Cable Update (GBPUSD)

Quoting Bones

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Well that went well , lol, Hit my weekly target from my post on Sunday and more and attach that same unaltered weekly chart with the highlighted yellow target. There no way I gonna enter again today I feel ive been way to lucky.

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Quoting Ash

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GU around 2.10

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Quoting deboooo2005

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i get out @ 1.9674 .... no profit ... no lose ... if 1.9720 not broken ... we will fall and if break it we go up

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Quoting Abuawad

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By the way, you don’t have to follow me… follow your analysis and your chart. ok

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Quoting salah k.

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bones did
well done

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Quoting Runway Trade

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I know this has been a nice run up,butAsh can you please comment on the monthly chart. Two pin bars so price should turn, but there was two pin bars in Feb and March 2007 as well but prices went up. MA crossing, Stoch in over bought on monthly chart. Lots of resistans over the years at around the 1.9855. Monthly chart still looking bearish?

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Quoting nAVIN2007

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u see salah..trading is more than just knowing what to do, its a bout focus as well as chart analysis..the biggest mistake we made was not going in the direction of trend and being stuborn and paid the price.
thx god it didnt cost us real money

my scalping days are over!

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Quoting Ash

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With the possibility of the Fed cutting rates by .50 basis points, the Bull's coming back, GU along with other higher yieleding currencies will be making new highs so long as the market is willing to tolerate risks.

Nothing is concrete / 100%. Everything is purely speculation. Like Bullrock stated "5% fundamental & 95% technical".

Follow the charts on the higher TF's and you will get a clearer picture.

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Quoting salah k.

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u have to remember BOE meeting is be4 FED meeting

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Quoting nAVIN2007

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it wasnt luck just excellent entery...welldone buddy

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Quoting Bones

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Nav/Salah I have no idea why this is true but if you draw a TL on a 4 hr chart it does not translate well down to a 15 without tweaking, it’s the same whenever you try to get lines from one extreme TF to another.
I do feel bad I told you I would have put my stop loss under that steep TL in fact I would not I actually .I would have it under the more major one if I was to have one close by price but did not want anyone to lose money on my account. But really when you think about it that advise would actually cost someone money.
But really you are still missing the point, you did not need to get that line to the 15 min as everything you needed was right there in the 4 Hr all that noise on the 15 min got you on the wrong side of market, no?

The other thing I forgot to mention is that the four hour bar before that looks like an inverted hammer, actually looked quite bullish to me as it looked like there was a lot of profit taking at the 9750 resistance but the overall the immediate 4hr trend was intact.
The point is all this was much easier to spot than being zoomed in on a 15 min.

Don’t get me wrong I know im keen and green ,but I see you as keener and greener ,so maybe I can help you ,do you know what I mean?

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Quoting Ash

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With the possibility of the Fed cutting rates by .50 basis points, the Bull's coming back, GU along with other higher yieleding currencies will be making new highs so long as the market is willing to tolerate risks.

Nothing is concrete / 100%. Everything is purely speculation. Like Bullrock stated "5% fundamental & 95% technical".

For now, if the bulls are truly back, we can probably see 2.03, only if this is a true bull rally but from the looks of it, it seems as though.

Follow the charts on the higher TF's and you will get a clearer picture.

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Quoting Moe

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selling this pair was a big mistake for any one who went short, long all the way, 4x trader we was on the same path

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Quoting Bones

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Nav/Salah I have no idea why this is true but if you draw a TL on a 4 hr chart it does not translate well down to a 15 without tweaking, it’s the same whenever you try to get lines from one extreme TF to another.
I do feel bad I told you I would have put my stop loss under that steep TL in fact I would not I actually .I would have it under the more major one if I was to have one close by price but did not want anyone to lose money on my account. But really when you think about it that advise would actually cost someone money.
But really you are still missing the point, you did not need to get that line to the 15 min as everything you needed was right there in the 4 Hr all that noise on the 15 min got you on the wrong side of market, no?

The other thing I forgot to mention is that the four hour bar before that looks like an inverted hammer, actually looked quite bullish to me as it looked like there was a lot of profit taking at the 9750 resistance but the overall the immediate 4hr trend was intact.
The point is all this was much easier to spot than being zoomed in on a 15 min.

Don’t get me wrong I know im keen and green ,but I see you as keener and greener ,so maybe I can help you ,do you know what I mean?

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Quoting Subdude

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You have to be insane to get in long at this point. 150 pips in 3 hours - the UK fundamentals do not support this rapid pace, just watch what happens when the GDP number falls below expectations which will be the third release in 24 hours to be negative. This is a purely commodity-driven rally -- look at the silver price. The Fed will not be cutting by 50 bp in March given all the U.S. inflation data, as well as recovery in the equity markets.

Then again, emotion always comes before reason in the markets, so all you can do is roll with it and possibly profit from the euphoria as well as the panic.

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Quoting Subdude

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You have to be insane to get in long at this point. 150 pips in 3 hours - the UK fundamentals do not support this rapid pace, just watch what happens when the GDP number falls below expectations which will be the third release in 24 hours to be negative. This is a purely commodity-driven rally -- look at the silver price. The Fed will not be cutting by 50 bp in March given all the U.S. inflation data, as well as recovery in the equity markets.

Then again, emotion always comes before reason in the markets, so all you can do is roll with it and possibly profit from the euphoria as well as the panic.

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Quoting nAVIN2007

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the thing is with a rally like that who the hell would go short? ..it will only go down if theres resistance level which frightens people. psychology will prevent sellers from entering right now..this is nuts but nice to see happen it gives hope

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