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Cable Update (GBPUSD)

  • #345,581
  • Aug 21, 2013 5:07am Aug 21, 2013 5:07am
Bullish 1hr close right at yesterday's 5695 hi...weekly 100sma there , Daily R1 @/around 5698 weekly 200sma just above with Weekly R1 @/around 5712...offers reported to 5710 with likely stop loss buying if breeched ...how strong are the bulls now with 5751 swing hi in view ? and if it reaches there - breech or bounce ? Lot of retailers already positioned short apparently.

G/L
ex member
  • #345,582
  • Aug 21, 2013 5:11am Aug 21, 2013 5:11am
Quoting bbmac
Bullish 1hr close right at yesterday's 5695 hi...weekly 100sma there , Daily R1 @/around 5698 weekly 200sma just above with Weekly R1 @/around 5712...offers reported to 5710 with likely stop loss buying if breeched ...how strong are the bulls now with 5751 swing hi in view ? and if it reaches there - breech or bounce ? Lot of retailers already positioned short apparently. G/L

As previously posted, I havent ruled out a test of 1.5750...

However, like you say, it would appear that many retailers are watching that level so I cant help thinking it may not hold if price does get there. Seems to obvious...
  • #345,583
  • Aug 21, 2013 5:41am Aug 21, 2013 5:41am
...supply kicks in at that potential res confluence described above-on test of yesterday's hi....swift move down from there - the current daily hi too

G/L
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ex member
  • #345,584
  • Aug 21, 2013 5:47am Aug 21, 2013 5:47am
Bounced at the pivot and rests above Monday's high. Could mean nothing...
  • #345,585
  • Aug 21, 2013 5:51am Aug 21, 2013 5:51am
fomc could take this to just below 1.54 or just above 1.58
i expect anything. will be watching
  • #345,586
  • Aug 21, 2013 6:04am Aug 21, 2013 6:04am
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"A journey of a thousand miles begins with a single step"
  • #345,587
  • Aug 21, 2013 6:08am Aug 21, 2013 6:08am
Quoting TauTrader
{quote} Good day to you, karelk My apology.Had to catch some ZZZ.. English is not my first language and I can see why my statement is puzzling. I meant to say that I am building a short towards 1.55746. Not waiting for 1.55746 before I short. The chart posted shows the trade plan. Hope this clears it up? All the best
Good day to you, too. Thank you for your explanation; it does clear it up. And Faller's explanation fitted my mis-interpretation of what you meant - so I am happy on both sides .

All the best to you, too. Karel
  • #345,588
  • Aug 21, 2013 6:28am Aug 21, 2013 6:28am
Good day,

Back from meeting. See she is still up there... Most of the times, when price breaks the .85 level - it goes onto the next .00. So waiting still.

Regards
  • #345,589
  • Aug 21, 2013 6:40am Aug 21, 2013 6:40am
I perceive for a certainty that the market movers have a great sense of humor! I'll try and predict what ll happen in the coming days. A lot of retailers are drawing 1.5750 as the line on the sand, something tells me that 1.5750 would be taken out with rage violently surging towards 1.5800 or a little higher. At that point the "BEARS" would have converted to "BULL ISM", just when everyone starts checking their crystal ball on the next northward target they then throw a trailer load of BULLSHIT on retailers by droping the pound like a hot knife in butter. there's gonna be lots of blood on the dance floor!!!
  • #345,590
  • Aug 21, 2013 6:51am Aug 21, 2013 6:51am
Quoting Makavell
I perceive for a certainty that the market movers have a great sense of humor! I'll try and predict what ll happen in the coming days. A lot of retailers are drawing 1.5750 as the line on the sand, something tells me that 1.5750 would be taken out with rage violently surging towards 1.5800 or a little higher. At that point the "BEARS" would have converted to "BULL ISM", just when everyone starts checking their crystal ball on the next northward target they then throw a trailer load of BULLSHIT on retailers by droping the pound like a hot knife...
good day, Makavell

You are probably right. If one were to look at various published long/short retail position ratios - it's short by a large margin. Although retail traders are extremely good in picking short term direction, wrong choices now and then kills the profits and puts us into losses, as we are stubborn enough to hold on. What you are saying - I have been thinking...

I have 1.5845 on my chart for a few months now. This could be it... I know this is not helping - but it is part of the consideration and has to be mentioned.

With that said - 1.5576 remains an area of interest.

I need a drink..

