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Cable Update (GBPUSD)

  • #445,861
  • Nov 29, 2016 3:53am Nov 29, 2016 3:53am
its good stuff I'm enjoying it ,surely cant complain about that

Quoting dean1star
{quote} and I hate people that spam and overpost forums especially this one just because it makes them feel so important.
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #445,862
  • Nov 29, 2016 3:55am Nov 29, 2016 3:55am
Quoting andexQ
{quote} i guess u mean shake-out..
i convinced yesterday drop was just a shake-out if we see clean/swift move toward 1.25 like this atm. on M30
  • #445,863
  • Nov 29, 2016 4:18am Nov 29, 2016 4:18am
Quoting dean1star
{quote} and I hate people that spam and overpost forums especially this one just because it makes them feel so important.
maybe he just confused with current situation like most of us and when confused usually charting with different angle or point view to figure out things, that's normal and not spam i think..
  • #445,864
  • Edited 4:30am Nov 29, 2016 4:18am | Edited 4:30am
seems money supply and mortgage approvals good ,
my understanding where I am theres a mini boom in property could be a rush to get a great rate I guess
so far brits haven't cared much for the whole Brexit thing ,generally the majority I think they don't care about EU much kinda run in the background
to the average person
only fear made the vote close
Attached Image (click to enlarge)
Click to Enlarge Name: 29 Nov 2016 10-28-07.png Size: 33 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #445,865
  • Nov 29, 2016 4:38am Nov 29, 2016 4:38am
Quoting dean1star
{quote} and I hate people that spam and overpost forums especially this one just because it makes them feel so important.
And here comes the typical useless post from an useless user.

Baby, I'm just sharing my long years knowledge here in the place where I had the luck to learn and know nice persons, who found the time to share things, laughs, blood, anger, happyness, victories and losses.

I'm mister nobody, using this public place built under the main purpose to share and communicate with people from different cultures, knowledge, religion and anything else. And if I want to post an "I hate these pre-news moves" I will no matter what your opinion, just like you post no matter what mine or anyone else opinion. Do you think your posts are sooooo special to allow you criticize someone else's ones? Think twice!

So will be my pleasure if you will just avoid this forum (especially this thread), since you are not really the kind of users who helps this place to be alive.

Goodbye.
90% of traders use TA, indicators and prediction
  • #445,866
  • Nov 29, 2016 4:41am Nov 29, 2016 4:41am
main message to Carney is don't offer cheap cheap credit to the Uk citizens your have a really tough inflation problem what with the already devalued pound
we love to borrow money especially on housing considered long term investment when theres such a short housing supply
he wont be able to hold the rate low maybe most people are clever enough to figure that out
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #445,867
  • Nov 29, 2016 4:48am Nov 29, 2016 4:48am
Quoting andexQ
{quote} i convinced yesterday drop was just a shake-out if we see clean/swift move toward 1.25 like this atm. on M30
yes I do also believe yesterday's move was somehow a "let's collect lower demand to move higher" kind of move.

my eyes now are glued to the 1.2430 area: must be kept as solid support to make me hope for further rise later.

let's see how develops now price around here
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  • #445,868
  • Nov 29, 2016 5:01am Nov 29, 2016 5:01am
Quoting _BBKing_
m15 setup to show the actual situation: {image} some demand near 1.2380, and supply near 1.2430 possible support in 1.2360 and 1.2300 possible resistance 1.2490 and 1.2550
following price moves....
1.2490 - 1.2530 nearest resistance area.
1.2420 - 1.2430 now broken upward.
I wonder which of them will be met first.

