Attachments: Cable Update (GBPUSD)

Cable Update (GBPUSD)

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#344,501
Jul 31, 2013 7:18am Jul 31, 2013 7:18am

eitan1010
| Membership Revoked | Joined Jun 2011 | 4,778 Posts

bye bye for now cable..

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when GOD brings you a challenge he also gives you the power to deal with it

#344,502
Jul 31, 2013 7:19am Jul 31, 2013 7:19am

MyOpinion
| Joined Aug 2012 | Status: Trader | 415 Posts

1.5155 should provide support ... at least temporarily

Loser trying to become a winner!

#344,503
Jul 31, 2013 7:36am Jul 31, 2013 7:36am

MyOpinion
| Joined Aug 2012 | Status: Trader | 415 Posts

1.5155 now resistance ... next support at 1.5110

Loser trying to become a winner!

#344,504
Edited 9:27am Jul 31, 2013 8:59am | Edited 9:27am

bbmac
Joined Jul 2007 | Status: Trader | 5,392 Posts

Further legs down to a current daily lo of 5124...4 fib cluster @/around that lo, ie existing at 5135-5129-22, @ 22 the 50% of the 4811-5434 with 76.4% 5026-5434 ......below here as 4hr chart below...not shown are the next calculated pivots to the downside which are 5103 = Weekly S3 @/around , then 5059 = Daily S3 @/around. Monthly S1 is @/around 4999 but that will change tomorrow.

Feels like more maybe but price still only covered 89% of 20 day atr so far today, 103% of 20 week atr so far this week and 122% of 20 month atr so far this month on it's last day.

G/L

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ex member

#344,505
Jul 31, 2013 9:30am Jul 31, 2013 9:30am

Alex2222
| Commercial User | Joined Nov 2012 | 259 Posts

gbp usd

butterfly

rd-

http://pcm-fx.com/englishforum/forum.../10-Currencies

http://pcmbrokers.org/pcmfileupload/...5280875921.gif

#344,506
Jul 31, 2013 11:11am Jul 31, 2013 11:11am

bbmac
Joined Jul 2007 | Status: Trader | 5,392 Posts

Daily shows that 50% fib 4811-5434 better...ie @ today's current lo.

G/L

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ex member

#344,507
Jul 31, 2013 1:50pm Jul 31, 2013 1:50pm

bbmac
Joined Jul 2007 | Status: Trader | 5,392 Posts

You gotta love the volatility round the fomc announce (who mentioned' tapering ? ') ... it can provide opportunity and strong moves.

To the immediate upside per 1hr chart below

G/L

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ex member

#344,508
Jul 31, 2013 2:32pm Jul 31, 2013 2:32pm

Bones
Joined Nov 2007 | Status: left CanaryWharf desk-tea break | 24,286 Posts

usdx monthly ,cable hammer d1

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On-site guru & also FF member's' psychiatrist, when not drinking tea

#344,509
Jul 31, 2013 3:07pm Jul 31, 2013 3:07pm

ChiLL 14
| Joined Apr 2013 | Status: Trader | 32 Posts

Quoting Bones

Disliked

usdx monthly ,cable hammer d1

Ignored

Yeah, Im interested in that hammer (or a pin bar)... It's also located at 50% fibo retrace of the swing... but I don't like that rapid falling that has occured.
What do you or others think?

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Only those who dare to fail greatly can ever achieve greatly. - R. Kennedy

#344,510
Jul 31, 2013 5:39pm Jul 31, 2013 5:39pm

okanemici
Joined Jan 2012 | Status: Trader | 1,005 Posts

My lines seems to work perfectly . This time gbpusd has a probable long way to go 1.44 if stays below 1.5192 !!!

