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Cable Update (GBPUSD)

  • #352,581
  • Nov 10, 2013 5:57am Nov 10, 2013 5:57am
Quoting Bones
not a yearly chart is it ,what's your view of this year candle ? {quote} {image}
That's how daily tf dancing within 2012 Fib. 2012 Fib.. drawn fib from hi 2012 to low 2012.

For simplicity to draw regular fibbing within certain period from intraday to yearly...just click hiperlink posted before...mate
not euphoria follower
  • #352,582
  • Nov 10, 2013 6:12am Nov 10, 2013 6:12am
Quoting PipTrapper
{quote} No need to sweet talk me. I'll get it done, but not yet. Pls remind me on Wednesday
  • #352,583
  • Nov 10, 2013 6:15am Nov 10, 2013 6:15am
Hi I you said bullish on q1 ,I see the candle set up ,and I say its false or false until retrace ,
ive looked at yearly
careful with candles in consolidation ,it must break of formation ,what it says on break is much much higher ,and $ is not agreeing to me


Quoting iqyu5an
{quote} That's how daily tf dancing within 2012 Fib. 2012 Fib.. drawn fib from hi 2012 to low 2012. For simplicity to draw regular fibbing within certain period from intraday to yearly...just click hiperlink posted before...mate
Attached Image(s) (click to enlarge)
Click to Enlarge Name: q gbp USD Spot.png Size: 21 KB
Click to Enlarge Name: year gbp usdUSD Spot.png Size: 21 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #352,584
  • Nov 10, 2013 6:26am Nov 10, 2013 6:26am
how about 6 month
Attached Image (click to enlarge)
Click to Enlarge Name: gbp usd 6 month USD Spot.png Size: 23 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #352,585
  • Nov 10, 2013 9:38am Nov 10, 2013 9:38am
Quoting Bones
Hi I you said bullish on q1 ,I see the candle set up ,and I say its false or false until retrace , ive looked at yearly careful with candles in consolidation ,it must break of formation ,what it says on break is much much higher ,and $ is not agreeing to me {quote} {image} {image}
I have a feeling this week will tell the story..people think just because a quarterly is bullish the next quarter will be bullish..like u said..yearly has some way to go its going to turn bullish..it would need to blast 1.63 and at the moment..the pressure is on..

USD is about to put a foot in cables a$%
  • #352,586
  • Nov 10, 2013 10:53pm Nov 10, 2013 10:53pm
Good day to you,

Stops map. Retailers selling heavily into the drop. This may be a bear trap towards 1.6140 / 1.6150. I'm not sure.

If I remove all emotion and only look at the tools I use - I have to remain long for a while still.

Regards and all the best
Attached Image (click to enlarge)
Click to Enlarge Name: Image 1.png Size: 54 KB
  • #352,587
  • Nov 11, 2013 1:15am Nov 11, 2013 1:15am
Gbp/Usd has retail buy stops clustered at 1.6025-30
  • #352,588
  • Nov 11, 2013 1:29am Nov 11, 2013 1:29am
Quoting EmeraldEyes
Gbp/Usd has retail buy stops clustered at 1.6025-30

We just entered a heavy buy demand zone and were rejected. This is 1.6002. It will be interesting to see if we push down through that to 1.5993.
  • #352,589
  • Nov 11, 2013 2:13am Nov 11, 2013 2:13am
Hi everybody! What do u think about short from this level 1.6010 with 1.5930 TP area???
  • #352,590
  • Nov 11, 2013 3:30am Nov 11, 2013 3:30am
Quoting damir1
Hi everybody! What do u think about short from this level 1.6010 with 1.5930 TP area???
regarding whole eco news we have this week, i would be cautious. UK CPI y/y tomorrow, UK unemployment + Carney + inflation report on 13th, Ben +Yellen + UK retail sales + US trade balance + US unemployment on 14th.
  • #352,591
  • Nov 11, 2013 3:58am Nov 11, 2013 3:58am
I have a little bit different yearly chart (2008 huge fall)....
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd_x12monthly.png Size: 55 KB
Anything is math!
  • #352,592
  • Nov 11, 2013 4:07am Nov 11, 2013 4:07am
Quoting Kajos2250
I have a little bit different yearly chart (2008 huge fall).... {image}
Now we wait to see which side will break out first.
In the meantime, just trade the triangle
Attached Image
Those who say it cannot be done should not interrupt those who are doing it
  • #352,593
  • Nov 11, 2013 4:12am Nov 11, 2013 4:12am
Howzit GU!

Macro themes
USD being pumped up by 100k beat on NFP data! Which now brings out the question, when will tapering really start? March 2014 (or market surprise in December)
David Cameron has made some remarks about being happy with the government support of 2000 housing loans, Carney is sticking to his guns around when rates will improve but the market doesn't believe him (yet). Market expects the UK data being positive of late will be very supportive of an earlier than expected increase in rates... If so, The strength in Cable will continue despite the dollars strength...

