GBPUSD analysis 2012

a couple of non standard fibs that caused reactions earlier below
how do i make these pics bigger? anyone...
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w/c 20th Feb 2012

Another subdued pip range on Friday (67% of 20 day atr) and a subdued pip range on the week (74% of 20 week atr.) Friday's Daily candle closed bullishly and the Weekly candle as a bullish hammer type candle ?

The Weekly t/f remains in an overall price action (opa) range making a H @ 5927 so far above the last LH, the recent such range really extending from 6165-5243.
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The Daily t/f has seen a HH at 5927 and since then has printed a L below it's last HL, that L coming at a previous Daily swing hi zone (previous resistance and around the 38.2% of the recent 5243-5917 move up.) Despite this L this t/f looks somewhat bullish although noot in a classic opa uptrend yet.
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The 4hr has seen 2 x HL's and a HH printed, and price closed on Friday just off that HH. This t/f is in an opa uptrend.
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Price High last week 5861 was at the 76.4% of the recent 5927-5243 Daily swing down with Friday's pullback lo off that 5861 Hi being at the 85.4% fib of the 5788-said 5861 move up (1hr swing - Friday's move up)

Price closed on the 1hr chart shown at 5822. This t/f remains in a general uptrend with some consolidation of Friday's/last week's 5861 Hi.

Immediately above current price is as follows: (Monday's Daily and next Week's Weekly pivots are calculated.)

5840-43 prev minor 1hr sw hi zone

[ 5845-48 prev minor 1hr sw hi zone
[ 5846-54-61 prev minor 4hr/1hr sw hi zone incl 5859 = Daily R1 @/around, and 5860 = 76.4% 5927-5643
[ 5855 area descending 4hr t/line on 1st new 4hr candle of the week

5870-84 prev 4hr/1hr sw hi zone

5885-5905 2 x daily t/f descending trend lines coming thru on Monday's Daily candle incl 5886 85.4% 5927-5643, and 5896 = Daily R2 @/around

5906-16-27 prev 4hr/1hr sw hi zone incl 5907 = Weekly R1 @/around, and 5924 = 50% 6617-5234
5946 76.4% 6165-5234
5961 Monthly R1 @/around
5966 85.4% 6091-5234
5969 Daily R3 @/around
5986/89 2 x fibs incl 50% 6746-5234
5993 Weekly R2 @/around
5999 85.4% 6130-5234
6030 85.4% 6165-5234
6042 Daily R4 @/around
6073-92 incl 6087 = 61.8% 6617-5234
6103-15-30 prev Dly/4hr sw hi zone
6136-65 prev Wkly/Dly sw hi zone incl 6158 = Monthly R2 @/around and 6163 = 76.4% 6454-5234
6167 61.8% 6746-5234
 
To the immediate downside per the current near-term 1hr chart below (Monday's Daily and Next Week's Weekly pivots not shown.)

G/L
 

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W/E Friday 24th Feb 2012

The Weekly t/f candle closes as a 2nd consecutive bullish hammer/PB thingy and the Low of last week now becomes a fractal swing Low with the close of this week's candle. This t/f is still in somewhat of an overall price action (opa) range but is looking more bulish than bearish off the recent 5243 lo

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The Daily t/f remains in it's opa rangy consolidation between 5927 and 5643 but after Thursday and Friday's strongly bullish candles after the retest of the previous swing hi/lo zone down to 5643, and the weekly candle close, the probability has to be skewed toward an upside break of that range as Friday's Hi breches the previous fractal LH on this t/f. Price breeched the steepest remaining descending trendline on this t/f and made a high on Friday at/or around the next descending t/line on this t/f but no close above it yet.

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A 3rd fractal HL and a HH at Friday's Hi now on 4hr as this t/f is in a steep opa uptrend off the recent 5647 lo. Friday's Hi @ 5698 breeched the 85.4% fib of the 5927-5643 move and indeed the last 4hr descending trend line. Although the close was above that t/line, price did not close above the 85.4% fib as profit takers came in the last hour of trading resulting in the last 4hr candle being quite bearish of itself.

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G/L
 
Monday to the immediate upside

To the immediate upside of Friday's closing price (next Week's Weekly and Monday's Daily Pivots calculated.)


5875-5885 Daily t/f descending trend lines coming thru on Fri's Daily candle
5886 85.4% 5927-5643
5897 Friday's/Last week's Hi = minor previous 1hr swing hi 5890-97
5906-16-27 prev 4hr/1hr sw hi zone incl 5924 = 50% 6617-5234
5938 Daily R1 @/around
5946 76.4% 6165-5234
5961/62 Monthly R1 @/around/Weekly R1 @/around
5966 85.4% 6091-5234
5986/89 2 x fibs incl 50% 6746-5234
5999 85.4% 6130-5234
6007 Daily R2 @/around
6030 85.4% 6165-5234
6055 Weekly R2 @/around
6073-92 incl 6087 = 61.8% 6617-5234
6103-15-30 prev Dly/4hr sw hi zone incl 6125 = Weekly R3 @/around
6136-65 prev Wkly/Dly sw hi zone incl 6158 = Monthly R2 @/around and 6163 = 76.4% 6454-5234
6167 61.8% 6746-5234
6185 Daily R3 @/around
 
pullback ?

