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Cable Update (GBPUSD)

  • #378,961
  • May 23, 2014 4:29am May 23, 2014 4:29am
After yesterdays bearish continuation I have lower targets as follow
Buy limit @ 1.6804 with SL at 1.6781 - This trade if 1.6804 hold should take me to 1.7038 area
If
1.6804 will be smashed by offers I would look at
1.6667 area with SL initially for 20 pips but I would like to see intraday pivots when if we go there so I can cut my risk even more - this trade if hold should take me to 1.7260 area
if
we get to 1.6667 area and buying at that level will be stoped by 1.6868 area I will turn a bit neutral on sterling and look for a further clues in PA,
I do not believe in fundamental change in UK's economy to justify bearish stance atm,
This is my view, do not follow, trade your own charts
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpusdh1.png Size: 28 KB
Click to Enlarge Name: gbpusdh4.png Size: 26 KB
swing it!
  • #378,962
  • May 23, 2014 4:47am May 23, 2014 4:47am
Quoting Bones
no such pattern ,be prepared {quote} {image}
One of us will be right, tune in later to find out who
  • #378,963
  • May 23, 2014 4:52am May 23, 2014 4:52am
we are on a phone app, we are trying to figure out on the 1 hour if we have a flag ,, our figures look like this 6916, to 6851 total 65 pips ? now the bottom flag from 6875 - 65 pips total 6810 , we have a short pp now on from 6900 and another 6850 , so we are targeting that 6810 area, if that makes sense,, dont forget we are trading from an ap ON THE PHONE in france,, anybody else see this ,,,regards E EURUSD 3557 target too, ,,
  • #378,964
  • May 23, 2014 5:18am May 23, 2014 5:18am
True lol
( still no chart with pattern ?)


Quoting GDR3k
{quote} One of us will be right, tune in later to find out who
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #378,965
  • May 23, 2014 5:24am May 23, 2014 5:24am
Quoting JimmyC
Howzit GU London FTSE 1st hour {image} Cable 1st hour {image} Time for some profit taking ahead of the holiday? Trade Safe
Great idea! I took profit yesterday because I didn't sense enough strength on the downside. Maybe it goes down anyway, but it seems better to take small profits than taking losses
  • #378,966
  • May 23, 2014 5:56am May 23, 2014 5:56am
Quoting spocktrader
{quote} Quite possible. Anyway, I'm short until 1.68, where I plan to go long again. Existing longs remain untouched {image} Cheers
Hi Spock,

Yes, a similar general outlook
Come with me if you want to live....
  • #378,967
  • May 23, 2014 6:01am May 23, 2014 6:01am
Quoting elbert3
we are on a phone app, we are trying to figure out on the 1 hour if we have a flag ,, our figures look like this 6916, to 6851 total 65 pips ? now the bottom flag from 6875 - 65 pips total 6810 , we have a short pp now on from 6900 and another 6850 , so we are targeting that 6810 area, if that makes sense,, dont forget we are trading from an ap ON THE PHONE in france,, anybody else see this ,,,regards E EURUSD 3557 target too, ,,
i should of said inverted flag before,, but thanks for the help ?? 6830 is support and 200 sits there on the 1 hour, on our little phone app break there the 6805 looking at that now
  • #378,968
  • May 23, 2014 6:03am May 23, 2014 6:03am
are supports in this moment and/or below strong to stop drop ?

best wishes.
Attached Image (click to enlarge)
Click to Enlarge Name: zz.jpg Size: 107 KB
it's all gone a bit........
  • #378,969
  • May 23, 2014 6:13am May 23, 2014 6:13am
This drop is more due to the weak German Ifo business climate number I find not really a technical one. The currencies are really news-driven nowadays.
Make your losses in demo. Earn your profits live.
  • #378,970
  • May 23, 2014 6:16am May 23, 2014 6:16am
http://www.bbc.com/news/uk-politics-27534191

Euro-skeptics are winning more seats than expected so far in UK. More important for GBP than IFO. EU voting on Sunday can do lot of harm to EU bringing GU further down.
  • #378,971
  • Edited 7:00am May 23, 2014 6:36am | Edited 7:00am
Quoting elbert3
{quote} i should of said inverted flag before,, but thanks for the help ?? 6830 is support and 200 sits there on the 1 hour, on our little phone app break there the 6805 looking at that now
were pp on 2 trades now 6845 total 70 pips still looking to our inverted flag target 810, but this breaks the 200 on the 1hour,, then trail stop every 8 pips, 3559 target eurusd,, thats us guys were back going back on the boat to jersey ,,weather allowing ,,gl see you monday ,, regards E ,, DELL BOY sorry i missed the sarcasm ,, talk monday should be back then
  • #378,972
  • May 23, 2014 6:47am May 23, 2014 6:47am
Quoting sakisf
http://www.bbc.com/news/uk-politics-27534191 Euro-skeptics are winning more seats than expected so far in UK. More important for GBP than IFO. EU voting on Sunday can do lot of harm to EU bringing GU further down.
Bah, I don't think so. True, EU might go down but I doubt that European elections have anything to do with it. Most people don't give a damn anyway (about elections, I mean)!

As to EU/GU correlation, I'm really surprised about Cable's strength against Euro weakness. Couldn't it be that this correlation was a mere side effect of the weak dollar and now that greenback's strengthening we've got a completely new game?

Only my 0.02$

cheers
Be water, my friend
  • #378,973
  • May 23, 2014 7:58am May 23, 2014 7:58am
A break below ascending trend line support coupled with MACD cross caused a decline in GBPUSD. Can we say it wold test 1.6800?
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdh4.png Size: 25 KB
  • #378,974
  • May 23, 2014 9:04am May 23, 2014 9:04am
Quoting Fx_Anil
A break below ascending trend line support coupled with MACD cross caused a decline in GBPUSD. Can we say it wold test 1.6800? {image}
it will test 6400
  • #378,975
  • May 23, 2014 9:22am May 23, 2014 9:22am
I think it's buying this dip from here.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdh1 06.png Size: 39 KB
Elliott Wave for optimum entry, exit and risk management of trades
  • #378,976
  • May 23, 2014 10:04am May 23, 2014 10:04am
First support 6600 then correction wave to 6800 then impulse wave to 6400
Attached Image (click to enlarge)
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  • #378,977
  • May 23, 2014 10:13am May 23, 2014 10:13am
ready to tune in ?

Quoting GDR3k
{quote} One of us will be right, tune in later to find out who
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #378,978
  • May 23, 2014 10:16am May 23, 2014 10:16am
only patterns are ,
both ,
2 candle patterns
with high proberbility


Quoting Bones
gbp cad d1 {image}
Attached Image (click to enlarge)
Click to Enlarge Name: gbp CAD d1 23 may (DFB).png Size: 26 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #378,979
  • May 23, 2014 10:43am May 23, 2014 10:43am
Quoting elbert3
{quote} were pp on 2 trades now 6845 total 70 pips still looking to our inverted flag target 810, but this breaks the 200 on the 1hour,, then trail stop every 8 pips, 3559 target eurusd,, thats us guys were back going back on the boat to jersey ,,weather allowing ,,gl see you monday ,, regards E ,, DELL BOY sorry i missed the sarcasm ,, talk monday should be back then
as above 810 inverted flag target still in trade we were pp at 6837,, going back in 6828 to 6802
  • #378,980
  • May 23, 2014 10:43am May 23, 2014 10:43am
1st dark cloud then 3 inside down


Quoting Bones
{quote} {image}
Attached Image (click to enlarge)
Click to Enlarge Name: gbp USD d1 (DFB).png Size: 24 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
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