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Cable Update (GBPUSD)

  • #346,381
  • Sep 4, 2013 11:19am Sep 4, 2013 11:19am
IF weakness in USD, we can see 1.57 in cable, together with 1.33 in EU so equals to a short term breakout in EUR GBP reaching middle and higher 0.84 area (.8450 - .8490).

to make this possible, cable must hold > 1.56, euro > 1.3190
Attached Image (click to enlarge)
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  • #346,382
  • Sep 4, 2013 11:26am Sep 4, 2013 11:26am
Quoting _BBKing_
IF weakness in USD, we can see 1.57 in cable, together with 1.33 in EU so equals to a short term breakout in EUR GBP reaching middle and higher 0.84 area (.8450 - .8490). to make this possible, cable must hold > 1.56, euro > 1.3190 {image}
BB,

I'm waiting for this... but not happening at this time. All indications are there for EUR/GBP to retrace for a few. But underwater still...

Am waiting for 0.8500

  • #346,383
  • Sep 4, 2013 12:02pm Sep 4, 2013 12:02pm
Quoting TauTrader
{quote} BB, I'm waiting for this... but not happening at this time. All indications are there for EUR/GBP to retrace for a few. But underwater still... Am waiting for 0.8500
hey TT,
yes i also don't believe this is a low in EGBP... the thing should meet new demand somewhere into .83 area in med term!
But ok, in short term .85 is the level to watch

In long term i see a nice quarterly level to be eventually visited 8330 and 8250.
i just wonder... what if it will play out as a weekly double top instead of a bullflag?
Attached Image (click to enlarge)
Click to Enlarge Name: Chart_EUR_GBP_Weekly_snapshot.png Size: 23 KB
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  • #346,384
  • Sep 4, 2013 12:24pm Sep 4, 2013 12:24pm
Quoting _BBKing_
{quote} hey TT, yes i also don't believe this is a low in EGBP... the thing should meet new demand somewhere into .83 area in med term! But ok, in short term .85 is the level to watch In long term i see a nice quarterly level to be eventually visited 8330 and 8250. i just wonder... what if it will play out as a weekly double top instead of a bullflag? {image}
BB,

We are in a very weak buy zone. I was looking for a retrace here. As a shorter term trade. Back to the mid at least.. But she's difficult
Attached Image (click to enlarge)
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  • #346,385
  • Edited 12:47pm Sep 4, 2013 12:24pm | Edited 12:47pm
ok going even some turmoils in currency. audusd correcting step. with euraud,gbpaud continue falling enhancement,gold up & down started early to check status,gu having new tops & eu also trying follow gu but all ok withing good limit.
not co-ordination yet to all but ok status to carry out .
frankly speaking , in gu now there remains a breakout at 5606/0 for the limit for up at 5573 & must below 5595 natural acting if want further 1 more leg up , that is blindly bounce at 5606/0 to or above 5573 but after bo below 5595 to new top again , take any choice without any good prospect for up yet!!

Anyway , just a first reaction to the market at first look for the day , as stayed out whole day ,will follow more if necessary to see .

gold at critical level , in a bull set up actually . do either break 1350 or to have a new top ,now on 1383 sr though a daily hammer candle there , or breaks 1373 to even on 1352 make no sense for bear yet , break need 1347,

fontu
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #346,386
  • Sep 4, 2013 12:35pm Sep 4, 2013 12:35pm
Hello all, it was my analysis of the cable on Friday. Alas I do not know why not trade just watched it , but the market is also there tomorrow for new positions
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  • #346,387
  • Sep 4, 2013 12:35pm Sep 4, 2013 12:35pm
Quoting Prosac_100Mg
I am going to try and fade this hopefully its the high of the day short 1.5639 sl 5648 TP anything the market gives
took 10 tomorrows another day
  • #346,388
  • Sep 4, 2013 1:04pm Sep 4, 2013 1:04pm
Quoting TauTrader
{quote} BB, We are in a very weak buy zone. I was looking for a retrace here. As a shorter term trade. Back to the mid at least.. But she's difficult {image}
yes the lower .84 area can act as short term low.
but i would definetly like to see some signs of demand... at the moment price is just drifting down without important bounces.
i imagine something like this
Attached Image (click to enlarge)
Click to Enlarge Name: Chart_EUR_GBP_4 Hours_snapshot.png Size: 29 KB
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  • #346,389
  • Sep 4, 2013 6:36pm Sep 4, 2013 6:36pm
Quoting _BBKing_
IF weakness in USD, we can see 1.57 in cable, together with 1.33 in EU so equals to a short term breakout in EUR GBP reaching middle and higher 0.84 area (.8450 - .8490). to make this possible, cable must hold > 1.56, euro > 1.3190 {image}
imho, since the movement up was not so massive, i think cable might retest about 5585 area in the form of waves..
  • #346,390
  • Sep 4, 2013 11:03pm Sep 4, 2013 11:03pm
Good day to you,

Hope everyone is fine. As we sit now, the majority of short position stops are currently observed between 1.5690 and 1.5710 ( a total of just over 4000 positions). This may be a very attractive area to go and collect those stops eventually...

