Cable Update (GBPUSD) | Page 9412 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

GBP/USD

Similar Threads

Cable Update - Continued 118 replies

Cable Update (GBP/USD) without Idiots 25 replies

cable short for gbpusd? 10 replies

Why is GBPUSD called cable? 76 replies

Cable (GBPUSD) vs Euro (EURUSD) 31 replies

Attachments: Cable Update (GBPUSD)
Exit Attachments

Cable Update (GBPUSD)

  • #188,221
  • Dec 17, 2009 11:35pm Dec 17, 2009 11:35pm
This depends on how one trades though.

One could draw fibos from the most recent Hi-low
Dec 16 to 17/18 now.
After the break from range.

Interestingly enough bearish M30 started exactly at 38.2.
Perhaps EAs or orders set activated.

I agree with the Higher TF fibo plotting though



Quoting Ctic
Put your fibs on the candles. You will see that everyday usually it retraces up to the 61.8, 50, 38.2 or 0 fib lines. Right now as we speak, it is on the 50 fib line a very excellent spot to continue moving downwards. When it does it may move with pretty good force as well, which may very well be in the London session.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #188,222
  • Dec 17, 2009 11:50pm Dec 17, 2009 11:50pm
:nerd:
Attached Image (click to enlarge)
Click to Enlarge Name: ba.PNG Size: 48 KB
  • #188,223
  • Dec 17, 2009 11:55pm Dec 17, 2009 11:55pm
Quoting XTrade
This depends on how one trades though.

One could draw fibos from the most recent Hi-low
Dec 16 to 17/18 now.
After the break from range.

Interestingly enough bearish M30 started exactly at 38.2.
Perhaps EAs or orders set activated.

I agree with the Higher TF fibo plotting though
I use 6 charts when I trade and drawing the fibs on each chart. What I do is the monthly chart, I take last months candle and put the fibs on from high to low on that candle alone. Translate that to the daily chart. The weekly goes to the 4 hour, daily to the hour chart and so down the line. It is amazing to see how accurate doing it that way is. When they break lets say the fibs on the 15 minute chart you move up the line to the 30 min chart to the hour and so on. I have found the daily fibs tend to work the best most of the time. But I do scalp as well on the lower charts 1 minute, 5 minute and 15. And by the way since we have been writing this it has bounced down from the 50 fib to the 61.8 fib so I already have a 28 pip gain for the day (if I close now), but I won't since I do feel it is going down. Set s/l to be.
  • #188,224
  • Dec 18, 2009 12:02am Dec 18, 2009 12:02am
Quoting XTrade
This depends on how one trades though.

One could draw fibos from the most recent Hi-low
Dec 16 to 17/18 now.
After the break from range.

Interestingly enough bearish M30 started exactly at 38.2.
Perhaps EAs or orders set activated.

I agree with the Higher TF fibo plotting though
I agree.. it seemed bounce back and met resistance at exactly 38.2
  • #188,225
  • Dec 18, 2009 12:05am Dec 18, 2009 12:05am
[quote=Ctic;3315650]I use 6 charts when I trade and drawing the fibs on each chart. What I do is the monthly chart, I take last months candle and put the fibs on from high to low on that candle alone. Translate that to the daily chart. The weekly goes to the 4 hour, daily to the hour chart and so down the line. It is amazing to see how accurate doing it that way is. When they break lets say the fibs on the 15 minute chart you move up the line to the 30 min chart to the hour and so on. I have found the daily fibs tend to work the best most of the time. But I do scalp as well on the lower charts 1 minute, 5 minute and 15. And by the way since we have been writing this it has bounced down from the 50 fib to the 61.8 fib so I already have a 28 pip gain for the day (if I close now), but I won't since I do feel it is going down. Set s/l to be.[/q

from this point eu is going down today
  • #188,226
  • Dec 18, 2009 12:08am Dec 18, 2009 12:08am
Quoting FXTheOne
I agree.. it seemed bounce back and met resistance at exactly 38.2

