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Cable Update (GBPUSD)

  • #375,881
  • May 6, 2014 4:00am May 6, 2014 4:00am
short entry at 69700 + or - (if it gets there) for a small to medium correction. Breakout on H4 was on relatively low volumes (if my data's correct). Plus, the global sentiment is so unidirectional that I'm getting dubious as to the short term pursuit of this upward move.
  • #375,882
  • May 6, 2014 4:01am May 6, 2014 4:01am
Quoting giveachance
{quote} and then we have no volatility in the system. don't worry carney will soon fire a cannon blow to GBP
No offense giveachance but... Carney this, Carney that, I keep hearing the same thing for months.

Even if he himself really doesn't want a strong GBP, the folks that own him sure seem to. And let's not forget the other side of the equation, the dollar. Which I've had little faith in for a very long time given the current policies in place.

Of course this is just my opinion and we know what they're worth.
Ghost Rider - WWTBMD?
  • #375,883
  • May 6, 2014 4:14am May 6, 2014 4:14am
Quoting musani
I {quote} I did said last friday ..look at number .68
could get 32 pips out of this x4 back to the 10 ema on the 1 hour ,, this is the only way to make the money countertrend wait for the move away from the emas and trade back .
  • #375,884
  • May 6, 2014 4:14am May 6, 2014 4:14am
Quoting albchr
{quote} No offense giveachance but... Carney this, Carney that, I keep hearing the same thing for months. Even if he himself really doesn't want a strong GBP, the folks that own him sure seem to. And let's not forget the other side of the equation, the dollar. Which I've had little faith in for a very long time given the current policies in place. Of course this is just my opinion and we know what they're worth.
look If you move the markets even after a good NFP on the sell side then it is clearly manipulation.
  • #375,885
  • May 6, 2014 4:15am May 6, 2014 4:15am
Quoting albchr
{quote} No offense giveachance but... Carney this, Carney that, I keep hearing the same thing for months. Even if he himself really doesn't want a strong GBP, the folks that own him sure seem to. And let's not forget the other side of the equation, the dollar. Which I've had little faith in for a very long time given the current policies in place. Of course this is just my opinion and we know what they're worth.
There is a lot fundamentally speaking in favour of sterling, just housing market itself in London is massive, think about all those multi million pound Victorian houses in Nothing Hill and Chelsea bought by Chinese and Russians, money flows into UK, there are sound macro numbers, yet you will find people who want to sell that. Fine by me.
swing it!
  • #375,886
  • May 6, 2014 4:18am May 6, 2014 4:18am
Quoting tomspin
{quote} There is a lot fundamentally speaking in favour of sterling, just housing market itself in London is massive, think about all those multi million pound Victorian houses in Nothing Hill and Chelsea bought by Chinese and Russians, money flows into UK, there are sound macro numbers, yet you will find people who want to sell that. Fine by me.
Tom 4 fundies are red, 13 green, shorting is as lame as taking a selfie.
  • #375,887
  • May 6, 2014 4:19am May 6, 2014 4:19am
offers at 6950 did the kicking in there.

Longer term - technically if price can clear the former monthly swing hi leading to 7039 then the former swing lo (where that swing hi found supply) ie former support that acted as resistance...that leads up to 7200 area, then the 50% of the 2.1162-1.3505 is a possibility no ? then the 61.8% even so ?...assuming fundamentals remain supportive and 1year away from Uk election - it is probably will be the way ?

best wishes.
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it's all gone a bit........
  • #375,888
  • May 6, 2014 4:19am May 6, 2014 4:19am
The very very good NFP's new cant make USD stronger, Whatelse can???
For me, this is an unfair game for USD
Very good new for US, The USD is stationary.
Good new for US, the USD fall a little.
And bad new for US, the USD is break...
By the way, there are some people control this market.
Now, everyone think that USD will fall again and again. Who know what they are thinking about?
Be careful guys )
  • #375,889
  • May 6, 2014 4:20am May 6, 2014 4:20am
Gidday GBP/US

