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Cable Update (GBPUSD)

  • #351,881
  • Nov 5, 2013 9:32am Nov 5, 2013 9:32am
I guess F daily close will tell us ,break the daily high = very easy trading
usdlfx


Quoting fontu
{quote} May be but seems not yet , last leg up not broken yet . more ranges need happen before bull set up in action. extra-ordinary crazy can take the extension wave up by force though . fontu . {image}
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #351,882
  • Nov 5, 2013 9:33am Nov 5, 2013 9:33am
the lfx market is like a time machine ,I have been told by good sources ,look at eu d1

also candles cleaner if you want to learn


Quoting Bones
if this prints its a very powerful high prob set up {quote} {image}
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #351,883
  • Nov 5, 2013 9:43am Nov 5, 2013 9:43am
Quoting Bones
the lfx market is like a time machine ,I have been told by good sources ,look at eu d1 also candles cleaner if you want to learn {quote}
Where do you get your LFX charts?
Those who say it cannot be done should not interrupt those who are doing it
  • #351,884
  • Nov 5, 2013 9:43am Nov 5, 2013 9:43am
Quoting ravenbg
Break below 6015 will take us shorts to below 5950.

for now R2 intraday @ 6024 is holding as support

shall see................
Don't give up
  • #351,885
  • Nov 5, 2013 9:50am Nov 5, 2013 9:50am
Quoting geomink
{quote} for now R2 intraday @ 6024 is holding as support shall see................

possible strong bullish pinbar @ H1 formed

shall see the hourly closes
Don't give up
  • #351,886
  • Nov 5, 2013 10:00am Nov 5, 2013 10:00am
Quoting geomink
{quote} possible strong bullish pinbar @ H1 formed shall see the hourly closes
Yes that is the 6015/20 resistance turned support.
Same (except bearish) pinbar appearing on USD
It is the London Fix (Rate manipulation) event.
Those who say it cannot be done should not interrupt those who are doing it
  • #351,887
  • Nov 5, 2013 10:00am Nov 5, 2013 10:00am
bye bye bears
Don't give up
  • #351,888
  • Nov 5, 2013 10:05am Nov 5, 2013 10:05am
Quoting geomink
bye bye bears
For the scalping bears. yes.
Those who say it cannot be done should not interrupt those who are doing it
  • #351,889
  • Nov 5, 2013 10:41am Nov 5, 2013 10:41am
Quoting PipTrapper
{quote} For the scalping bears. yes.
Sigtrader4 has LFX charts.
  • #351,890
  • Nov 5, 2013 11:01am Nov 5, 2013 11:01am
Quoting Luther
{quote} Sigtrader4 has LFX charts.
Thanks. Got it
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Those who say it cannot be done should not interrupt those who are doing it
  • #351,891
  • Nov 5, 2013 11:28am Nov 5, 2013 11:28am
Quoting Luther
{quote} LFX is good. I prefer their weighted average to the standard DX.
Yes the USDLFX is almost exactly the same as the USDOLLAR Index (Not the DXY) which is weighted evenly against a basket of G10 currencies rather than mostly vs the Euro.

USDLFX
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USDOLLAR
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Those who say it cannot be done should not interrupt those who are doing it
  • #351,892
  • Nov 5, 2013 11:40am Nov 5, 2013 11:40am
Quoting PipTrapper
{quote} Yes the USDLFX is almost exactly the same as the USDOLLAR Index (Not the DXY) which is weighted evenly against a basket of G10 currencies rather than mostly vs the Euro. USDLFX {image} USDOLLAR {image}
Exactly.

I went to edit my post to clarify that point (and somehow ended up deleting it completely) but I see you already got it.
  • #351,893
  • Nov 5, 2013 12:06pm Nov 5, 2013 12:06pm
Reentering shorts again on my favorite pair GC
Price is on my SELL zone upper channel
Target 700 tips lower 60'sh.
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In trading, you have to be defensive and aggressive at the same time
  • #351,894
  • Nov 5, 2013 12:19pm Nov 5, 2013 12:19pm
For GBPUSD I'm thinking a possible pullback to 1.600 or lower and then we could go to 6115 next.

The only two things I see driving GBP lower than that would be an EU rate cut or NFP. The USD is up against the resistance from last August, so we need something big to break it. Either of those could do it, then GBPUSD could drop to the 5700 support. I don't think the GBP Manufacturing number would be enough to move price down after GBP PMI made a 16 year high, so the Pound remains strong.

If we don't get something that breaks the USD Daily resistance, then it could go down to test the October 14 support and GBPUSD will continue higher. Either way, it's going to be a busy week.
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  • #351,895
  • Nov 5, 2013 12:35pm Nov 5, 2013 12:35pm
Quoting Luther
For GBPUSD I'm thinking a possible pullback to 1.600 or lower and then we could go to 6115 next. The only two things I see driving GBP lower than that would be an EU rate cut or NFP. The USD is up against the resistance from last August, so we need something big to break it. Either of those could do it, then GBPUSD could drop to the 5700 support. I don't think the GBP Manufacturing number would be enough to move price down after GBP PMI made a 16 year high, so the Pound remains strong. If we don't get something that breaks the USD Daily resistance,...

Luther
I am happy to say that I like that you combine your thinking fundamentals plus chart technicals.Lot of traders either all fundies or all Technicals
I believe you need both.Little cluster that you put in box is just a speed bump.Not significant in my opinion.
Regards
In trading, you have to be defensive and aggressive at the same time
  • #351,896
  • Edited 1:10pm Nov 5, 2013 12:54pm | Edited 1:10pm
Quoting Davit
{quote} Luther I am happy to say that I like that you combine your thinking fundamentals plus chart technicals.Lot of traders either all fundies or all Technicals I believe you need both.Little cluster that you put in box is just a speed bump.Not significant in my opinion. Regards

Thanks David. I agree that cluster isn't significant. The 5982 support is a stronger area, but if we don't get much of a pullback in Asia or early Europe, it's something I'm keeping an eye on since we also bounced there on Oct. 30th and it's just below 1.600 and 50% of today's move up.
  • #351,897
  • Nov 5, 2013 1:36pm Nov 5, 2013 1:36pm
For the hopeful amongst us that wish to see a rise in Sterling...
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Author of: For Pip's Sake! (Available at Amazon... :-) )
  • #351,898
  • Nov 5, 2013 1:40pm Nov 5, 2013 1:40pm
Cable has, unfortunately, yet to convince me that it wishes to push north from this region... but the signs as depicted by the Guppy profile look promising. (Let's hope there are no upsets in the big-bond markets.)
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Author of: For Pip's Sake! (Available at Amazon... :-) )
  • #351,899
  • Nov 5, 2013 2:09pm Nov 5, 2013 2:09pm
Davit, how much further up will GC go?
  • #351,900
  • Nov 5, 2013 2:10pm Nov 5, 2013 2:10pm
oooooooooooo man why cant cable should do what i think
damn thing is looking to kill us again
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