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Cable Update (GBPUSD)

  • #343,541
  • Jul 4, 2013 10:50am Jul 4, 2013 10:50am
Quoting albchr
{quote} lol...yeah. I was going to remain short biased until 4900/4800 but, after his last weeks "predictions" and now seeing this 4650 "prediction", It may just be time to buy soon. Hmmm..... ....

LOl
Price is touching key median line.Either rebounds up from 1.50 or breaks down.
Attached Image (click to enlarge)
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In trading, you have to be defensive and aggressive at the same time
  • #343,542
  • Jul 4, 2013 10:55am Jul 4, 2013 10:55am
Quoting Trader88q
{quote} GU 4650 EU 2550 we can see these numbers in two weeks.
you are right
  • #343,543
  • Jul 4, 2013 10:57am Jul 4, 2013 10:57am
MINI MINI MYNI MO, which friggin way would this cable go
  • #343,544
  • Jul 4, 2013 10:57am Jul 4, 2013 10:57am
Quoting Davit
{quote} LOl Price is touching key median line.Either rebounds up from 1.50 or breaks down. {image}
Agreed. Won't surprise me to see a bit of pullback after that fall and a chance for more shorts. This weeks close will tell much. I remain short biased until proven wrong by a solid turn around.
Ghost Rider - WWTBMD?
  • #343,545
  • Jul 4, 2013 11:03am Jul 4, 2013 11:03am
Quoting Davit
{quote} stronger opinion one has harder it is to get out losing trade. I suggest to ignore 90% poster's comments here if they predict the future. Its a probability game.That's all
Quoting okanemici
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 ! {image}


You are mostly right Davit but it depends on the set up we have.If one has a right set up and master it he can predict the future with high percentage.
But if someone just has a thin trendline as a setup and make a wish looking at that trendline we mostly could see that the market would stick that line to ones arse )
For instance I was going to be surprised if it didn't drop from 1.5270 and was waiting a bad news for the gbp
  • #343,546
  • Jul 4, 2013 11:06am Jul 4, 2013 11:06am
Quoting albchr
{quote} Agreed. Won't surprise me to see a bit of pullback after that fall and a chance for more shorts. This weeks close will tell much. I remain short biased until proven wrong by a solid turn around.

Short biased is correct fundamentally because of Feds easing off QE however to me England's economy plays crucial factor as well.In essence we can have 2 strong currencies and be above 1.50
US economy numbers seems improving however it is far from "recovery"
Feds pumped 2 trillion dollars into economy which caused wall street stock appreciation however I see it as a bubble "recovery"
Its obvious Feds can't continue print 85b every month unobstructed.It will come to an end however I am not sure if US economy will recover anytime soon like next 5yrs.
There is lot of political spin.
In trading, you have to be defensive and aggressive at the same time
  • #343,547
  • Jul 4, 2013 11:14am Jul 4, 2013 11:14am
Quoting albchr
{quote} Agreed. Won't surprise me to see a bit of pullback after that fall and a chance for more shorts. This weeks close will tell much. I remain short biased until proven wrong by a solid turn around.

My guess is it would go to around 1.5110 and fall from there like a coffee cup till 1.5030, than more lower to come
  • #343,548
  • Jul 4, 2013 11:15am Jul 4, 2013 11:15am
Quoting okanemici
{quote} {quote} You are mostly right Davit but it depends on the set up we have.If one has a right set up and master it he can predict the future with high percentage. But if someone just has a thin trendline as a setup and make a wish looking at that trendline we mostly could see that the market would stick that line to ones arse ) For instance I was going to be surprised if it didn't drop from 1.5270 and was waiting a bad news for the gbp

don't over think.Mistake lot of us make we tend to over analyze until becoming paralyzed unable to make clear decision.
Price rebounded from this zone previously very strongly and it could happen easily another 400pips up from 1.50.
Attached Image (click to enlarge)
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In trading, you have to be defensive and aggressive at the same time
  • #343,549
  • Jul 4, 2013 11:19am Jul 4, 2013 11:19am
Quoting Davit
{quote} Short biased is correct fundamentally because of Feds easing off QE however to me England's economy plays crucial factor as well.In essence we can have 2 strong currencies and be above 1.50 US economy numbers seems improving however it is far from "recovery" Feds pumped 2 trillion dollars into economy which caused wall street stock appreciation however I see it as a bubble "recovery" Its obvious Feds can't continue print 85b every month unobstructed.It will come to an end however I am not sure if US economy will recover anytime soon...
FED tapering is just talk as of now. They tested the waters over the past few months by spreading all the rumors of tapper and clearly saw what happened when the now addicted to easy money wall street junkies feared the end of their fix. No doubt they simply have to stop inflating the bubble but they now have a "feel" for how
they must go about it and that would be Slooooowwwly......lol

Far from a recovery here is putting it mildly brother. Things are getting worse and will continue to for some time unless the powers that be do a 180 in policy. That's not likely any time soon if at all.

