why does cable reverse almost every day | Forex Factory

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why does cable reverse almost every day

  • #1
  • First Post: Sep 29, 2006 2:18am Sep 29, 2006 2:18am
why does the cable reverse almost every day at around 14:00 GMT ?
  • #2
  • Sep 29, 2006 2:36am Sep 29, 2006 2:36am
Quoting jthxxxgfh
why does the cable reverse almost every day at around 14:00 GMT ?
Hi

Sometimes in fact it reverses. The reason is that NY session starts at this time. So usually at 12 or 13 and later cable slows down, consolidates waiting for NY open.

Look at daily news list,fibos, support and resistance lines in order to foresee (or at least to be more careful) the possible change of trend

Hope this helps...

D.
Quidquid latine dictum sit altum viditur
  • #3
  • Sep 29, 2006 3:07am Sep 29, 2006 3:07am
it usualy doesnt change direction its just minor retracment lets call it end-of-the-day-retracment


and another question....

who is the other side of the trade when so many people going short now like cable doing right now?
  • #4
  • Sep 29, 2006 8:28am Sep 29, 2006 8:28am
Quoting jthxxxgfh
and another question....

who is the other side of the trade when so many people going short now like cable doing right now?
Why it's your evil broker. The same one you hated when the market was choppy. A market maker has to show you a market in all conditions. Yes, he has a small bag of stunts that he can use on you but if you hold your trades and trade with the trend there's not much he can do.
  • #5
  • Sep 29, 2006 8:33am Sep 29, 2006 8:33am
Quoting jthxxxgfh
it usualy doesnt change direction its just minor retracment lets call it end-of-the-day-retracment


and another question....

who is the other side of the trade when so many people going short now like cable doing right now?
Me, and if I had to guess I would say merlin and Bk too. LOL
Profit is where readiness meets Opportunity
  • #6
  • Sep 29, 2006 8:46am Sep 29, 2006 8:46am
Quoting FXopportunist
Me, and if I had to guess I would say merlin and Bk too. LOL
Yes! I forgot to mention people who try to guess when the trend is over.
  • #7
  • Edited 10:08am Sep 29, 2006 9:08am | Edited 10:08am
Quoting philmcgrew
Yes! I forgot to mention people who try to guess when the trend is over.
lol, more likely those who swing a big bat and were short above 1.29 and are now buying to cover some of their position and putting 300-400 points in their pockets for end of the month profits.
  • #8
  • Sep 29, 2006 9:11am Sep 29, 2006 9:11am
Quoting philmcgrew
Yes! I forgot to mention people who try to guess when the trend is over.
Phil! You know better than that! It is a short term exhaustion spike fade. If I am in one of those for more than 15 minutes, wake me up, I have fallen asleep!
Profit is where readiness meets Opportunity
  • #9
  • Sep 29, 2006 9:37am Sep 29, 2006 9:37am
Keep your eye on the big picture~
Attached Image
Trade what you see - Not what you think
  • #10
  • Sep 29, 2006 10:01am Sep 29, 2006 10:01am
Quoting summitfx
Keep your eye on the big picture~

OK, I'll bite, what's the big picture? The GBPUSD is at the same level it was 18-20 months ago.
  • #11
  • Sep 29, 2006 10:34am Sep 29, 2006 10:34am
Quoting philmcgrew
OK, I'll bite, what's the big picture? The GBPUSD is at the same level it was 18-20 months ago.
Phil, was that the last time you took a trade?:
Profit is where readiness meets Opportunity
  • #12
  • Sep 29, 2006 10:35am Sep 29, 2006 10:35am
Quoting jthxxxgfh
and another question....

who is the other side of the trade when so many people going short now like cable doing right now?
in theory exporters hedging their profits, large corporate accounts, long term traders (position traders) on interbank market via your broker. in practice - probably your broker or his other client going long at this time...

todays cables's rally started at Londob session a large US investment house selling a lot of lots... i've heard such rumors
Quidquid latine dictum sit altum viditur
  • #13
  • Sep 29, 2006 10:36am Sep 29, 2006 10:36am
Wake up Phil it's 2006


Quoting philmcgrew
OK, I'll bite, what's the big picture? The GBPUSD is at the same level it was 18-20 months ago.
Trade what you see - Not what you think
  • #14
  • Sep 29, 2006 10:37am Sep 29, 2006 10:37am
Quoting summitfx
Wake up Phil it's 2006
OK, I"m awake. What's the big picture?
  • #15
  • Sep 29, 2006 10:42am Sep 29, 2006 10:42am
The picture is you missed a lot of pips during the past 20 months. What's your point? Are you a trader?
Trade what you see - Not what you think
  • #16
  • Sep 29, 2006 10:44am Sep 29, 2006 10:44am
Quoting summitfx
The picture is you missed a lot of pips during the past 20 months. What's your point? Are you a trader?
You said keep your eye on the big picture. I'm just curious as to what that is. This doesn't have to be personal. I thought you were going to teach us something.
  • #17
  • Sep 29, 2006 10:50am Sep 29, 2006 10:50am
Ah come on Phil- It's been a long week. It's never personal! I hope you had a good week. The thread is "why does the cable reverse almost every day" and my point was to keep an eye on the big picture. If you don't understand the concept of the big picture, I can't help you.
Cheers~
Trade what you see - Not what you think
  • #18
  • Sep 29, 2006 12:40pm Sep 29, 2006 12:40pm
Quoting summitfx
Keep your eye on the big picture~
That picture's not big enough for me to read the print;however, what I see is some wonderful trends to trade on what I am assuming is the crossover of moving averages.
That chart kind of makes me horny. I love that pair. :
btw, I think the answer to the thread is........ it does not matter, unless you figured out a way to reliably exploit retracements to squeeze significantly more pips out of those big voluptuous trends.
Whenever I try to outsmart the market, I usually get shafted though.
Not just a little shafting either, usually the market is pretty rough with you.
  • #19
  • Last Post: Sep 29, 2006 7:49pm Sep 29, 2006 7:49pm
Quoting jthxxxgfh
and another question....

who is the other side of the trade when so many people going short now like cable doing right now?
This is exactly why I closed my short position today before the weekend...If there are so many shorts, then who is actually left to sell or go short?? I have noticed that some indicators are pointing towards taking profits & stop selling Of course this doesn't mean that the pair is reversing & going to move higher, but certainly there is a bad sign against being short....


Thanks,

Nader
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