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Cable Update (GBPUSD)

  • #364,221
  • Feb 17, 2014 1:51pm Feb 17, 2014 1:51pm
Quoting palabara
{quote} Greed works both ways, bud.
fully agree. i didn't trade much in the gbp/usd in the last few days. just made an analysis in the hope to contribute.
  • #364,222
  • Feb 17, 2014 1:54pm Feb 17, 2014 1:54pm
Quoting redfirm
{quote} its been a slow day, the us is closed down. so we are missing a large share of traders. this allowed it to make a bearish movement, but we are hitting the 76,4 fib. and i don't expect it to go under it. those who went short at the top made some profit, but greed will destroy those who dont close their positions soon. we are going to hit 1,68 one more time at least.
In my opinion if GU can turn back to bullish side without touching ~6668 it will go more over ~6800 to ~7050...
I can imagine after last weekly marobozu.
Buy limit placed .6668
Attached Image (click to enlarge)
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Anything is math!
  • #364,223
  • Feb 17, 2014 1:55pm Feb 17, 2014 1:55pm
Since when do long-term investors dictate long-term price action? Most active asset managers can't beat the S&P, and in my experience real money often consistently catches tops and bottoms on the wrong side. The JPY being a limited exception since everyone across the spectrum was in on the trade last year.
Also all the ACB buying in the 1.40s way back in the day now come back selling in the 1.30s.
Tons of doomsday EU and GU forecasts in a rising market, where was this sentiment post-Christmas when EU capitulated to 1.389x?
Last I recall, all the people who were previously caught short at bad levels after the extended EU uptrend then kept trying to go long EU at every single big figure lower, averaging down, and then got tortured for 2 months before capitulating one way or another.
Check the EU thread history, these are the facts.
Now all the weak participants are caught long USD (yet again) and calling for a big reversal. Makes absolutely no sense.
This is not a reco to buy GU and EU right here, but a more medium-term observation.
  • #364,224
  • Feb 17, 2014 2:07pm Feb 17, 2014 2:07pm
Right last post for the PM

GU 4H
The close of the 4H candle now gives us an Advance Block bullish
Time to switch strategy for long entries?

Attached Image (click to enlarge)
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GU Daily

Evening Star and rejection candle confirmation

Higher probability continued bearish action... tomorrow

Attached Image (click to enlarge)
Click to Enlarge Name: GU Daily.png Size: 45 KB
  • #364,225
  • Feb 17, 2014 2:16pm Feb 17, 2014 2:16pm
Quoting JimmyC
Right last post for the PM GU 4H The close of the 4H candle now gives us an Advance Block bullish Time to switch strategy for long entries? {image}
I would like to see some wick, closer the support before longs! Or some bullish engulfing...
I am holding shorts at the moment SL .6717.
Anything is math!
  • #364,226
  • Feb 17, 2014 2:18pm Feb 17, 2014 2:18pm
Quoting JimmyC
Right last post for the PM GU 4H The close of the 4H candle now gives us an Advance Block bullish Time to switch strategy for long entries? {image} GU Daily Evening Star and rejection candle confirmation Higher probability continued bearish action... tomorrow {image}

Jimmy, why don't you start your trendline back a bit further? This is what I'm talking about:

Attached Image (click to enlarge)
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  • #364,227
  • Feb 17, 2014 2:18pm Feb 17, 2014 2:18pm
Quoting Kajos2250
{quote} I would like to see some wick, closer the support before longs! Or some bullish engulfing... I am holding shorts at the moment SL .6717.
Don't think this level is going to break in a linear way given that we are already in NY afternoon and it has not yet, could be a waste of pips. Just my sense.
  • #364,228
  • Feb 17, 2014 2:19pm Feb 17, 2014 2:19pm
Quoting JimmyC
GU Daily Evening Star and rejection candle confirmation Higher probability continued bearish action... tomorrow {image}
What's your Daily Roll-over time?

