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Cable Update (GBPUSD)

  • #388,061
  • Jul 18, 2014 12:51pm Jul 18, 2014 12:51pm
Yeap both bull and bear want it
Attached Image
  • #388,062
  • Jul 18, 2014 12:56pm Jul 18, 2014 12:56pm
of course break of bottom confirms bearish pattern ,
a consolidation pattern,


Quoting DailyChart
Yeap both bull and bear want it {image}
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: gbp usd w1 (DFB).png Size: 33 KB
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  • #388,063
  • Jul 18, 2014 1:03pm Jul 18, 2014 1:03pm
Quoting OnlineAddict
{quote} Its normal for both sellers and buyers to take profit, but thats why we see those 30-60% pullbacks. Thats a normal pullback within a trend continuation. An almost 100% pullback is not taking profit, imho.
But you're forgetting the HIGH of the day from where it started falling. Pull a fib from today's high to low. Ok never mind, I did it here. What % pullback do you see? It ain't 100% ..... Just saying....

I called this pullback hours before it happened. How? PA "Structure". Funny how it's now rolling over at that point. Odd....no? But hey, to each our own. Many ways to look at it I guess.

Quoting albchr
{quote} Excellent Lalu .. I think you'll get your bounce. This level it's testing is strong but maybe not enough for US news. {image}
Quoting albchr
{quote} I'm liking the look of G/CAD so far and Lalu, I think your bounce is good. Should test at least 1.70843 me thinks. {image} {image}
Attached Image (click to enlarge)
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  • #388,064
  • Jul 18, 2014 1:04pm Jul 18, 2014 1:04pm
Quoting cspip
{quote} You too I'm thinking higher too, but a little lower first maybe..... Just some crazy things happening around the world (which is usual for this crazy world)........gaps everwhere, best to stay out till next week
Thanks I meant to say I expect to see push to multi year highs on the GU

Hope everybody made some cash this week.

Tchau
  • #388,065
  • Jul 18, 2014 1:07pm Jul 18, 2014 1:07pm
Quoting albchr
I called this pullback hours before it happened. How? PA "Structure". Funny how it's now rolling over at that point. Odd....no?
Which pullback do you mean? From 7040 to 7090? Anyway, I'm off to get some rest, next week will tell, anyway.
Everyone can see the chart, but only a few can actually read it.
  • #388,066
  • Jul 18, 2014 2:48pm Jul 18, 2014 2:48pm
If a rumor that carney was going to give a dovish interview could bring down GU like it did today, does that not show how much steam the bulls have lost and the bears are stepping up?
  • #388,067
  • Jul 18, 2014 3:17pm Jul 18, 2014 3:17pm
Quoting kweiss10
If a rumor that carney was going to give a dovish interview could bring down GU like it did today, does that not show how much steam the bulls have lost and the bears are stepping up?

sorry , but what about this interview when it will be publish if it is a fact and where?
can anyone illustrate
  • #388,068
  • Jul 18, 2014 4:20pm Jul 18, 2014 4:20pm
Quoting albchr
{quote} But you're forgetting the HIGH of the day from where it started falling. Pull a fib from today's high to low. Ok never mind, I did it here. What % pullback do you see? It ain't 100% ..... Just saying.... I called this pullback hours before it happened. How? PA "Structure". Funny how it's now rolling over at that point. Odd....no? But hey, to each our own. Many ways to look at it I guess. {quote} {quote} {image}
Yeah, Weekly close (my end) looks bearish after the daily consolidation.
Yellen doing a good job of stagnating this market if taking a Fundy view IMO.
Come with me if you want to live....
  • #388,069
  • Jul 18, 2014 4:29pm Jul 18, 2014 4:29pm
Quoting kweiss10
If a rumor that carney was going to give a dovish interview could bring down GU like it did today, does that not show how much steam the bulls have lost and the bears are stepping up?
Hard to trust that guys view, he flips and contorts his message at will.
First he's watching data (cool), data significantly improves but wants to see consistency (yep no probs), then he says pound may get rate hike EARLIER than market expects ( after rate hike market squawks left right and centre) and Pound nearing post crisis highs??)??? lol....

Now he's Dovish????

Fkc Carkey
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  • #388,070
  • Jul 18, 2014 8:18pm Jul 18, 2014 8:18pm
Quoting OnlineAddict
{quote} I think the same, they want to trap people into shorts and then spike it up to new highs.

