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Cable Update (GBPUSD)

  • #298,041
  • Jan 15, 2012 1:16pm Jan 15, 2012 1:16pm
Quoting nAVIN2007
stop loss dont trigger when market gap..but dont worry u will be ok..now way i can see this level not being tested (actually forget i say anything not like i got anything thing right lately)..lol
90% of traders use TA, indicators and prediction
  • #298,042
  • Jan 15, 2012 1:17pm Jan 15, 2012 1:17pm
Quoting inpatient
correct, only when it actually moves through the range while tha market is open,

does this mean you could also remove a T/P @1.5250 if the market opens lower than this?

nothing triggers unless the blasted broker is open..this is why never scalp tradde when market is about to close a gap can easily..gap over the friggin entery or exit
  • #298,043
  • Edited 1:50pm Jan 15, 2012 1:28pm | Edited 1:50pm
Attachment Attachment
Quoting inpatient
www.xe.com
cant be bothered looking at other broker charts . Prices vary. PA is same.
Attached Image (click to enlarge)
Click to Enlarge Name: Untitled.png Size: 43 KB
All systems of divination, like music itself,work through patterns.
  • #298,044
  • Jan 15, 2012 2:36pm Jan 15, 2012 2:36pm
Still can't help but feel it will be like climbing Everest for this thing to rise significantly. The 200ema, 55ema, 60sma and 100sma of every timeframe from monthly down to 15mins are like a tonne of bricks on this pair. TL's getting steeper and Euro downgrades??? Am I missing something?
Come with me if you want to live....
  • #298,045
  • Jan 15, 2012 2:53pm Jan 15, 2012 2:53pm
Quoting Ill-b-back
Still can't help but feel it will be like climbing Everest for this thing to rise significantly. The 200ema, 55ema, 60sma and 100sma of every timeframe from monthly down to 15mins are like a tonne of bricks on this pair. TL's getting steeper and Euro downgrades??? Am I missing something?


support/demand...depends what tf you're trading.
All systems of divination, like music itself,work through patterns.
  • #298,046
  • Jan 15, 2012 3:05pm Jan 15, 2012 3:05pm
Quoting kaspopsicle
[/b]

support/demand...depends what tf you're trading.
Yeah ok, I guess "significant" has different meanings for different traders with pip targets etc. Personally, I look at every timeframe then drill down. Also, I don't use S/R as much as TL's (they tend to coincide anyway). If
one of my TL's receives a double touch without touching the opposite side of the trendline in between these touches, it is invalidated (by me that is). I feel that is why we have this weekly cluster just above my ascending monthly TL in earlier post despite the world economy being much worse than 3 yrs ago, because once it is touched or crossed again, we are looking at a potentially big drop, not like the GFC pace because we are at a lot of clustered support right now like you say, but a big drop over time anyway. Everything points to the bear in my head I guess.
Come with me if you want to live....
  • #298,047
  • Jan 15, 2012 3:09pm Jan 15, 2012 3:09pm
Quoting Ill-b-back
Yeah ok, I guess "significant" has different meanings for different traders with pip targets etc. Personally, I look at every timeframe then drill down. Also, I don't use S/R as much as TL's (they tend to coincide anyway). If
one of my TL's receives a double touch without touching the opposite side of the trendline in between these touches, it is invalidated (by me that is). I feel that is why we have this weekly cluster just above my ascending monthly TL in earlier post despite the world economy being much worse than 3 yrs ago, because once...
What I mean is the bulls are defending that ascending monthly TL like a bitch because once it goes, it goes. With downgrades
Just announced, not sure why we would see any risk on.
Come with me if you want to live....
  • #298,048
  • Edited 3:40pm Jan 15, 2012 3:20pm | Edited 3:40pm
Quoting Ill-b-back
What I mean is the bulls are defending that ascending monthly TL like a bitch because once it goes, it goes. With downgrades
Just announced, not sure why we would see any risk on.
hello,
about downgrades i would be carefull!
mostly euro crashed heavy in recent sessions when those downgrade were rumored. possible that they are already priced in!
i see EU weekly nearest strongsupport area should be 2450-2550, not so far! same for GU 5070-5130 (5240) should provide hard work for bears to breake straight down.
lets see market reaction, but i wouldn't be surprised to see EU bouncing out of h4 downtrend channel this week!
90% of traders use TA, indicators and prediction
  • #298,049
  • Jan 15, 2012 3:39pm Jan 15, 2012 3:39pm
My broker is not open yet, does anyone have a broker that has opened and where is price on gbp/usd?
Please ask questions and share your experiences with us all!
  • #298,050
  • Jan 15, 2012 3:44pm Jan 15, 2012 3:44pm
Quoting _BBKing_
hello,
about downgrades i would be carefull!
mostly euro crashed heavy in recent sessions when those downgrade were rumored. possible that they are already priced in!
i see EU weekly nearest strongsupport area should be 2450-2550, not so far! same for GU 5070-5130 (5240) should provide hard work for bears to breake straight down.
lets see market reaction, but i wouldn't be surprised to see EU bouncing out of h4 downtrend channel this week!
Yep, I agree there will be some work to be done, like I said we are approaching clustered support, but I think mid 60's won't come again until we have dropped into the 40's.
Come with me if you want to live....
  • #298,051
  • Jan 15, 2012 3:48pm Jan 15, 2012 3:48pm
Quoting bkg102665
My broker is not open yet, does anyone have a broker that has opened and where is price on gbp/usd?


