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Cable Update (GBPUSD)

  • #357,381
  • Jan 5, 2014 6:03pm Jan 5, 2014 6:03pm
adding first short at 1.6411 tp 1.6320 personally still expecting some uptrend in this currency, i think this currency is being bought against yen as nzd and bellieve it or the doomed aussie, will add bigger short lots every 60 pips up if it happens.
  • #357,382
  • Jan 5, 2014 9:11pm Jan 5, 2014 9:11pm
Hello to everyone, as we can see to grow up is to early so probabbly first wee see 1.6240, from here i add one more long.
  • #357,383
  • Jan 5, 2014 9:38pm Jan 5, 2014 9:38pm
Quoting Davit
{quote} weekly support is at 6340.I anticipate of it getting touched. Guppy is showing compression on H4 and price broke through it.On daily slow moving averages still support uptrend,good clear separation.In terms of trend is still up however every trend has potential to reverse and that starts on small TF then gets bigger.. I have 7 shorts on GU all in profit but not closing yet. lower yellow box is confluence of 200 and 89 moving averages which correspond with weekly support.So to me its important number. {image}
how about this davit?
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  • #357,384
  • Jan 6, 2014 12:10am Jan 6, 2014 12:10am
Quoting acidguy
{quote} a very bullish move but looking very exhausted, still looking for 1.6480 in some hours to go short big tp 1.6250 area. this situation makes me thing what Warren Buffet says, buy or sell at whathever price it is. applyin harmonics, we just completed "D" at 1.6600 and broke below "B"... {image}
Seems we're going down a lot further.
  • #357,385
  • Jan 6, 2014 12:35am Jan 6, 2014 12:35am
Quoting JimmyC
{quote} Seems we're going down a lot further.

If we go back down through the 6200 area, we'll have entered back into the downtrend from years passed.
  • #357,386
  • Jan 6, 2014 12:51am Jan 6, 2014 12:51am
Headlines in the UK press today quote the Chancellor as saying that things are going to get a lot tougher in a year of hard truths... which is normally followed by 'surprise' news from the fundamentals. Today, for example, we have the services PMI; which may reveal soft lies. Who knows...

And as just expressed on the EU thread, the Dollar appears poised - at the 76.4 mark - to react to not only the ISM Non-Manufacturing PMI, but what I think we can say is the forgone conclusion of appointment of Janet Yellen to the Fed Reserve... reputedly hawkish QE. (Wouldn't it be great if she surprised all later in the year by bringing back a little common sense to the show)

Anyway, I would not be surprised to see Cable jump this morning, before dropping this afternoon. Or, for the contrarians taking the safe stance, the opposite.
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  • #357,387
  • Jan 6, 2014 12:57am Jan 6, 2014 12:57am
Quoting reclude82
{quote} how about this davit? {image}

To me up trend got exhausted and GU is in correction mode.Simple as that.Will it reach newer highs? I have no clue.
Regards
In trading, you have to be defensive and aggressive at the same time
  • #357,388
  • Jan 6, 2014 12:59am Jan 6, 2014 12:59am
Quoting 45Condor
Headlines in the UK press today quote the Chancellor as saying that things are going to get a lot tougher in a year of hard truths... which is normally followed by 'surprise' news from the fundamentals. Today, for example, we have the services PMI; which may reveal soft lies. Who knows... And as just expressed on the EU thread, the Dollar appears poised - at the 76.4 mark - to react to not only the ISM Non-Manufacturing PMI, but what I think we can say is the forgone conclusion of appointment of Janet Yellen to the Fed Reserve... reputedly hawkish...

Nice to see another Guppy fan
In trading, you have to be defensive and aggressive at the same time
  • #357,389
  • Jan 6, 2014 1:01am Jan 6, 2014 1:01am
Quoting Davit
{quote} Nice to see another Guppy fan

...never leave home without them.
Author of: For Pip's Sake! (Available at Amazon... :-) )
  • #357,390
  • Jan 6, 2014 1:49am Jan 6, 2014 1:49am
Looking at 6356 imo if it holds bull pressure would capitalize on taking out 6463 to begin the movement to 1.700. At the moment Downside would be looking at 6254/6146 waiting the break of the day open to continue upward or the break of 6356 to go short. Patience is all it takes
Keep the Lights on then you can catch the rise from the dark.
  • #357,391
  • Jan 6, 2014 2:08am Jan 6, 2014 2:08am
As with anything nothing is certain, I am looking for the break below 1.6350 but I will make sure its confirmed before entry.
  • #357,392
  • Jan 6, 2014 2:57am Jan 6, 2014 2:57am
1.628x area is the key... it might bounce from there to retest 1.66 again or break it and finish the uptrend...
  • #357,393
  • Jan 6, 2014 3:00am Jan 6, 2014 3:00am
Quoting jmss59
few times the price leaves a phase {image}
As commented in this post, the price closed the open phase. Now we look for signs for 2 different scenarios.

1 The price from this area, can reverse or can seek support at 200 mme and starting a new bull leg.
2 The price may continue its downward path and seek support at lower stages.
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  • #357,394
  • Jan 6, 2014 3:29am Jan 6, 2014 3:29am
Services PMI

58.8


going to test 1.6300-1.6280 area
  • #357,395
  • Jan 6, 2014 3:31am Jan 6, 2014 3:31am
Well, SO bad PMI Cha ching! Shorting this s***
  • #357,396
  • Jan 6, 2014 3:37am Jan 6, 2014 3:37am
Quoting RavBRD
Well, SO bad PMI Cha ching! Shorting this s***
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fortis fortuna adiuvat
  • #357,397
  • Jan 6, 2014 3:39am Jan 6, 2014 3:39am
All my shorts 7 of them TP 63
I think I have a good shot of getting hit before NY or during.
In trading, you have to be defensive and aggressive at the same time
  • #357,398
  • Jan 6, 2014 3:42am Jan 6, 2014 3:42am
Quoting Davit
All my shorts 7 of them TP 63 I think I have a good shot of getting hit until NY open.

DAVID i m new here. if u said 63 u would mean 1.630?
  • #357,399
  • Jan 6, 2014 3:46am Jan 6, 2014 3:46am
Quoting cardfight86
{quote} DAVID i m new here. if u said 63 u would mean 1.630?

yes Welcome to FF
In trading, you have to be defensive and aggressive at the same time
  • #357,400
  • Jan 6, 2014 3:57am Jan 6, 2014 3:57am
...and so we dip into the ascending Guppy profile on what is printed in the fundamental news as a bad number that represents a UK maintaining a strong pattern of growth... apparently.



Contrarian to the last... I'm calling long!!! Oh, and also a coffee break.
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