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Cable Update (GBPUSD)

  • #455,561
  • Oct 12, 2017 6:10am Oct 12, 2017 6:10am
Sorry got my times wrong for the 4 hour it still has a couple of hours to go.
  • #455,562
  • Oct 12, 2017 6:22am Oct 12, 2017 6:22am
Quoting Nala66
{quote} Ok TG let us take retail traders out of the equation. Does that mean all the so called companies are trading in the same direction and not competing for one another's big bucks.
What I know is research done on this privately (don't ask me who and how), which company you know speculate in this manner to take advantage of the ups and downs? The CFO will timed the changes and of course he/she will not change the entire lot, perhaps spread over, hence you find everytime price reach a certain level, it gets supported - real needs.... Even big commodity trading firm, you know their traders are very stressful, don't think their size is huge cos there is always another around to gobble them up... not here to convince you or anything... these are real things happening.... and I happened to know... hehehe
  • #455,563
  • Oct 12, 2017 6:22am Oct 12, 2017 6:22am
Quoting Nala66
Sorry got my times wrong for the 4 hour it still has a couple of hours to go.
Yah that's basic, I was wondering why you get that wrong....
  • #455,564
  • Oct 12, 2017 6:27am Oct 12, 2017 6:27am
Quoting Nala66
Then what of governments, don't their treasuries have a fiscal responsibility to maintain certain levels. We saw the JPY buy back some of its debts a while back.
On the Govt, yes they have obligations to maintain their levels and each according to their fiscal and monetary policies, they tweak them. Ultimately these policies affect business operations and money will flow either way.
  • #455,565
  • Oct 12, 2017 6:29am Oct 12, 2017 6:29am
Quoting Trade-G
Once 1.3164 taken out it could mean alot
Ok taken out....
  • #455,566
  • Oct 12, 2017 6:29am Oct 12, 2017 6:29am
Quoting Nala66
Sorry got my times wrong for the 4 hour it still has a couple of hours to go.
If your charting software have a count down timer it helps
  • #455,567
  • Oct 12, 2017 6:30am Oct 12, 2017 6:30am
This is all difficult to explain and I imagine difficult to understand.

A...Takes out B

Price now needs another support to take out C

It fails so C takes out A

The target is now D

If the bears find another support they could take on E
Attached Image (click to enlarge)
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  • #455,568
  • Oct 12, 2017 6:33am Oct 12, 2017 6:33am
Quoting Trade-G
{quote} If your charting software have a count down timer it helps
Yeah I took it off TG rarely use it.
  • #455,569
  • Oct 12, 2017 6:35am Oct 12, 2017 6:35am
Quoting Nala66
This is all difficult to explain and I imagine difficult to understand. A...Takes out B Price now needs another support to take out C It fails so C takes out A The target is now D If the bears find another support they could take on E {image}
Its an aggregated move, every once in a while all the big fishes got in tandem and prices are pushed in the same direction.... when you have whipsaws, that's when its irregular.... for example, Official Bank rates...
A Highly Anticipated Event With A Fixed Schedule
Since 1997, Bank of England has scheduled its official bank rate to be announcement on the Thursday after the first Monday of the month. With the exception of a few special occasions leading to the announcement to take place on the Wednesday prior, it is a recurring event with predictable outcome. Predictable in the sense that it traps many traders on the wrong side of the market.
It is suffice to say that traders from all timeframes are put into a box to pit against each other up to the moment the announcements are made. It leads to British Pound consistently pushing lower into the announcements and climax right after. This is a simple and an exploitable edge.
  • #455,570
  • Oct 12, 2017 6:38am Oct 12, 2017 6:38am
Quoting Trade-G
{quote} Companies go though banks to change their cash for their operations hence your 3/4.....
You're totally wrong.
Like I said before, most of the volume is speculative in nature ....

"Fully 80% of trades in the currency market are speculative in nature, put on by large financial institutions, multibillion dollar hedge funds..."

http://www.investopedia.com/articles...evenfxfaqs.asp
  • #455,571
  • Oct 12, 2017 6:41am Oct 12, 2017 6:41am
When I say companies with real needs its like manufacturing, hotel, etc they need purchases in other foreign currencies for their goods and/or services and their CFO will always be tasked to change these at the most favourable times.... when prices got to a low, and they can no longer wait for these currencies are needed they will change them, and it is not coincidental, cause when A company changes and cause a support or even a slight retrace, others who are also watching will also immediately jump in change for that is also favourable to them, hence this is an aggregated move...
  • #455,572
  • Oct 12, 2017 6:42am Oct 12, 2017 6:42am
Quoting Snowden
{quote} You're totally wrong. Like I said before, most of the volume is speculative in nature .... "Fully 80% of trades in the currency market are speculative in nature, put on by large financial institutions, multibillion dollar hedge funds..." http://www.investopedia.com/articles...evenfxfaqs.asp
Suit yourself.... I am not here to convince you....
  • #455,573
  • Oct 12, 2017 6:44am Oct 12, 2017 6:44am
Quoting Trade-G
{quote} Suit yourself.... I am not here to convince you....
And I do not have a written paper to quote like you because it is not published.... you don't have to believe me....
  • #455,574
  • Oct 12, 2017 6:47am Oct 12, 2017 6:47am
YEEEEHAAAA!

Last night I sat there for 2 hours considering if this would happen or not.

RIDE it boys!

Can I hear BOUNCE BOUNCE BOUNCE?
  • #455,575
  • Oct 12, 2017 6:53am Oct 12, 2017 6:53am
underestimated that h1
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #455,576
  • Oct 12, 2017 6:53am Oct 12, 2017 6:53am
Quoting Trade-G
{quote}.. you don't have to believe me....
Just as well isn't it?
  • #455,577
  • Oct 12, 2017 6:55am Oct 12, 2017 6:55am
Bought a little at 134
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  • #455,578
  • Oct 12, 2017 6:56am Oct 12, 2017 6:56am
H4 chart
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDh4-2.png Size: 37 KB
  • #455,579
  • Oct 12, 2017 6:57am Oct 12, 2017 6:57am
Quoting Bones
underestimated that h1 {image}
Is it bearish now according to your chart?
  • #455,580
  • Oct 12, 2017 6:59am Oct 12, 2017 6:59am
Quoting Snowden
{quote} Just as well isn't it?
Well you are snowden is it? lol
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