Cable Update (GBPUSD) | Page 13122 | 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)

  • #262,421
  • Oct 29, 2010 12:10pm Oct 29, 2010 12:10pm
Quoting AdrianHNV
Yes there is a very good chance of this, as this weeks trading has shown..And next week's will too

Good weekends to all......
We are definately in for a rollercoaster ride next week that's for sure. Money management should be the FIRST priority for us next week. Hope you have a great weekend everyone, God bless.
You've got to be IN IT to WIN IT!
  • #262,422
  • Oct 29, 2010 2:13pm Oct 29, 2010 2:13pm
Thanks Bbakker,

From yesterdays thursdays high i felt that 170 odd pips that it travelled and the fact that it was at the point where no weekly bar has closed above there for sometime, bit of a tall order really.

I thought that a pull back over night would happen back to the 50% fib, it was also in my mind that it wouldnt pull back to london open. Which of course the later happened.

Where it had pushed up to thursday close there were no buyers there (or not enough anyway) It has to come back support and found more buyers which gave it enough clout to push it higher.

Im sure this has crossed minds also, i have two platforms, ibfx for plotting moves which i can save any part of a chart to put up here.

Thats why you see no orders or stop loss on my charts

My trades are placed on GFT UK, for the life of me i cant save a chart, i can only print screen then i would have to blank out all my account details............ to be honest i cant be bothered.

Magix has opened my eyes to MA on the 5min charts

AUD/USD
USD/CAD
EUR/GBP

Were also good to me today. although for me the times when they cross arent always on open, it can be before or after. but its easy to have many charts up just showing a small area just to see the coming of the cross.

I really struggled with the short term stuff has taken me months to get a handle on it, but i continue to learn off many members of this thread. There are truly some great traders here.

I hope the new traders on the thread see beyond the "calls" that are made. and see the gems that are in plain view.

This trading game can change your life for the better.

or

it can ruin you.

Its your choice.

W
I need to finish something i started
  • #262,423
  • Oct 29, 2010 2:25pm Oct 29, 2010 2:25pm
If we loook at Monthly chart. we can see, pair goes to 38.2 fibo and now its time for them to go down. Good weekend for all.
  • #262,424
  • Oct 29, 2010 2:28pm Oct 29, 2010 2:28pm
We are setting up on daily to have the highest close since this upmove started. Does this signal some more upside movement to start next week?
Today's zone = Tomorrow's opportunity!
  • #262,425
  • Oct 29, 2010 2:31pm Oct 29, 2010 2:31pm
Quoting pres78
We are setting up on daily to have the highest close since this upmove started. Does this signal some more upside movement to start next week?
I dont think so, because I need to go down this pair, but 2. november and 3 november very important news.
  • #262,426
  • Oct 29, 2010 2:36pm Oct 29, 2010 2:36pm
But I want to know next week gap. On what size, up or down.
  • #262,427
  • Oct 29, 2010 2:39pm Oct 29, 2010 2:39pm
I remember one thing. Sorry about my english language, but when we look on history, we can see what. When important news in USA about parlament and FED, euro and pound goes down about month. This news in USA has one time in four years.
  • #262,428
  • Oct 29, 2010 2:59pm Oct 29, 2010 2:59pm
I sense the market on GU will open with a gap to the downside
  • #262,429
  • Oct 29, 2010 3:32pm Oct 29, 2010 3:32pm
Quoting uncletrumpet
I sense the market on GU will open with a gap to the downside
Thank you bro, I believe to you.
  • #262,430
  • Oct 29, 2010 4:06pm Oct 29, 2010 4:06pm
Quoting fourxtrader
Compression patterns insync on multiple timeframes often
have sufficient energy to carry through for larger moves.

It will be interesting to follow.

Dr. D.
Follow-up shots.

Dr. D.
Attached Images
  • #262,431
  • Oct 29, 2010 4:21pm Oct 29, 2010 4:21pm
Quoting Erinieks
Thank you bro, I believe to you.

Of course no one actually knows future price action, and i sense the poster who suggested a gap down is doing so froma gut feeling and no real tech analysis ? From your postings of needing this pairing to go down I guess you are currently in a short that has moved against you ?
ex member
  • #262,432
  • Oct 29, 2010 4:29pm Oct 29, 2010 4:29pm
The weekly chart attached shows the bullish thrust engulfing candle that just closed on this t/f....a bullish sign. As point c came at the 138% fib extension of the a-b move, so the point d came at the 38.2% fib retracement of the b-c move, so the move up from point d targets a fib extension of the c-d move, probably 127-138-161.8% shown on the screenshot below, the 138% of c-d around the 76.4% of the f-b move on that t/f. Below that a descending trend line on this weekly t/f , with a monthly descending trend line coming through above it- Below that and the next most obvious fractal previous swing hi zone on this t/f where the 76.4% of the e-b move awaits along with the 161.8% extension of the c-d move.


