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Cable Update (GBPUSD)

  • #411,061
  • Mar 8, 2015 5:36am Mar 8, 2015 5:36am
Quoting Lavanda
{quote} My piece of advice, do not compare EU and GU.. they are different animals...Their behaviour is not the same. Maybe the result after months is similar but intraday is not the same... Cable has needed one green month to cross 1,50 ( maybe) Big pullback of 500 points... The pound is not so waek as the Euro. At the moment when USDX will show a litlle weakness the awakening of the pound will be harder than the Euro... ( I think) . Never try to make comparisons with the EU and GU. If so EUR/GBP never nearly will move. When NY opens, you fell similar...
Yes, correlation is not perfect. Sometimes is very high and other times low but in median is high. And it's true currencies are affected for many things. It's evident this strong USD movement is an anticipation of USD hike rates. And that movement is mainly motive for force down others currencies even if that economies are strong. I said when last gbp rally, while euro don't up is impossible GBP sustain that rally much time. I don't have good base for this affirmation. Only knowledge of trading all days and seeing past reactions.
And i remember when people said eur will go 1.23. I thinked impossible but now we are near parity. Some people here have very good information i think. And that people said gbp will go around 1.40 or less if eur have parity or less. But you know, all my predictions are not reliable. I'm still learning about forex...
Try don't lose pants never...
  • #411,062
  • Mar 8, 2015 10:50am Mar 8, 2015 10:50am
Inserted Video
"W. D. Gann said that time is the most important factor among all things."
  • #411,063
  • Mar 8, 2015 11:01am Mar 8, 2015 11:01am
Quoting Zappa
Would not be surprised to see a big gap down, followed by a steep drop this week. Maybe something like the chart. Sellers are still strong down here, and there is barely a buyer to be seen. All other major pairs look likely to continue in same direction for time being. This roller coaster could be about to make a big drop! Will target 1.4350 {image}
I expect more down in Asia session.

But a retracement on cards in London and /or NY session.
Intraday only.
  • #411,064
  • Mar 8, 2015 11:09am Mar 8, 2015 11:09am
Quoting navk
{quote} I expect more down in Asia session. But a retracement on cards in London and /or NY session.
You have any levels on this
A good trader follows his rules, but great trader knows when to break them
  • #411,065
  • Mar 8, 2015 11:11am Mar 8, 2015 11:11am
the weekly chart is very bearish ,i think 1.48xx on the way next week .
@Aymankkhlifat
  • #411,066
  • Mar 8, 2015 11:30am Mar 8, 2015 11:30am
Quoting ill_be_back
{quote} You have any levels on this
will post after asia open.
Intraday only.
  • #411,067
  • Mar 8, 2015 11:37am Mar 8, 2015 11:37am
Quoting forexpipss
the weekly chart is very bearish ,i think 1.48xx on the way next week .
Agreed, 1.48xx is where price is looking to head this week. ADX is rising, moving averages are sloping down, and everything seems to be confirming the confirmation of bearish moment this week. I will be looking for a good entry toward the beginning of this week.
  • #411,068
  • Mar 8, 2015 5:37pm Mar 8, 2015 5:37pm
GBPJPY looking very bearish, while USDJPY looking very bullish. This can mean only one thing for GBPUSD.
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  • #411,069
  • Mar 8, 2015 5:41pm Mar 8, 2015 5:41pm
Quoting Zappa
GBPJPY looking very bearish, while USDJPY looking very bullish. This can mean only one thing for GBPUSD. {image} {image}
a drop I hope
  • #411,070
  • Mar 8, 2015 5:52pm Mar 8, 2015 5:52pm
Quoting Shai1122
{quote} a drop I hope
That's what market is telling me. We'll see.

Should NOT go above 1.5230 if we do find some buyers down here before a break.

If real buyers appeared, though unlikely, I reckon I'll be able to recognize it and get out of a short position long before 1.5230 gets hit. So far there's nothing down here. Seems like just a pause to see if any small traders are dumb enough to buy.
  • #411,071
  • Mar 8, 2015 6:04pm Mar 8, 2015 6:04pm
Long. Stop 5030
Intraday only.
  • #411,072
  • Mar 8, 2015 6:05pm Mar 8, 2015 6:05pm
And looks like we got some takers!

Haha...well, we'll need more of that if this is going to turn. So far, that buy means nothing, IMO.
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  • #411,073
  • Mar 8, 2015 6:06pm Mar 8, 2015 6:06pm
Quoting Zappa
And looks like we got some takers! Haha...well, we'll need more of that if this is going to turn. So far, that buy means nothing, IMO. {image}
I am stopping at low./ open
Intraday only.
  • #411,074
  • Mar 8, 2015 6:09pm Mar 8, 2015 6:09pm
Quoting navk
{quote} I am stopping at low./ open
No, it's not the worst trade. R/R is amazing. I just think its premature, but hell, maybe I'm the dumbass here!
  • #411,075
  • Mar 8, 2015 6:14pm Mar 8, 2015 6:14pm
Quoting Zappa
{quote} No, it's not the worst trade. R/R is amazing. I just think its premature, but hell, maybe I'm the dumbass here!
Already took a quick 13 pip with larger lot. and closed in EU.

Will concentrate in GU today.
Intraday only.
  • #411,076
  • Mar 8, 2015 6:19pm Mar 8, 2015 6:19pm
Quoting navk
{quote} Already took a quick 13 pip with larger lot. and closed. Will concentrate in GU today.
Good job, navk!

Its an exciting pair right now, because up or down the move is almost assured to be big. If these are real buyers and we are in process of reversing, the move up will be HUGE. If we go much lower than where we are now, we'll break some longstanding lows, and I imagine we'll be down fairly quickly to test the next one at 1.4220.
  • #411,077
  • Mar 8, 2015 6:20pm Mar 8, 2015 6:20pm
Quoting Zappa
{quote} Good job, navk! Its an exciting pair right now, because up or down the move is almost assured to be big. If these are real buyers and we are in process of reversing, the move up will be HUGE. If we go much lower than where we are now, we'll break some longstanding lows, and I imagine we'll be down fairly quickly to test the next one at 1.4220.
Stopping at today open.low is important.
Intraday only.
  • #411,078
  • Mar 8, 2015 6:25pm Mar 8, 2015 6:25pm
If it breaks today's low, the target is 1.4970/80
Intraday only.
  • #411,079
  • Mar 8, 2015 6:26pm Mar 8, 2015 6:26pm
Looking on the GBPJPY chart, I'm betting on a downside move for the pound. Going short if we break below 1.5, in which case we're likely headed to around 1.425. I have a small short open now too, will be looking to add to the position.
  • #411,080
  • Mar 8, 2015 7:04pm Mar 8, 2015 7:04pm
Quoting takari
Looking on the GBPJPY chart, I'm betting on a downside move for the pound. Going short if we break below 1.5, in which case we're likely headed to around 1.425. I have a small short open now too, will be looking to add to the position.
Same exact thing I'm doing. I got 5 lots at 1.5059. Looking to double that once I feel confident enough to lower the stop price.
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