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Cable Update (GBPUSD)

  • #346,141
  • Aug 30, 2013 9:44am Aug 30, 2013 9:44am
Quoting nAVIN2007
this movement is so slow..damnit
moments away..

http://www.state.gov/
  • #346,142
  • Aug 30, 2013 9:55am Aug 30, 2013 9:55am
Quoting Maso
{quote} In September it is falling Long audusd at 0.75 not now

The market is still showing mixed sentiment surrounding the aussy and the dollar as some pairs are directionally positioned on light liquidity and expect the aud/usd to be predominately long surrounding this area. There does seem to be support around this 8900 area and I feel with the way this is trading ( compressing around 8900 support SZ15G-Swapped gapped orderflow) this is also heavily overextended 250% to the downside with significant upside risk potential.

I think we are seeing the Pinnacle of bad data pushing into the market as the market is looking to buy into this weakness.
  • #346,143
  • Aug 30, 2013 10:31am Aug 30, 2013 10:31am
Quoting nAVIN2007
this movement is so slow..damnit
No worries mate!

Next week this time you'll see some unbelievable levels
  • #346,144
  • Aug 30, 2013 10:39am Aug 30, 2013 10:39am
My thoughts on cable atm )
Attached Image (click to enlarge)
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  • #346,145
  • Aug 30, 2013 12:06pm Aug 30, 2013 12:06pm
Quoting dexter393
My thoughts on cable atm ) {image}
Attached Image (click to enlarge)
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  • #346,146
  • Aug 30, 2013 3:15pm Aug 30, 2013 3:15pm
Quoting Maso
{quote} {image}
up 4h
Attached Image (click to enlarge)
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  • #346,147
  • Aug 31, 2013 12:06am Aug 31, 2013 12:06am
I have posted my POUND analysis for coming week for those who are interested here:

http://www.forexfactory.com/showthre...04#post6931404
  • #346,148
  • Aug 31, 2013 1:47am Aug 31, 2013 1:47am
Still US Dollar is strong and majors are in downside move. I keep my shorts at least till Tuesday.

Quoting Purple
I have posted my POUND analysis for coming week for those who are interested here: http://www.forexfactory.com/showthre...04#post6931404
  • #346,149
  • Aug 31, 2013 1:50am Aug 31, 2013 1:50am
Quoting Maso
Still US Dollar is strong and majors are in downside move. I keep my shorts at least till Tuesday. {quote}
At what level did you went short?
  • #346,150
  • Aug 31, 2013 2:03am Aug 31, 2013 2:03am
Quoting Purple
{quote} At what level did you went short?
1.56
  • #346,151
  • Aug 31, 2013 2:12am Aug 31, 2013 2:12am
Quoting Maso
{quote} 1.56
Oh that's pretty high and in comfortable position..

We have Labor day holiday in US on Monday, so not much to worry from American side, but their is Manufacturing PMI from UK on Monday and Construction PMI on Tuesday ..

If I were you I would have locked in atleast 1.5550 as SL with 50 pips profit and plot a 20 and 8 day SMA and use it to trail my SL on 4 HR chart based on SMA crossover.. If you can afford it, I think 1.5570 SL will be better than 1.5550 considering Pound whipsaw movements..

All the best with your trade..
  • #346,152
  • Aug 31, 2013 2:43am Aug 31, 2013 2:43am
Quoting stond
{quote} up 4h {image}
Nice fishing net
  • #346,153
  • Aug 31, 2013 3:55am Aug 31, 2013 3:55am
Quoting Purple
{quote} Oh that's pretty high and in comfortable position.. We have Labor day holiday in US on Monday, so not much to worry from American side, but their is Manufacturing PMI from UK on Monday and Construction PMI on Tuesday .. If I were you I would have locked in atleast 1.5550 as SL with 50 pips profit and plot a 20 and 8 day SMA and use it to trail my SL on 4 HR chart based on SMA crossover.. If you can afford it, I think 1.5570 SL will be better than 1.5550 considering Pound whipsaw movements.. All the best with your trade..
Purple... you still LONG the GBP/USD?

