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Cable Update (GBPUSD)

  • #329,421
  • Nov 9, 2012 2:30am Nov 9, 2012 2:30am
Quoting tirmizi
hi good morning cdn

i see first res at 6055 and 6055 is above the last high and if that happen that will be a break out and towards next res number 6140

gl
Need to watch the PA here as we approach 1.5970.. if it under-shot or bounce here with another H4 bull Candle above 70 will suggest a false weekly probe of the 2 month range.. same for Euro 1.2750 as the pair dance with the same bias squeezing each other with a bit of lead lag Cross plays..
  • #329,422
  • Nov 9, 2012 2:33am Nov 9, 2012 2:33am
Quoting Ziko9o8
- Can u post a chart(on that chart the time frame used and a horizontal line for that price), so I can see what u see and think with u?

- Cheers
Attached Image (click to enlarge)
Click to Enlarge Name: 2.jpg Size: 247 KB
  • #329,423
  • Nov 9, 2012 2:37am Nov 9, 2012 2:37am
Quoting volforex
Attachment
- Now its becoming complicated.
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  • #329,424
  • Nov 9, 2012 2:39am Nov 9, 2012 2:39am
Quoting Ziko9o8
- Now its becoming complicated.
Have to get bullish 4hour candle to go down ,last resistance is nothing only retails move
  • #329,425
  • Nov 9, 2012 2:47am Nov 9, 2012 2:47am
Quoting cdndollar
Need to watch the PA here as we approach 1.5970.. if it under-shot or bounce here with another H4 bull Candle above 70 will suggest a false weekly probe of the 2 month range.. same for Euro 1.2750 as the pair dance with the same bias squeezing each other with a bit of lead lag Cross plays..
yes correct!

this week is roller coaster every day

just waiting...
Learning Requires Failure
  • #329,426
  • Nov 9, 2012 2:51am Nov 9, 2012 2:51am
we are still ranging and high and lows will be false break outs if any till we get a momentum to go either side

till then only buy low of the range and get out in the middle or above middle and sell high of the range and get out in middle or below of the mid
Learning Requires Failure
  • #329,427
  • Nov 9, 2012 2:58am Nov 9, 2012 2:58am
Quoting volforex
Have to get bullish 4hour candle to go down ,last resistance is nothing only retails move
- Now, it will make sense for you, its the 23.6 fibo level becoming support and resistance in a ranging market.
Attached Image (click to enlarge)
Click to Enlarge Name: Cable fibo retracement h4.png Size: 26 KB
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  • #329,428
  • Nov 9, 2012 3:01am Nov 9, 2012 3:01am
Quoting tirmizi
we are still ranging and high and lows will be false break outs if any till we get a momentum to go either side

till then only buy low of the range and get out in the middle or above middle and sell high of the range and get out in middle or below of the mid
- Can u please post a chart on it the upper and lower range you mentioned and how can u define it?

- Cheers.
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  • #329,429
  • Nov 9, 2012 3:10am Nov 9, 2012 3:10am
i have a big long position on 1.6013. and now the price went down to 1.5965.damn.
i am really confused.Will the price go up??
  • #329,430
  • Nov 9, 2012 3:15am Nov 9, 2012 3:15am
GBP: Although the British pound rebounded yesterday on cross-buying in sterling, cable has retreated today in London morning, option related offers are reported from 1.6000 up to 1.6050 (related to 1.6000, 1.6015, 1.6030 and 1.6050 option expires today), stops are building up above 1.6050 and more sell orders from various parties are tipped at 1.6090-00 with bigger stops tipped above 1.6100-10. On the downside, bids from Asian CBs and Middle East names are reported at 1.5960-70 and also in good size at 1.5930, more stops are placed below 1.5900-10 with some bids expected above there.
Numbers NEVER Lie
  • #329,431
  • Nov 9, 2012 3:18am Nov 9, 2012 3:18am
Quoting ZizoFX
GBP: Although the British pound rebounded yesterday on cross-buying in sterling, cable has retreated today in London morning, option related offers are reported from 1.6000 up to 1.6050 (related to 1.6000, 1.6015, 1.6030 and 1.6050 option expires today), stops are building up above 1.6050 and more sell orders from various parties are tipped at 1.6090-00 with bigger stops tipped above 1.6100-10. On the downside, bids from Asian CBs and Middle East names are reported at 1.5960-70 and also in good size at 1.5930, more stops are placed below 1.5900-10...
Hmmmm what does this means?
  • #329,432
  • Nov 9, 2012 3:20am Nov 9, 2012 3:20am
Quoting zoomfire
i have a big long position on 1.6013. and now the price went down to 1.5965.damn.
i am really confused.Will the price go up??
- Its Friday, any thing can happen.

