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Cable Update (GBPUSD)

  • #457,921
  • Feb 15, 2018 1:23pm Feb 15, 2018 1:23pm
my view on GBPUSD

Attached Image
I Can be What I Will to be
  • #457,922
  • Feb 15, 2018 2:13pm Feb 15, 2018 2:13pm
Quoting Aleksbuk
{quote} you did not hear correctly. I always used the word provocation and the word consolidation
Instead of a word "provocation", you can use "British Pound tried to breakout/breakdown" or "tried to go out of range". I like your good analyses.
When you're not sure Short or Long - toss a coin! Chances are 50% !!!
  • #457,923
  • Feb 15, 2018 3:45pm Feb 15, 2018 3:45pm
Quoting ItsAtrap
Hello Cable traders and speculators! The forum seems to have lost some of its interest in Cable just as it's heating up! Odd eh? I don't have a position on the pair itself but am playing on the Gilts front, so this is the most relevant thread I could think of to post my current trade. It's a short on gilts, first entered a few days ago and then added to,, a couple days later. Stops were initially at the top pink line. Then at the highest red line, now at the lowest red (break-even on the first entry positions). Hopefully they will survive this week...

Hello Cable traders!

I hope many of you are riding the GBP bull which, I know, makes little fundamental sense atm but hey, it's there and looks like it will stay until it takes the highs of the Brexit spike bar. I am still GBP long.

But I have closed another UK-related trade which I had first posted here (in the absence of a Gilts-related thread) in September 2017: my long-dated Gilt shorts (these are UK government bonds for those who don't know). Back then I had posted entries and my target as 121.50. That target was hit a few days ago. As you can see, I have now started placing buy orders. I expect Gilts (and US Treasuries) to start reversing over the next few days.

It's be interesting to see Treasuries/Gilts and stockmarkets both rise at the same time
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  • #457,924
  • Feb 15, 2018 6:05pm Feb 15, 2018 6:05pm
Quoting Bones
says the man who made up bear support {quote} {image}
What I say is the Bears FIND Support for their action. Would you prefer I say the market is showing evidence of barracking for the the bears.

There are many forms of supports and resistances including the strange notion of a round number level. Mostly they are simply suggestive that something may happen.

Some people use the levels of the Bollinger bands which is a strange thing to do because it follows price, price does not follow it.

Again some people use various EMA's or SMA's.

Others look left for levels.

The ones I use in my particular trading method are where I see a specific place where the Bulls or Bears FIND support and when they do they take out the previous average level. Thus we are looking where the action is failing and where it is being successful and can see the probable limits of the current action. A very simple story once the concepts are understood and taken in as a whole and not out of context.

Many other people are well aware of what I am talking about since hundreds of us have taken over ten years to develop this.

Here is my 5 in chart and if you understanding good on ya. I trade the fact of what I see at the time not what I think it may do in the future, works for me but I still don't see anything provocative about it.
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  • #457,925
  • Edited 9:48pm Feb 15, 2018 7:25pm | Edited 9:48pm
Quoting Nala66
{quote} What I say is the Bears FIND Support for their action. Would you prefer I say the market is showing evidence of barracking for the the bears. There are many forms of supports and resistances including the strange notion of a round number level. Mostly they are simply suggestive that something may happen. Some people use the levels of the Bollinger bands which is a strange thing to do because it follows price, price does not follow it. Again some people use various EMA's or SMA's. Others look left for levels. The ones I use in my particular...
Good analysis.

My chart and analysis. Target Daily R1. It is 1.4137.
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Intraday only.
  • #457,926
  • Feb 15, 2018 8:18pm Feb 15, 2018 8:18pm
Bears look resistance
Bulls look support
if the way you describe is a taught method go link it, your describing the same action

I know straight away what provocation means, probably a language thing
At least he says every time what he thinks clearly, yet you don't get it

I'm not interested in painted charts once its done I get rid of it unless I think its handy for the future