GBP against the commodity currencies, I think, have some tremendous upside potential in the cards.
  • #346,154
  • Aug 31, 2013 4:12am Aug 31, 2013 4:12am
Quoting FxMaximus
{quote} Purple... you still LONG the GBP/USD? GBP against the commodity currencies, I think, have some tremendous upside potential in the cards.
I was long in Pound two weeks back after the break out from its inverted Head and Shoulders pattern, but exited after it failed to break 1.5750 level as pointed here:

http://www.forexfactory.com/showthre...63#post6915963

I am now waiting for a break above 1.5550 now to go long on it..
  • #346,155
  • Aug 31, 2013 5:41am Aug 31, 2013 5:41am
Quoting fingotrader
Hi, I join the tread started by Day Trader and ask you guys the same question about GBPUSD the coming week, any views on where we are going? Thanks FT
Down.
Totally sick and tired of conspiracy theories.
  • #346,156
  • Aug 31, 2013 5:50am Aug 31, 2013 5:50am
Quoting Purple
{quote} I was long in Pound two weeks back after the break out from its inverted Head and Shoulders pattern, but exited after it failed to break 1.5750 level as pointed here: http://www.forexfactory.com/showthre...63#post6915963 I am now waiting for a break above 1.5550 now to go long on it..
are you sure want to long it?

I was thinking Head and Shoulders in daily should be the initial of big bearish movement. There is strong support level from the daily chart. Can you look there is also big bearish movement before this?...

According to gann's pyramid 1.57 sholud be the strong support/resistance

just my opinion
  • #346,157
  • Aug 31, 2013 7:20am Aug 31, 2013 7:20am
Quoting FuzaGame
{quote} are you sure want to long it? I was thinking Head and Shoulders in daily should be the initial of big bearish movement. There is strong support level from the daily chart. Can you look there is also big bearish movement before this?... According to gann's pyramid 1.57 sholud be the strong support/resistance just my opinion
I think you are talking about HnD formed in the month of AUG and I was referring to inverted HnD on daily since April which I have drawn in my journal.. the movement of last two weeks have invalidated my HnD and its breakout..

Bouncing off again and again from lower end of the channel on 4HR is the only reason for me to long it, besides fundamentals like good recovery in UK economy and their decision to not be part of any involvement in Syria.

I would consider longing it only if it gives a close above 1.5550 on 4HR chart.. I am not long now.. But I will definitely not short it at any price above 1.54 .. And I agree with you that 1.5750 major resistance has pushed lower to 1.5700 now.
  • #346,158
  • Aug 31, 2013 7:45am Aug 31, 2013 7:45am
Quoting Purple
{quote} I think you are talking about HnD formed in the month of AUG and I was referring to inverted HnD on daily since April which I have drawn in my journal.. the movement of last two weeks have invalidated my HnD and its breakout.. Bouncing off again and again from lower end of the channel on 4HR is the only reason for me to long it, besides fundamentals like good recovery in UK economy and their decision to not be part of any involvement in Syria. I would consider longing it only if it gives a close above 1.5550 on 4HR chart.. I am not long...
Your analysis is different from mine, maybe because we trade on different timeframe.
I think those particularly news are not impact much in long term. For me,the most rational for GU is just "resting" after bearish on a week. After that GU will continue bearish.....
  • #346,159
  • Aug 31, 2013 10:39am Aug 31, 2013 10:39am
Quoting Purple
{quote} I was long in Pound two weeks back after the break out from its inverted Head and Shoulders pattern, but exited after it failed to break 1.5750 level as pointed here: http://www.forexfactory.com/showthre...63#post6915963 I am now waiting for a break above 1.5550 now to go long on it..
Purple thanks. I appreciate your perspective and enjoy looking at what you share. As we all know, the market is a moving, "living" thing. It is changing all the time. I was short and took some profits. I am waiting to see what direction the "big boys" take this pair now that the summer days are over and the powers that be will be back at "the trading desk".

Take care and have a good remainder of this weekend.
  • #346,160
  • Aug 31, 2013 3:01pm Aug 31, 2013 3:01pm
1.57 methinks, bias long.
I have no clue what I'm talking about.
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