Cable Update (GBPUSD)

That would look the biggest bearish daily candle considering years. Statistically will be difficult.

I'm glad that catching falling knifes is something from the past.

All i see is a big candle on my TF, no entry up or down.

Moe.. i've got to tell you, sometimes i confess that i have a hard time to avaliate how are you doing in fact. But in times like this seeing you saying "i don't know where this is going, so i stay out."

I have to give you the credit.

This huge move down today gives me the absolute convinction that all the so called analysts and forex experts that get paid 6 figures incomes by big banks etc. don't know crap about forex.

It is all a bunch of BS what they say. All they do is make up reasons of why things happen after they occurred, trying to make it sound like it was obvious it is was going to happen etc.

In the end they have no idea what the hell happens.

Ok, I feel better know

There is a lot of panic selling going on now...people have no idea what to do. As soon as things cool down the "believers" will start buying again, but in the end tomorrow's news will determine where this is heading.


All I know is that a big green candle has to appear sooner or later, it can't go down forever....

+The 1 hour chart rules the roost. 15 min showing signs of recovery here.

i hope bounce up to 300................ then ????

next clothes for cable : naked ...

changed 4 clothes already: 500's 400's 300's 200's and then naked

Channel anyone?

...keep your sell or take what u have and run,then come back at 5EST i'll tell you where to buy/sell !

If you look at daily chart back in July the same thing happened. It was then followed by 5 days of green candles.

That's what logically should happen. Thing is, if tomorrow's news is good for the US, who knows what the hell is going to happen...

stupidity + leaving the rules

Buying up makes sense only for short term, quick, small (very small) pips, but it is very risky...

safer to go with the trend..

the trend is still up, if 9666 holds....

Yeah but usually when there is such a huge selloff you can never really know if it is a trend or only a big correction...

and i would add greed brother....

this one looks good enough to trigger a sell on rally trend

just got to wait and see

yes, it should be a bounce. but i don't see any reversal signs so i'm not going long yet.
if 2.0260 is broken, i will pay attention next to 2.0240, then 2.0200 and then 2.0160. i'll go long at one of these levels IF I SEE A REVERSAL PATTERN.

No it's 2.964532 precisely

Ah...forget about it, this thing is not going to show any reversal, at least not before tomorrow's session, and I do not expect a big one anyways, since this huge selloff will keep a lot of buyers on the safe side for now.....

The December U.S. dollar index futures on Monday scored a fresh contract and all-time low, but then reversed course to move higher and as of this writing Monday morning were scoring a bullish "outside day" up on the daily bar chart, whereby the high is higher and the low is lower than the previous session's trading range, with a higher last trade. Given that the dollar index also scored a fresh contract low Monday, the solid rebound in prices has also produced a potentially bullish "key reversal" up on the daily bar chart. However, it will take follow-through buying strength in the U.S. dollar index futures on Tuesday to confirm the bullish key reversal up, which would be a technical clue that a market low in the index is finally in place. Traders will continue to have a keen focus on the value of the U.S. dollar against the other major currencies, and the dollar index is a key single barometer for such focus. If the U.S. dollar index continues to rebound, then futures markets like gold, crude oil and other raw commodities will likely feel downside selling pressure. The aforementioned futures markets had recently saw upside strength due to fresh speculative buying in the wake of the recent decline in the value of the greenback versus the other major currencies. Stay tuned!