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Cable Update (GBPUSD)

  • #345,441
  • Aug 19, 2013 2:10am Aug 19, 2013 2:10am
Quoting bbmac
Sorry, I do not understand your question. G/L {quote}
Are you in position, at what price and which direction? Sorry I didnt understand your posts
  • #345,442
  • Aug 19, 2013 2:20am Aug 19, 2013 2:20am
Quoting hanyalmasri
Our concept that we are using for years and make gain 85% telling us to go up, please have a look to the attached image. the market is your friend, always tells you where the price is going. all the best {image}
Hi all iam a newbie in fx. I am short gbpusd at 1.5640 with sl 1.5700. Oh my god fx is so hard
  • #345,443
  • Aug 19, 2013 2:21am Aug 19, 2013 2:21am
I had a long from 5640 (Close of the 10min hammer after pullback from 5645) to that 1hr flag top after it's upside breech - just closed ....and I had a long from close of the 5min PB (pinbar) candle 5616 earlier as price tested that previous 1hr swing lo/minor 4hr swing lo zone and found support- but flat now as price enters potential supply zone leading to 5655 hi at Daily R1 - ie have booked profit but equally could have held to see if any breech of that 5655 hi - last week's/Friday's hi.....(I trade off lower t/f triggers 1mi, 3min and 5min mostly)...so at the moment I am flat.

G/L

Quoting Ulterior
{quote} Are you in position, at what price and which direction? Sorry I didnt understand your posts
ex member
  • #345,444
  • Aug 19, 2013 2:23am Aug 19, 2013 2:23am
Quoting hanyalmasri
Our concept that we are using for years and make gain 85% telling us to go up, please have a look to the attached image. the market is your friend, always tells you where the price is going. all the best {image}
I don't think the upside will sustain.. imho.
  • #345,445
  • Aug 19, 2013 2:23am Aug 19, 2013 2:23am
any longs should take profit at 1.5680 until USA session as a probable reversal could happen
  • #345,446
  • Aug 19, 2013 2:37am Aug 19, 2013 2:37am
Quoting Davit
{quote} "POUND has broken out of its inverted Head and Shoulders pattern with a target to 1.63, there is one final resistance at 1.5750 beyond which there is no further resistance till 1.63. Look to buy at dips near the rising trendline.." Every trend is new Which means price could turn around at any point back to 1.50 at any round number 57 57.5 58 58.5 59 etc. To assume price has no resistance is a fallacy or statistically flawed. 1.63 is 680pips from current price.That is serious gain on weak fundamentals with looming Feds QE easing on the...
We can see a bounce back from those whole numbers you mentioned for a correction/retracement which can be as wide as 150-300 pips, but I don't see a change of trend technically from those numbers unless something changes fundamentally.
  • #345,447
  • Aug 19, 2013 2:37am Aug 19, 2013 2:37am
We got our first target and we are looking for the second one..
All the best for everyone.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpym5-2.png Size: 39 KB
  • #345,448
  • Aug 19, 2013 2:42am Aug 19, 2013 2:42am
for short bias, i'm more leaning into fiber taking into consideration EG and swissy technicals.. i think cable will follow fiber, currently waiting for signs of reversal in 4h..
  • #345,449
  • Aug 19, 2013 2:47am Aug 19, 2013 2:47am
If we go down and retest the broken weekly TL, I'll be looking for signs of a bounce to continue higher towards 5750++
Come with me if you want to live....
  • #345,450
  • Edited 3:10am Aug 19, 2013 2:49am | Edited 3:10am
There's a surprise - the greater probability played out (as the greater probability tends to do !)...upside breech of last week's hi and a pullback (or more ?)...to the immediate upside of this current daily hi:

