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Cable Update (GBPUSD)

  • #377,481
  • May 14, 2014 1:03am May 14, 2014 1:03am
GU 4H

My call: long buy limit @ 1.6873 sell stop 1.6992 ext. 1.7 (TP) sell stop 1.6816 (SL)

The prior mentioned H&S pattern is showing signs of being a FAILED PATTERN trading during the Asian session has been bullish
note failed H&S = very bullish, break out imminent

@HDA its today

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$DXY
Harami (for now)
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EU - M5 Dustbins
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  • #377,482
  • May 14, 2014 1:06am May 14, 2014 1:06am
Is it just me or the GBP/USD pair is moving like a snail the past several days... Moves 20 pips up, then 25-30 down, and repeat :-) I'm following it on daily by the way.
  • #377,483
  • May 14, 2014 1:28am May 14, 2014 1:28am
Quoting phdmonster
Is it just me or the GBP/USD pair is moving like a snail the past several days... Moves 20 pips up, then 25-30 down, and repeat :-) I'm following it on daily by the way.
Average True Range across the markets has been very small but the good news is from this week ... its back to business
  • #377,484
  • May 14, 2014 1:33am May 14, 2014 1:33am
likely bearish continuation with the 8:30 and 9:30 news.
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  • #377,485
  • May 14, 2014 1:39am May 14, 2014 1:39am
my 2 cent.. we are in a medium bull market still.. till 6820 is not taken out on a 4h or daily candle... im flat and watching it
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I don't want a job, i want money!
  • #377,486
  • Edited 2:03am May 14, 2014 1:49am | Edited 2:03am
Quoting JimmyC
GU 4H My call: long buy limit @ 1.6873 sell stop 1.6992 ext. 1.7 (TP) sell stop 1.6816 (SL) The prior mentioned H&S pattern is showing signs of being a FAILED PATTERN trading during the Asian session has been bullish note failed H&S = very bullish, break out imminent @HDA its today {image} $DXY Harami (for now) {image} EU - M5 Dustbins {image}


EDIT : Ok, I'm waking up a bit now. (this 2:30am stuff is getting tougher )

Good morning Jimmy, I'd like to see this 4H (close in one hour for me) take out the blue 50ema (1.68779) and 38.2 fib for the bullish continue. I will watch
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Ghost Rider - WWTBMD?
  • #377,487
  • May 14, 2014 1:50am May 14, 2014 1:50am
Quoting JimmyC
{quote} Average True Range across the markets has been very small but the good news is from this week ... its back to business
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morning jim , just having a look on this 1 hour not sure if it is a false break the candle with the arrow down needs to return red for a move back to 6780, were in between 10 and 20 ema on the day , and for me if price breaks the 40 area i will entry short again i did put a stop and sell order on the 40 but changed my mind,,,so lets see the next 30 mins gl regards B
  • #377,488
  • May 14, 2014 1:57am May 14, 2014 1:57am
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eur looking like it wants to be short, i told ruff it was going short at 390 and he' said no give me 5 pips dont mean short ,give ma a shout at 100 pips,,, so RUFF?? LOL HOPE YOU GET BACK,, IN SOME WAYS I MISS HIS RUDENESS .LOL i am long no this till price meets the 10 ema ,,lets see what effect it might have on the gbus
  • #377,489
  • May 14, 2014 1:59am May 14, 2014 1:59am
Quoting elbert3
{quote} {image} morning jim , just having a look on this 1 hour not sure if it is a false break the candle with the arrow down needs to return red for a move back to 6780, were in between 10 and 20 ema on the day , and for me if price breaks the 40 area i will entry short again i did put a stop and sell order on the 40 but changed my mind,,,so lets see the next 30 mins gl regards B
I think the fake or break will be on news... I'm not too bearish here, the EU bounce @ the 200 sma and DX stays weak, no policy changes expected but Carney has got his work cut out to prove he wont raise rates... and this market doesn't trust him. Interesting that a market is so distrustful of its central banker, Equities on the FTSE are very strong atm.

Cable is ever optomistic
  • #377,490
  • May 14, 2014 2:02am May 14, 2014 2:02am
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look to sell at the x this is the top of the tl for me at 75, 65 to could be a sell small lot thou then try 75,,,but the news cometh only the brave should trade now,90% short felling for now
  • #377,491
  • May 14, 2014 2:04am May 14, 2014 2:04am
Quoting JimmyC
{quote} I think the fake or break will be on news... I'm not too bearish here, the EU bounce @ the 200 sma and DX stays weak, no policy changes expected but Carney has got his work cut out to prove he wont raise rates... and this market doesn't trust him. Interesting that a market is so distrustful of its central banker, Equities on the FTSE are very strong atm. Cable is ever optomistic
http://www.fxstreet.com/analysis/trading-positions/ look it to the link, a lot of red sells in there
  • #377,492
  • May 14, 2014 2:05am May 14, 2014 2:05am
I found this:

"The X date came for the pound, as today the Inflation Report may help the market to determine the medium term direction of the monetary policy, thus, helping the investors with pair direction as well. The data usually triggers sharp volatility, and this time it won’t be an exception. Any forecasts revised up by the BOE will mean the regulator is optimistic about economic outlook, and the market will take it as a hint on sooner rather than later tightening. Although the pair is trading below 1.69, the positive developments may trigger broad demand on the pound bringing it back to 1.70 area."

lets play your bid, high volatility....
  • #377,493
  • May 14, 2014 2:15am May 14, 2014 2:15am
this thing is getting bid up with an hour to go before massive news...will it rocket off?? or fade out
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  • #377,494
  • May 14, 2014 2:16am May 14, 2014 2:16am
Quoting albchr
{quote} EDIT : Ok, I'm waking up a bit now. (this 2:30am stuff is getting tougher ) Good morning Jimmy, I'd like to see this 4H (close in one hour for me) take out the blue 50ema (1.68779) and 38.2 fib for the bullish continue. I will watch {image}
I hear you Chris, still on the bench for me -> I've seen Carney move this thing 500 pips down then up in 30 minutes, the risk is way to high unless you're a video game specialist... He doesn't have price stability on his policy statement he could dump us to 1.5 in a heart beat. London is in wait mode volumes are super low. Time for pop-corn
  • #377,495
  • May 14, 2014 2:17am May 14, 2014 2:17am
Quoting elbert3
{quote} http://www.fxstreet.com/analysis/trading-positions/ look it to the link, a lot of red sells in there
Notice no bank sell positions...
  • #377,496
  • May 14, 2014 2:19am May 14, 2014 2:19am
Quoting ms1
this thing is getting bid up with an hour to go before massive news...will it rocket off?? or fade out {image}
That's not trading activity per say, its normal exchange and retail ... volumes are very light
  • #377,497
  • May 14, 2014 2:19am May 14, 2014 2:19am
unemployment rate in an hour. i'll stick with short! it's bearish to meeeeee
  • #377,498
  • May 14, 2014 2:21am May 14, 2014 2:21am
Quoting JimmyC
{quote} That's not trading activity per say, its normal exchange and retail ... volumes are very light
where are u checking off volumes? are u trading futures
  • #377,499
  • May 14, 2014 2:23am May 14, 2014 2:23am
news not expecting much,best just to stay flat now
All posts are my personal opinion
  • #377,500
  • May 14, 2014 2:24am May 14, 2014 2:24am
The important thing is to do nothing till tomorrow... Just watch and learn

BOE is going to intervene in the economy

This is what they need to deal with, how would you position Cable for 2% target?
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