It is ALL political spin and we now trade in a "word" driven market. Not a "market" driven market. Of course, as you know, we've been in that boat for some time now.
Ghost Rider - WWTBMD?
  • #343,550
  • Jul 4, 2013 11:37am Jul 4, 2013 11:37am
yea I agree

Quoting Davit
{quote} don't over think.Mistake lot of us make we tend to over analyze until becoming paralyzed unable to make clear decision. Price rebounded from this zone previously very strongly and it could happen easily another 400pips up from 1.50. {image}
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #343,551
  • Jul 4, 2013 11:40am Jul 4, 2013 11:40am
Hi

not a lot to go on there ,do you have a reason ,chart ?

Quoting davidsayli
We can see these numbers two weeks later. GBP/USD : 1.5750 EUR/USD : 1.3715 GL
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #343,552
  • Jul 4, 2013 11:41am Jul 4, 2013 11:41am
This week has been a bit of a rollercoaster.

first that big up day and then that huge drop today, market does what it wants when it wants.

Trend is still down, some support round 500.
  • #343,553
  • Jul 4, 2013 11:51am Jul 4, 2013 11:51am
Quoting Bones
Hi not a lot to go on there ,do you have a reason ,chart ? {quote}
GBP/USD Daily Chart

http://i43.tinypic.com/2lcwg1u.png

FIRST TARGET : 1.5605
SECOND TARGET : 1.5750
THIRD TARGET : 1.6415

GL
  • #343,554
  • Jul 4, 2013 11:53am Jul 4, 2013 11:53am
hey sorry mate noticed you did lol my bad
maybe this is a bearish candle certainly I recognise that ,but we broke north first this market is sideways to bearish to me

Quoting davidsayli
{quote} GBP/USD Daily Chart {image} FIRST TARGET : 1.5605 SECOND TARGET : 1.5750 THIRD TARGET : 1.6415 GL
Attached Image (click to enlarge)
Click to Enlarge Name: 9 gbp usd d1 4-7-13.png Size: 58 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #343,555
  • Jul 4, 2013 12:02pm Jul 4, 2013 12:02pm
Taken a possition long @ 1.5060 tp=1.54000 sl=1.4975 just under the weekly S2 pivot
  • #343,556
  • Jul 4, 2013 12:26pm Jul 4, 2013 12:26pm
Nothing at this point in times says anything to price on its way up.

Price is in a clear downtrend right now, and that's all we know.
  • #343,557
  • Jul 4, 2013 1:16pm Jul 4, 2013 1:16pm
Quoting fontu
Gold hints : Gold over 1155( 80 ) & not yet break the minimum level for down 1269 with weekly/monthly try ups & hence still for more down towards 1032/62. lets see if 1269 can hold today. others also carry out . fontu {image} {image} {image}
Hi Fontu, what ma do you have on charts buddy ? 13-100 sma ?
  • #343,558
  • Jul 4, 2013 4:22pm Jul 4, 2013 4:22pm
Below 1.5060 we find the following target

TP 1 = 1.5035-1.5014

TP 2 = 1.4954

TP 3 = 1.4832

Above 1.5083 we can expect scaled up

1.5155/1.5178/1.5196/1.5220

1.5260

More?

1.5365-1.5410

higher up???

1.5605 - 1.5627

a little more?

1.5674-1.5749

more? i don`t think so but the market rules, not me ...

1.5825-1.5880

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  • #343,559
  • Jul 4, 2013 4:24pm Jul 4, 2013 4:24pm
Hey Peoples !!! Being very busy lately with my day Job ..

Inserted Video


About to close my sell orders and put in some buy orders, I see a Retrace coming ..
Not too sure if we are gonna retrace the whole bearish Candle though ..


Good Times ...
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  • #343,560
  • Jul 4, 2013 5:38pm Jul 4, 2013 5:38pm
I know she looks as bearish as all hell, but keep your minds and options open.
Could also be building levels on the retest.
This week and next could be rather important indicators:nerd:
lol...
Attached Image(s) (click to enlarge)
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