Ye gap down current 1.5280
  • #298,052
  • Jan 15, 2012 3:48pm Jan 15, 2012 3:48pm
Quoting Ill-b-back
Yep, I agree there will be some work to be done, like I said we are approaching clustered support, but I think mid 60's won't come again until we have dropped into the 40's.
I am not a regular in this thread but I will give my two cents worth on your comment. I agree that 48's maybe 43's before we see 65 area again.
Please ask questions and share your experiences with us all!
  • #298,053
  • Jan 15, 2012 3:49pm Jan 15, 2012 3:49pm
Quoting markmc27
Ye gap down current 1.5280
Thanks !
Please ask questions and share your experiences with us all!
  • #298,054
  • Jan 15, 2012 4:00pm Jan 15, 2012 4:00pm
Quoting Ill-b-back
Yep, I agree there will be some work to be done, like I said we are approaching clustered support, but I think mid 60's won't come again until we have dropped into the 40's.

yes it is possible a move below actual main TL.
on the breaking of it, should be good shorting to 1.48 1.47.

time will tell! lets see if this week price goes testing it and if a reaction comes
90% of traders use TA, indicators and prediction
  • #298,055
  • Jan 15, 2012 4:09pm Jan 15, 2012 4:09pm
Quoting _BBKing_
yes it is possible a move below actual main TL.
on the breaking of it, should be good shorting to 1.48 1.47.

time will tell! lets see if this week price goes testing it and if a reaction comes
Feeling ok?
Come with me if you want to live....
  • #298,056
  • Jan 15, 2012 4:12pm Jan 15, 2012 4:12pm
Quoting bkg102665
I am not a regular in this thread but I will give my two cents worth on your comment. I agree that 48's maybe 43's before we see 65 area again.
Do you trade this pair? I am only thinking shorts right now.
Come with me if you want to live....
  • #298,057
  • Jan 15, 2012 4:18pm Jan 15, 2012 4:18pm
Quoting Ill-b-back
Do you trade this pair? I am only thinking shorts right now.
I trade lots of pairs but at this point I am only looking reasons to take this pair short. I believe the risk reward is much better playing shorts at this point, IMHO.
Please ask questions and share your experiences with us all!
  • #298,058
  • Jan 15, 2012 4:24pm Jan 15, 2012 4:24pm
Quoting bkg102665
I trade lots of pairs but at this point I am only looking reasons to take this pair short. I believe the risk reward is much better playing shorts at this point, IMHO.
ok thx dude
Come with me if you want to live....
  • #298,059
  • Jan 15, 2012 4:30pm Jan 15, 2012 4:30pm
Quoting Ill-b-back
Yeah ok, I guess "significant" has different meanings for different traders with pip targets etc. Personally, I look at every timeframe then drill down. Also, I don't use S/R as much as TL's (they tend to coincide anyway). If
one of my TL's receives a double touch without touching the opposite side of the trendline in between these touches, it is invalidated (by me that is). I feel that is why we have this weekly cluster just above my ascending monthly TL in earlier post despite the world economy being much worse than 3 yrs ago, because...
According to the higher tf charts i see little or no differerence in the world economy from 3 yrs ago.
As i trade off the lower tf drilling down from higher tf it makes little difference to me. I take Price at whatever its doing.
However i do see that cable is in the middle of nowhere,as is the whole of the global economy.
My assesment in these circumstances can only be based on techs...as has been since i first started trading 2 yrs ago.
With regard fundermental issues i have always believed that the market movers precede and pre- empt any major move. It's only common sense that they do.They have more power than all of us retailers in sum total.
All ,i believe, we can do in terms of fundermentals is to look to the risk on/risk off correlations in commodities, metals and indicies...and use everything in our toolboxes that we understand. You to your trend lines , me to supply and demand.
All systems of divination, like music itself,work through patterns.
  • #298,060
  • Jan 15, 2012 4:48pm Jan 15, 2012 4:48pm
Quoting kaspopsicle
According to the higher tf charts i see little or no differerence in the world economy from 3 yrs ago.
As i trade off the lower tf drilling down from higher tf it makes little difference to me. I take Price at whatever its doing.
However i do see that cable is in the middle of nowhere,as is the whole of the global economy.
My assesment in these circumstances can only be based on techs...as has been since i first started trading 2 yrs ago.
With regard fundermental issues i have always believed that the market movers precede and pre- empt any...
Yes, each to their own I agree. By 3 yrs ago I was meaning at the lowest price base of the GFC way back when. Not at charts so cannot confirm date etc. it's just that back then banks were in dire trouble, now whole countries are in dire trouble. We have been at this support zone a few times in the last few years, and never got higher than the 50percent retrace. I'm just wondering why should we clear it this time when it seems fear had only increased significantly in that time with the Euro crisis, downgraded and USA downgraded for the first time. Just wouldn't make sense to me yet that's all.
Come with me if you want to live....
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