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Cable Update (GBPUSD)

  • #349,441
  • Oct 18, 2013 2:48pm Oct 18, 2013 2:48pm
Quoting Davit
guys don't overlook the swissy long 9020's does not come often. 5positions TP 97 Basically every 10 months we had low 90's Buy and hold!Build an equity! Just a perspective when Aussie was 88 all the talking heads were pointing 84 or lower.Citi Bank, Bloomberg Experts etc Now it rebounded 900pips in 3months! Where are those fkers now! Moral of the story is ignore the sky is falling tips. {image}
totally agree about usdchf, but same for usdjpy. and for cable but opposite (short).
"The secret of politics? Make a good treaty with Russia." Otto von Bismarck
  • #349,442
  • Oct 18, 2013 4:04pm Oct 18, 2013 4:04pm
Anyone here sees GBP/USD Hitting 1.6300 next week or is it just me?
Anything can happen in FOREX. There's no 100% sure
  • #349,443
  • Oct 18, 2013 4:11pm Oct 18, 2013 4:11pm
Quoting JimmyC
GU 1H {image} Caution We starred in this movie yesterday (its not a H&S) possible positive continuation after falling wedge, if it breaks to the upside after forming 50% of the (r) shoulder the wedge confirms If price breaks down ... its simply trending down (no target can be defined as per H&S) check 1HR RSI and stochs for confluence (Bullish) Wait G/L
That's not a falling wedge.
The contact points in the are not ok.
New voice message: Why are you calling me? If I need you, I'll call you!
  • #349,444
  • Oct 18, 2013 4:16pm Oct 18, 2013 4:16pm
W/e review

A bullish weekly candle close with roughly equal length upper and lower wicks, - achieving 118% of 20 week atr. No fractal swing created by this weekly candle close on this t/f but could see the swing lo at this week's 5893 become so depending on next week's weekly candle. This t/f remains in an opa uptrend, and price closes above it's 200 and 100sma but 100 remains below 200 sma and both are pretty much flatlining.

Friday's daily candle (77% of 20 day atr) closes as a pinbar. No fractal swing created by the close of this candle - the last on this t/f being the fractal LL at this week's 5893 low. The t/f remains in a weakened opa uptrend (beacuse of that LL.) Price closes above both it's 100 and 200sma's on this t/f and the 00 is crossed above the 200 and pointing up.

The 4hr t/f remains mixed-bullish re opa within the range created by the 6259 swing hi and this week's lo @ 6893. Price closes above the 100 and 200sma on this t/f, with the 100sma being crossed above the 200.

The 1hr t/f closes in a general opa uptrend althouygh we have seen a L printed now at the current pullback lo (85.4% fib 6141-6224 [the weekly/friday's hi.]) Like the 4hr this 1hr sees price close above it's 100 and 200sma with 100 cossed above the 200 and pointing up. The pullback from the weekly hi/friday's hi @ 6224 has breeched the ascending 1hr trend line to the downside.

Summary: Generally bullish then on this pairing but no upside breech of that 6259 last major swing hi (previous daily/minor weekly swing hi) yet, and the H&S spotters / longer term bears nursing underwater positions will likely be encouraged by Today's daily candle - indeed some may use it as the trigger to enter/add short on this (imperfect) H&S on this daily t/f if they believe it is a valid hi-probability pattern and the greater probability is for a sustained move down or a move down at least sufficient to rescue their unrealised p&l's - in many cases ?

Number of lots short gbpusd per this site's trade explorer thingy falls from 83% to 71% as of Friday's close - a good sign for the bears lol ?

Eurusd and usdchf challenged potential res/supp zones respectively present to their weekly/monthly charts at their Friday high/lows . It is break or bounce from these areas for these pairings...and so far there has been a small bounce on each.
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ex member
  • #349,445
  • Oct 18, 2013 4:21pm Oct 18, 2013 4:21pm
Quoting piptastic
Anyone here sees GBP/USD Hitting 1.6300 next week or is it just me?
Just you
New voice message: Why are you calling me? If I need you, I'll call you!
  • #349,446
  • Oct 18, 2013 5:11pm Oct 18, 2013 5:11pm
From next week I will build new long positions hedging short positions. We have a new trend. Let's see what will happen. My system tells me long from NOW so I HAVE TO DO IT!
G/L ;-)
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  • #349,447
  • Oct 18, 2013 5:18pm Oct 18, 2013 5:18pm
Quoting bbmac
W/e review A bullish weekly candle close with roughly equal length upper and lower wicks, - achieving 118% of 20 week atr. No fractal swing created by this weekly candle close on this t/f but could see the swing lo at this week's 5893 become so depending on next week's weekly candle. This t/f remains in an opa uptrend, and price closes above it's 200 and 100sma but 100 remains below 200 sma and both are pretty much flatlining. Friday's daily candle (77% of 20 day atr) closes as a pinbar. No fractal swing created by the close of this candle - the...

