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Cable Update (GBPUSD)

  • #349,461
  • Oct 18, 2013 8:38pm Oct 18, 2013 8:38pm
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
I don't understand you? you said usd is toast yet you're taking sell trades... i'm confused
Anything can happen in FOREX. There's no 100% sure
  • #349,462
  • Oct 18, 2013 9:00pm Oct 18, 2013 9:00pm
Quoting piptastic
{quote} I don't understand you? you said usd is toast yet you're taking sell trades... i'm confused
Those sells are for a retrace against what I see as an emerging new trend. I think in a news section I said after a retrace to support, I think the USD is toast. My charts show my view.
Hope that helps
Come with me if you want to live....
  • #349,463
  • Oct 18, 2013 11:13pm Oct 18, 2013 11:13pm
just buy when up
just sell when down
enough...............................
  • #349,464
  • Oct 18, 2013 11:19pm Oct 18, 2013 11:19pm
1.63 is the next target, only if the daily close is above >1.6172 this will be violated.
  • #349,465
  • Oct 18, 2013 11:45pm Oct 18, 2013 11:45pm
Quoting Ill-b-back
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. {image} {image} {image}
i like your view. but from economic reports i have read recently regarding GU. i am of the opinion there is nothing fundamentaly that will cause a `BREAKOUT` of the longterm channel it has been. The report said that a BREAKOUT will eventually come but it highly expects that it will not be anytime soon.
Trend_Masters
  • #349,466
  • Oct 19, 2013 2:01am Oct 19, 2013 2:01am
There are none so blind as those who cannot see.

As for revealing my trading plans or the buy/sell set-ups generated by my edge - I have no intention of doing so - and if I did I would charge for such info. In any event I finished the week as I do all weeks - flat - not holding any positions. I will leave it to others to indulge in buy/sell calls for their own particular reasons (many are vanity exercises) meanwhile I will continue to post my own analysis and others will, like we all do from all postings here, take from it what they want.The analysis I post here at w/e's gives me the wider technical picture of what is going on re this pairing and such analysis on these longer t/f's can sometimes point to what the greater probability of future price direction is - when it is clear (it is not always.)

G/L

Quoting polbanda
{quote} GREAT CHARTS WHICH TELLS US ABSOLUTELY NOTHING!!! you go long or you go short? and because of what ?
ex member
  • #349,467
  • Oct 19, 2013 2:19am Oct 19, 2013 2:19am
Quoting KillerWhale
{quote} That's not a falling wedge. The contact points in the are not ok.
@KW
You are correct it is not.

I'll clean my analysis up during the weekend and repost, there are some area's of interest that a few hours will help me understand. Live markets always blur the view a little, then (if you like) lets see if my analysis improves after breaking up the probabilities.

Thank you!
  • #349,468
  • Oct 19, 2013 2:39am Oct 19, 2013 2:39am
Quoting Tsar
{quote} Another 'TEAM WORK' Picture... {image}

this is Professional teamwork high class..............
Attached Image
  • #349,469
  • Oct 19, 2013 3:05am Oct 19, 2013 3:05am
Keep it up guys, study hard this weekend.
My vision is down for GU, not because I have shorts, but because I see that the dollar index is at a low on a falling wedge.
That usually means a break to the upside for the dollar.
New voice message: Why are you calling me? If I need you, I'll call you!
  • #349,470
  • Oct 19, 2013 3:48am Oct 19, 2013 3:48am
Quoting kerndc
{quote} i like your view. but from economic reports i have read recently regarding GU. i am of the opinion there is nothing fundamentaly that will cause a `BREAKOUT` of the longterm channel it has been. The report said that a BREAKOUT will eventually come but it highly expects that it will not be anytime soon.
Could do, economics is not a strong point of mine by any stretch of even the wildest imagination
Come with me if you want to live....
  • #349,471
  • Oct 19, 2013 4:30am Oct 19, 2013 4:30am
What do you think ?????
Attached Image (click to enlarge)
Click to Enlarge Name: Capture.JPG Size: 127 KB
Assiduous
  • #349,472
  • Oct 19, 2013 7:09am Oct 19, 2013 7:09am
Good day,

You are welcome to mark the 2 levels indicated on my chart.

All the best
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdh1.png Size: 69 KB
  • #349,473
  • Oct 19, 2013 7:21am Oct 19, 2013 7:21am
Quoting TauTrader
Good day, You are welcome to mark the 2 levels indicated on my chart. All the best {image}
Thats a funny chart..
  • #349,474
  • Oct 19, 2013 7:42am Oct 19, 2013 7:42am
The 'main' Known event risks this coming week that may influence price direction of this pairing on the knee-jerk reaction and/or longer include UK PSBR data and U.s NFP on tuesday, Uk Boe MPC minutes on wednesday, Uk Boe Gvnr Carney speaking on thursday, and Uk 3rd Qtr Gdp prelim on Friday.

With volatility comes opportunity....so hope they do create some movement either way.

G/L
ex member
  • #349,475
  • Oct 19, 2013 7:54am Oct 19, 2013 7:54am
Quoting TauTrader
Good day, You are welcome to mark the 2 levels indicated on my chart. All the best {image}
Can you explain why all sells?
  • #349,476
  • Oct 19, 2013 7:55am Oct 19, 2013 7:55am
Shutdown over, federal govt reopens, USD stronger...

Shouldnt it be that way?
Great Bodies are Engineered not Born
  • #349,477
  • Oct 19, 2013 8:06am Oct 19, 2013 8:06am
not necessarily - that's probably too simplistic a way to view it and remember that since the 2008 crash we are 'through the looking glass' ..ie black is white and white is black and many of the old certainties have gone/been turned on their head. Despite the temporary budget/debt ceiling deal in Congress - the market reacted to the simultaneous Chinese downgrade of U.s sovereign debt and the fact the whole fiasco may well repeat in Jan/Feb, and the effect it has had and may continue to have on confidence/recovery (employment, gdp and deficit) and fed's calculations of when to taper it's current $85billion/month bond buying programme (money printing / Qe as other wise known.) The continuing deficits/debt situation and legislators' inability to deal with it in U.s erodes confidence in the $.

Anything can happen - trade what you see - not what you think...the market doesn't care what we think.

G/L

Quoting RichLadyFX
Shutdown over, federal govt reopens, USD stronger... Shouldnt it be that way?
ex member
  • #349,478
  • Oct 19, 2013 8:10am Oct 19, 2013 8:10am
Could this be the final shoulder forming for a h&s on the daily?
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd h&s day.jpg Size: 105 KB
  • #349,479
  • Oct 19, 2013 8:11am Oct 19, 2013 8:11am
Quoting Purple
{quote} Thats a funny chart..
It's ok. I used to frown upon things outside of my normal frame of reference too.

All the best
  • #349,480
  • Oct 19, 2013 8:19am Oct 19, 2013 8:19am
Quoting trexy123
{quote} Can you explain why all sells?
Good day to you, trexy123

Because I'm selling?
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