Attachments: Cable Update (GBPUSD)

Cable Update (GBPUSD)

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#360,741
Jan 26, 2014 2:34am Jan 26, 2014 2:34am

digger1
Joined Jan 2010 | Status: The Voodoo Boodoo Club | 42,050 Posts

Quoting PoundTrader

Disliked

just found out the world wants the dollar to crash this year, the dollar is in a major downtrend across all pairs there is no way im going short untill i get a confirm trend

Ignored

Lol, that's nothing new, been like that forever. Its still here inspite of our so called leaders of the treasury and the central bankers best attempts to kill it. I mean they are all great actors , they can go on national tv and say with a strait face they would like a strong dollar. I guess its good tho , they create bubbles which burst which makes volatility which gives us market movement which can generate a few shekels for traders . The trickle down theory in a round about way.

#360,742
Jan 26, 2014 2:35am Jan 26, 2014 2:35am

Ill-b-back
Joined May 2011 | Status: Get to the Chopper | 17,905 Posts

Quoting PoundTrader

Disliked

just found out the world wants the dollar to crash this year, the dollar is in a major downtrend across all pairs there is no way im going short untill i get a confirm trend

Ignored

My readings tell me this is not about Pound strength but $ weakness.
Devaluing currency to pay off debt currently at about 105 percent GDP vs about 87 percent for UK and Cyprus style policies coming to US shores.
Not good...

Come with me if you want to live....

#360,743
Jan 26, 2014 2:37am Jan 26, 2014 2:37am

PoundTrader
Joined Sep 2010 | Status: Life Time Member | 6,685 Posts

Quoting Ill-b-back

Disliked

{quote} My readings tell me this is not about Pound strength but $ weakness. Devaluing currency to pay off debt currently at about 105 percent GDP vs about 87 percent for UK and Cyprus style policies coming to US shores. Not good...

Ignored

yes sir, it's a dollar thing nothing else

#360,744
Jan 26, 2014 2:58am Jan 26, 2014 2:58am

monkey@forex
| Joined Aug 2010 | Status: Trader | 332 Posts

If inflation is on its way up (slowly) but increasing interest rates hampers growth, the only other way to battle inflation is to let cable appreciate...this makes imports cheaper...as US and Europe are deflating, the pound appreciating helps their exports...Iv never studied economics, so it may not be as simple as that!

i think next year when Japan cannot pay its debts, the taper or non taper no longer improves worsening USA data, and god knows what the truth is in china, that's when the crap hits the fan and we'll go back into recession or risk on/off environment again...

right now euro and cable are not printing so they have scope to appreciate

#360,745
Edited 11:45am Jan 26, 2014 3:27am | Edited 11:45am

PayTheLimit
Joined Aug 2009 | Status: Ride the Pig | 31,271 Posts

Quoting PayTheLimit

Disliked

maybe near 6469 a place to look for some cheap longs..

Ignored

make it 6463, risk 6448..try for 6523..

Look Sharp/Trade Tight

#360,746
Jan 26, 2014 4:50am Jan 26, 2014 4:50am

_BBKing_
Joined Apr 2010 | Status: Today is my first trading day! | 9,452 Posts

Quoting pcca-matrix

Disliked

{quote} hi BBKing, i can't set fixed Period for my MA indicator , it's a real adaptive MA , only range can be set (11-61 in my chart). in accordance with volatility and other factors, it choose the best MA in the range to use at each new candle. but i put a 65 expo on my chart and it seems interesting , i keep an eye on Thanks

Ignored

yes the 65exp is good, i use it many times in combination with my study. problems come during range (as always) and indeed it can't simply be used in automated! so the "adaptive way" sounds far better in this last case. i'm trying to define a way for a strategy to detect when price starts ranging, but that's not much simple. will probably have to look into currencies strength/weakness and get the most relevant ratio.
example: a super weak CAD and super strong GBp, strategy will only get those forgetting anything else.....

90% of traders use TA, indicators and prediction

#360,747
Jan 26, 2014 6:54am Jan 26, 2014 6:54am

pcca-matrix
| Joined Nov 2012 | Status: Trader | 202 Posts

Quoting _BBKing_

Disliked

{quote} yes the 65exp is good, i use it many times in combination with my study. problems come during range (as always) and indeed it can't simply be used in automated! so the "adaptive way" sounds far better in this last case. i'm trying to define a way for a strategy to detect when price starts ranging, but that's not much simple. will probably have to look into currencies strength/weakness and get the most relevant ratio. example: a super weak CAD and super strong GBp, strategy will only get those forgetting anything else.....

