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Cable Update (GBPUSD)

  • #359,661
  • Jan 21, 2014 9:46am Jan 21, 2014 9:46am
Quoting shon9178
anyone know what just made it shoot up?....
The easiest Resistance or Support or Pivot Point.
When PRICE can't penetrate, would turn counterclockwise.

The other Supply Demand. The difficult about Volume.
And etc... I can't tell it One by One

It's ALL about Technical Analyst [TA] and another Fundamental.
Always looking the GREAT, never left GOOD Point...
  • #359,662
  • Jan 21, 2014 9:52am Jan 21, 2014 9:52am
Price is testing previous resistance turned support. If it doesn't hold then this spike up was a stop hunt/bull headfake, which also mean the bear will come out in force. We'll see after a few more hours. I put a sell stop at 1.6450 just in case it decides to tank when I'm not around.
  • #359,663
  • Jan 21, 2014 10:00am Jan 21, 2014 10:00am
Quoting Kajos2250
{quote} Nice reference point Have you never use pivots?
Almost 2 Years... I never used Pivot Point again
B'cause Calculation not Perfect. Need to know Broker time's.

I more like Support Resistance & Supply Demand to used TRADE.
About S/R... I can draw it manually. I have BASIC Learned Trade is Candle & Support Resistance first.

I don't remember where's PIVOT POINT indicator in my HD.
Btw... please take a look (just Click it) FINGER CLIP in GBP/USD and EUR/USD thread's.
I shared many Indicators in there, Pivot Point included.
Always looking the GREAT, never left GOOD Point...
  • #359,664
  • Jan 21, 2014 10:03am Jan 21, 2014 10:03am
Why do the longer term bears here think this pairing gbpusd is bearish ? Technically it doesn't look bearish on daily or weekly and hasn't for some considerable time, and fundamentally;

1. Eur could have more/ some QE - still in no growth/recessionary period.
2. Uk likely to grow most of all western/major economies in 2014, Qe well and truly over, and most likely to see a rate rise first of all western/major economies...and getting to grips with deficit etc.
2. Japan in ' abenomics ' reflation experiment
4. U.s still in Qe and addicted to spending.

What about that is fundamentally bearish for this pairing ?

I am not saying there will not be moves down in what has to be a higher probability of more gains for this pairing, how ever you look at it right now (things could change) - technically or fundamentally.

?

Best Wishes.
it's all gone a bit........
  • #359,665
  • Jan 21, 2014 10:09am Jan 21, 2014 10:09am
Quoting Tsar
{quote} Almost 2 Years... I never used Pivot Point again B'cause Calculation not Perfect. Need to know Broker time's. I more like Support Resistance & Supply Demand to used TRADE. About S/R... I can draw it manually. I have BASIC Learned Trade is Candle & Support Resistance first. I don't remember where's PIVOT POINT indicator in my HD. Btw... please take a look FINGER CLIP GBP/USD and EUR/USD thread's I shared many Indicators in there...
The Weekly and Monthly pivots are not so sensitive to the btokers GMT as i know. They are zones.
I will peruse it! But i like indicators developed by me, becaouse i can use them if i can know what they count.
Otherwise Niel Fuller is my favourite PA trader
Anything is math!
  • #359,666
  • Jan 21, 2014 10:21am Jan 21, 2014 10:21am
Quoting petetong
Why do the longer term bears here think this pairing gbpusd is bearish ? Technically it doesn't look bearish on daily or weekly and hasn't for some considerable time, and fundamentally; 1. Eur could have more/ some QE - still in no growth/recessionary period. 2. Uk likely to grow most of all western/major economies in 2014, Qe well and truly over, and most likely to see a rate rise first of all western/major economies...and getting to grips with deficit etc. 2. Japan in ' abenomics ' reflation experiment 4. U.s still in Qe and addicted to spending....
Very well put.
Finally someone who makes sense on this thread.

Trade well.
Hear the music before the song is over ...
  • #359,667
  • Edited 10:44am Jan 21, 2014 10:32am | Edited 10:44am
Quoting GlobalMacro
{quote} Very well put. Finally someone who makes sense on this thread. Trade well.
i hope you still have fridays chart, i have posted a couple today,lot of talk about a big drop, i am just looking to go long again, the 200 sma on 4 h seems to be the support, i have 3 longs sl is pulled up now 2 in profit 1 nearlly BE from friday
  • #359,668
  • Jan 21, 2014 10:53am Jan 21, 2014 10:53am
Time to sell again , let see if we can close below 1.6450
Attached Image (click to enlarge)
Click to Enlarge Name: daily1.png Size: 32 KB
  • #359,669
  • Jan 21, 2014 10:54am Jan 21, 2014 10:54am
Quoting -sonny-
Time to sell again , let see if we can close below 1.6450 {image}
You said to sell again, however the news tomorrow will be bullish for the gbp most likely!
I wish I could time travel, I'd be "very" rich
  • #359,670
  • Jan 21, 2014 10:56am Jan 21, 2014 10:56am
Quoting GlobalMacro
{quote} Very well put. Finally someone who makes sense on this thread. Trade well.
Sir,

You seem long biased and will only acknowledge posts reflecting such.