Just saying..

All the best
  • #346,391
  • Sep 4, 2013 11:28pm Sep 4, 2013 11:28pm
Quoting _BBKing_
{quote} yes the lower .84 area can act as short term low. but i would definetly like to see some signs of demand... at the moment price is just drifting down without important bounces. i imagine something like this {image}
BB,

I closed all in the red. Consolidating positions to start limiting risk heading towards Friday. I feel better now.

Regards
  • #346,392
  • Sep 5, 2013 2:05am Sep 5, 2013 2:05am
Good Morning !
Today's S/R MT4 Templaes

EURO
EURJPY
AUDUSD
CABLE

http://www.forexfactory.com/showthre...64#post6942064
FX is a Bitc*h!, No one keeps me wake all night but FX does!!
  • #346,393
  • Sep 5, 2013 2:20am Sep 5, 2013 2:20am
Quoting 3211
hi to all about GBP we beleive according to this wave movement. http://www.forexsignalstreet.com/wp-...8/gbpusdh4.png
That would be in an ideal world.. But even if your chart was to be true, I think the 3rd wave is longer than 1st and last wave?

I was bullish on GBPUSD since Friday close but the Monday gap open in GBP and EURGBP pair sent all my trade plans haywire and it seems I am missing out on good trade this week. I took a long on GBP and short on EURGBP on Monday London session and got out with small profit on Teusday only coz of fear of the pairs reversing to fill the gap first before going any higher/lower. But it has not filled them yet yet.. so I am still sticking out.. I guess NFP whipsaw will make these pairs fill the gap..
  • #346,394
  • Sep 5, 2013 2:27am Sep 5, 2013 2:27am
Around 5540-50 area would see a retest of the 4hr wedge thingy originating from the August highs
Come with me if you want to live....
  • #346,395
  • Sep 5, 2013 2:47am Sep 5, 2013 2:47am
G/M,

Another bullish daily candle resulted yesterday - 5647 the Hi @ 76.4% 5716-5427 and a sell off from there, price now testing deeper in the previous 1hr/4hr swing hi zone that probably goes down to 5575. 4hr and daily remain in general opa uptrends...1hr that has weakened considerably.

Still see-ing commentary re potential daily H&S in this pairing and to sell it ...general feel that as summer ends $ will strengthen and particularly if Syria problem spreads on any U.s led action there ?

20 day atr down t0 85 ! was 136 not so long ago earlier this year - the dog days of summer see-ing the usual fall in that...at least better than the 65 reached at end of last year !

Uk Boe stuff at 12 noon...Qe the only one to watch then re Carney's recent forward guidance and insistences...but likely no change in that.

G/L
ex member
  • #346,396
  • Sep 5, 2013 3:03am Sep 5, 2013 3:03am
Quoting TauTrader
{quote} BB, I closed all in the red. Consolidating positions to start limiting risk heading towards Friday. I feel better now. Regards
I also closed both EU + GU.
Not clear situation!
better wait
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  • #346,397
  • Sep 5, 2013 3:04am Sep 5, 2013 3:04am
Quoting A-speculator
{quote} imho, since the movement up was not so massive, i think cable might retest about 5585 area in the form of waves..
possible!
i scaled the position near 5650 then closed whole few minutes ago near 5615.
now flat eventually till next week... market needs a shake
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  • #346,398
  • Sep 5, 2013 3:07am Sep 5, 2013 3:07am
If Daily candle closes bearishly - will it trigger potential H&S technical selling ?

G/L
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  • #346,399
  • Sep 5, 2013 3:26am Sep 5, 2013 3:26am
Quoting _BBKing_
{quote} yes the lower .84 area can act as short term low. but i would definetly like to see some signs of demand... at the moment price is just drifting down without important bounces. i imagine something like this {image}

Hey... Look who's talking ?
Always looking the GREAT, never left GOOD Point...
  • #346,400
  • Sep 5, 2013 3:43am Sep 5, 2013 3:43am
Upside traction gaining ? - this after test of 1st 1/2 but deeper into the previous 1hr/4hr swing hi x 2 zone (prev res - now sup ?) Deeper in this zone to likely 5575 the steepest 4hr asc t/line and 2 x fibs from 5461 and 5520 to the 5647 hi.

No known Uk event risk till 12 noon London...German Ind orders re fiber later.

G/L
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