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Cable Update (GBPUSD)

  • #391,041
  • Aug 2, 2014 9:24am Aug 2, 2014 9:24am
Quoting RussJ
16787 I'm seeing is a pullback for 150 pips.. 16787 too 16937 then continuation short.. break of 167 at the end of the week
Hi Russ long time,,hope you ok,,looks like we can see same numbers if it breaks 811,,give or take a few pips ,
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,Regards E
  • #391,042
  • Edited 9:47am Aug 2, 2014 9:34am | Edited 9:47am
Quoting Mr. Scott
{quote} Hi Bones, So I ask, as I look your USD chart. Maybe since G is around, he will weigh in? {image} {image} {image}
what about this potential look after nfp....
1. inverse hs needs to complete and penetrate and stay above 1297...target 1313
2. smaller bearish cypher forming if one is completed (1316)
3. bigger bearish cypher if staying above 1318...target 1332

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Wooooohooooo or Boooooohooooo
  • #391,043
  • Aug 2, 2014 10:08am Aug 2, 2014 10:08am
Quoting elbert3
{quote} Hi Navk,just looking 4 hour would be pinch/double bottom or confirm return long to 72 top tl, a break would be 6775, {image} if,,,if we take the week look left,,,Mr Scott taught me that,, support could be 6775 area then up,, on the day the 200 sould be aroung 775- 750 area ,,regardsE {image}

whatever system you follow is fine to confirm reversal.

But as long as 1.6810 is not broken, it is the current bottom in 4 hr chart.

I have my own system to confirm short term trend reversal.
Intraday only.
  • #391,044
  • Aug 2, 2014 10:14am Aug 2, 2014 10:14am
are you trading gold ?
when cable presents much better opportunity

Quoting Mr. Scott
{quote} Hi Bones, So I ask, as I look your USD chart. Maybe since G is around, he will weigh in? {image} {image} {image}
Attached Image (click to enlarge)
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #391,045
  • Aug 2, 2014 10:28am Aug 2, 2014 10:28am
or maybe not if the w1 fails straight off bat on eu


Quoting Zircon
{quote} if not a reversal? , gonna see a pullback at least ..maybe
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #391,046
  • Aug 2, 2014 10:32am Aug 2, 2014 10:32am
more convincing bear
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #391,047
  • Aug 2, 2014 10:33am Aug 2, 2014 10:33am
poss thats break

Quoting Bones
or maybe not if the w1 fails straight off bat on eu {quote} {image}
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #391,048
  • Aug 2, 2014 10:45am Aug 2, 2014 10:45am
Quoting elbert3
{quote} Hi Russ long time,,hope you ok,,looks like we can see same numbers if it breaks 811,,give or take a few pips ,{image},Regards E

Hey Elbert, all good thanks, yes am expecting it so be supported at 16787.... expect it to get too 16936 then... then expect shorts to come in and finish below 167 at end of week
  • #391,049
  • Aug 2, 2014 10:51am Aug 2, 2014 10:51am
Quoting RussJ
{quote} Hey Elbert, all good thanks, yes am expecting it so be supported at 16787.... expect it to get too 16936 then... then expect shorts to come in and finish below 167 at end of week
good man,, have a good weekend,, wine time and dinner ,,gk,,Billy
  • #391,050
  • Aug 2, 2014 10:51am Aug 2, 2014 10:51am
here's my 2cents on gu
levels n tl to keep in mind....
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Wooooohooooo or Boooooohooooo
  • #391,051
  • Aug 2, 2014 11:17am Aug 2, 2014 11:17am
I guess one of the levels will be right

Quoting gnomoneey
here's my 2cents on gu levels n tl to keep in mind.... {image}
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  • #391,052
  • Aug 2, 2014 11:19am Aug 2, 2014 11:19am
eu poss we will break higher but I'm looking short

Quoting Bones
eu outlook , {quote} http://www.forexfactory.com/showthre...32#post7612432 {image}
Attached Image (click to enlarge)
Click to Enlarge Name: eur USD d1 pullback , (DFB).png Size: 39 KB
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  • #391,053
  • Aug 2, 2014 11:33am Aug 2, 2014 11:33am
The volume (or activity) on Friday on my platform was larger than any of the previous 30 days.

The last time I posted this, cable rose 400 pips, interestingly high volume has come in at the top of that same high volume daily bar in early June.

Furthermore after looking at the monthly chart I don't think this is going down that easily, I will build longs from here then see what august monthly bar looks like.
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  • #391,054
  • Aug 2, 2014 11:33am Aug 2, 2014 11:33am
Quoting Bones
I guess one of the levels will be right {quote}
Sorry
what I meant to say was price should attract to that tl and the red rectangles are areas of interest along with fibs from last double bottom
Wooooohooooo or Boooooohooooo
  • #391,055
  • Aug 2, 2014 11:54am Aug 2, 2014 11:54am
Quoting slimcat
The volume (or activity) on Friday on my platform was larger than any of the previous 30 days. The last time I posted this, cable rose 400 pips, interestingly high volume has come in at the top of that same high volume daily bar in early June. Furthermore after looking at the monthly chart I don't think this is going down that easily, I will build longs from here then see what august monthly bar looks like. {image}
It won't go down easily and will need good reason to sell GBP and buy Dollar or will depend on Dollar strength for the exchange rate to go down. Anyway, it's nearing demand zone as shown in your chart either will be absorbed or accumulation yet to be seen next week.
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  • #391,056
  • Edited 12:10pm Aug 2, 2014 11:55am | Edited 12:10pm
Good chance for a pullback play on cable

We have broken the 2009 & < resistance and now and the market is giving us the chance given the little down turn from NFP figures on Friday from the US. Coming up we have UK construction PMI first thing on the docket. We are hitting a level support based from longer timeframes. Have entered a position here and will add more given the confirmation of the news.
-Will add more if news confirms price bullishness
-Overall monetary policy still quite hawkish for GBP

Cable likely just to pivot the 1.7 level looking ahead given the overall current fundamental situation and prospect for growth.
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All posts are my personal opinion
  • #391,057
  • Aug 2, 2014 12:11pm Aug 2, 2014 12:11pm
Quoting slimcat
The volume (or activity) on Friday on my platform was larger than any of the previous 30 days. The last time I posted this, cable rose 400 pips, interestingly high volume has come in at the top of that same high volume daily bar in early June. Furthermore after looking at the monthly chart I don't think this is going down that easily, I will build longs from here then see what august monthly bar looks like. {image}
Are heads in the exact same place my friend.
All posts are my personal opinion
  • #391,058
  • Aug 2, 2014 12:11pm Aug 2, 2014 12:11pm
Quoting Ken A
{quote} It won't go down easily and will need good reason to sell GBP and buy Dollar or will depend on Dollar strength for the exchange rate to go down. Anyway, it's nearing demand zone as shown in your chart either will be absorbed or accumulation yet to be seen next week. {image}
All posts are my personal opinion
  • #391,059
  • Aug 2, 2014 12:17pm Aug 2, 2014 12:17pm
Quoting Rtm
{quote} Are heads in the exact same place my friend.


lets hope the big boys do too...
  • #391,060
  • Aug 2, 2014 12:36pm Aug 2, 2014 12:36pm
Quoting Bones
I am short {image}
Shorted 10458 myself....
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