5667-75 prev 4hr sw hi zone incl 5675 = Daily R2 @/around
5697 Daily R3 @/around

5712 Weekly R1 @/around

5725-33-51 prev 4hr/daily/weekly swing hi zone

[ 5750-70 monthly descending t/line coming thru on weekly candle

[ 5760 61.8% 6349-4811

5772 50% 6746-4811 and Monthly R2 @/around

5800 Weekly R2 @/around

5813-44 prev daily minor sw hi zone

5820-77 prev weekly sw lo zone incl: 5861-77 prev daily minor sw hi zone

G/L
ex member
  • #345,451
  • Aug 19, 2013 2:51am Aug 19, 2013 2:51am
Quoting Ill-b-back
If we go down and retest the broken weekly TL, I'll be looking for signs of a bounce to continue higher towards 5750++
Pardon me mate, i see that we are in an uptrend channel, where is the broken TL? Perhaps cable might range a bit in this area.. imho.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpusddaily.png Size: 51 KB
Click to Enlarge Name: gbpusdh4.png Size: 49 KB
  • #345,452
  • Edited 3:06am Aug 19, 2013 2:52am | Edited 3:06am
Very small swing , abortion & one last leg crazy again up , all ok & now again watching the top formation , 5646 is the limit for all down next & intact all targets down also .

anyway bull must be very shaking as the fear increasing tremendously though trying/doing crazy adds longs here too , even should be in taking any profit ( closing long) !! so careful all also !
all next leg up will short at top in strong hand with sl above reaction high 5751 to keep if possible .
fontu
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdm15.png Size: 40 KB
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #345,453
  • Aug 19, 2013 2:55am Aug 19, 2013 2:55am
Quoting A-speculator
{quote} Pardon me mate, i see that we are in an uptrend channel, where is the broken TL? Perhaps cable might range a bit in this area.. imho. {image} {image}
Its quite obvious actually, I'll post chart when I get home.
Come with me if you want to live....
  • #345,454
  • Aug 19, 2013 2:57am Aug 19, 2013 2:57am
Quoting Ill-b-back
{quote} Its quite obvious actually, I'll post chart when I get home.
ok, drive safely mate.
  • #345,455
  • Aug 19, 2013 2:58am Aug 19, 2013 2:58am
Quoting A-speculator
{quote} Pardon me mate, i see that we are in an uptrend channel, where is the broken TL? Perhaps cable might range a bit in this area.. imho. {image} {image}
It's a weekly TL "mate" you won't see it on 4hr/daily chart
Come with me if you want to live....
  • #345,456
  • Aug 19, 2013 3:02am Aug 19, 2013 3:02am
Quoting Ill-b-back
{quote} It's a weekly TL "mate" you won't see it on 4hr/daily chart
ok, i'll check them out then.. thanks.
  • #345,457
  • Aug 19, 2013 3:10am Aug 19, 2013 3:10am
After breakout top, GBP/USD is confirmed bullish...

If we get mixed USD data from 21 Aug, Wed FOMC meetings; GBP/USD goes further north.

Easy...

edit: my target 1.58600 area next (3-4 week time, maybe I'll trade options)
Attached Image (click to enlarge)
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  • #345,458
  • Aug 19, 2013 3:15am Aug 19, 2013 3:15am
Quoting openyoureyes
After breakout top, GBP/USD is confirmed bullish... If we get mixed USD data from 21 Aug, Wed FOMC meetings; GBP/USD goes further north. Easy...
it easy is when you can place a tight SL, in the case of that scenario, after the breach - it will be >500 pips wide
  • #345,459
  • Aug 19, 2013 3:23am Aug 19, 2013 3:23am
You can see the previous 4hr swing hi where some supply has come in...above that the previous swing hi zone leading to 5751 is showing as a previous 4hr/daily/weekly/minor monthly swing.

G/L
Attached Image (click to enlarge)
Click to Enlarge Name: z.jpg Size: 42 KB
ex member
  • #345,460
  • Aug 19, 2013 3:34am Aug 19, 2013 3:34am
Quoting openyoureyes
After breakout top, GBP/USD is confirmed bullish... If we get mixed USD data from 21 Aug, Wed FOMC meetings; GBP/USD goes further north. Easy... edit: my target 1.58600 area next (3-4 week time, maybe I'll trade options) {image}
i think it's too risky to long since swissy is at weekly support - 9250.. anyway, there has not been any indication the support will hold but i'll take a close look, still very interested in swissy rather than cable atm..
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