Ignored

that is on what my EA is based , it detects the periods of range/trend by the strength of the currency,
it takes care about technical and fundamental analysis and use a simple adaptive MA as filter, you can see the results on my trade explorer.
Risk is set to 1% ,it is not backtestable and still takes time to be adjusted.

#360,748
Edited 12:58pm Jan 26, 2014 7:48am | Edited 12:58pm

Hotkqash
| Joined Oct 2013 | Status: ILLUMINATED! | 156 Posts

if the whole world thinks the UK`s economy is on a roll but the man at the helm of the pounds affairs says he won`t be hiking rates and that a strong pound would hurt export, and the chart is dangling from a height as we see,won`t you rather be a BEAR?

on the weekly chart we have a handful of reversal candles partying @ the top,switch on your street IQ...and remember that CANDLES EXHAUST THEMSELVES TO GIVE LIGHT TO MEN( if candles give light to men,they should give more light to TRADING-Men).

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#360,749
Jan 26, 2014 8:01am Jan 26, 2014 8:01am

nAVIN2007
Joined Dec 2007 | Status: mac daddy junior :) | 20,899 Posts

Quoting Hotkqash

Disliked

if the whole world thinks the UK`s economy is on a roll but the man at the helm of the pounds affairs says he won`t be hiking rates and that a strong pound would hurt export, and the chart is dangling from a height as we see,won`t you rather be a BEAR? on the weekly chart we have a hand fool of reversal candles partying @ the top,switch on your street IQ...and remember that CANDLES EXHAUST THEMSELVES TO GIVE LIGHT TO MEN( if candles give light to men,they should give more light to TRADING-Men). {image}

Ignored

good analysis..but i doubt it will have a double top..-ve divergence will play its part...

#360,750
Edited 9:30am Jan 26, 2014 9:14am | Edited 9:30am

Capelli
Joined Apr 2013 | Status: Trader | 906 Posts

Quoting Ill-b-back

Disliked

{quote} My readings tell me this is not about Pound strength but $ weakness. Devaluing currency to pay off debt currently at about 105 percent GDP vs about 87 percent for UK and Cyprus style policies coming to US shores. Not good...

Ignored

Damn right! Its a currency war and they are all playing it. The Question is who will really succeed in devaluating their currency and who will be stuck with a strong currency and bad exports.

#360,751
Jan 26, 2014 9:30am Jan 26, 2014 9:30am

Bluescalper
| Joined Jun 2010 | Status: Trader | 148 Posts

I don't have any open trades on cable but it is interesting how the chart is developing

(a) Bearish pressure Friday's high
(b) Bearish engulfing candle on Daily, looks like more down move to come targeting 1.6367( will see how the week starts ). In the meantime i am standing away from cable.

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#360,752
Jan 26, 2014 10:15am Jan 26, 2014 10:15am

PhAnTi'
Joined Aug 2010 | Status: Tööröh | 14,292 Posts

Quoting Bluescalper

Disliked

I don't have any open trades on cable but it is interesting how the chart is developing (a) Bearish pressure Friday's high (b) Bearish engulfing candle on Daily, looks like more down move to come targeting 1.6367( will see how the week starts ). In the meantime i am standing away from cable. {image}

Ignored

too late to sell, too expensive to buy... I stay flat

trend still up though

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Best,
Jonas

Hero calls followed by margin calls...

#360,753
Jan 26, 2014 10:19am Jan 26, 2014 10:19am

PoundTrader
Joined Sep 2010 | Status: Life Time Member | 6,685 Posts

Quoting PhAnTi'

Disliked

{quote} too late to sell, too expensive to buy... I stay flat trend still up though {image} Best, Jonas

Ignored

i agree, best thing to do is wait till another push either way, just have to make sure you get in at the right time

#360,754
Jan 26, 2014 10:25am Jan 26, 2014 10:25am

Davit
Joined Feb 2012 | Status: Trader | 21,377 Posts

Quoting PoundTrader

Disliked

{quote} i agree, best thing to do is wait till another push either way, just have to make sure you get in at the right time

Ignored

Wait I thought there is no such a thing as too high or too low in forex

If this is a Bear movement then we are in 5yr high top range targeting 60 -58 that's at least 500pips and if going higher then 67-6750 2011 high as major Resistance that's another 300pips....and if broken put your seat belts on.
Anyway funny how aggressive bulls say "its too expensive" It was only last Thurs folks were buying at 6550-75 and 66.If you thought it was a good deal to buy at 66 then it should be down right bargain now