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Cable Update (GBPUSD)

  • #413,341
  • Edited 6:12am Apr 15, 2015 6:01am | Edited 6:12am
Regarding ECB stimulus: difference between "expected" (before) and "intended" (recent). Not a good signal for the Euro. Draghi loves his technicalities on his words, but these "changes" are pretty significant.

Also, consider that the eur/usd is STILL below its 100 day moving average.

I'm short euro, short pound sterling.

Targeting 1.46400, 1.4600, 1.4530/20 for the cable.

Update: Euro just spiked past the 100 MA. I may close shorts early depending on the movements.
  • #413,342
  • Apr 15, 2015 6:13am Apr 15, 2015 6:13am
negation big wave 4 pink if broke 14815
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD_H1.gif Size: 183 KB
  • #413,343
  • Apr 15, 2015 6:17am Apr 15, 2015 6:17am
surely a break above 1.48 would be really bullish, could push us back to 496 levels, no?
I'm high on trading, cant you tell?
  • #413,344
  • Apr 15, 2015 6:20am Apr 15, 2015 6:20am
Quoting Sammih
{quote} GL mate. Though id love to understand your POV
I was gonna long GU until 1.5094 up to yesterday. But failure at the high to surpass 1.48 and quick movement down to 1.47 made me think that time is not ripe yet for GU to rise before making a newer low - yesterday's move was just retrace & profit taking. Even today with bad news from US as of yesterday holding and further bad news, it struggles to overcome the daily open. Earlier move up was more of an EG thing.

Of course above 1.4830-50 it's not becoming really bullish but might do a higher retrace (1.50-1.52) which it needs for further targets down at 1.43 & 1.38. After the last two weeks I believe as I said a few weeks ago (pre-fomc) that we might take quite a while before seeing 1.5 again in front.
  • #413,345
  • Apr 15, 2015 6:21am Apr 15, 2015 6:21am
Quoting Dano12
negation big wave 4 pink if broke 14815 {image}
that about the 61% of yesterdays move could be a short selling there if it gets there
  • #413,346
  • Apr 15, 2015 6:26am Apr 15, 2015 6:26am
Quoting Sammih
{quote} I just bought this pair, look at my chart......I like this set-up, how do you like it? {image}
Hi, sorry for late reply, just noticed it.
1.479sh is resistance to break, if can break it i will be more bullish on GU
My 2 cents only
  • #413,347
  • Apr 15, 2015 6:27am Apr 15, 2015 6:27am
Quoting Sammih
surely a break above 1.48 would be really bullish, could push us back to 496 levels, no?
Not necessarily. ~1.48200/150 is what I'd consider the next resistance. 1.48 itself isn't too clear.

Honestly, it's up to the euro (and a bit of the canadian dollar) now. If the dollar still tops out over both in the coming hours, then the cable should also fall by association.
  • #413,348
  • Apr 15, 2015 6:31am Apr 15, 2015 6:31am
Quoting Idkurv
{quote} Hi, sorry for late reply, just noticed it. 1.479sh is resistance to break, if can break it i will be more bullish on GU My 2 cents only
I am expecting 1.495 btw
Will see
  • #413,349
  • Apr 15, 2015 6:31am Apr 15, 2015 6:31am
Quoting Idkurv
{quote} Hi, sorry for late reply, just noticed it. 1.479sh is resistance to break, if can break it i will be more bullish on GU My 2 cents only
I agree, 1.48 might hold, only just, if it breaks its value to pyramid in......but I think it will break, on the dailies its quite a small level....
I'm high on trading, cant you tell?
  • #413,350
  • Apr 15, 2015 6:34am Apr 15, 2015 6:34am
Quoting Idkurv
{quote} I am expecting 1.495 btw Will see
482 is significant yes as @Vermillion says, and a break above that, well, buy all the dips.... we'll see
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDH48.png Size: 51 KB
I'm high on trading, cant you tell?
  • #413,351
  • Apr 15, 2015 6:43am Apr 15, 2015 6:43am
see can be broken and only false sl hunt
  • #413,352
  • Apr 15, 2015 6:58am Apr 15, 2015 6:58am
its a very tricky chart isn't it Scott ,I mean dare I say I'm bullish Jpy ,but so much res

Quoting Mr. Scott
{quote} We had two in disguise on H4, really evil. But they were there. One on daily. {image}
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #413,353
  • Apr 15, 2015 7:43am Apr 15, 2015 7:43am
Quoting Dano12
negation big wave 4 pink if broke 14815
Have been away the whole day. Looking at 4H and Daily. 1.4815 can be the limit and then down. Will see.
  • #413,354
  • Apr 15, 2015 7:52am Apr 15, 2015 7:52am
Quoting Vermillion
{quote} Not necessarily. ~1.48200/150 is what I'd consider the next resistance. 1.48 itself isn't too clear. Honestly, it's up to the euro (and a bit of the canadian dollar) now. If the dollar still tops out over both in the coming hours, then the cable should also fall by association.
Glorious profits from 1.48100 short. I knew it right when Draghi mentioned his change in wording about his "expectations" of the QE.

Quoting Vermillion
Regarding ECB stimulus: difference between "expected" (before) and "intended" (recent). Not a good signal for the Euro. Draghi loves his technicalities on his words, but these "changes" are pretty significant. Also, consider that the eur/usd is STILL below its 100 day moving average. I'm short euro, short pound sterling. Targeting 1.46400, 1.4600, 1.4530/20 for the cable. Update: Euro just spiked past the 100 MA. I may close shorts early depending on the movements.
Update: Locked in 18 pips in profits. Now I'll just let it run, and move SL accordingly if we keep going down.
  • #413,355
  • Apr 15, 2015 7:53am Apr 15, 2015 7:53am
Quoting LouiseZA
{quote} Have been away the whole day. Looking at 4H and Daily. 1.4815 can be the limit and then down. Will see.

possible with fake broken
  • #413,356
  • Apr 15, 2015 8:43am Apr 15, 2015 8:43am
now only US session, UJ to look and SP500 correlation
  • #413,357
  • Apr 15, 2015 8:47am Apr 15, 2015 8:47am
GU try to break above again..
  • #413,358
  • Apr 15, 2015 10:18am Apr 15, 2015 10:18am
Quoting Idkurv
GU try to break above again..
You got it....1.4823
  • #413,359
  • Apr 15, 2015 10:23am Apr 15, 2015 10:23am
Stopped out:/ Will reenter at night or as soon as oil stops moving up.
  • #413,360
  • Apr 15, 2015 10:29am Apr 15, 2015 10:29am
[quote=sakisf;8207662]Stopped out:/ Will reenter at night or as soon as oil stops moving up.[/quote

Thanks.
Didn't know what was causing the USDIndex to fall so fast against the majors!
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