Cable Update (GBPUSD)

Was hoping UJ would follow Cable and assist in my short on Geppy. As it stands, the Dragon is wrapping up the week more like a Dodo. Pff... wanted 200-ish pips, got 80. With the hour to go, it is a question of whether to close up shop for the weekend, or place a stop in the door and hope nobody comes in to steal before I get back to the till on Monday.

Regardless, hope all have a pleasant weekend.

Hi...what do you think?

Will GBP/USD will continue its journal to hit 1.6170 for the next following days??? or it wont happen for this month...

Please share......

yes

No Allow me to salute you, sir im no better then the next trader, i might make more or less money but im no better

Sorry to all, and blame Smikester for the following flooding of the thread. I just got carried away this weekend after Smikester’s question earlier in the week on Stocky’s thread, and thought I would reproduce elsewhere, as well. The following submissions are based on the expectation that Cable will break north of the 1.64 zone, and are preparatory observations for mid to long term entries.

Post broken into two owing to attachment constraints of FF.

Three charts with slightly different projections.

hI...what do you mean by "YES" ?? will it goes to 6.170..??? or not????

Thanks for the analysis 45Condor, much appreciated.

You're more than welcome. Now, the way to use this analysis is to do the opposite of what I'm doing. That way, you might make some money.

I am betting that way. I am short from 6300 looking for 6050 in the next 10 (working) days.

Also have entry order waiting on GBP/CAD to open at 1.55500 long for 200 pips. Despite having the entry order to open long, I do not have to confidence to short GBP/CAD in case it does not drop that low.

Current positions:

Short Cable = 1.6300 + 1.62500 with targets at 1.60500

Long GBP/CAD = 1.56500 + entry order at 1.55500 looking for 1.57500

Hi, nice chart and analysis.

I am curious about the macd (?) that you use on your last H1 chart. What is the meaning of gray and yellow bar, it seems like there is volume.? Thank you if you can give an explanation.

I also use macd for the consideration of my entry/exit once the price breakout of range or S/R.
.

Hi Gsantri,

It is a CCI plot.

I am told the grey is supposed to mean trend change to one side or the other, the yellow, conformation of such. I must admit that I pay little attention to it, but still use it.

It was a proprietary indicator given to me by trader down under, and as such, is not my work... should anyone be curious.

Hi Guys

This is the first time i am posting in FF. As for cable i am going to try short at 1.63095. Might regret, but one thing i learned is to only listen to yourself and yourself only.

Offcourse by all means learn from others, thats what this forum is for.

Looking at the stream of charts is confusing enough but to have a thousand voices, killer combination.

Thank you for the honor, sir. I just feel like posting here during weekend, it looks like LONG for tomorrow since it didn't manage to push down past 6287. Well, I guess we'll see some development tomorrow. Happy Sunday to you guys !!

Good day to you,

Searching for direction? Me too.

Looking at the longer term picture going into a new week, I look at where the possible extremes may be. Looking at a longer term chart, it becomes slightly more challenging to pinpoint these. So I can only react to areas or zones.

The bottom extreme is currently sitting @ 1.6120 to 1.6140 and the topside @ 1.6450 to 1.6470. Price is currently floating somewhere inbetween. So the question now is: Which extreme first?

Looking at some indicators, I would like to make a guesstimate. Some downside pressure will remain for a push to 1.6120 - 1.6140. BUT - 1.6400 may still be challenged first. Selling rallies may be of lower risk for now. If price runs to 1.6450-1.6470 from here - we can prepare for a downward leg that could take us back to 1.6150 or so. Should we head to 1.6120 - 1.6140 first, we can prepare for a long towards a possible new high.

I will be sitting out for the initial start to the week and wait for a clearer picture to form. But when the entry comes - it will be for some serious pips.

Take care as price is looking for direction - time your entries well and keep your head on straight. I will be sure to post my entry when the time comes.

All the best

http://img8.imageshack.us/i/71813619.gif/http://img8.imageshack.us/i/71813619.gif/I think the price will touch 1.6240 and bounce back to 1.6300.
http://img8.imageshack.us/img8/6136/71813619.gif

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Ok thanks 45Condor, all the best to you.

Regards,

thats my answer "YES"

keep all shorts on GU

we'll see 1.5700