got NOTHING to do with 38.,2

1.6200 is whole number and s.r on charts... keep it simple
Blogging daily now at www.volume.zone
  • #188,227
  • Dec 18, 2009 12:12am Dec 18, 2009 12:12am
Quoting Jemmy
hope big bears h1 candle closed in next half hour..
big bears candle has arrived..need one more with lower high lower low..to confirm..
Patience + Discipline =
  • #188,228
  • Dec 18, 2009 12:16am Dec 18, 2009 12:16am
Quoting Jemmy
big bears candle has arrived..need one more with lower high lower low..to confirm..
Waiting with you for confirmation of hourly downtrend. Support has not been tested. With an hourly close below the 24SMA, I will be looking for the trigger on the 1m.
Attached Image (click to enlarge)
Click to Enlarge Name: sup1.GIF Size: 27 KB
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #188,229
  • Dec 18, 2009 12:20am Dec 18, 2009 12:20am
entered long@6173.... SL 6123.... up, up n away...
  • #188,230
  • Dec 18, 2009 12:22am Dec 18, 2009 12:22am
Quoting malcolmb14
got NOTHING to do with 38.,2

1.6200 is whole number and s.r on charts... keep it simple
Just for kicks how do you suppose they come up with the 1.6200 number. Why not 1.6100 or 1.4800 or 1.0000? Is it just a magical number that comes from no where were the big boys put an imaginary brick wall on. Fib lines are what the big boys use to determine where the supports and resistances are. Thats where the bounces are and the 38.2 fib happens to be one. Fibs are like a tape measure. If you are going to build a wall and are planning to put studs every 4 feet do you guess where the four feet are or do you measure? Forex is the same way. I just use the fibs as my tape measure.
  • #188,231
  • Dec 18, 2009 12:27am Dec 18, 2009 12:27am
Quoting Ctic
Just for kicks how do you suppose they come up with the 1.6200 number. Why not 1.6100 or 1.4800 or 1.0000? Is it just a magical number that comes from no where were the big boys put an imaginary brick wall on. Fib lines are what the big boys use to determine where the supports and resistances are. Thats where the bounces are and the 38.2 fib happens to be one. Fibs are like a tape measure. If you are going to build a wall and are planning to put studs every 4 feet do you guess where the four feet are or do you measure? Forex is the same way. I just...
Here the 38.2 lv and 1.6200 are the same, so it may be confused... But actually, 1.6200 is more important imo
  • #188,232
  • Dec 18, 2009 12:28am Dec 18, 2009 12:28am
Quoting Ctic
Just for kicks how do you suppose they come up with the 1.6200 number. Why not 1.6100 or 1.4800 or 1.0000? Is it just a magical number that comes from no where were the big boys put an imaginary brick wall on. Fib lines are what the big boys use to determine where the supports and resistances are. Thats where the bounces are and the 38.2 fib happens to be one. Fibs are like a tape measure. If you are going to build a wall and are planning to put studs every 4 feet do you guess where the four feet are or do you measure? Forex is the same way. I just...
I agree my friend... F382 is "THE MOST: powerful retracement level.. in TA... if you know how to use it

cheers!
  • #188,233
  • Dec 18, 2009 12:39am Dec 18, 2009 12:39am
Fibs can be a good tool to use...

But depending on how or what time frame you are looking at, you really have to see the rest of the story.

Each of the Fib lines you will find EMA's to support.

The one chart not posted here, 4hr, shows next topside resistance of 1.4244 area, which will be a Fib50 retrace on the top to bottom....

Current top on bull..Fib 50 on hourly...55EMA.

Current fall back...Fib 50 on 15m...

Stalled rise...Fib 38.2 on the 5m...200EMA

Just some observations...beats me blowing spit bubbles and arguing don't it?
Attached Image (click to enlarge)
Click to Enlarge Name: fibs.GIF Size: 75 KB
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #188,234
  • Dec 18, 2009 12:39am Dec 18, 2009 12:39am
Quoting FXTheOne
Here the 38.2 lv and 1.6200 are the same, so it may be confused... But actually, 1.6200 is more important imo
It's the same thing that is my point. The 1.6200 is derived from the measuring tool which are the fibs.
  • #188,235
  • Dec 18, 2009 12:41am Dec 18, 2009 12:41am
OK let's Clarify this.

