt11
whats made the gbp/usd go up?
Sellers.
  • #343,467
  • Jul 3, 2013 2:12am Jul 3, 2013 2:12am
Pull up a 4 HOUR chart its hit a rising trend line(28th May and 12th March) and confirmation was strongly oversold stochastic so was actually a pretty good trade.
  • #343,468
  • Jul 3, 2013 2:17am Jul 3, 2013 2:17am
Quoting iqyu5an
deal... *** pokoke setuju... {quote}
Quoting Red Alert
{quote} the man of steel, still hold the trading plan what ever the situation ..... Maju terus Bro!!!!.......

Quoting Makavell
{quote} yeah, he got balls of steel! i hope his broker account is made of steel too. opps let me guess IRONFX
Make it simple, but not simpler - Einstein
  • #343,469
  • Jul 3, 2013 2:23am Jul 3, 2013 2:23am
I think 1.513 is the bottom, 600 pips from the top, my average monthly strike and daily MA(100) to retest. From there it should go up around 400 pips to 1.55-1.56. But then I have to look for signals, which indicates whether it will go straight to 1.59-1.60 or make another test at 1.50 level first (another 600 pips down) and make double bottom there before going up (1000 pips).
Make it simple, but not simpler - Einstein
  • #343,470
  • Jul 3, 2013 2:26am Jul 3, 2013 2:26am
Quoting Ri Dwe
{quote} {quote} {quote}
wkwkwk arep endi gbp ( where is gbp moving ? up or down ?
  • #343,471
  • Jul 3, 2013 2:40am Jul 3, 2013 2:40am
Strong upside reaction to Uk data at 0928 (of these pmi surveys it is manufacturing and services that come out at 0928 London [sponsered by some one - I think it is Reuters) and 0930 sees construction pmi.)...Incidentally yesterday's constcruction pmi release saw a downside reaction not that the number was bad - it came in pretty much on forecast - it just that it dissapointed after Monday's manufacturing pmi wich was strong and saw like today's pmi services release -a strong upside reaction on a strong better than expected/forecast number.

5128 the current daily lo - a false minor break below yesterday's low that found support at the base of that previous daily swing hi zone (potential rbs)

G/L
Attached Image (click to enlarge)
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ex member
  • #343,472
  • Jul 3, 2013 2:42am Jul 3, 2013 2:42am
I think that's a valid bullish set up
Attached Image (click to enlarge)
Click to Enlarge Name: 4-gbp usd d1 3-7-13.png Size: 56 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #343,473
  • Jul 3, 2013 2:47am Jul 3, 2013 2:47am
how did u determine it to be oversold? i checked my rsi indicator and it was on the line of 30 but not below it. i know the news made it rise further but after looking at my weekly chart this morning i thought it would have come down and touched 1.51228 S line but it didnt. i put my trade in at 8.15 which was well before news so dont understand how it went the other way? can someone clear this up for me so i do not make the same mistake again please.
  • #343,474
  • Jul 3, 2013 5:12am Jul 3, 2013 5:12am
Quoting Ejt11
how did u determine it to be oversold? i checked my rsi indicator and it was on the line of 30 but not below it. i know the news made it rise further but after looking at my weekly chart this morning i thought it would have come down and touched 1.51228 S line but it didnt. i put my trade in at 8.15 which was well before news so dont understand how it went the other way? can someone clear this up for me so i do not make the same mistake again please.
At this stage I think it is just an overdue correction unless we break north of the descending 4hr TL.
We still have lots of high impact news left this week, so could be very volatile.
Come with me if you want to live....
  • #343,475
  • Jul 3, 2013 5:36am Jul 3, 2013 5:36am
Looks like trying to retest daily resistance and 50 fib at 5290 area
Come with me if you want to live....
  • #343,476
  • Jul 3, 2013 7:03am Jul 3, 2013 7:03am
Quoting Ill-b-back
Looks like trying to retest daily resistance and 50 fib at 5290 area
agree and than short 5290
  • #343,477
  • Jul 3, 2013 7:06am Jul 3, 2013 7:06am
Quoting khol_hands
{quote} agree and than short 5290
Based on what? the fib50 confluence with daily resistance? pls clearify yourself further in case you're calling a short or long at certain lvl
  • #343,478
  • Jul 3, 2013 9:50am Jul 3, 2013 9:50am
Quoting Robertk
{quote} Based on what? the fib50 confluence with daily resistance? pls clearify yourself further in case you're calling a short or long at certain lvl
based on simple indicator MA daily chart and in my account green but now Im out enough today
Iam long 5266 tp 5293
short 5295 tp 52 45 but on the way I cut it at level 5275.good luck for you
  • #343,479
  • Jul 3, 2013 11:23am Jul 3, 2013 11:23am
If this Mr.Cable don't reverse from here and hit 1.5030 I 'll be heavily surprised .This morning's jump was nothing but a pullback to reload shorts.If it remains over 1.5350 it is an other story but I don't think that they will mark this up before some more heavy stealing, it would be a big surprise if this moves north from here !
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  • #343,480
  • Jul 3, 2013 1:14pm Jul 3, 2013 1:14pm
A likely master bullish engulfing will close today on the daily t/f...and will, barring any strong selling in what remains of today, bullishly engulf Monday's, Tuesday's and possibly last Friday's candles on this t/f. Price has decisively breeched the steepest 4hr descending t/line to the upside and on this 4hr t/f price has made a H above the last 3 x LH's on that t/f.

Current hi today is at the 50% 5477-5128 in that previous 4hr minor swing lo zone (potential sbr) at the 200sma on 1hr.

Main upside obstacles are shown by the 4hr screenshot below and the fibs plotted down to 5128 from the circled areas correspond with fractal swing hi's on the daily t/f too so are perhaps more significant ? As for calculated pivots - 5375 sees the Monthly pivot @/around, and 5403 is Weekly R1 @/around and other than daily pivots these are the nearest to the upside.

Bulls taking control or a pullback in the downtrend ?

G/L
Attached Image (click to enlarge)
Click to Enlarge Name: 4hr.jpg Size: 216 KB
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