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Cable Update (GBPUSD)

Quoting _BBKing_

actually i'm still partially holding long in Gch
- If we broke the 1.5525 (which it doesn't triggered), you are in trouble.
Quoting albchr
I don't trade news. The down trend is in the charts. Perhaps you should get your money back on this super secret commercial system? Just a thought.
You dont trade news... but ironically you are making money on NEWS....

while BBKing and me, us trading tech analysis before the drop showed signs of a pullback up to 1.59...

so this is all NEWS albchr
Bot or not, profit is the name of the game!
Quoting _BBKing_

actually i'm still partially holding long in Gch
Quoting albchr
I have to agree. As a short term scalp it's not bad but I wouldn't hold it too long. I think we all saw 5580 as a logical "bounce" area as well as 5550, 5530 etc. etc.

To me, these areas are chances to load shorts on the bounce. But then, that's just me. I could be 100% wrong but I'm gunning for 5509ish today/tomorrow.
It will bounce there too buddy (although I don;t think too high). But maybe a chance to get out? Where are you long at?
S/R + PA = Simple, Clean, Deadly
Quoting fxtyrant
You dont trade news... but ironically you are making money on NEWS....

while BBKing and me, us trading tech analysis before the drop showed signs of a pullback up to 1.59...

so this is all NEWS albchr
I think what he means is that the chart was already speaking for itself and news (regardless of what was said) is just noise. See news is relevant only when it contributes to break sequences of measured moves induced by Program Trading on the larger time frames, i.e. daily and weekly. But very rarely news is capable of doing that: what can really change market direction is huge and coordinated participation from smart money and/or central banks. For instance, the S&P500 was turned higher twice in the last 3 years: the first time in March 2009 and the second time in May-July 2011 by the intervention of the FED with Quantitative Easing initiatives.

So by following the charts one would have already known that we have broken just about every major support and 1.53 is in the cards regardless of what was said this past hour.
Quoting fxtyrant
You dont trade news... but ironically you are making money on NEWS....

while BBKing and me, us trading tech analysis before the drop showed signs of a pullback up to 1.59...

so this is all NEWS albchr
I didn't say news doesn't affect the market. But Obviously I was seeing this LONG before it. GEEZZZ you too? Picking on me?...LOL

Don't be sore at me because you're on the wrong side sir. All I'm saying is I don't base my trades on news. Just the charts
S/R + PA = Simple, Clean, Deadly
Quoting fxtyrant
You dont trade news... but ironically you are making money on NEWS....

while BBKing and me, us trading tech analysis before the drop showed signs of a pullback up to 1.59...

so this is all NEWS albchr
Not likely, we just slammed down off resistance at 5688 after slamming down on Monday from retesting the broken daily wedge.
Entered 5642 on my tech anslysis before the news, exited 5580.
Quoting 100PipsADay
I think what he means is that the chart was already speaking for itself and news (regardless of what was said) is just noise. See [b][i]news is relevant only when it contributes to break sequences of measured moves induced by Program Trading on the larger time frames, i.e. daily and weekly. But very rarely news is capable of doing that: what can really change market direction is huge and coordinated participation from smart money and/or central banks. For instance, the S&P500 was turned higher twice in the last 3 years: the first time in March 2009...

... ...

Too much to type on a phone but couldn't have said it better brother.
S/R + PA = Simple, Clean, Deadly
Quoting albchr
... ...

Too much to type on a phone but couldn't have said it better brother.
No worries bro.

Anybody else wondering where Cable is headed I'll let you in on a little secret now. It will hit 1.53 very very soon. Find your entry points and hit SELL. You'll still get another 200 pips or so out of that short.

After that, 4-Year Symmetrical Triangle will be broken and confirmed and you can look for 1.45 in the coming months!