Attached Image (click to enlarge)
Click to Enlarge Name: Chart_GBP_USD_15 Mins_snapshot.png Size: 17 KB
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  • #445,869
  • Nov 29, 2016 5:12am Nov 29, 2016 5:12am
the 1.2480 - 1.2490 is somehow the "center of gravity" of this multy-day range bound
Attached Image (click to enlarge)
Click to Enlarge Name: Chart_GBP_USD_15 Mins_snapshot.png Size: 101 KB
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  • #445,870
  • Nov 29, 2016 5:48am Nov 29, 2016 5:48am
Quoting _BBKing_
A more realistic daily view showing the importance of 1.2420-1.2430 area. Still holding long position but will be far better to see market conquering this level to hope at least for a 1.2440 - 1.2450 {image}
I'd say you got your wish.
Writer, currency trader, madman
  • #445,871
  • Nov 29, 2016 5:51am Nov 29, 2016 5:51am
I count 11 candles in 1,at res
8 min to close
Attached Image (click to enlarge)
Click to Enlarge Name: 1 USD (DFB).png Size: 31 KB
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  • #445,872
  • Nov 29, 2016 6:12am Nov 29, 2016 6:12am
I think you'd need some awfully determined bears at this point to push Gbp/Usd back under 1.2400, and they'd first have to get through at least a moderate horde of buyers between 1.2420-1.2450, which could be difficult with the daily pivot, the 50-period EMA on the 4-hour chart, and the 200 and 50 period moving averages on the hourly coming in as support around 1.2435-1.2440.

A lot of US news coming out this morning, so that will likely decide the day - could either kick Gbp decisively above 1.2500 or push it back down into those support levels.
Writer, currency trader, madman
  • #445,873
  • Nov 29, 2016 6:15am Nov 29, 2016 6:15am
its a very important week for US technically
trump win effect surprised many including myself ,holding cable back
Attached Image
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  • #445,874
  • Nov 29, 2016 6:29am Nov 29, 2016 6:29am
I scaled out 40% of position @1.2478
(I realized this morning I was way too much oversized )

my plan is:

if for whatever reason, today I see price printing around 1.2620 - 1.2630 i will close it whole
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  • #445,875
  • Nov 29, 2016 7:01am Nov 29, 2016 7:01am
Hi BB its too early to say but should this candle fail outright or tomorrow maybe the market will become clear from this consolidation

Quoting _BBKing_
I scaled out 40% of position @1.2478 (I realized this morning I was way too much oversized ) my plan is: if for whatever reason, today I see price printing around 1.2620 - 1.2630 i will close it whole
Attached Image (click to enlarge)
Click to Enlarge Name: 1 USD (DFB).png Size: 20 KB
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  • #445,876
  • Nov 29, 2016 7:20am Nov 29, 2016 7:20am
14:13+1GMT (edited untill 14:18)
EARLY AFTERNOON REPORT
Ubi maior minor cessat
  • #445,877
  • Nov 29, 2016 7:38am Nov 29, 2016 7:38am
Quoting Bones
Hi BB its too early to say but should this candle fail outright or tomorrow maybe the market will become clear from this consolidation {quote} {image}
yes could be finally moving upward (I hope!)
today's close will possibly give some clues!

also... weekly setup is suggesting me a week open-hunt.
I see it happening so many times in lower TFs: market takes away the candle open, goes through (usually 20% of body), take stops, then reverses down to the point where it started from. Then... the following candle will continue in the direction (if reasons will still be valid in this case since it's a weekly)

Attached Image (click to enlarge)
Click to Enlarge Name: Chart_GBP_USD_Weekly_snapshot.png Size: 8 KB
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  • #445,878
  • Nov 29, 2016 7:51am Nov 29, 2016 7:51am
I think today's high would be around 1.2510. My position's had been closed though.
  • #445,879
  • Nov 29, 2016 8:14am Nov 29, 2016 8:14am
Is there anything supporting the EUR / GBP ?
A lot of the upward move was caused by the insane GBP devaluation which, at least so far, shows a not really convinced market with increasing probabilities to print into 1.27 and 1.28 area.

Assuming the EURO will not yet meet with parity vs the USD, a stronger GBP could help the thing to meet with 0.81 and 0.80

Attached Image (click to enlarge)
Click to Enlarge Name: Chart_EUR_GBP_Weekly_snapshot.png Size: 7 KB
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  • #445,880
  • Nov 29, 2016 8:21am Nov 29, 2016 8:21am
more than likely this is a bullish set up above the open
however worth noting we push in overbrought
Attached Image (click to enlarge)
Click to Enlarge Name: USD (DFB).png Size: 16 KB
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