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Cable Update (GBPUSD)

  • #431,341
  • May 25, 2016 8:13am May 25, 2016 8:13am
Quoting HaLBot
{quote} maybe triggering some sell stops before the push up to at least 4750 but that's speculation on my part.... I call this the creeper, where cable just gets this relentless march upwards right through to end of US session and just when you think it's time to drop in a short it'll march up further...
-16 pips again
  • #431,342
  • May 25, 2016 8:17am May 25, 2016 8:17am
Quoting adetola99
{quote} -16 pips again
Careful with your entries, unless theres a pull back now I'd only take a 'buy' trade above 4710 as looking like resistance now...
Don't Leave Money on the Table
  • #431,343
  • May 25, 2016 8:25am May 25, 2016 8:25am
Quoting HaLBot
{quote} Careful with your entries, unless theres a pull back now I'd only take a 'buy' trade above 4710 as looking like resistance now...
yes you are right
  • #431,344
  • May 25, 2016 8:27am May 25, 2016 8:27am
Quoting HaLBot
{quote} Careful with your entries, unless theres a pull back now I'd only take a 'buy' trade above 4710 as looking like resistance now...
That is really cautious decision.
  • #431,345
  • May 25, 2016 8:27am May 25, 2016 8:27am
Quoting HaLBot
{quote} maybe triggering some sell stops before the push up to at least 4750 but that's speculation on my part.... I call this the creeper, where cable just gets this relentless march upwards right through to end of US session and just when you think it's time to drop in a short it'll march up further...
Actually from memory creepers usually occur on fridays, but I haven't seen one since last year as brexit put paid to decent rises for months...
Don't Leave Money on the Table
  • #431,346
  • May 25, 2016 8:44am May 25, 2016 8:44am
It's difficult right now to know where cables going, sometimes the rally just stops dead, might pick up again later in US session but that could be it and retrace now, remember Bulls have gorged themselves on many pips maybe need to take a siesta...LOL
gotta get some sleep over here, trade well...
Don't Leave Money on the Table
  • #431,347
  • May 25, 2016 8:51am May 25, 2016 8:51am
Quoting HaLBot
It's difficult right now to know where cables going, sometimes the rally just stops dead, might pick up again later in US session but that could be it and retrace now, remember Bulls have gorged themselves on many pips maybe need to take a siesta...LOL gotta get some sleep over here, trade well...
ok still here both will soon close to prepare for the asian session
  • #431,348
  • May 25, 2016 10:47am May 25, 2016 10:47am
Quoting HaLBot
It's difficult right now to know where cables going, sometimes the rally just stops dead, might pick up again later in US session but that could be it and retrace now, remember Bulls have gorged themselves on many pips maybe need to take a siesta...LOL gotta get some sleep over here, trade well...
At the moment it creeping sideways.
  • #431,349
  • May 25, 2016 10:48am May 25, 2016 10:48am
Quoting arasheed
{quote} At the moment it creeping sideways.
yes but close for today loss -1pips to the market
  • #431,350
  • May 25, 2016 11:59am May 25, 2016 11:59am
Even if it's creeping sideways that's just temporary, the move to the upside will likely continue. I am waiting to see whether when it will break above 1.4730 to open a new long.
  • #431,351
  • May 25, 2016 12:58pm May 25, 2016 12:58pm
Quoting meanvel
{quote} That is volatility expansion... It happens every single day and generally peaks in the morning when both NY and EU market sessions are open. If the market isn't trending strongly... Volatility usually expands both directions. Higher highs and lower lows all day until European markets close is not a unusual pattern at all for currencies. You can tell we have a very slight uptrend by how the price range is expanding upward slightly. {image}
Hey MeanVel

Thank you... It will be interesting to see what happens over the next few weeks as we get closer to June 23.

I really do love Forex as there is always something happening and life is never boring.

Its also great to read all the different views of people in here. Everyone provides a different perspective

Thanks guys

Chris Corben
  • #431,352
  • May 25, 2016 1:43pm May 25, 2016 1:43pm
Core Durable Goods Orders tomorrow and Bullard and Powell speak (neutralish).

It will be interesting to hear their stance on things

There are a number of scenarios that could play out over the next couple of days

1) I am hoping that the Core Durable figures are rubbish. That way the GU will rise more tomorrow.