Happy trading everybody!
Quoting albchr
I didn't say news doesn't affect the market. But Obviously I was seeing this LONG before it. GEEZZZ you too? Picking on me?...LOL

Don't be sore at me because you're on the wrong side sir. All I'm saying is I don't base my trades on news. Just the charts
chart or not.... im seeing this move as a somewhat exaggerate move.... news doesnt sound that bad....
to me... the bankers gone on a selling frenzy today....
interested to see what NY is gona do...
Bot or not, profit is the name of the game!
Quoting Ill-b-back
Not likely, we just slammed down off resistance at 5688 after slamming down on Monday from retesting the broken daily wedge.
Entered 5642 on my tech anslysis before the news, exited 5580.
Nice job!
Quoting albchr
It will bounce there too buddy (although I don;t think too high). But maybe a chance to get out? Where are you long at?
ironically i was really expecting this down move continuation in GU.
indeed not certainly i was bullish.
what is actually giving me headache is the fucking EU still stabel around 1.35 causing all xxx.CHF not going up.
luckily also i'm long in EUR CHF and short AUD USD at today's top.
so overall i'm not in loss.

now the question: when will EU start crashing? i suspect that moment is very near..................
matter of some days.
Quoting 100PipsADay
Yea I completely understand, my lady takes care of elderly and/or disabled people so I know having the proper care is very important. Especially for our loved ones!...

I should have hopped on this ride but I think next week I'll get my chance as I'm almost sure that this time the 4-Year triangle will be broken and confirmed!

By the way, is this you? LOL
LOL...YES!! I just hope I hit the water .... DAM that's a long way down...
S/R + PA = Simple, Clean, Deadly
Quoting fxtyrant
chart or not.... im seeing this move as a somewhat exaggerate move.... news doesnt sound that bad....
to me... the bankers gone on a selling frenzy today....
interested to see what NY is gona do...

i agree on that!
let's see what develops!
must be careful!!!
out for lunch

byebye
good luck
Quoting fxtyrant
chart or not.... im seeing this move as a somewhat exaggerate move.... news doesnt sound that bad....
to me... the bankers gone on a selling frenzy today....
interested to see what NY is gona do...
To each his own and all the best to you.

News? What news? ... LOL
S/R + PA = Simple, Clean, Deadly
Quoting fxtyrant
chart or not.... im seeing this move as a somewhat exaggerate move.... news doesnt sound that bad....
to me... the bankers gone on a selling frenzy today....
interested to see what NY is gona do...
Hey Tyrant,

This is why it is important to map out significant Support / Resistance levels on the Weekly chart before doing anything else. These PRICE levels are created by supply and demand during certain economic conditions. Supply and demand changes with each economic and political situation. What was once a PRICE level in a certain economic scenario may not be important or supported in a different economic situation.

Supply and demand will drive PRICE to those levels which are supported by the current economic and political conditions. Usually, these are levels identified in history but occasionally, each condition creates its own PRICE level.

Certain currency pairs, and GBPUSD is one of them, have PRICE levels where round numbers are important. We have to know what these round numbers are and what PRICE does at these levels.

As far as I can tell 1.55 is the only real support left before 1.53. So the best thing to do would be to observe price action at 1.55, then get short at any meaningful bounce / retrace to the upside. Like I said above, that trade should be good for at least 200 pips.
Quoting _BBKing_
ironically i was really expecting this down move continuation in GU.
indeed not certainly i was bullish.
what is actually giving me headache is the fucking EU still stabel around 1.35 causing all xxx.CHF not going up.
luckily also i'm long in EUR CHF and short AUD USD at today's top.
so overall i'm not in loss.

now the question: when will EU start crashing? i suspect that moment is very near..................
matter of some days.
100pips and I were talking about this a couple days ago and I agree. I think crash is coming and it will be huge IMO. Might start (show signs) this week but I'll be watching EU and EJ very close next week.
S/R + PA = Simple, Clean, Deadly
Quoting albchr
LOL...YES!! I just hope I hit the water .... DAM that's a long way down...
LOL

High Dive all the way down to 1.53 err I mean the water below...
Trades covered and will let ride. Lets' see if we can get 5509 today/this week. Gotta go, chow folks
S/R + PA = Simple, Clean, Deadly
H1 chart with divergence in MACd and stoch + PIN candle ...... readu to enter long if we get right signal breaking to of last pin candle !
Quoting Qu|cksilver
Hi,
Does anyone agree cable may go up to 1.9050 area? or will continue bearish when the market open on monday?
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