It's all good.

But sad at the same time.

Regards
  • #359,671
  • Jan 21, 2014 11:05am Jan 21, 2014 11:05am
Quoting petetong
Why do the longer term bears here think this pairing gbpusd is bearish ? Technically it doesn't look bearish on daily or weekly and hasn't for some considerable time, and fundamentally; 1. Eur could have more/ some QE - still in no growth/recessionary period. 2. Uk likely to grow most of all western/major economies in 2014, Qe well and truly over, and most likely to see a rate rise first of all western/major economies...and getting to grips with deficit etc. 2. Japan in ' abenomics ' reflation experiment 4. U.s still in Qe and addicted to spending....

Long term technically it may not have turned but it's definitely looking heavy, especially on the weekly. There doesn't seem much more room even if we do have a continuation I believe it will be the last leg up. Fundamentally, how much has been priced into the market already?

You could say the daily has a head and shoulders pattern if your in to that. I wouldn't trade it as not convincing but just putting it out there.

Just my opinion and everyone has one. I'm not in a long term position on this pairing as neither direction seems convincing to me at the moment. I think theres better positions in other pairs.

Best wishes to you.
Attached Image (click to enlarge)
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  • #359,672
  • Jan 21, 2014 11:07am Jan 21, 2014 11:07am
Quoting elbert3
{quote} i hope you still have fridays chart, i have posted a couple today,lot of talk about a big drop, i am just looking to go long again, the 200 sma on 4 h seems to be the support, i have 3 longs sl is pulled up now 2 in profit 1 nearlly BE from friday
Keep them, bulls going strong, looking good.
Hear the music before the song is over ...
  • #359,673
  • Jan 21, 2014 11:14am Jan 21, 2014 11:14am
Good day,

Committed short on 4hr. Deep red at the moment.

Should give positive result

Regards
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdh4.png Size: 76 KB
  • #359,674
  • Jan 21, 2014 11:16am Jan 21, 2014 11:16am
Quoting TauTrader
{quote} Sir, You seem long biased and will only acknowledge posts reflecting such. It's all good. But sad at the same time. Regards
Mr. T,

It's the market that has a bullish bias.

All I'm doing is follow the market. And when this is supported by fundamentals all the better.

Trade well, Sir.
Hear the music before the song is over ...
  • #359,675
  • Jan 21, 2014 11:19am Jan 21, 2014 11:19am
weekly I can't loose this opportunity for a 600 to 1000 pips down , especially if euro go under 1.35 it open the door for 1.31... 1.27
Attached Image (click to enlarge)
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  • #359,676
  • Jan 21, 2014 11:20am Jan 21, 2014 11:20am
Quoting TauTrader
Good day, Committed short on 4hr. Deep red at the moment. Should give positive result Regards {image}
DXY 4H

Showing signs of weakness

Specific strat rising wedge bearish reversal 1st target hit second target ? 8086 showing signs of failing but it could be a real pain in the a$$

Good Luck
Attached Image (click to enlarge)
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  • #359,677
  • Jan 21, 2014 11:22am Jan 21, 2014 11:22am
Quoting -sonny-
weekly I can't loose this opportunity for a 600 to 1000 pips down , especially if euro go under 1.35 it open the door for 1.31... 1.27 {image}
Dude! its like an acid trip... how do you work out whats happening

Just my 2c - can't read your chart sorry

Good luck all the same
  • #359,678
  • Jan 21, 2014 11:35am Jan 21, 2014 11:35am
Quoting GlobalMacro
{quote} Mr. T, It's the market that has a bullish bias. All I'm doing is follow the market. And when this is supported by fundamentals all the better. Trade well, Sir.
You are correct , sir

I'm out of line.

I wish you many positive trades.

All the best to you

Regards
  • #359,679
  • Jan 21, 2014 11:37am Jan 21, 2014 11:37am
Quoting Ken A
{quote} Your U/CAD shorts looking good atm
No shorts

Closed them a while ago again..

I'm lost..

Regards
  • #359,680
  • Jan 21, 2014 11:41am Jan 21, 2014 11:41am
Quoting JimmyC
{quote} Dude! its like an acid trip... how do you work out whats happening Just my 2c - can't read your chart sorry Good luck all the same
a move up to 1.67 - 1.68 is possible but what if the move down start now and you buy it at the top ?, I will sell everything until at least 1.58 , 1.53 will be great :-)
Attached Image (click to enlarge)
Click to Enlarge Name: week2.png Size: 47 KB
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