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Cable Update (GBPUSD)

  • #360,061
  • Jan 22, 2014 7:09pm Jan 22, 2014 7:09pm
Quoting Ill-b-back
{quote} If we get a 1hr close below 6550, I wouldn't be surprised to see 65

That would be great. Fantastic buying opportunity. Although, I am a little concerned we didn't hit the high, we're just below it, and tomorrow's news is USD news, and if that's good news, I don't see how we go higher.
  • #360,062
  • Jan 22, 2014 7:31pm Jan 22, 2014 7:31pm
Quoting Baggi
{quote} That would be great. Fantastic buying opportunity. Although, I am a little concerned we didn't hit the high, we're just below it, and tomorrow's news is USD news, and if that's good news, I don't see how we go higher.
I've noticed the opposite lately.
Bad US news has seen this pair spike down and good news has seen it spike up.
I interperate this as Risk on/Risk off taking effect. I could be wrong on this, but it came up on my radar.

I'm not a fundy trader, although I do take an interest in what I see as the big picture to help solidify what I am seeing in my chart. I get some background info from Larry Edelson at Uncommon Wisdom.

I don't believe for a second we as retailers are privy to what is actually going on Big Picture fundy wise through the Main Stream Media with this pair until the move is well and truly established.

This is why I really just do charts focussing on weekly and (to some extent), monthly structure.

This tells me what I want to know, although I am only just in this last 6 months starting to really trust it and go with it.

just following my nose right now.

Hope all goes well mate.
Come with me if you want to live....
  • #360,063
  • Jan 22, 2014 7:33pm Jan 22, 2014 7:33pm
Quoting Maso
{quote} I do agree and happy with this beautiful bullish trend. My first tp is above 1.70x and if it breaks 1.72x then 1.80x
Come with me if you want to live....
  • #360,064
  • Jan 22, 2014 7:47pm Jan 22, 2014 7:47pm
G/CAD & G/AUD
  • #360,065
  • Jan 22, 2014 8:08pm Jan 22, 2014 8:08pm
Quoting Baggi
{quote} Today is a better day, as I'll make a little bit of money if I'm stopped out. If I'm not stopped out, I'll make a lot more money. But my stop is pretty tight, so I'll probably get stopped out, unless we just go straight down. But as JimmyC has said before, buy the dips, and he's not the only one who believes that. So I expect dip buying to take out my stop.
Ah well, stopped out at tiny profit. Figures it goes up just far enough to hit my stop.
  • #360,066
  • Jan 22, 2014 8:12pm Jan 22, 2014 8:12pm
Quoting Ken A
Weekly and Monthly Green {image}
H4 Chart with Channel
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD_H4 Black.jpg Size: 951 KB
Always looking the GREAT, never left GOOD Point...
  • #360,067
  • Jan 22, 2014 8:14pm Jan 22, 2014 8:14pm
Cable in H4 Chart... more Detail
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD_H4 White.jpg Size: 392 KB
Always looking the GREAT, never left GOOD Point...
  • #360,068
  • Jan 22, 2014 8:21pm Jan 22, 2014 8:21pm
Quoting Ken A
{quote} Sorry, tt was GBP/CAD Weekly chart
Ken,

Would you like more focus GBP/USD in this thread, please
And many Members more Focus looking for CABLE.


Thank's before...
Always looking the GREAT, never left GOOD Point...
  • #360,069
  • Jan 22, 2014 8:28pm Jan 22, 2014 8:28pm
Quoting Davit
{quote} I just posted a trade my friend based on my system..I have no idea what price can do in the future but based on BB deviations and RSI 8 I think it has sufficient edge for short.You can be 60% wrong and still make money if you keep your losses short and run your winners. notice the patterns That's all. {image}
thanks )))
  • #360,070
  • Jan 22, 2014 11:19pm Jan 22, 2014 11:19pm
I believe quarterly deserves a bit of attention!
Price stopped just around the opening, which in this case corresponds to the yearly and monthly.
But definetly it's a bullish setup, with lower 1.67 area highly probable (was 2011 top).
Attached Image (click to enlarge)
Click to Enlarge Name: cable1.jpg Size: 59 KB


moving deeper, monthly actually already confirmed many prev resistances as support, most important 1.63 and 1.64 area.
Attached Image (click to enlarge)
Click to Enlarge Name: cable2.jpg Size: 109 KB


well... i don't mean we have only to buy and blindly buy cable no matter what!!! this would be stupid indeed, and things can change anytime!
i just think 1.67 is the nearest area to watch, both for those who wants to keep buying and for those who wants to start or increase shorts.

90% of traders use TA, indicators and prediction
  • #360,071
  • Jan 22, 2014 11:19pm Jan 22, 2014 11:19pm
This pair should start moving here pretty soon. We've been in a pretty tight range all day, so whatever direction it ends up moving, I expect a swing the other way first to take out stops.
  • #360,072
  • Jan 22, 2014 11:39pm Jan 22, 2014 11:39pm
Quoting Baggi
{quote} That would be great. Fantastic buying opportunity. Although, I am a little concerned we didn't hit the high, we're just below it, and tomorrow's news is USD news, and if that's good news, I don't see how we go higher.
If its good US news, will the gbp/aud drop?
  • #360,073
  • Jan 23, 2014 12:49am Jan 23, 2014 12:49am
Quoting viitrader
{quote} If its good US news, will the gbp/aud drop?
I don't know why it would affect that pair.
  • #360,074
  • Jan 23, 2014 12:49am Jan 23, 2014 12:49am
Quoting Maso
{quote} I do agree and happy with this beautiful bullish trend. My first tp is above 1.70x and if it breaks 1.72x then 1.80x


You really think THEY will allow this???
  • #360,075
  • Jan 23, 2014 12:52am Jan 23, 2014 12:52am
Quoting Davit
{quote} You are being modest how about stay in the trend to 2.50 once you hit 1.80 then 2 then 2.50! sky is the limit!
MPC Statement. More Fairy Tales re. the UK "Recovery." In reality, rates cannot rise because the UK is the most indebted nation in the world and this will kill any growth...hardly it can rise to 1.71 .they cannot sustain above 1.71
  • #360,076
  • Jan 23, 2014 12:53am Jan 23, 2014 12:53am
im officially a bullish bear !!!
  • #360,077
  • Jan 23, 2014 12:55am Jan 23, 2014 12:55am
Quoting rambo12
{quote} MPC Statement. More Fairy Tales re. the UK "Recovery." In reality, rates cannot rise because the UK is the most indebted nation in the world and this will kill any growth...hardly it can rise to 1.71 .they cannot sustain above 1.71


My G/CHF short is doing fine +22 pips and counting
In trading, you have to be defensive and aggressive at the same time
  • #360,078
  • Jan 23, 2014 1:00am Jan 23, 2014 1:00am
Quoting Davit
{quote} Come on brother we are going to 2008 high! Why not after all every fundamental criteria are exactly the same. my G/CHF short is doing fine +22 pips and counting No wait! We are in Bullish trend!

This is very confusing.

You believe 22 pip correction to a trend reverses that trend?

Please explain.
  • #360,079
  • Jan 23, 2014 1:05am Jan 23, 2014 1:05am
Hello GBP/US

CNBC Money channel talking 1.58

this year

You guys talking 171
  • #360,080
  • Jan 23, 2014 1:06am Jan 23, 2014 1:06am
Every correction has a potential to reverse a trend.Trend changes at lower TF
In trading, you have to be defensive and aggressive at the same time
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