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Cable Update (GBPUSD)

  • #411,941
  • Mar 19, 2015 6:10pm Mar 19, 2015 6:10pm
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  • #411,942
  • Mar 19, 2015 6:26pm Mar 19, 2015 6:26pm
Quoting Bones
looks mighty bullish to me ,btw its not a pin {image}
Yes if anything, the downside now looks more limited than few days ago!!

Nice to see you ... Such a long time!! a lot of old users quite disappeared ! Me too btw. not simple keep being here there everywhere
90% of traders use TA, indicators and prediction
  • #411,943
  • Mar 19, 2015 6:27pm Mar 19, 2015 6:27pm
Side note lol, similar set ups across the majors atm it seems , other than usd/cad. Its upside down lol
  • #411,944
  • Mar 19, 2015 7:06pm Mar 19, 2015 7:06pm
Thought I should clarify the channel I was referring to in previous post , it was a 4 hour channel , the little one with red x s in it shown here on a daily chart, It is still in the daily channel but may be working to get to the top of it , least Im trading that way atm , The white box is the bottom of this years Jan and Febs monthly candles or the 1.50 or so level.
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  • #411,945
  • Mar 19, 2015 7:32pm Mar 19, 2015 7:32pm
Fundamentally I just dont see GBP rising 1000 pips, even if monthly chart supports it.

UK election is coming closer, outcome either way may be bad for GDP

GDP is too strong relative to Euro

Regardless of what Yellen said, the market believes she is closer to raising rates than BoE. And since Target, Walmart, TJ Max, etc are all raising wages wage inflation may come soon, even if US economy is still pretty bad

Oil is about to drop even further as storage goes over capacity. What will that do to every oil exporters currency, and inversely, the dollar?

Props if you recognize the above and STFR yesterday for a massive 24 hour profit of 200 pips.

Some see a bullish reversal candle yesterday. I see a massive 500 pip move wiped out with a half life of 12 hours. I just dont see that as bullish.
  • #411,946
  • Mar 19, 2015 8:01pm Mar 19, 2015 8:01pm
Quoting RobertCorey
Fundamentally I just dont see GBP rising 1000 pips, even if monthly chart supports it. UK election is coming closer, outcome either way may be bad for GDP GDP is too strong relative to Euro Regardless of what Yellen said, the market believes she is closer to raising rates than BoE. And since Target, Walmart, TJ Max, etc are all raising wages wage inflation may come soon, even if US economy is still pretty bad Oil is about to drop even further as storage goes over capacity. What will that do to every oil exporters currency, and inversely, the dollar?...
Ha, don't get me wrong I am not a raging bull by any means , It aint going up far at all unless it gets back above 1.50 but I am not going to hold shorts when it could test it a few times while the usd gets a breather, Im sure there is some exporters here in the states crying like a river , they need a little bit of a breather for a bit too, If the market found out how bad the books where reallycooked here it would be a different story too lol. Yes that was a nice short yesterday, I had orders staggered 5050 to 5090, very small more or less for grins and chuckles, would have been a little painful for a few hours with normal trade size. Daily close below the 1.50 mark they grew a bit till we got back to where it started , Not feeling bullish just a little bouncy
  • #411,947
  • Mar 19, 2015 9:28pm Mar 19, 2015 9:28pm
we have to analyze today's target., remember this is weekend, today there is GBP news 'Public Sector Net Borrowing' will release after the Tokyo close, that is the only one GBP'S economical report today according to economical calendar.
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  • #411,948
  • Mar 19, 2015 9:33pm Mar 19, 2015 9:33pm
You mentioned fundies, Im just a simple farmer really dont have the time to even attempt to calculate the gdp and this and that for every country. Old timer told me once and Im sure everyone has heard it at one time or another everything eventually comes out in the charts. This is just a simple daily chart of the gbp. We have had the same news reports week after week, month after month , quarter after quarter. Sure my lines aren't right for the professionals but when the fundies change for a country then you will have support lines going the other way. That little circle at the top was where it dropped below the daily 200ema (averages seem to get a bad rap lol) then tested it and went on its way down. As stated Im sure my lines aren't were the pros put them but they are good reference points for me. They have made trading a whole lot more profitable and consistent for me . My hats off to the ones that can zing these back and forth daily . Didnt mean to bore anyone the jest is when the fundies change so will the charts. I dont think the usd is really in that good of shape. Took me a while to figure out trading what I think kills accts tho so I try not to do that . The gbp is just stuck between 2 levels atm nothing more nothing less in my view. Anyhow , good trading all.
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  • #411,949
  • Mar 19, 2015 9:49pm Mar 19, 2015 9:49pm
Seems the grain prices would be a little better for me if it didnt cost so much to export it atm. Least fuel is cheaper atm lol
  • #411,950
  • Mar 19, 2015 10:26pm Mar 19, 2015 10:26pm
Quoting _BBKing_
mkt challenging daily open / close etc anybody bought the 4700? {image}
Yeah bought 14710 stopped by 3 pips.. had stop loss 14690 went too 14687... target was 14845.. as expect that to be the short point to get too next levels of 14536/14428
  • #411,951
  • Mar 20, 2015 12:07am Mar 20, 2015 12:07am
Interesting Chart Daily GBP