If that last 4hr candle (on this charting) is the start of a pullback, I wonder whether it may target the previous swing hi zone shown, this zone is the previous 4hr/1hr swing hi zone around Wednesday's Hi and contains 38.2% of the 5647-5898 move up (@ 5802) as well as 50% of Friday's 5720-5898 move up (5809) and 85.4% of the shorter 5792-5898 move up (5807,) as well as the new Weekly Pivot @/around 5804.

Time will tell.

PS: May feel like more but only 87% of the 20 week atr was covered in the week just closed.

G/L

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what happened next ?

Re post above, price indeed pulled back from last week's 5898 high into the previous 4hr swing hi zone (previous resistance) that then acted as support and what a 1hr pinbar candle resulted from the pullback lo ! Strong move up and a follow thru to a current high of 5958.

G/L

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to the immediate upside

Immediately above current high:

5960/62 Monthly R1 @/around / Weekly R1 @/around
5966 85.4% 6091-5234
5976 Daily R2 @/around
5986/89 2 x fibs incl 50% 6746-5234
5999 85.4% 6130-5234
6005-15 descending Weekly /Monthly t/line coming thru on Wed's daily candle
6030 85.4% 6165-5234
6045 Daily R3 @/around
6055 Weekly R2 @/around
6073-92 incl 6087 = 61.8% 6617-5234
6103-15-30 prev Dly/4hr sw hi zone incl 6125 = Weekly R3 @/around
6136-65 prev Wkly/Dly sw hi zone incl 6158 = Monthly R2 @/around and 6163 = 76.4% 6454-5234
6167 61.8% 6746-5234
6179-6206 prev minor Daily sw lo hi zone
6213 Weekly R3 @/around

G/L
 
Some pre budget analysis...

On the daily I see us hitting R on a trading range, with major suport at 1.5250.
Shorts on daily TF for me potentially.

Longer term the monthly chart still looks pretty bearish to me. R at 1.69 has held for nearly four years now. The retrace is since the low in early 2009 has formed a kind of long term wedge / flag shape - often bearish.

Could be an interesting time coming up if the daily move to the bottom of its range.

No trading recommendations here, just areas I am looking at.
glyder
 

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The current rate (today 21 March 2012) is 1.5840. The trend (monthly) at the moment is positive, but I believe the yearly cycle is definitely negative due to the recession and the recent increase of the Dollar Index (At the moment below 80). Usually during recession Dollar tend to go up and everything else such as commodities tend to go down. At the moment the Dollar Index is in a good rally, if the Dollar Index may reach 84, my guess is that all commodities such as Gold, Silver, Coffee C may have another huge sell-off till they reach their support levels: (1540 for Gold, 25 for silver, 160 for coffee).
It's hard to trade at the moment, as I believe that the recession may not bring to a crash and market may recover... but if market may no recover, things can go even worse and everything may keep dropping including GBP/USD, no good idea now to sell USD considering the fact that USD seems strong now.. If GBP/USD may go below 1.584 look for further downside with 1.5815 & 1.578 as targets.
Then a sell option may rise. Therefore be patience, wait for the change of direction, it may go down... it is too dangerous at the moment to try to buy it: remember it was 1.52 few weeks ago, it had a slow recovery, but for me the yearly trend is still negative. Comment: the pair has struck against its resistance (1.5915) and is pulling back on its support. For me it wont go soon above 1.60, before reaching that level it may go first down towards 1.52
 
Bullish looking daily chart ?

Upside breech of the daily and weekly descending trend lines in the strong move up today so far, off the 5800 current Daily Lo, and an upside follow thru on Friday's bullish engulf daily candle and last week's slightly bullish weekly candle close. Will see whether today's daily candle closes above those trend lines - could be a bullish hammer off that 2nd recent HlLon the daily t/f. The H before the last HL (circled) closed above the last 3 x LH's of the previous downtrend and off a HL too...all looking bullish at the moment on this t/f in respect of overall price action ?

G/L

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Note of caution re above - price right into some potential supply zones including just above current price the previous daily/4hr swing hi zone leading to 5991.

4hr shows them below.