Man got me longs set all round 1.70+ 1.704

But you talking higher again 1.70 to 1.74

I know when it breaks above 1.70 which

may be new support level

Lets see if Dragi brings out the big hammer for the EUR
  • #375,890
  • May 6, 2014 4:21am May 6, 2014 4:21am
I love this bubble although it's small ​
  • #375,891
  • May 6, 2014 4:26am May 6, 2014 4:26am
GU is pimping hard. We can pullback from 7100 to 6900, however the trend will proceed ahead and test 7300-7400 before end of summer. Some geo political knockout can reverse gains in August 2014.
  • #375,892
  • May 6, 2014 4:29am May 6, 2014 4:29am
Quoting tomspin
{quote} There is a lot fundamentally speaking in favour of sterling, just housing market itself in London is massive, think about all those multi million pound Victorian houses in Nothing Hill and Chelsea bought by Chinese and Russians, money flows into UK, there are sound macro numbers, yet you will find people who want to sell that. Fine by me.
I have to say Tom, I know little to nothing about fundamentals. I make no secret of that. I am trying to learn but I went with technical first as I knew learning all the ins and outs of fundies would take YEARS of market experience. I figured technical would be far easier/faster to learn. So from just a technical view on the charts, it simply baffles my mind why anyone would be looking at shorts (save scalping some retraces) on GU or EU now.
Ghost Rider - WWTBMD?
  • #375,893
  • May 6, 2014 4:30am May 6, 2014 4:30am
Quoting tomspin
{quote} There is a lot fundamentally speaking in favour of sterling, just housing market itself in London is massive, think about all those multi million pound Victorian houses in Nothing Hill and Chelsea bought by Chinese and Russians, money flows into UK, there are sound macro numbers, yet you will find people who want to sell that. Fine by me.
ya so what was the logic when gbp was at 1.44 and it burst through 1.54 in 2 months. data every month was always in contraction. don't talk bullshit here. markets are positioned for a dollar selloff and it will happen no matter how good or bad the data is. wehn positioning changes markets will fall even on good data.
  • #375,894
  • May 6, 2014 4:30am May 6, 2014 4:30am
did friend Navin2007 close all his shorts ?

best wishes.
it's all gone a bit........
  • #375,895
  • May 6, 2014 4:31am May 6, 2014 4:31am
Quoting albchr
{quote} I have to say Tom, I know little to nothing about fundamentals. I make no secret of that. I am trying to learn but I went with technical first as I knew learning all the ins and outs of fundies would take YEARS of market experience. I figured technical would be far easier/faster to learn. So from just a technical view on the charts, it simply baffles my mind why anyone would be looking at shorts (save scalping some retraces) on GU or EU now.
Chris, I like this chart in particular, this is still very valid for the latest PA. 6720-6750 massive support now.
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  • #375,896
  • May 6, 2014 4:34am May 6, 2014 4:34am
Quoting albchr
{quote} I have to say Tom, I know little to nothing about fundamentals. I make no secret of that. I am trying to learn but I went with technical first as I knew learning all the ins and outs of fundies would take YEARS of market experience. I figured technical would be far easier/faster to learn. So from just a technical view on the charts, it simply baffles my mind why anyone would be looking at shorts (save scalping some retraces) on GU or EU now.
didn't it baffle your mind when traders were selling at 1.44. when all the market participants said it would test 1.40 and didn't it baffle your mind when it fell from 1.64 to 1.44
  • #375,897
  • May 6, 2014 4:34am May 6, 2014 4:34am
on the 1 hour rsi is 85 the price is 78 % of the long leg doji its got to give ?? back to 6900 ish
  • #375,898
  • May 6, 2014 4:35am May 6, 2014 4:35am
Quoting giveachance
{quote} look If you move the markets even after a good NFP on the sell side then it is clearly manipulation.
Okie dokie bro All I'm saying is one should be cautious with shorts at this time. For me, the charts speak for themselves and they're speaking volumes....loudly.

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Ghost Rider - WWTBMD?
  • #375,899
  • May 6, 2014 4:35am May 6, 2014 4:35am
Quoting elbert3
on the 1 hour rsi is 85 the price is 78 % of the long leg doji its got to give ?? back to 6900 ish
elbert crosses and CHF say we go UP.
  • #375,900
  • May 6, 2014 4:45am May 6, 2014 4:45am
Quoting ruffryders
{quote} Chris, I like this chart in particular, this is still very valid for the latest PA. 6720-6750 massive support now. {image}
That, and the 6800/20 area was my thinking for a retrace to buy at. I have to admit, as all my posts suggest, I thought it would reach those areas before this run though. Glad I'm still not pushing any buttons at this point.

In my humble view, I'll now have to wait for 7040 (obvious reasons) and 7100 or more to see what's what now.
Ghost Rider - WWTBMD?
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