All the best
  • #345,591
  • Aug 21, 2013 7:07am Aug 21, 2013 7:07am
well, well, ... lets see if GU will be a dancing queen tonight! 1.5780
  • #345,592
  • Aug 21, 2013 7:40am Aug 21, 2013 7:40am
Quoting Makavell
I perceive for a certainty that the market movers have a great sense of humor! I'll try and predict what ll happen in the coming days. A lot of retailers are drawing 1.5750 as the line on the sand, something tells me that 1.5750 would be taken out with rage violently surging towards 1.5800 or a little higher. At that point the "BEARS" would have converted to "BULL ISM", just when everyone starts checking their crystal ball on the next northward target they then throw a trailer load of BULLSHIT on retailers by droping the pound like a hot knife...
Me thinks similar. All this ($ bull ) taper talk over the last 7 weeks has done is create a $ sell off.
However, the first headlines drawing our attention to Bens commitment to keep interest rates low and that investors are focussing too much on the taper, are starting to appear.

they screwed the weaker $ bulls with their taper talk, now they want to start trapping the $ bears with interest rate chatter without any reference to charting.

lol...
Come with me if you want to live....
  • #345,593
  • Aug 21, 2013 8:02am Aug 21, 2013 8:02am
Quoting Ill-b-back
{quote} Me thinks similar. All this ($ bull ) taper talk over the last 7 weeks has done is create a $ sell off. However, the first headlines drawing our attention to Bens commitment to keep interest rates low and that investors are focussing too much on the taper, are starting to appear. they screwed the weaker $ bulls with their taper talk, now they want to start trapping the $ bears with interest rate chatter without any reference to charting. lol...
For me it is funny, cable has been rising while people talking and expecting tapering, many trader also expect big drop in this pair but she manage climbing up In Higher TF, cable constantly making higher low also higher high ......seems like many trader wait the cable up to 1.575x area to activate their sell position. The possibility will be, it will be taken till touch their SL's or it will never going there....
  • #345,594
  • Aug 21, 2013 8:02am Aug 21, 2013 8:02am
Okay everyone still hold on pants. If price is getting 5720 to 5750 than I thinking time for another sell. Right now holding pants. Not worry big monies is coming soon. I not saying anything new, you good guys know this already.



Mother telling me sometimes need voice opinion, to assure everyone is doing right thing. This is hard in life because sometimes it is better not say nothing. Now I thinking to voice and say something, because some is agreeing price is going down very soon. Good job nice guys.



I making the big monies, so far +10 pips. Follow me if you nice guy...
  • #345,595
  • Aug 21, 2013 8:59am Aug 21, 2013 8:59am
Quoting forexaccent
Okay everyone still hold on pants. If price is getting 5720 to 5750 than I thinking time for another sell. Right now holding pants. Not worry big monies is coming soon. I not saying anything new, you good guys know this already. Mother telling me sometimes need voice opinion, to assure everyone is doing right thing. This is hard in life because sometimes it is better not say nothing. Now I thinking to voice and say something, because some is agreeing price is going down very soon. Good job nice guys.

What if they delayed tapering till november ?

+++
  • #345,596
  • Edited 9:15am Aug 21, 2013 9:00am | Edited 9:15am
Pullback from yesterday's hi found support at the daily pivot/steepest ascending t/line on 1hr/4hr for a run up to 5701- keeps edging higher !...previously reported offers 5695-5710 kicked in here again...in this 5695-57-00 is Daily R1, descending t/line Jan-Jun , 100sma on weekly, and just above 5712 area = Weekly R1...above here the 5725-33-51 previous 4hr/daily/weekly swing hi zone with Daily R2 @/around 5730. Stop loss buying reported above 5710 with next offers reported 5720-25 then 5750-55 ? The monthly descending t/line comes thru around 5750-70 too, the weekly 200smabeing @/around 5750, with 61.8% 6349-4811 @ 5760.

Speaking of sma's The 1hr 4hr and daily sma's are all under current price with 1hr and 4hr the 100 is crossed above the 200 but not on daily.

All eyes on FOMC minutes later then.

G/L
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ex member
  • #345,597
  • Aug 21, 2013 9:22am Aug 21, 2013 9:22am
Good day,

Placed a small short @ 1.5693. Next one to go in at 1.5778 and one more planned for 1.5835. Then pray.

Ugh..

regards
  • #345,598
  • Aug 21, 2013 9:25am Aug 21, 2013 9:25am
Good call tautrader are you trading other pairs as well?
Whats ur forecast for gbp / usd for next 2 months?
  • #345,599
  • Aug 21, 2013 9:33am Aug 21, 2013 9:33am
Quoting Lattepips
Good call tautrader are you trading other pairs as well? Whats ur forecast for gbp / usd for next 2 months?

Good day to you, Lattepips

I see us in an early sell zone. But we have a LOT of room to the upside. Even into the 1.60xx area. To answer your question - it will depend on how we move. I allow myself only to plan sell positions at this time due to our position - but it is not strange to see price running 1000 pips past an intended sell or buy. Retail traders are mostly short - so I will predict a nett upside result over the next 2 months with tradeable retrace opportunities if those can be identified correctly.

Not saying much - am I

regards to you
  • #345,600
  • Aug 21, 2013 9:35am Aug 21, 2013 9:35am
Quoting TauTrader
I see us in an early sell zone. But we have a LOT of room to the upside. Even into the 1.60xx area. To answer your question - it will depend on how we move. I allow myself only to plan sell positions at this time due to our position - but it is not strange to see price running 1000 pips past an intended sell or buy.
In other words, if it doesn't go down, it might go up. But if id doesn't go up it might as well go down
"Luxury is one of the basic needs", (c), Don Corleone
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