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Cable Update (GBPUSD)

Quoting bullrock
FX market is not a church, sorry.
I agree Bullrock - these god freaks are superstitious ninnies - they should keep it for church
We're currently at the 50% Fib from the 12/31 high of 2.0101 to the 1/22 low of 1.9336. At 1.9718 that is.
Quoting lessy
short @ 1.9639... close @ 1.9621..
kind a scary... thank you for reminding me...
shame on you for calling a bottom and then going short, stick to your plan. I did!!
Quoting allserene
I agree Bullrock - these god freaks are superstitious ninnies - they should keep it for church

superstitious ninnies ..i love it!!!!!
Quoting AmeriTrini
shame on you for calling a bottom and then going short, stick to your plan. I did!!
i thought the window was well spoted.......huh???? or was that just a fluke
61.8% from that high/low is 1.9808 which is also near the 1/4, 1/8 and 1/16 highs, so we may see some strong resistance in that area.
Quoting nAVIN2007
i thought the window was well spoted.......huh???? or was that just a fluke
i was long, since 1.9400!!! I stick to my plan.
Quoting AmeriTrini
i was long, since 1.9400!!! I stick to my plan.
welldone!!!!!! the good news is we can only learn from u
i wish u had a journal ...
cable facing First weekly resistance @ 1.9718 ... could cable break it or it will reverse to 1.9617 to long from there ... or to short from 1.9718 ...
Swing Trade, since 1,95 until 2.03 ...an lets GO!

Best Regards,
Marcelo Marques
Quoting deboooo2005
cable facing First weekly resistance @ 1.9718 ... could cable break it or it will reverse to 1.9617 to long from there ... or to short from 1.9718 ...
I show weekly resistance at 1.9739 and 23.6 fib retrace level ( daily ) 1.9768 , But I think this is a good time to sell. As it broke the daily channel and may retrace back to 1.9605/610 and bounce off the channel line.
Quoting dobbie11
I show weekly resistance at 1.9739 and 23.6 fib retrace level ( daily ) 1.9768 , But I think this is a good time to sell. As it broke the daily channel and may retrace back to 1.9605/610 and bounce off the channel line.
if u ask me the market is neutralizing...after such a bullish movement and now its overbought there hardly any movement down..the market is resting. i think it will resume bullish movement (macd neutralization) if it break the current resistance..to go long
I doubt it would go back that far to retest a trend line..at least i hope not!!!!!
Quoting nAVIN2007
if u ask me the market is neutralizing...after such a bullish movement and now its overbought there hardly any movement down..the market is resting. i think it will resume bullish movement (macd neutralization) if it break the current resistance..to go long
I doubt it would go back that far to retest a trend line..at least i hope not!!!!!
you may be correct I am also showing a the fib expansion of 1.618 at 1.9755 I have a short order pending at 1.9735 with a 50 pip sl and 100 pip tp
Quoting dobbie11
you may be correct I am also showing a the fib expansion of 1.618 at 1.9755 I have a short order pending at 1.9735 with a 50 pip sl and 100 pip tp
why do people like going short when the market is going UP!! these are the gamblers!!
Quoting AmeriTrini
why do people like going short when the market is going UP!! these are the gamblers!!
well it is all a gamble anyway isn't it. and I believe this is the beginning of wave "B" a correction of the the last move down. And you are correct sir the market is changing and going long. But we also need a minor retracement to form a wave 2 for a wave 3 up to complete wave "B" . So the 735 to 750 range is a nice short and tp at the 38.2 and 50 fib levels. This is a 2:1 risk. So how is it a gamble and before the move up I beleive we were looking short.
Quoting AmeriTrini
why do people like going short when the market is going UP!! these are the gamblers!!
its a pending order...incase it goes the other way....
Quoting AmeriTrini
why do people like going short when the market is going UP!!

Good question. I guess they know something we dont.....?




--TNT--
I Love Forex Factory!
Quoting nAVIN2007
its a pending order...incase it goes the other way....

Since it missed my short by 1 pip I have shorted at 1.9733. With a 55 pip sl and 100 pip tp.
Quoting dobbie11
Since it missed my short by 1 pip I have shorted at 1.9733. With a 55 pip sl and 100 pip tp.
That might be OK now. For a couple of reasons.
The GU went up enough for today as far as the averages are concerned. It has hit a 365 EMA from the bottom that acts as resistance. The 100 TP is OK too as a 89 EMA on the 4H chart and an upward sloping trendline might hold it around 1.9620 - 1.9630
.
Quoting dobbie11
well it is all a gamble anyway isn't it. and I believe this is the beginning of wave "B" a correction of the the last move down. And you are correct sir the market is changing and going long. But we also need a minor retracement to form a wave 2 for a wave 3 up to complete wave "B" . So the 735 to 750 range is a nice short and tp at the 38.2 and 50 fib levels. This is a 2:1 risk. So how is it a gamble and before the move up I beleive we were looking short.
if you think its all a gamble. instead, go the hard rock and "trade" there!
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