Quoting okanemici

Disliked

Cable targeting 1.5550 after a 100 pip pullback tomorrow.Then probably back to 1.50 . {image}

Ignored

Quoting Ill-b-back

Disliked

{quote} Well he has a chart there nAV, not saying it necessarily correct but I see his lines

Ignored

Quoting okanemici

Disliked

{quote} {quote} I get what you mean but those lines worked well before buddy.They are not wish lines

Ignored

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#344,511
Jul 31, 2013 10:57pm Jul 31, 2013 10:57pm

Ill-b-back
Joined May 2011 | Status: Get to the Chopper | 17,905 Posts

Quoting ChiLL 14

Disliked

{quote} Yeah, Im interested in that hammer (or a pin bar)... It's also located at 50% fibo retrace of the swing... but I don't like that rapid falling that has occured. What do you or others think? {image}

Ignored

Looks to me more down 5050-30 region perhaps.
Waiting until next week to see if worthwhile buying from there.

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

#344,512
Aug 1, 2013 1:50am Aug 1, 2013 1:50am

Bones
Joined Nov 2007 | Status: left CanaryWharf desk-tea break | 24,286 Posts

well I guess we need to see I it holds up ,I don't think monthly shows break of range to north ,break and close south of this hammer prob take us back to support I guess
course weekly shows bearish so this daily not in line ,
eu also need something to drive through if that's what's goanna happen tough res

Quoting ChiLL 14

Disliked

{quote} Yeah, Im interested in that hammer (or a pin bar)... It's also located at 50% fibo retrace of the swing... but I don't like that rapid falling that has occured. What do you or others think? {image}

Ignored

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On-site guru & also FF member's' psychiatrist, when not drinking tea

#344,513
Edited 2:09am Aug 1, 2013 1:58am | Edited 2:09am

bbmac
Joined Jul 2007 | Status: Trader | 5,392 Posts

G/M,

So, straight back down following the eventual upside FOMC react yesterday - 5253 the post data hi and yesterday's hi...

4 fib cluster 5135-21 incl that 50% 4811-5434...price testing yesterday's lo zone right now...Daily S1 in there too @/around 5134

All this and Uk PMI manuf then Boe rate/Qe and statement to come.

G/L

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ex member

#344,514
Aug 1, 2013 2:17am Aug 1, 2013 2:17am

bbmac
Joined Jul 2007 | Status: Trader | 5,392 Posts

.....quite a lot of known event risks due today/tomorrow what with Uk stuff mentioned above, ECB announce, U.s NFP etc...I think today's Uk Manuf PMI comes out at 0928 to subscribers - like the services PMI but tomorrow's construction PMI at 0930 as usual - it is not sponsored (as far as I remember).....uk stuff today could cause some movement...'with volatility comes opportunity.' Uk Services PMI (the big one of the 3) must be due Monday ?

It's 30 degrees in Uk today later on...the sun is shining and Rick Astley is playing on the radio - what more do you need other than price finding support (for howsoever long) at a level you had pre-identified as ' potential support ?'

G/L

ex member

#344,515
Edited 3:49am Aug 1, 2013 3:12am | Edited 3:49am

irongoose
| Joined May 2013 | Status: Trader | 1,210 Posts

........................

#344,516
Aug 1, 2013 3:18am Aug 1, 2013 3:18am

bbmac
Joined Jul 2007 | Status: Trader | 5,392 Posts

...that's actually the 61.8% of 4811-5434 - you have your fibs plotted upside down....you need to drag it from 4811 to 5434 not the other way round.

G/L

Quoting irongoose

Disliked

{image}

Ignored

ex member

#344,517
Aug 1, 2013 3:50am Aug 1, 2013 3:50am

irongoose
| Joined May 2013 | Status: Trader | 1,210 Posts

Quoting bbmac

Disliked

...that's actually the 61.8% of 4811-5434 - you have your fibs plotted upside down....you need to drag it from 4811 to 5434 not the other way round. G/L {quote}

Ignored

Thank you.

#344,518
Aug 1, 2013 3:55am Aug 1, 2013 3:55am

bbmac
Joined Jul 2007 | Status: Trader | 5,392 Posts

strong knee-jerk react on better than forecast data....classic sell the 1st hi (@ 61.8% 5253-5133/underside of prev 1hr asc t/line) and buy the 1st pullback data play resulted.)...how strong is this upside reaction now ? Carney etc to come.

G/L

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