G/L

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Re: GBPUSD analysis end of June 2012

Friday's Daily candle closes as a Bullish master engulfing x 5 thrust (phew!) It is the largest bullish bodied daily candle of the year so far. It engulfs last 5 candle bodies on this Daily t/f with an upside breech and close above the descending trend line on this t/f and a close near it's hi and above the last LH in it's current opa range. This t/f has seen a fractal swing LL at the 5483 level and is currently in an opa range between that level and 5776 although obviously looking more bullish than bearish with Friday's Daily candle close now.. Perhaps a resumption of it's general opa uptrend will result although no HH yet seen on this t/f.

The Weekly candle closes as a bullish hammer almost engulfing the previous week's inverted hammer...This comes off the L established at the support zone extending down to 5234, this L being @ 5267. This t/f remains in an opa range. The recent 5776 Hi becomes a minor fractal LH on this t/f now with the close of this week's candle.

The Monthly candle closed bullish after last month's master bearish engulfing x 7 thrust candle but this t/f remains in an opa range.

OPA=overall price action-fractal swing hi/lo analysis


More upside at start of the week off that Daily candle ?

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upside of Friday's close

Looking to the immediate upside of Friday's closing price, (analysis below includes new Monthly, Weekly and Monday's Daily Pivots.)

5714 Friday Hi
5719-32 prev 4hr/1hr sw hi zone incl 5732 = 85.4% 5776-5483

5750-91 prev minor Dly sw lo zone incl:
5750-55 prev 1hr sw hi zone
5752-76 prev minor Wkly/Daily/4hr/1hr swing hi zone incl 5762 = 85.4% 5847-
5267
5776 Daily R1 @/around
5782 = 50% main 6300-5267 move
5784 Weekly R1 @/around


5800-18 prev minor 4hr sw hi zone
5830-47 prev Dly sw lo, prev Dly/4hr sw hi zone
5848 Daily R2 @/around
5864 Weekly R2 @/around
5897 Monthly R1 @/around
5904 61.8% main 6300-5267 move
5980 Monthly R1
6048-57 prev 4hr sw lo zone incl 6054= 76.4% main 6300-5267 move and Daily R3 @/around
6091 Monthly R2 @/around
6094 Weekly R3 @/around
6109-21 prev 4hr sw hi zone
6148 85.4% 6300-5267
6167-81 prev minor Daily/4hr sw hi zone
6175/85 descending Weekly trend line on Monday's daily candle
6187-6199 prev minor Daily/4hr sw hi zone

NB: Fibs of the minor 4hr swings from 6197, 6180, and 6122 to 5267 not included.


G/L
 
Friday's Daily candle closes as a Bullish master engulfing x 5 thrust (phew!) It is the largest bullish bodied daily candle of the year so far. It engulfs last 5 candle bodies on this Daily t/f with an upside breech and close above the descending trend line on this t/f and a close near it's hi and above the last LH in it's current opa range. This t/f has seen a fractal swing LL at the 5483 level and is currently in an opa range between that level and 5776 although obviously looking more bullish than bearish with Friday's Daily candle close now.. Perhaps a resumption of it's general opa uptrend will result although no HH yet seen on this t/f.

The Weekly candle closes as a bullish hammer almost engulfing the previous week's inverted hammer...This comes off the L established at the support zone extending down to 5234, this L being @ 5267. This t/f remains in an opa range. The recent 5776 Hi becomes a minor fractal LH on this t/f now with the close of this week's candle.

The Monthly candle closed bullish after last month's master bearish engulfing x 7 thrust candle but this t/f remains in an opa range.

OPA=overall price action-fractal swing hi/lo analysis


More upside at start of the week off that Daily candle ?

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I'm looking at a pullback opportunity about half way down where previous price painted a ceiling of sorts. Where your orange line is plotted
 
I'm looking at a pullback opportunity about half way down where previous price painted a ceiling of sorts. Where your orange line is plotted

Working out well so far...classic repeating regular divergence set-ups there on 5min, 10min,15min, and 30min with 1hr hidden div there..15min shown by way of example.

G/L

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I thought I would start this thread re gbpusd for this year - 2012. Please feel free to share your analysis here.

G/L
GBPUSD
‎1.5638 WAS LOW AND SUPPORT ...GBP/USD KNOW ON 1.5780 SO POSSIBLE FOR MORE UPSIDE ...(1.5655 IF GBP SUCCESS TO STAY UP THIS AREA )....... 1.2710 NEW RESISTANCE POSSIBLE...
GOOD LUCK:clap:
 
it's unusual not to see an upside repsonse (at least a response - if not a sustained upside follow thru) at potential rbs = a previous minor daily / 4hr/1hr x 3 swing hi zone (ie previous resistance becomes support) and in this case it had the confluece of the other 2 x factors as detailed in post above. The 1hr previous swing hi x 3 zone and fib is shown below. Buy the dip participants very often wait at these areas.

How strong are the bulls ?

G/L

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what happened to bbmac

phenomenal, consistent thread for years, then mid 2012 nothing?
 
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