By breaking 17043 that exact pip it broke the quarterly level so it should now make a lower low... targeting 1st stop 16995.. there wil be some whipsaw action because of the doji it made but ultimately stoch cycles are in sync for it to go down but more important is we broke the quarterly support at 17043... will be very surprised if we make higher highs in the short term now
  • #388,071
  • Jul 19, 2014 8:17am Jul 19, 2014 8:17am
Quoting RussJ
{quote} By breaking 17043 that exact pip it broke the quarterly level so it should now make a lower low... targeting 1st stop 16995.. there wil be some whipsaw action because of the doji it made but ultimately stoch cycles are in sync for it to go down but more important is we broke the quarterly support at 17043... will be very surprised if we make higher highs in the short term now
I remember when we were below 1.68, breaking supports, making new lows...we learned the hard way, that cable doesn't have any rules...it can go down every day of the week and then make twice of a move in the opposite direction in a few hours. In the last 6-8 months, this has been going on every week...cable goes down by 50 pips and everybody sees a trend change already. I don't see a reason for it to turn now, before 7250. And every retailer waits for 1.69 to go long, so we can either go up first to get all their SLs or if we go down and everybody jumps on the long train, it will keep falling. Majority of retail simply never wins, thats why I won't long euro yet, because 2/3 are long.
Everyone can see the chart, but only a few can actually read it.
  • #388,072
  • Jul 19, 2014 11:19am Jul 19, 2014 11:19am
Quoting OnlineAddict
{quote} I remember when we were below 1.68, breaking supports, making new lows...we learned the hard way, that cable doesn't have any rules...it can go down every day of the week and then make twice of a move in the opposite direction in a few hours. In the last 6-8 months, this has been going on every week...cable goes down by 50 pips and everybody sees a trend change already. I don't see a reason for it to turn now, before 7250. And every retailer waits for 1.69 to go long, so we can either go up first to get all their SLs or if we go down and...

Depends on what people are viewing as support but 17043 to the pip is a quarterly level. once that breaks as it did by a few pips its a game changer, but only time will tell
  • #388,073
  • Jul 19, 2014 11:29am Jul 19, 2014 11:29am
Quoting OnlineAddict
{quote} I remember when we were below 1.68, breaking supports, making new lows...we learned the hard way, that cable doesn't have any rules...it can go down every day of the week and then make twice of a move in the opposite direction in a few hours. In the last 6-8 months, this has been going on every week...cable goes down by 50 pips and everybody sees a trend change already. I don't see a reason for it to turn now, before 7250. And every retailer waits for 1.69 to go long, so we can either go up first to get all their SLs or if we go down and...
I noticed this as well. Conspiracy? Biggest up moves were triggered by Carney.It looks as if big money is holding back until the guy speaks then unload in massive volume.
I have no doubt Carney former Goldman Sachs employee knows all to well what manipulation is.
In trading, you have to be defensive and aggressive at the same time
  • #388,074
  • Jul 19, 2014 11:59am Jul 19, 2014 11:59am
Quoting Davit
{quote} I noticed this as well. Conspiracy? Biggest up moves were triggered by Carney.It looks as if big money is holding back until the guy speaks then unload in massive volume. I have no doubt Carney former Goldman Sachs employee knows all to well what manipulation is.
I'm sure Carney and his buddies are trading this. lol Anyway, for me, a trend changer will be visible on the chart, like it was on euro, after 1.3990, there was a massive rejection, in other words, some huge short orders were filled. When the same happens in Cable, I will try to ride it down. But so far...last week closed at 7110, this week closed at 7085, thats 25 pips lower, I don't see any rejection there, other than from a few retailers who went short. Not saying it can't go lower or even break 1.70, but I see it as a buy opportunity until some whale steps in and starts selling. I will have pending shorts at 7205, 7250 and 7330.
Everyone can see the chart, but only a few can actually read it.
  • #388,075
  • Jul 19, 2014 12:01pm Jul 19, 2014 12:01pm
Quoting RussJ
{quote} Depends on what people are viewing as support but 17043 to the pip is a quarterly level. once that breaks as it did by a few pips its a game changer, but only time will tell
So was 1.6750, important level, it even broke down below 6740 for a few seconds...just to trigger some longs and the move up wasn't even that big, it only went to 6780 the next day, but it slowly build up to break 1.7 just 2 days later. Just like now from below 7040 towards 7090. I would be cautious, thats all. But if we go back below 7040 again, then 1.7 is history, of course, then a good long will be lower.
Everyone can see the chart, but only a few can actually read it.
  • #388,076
  • Jul 19, 2014 12:45pm Jul 19, 2014 12:45pm
GBPUSD is ready for 1.73 - Are you?

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  • #388,077
  • Jul 19, 2014 1:04pm Jul 19, 2014 1:04pm

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Ghost Rider - WWTBMD?
  • #388,078
  • Jul 19, 2014 8:21pm Jul 19, 2014 8:21pm

Quoting SpotPip
GBPUSD is ready for 1.73 - Are you? {image}


Not ruling it out as anything is possible but be very surprised now 17043 is broken!!! Maybe see some whipsaw and people get locked in longs who try to higher high of the daily doji, indecision candle but that's why I think we may see some whipsaw action but pre dominantly I see next areas as 1.6995 and 1.6925 in my opinion of course
  • #388,079
  • Jul 19, 2014 10:11pm Jul 19, 2014 10:11pm
Quoting samooh
{quote} sorry , but what about this interview when it will be publish if it is a fact and where? can anyone illustrate
when you a say the storm is coming at this time does it always come at that time. this rumour( or should we say there is such an interview) was leaked exactly before NY cut for some sellers to take profit at 7050. there is definitely an interview done but now that the whole market knows it it won't be published now.
  • #388,080
  • Jul 20, 2014 3:20am Jul 20, 2014 3:20am
Quoting SpotPip
GBPUSD is ready for 1.73 - Are you? {image}
After finding support, it could well do
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: GBPUSDDaily.png Size: 22 KB
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