Cable Update (GBPUSD) | Page 17582 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

GBP/USD

Similar Threads

Cable Update - Continued 118 replies

Cable Update (GBP/USD) without Idiots 25 replies

cable short for gbpusd? 10 replies

Why is GBPUSD called cable? 76 replies

Cable (GBPUSD) vs Euro (EURUSD) 31 replies

Attachments: Cable Update (GBPUSD)
Exit Attachments

Cable Update (GBPUSD)

  • #351,621
  • Nov 2, 2013 2:13am Nov 2, 2013 2:13am
The support level 1.59220 has been tested 14 times with no break through.
Now unless something changes the GBP will hang around this level then a
strong push to the up side. My thoughts are there this is strong support level
and a return to the upside is most likely as now at weekly extension low level 3
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdh4.png Size: 87 KB
  • #351,622
  • Nov 2, 2013 2:20am Nov 2, 2013 2:20am
Quoting smokey22
The support level 1.59220 has been tested 14 times with no break through. Now unless something changes the GBP will hang around this level then a strong push to the up side. My thoughts are there this is strong support level and a return to the upside is most likely as now at weekly extension low level 3 {image}
Hey Smokey,

great analys and chart

my view is similar at yours

my doubt is if cable will push to the up immediately at the sunday re-open, or if it will test new lows before

what's your opinion about it?

many thx
Don't give up
  • #351,623
  • Nov 2, 2013 3:04am Nov 2, 2013 3:04am
Good day to you,

http://www.forexfactory.com/showthre...47#post7036847

Called a useless chart at the time..

All the best

Regards
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdh4.png Size: 66 KB
  • #351,624
  • Nov 2, 2013 3:09am Nov 2, 2013 3:09am
Hi Geomik,

A good indication to the future is what has happen in the past.
If we look too the left on the chart you will see it stayed at this
level for 4/5 days. This may happen again, but the under lying
thing is trend direction. My thoughts are this trade will turn long.
It will test this level to see if see how strong the support is and
return to the up side. Expect to see a tug of war here.
  • #351,625
  • Nov 2, 2013 3:54am Nov 2, 2013 3:54am
Quoting smokey22
Hi Geomik, A good indication to the future is what has happen in the past. If we look too the left on the chart you will see it stayed at this level for 4/5 days. This may happen again, but the under lying thing is trend direction. My thoughts are this trade will turn long. It will test this level to see if see how strong the support is and return to the up side. Expect to see a tug of war here.
Ok Smokey

A last thing: already tested multiple times, probability of breaking increase??

A bit concerned about it
Don't give up
  • #351,626
  • Nov 2, 2013 4:01am Nov 2, 2013 4:01am
yes could brake through.
I'm not running the banks...

Until it shows me it has strength to push down to lower levels
I will watch for up side movement.
  • #351,627
  • Nov 2, 2013 4:18am Nov 2, 2013 4:18am
The GBP is in a 300 pip range and has not broken in either direction
until something happens out side this it still range bound.
  • #351,628
  • Nov 2, 2013 4:19am Nov 2, 2013 4:19am
Quoting smokey22
yes could brake through. I'm not running the banks... Until it shows me it has strength to push down to lower levels I will watch for up side movement.
The same


do you think we'll see anthing of interesting just at the sunday re-open or more probably while monday?
Don't give up
  • #351,629
  • Nov 2, 2013 4:51am Nov 2, 2013 4:51am
I'm in Australia and Monday is our opening time.
This is the Asian session and good time to catch up on some sleep
as the volume is low. Until the UK opens don't expect much action.

No standouts of other currency at the moment
  • #351,630
  • Nov 2, 2013 4:51am Nov 2, 2013 4:51am
at this point high prob set up w1 , and d1 ,range will break very easy imo ,with little retrace ,these conditions are brill this puppy comes down fast from this area
add up what youve seen this week to figure out where the banks are
Attached Image (click to enlarge)
Click to Enlarge Name: USD Spot.png Size: 39 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #351,631
  • Nov 2, 2013 5:09am Nov 2, 2013 5:09am
omg
Attached Image
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #351,632
  • Nov 2, 2013 5:12am Nov 2, 2013 5:12am
Bullish ?