G/L

http://www.easy-upload.net/fichiers/...1029232933.gif
ex member
  • #262,433
  • Oct 29, 2010 4:44pm Oct 29, 2010 4:44pm
Monthly too closed bullish as did Daily. candle Of course Monday is a new month/week so notwithstanding where the new monthly/weekly pivots may fall, the next most obvious area of potential resistance is the previous 4hr/daily swing hi zone leading up to that 6107 Hi.

G/L

http://www.easy-upload.net/fichiers/...1029234329.gif
ex member
  • #262,434
  • Edited 6:35pm Oct 29, 2010 4:47pm | Edited 6:35pm
Quoting Erinieks
I dont think so, because I need to go down this pair, but 2. november and 3 november very important news.

You are right, some important fundie data releases next week which may have a bearing on this pairing, either way, but as things stand, do you really think it looks technically bearish overall?

Anything can happen though.

G/L
ex member
  • #262,435
  • Oct 29, 2010 6:47pm Oct 29, 2010 6:47pm
Quoting Erinieks
But I want to know next week gap. On what size, up or down.
Well... IF we gap up on Sunday we would be gapping up into a supply zone and this is what I would call a novice gap. Watch the following webinar to understand the difference between novice and professional gaps -

http://www.fxstreet.com/webinars/ses...2-58e60f5d5814

IF we gap up into the supply zone, I will be shorting with 1st target at gap close, 2nd target at ~1.59 and a final target of ~1.58. My final target is not impossible, but it will need to eat through some serious demand zones to get there!

If you look at the weekly chart, I am afraid I have some bad news for you. After this week's close, it shows a bullish engulfing candlestick formation on the weekly chart, so I can see 1.6465 as the top side target. I am not convinced yet on any higher than this. Therefore I am bullish on this pair, but we should see a retracement first before making new highs! We are still in consolidation at the present moment!

Better than expected GDP results this week indicate that QE2 is less likely by the BoE in 2010, hence the rally and better performance than EU this week with general Dollar weakness. Look at the cross-pair EURGBP chart which will confirm this.

But hey this is Forex and anything can happen.

Next week could be a historic week in Forex with some all time levels being blown away on some USD pairs, but it all depends on what comes out of Bernanke's mouth!

Good luck with those shorts of yours. At least you have one thing going for you... the actual amount of money you put on the line is small and you are smart enough to start out in Forex using a Micro account. If you do lose your $140 account, just call it the price of learning and believe me, this is a cheap lesson, so long you learn from it. You learn more from your losing trades than your winning trades, but only if you review and analyse them at the end of each day!

As my mentor says - "Trading is not easy, but it is simple"
  • #262,436
  • Oct 29, 2010 7:00pm Oct 29, 2010 7:00pm
Quoting bbmac
The weekly chart attached shows the bullish thrust engulfing candle that just closed on this t/f....a bullish sign. As point c came at the 138% fib extension of the a-b move, so the point d came at the 38.2% fib retracement of the b-c move, so the move up from point d targets a fib extension of the c-d move, probably 127-138-161.8% shown on the screenshot below, the 138% of c-d around the 76.4% of the f-b move on that t/f. Below that a descending trend line on this weekly t/f , with a monthly descending trend line coming through above it- Below...
  • #262,437
  • Oct 29, 2010 7:20pm Oct 29, 2010 7:20pm
Yes, all tech are showing bullish, the Price action, the daily, weekly and monthly candles, everything...

Even the taxi driver told me to buy the cable....


Rothschilds used to say that when his taxi driver was telling him to buy a commodity, he was rushing out of it as quick as possible...


we will see... future will tell. but, remember, indicators, candles and all these stuff are still only representing the past... Future, no one knows....just speculate...
  • #262,438
  • Edited 7:54pm Oct 29, 2010 7:22pm | Edited 7:54pm


http://www.forexfactory.com/showpost...&postcount=856

Plan the trade and trade the plan,
http://www.forexfactory.com/showpost...&postcount=847

Filter noise and bad posters ....

Happy week and month end

rgd,iqyu

http://www.forexfactory.com/showpost...&postcount=842

http://www.forexfactory.com/showpost...&postcount=842
not euphoria follower
  • #262,439
  • Oct 29, 2010 7:57pm Oct 29, 2010 7:57pm
Hi Jackdan...

Sorry before and after.

If only speculation... why not just go to vegas ?

Rgds,Iqyu

Quoting jackdan
Yes, all tech are showing bullish, the Price action, the daily, weekly and monthly candles, everything...

Even the taxi driver told me to buy the cable....


Rothschilds used to say that when his taxi driver was telling him to buy a commodity, he was rushing out of it as quick as possible...


we will see... future will tell. but, remember, indicators, candles and all these stuff are still only representing the past... Future, no one knows....just speculate...
not euphoria follower
  • #262,440
  • Oct 29, 2010 8:59pm Oct 29, 2010 8:59pm
Quoting iqyu5an
Hi Jackdan...

Sorry before and after.

If only speculation... why not just go to vegas ?

Rgds,Iqyu
Don't you speculate? lol


basics of what we all do here, we speculate...
476 traders viewing now, 2 are registered:
Altaf249
,
ricmaj