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Cable Update (GBPUSD)
- #457,661
- Jan 26, 2018 3:32am Jan 26, 2018 3:32am
- Joined May 2011 | Status: Get to the Chopper | 17,905 Posts
now i dont know what to do
- #457,668
- Jan 26, 2018 5:04pm Jan 26, 2018 5:04pm
- Joined May 2011 | Status: Get to the Chopper | 17,905 Posts
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- #457,669
- Jan 27, 2018 4:54am Jan 27, 2018 4:54am
- Joined Apr 2011 | Status: NQ eta moi lybov... | 3,030 Posts
Anyone else think the whole move up on Cable since late 2016 looks corrective?
Nothing but crossovers, so even if this fib reaction in the chart below means nothing, we should still expect a hefty pullback from the last Supply zone. A break above the last LH ($1.50) before the pullback and it will be a different story.
Well, if this fib reaction does prove meaningful, it might mean fresh lows in the next set and thus we are now heading for parity with the $;
Just for comparison sake, here is the EG (daily) too;
Nothing but crossovers, so even if this fib reaction in the chart below means nothing, we should still expect a hefty pullback from the last Supply zone. A break above the last LH ($1.50) before the pullback and it will be a different story.
Well, if this fib reaction does prove meaningful, it might mean fresh lows in the next set and thus we are now heading for parity with the $;
Just for comparison sake, here is the EG (daily) too;
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- #457,670
- Jan 27, 2018 8:50am Jan 27, 2018 8:50am
- Joined Dec 2012 | Status: Trader | 8,124 Posts
Anyone else think the whole move up on Cable since late 2016 looks corrective? Nothing but crossovers, so even if this fib reaction in the chart below means nothing, we should still expect a hefty pullback from the last Supply zone. A break above the last LH ($1.50) before the pullback and it will be a different story. Well, if this fib reaction does prove meaningful, it might mean fresh lows in the next set and thus we are now heading for parity with the $; {image} Just for comparison sake, here is the EG (daily) too; {image}
Posted something similar on my thread but came across your chart, so post here....Your fibs are upside down
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- #457,671
- Jan 27, 2018 9:27am Jan 27, 2018 9:27am
- Joined Apr 2011 | Status: NQ eta moi lybov... | 3,030 Posts
{quote} Hi Cg, Posted something similar on my thread but came across your chart, so post here....Your fibs are upside down
Hey Mr.S, long time no speak! How are you my friend?!
Yeh, i always print them that way round! Have to say, the above doesn't sit right with a fundamental view. $ weakness continuing and the £'s interest rates likely to increase again later this year etc, so i will be quite happy to see those fib levels busted.
I simply can't make much of a case for the current long move to be impulsive. Not that any of this really matters. I'm seldom in a trade longer than a few minutes, but just posting some observations!)
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- #457,673
- Edited 5:54am Jan 28, 2018 5:05am | Edited 5:54am
- Joined Apr 2011 | Status: NQ eta moi lybov... | 3,030 Posts
Well, time will tell. I don't really worry about what PA will do beyond 5 minutes normally, however... when everyone is bullish on a currency, it is often time to think again.
We will see, as i say, i do not trade this way, so it matters to me little (apart from my earnings currently being in the £)
Perhaps if i add my monthly chart with a clear fib reaction at a common retracement level;
So was the move long, corrective? If so, we should print a fresh low..
We will see, as i say, i do not trade this way, so it matters to me little (apart from my earnings currently being in the £)
Perhaps if i add my monthly chart with a clear fib reaction at a common retracement level;
So was the move long, corrective? If so, we should print a fresh low..
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- #457,674
- Jan 28, 2018 5:35am Jan 28, 2018 5:35am
- Joined May 2011 | Status: Get to the Chopper | 17,905 Posts
Come with me if you want to live....
- #457,675
- Jan 28, 2018 7:36am Jan 28, 2018 7:36am
- Joined Dec 2013 | Status: Trader | 19,815 Posts
I currently only see short term shorts and still favor the dips as longer term buys as I have been doing for the past 15 months. There is absolutely no current evidence of the GBP dipping to parity this is simply wild speculation. A low has been met and tested now a high needs to be met and tested. If the GBP does not make the 62884 monthly average but turns to break the average then yes another LL may be on the cards. Currently I see the GBP rising in its zigzag fashion to the 62888 average, this is a long term view with many more minor trades...
- #457,678
- Jan 29, 2018 12:00am Jan 29, 2018 12:00am
- Joined May 2011 | Status: Get to the Chopper | 17,905 Posts
Come with me if you want to live....