GREAT CHARTS WHICH TELLS US ABSOLUTELY NOTHING!!!



you go long or you go short? and because of what ?

  • #349,448
  • Oct 18, 2013 5:49pm Oct 18, 2013 5:49pm
Quoting KillerWhale
{quote} Just you
Cool, ill come back again when it hits that price then...
Anything can happen in FOREX. There's no 100% sure
  • #349,449
  • Oct 18, 2013 5:57pm Oct 18, 2013 5:57pm
Quoting polbanda
{quote} GREAT CHARTS WHICH TELLS US ABSOLUTELY NOTHING!!! you go long or you go short? and because of what ?

Charts tell us what happened in the past.
  • #349,450
  • Oct 18, 2013 6:04pm Oct 18, 2013 6:04pm
This is what I'm seeing on the monthly, for what it's worth.

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  • #349,451
  • Oct 18, 2013 6:12pm Oct 18, 2013 6:12pm
Won't be at all surprised to see a run up to 6250 on Monday.
Overall, the weekly and daily formation from the beginning of October still has me targeting the lower 38.2 and 50 fibs, whether or not the market is also is another matter lol, but those 4hr and daily pins cannot be ignored..

Still don't see any reason to close swing trade shorts.
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Come with me if you want to live....
  • #349,452
  • Oct 18, 2013 6:16pm Oct 18, 2013 6:16pm
Quoting Baggi
This is what I'm seeing on the monthly, for what it's worth. {image}
Yes Siree, that's quite a bit of monthly consolidation at the bottom.
If/When this thing breaks north out of that triangle, it will be one hell of a retest and move north....

USD is toast in the medium/longer term IMO
Come with me if you want to live....
  • #349,453
  • Oct 18, 2013 6:36pm Oct 18, 2013 6:36pm
Quoting Ill-b-back
{quote} Yes Siree, that's quite a bit of monthly consolidation at the bottom. If/When this thing breaks north out of that triangle, it will be one hell of a retest and move north.... USD is toast in the medium/longer term IMO
Yeah, you've basically got six months of rejections before the last two green monthly candles.

If consolidation is like rocket fuel.....
  • #349,454
  • Oct 18, 2013 6:50pm Oct 18, 2013 6:50pm
Quoting forexalien
Last thing I see before I take off....................... H1 is in a H&S looking set up to come also................... {image} {image}
Update from past post..............
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The More You Learn, The More You Earn.....
  • #349,455
  • Oct 18, 2013 6:50pm Oct 18, 2013 6:50pm
Quoting fontu
{quote} Nice picture of so called Team work , a democracy without a dictator ,doing & following the perfect at places but must to bridge the GAP at some points in the team work to align or work at all . anyway saving it for Kid to have some fun & learn!! Thanks , fontu
Another 'TEAM WORK' Picture...
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Always looking the GREAT, never left GOOD Point...
  • #349,456
  • Oct 18, 2013 6:58pm Oct 18, 2013 6:58pm
Rocket fuel indeed...

In keeping with that consolidation, this is my medium/longer term take for a duel retest at 50 fib/resistance at 1.73xx after retracing to the immediate 38.2/50 fib support below.
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Come with me if you want to live....
  • #349,457
  • Oct 18, 2013 6:59pm Oct 18, 2013 6:59pm
Price should remain in the Yellow channel until the market knows where to take it next week.............
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The More You Learn, The More You Earn.....
  • #349,458
  • Oct 18, 2013 7:02pm Oct 18, 2013 7:02pm
Quoting Tsar
{quote} Another 'TEAM WORK' Picture... {image}
lol, It almost looks like one of the soldiers at the back of the image is holding up a camera so he can film the hilarity to show his kids one day (if he survives).
Come with me if you want to live....
  • #349,459
  • Oct 18, 2013 7:31pm Oct 18, 2013 7:31pm
Quoting forexalien
Price should remain in the Yellow channel until the market knows where to take it next week............. {image}
Correction almost always follows a quick run ( 220 pips or more in one day). The chance for one ATR correction is around 70%.

I am short on GU.
  • #349,460
  • Oct 18, 2013 7:44pm Oct 18, 2013 7:44pm
Quoting KillerWhale
{quote} Lovely pinbar 4 hr chart
Look... She's [CABLE] truly Pretty Girl

Be careful behind her beauty, she's different than him [FIBER]
Attached Image
Always looking the GREAT, never left GOOD Point...
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