This is 17:00 EST
Attached Image (click to enlarge)
Click to Enlarge Name: Capture.JPG Size: 39 KB
  • #364,229
  • Feb 17, 2014 2:21pm Feb 17, 2014 2:21pm
Quoting Ken A
{quote} What's your Daily Roll-over time? This is 17:00 EST {image}
GMT +1
2 x European brokers Ken

Yours is dark cloud cover without the weekend candle..
  • #364,230
  • Feb 17, 2014 2:22pm Feb 17, 2014 2:22pm
Quoting JimmyC
Right last post for the PM GU 4H The close of the 4H candle now gives us an Advance Block bullish Time to switch strategy for long entries? {image} GU Daily Evening Star and rejection candle confirmation Higher probability continued bearish action... tomorrow {image}
I am not convinced by sunday bar in evening star We will see tomorrow.
Attached Image
Anything is math!
  • #364,231
  • Feb 17, 2014 2:24pm Feb 17, 2014 2:24pm
Quoting Baggi
{quote} Jimmy, why don't you start your trendline back a bit further? This is what I'm talking about: {image}
Baggi

The point of the Multi TF analysis the larger TF has precedence and shows trend, to me this is a confirming reversal TL is always subjective to the Anylist, yours is valid too
  • #364,232
  • Feb 17, 2014 2:26pm Feb 17, 2014 2:26pm
Quoting JimmyC
{quote} GMT +1 2 x European brokers Ken Yours is dark cloud cover without the weekend candle..
Looks like I am missing Saturday candle

PA has stopped at the mid 50% of Friday candle
  • #364,233
  • Feb 17, 2014 2:27pm Feb 17, 2014 2:27pm
Quoting JimmyC
Right last post for the PM GU 4H The close of the 4H candle now gives us an Advance Block bullish Time to switch strategy for long entries? {image} GU Daily Evening Star and rejection candle confirmation Higher probability continued bearish action... tomorrow {image}
I am wondering why you guys Chart have evening doji star on Daily chart and mine are complete full candle????? I have a pretty nice Morning Doji Star in weekly, but I can't get evening doji in my daily? What happen?
I am not the SMARTEST person in the world, I am the PERSISTENT one.
  • #364,234
  • Feb 17, 2014 2:28pm Feb 17, 2014 2:28pm
Quoting veer2010
Okay, I'm back with some info again.. London desk is gonna sell GBP/USD today and they are targeting 1.63 area.. I am going short at the current price now..

Did anyone notice that Veer2010 made this announcement for the fourth time in about three months, give or take, and so far, even though his timing has been off a little, he's been right?

When he made that post GU was approximately 100 pips higher.
  • #364,235
  • Feb 17, 2014 2:29pm Feb 17, 2014 2:29pm
Quoting Baggi
{quote} Jimmy, why don't you start your trendline back a bit further? This is what I'm talking about: {image}
Both is right, but expanding wedge carries other information in my knowledge. Am i right?
Anything is math!
  • #364,236
  • Feb 17, 2014 2:30pm Feb 17, 2014 2:30pm
BOE's Miles Says Slack Might Be Greater Than Forecast

http://online.wsj.com/article/BT-CO-...17-704470.html
  • #364,237
  • Feb 17, 2014 2:30pm Feb 17, 2014 2:30pm
Quoting Ken A
{quote} Looks like I am missing Saturday candle PA has stopped at the mid 50% of Friday candle
I though I am the only missing, I don't think I am convinced with the weekend candle. Give me five.
I am not the SMARTEST person in the world, I am the PERSISTENT one.
  • #364,238
  • Feb 17, 2014 2:30pm Feb 17, 2014 2:30pm
Quoting eurusd_trade
Since when do long-term investors dictate long-term price action? Most active asset managers can't beat the S&P, and in my experience real money often consistently catches tops and bottoms on the wrong side. The JPY being a limited exception since everyone across the spectrum was in on the trade last year. Also all the ACB buying in the 1.40s way back in the day now come back selling in the 1.30s. Tons of doomsday EU and GU forecasts in a rising market, where was this sentiment post-Christmas when EU capitulated to 1.389x? Last I recall, all...
You shouldn't base your opinion on a dozen of people from FF.
Even altogether, all FF traders are not moving the market a single pip
COT: The precious data ignored
  • #364,239
  • Feb 17, 2014 2:30pm Feb 17, 2014 2:30pm
Quoting Kajos2250
{quote} I am not convinced by sunday bar in evening star We will see tomorrow. {image}
DMA (direct Market Access) vs. Over The Counter Pricing... close enough a print is a print
The market is always right, its up to the trader to agree...
  • #364,240
  • Feb 17, 2014 2:34pm Feb 17, 2014 2:34pm
Quoting kimisiow83
{quote} I though I am the only missing, I don't think I am convinced with the weekend candle. Give me five.
I think if your account is over half a bil you will get complete 7 candles per week and less than that only 5

But hey don't feel bad about it
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