Quoting Bones
gbp monthly {image}
Attached Image (click to enlarge)
Click to Enlarge Name: GBPLFXMonthly 2-11-13.png Size: 22 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #351,633
  • Nov 2, 2013 5:17am Nov 2, 2013 5:17am
USD IS BULLISH ,
bearish low tf traders will be blinkered and battered


Quoting Bones
USDX is bullish do not expect fail ,also clock monthly {quote} {image}
Attached Image (click to enlarge)
Click to Enlarge Name: usdxweekly 2-11-13.png Size: 26 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #351,634
  • Edited 6:49am Nov 2, 2013 6:48am | Edited 6:49am
With the USD looking bullish, and the GBP/USD rolling over, it is interesting to monitor the markets as a whole at these toppy levels. As the market is on the verge of risk aversion, it is interesting to see how the cross pairs of the GBP and EUR react in such a RISK AVERSE scenario. Such as GBP/CAD , GBP/AUD, GBP/NZD...... EUR/AUD, EUR/CAD, EUR/NZD. While the markets soared and climbed to these heights during the BULL RUN.... each of these got beaten down mercilessly. Now notice the month and week charts of each of these. Interesting. Much opportunity in front of our eyes as this Top Heavy market is ready to roll and plunge.
  • #351,635
  • Nov 2, 2013 6:59am Nov 2, 2013 6:59am
Quoting KillerWhale
{quote} I've never heard of a H&S with 2 heads.
I like to invent patterns...

These two got my back.
Attached Image
Don't have an ego. Always question yourself and your ability.
  • #351,636
  • Nov 2, 2013 7:18am Nov 2, 2013 7:18am
Quoting RamsesII
{quote} I like to invent patterns... These two got my back. {image}
Those who say it cannot be done should not interrupt those who are doing it
  • #351,637
  • Nov 2, 2013 8:16am Nov 2, 2013 8:16am
Again whist price has closed near support ... bears have been very angry


Quoting Bones
EU has a good lateral line I think also 61.8 retrace {image} {image}
Attached Image (click to enlarge)
Click to Enlarge Name: eur USD Spot.png Size: 45 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #351,638
  • Nov 2, 2013 8:27am Nov 2, 2013 8:27am
Howzit!

GU Monthly

The conventions on trend are occasionally quite overcomplicated by traders, I read Dow Theory a while back and the thinking there is... The trend is intact until absolutely disproved. This needs to be viewed in-line with your TF so read what I say next in light of the Monthly TF.

I used two Fib retraces (Nov 2007 - Jan 2009 Major down trend) and then looked at (Jan 2009 to August 2009)

  1. There is obvious oblique resistance Aug 2009 to Nov 13
  2. Its held 5 times and the last holds @23.60 Fib (Interesting?)
  3. Support has dropped most recently from the 50% Fib to 61.80% (July 2013)

Once these sorts of levels are being respected I think the argument for upside is quite moot, we would need support @ above 1.621 to hold over many months before we could in-fact say we have a strong case for trend reversal to the upside.

Any other thoughts?

G/L

Attached Image (click to enlarge)
Click to Enlarge Name: MGBPUSD.png Size: 26 KB
  • #351,639
  • Nov 2, 2013 8:38am Nov 2, 2013 8:38am
close enough is good enough for the Canadians ,this is happy to zip back and forth within consolidation zone
Cad is bullish
prob tweezer /engulfing on monthly close


Quoting Bones
Cad is a twister and turner ,aud much nicer {quote} {image}
Attached Image (click to enlarge)
Click to Enlarge Name: cadlfxmonthly 2-11-13.png Size: 36 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #351,640
  • Nov 2, 2013 8:42am Nov 2, 2013 8:42am
negative monthly candle next to res trendline /pivot


Quoting JimmyC
Howzit! GU Monthly The conventions on trend are occasionally quite overcomplicated by traders, I read Dow Theory a while back and the thinking there is... The trend is intact until absolutely disproved. This needs to be viewed in-line with your TF so read what I say next in light of the Monthly TF. I used two Fib retraces (Nov 2007 - Jan 2009 Major down trend) and then looked at (Jan 2009 to August 2009) There is obvious oblique resistance Aug 2009 to Nov 13 Its held 5 times and the last holds @23.60 Fib (Interesting?) Support has dropped most recently...
On-site guru & also FF member's' psychiatrist, when not drinking tea
482 traders viewing now