These figures are difficult to predict- but the price action into the announcement tomorrow should give some indication

Also there seems to still be some positive sentiment on the GU. Although its starting to get a bit choppy

Then all being well thinking of going short on Thursday night / friday am- -just got to get a good price. Would like 1.48 but I think that is pushing it

Also I would need to see some low buying volume- at the moment there is a lot of positive sentiment on the GU (following Carney's speech yesterday)

2) Core Durable Figures are great market drops - should rally back on positive sentiment and then time to go short

The economy is doing well - the S&P seems to have rebounded, even Brexit seems a thing of the past.

I can't see her being dove but this is the Fed.

Anyway good luck
  • #431,353
  • May 25, 2016 1:56pm May 25, 2016 1:56pm
Quoting Fader123
Core Durable Goods Orders tomorrow and Bullard and Powell speak (neutralish). It will be interesting to hear their stance on things There are a number of scenarios that could play out over the next couple of days 1) I am hoping that the Core Durable figures are rubbish. That way the GU will rise more tomorrow. These figures are difficult to predict- but the price action into the announcement tomorrow should give some indication Also there seems to still be some positive sentiment on the GU. Although its starting to get a bit choppy Then all being...
Hi Fader123

in my chart, resistant at 1.4741x, if broken quickly the possibility of the rising trend will continue but if broken n was soon dropped, it is possible to change the trend (downtrend)

Good luck mate
Libenter homines id quod volunt credunt
  • #431,354
  • May 25, 2016 2:10pm May 25, 2016 2:10pm
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD_D1.gif Size: 223 KB
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD_H4.gif Size: 195 KB
  • #431,355
  • May 25, 2016 2:11pm May 25, 2016 2:11pm
Quoting Fader123
Core Durable Goods Orders tomorrow and Bullard and Powell speak (neutralish). It will be interesting to hear their stance on things There are a number of scenarios that could play out over the next couple of days 1) I am hoping that the Core Durable figures are rubbish. That way the GU will rise more tomorrow. These figures are difficult to predict- but the price action into the announcement tomorrow should give some indication Also there seems to still be some positive sentiment on the GU. Although its starting to get a bit choppy Then all being...
hy Fader do u know the reason why yesterday an today the GBP went up? i searched for the news but i couldn't find anything
  • #431,356
  • May 25, 2016 2:20pm May 25, 2016 2:20pm
Quoting Fader123
Core Durable Goods Orders tomorrow and Bullard and Powell speak (neutralish). It will be interesting to hear their stance on things There are a number of scenarios that could play out over the next couple of days 1) I am hoping that the Core Durable figures are rubbish. That way the GU will rise more tomorrow. These figures are difficult to predict- but the price action into the announcement tomorrow should give some indication Also there seems to still be some positive sentiment on the GU. Although its starting to get a bit choppy Then all being...
ohh now i see that maybe was that speech but on forexfactory it wasn't on the news? from where did u knew there was a speech scheduled? if that was the reason for the pound gains?
  • #431,357
  • May 25, 2016 2:22pm May 25, 2016 2:22pm
Quoting vladutz112
{quote} hy Fader do u know the reason why yesterday an today the GBP went up? i searched for the news but i couldn't find anything
Latest IG/Survation Brexit poll results underpinned the pound as it showed the remain was ahead with 44%, against 38% to leave and 18% undecided.
  • #431,358
  • May 25, 2016 3:08pm May 25, 2016 3:08pm
Quoting arasheed
{quote} Latest IG/Survation Brexit poll results underpinned the pound as it showed the remain was ahead with 44%, against 38% to leave and 18% undecided.
where did u saw this?
  • #431,359
  • May 25, 2016 3:47pm May 25, 2016 3:47pm
Hi all

A lot of this has got to do with market sentiment so it takes judgement in my humble opinion

There were some articles around 18th/19th May where it talked about rates being cut irrespective of what happens with Brexit

Bearing in mind that there has been some pretty poor results recently

The market came off- that was last Friday but the volume was really low.

We had more volume on Monday's doji (indecision/accumulation)

So the market was set for an up move yesterday.

Then when Carney said that interest rates were probably going to go up and even if we pull out of Europe we won't cut rates it it compounded the move upwards
  • #431,360
  • May 25, 2016 3:48pm May 25, 2016 3:48pm
Quoting baliprada
{quote} Hi Fader123 in my chart, resistant at 1.4741x, if broken quickly the possibility of the rising trend will continue but if broken n was soon dropped, it is possible to change the trend (downtrend) Good luck mate
I totally agree
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