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Four Month trend up
Monthly Retrace Down.
affected with GBP vs USD.
  • #411,952
  • Mar 20, 2015 12:35am Mar 20, 2015 12:35am
I am looking for a short :

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Money moves the market, not an indicator.
  • #411,953
  • Mar 20, 2015 1:49am Mar 20, 2015 1:49am
im waiting for price to drop then i will buy
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  • #411,954
  • Mar 20, 2015 2:47am Mar 20, 2015 2:47am
Morning doji star in M30
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  • #411,955
  • Mar 20, 2015 2:54am Mar 20, 2015 2:54am
Sell 14850 buy 14538...


Short term awaiting entry.. think it will be short.. makes more sense to hit 14538 then retrace too 14850 then continue downwards but not ruling today upward move.. but will need to see break of 1473 area.. new short term high before entering... think more likely to enter a short on a retrace at 14743/45 targeting 14538
  • #411,956
  • Mar 20, 2015 2:57am Mar 20, 2015 2:57am
Quoting bdfs07
im waiting for price to drop then i will buy {image}

Am awaiting your level and will take the short on the retrace at 14743/45... the higher level of 14850 I do want but only see that happeni9ng after 14538 hits
  • #411,957
  • Mar 20, 2015 3:07am Mar 20, 2015 3:07am
Quoting RussJ
Sell 14850 buy 14538... Short term awaiting entry.. think it will be short.. makes more sense to hit 14538 then retrace too 14850 then continue downwards but not ruling today upward move.. but will need to see break of 1473 area.. new short term high before entering... think more likely to enter a short on a retrace at 14743/45 targeting 14538
London opening always falls about 15 pips, or starts a fall rally as it has been. I myself just do a scalping. The pair is with great downward trend, have to have consensus to see some standard candles.Waiting for a good entry also for whiling away the order
  • #411,958
  • Mar 20, 2015 3:19am Mar 20, 2015 3:19am
Quoting RussJ
{quote} Am awaiting your level and will take the short on the retrace at 14743/45... the higher level of 14850 I do want but only see that happeni9ng after 14538 hits
sclaped for 30 pips in short, now watching 4705 for buy opportunity target 4792
  • #411,959
  • Mar 20, 2015 3:21am Mar 20, 2015 3:21am
morning 4723 order filled , lets see if this now is the bottom, fail below the low then yes 4500 4300 is poss,, long number targets fail the blue tl by the look of it,, emas are short ?? i too the longs off before at 4770 as it was resisting , sl and short to manage
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  • #411,960
  • Mar 20, 2015 3:31am Mar 20, 2015 3:31am
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