Events
Bank holidays and a lack of data will keep the trading range tight today coupled to significant CPI data tomorrow, rather leave GU today...

Trading

GU 15

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD15.png Size: 26 KB


At the open of the market a GAP down was targeted by traders confirming 1.6 as key ST support and has been bouncing off resistance @1.60225 and price is trading in this channel without events this picture should continue until the London Fix. At which point who knows perhaps we will visit 1.604

I have no open position and plan not to trade Forex today

Have a great week



G/L
  • #352,594
  • Nov 11, 2013 4:14am Nov 11, 2013 4:14am
Quoting xau
{quote} regarding whole eco news we have this week, i would be cautious. UK CPI y/y tomorrow, UK unemployment + Carney + inflation report on 13th, Ben +Yellen + UK retail sales + US trade balance + US unemployment on 14th.
easier to just look at charts. I wouldn't have a clue what to do with all that news.
  • #352,595
  • Nov 11, 2013 4:28am Nov 11, 2013 4:28am
I can't see interest rates increasing in the UK in the short term. Yes the housing market is doing well in pockets (London, Bath etc) but most normal people have not had a pay rise for nearly 4 years and earning's do not cover inflation. That combined with the usual 10% energy price hikes heading into the winter, so many people are struggling. It is not all quite so wonderful in the UK.

Quoting JimmyC
Howzit GU! Macro themes USD being pumped up by 100k beat on NFP data! Which now brings out the question, when will tapering really start? March 2014 (or market surprise in December) David Cameron has made some remarks about being happy with the government support of 2000 housing loans, Carney is sticking to his guns around when rates will improve but the market doesn't believe him (yet). Market expects the UK data being positive of late will be very supportive of an earlier than expected increase in rates... If so, The strength in Cable will continue...
  • #352,596
  • Nov 11, 2013 4:37am Nov 11, 2013 4:37am
Quoting InNeedOfHelp
I can't see interest rates increasing in the UK in the short term. Yes the housing market is doing well in pockets (London, Bath etc) but most normal people have not had a pay rise for nearly 4 years and earning's do not cover inflation. That combined with the usual 10% energy price hikes heading into the winter, so many people are struggling. It is not all quite so wonderful in the UK. {quote}
Indeed you are correct the real economy doesn't match the market Euphoria, Mark Carney is resolute about what he will do, I'm always cautious when a market maker is being insistent on their guidance, hence my comment about the market not believing him yet. My opinion of late is that central bankers are taking to surprising markets to make their points and assist in their maintaining their policies. When next we hear from him I think he's going to put some effort into knocking the market where he wants it.

G/L
  • #352,597
  • Nov 11, 2013 4:38am Nov 11, 2013 4:38am
Quoting InNeedOfHelp
I can't see interest rates increasing in the UK in the short term. Yes the housing market is doing well in pockets (London, Bath etc) but most normal people have not had a pay rise for nearly 4 years and earning's do not cover inflation. That combined with the usual 10% energy price hikes heading into the winter, so many people are struggling. It is not all quite so wonderful in the UK. {quote}
A very good point. Political and bank driven rhetoric gives us all the impression that we're booming in the UK....
  • #352,598
  • Nov 11, 2013 4:42am Nov 11, 2013 4:42am
Hi

New member here - long time lurker - hope to contribute every now and again....sad to see some good contributers have left the thread recently.

This week will likely be about whether U.s strength continues re tapering expectations in light of stronger than expected NFP, and whether Yellen does anything to dampen that in her confirmation hearings versus anything carney says at Boe Quarterly inflation report re bringing forward Un-employment drop expectations that may trigger rate rise. Trouble is world is addicted to cheap money and propped up by this and Qe so far in this pretty shallow recovery...fragile state of affairs indeed.

Re my username - yeh - it's all gone a bit.....

Best Wishes.
it's all gone a bit........
  • #352,599
  • Nov 11, 2013 5:06am Nov 11, 2013 5:06am
1hr
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdh1.png Size: 73 KB
  • #352,600
  • Nov 11, 2013 5:13am Nov 11, 2013 5:13am
Quoting shellsnail
{quote} I would short on the open if I were you (assuming no gap down) If there's a gap down, limit order at 1.6013 seems like a best bet to me. just my 2 cents.
Are you still long okanemici?

don't have to do so just for the bet I went long at one point too lol (cause I was convinced that it might go up to daily pivot hmmmm)
GBP/USD

Buy 1.60139
Sell 1.60172

Nov 11, 2013 4:38amNov 11, 2013 10:10am

0.2

0.4%

£3.28

3.3
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