- If I was you, I would set it to BE and S.L 100 pips, if you can afford it.

- GL.
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  • #329,433
  • Nov 9, 2012 3:20am Nov 9, 2012 3:20am
Quoting Snooze
Hmmmm what does this means?
http://www.actionforex.com/action-in...0121109178125/
Numbers NEVER Lie
  • #329,434
  • Nov 9, 2012 3:22am Nov 9, 2012 3:22am
Quoting ZizoFX
GBP: Although the British pound rebounded yesterday on cross-buying in sterling, cable has retreated today in London morning, option related offers are reported from 1.6000 up to 1.6050 (related to 1.6000, 1.6015, 1.6030 and 1.6050 option expires today), stops are building up above 1.6050 and more sell orders from various parties are tipped at 1.6090-00 with bigger stops tipped above 1.6100-10. On the downside, bids from Asian CBs and Middle East names are reported at 1.5960-70 and also in good size at 1.5930, more stops are placed below 1.5900-10...
- Hi Zizo, Can u please tell me what's the meaning of CB account?

- Cheers.
The internet is full of bots giving trading advises. Be careful!!
  • #329,435
  • Nov 9, 2012 3:25am Nov 9, 2012 3:25am
Quoting Ziko9o8
- Can u please post a chart on it the upper and lower range you mentioned and how can u define it?

- Cheers.
yes sure i hope this chart of hourly time frame help a little


click on the chart for larger view

thanks and good luck and in ur trading
Attached Image (click to enlarge)
Click to Enlarge Name: mov.png Size: 65 KB
Learning Requires Failure
  • #329,436
  • Nov 9, 2012 3:33am Nov 9, 2012 3:33am
Quoting Ziko9o8
- Hi Zizo, Can u please tell me what's the meaning of CB account?

- Cheers.
Citizens Bank - CB Accounts
Numbers NEVER Lie
  • #329,437
  • Nov 9, 2012 3:37am Nov 9, 2012 3:37am
Despite yesterday’s brief fall to 1.5930, the subsequent rebound suggests a temporary low is possibly formed there and consolidation with mild upside bias is seen for test of intra-day resistance at 1.6020, then this week’s high of 1.6043, however, break there is needed to confirm this view, bring retracement of the decline from 1.6175 to 1.6060 and possibly to 1.6100-10 which is likely to hold from here.

In view of this, we are looking to buy cable on dips, below said support would extend the decline from1 .6175 to 1.5914 support, however, loss of downward moment should prevent sharp fall below 1.5900 (50% Fibonacci retracement of 1.5490-1.6310) and reckon 1.5865-70 would limit downside and price should stay well above 1.5825 (100% projection of 1.6175-1.5957 measuring from 1.6043), bring rebound later.

I know I know, Where is the Chart

Source ActionForex
Numbers NEVER Lie
  • #329,438
  • Nov 9, 2012 3:40am Nov 9, 2012 3:40am
Morning everybody.

How's the cable trading going these days? A few faces missing? What exactly do you call this recent price action?
Gone to a better place
  • #329,439
  • Nov 9, 2012 3:42am Nov 9, 2012 3:42am
Quoting tirmizi
yes sure i hope this chart of hourly time frame help a little


click on the chart for larger view

thanks and good luck and in ur trading
Nice chart & its building a very strong base bottom since we have weekly Pivot @ 1.5959
Numbers NEVER Lie
  • #329,440
  • Nov 9, 2012 3:47am Nov 9, 2012 3:47am
- Thanks for all replies.

- Have a great weekend all.
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