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Cable Update (GBPUSD)

  • #384,381
  • Jun 30, 2014 9:49am Jun 30, 2014 9:49am
Quoting timos
{quote} So what?Does that prevent the price to go higher/lower?
It somewhat tells you that the price may not fly more.... Dunno.

It is an indication to book profits actually and not a signal to go short.
Intraday only.
  • #384,382
  • Jun 30, 2014 9:50am Jun 30, 2014 9:50am
Quoting navk
But today's ADR ( Average daily range ) has reached.
is needs t drop took it beyond my normally sl 726 will do for a pull back any more great
  • #384,383
  • Jun 30, 2014 9:52am Jun 30, 2014 9:52am
Quoting kweiss10
{quote} yup. if we were all right, we would be RICH!!!
If you follow some one, ( even if he has 4 or 5 stars in FF ) you could fall in deep trouble.

I learnt this over and over again, and in GBPUSD analysis too.
Intraday only.
  • #384,384
  • Jun 30, 2014 9:52am Jun 30, 2014 9:52am
GBP is in complete uncharted territory right now, mad.
  • #384,385
  • Jun 30, 2014 9:53am Jun 30, 2014 9:53am
It would be nice if they explain here what has gone wrong in their analysis.
Intraday only.
  • #384,386
  • Jun 30, 2014 9:54am Jun 30, 2014 9:54am
7106 is 161 from 6735 have to look to that i think
  • #384,387
  • Jun 30, 2014 9:57am Jun 30, 2014 9:57am
Quoting elbert3
7106 is 161 from 6735 have to look to that i think

Generally, the price on any pair do not fly on a Monday.

It is generally a retracement day for the move on previous week.

This move suggest that it will drop to 1.7000 at least by Tuesday/Wednesday.
Intraday only.
  • #384,388
  • Jun 30, 2014 10:00am Jun 30, 2014 10:00am
Quoting Darkforce
GBP is in complete uncharted territory right now, mad.
You're kidding, right? Its right on a decent resistance level from 2008 right now.
  • #384,389
  • Jun 30, 2014 10:02am Jun 30, 2014 10:02am
Quoting Nate04
{quote} You're kidding, right? Its right on a decent resistance level from 2008 right now.
Yeah, that's why I am saying it. it can go both ways.
  • #384,390
  • Jun 30, 2014 10:03am Jun 30, 2014 10:03am
Quoting Darkforce
{quote} Yeah, that's why I am saying it. it can go both ways.
Ok, thats very true. Thanks for the clarification...
  • #384,391
  • Jun 30, 2014 10:03am Jun 30, 2014 10:03am
Today's end of June and second quarter. Price movement do not have to make any sense at all.
  • #384,392
  • Jun 30, 2014 10:06am Jun 30, 2014 10:06am
Did not expect a USD massacre

Intensity is overwhelming.
In trading, you have to be defensive and aggressive at the same time
  • #384,393
  • Jun 30, 2014 10:06am Jun 30, 2014 10:06am
added short at 1.7099
CCI34 > 400 on H1 is just too much, I know it's end of the month but..
"The secret of politics? Make a good treaty with Russia." Otto von Bismarck
  • #384,394
  • Jun 30, 2014 10:07am Jun 30, 2014 10:07am
Quoting deltaone
short @1,7055 sl 1,7085
i set my sl and walked away.
meanwhile, it was hit: -30 pips. +-0 today.
starting a new one: short @1,7100, sl 1,7130
fortis fortuna adiuvat
  • #384,395
  • Jun 30, 2014 10:12am Jun 30, 2014 10:12am
Looks like daily 5 wave and 5min in 3 wave. So room to go up. Have some shorts, will add higher.
  • #384,396
  • Jun 30, 2014 10:14am Jun 30, 2014 10:14am
USDX Hourly and weekly.

USDX certainly get killed in the last couple of hours.

Make me think whether we are heading back to 79 on weekly?

There's weak support at 79.75 currently, probably will trigger a small pull back rather than a reversal.

ADP on Wednesday then NFP on Thursday, could be a big week for USD given the shock of -2.9% GDP still echo around.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: USDX Hourly.png Size: 25 KB
Click to Enlarge Name: USDX Weekly.png Size: 31 KB
  • #384,397
  • Jun 30, 2014 10:16am Jun 30, 2014 10:16am
Prolly upto 1.7126 before some down
  • #384,398
  • Jun 30, 2014 10:16am Jun 30, 2014 10:16am
Quoting JimmyC
{quote} I've mentioned that this particular setup is in formation (technical structure cup and handle) Given that the formation is now in play... aggressive traders can go long now or on any pull-backs to 1.7 area Conservatively you could trade the break of 1.703xxx Belts and braces with best R/R wait for the break and then test of 1.703 SL 1.699 absolute = pattern fail.... or risk / reward of your choice Target and close not hold or trail is 1.71060 no extension target as this is a sell zone for sure... This is a high probability setup if price...
Good day,

Cup and Handle setup, patience paid, TP @ 71060 measured target, Daily confirms triangle continuation pattern, This pair remains bullish but due to negative swap I'm not willing to trail
Closed and flat here remain long carry trade AU

GU 1H
Attached Image



GU Daily
Attached Image
  • #384,399
  • Jun 30, 2014 10:16am Jun 30, 2014 10:16am
Quoting elbert3
7106 is 161 from 6735 have to look to that i think
go with the plan 7106 1 lot ???? --
  • #384,400
  • Jun 30, 2014 10:17am Jun 30, 2014 10:17am
Hello

Why is it that GBP/USD does not sell after the USD Pending Home Sales came better than expected,
adesam
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