Cable Update (GBPUSD) | Page 19008 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

GBP/USD

Similar Threads

Cable Update - Continued 118 replies

Cable Update (GBP/USD) without Idiots 25 replies

cable short for gbpusd? 10 replies

Why is GBPUSD called cable? 76 replies

Cable (GBPUSD) vs Euro (EURUSD) 31 replies

Attachments: Cable Update (GBPUSD)
Exit Attachments

Cable Update (GBPUSD)

  • #380,141
  • Jun 4, 2014 12:11am Jun 4, 2014 12:11am
Quoting OnlineAddict
{quote} Acceleration GAP = Fake move, I expect the index to re-test 80 now. Should help both eur and gbp to retrace a little.
I wouldn't be brave enough to call it fake,

The level must be tested (or not) and the interesting part will be if it supports, which is a strong possibility, the move is retracing now so we'll see soon

DX 1H
Attached Image
  • #380,142
  • Jun 4, 2014 12:17am Jun 4, 2014 12:17am
Quoting JimmyC
{quote} I wouldn't be brave enough to call it fake, The level must be tested (or not) and the interesting part will be if it supports, which is a strong possibility, the move is retracing now so we'll see soon DX 1H {image}
I see a triple top on your chart...lets see where it ends up at, curious about that myself. Won't matter much, since ECB will mess the market up in both directions on thursday, anyway.
Everyone can see the chart, but only a few can actually read it.
  • #380,143
  • Jun 4, 2014 12:19am Jun 4, 2014 12:19am
IMHO, A "Doji" similar candlestick formation on daily chart yesterday seems eroding the last weekend's gain. The Cable is likely to continue its plunge below the ascending trend channel. However, 100-day SMA support near 1.6675 can become important for the pair. On the upside, 1.6775 and 1.6800 can become good support to observe.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusddaily.png Size: 38 KB
  • #380,144
  • Jun 4, 2014 12:45am Jun 4, 2014 12:45am
MORNING a nice start acc in the black again gold still on its way to the 10 ema on the day chart, gbusd still looking to get to the 20 ema red on the weekly a strong push down could see 6350 area .
Attached Image (click to enlarge)
Click to Enlarge Name: week3.png Size: 103 KB
Attached Image (click to enlarge)
Click to Enlarge Name: daywed.png Size: 106 KB
looking to break the 100 on the day could accelerate to 6450 area to ,,, eurgbp looks like it wil match its move to 8157,,,1.8279 i have gone short gbcad trying that again to come down with gbusd
Attached Image (click to enlarge)
Click to Enlarge Name: gbcad.png Size: 119 KB
6712 is support i might take some off there see how strong the move is on the 5 min chart
  • #380,145
  • Jun 4, 2014 12:47am Jun 4, 2014 12:47am
That 4 hour acceleration gap on dollar has already been tested once, just looked, 2nd time it should fall through.... Dollar looks tired, would like to see it back at 7940 area then higher highs.. that would make logical sense to the naked eye..would create a inverted head and shoulders..... also current price being contained at 21.4 fib reversal from last swing.. if holds expect deeper pullback before it takes off
  • #380,146
  • Jun 4, 2014 12:58am Jun 4, 2014 12:58am
Quoting RussJ
That 4 hour acceleration gap on dollar has already been tested once, just looked, 2nd time it should fall through.... Dollar looks tired, would like to see it back at 7940 area then higher highs.. that would make logical sense to the naked eye..would create a inverted head and shoulders..... also current price being contained at 21.4 fib reversal from last swing.. if holds expect deeper pullback before it takes off
combined 117 pips in black .. do you take it or do you go for the trade to break 6712 ??
  • #380,147
  • Jun 4, 2014 1:04am Jun 4, 2014 1:04am
Quoting OnlineAddict
My chart is showing 1.6670 as a good long entry and 1.6750-1.6807 as a good short entry, lets see what the news bring us.
If we reach 1.6670 I will be shorting 1.6708 area for sure... I think we will hold at 1.6697
  • #380,148
  • Jun 4, 2014 1:06am Jun 4, 2014 1:06am
Quoting RussJ
{quote} If we reach 1.6670 I will be shorting 1.6708 area for sure... I think we will hold at 1.6697
Attached Image (click to enlarge)
Click to Enlarge Name: 5.png Size: 99 KB
morning russ thats 5 min little bounce ??? not sure if it will do 725 and down again ??
  • #380,149
  • Jun 4, 2014 1:08am Jun 4, 2014 1:08am
Quoting elbert3
{quote} combined 117 pips in black .. do you take it or do you go for the trade to break 6712 ??

Depends on your plan... I think dollar will be sold off.....

currently I have cable going up to daily pivot, break slightly as an indication we are going to push higher...so up to say 1.6743 then sold off trying to create a lower low but will fail at 1.6697 creating an inverse head and shoulders..... so I think we will go lower than 1.6712 but not much lower, expect 1.6743 too take us to that area of 1.6697/167 then it wil be bought

If however, we go down too 1.6697 before testing 1.6740 well that's a whole new ball game and will provide a fight for sure