Someone who trades only using lower TFs say M5 to M30
May consider the 38.2 fibo similar if not the same as a
50% line on higher TF,
reason being they are in and out. Thus, a move from a few days ago may
be invalid if another High - Low range has been fiboed.

The same trader that took two lots and sold at 50% on higher TF fibo plot
makes the same pips that the lower TF trader that took 4 and sold on 38.2
No?
More risk attached, yet if you are aware of higher TFs and trend yet like to trade for shorter periods of time and trust your system then
Essentially we are grabbing the same apple.

The sentiment is the same/similar.

Edit: I hat the decorrelation of Fibre and Cable this was so great for so long.
Too much fibre weight on the DX
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #188,236
  • Dec 18, 2009 12:42am Dec 18, 2009 12:42am
Quoting Magix
Fibs can be a good tool to use...

But depending on how or what time frame you are looking at, you really have to see the rest of the story.

Each of the Fib lines you will find EMA's to support.

The one chart not posted here, 4hr, shows next topside resistance of 1.4244 area, which will be a Fib50 retrace on the top to bottom....

Current top on bull..Fib 50 on hourly...55EMA.

Current fall back...Fib 50 on 15m...

Stalled rise...Fib 38.2 on the 5m...200EMA

Just some observations...beats me blowing spit bubbles and arguing don't it?
Mafix, now your talking! You and I are on the same page and that is the exact way I use the fibs.

They work for me and I average about 100 pips a day. So if it isn't broken why fix it.
  • #188,237
  • Dec 18, 2009 12:45am Dec 18, 2009 12:45am
Quoting XTrade
OK let's Clarify this.

Someone who trades only using lower TFs say M5 to M30
May consider the 38.2 fibo similar if not the same as a
50% line on higher TF,
reason being they are in and out. Thus, a move from a few days ago may
be invalid if another High - Low range has been fiboed.

The same trader that took two lots and sold at 50% on higher TF fibo plot
makes the same pips that the lower TF trader that took 4 and sold on 38.2
No?
More risk attached, yet if you are aware of higher TFs and trend yet like to trade for shorter periods of time...
Agreed. I believe that you are right on with your analysis here. The main thing is if you are going to use them, you have to know how to use them.
  • #188,238
  • Dec 18, 2009 12:45am Dec 18, 2009 12:45am
Quoting Ctic
Mafix, now your talking! You and I are on the same page and that is the exact way I use the fibs.

They work for me and I average about 100 pips a day. So if it isn't broken why fix it.
What ever is working for ya...

The big picture is really made up of little pictures. Hope this helps out...

I watch the Fibs as well, but use the support and resistance created by the Moving averages that seem to truly define these ranges.

24SMA seems to be the leading on Cable for support/resistance, and for me, the 15m seems to define the trend.

But hey, we all gotta have something to believe in.

Sure beats the hell outa dart board stock picking don't it?

Buwahahahahahahah
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #188,239
  • Dec 18, 2009 12:56am Dec 18, 2009 12:56am
Quoting Magix
What ever is working for ya...

The big picture is really made up of little pictures. Hope this helps out...

I watch the Fibs as well, but use the support and resistance created by the Moving averages that seem to truly define these ranges.

24SMA seems to be the leading on Cable for support/resistance, and for me, the 15m seems to define the trend.

But hey, we all gotta have something to believe in.

Sure beats the hell outa dart board stock picking don't it?

Buwahahahahahahah

I use the moving averages as well. Like you said the big picture is a lot of little pictures in one.
  • #188,240
  • Dec 18, 2009 12:59am Dec 18, 2009 12:59am
Quoting Bebetomuda
entered long@6173.... SL 6123.... up, up n away...
And you're gonna get your ass handed to you....
1,815 traders viewing now