Quoting Nala66
{quote} What I say is the Bears FIND Support for their action. Would you prefer I say the market is showing evidence of barracking for the the bears. There are many forms of supports and resistances including the strange notion of a round number level. Mostly they are simply suggestive that something may happen. Some people use the levels of the Bollinger bands which is a strange thing to do because it follows price, price does not follow it. Again some people use various EMA's or SMA's. Others look left for levels. The ones I use in my particular...
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #457,927
  • Feb 15, 2018 8:20pm Feb 15, 2018 8:20pm
Bol bands are great if your reading price ,best indicator there is for me
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #457,928
  • Feb 15, 2018 8:32pm Feb 15, 2018 8:32pm
you gotta label a chart like that live
with regular updates
course its easier with higher time frame to update and link it together

Quoting Nala66
{quote} What I say is the Bears FIND Support for their action. Would you prefer I say the market is showing evidence of barracking for the the bears. There are many forms of supports and resistances including the strange notion of a round number level. Mostly they are simply suggestive that something may happen. Some people use the levels of the Bollinger bands which is a strange thing to do because it follows price, price does not follow it. Again some people use various EMA's or SMA's. Others look left for levels. The ones I use in my particular...
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #457,929
  • Feb 15, 2018 8:38pm Feb 15, 2018 8:38pm
It's just resistance coming off support
Bulls found support
Bears could look res
but I would think open this week is safe ,so I forward thought this weekly will be failed bear move , this weekly likely gave bears a problem

Quoting Bones
50,400 seconds for my scalper brothers rolled into one {quote} {image}
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #457,930
  • Feb 15, 2018 8:47pm Feb 15, 2018 8:47pm
that's why I wouldn't agree to that move
Quoting Noor16
Be ready.............................. {image}
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #457,931
  • Feb 15, 2018 9:41pm Feb 15, 2018 9:41pm
Or this on the hourly....
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Lost....
  • #457,932
  • Feb 15, 2018 10:42pm Feb 15, 2018 10:42pm
Quoting navk
{quote} Good analysis. My chart and analysis. Target Daily R1. It is 1.4137. {image}
Done. Now sold at 1.4137. stop 5 pips. 1.4142.
Intraday only.
  • #457,933
  • Feb 15, 2018 11:01pm Feb 15, 2018 11:01pm
stopped out of sell trade. Took another sell trade at 1.4144. stop 6 pips.
Intraday only.
  • #457,934
  • Feb 15, 2018 11:57pm Feb 15, 2018 11:57pm
Quoting navk
{quote} Good analysis. My chart and analysis. Target Daily R1. It is 1.4137. {image}
Thanks Navk that's another form of support and resistance I failed to mention i.e. the daily support and resistance levels. There are also trend lines, channel lines, triangles and on and on it goes...

I really don't give two hoots for most of this stuff because it does not tell me anything. that is not to say it is not of interest to other people.

Bones wants a blow by blow account of the 5 minute and 1 minute charts, well he is not going to get it. I am far too busy at those times.
  • #457,935
  • Feb 16, 2018 12:12am Feb 16, 2018 12:12am
Inserted Video
  • #457,936
  • Feb 16, 2018 12:16am Feb 16, 2018 12:16am
Uptrend, broken resistance 1.4065 which is also daily PP, price may come up to resistance 1.4152 which is also weekly R2 and then go down, because there was no bigger correction yet
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  • #457,937
  • Feb 16, 2018 12:28am Feb 16, 2018 12:28am
Quoting Nala66
{quote} Just to cheer you up a tad the daily has a target of 4287 but don't hold your breath for that. Your 3950 should be an easy do. {image}
I quoted this 3 days ago if you want trumpet blowing Bones. This is far too far away for me to trade long term but it does give me inference as to the main direction I should be taking my trades..

You however had your sloping line as usual which got smashed like it wasn't even there. So don't tell me I don't quote in advance.
  • #457,938
  • Feb 16, 2018 4:02am Feb 16, 2018 4:02am
Quoting navk
stopped out of sell trade. Took another sell trade at 1.4144. stop 6 pips.
closed at 1.4097.
Intraday only.
  • #457,939
  • Feb 16, 2018 4:08am Feb 16, 2018 4:08am
Quoting navk
{quote} closed at 1.4097.
Well done that man...

I am short from 4136 and still going... I just keep moving my stop
  • #457,940
  • Feb 16, 2018 4:21am Feb 16, 2018 4:21am
Quoting Nala66
{quote} Well done that man... I am short from 4136 and still going... I just keep moving my stop
I shall re take the short in NY session. It is still moving down. Daily s1 is the place to close. 4027.
Intraday only.
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