I think dollar as well has already tested the acceleration gap and too the naked eye needs come back to that area I spoke of earlier... there it will go higher highs for sure, but stick to your plan, but I would take some off for sure if you are unsure.
  • #380,150
  • Jun 4, 2014 1:08am Jun 4, 2014 1:08am
Quoting RussJ
{quote} If we reach 1.6670 I will be shorting 1.6708 area for sure... I think we will hold at 1.6697
careful 666 thats the 20 ema on the weekly banks institutions use 20 and 200 emas mostly ,,
  • #380,151
  • Jun 4, 2014 1:10am Jun 4, 2014 1:10am
Quoting RussJ
{quote} Depends on your plan... I think dollar will be sold off..... currently I have cable going up to daily pivot, break slightly as an indication we are going to push higher...so up to say 1.6743 then sold off trying to create a lower low but will fail at 1.6697 creating an inverse head and shoulders..... so I think we will go lower than 1.6712 but not much lower, expect 1.6743 too take us to that area of 1.6697/167 then it wil be bought If however, we go down too 1.6697 before testing 1.6740 well that's a whole new ball game and will provide...
cheers ,, its greed verse gut feeling at this time i might take the short from 6780
  • #380,152
  • Jun 4, 2014 1:17am Jun 4, 2014 1:17am
Quoting elbert3
{quote} cheers ,, its greed verse gut feeling at this time i might take the short from 6780

Yeah I see that short. problem is Shorts are at 1.6808 - 18 and then 1.6840 level.. but you may get a scalp at 1.6770 for x pips etc, normally 1.6770 would be intraday pullback and we would finish the sat at 1.6810 but as its NFP todays top might be that 1.6770 area. normally I would just hold and scale at 1.6808 but I too now have to consider if we get too 1.6770 scaling there because NFP and things not reaching full targets etc

Although that is my plan, if your plan is was to exit at X you should do so and build up good habits, you don't want to let emotions gut vs feeling get the better of you, stick to what you originally planned or make another rule where you will wait for a failure of lower low on x timeframe etc so you can get out
  • #380,153
  • Jun 4, 2014 1:29am Jun 4, 2014 1:29am
Cable daily has broken south of the ascending Guppy profile, retested north and created a pin yesterday, and now shows signs of dropping back down. (This has not been the case, for most of the PAs of similar behaviour, for quite some weeks now.)

Will this be significant? Pff, who knows? And yes, I think there is hesitation prior to the Draghi dross to be delivered a little later. PA leading up to the 9:30 UK news today may give traders some hints.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusddaily.png Size: 75 KB


FXCM Dollar daily is back in the oscillation zone as set in February. Is it tired? I’m not sure, as we have seen a break north of the Guppy profile, a drop back down to test the inversion of the Guppy Profile north, and then a resumption of PA above the 123.6 FE.
Attached Image (click to enlarge)
Click to Enlarge Name: usdollardaily.png Size: 63 KB


Dollar is still king, and whilst Cameron tries to appear the hard politician against a changing European landscape – there’s something about his schoolboy demeanour that makes me want to just slap him (he needs a bigger chin, or at least some stubble, in order to lend credibility to his wannabe leader of men image) – I don’t think big money wants to risk the volatility that is being threatened for the Euro and Cable at present.

EG daily looks set to have a little punch of the slow MAs of the descending Guppy profile, and which can only help Cable drop.
Attached Image (click to enlarge)
Click to Enlarge Name: eurgbpdaily.png Size: 76 KB
Author of: For Pip's Sake! (Available at Amazon... :-) )
  • #380,154
  • Jun 4, 2014 1:53am Jun 4, 2014 1:53am
Quoting HareshBM
{quote} The pull-back seems short-live and is unlikely to extend beyond 1.6800 mark. Expecting the pair to test 100-day SMA support, 1.6670 which if broken could test sub-1.6500 level.
As expected, it is heading towards 1.6700 mark and could continue drifting to test 100-day SMA support.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusddaily 04062014.png Size: 8 KB
  • #380,155
  • Jun 4, 2014 1:57am Jun 4, 2014 1:57am
davit the thread needs you.
  • #380,156
  • Jun 4, 2014 2:04am Jun 4, 2014 2:04am
Quoting RussJ
{quote} Yeah I see that short. problem is Shorts are at 1.6808 - 18 and then 1.6840 level.. but you may get a scalp at 1.6770 for x pips etc, normally 1.6770 would be intraday pullback and we would finish the sat at 1.6810 but as its NFP todays top might be that 1.6770 area. normally I would just hold and scale at 1.6808 but I too now have to consider if we get too 1.6770 scaling there because NFP and things not reaching full targets etc Although that is my plan, if your plan is was to exit at X you should do so and build up good habits, you don't...
thanks Russ i let the 6780 and 6750 be taken out on 6712 as before , but still have 3 more to go i will let them run on now i have pp on them so that i keep profit , it looks strong enough to break 712 then we have 670 there might be a lot of sellers there so we might see a drop to 666 665
Attached Image (click to enlarge)
Click to Enlarge Name: 5.png Size: 91 KB
  • #380,157
  • Jun 4, 2014 2:12am Jun 4, 2014 2:12am
Morning folks. She's going up!
Ghost Rider - WWTBMD?
  • #380,158
  • Jun 4, 2014 2:18am Jun 4, 2014 2:18am
Quoting albchr
Morning folks. She's going up!
Same goal, same goal, North for me and USD is contained and should have a pullback!!!
  • #380,159
  • Jun 4, 2014 2:22am Jun 4, 2014 2:22am
Quoting albchr
Morning folks. She's going up!
there is always somebody to spoil the game ,, lol morning C
  • #380,160
  • Jun 4, 2014 2:29am Jun 4, 2014 2:29am
Quoting albchr
Morning folks. She's going up!
Haven't traded this pair in a very long time but it look like it wanna continue down to 1.6650 area http://www.easyfreesmileys.com/smile...mileys-960.gif
1,106 traders viewing now, 2 are registered:
,
Perswit