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Cable Update (GBPUSD)

  • #377,421
  • May 13, 2014 11:43am May 13, 2014 11:43am
Back going to get back in short my trades tp were hit so banked 2 lose 5 pips on 1 mm28 is the in and 25 will be broken now and run down to 6780- 6720 area i have taken the buy order from eurusd that look s strong sell still but will take 90% off on the 200 sma hit on the day chart
  • #377,422
  • May 13, 2014 11:43am May 13, 2014 11:43am
Technical formation

Current example - Ascending broadening wedge

$SPX 500 1H
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Theory
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bbl
  • #377,423
  • May 13, 2014 12:06pm May 13, 2014 12:06pm
If I restrict myself to the daily charts, I would say that Cable has positioned itself upon the support of the red MAs of the Guppy profile, and that the FXCM Dollar has pushed itself up against the resistance of the red MAs of the Guppy profile.


With regards to the Euro; well, until Draghi stops dithering about how next he is to dupe the downtrodden within Europe, the Euro will, I think, not show that much strength. (Of course, the market makers will have a far better idea of what is to come, and will have acted upon it far sooner than we can.)


I would not be surprised to see Cable and the FXCM Dollar use tomorrow’s UK data to reverse their current courses… but I could be wrong – which is far too frequent an event these days.


Cable Daily
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FXCM Dollar Daily
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EU Daily
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EG Daily
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  • #377,424
  • May 13, 2014 12:11pm May 13, 2014 12:11pm
nzd evening star on h1 ,has broke
ok low prob but its nice and big and in line with weekly
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #377,425
  • May 13, 2014 12:12pm May 13, 2014 12:12pm
Quoting Bones
I have moved my position eu and still hold nu so it don't matter to me ,but that swing is causing problem . {image}
The Euro appears weak across the board that we normally cover. (Admittedly, the FXCM Dollar doesn't look too spritely either, but it has seen a nice pin bar on the weekly.)

My bones just tell me that the best to gamble upon at the moment (for appreciation) is Sterling.

EU Monthly
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EU Weekly
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EG Monthly
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EG Weekly
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  • #377,426
  • May 13, 2014 12:13pm May 13, 2014 12:13pm
eu now trades under support ,
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #377,427
  • May 13, 2014 12:14pm May 13, 2014 12:14pm
Quoting JimmyC
Technical formation Current example - Ascending broadening wedge $SPX 500 1H {image} Theory {image} bbl
just holding now jim eur pp is 1370 see if 1,, it falls through the 200 on the day or we get resistance , which could take gbusd up with it
  • #377,428
  • May 13, 2014 12:16pm May 13, 2014 12:16pm
Quoting elbert3
{quote} just holding now jim eur pp is 1370 see if 1,, it falls through the 200 on the day or we get resistance , which could take gbusd up with it
order taken short at 6830 again sl is 35 looking to break 25 again
  • #377,429
  • May 13, 2014 12:18pm May 13, 2014 12:18pm
Took long at 1.6825. Tight stop at 1.6815.
  • #377,430
  • May 13, 2014 12:19pm May 13, 2014 12:19pm
has tested 80

Quoting Bones
now usdx is above 80 {image}
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  • #377,431
  • May 13, 2014 12:22pm May 13, 2014 12:22pm
Pivots to provide protection...?

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  • #377,432
  • May 13, 2014 12:25pm May 13, 2014 12:25pm
doubt it


Quoting 45Condor
Pivots to provide protection...? {image}
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  • #377,433
  • May 13, 2014 12:28pm May 13, 2014 12:28pm
yea but wheres your chart ,open calls ,whats that mean


Quoting Jason W
Took long at 1.6825. Tight stop at 1.6815.
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  • #377,434
  • May 13, 2014 12:34pm May 13, 2014 12:34pm
Quoting Bones
doubt it {quote} {image}
It will be interesting to see if this is the last push for today (remaining around the MP), and that any further PA - in which ever direction for the Dollar - will not be evident until around London open/news at 9.30 GMT... with Frankfurt perhaps peddling its pathetic posture prior to this, in order to try and show that it has some say in the market.
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  • #377,435
  • May 13, 2014 12:38pm May 13, 2014 12:38pm
ok I have no idea what you just said lol

Quoting 45Condor
{quote} It will be interesting to see if this is the last push for today (remaining around the MP), and that any further PA - in which ever direction for the Dollar - will not be evident until around London open/news at 9.30 GMT... with Frankfurt perhaps peddling its pathetic posture prior to this, in order to try and show that it has some say in the market.
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #377,436
  • May 13, 2014 12:45pm May 13, 2014 12:45pm
$DX Daily

Down trend, retracement levels
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  • #377,437
  • May 13, 2014 12:53pm May 13, 2014 12:53pm
Quoting Bones
ok I have no idea what you just said lol {quote}

Sorry... I'm referring to the Dollar - as measured via FXCM - and if New York is pushing the value up to around the monthly pivot, prior to their close for today. If so, and the Asian session is quiet, I don't expect much price action until London opens tomorrow, and even then, I think all eyes will be watching for the two sets of news to come out of London, before any decisive direction is decided upon for Cable.


As a side note, there follows tomorrow afternoon a little news out of the US, and which may upset the pip cart.


I'm chatting away this evening as I see instruments on typically strong support and resistance levels - with news pending in less than 24 hours. So, how about this for a prediction: Cable gains tomorrow on good UK data, settles for the US news in the afternoon, and then come Thursday, it is good US news, and Cable drops and the Dollar gains. All in London and New York raise their glasses, as all sides have profited from the gentleman's agreement, and we retailers are left chasing our arses.
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  • #377,438
  • May 13, 2014 1:20pm May 13, 2014 1:20pm
Quoting JimmyC
GU 4H Some thoughts, GU remains significantly stronger than EU, EU is weak though and this is having an impact mixed with the $DX struggling along US data was not very strong... so knee jerk response Support levels are breaking... So two technical patterns emerge and one support break 2 bear and 1 bull H&S -> caution also suggests falling wedge Support @ 1.6820 does matter... and its being poked All patterns are in formation and none have confirmed, belts and braces approach is to wait for the patterns to confirm be fore trading them Trade...
Quoting albchr
{quote} LOL... ok, how fixated am I on 6820? I actually read it as 6820 in his post.

H4
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  • #377,439
  • May 13, 2014 1:21pm May 13, 2014 1:21pm
haha yea sounds about right I think


Quoting 45Condor
{quote} Sorry... I'm referring to the Dollar - as measured via FXCM - and if New York is pushing the value up to around the monthly pivot, prior to their close for today. If so, and the Asian session is quiet, I don't expect much price action until London opens tomorrow, and even then, I think all eyes will be watching for the two sets of news to come out of London, before any decisive direction is decided upon for Cable. As a side note, there follows tomorrow afternoon a little news out of the US, and which may upset the pip cart. I'm chatting...
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  • #377,440
  • May 13, 2014 1:23pm May 13, 2014 1:23pm
Quoting Bones
doubt it {quote} {image}
Potentially belabouring the point
1.37 change in polarity, close below = bearish
200 sma is reactive (last time Bernanke saved the EU from tanking by printing money)
If we close below 1.368 then we're pricing for Draghi's rate cut
8th May Kabuse I agree, not reversed yet

It seems EU fate will be known soon

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Correlation - Intraday

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