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Cable Update (GBPUSD)

  • #349,521
  • Oct 20, 2013 11:47am Oct 20, 2013 11:47am
For ALL,

Be Carefully for Trade in this Week... Cable will run High Volatile ! :nerd:


Trade Well & Good Luck



http://1.bp.blogspot.com/-YeirmMyg6_...ndster+hi5.gif
Always looking the GREAT, never left GOOD Point...
  • #349,522
  • Edited 12:46pm Oct 20, 2013 12:29pm | Edited 12:46pm
Quoting Tsar
BoE's Broadbent: Rates could rise fair amount before problems Published: Sunday, 20 Oct 2013 | 7:55 AM ET The Bank of England has some leeway to raise record low interest rates without hitting borrowers buying homes with the help of government lending schemes, BoE policymaker Ben Broadbent said on Sunday. http://www.cnbc.com/id/101126889
Carney announced on August 7 that the central bank will not raise interest rates until U.K. unemployment hits 7 percent.
Currently 7.7 long way to go.
With housing bubble this could get ugly real fast.I am bearish overall and I do agree we could test 6260 but then very hard drop.Not closing my shorts

Seeing some real cracks on Euro which is running on very thin ice.Already demonstrations in Italy.
http://rt.com/news/rome-protest-austerity-budget-435/
watch the video its pretty tense
EU Races for Bank-Failure Deal Deadline to Avert Quagmire
worth reading above

Regards
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In trading, you have to be defensive and aggressive at the same time
  • #349,523
  • Oct 20, 2013 1:17pm Oct 20, 2013 1:17pm
No shortage of analysis this w/e lol : - all interesting stuff. http://www.marctomarket.com/2013/10/...ix-points.html

'....There are two major events for the UK in the week ahead. First, the minutes from this month's MPC meeting will be released. It would be a surprise is there was any dissent. Recent comments, however, do suggest there are in fact disagreements below the surface. Under the terms of one person-one vote demands for consensus seems to be a recipe for group think. Of interest may be the MPC's assessment of price pressures. Perhaps Dale's tipped the BOE's hand when he suggested that the increase in sterling could dampen import prices and help boost real incomes.

Second, on Friday the UK will be the first of the G7 to report Q3 GDP figures. The Bloomberg consensus calls for 0.8% increase, which would be the third increases sequentially and lift the year-over-year rate to 1.5% from 1.3% in Q2 and 0.2% in Q1. Despite the economic improvement, we note that he recent Ipsos/Mori polls shows Labour has pulled into a tie with the Tories, while the Lib-Dems have slipped into fourth place behind the UKIP.

Investment implication: Strong data and a BOE that finds virtue in sterling's strength is likely to underpin the currency in the period ahead......'

G/L
ex member
  • #349,524
  • Oct 20, 2013 1:25pm Oct 20, 2013 1:25pm
here's my updated count
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Don't have an ego. Always question yourself and your ability.
  • #349,525
  • Oct 20, 2013 1:55pm Oct 20, 2013 1:55pm
Quoting bbmac
No shortage of analysis this w/e lol : - all interesting stuff. http://www.marctomarket.com/2013/10/...ix-points.html '....There are two major events for the UK in the week ahead. First, the minutes from this month's MPC meeting will be released. It would be a surprise is there was any dissent. Recent comments, however, do suggest there are in fact disagreements below the surface. Under the terms of one person-one vote demands for consensus seems to be a recipe for group think. Of interest may be the MPC's assessment...
I wonder what the rationale of some is that this is going to make it to the swing high again....I just don't see that happening personally.
  • #349,526
  • Oct 20, 2013 2:09pm Oct 20, 2013 2:09pm
GU 1H

Potential ST trade

HP falling wedge:

  1. Entry on Market open
  2. SL 1.615
  3. TP 1.62

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BBL



G/L
  • #349,527
  • Oct 20, 2013 2:16pm Oct 20, 2013 2:16pm
Gidday GBP/US

I held on to GBP/US longs

thinking 162.50

thinking EUR/US has not retraced yet for a breather

if 137 breaks soon

got my longs to 137.5 an 138

Watching them in profit is hard,

but to add more longs at this level feels

like dancing on a tray off eggs with steel capped boots.:nerd:
  • #349,528
  • Oct 20, 2013 2:23pm Oct 20, 2013 2:23pm
EU H1

Pennant

  1. No direction
  2. 38 pips

If this breaks up, it takes GU with it

Attached Image
  • #349,529
  • Oct 20, 2013 2:26pm Oct 20, 2013 2:26pm
Quoting eliteincome
Gidday GBP/US I held on to GBP/US longs thinking 162.50 thinking EUR/US has not retraced yet for a breather if 137 breaks soon got my longs to 137.5 an 138 Watching them in profit is hard, but to add more longs at this level feels like dancing on a tray off eggs with steel capped boots.:nerd:

Euro longs are riskier.Lot of political turmoil now.PA is showing signs of exhaustion.I don't see past 1.3750
In trading, you have to be defensive and aggressive at the same time
  • #349,530
  • Oct 20, 2013 5:07pm Oct 20, 2013 5:07pm
Saw this coming before it broke the range lol.
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  • #349,531
  • Oct 20, 2013 7:05pm Oct 20, 2013 7:05pm
Got my fill...another 7 pip entry before this thing drops on the larger frame.
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  • #349,532
  • Oct 20, 2013 9:46pm Oct 20, 2013 9:46pm
We are heading to 1.60xx levels!
Money never sleeps I can hear the dollar calling me
  • #349,533
  • Oct 20, 2013 10:25pm Oct 20, 2013 10:25pm
maybe maybe maybe....
60% market try for down.........
just wave teory.....
  • #349,534
  • Oct 20, 2013 10:40pm Oct 20, 2013 10:40pm
Hello GBP/US

Trying a short to 161

Must be getting close to having a retrace soon:nerd:
  • #349,535
  • Oct 20, 2013 11:28pm Oct 20, 2013 11:28pm
Yep, looks like trend following will be sucking (again) on cable.
As I couldn't get my 1.6142 buy filled last week, I'm still on my original 1.616 short. Inclined to believe a drop is coming, how far it will drop I dunno as cable has been a trendless currency for the last month or so.
  • #349,536
  • Oct 20, 2013 11:35pm Oct 20, 2013 11:35pm
What's going to happen in GU right now will depend, I believe, on larger issues. Will the dollar or the pound become weaker due to governmental actions?

I don't have the answer to this question. However, if we break up in GU, there is a long way to go to get to that 50% fib retrace.

If we don't break above, we're going down a few hundred pips.
  • #349,537
  • Oct 20, 2013 11:43pm Oct 20, 2013 11:43pm
if you look at the weekly , cable has been consolidation since 2011 that is 2 years of pent up energy when tthis blows topside which it will itwill have a massive move ....its forming a beautiful double bottom base and now is working on a handle.....this will be beautiful to watch ..
  • #349,538
  • Oct 20, 2013 11:51pm Oct 20, 2013 11:51pm
Quoting ninner
if you look at the weekly , cable has been consolidation since 2011 that is 2 years of pent up energy when tthis blows topside which it will itwill have a massive move ....its forming a beautiful double bottom base and now is working on a handle.....this will be beautiful to watch ..
Says who, your magic 8 ball?
  • #349,539
  • Oct 21, 2013 12:02am Oct 21, 2013 12:02am
I hope we all can get a profit.......
  • #349,540
  • Oct 21, 2013 12:20am Oct 21, 2013 12:20am
Quoting sepuluh
maybe maybe maybe.... 60% market try for down......... just wave teory.....
My view is that GU has to break 1.63xx before the turn.
Face both Win and Lose bravely
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