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Cable Update (GBPUSD)

  • #299,301
  • Jan 27, 2012 2:49am Jan 27, 2012 2:49am
gu taken short scalping but will wait better at & above 5714 to 20 and eu waiting below 3134 or 20 & up , otherwise below 3077 , pending there .
fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #299,302
  • Jan 27, 2012 2:49am Jan 27, 2012 2:49am
Quoting PoundTrader
ill-b-back you will bounce back your a good trader, i too took a big lost early in the week, if my t/p get hit at 1.5737 i will only be up 42 pips for the week because of the lost i took early in the week
Thanks brother, a FUBAR week this week for sure. Well bro, you are doing better than me, i need to reach 58 or there abouts to breakeven this week. Since dropping down to my micro account, i have been trading just everyday regardless of conditions. I hope it doesnt become a habit . looking forward to next week for sure, should be fun
Come with me if you want to live....
  • #299,303
  • Jan 27, 2012 2:51am Jan 27, 2012 2:51am
G/M

Yesterday's 5733 Hi in cable came at base of the previous Weekly x2/Daily x3/4hr X3 swing hi zone and has crteated a seperate 4hr minor swing hi/1hr swing hi...described as under:


[ 5720-33 prev minor 4hr/1hr sw hi zone
[ 5729-43-79 prev Wkly/Dly/4hr sw hi zone incl 5730 = Daily R1 @/around, 5759 = Monthly R1 @/around, 5762 = 2 x fibs, and 5772 = Weekly R2 @/around, and 5774 = Daily R2 @/around.


Price pulled back from that 5733 to 5660...the area described above remains a barrier to upside progress and I wouldn't be surprised to see more supply in the zone if tested.


G/L
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ex member
  • #299,304
  • Jan 27, 2012 2:59am Jan 27, 2012 2:59am
Quoting bbmac
G/M

Yesterday's 5733 Hi in cable came at base of the previous Weekly x2/Daily x3/4hr X3 swing hi zone and has crteated a seperate 4hr minor swing hi/1hr swing hi...described as under:


[ 5720-33 prev minor 4hr/1hr sw hi zone
[ 5729-43-79 prev Wkly/Dly/4hr sw hi zone incl 5730 = Daily R1 @/around, 5759 = Monthly R1 @/around, 5762 = 2 x fibs, and 5772 = Weekly R2 @/around, and 5774 = Daily R2 @/around.


Price pulled back from that 5733 to 5660...the area described above remains a barrier to upside progress and I wouldn't be surprised to see...
90% of traders use TA, indicators and prediction
  • #299,305
  • Jan 27, 2012 3:35am Jan 27, 2012 3:35am
Seems theres alot of sellers at the 61.8 fib.

Scalped a fair few pips this morning on eur/usd, gbp/usd and gbp/jpy, tight stops and even tighter tp's, 10-15 pips each
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  • #299,306
  • Jan 27, 2012 3:59am Jan 27, 2012 3:59am
im moving stop at be in my long.
i think here is a danger area, evey pip could be collecting supply from here and 5770.

lets see if goes to 5758, could require whole london morning to reach it.
90% of traders use TA, indicators and prediction
  • #299,307
  • Jan 27, 2012 4:00am Jan 27, 2012 4:00am
Bullish so far today off a current daily lo of 5660-the zone described above leading up to 5779 being the immediate upside barrier.

Above here:
5787 61.8% 6130-5243
5809 2 x fibs
5815 Daily R3 @/around
5842-63-87 prev Dly/4hr sw hi zone incl 5842 = 50% 6454-5234, and 5887 = 76.4% 6091-5234
5909-30 prev 4hr sw hi zone incl 5916 = 76.4% 6130-5234, and 5924 = 50% 6617-5234
5946 76.4% 6165-5234
5966/68/70 85.4% 6091-5234/Weekly R3/Mthly R2 @/around
5986/89 2 x fibs incl 50% 6746-5234

G/L
ex member
  • #299,308
  • Jan 27, 2012 4:24am Jan 27, 2012 4:24am
closer to home and price struggling at the moment at 76.4% 5733-5660 - a previous 1hr swing hi zone. Remaining overally bullish intraday and overall so far though.

G/L
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  • #299,309
  • Jan 27, 2012 4:27am Jan 27, 2012 4:27am
Good confluence wih 61.8 retrace/200EMA and TL after closing above the 100SMA
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Come with me if you want to live....
  • #299,310
  • Jan 27, 2012 7:59am Jan 27, 2012 7:59am
can anyone tell me why the f**k this pair sticking around 1.5700 levels since yesterday. It's neither going up nor down... ....i am holding short since yesterday morning at 1.5652 level and it's not looking in any good mood to come closer to my trade level... i am nw getting fed up of this movement...
  • #299,311
  • Jan 27, 2012 8:05am Jan 27, 2012 8:05am
Quoting Forexgain
can anyone tell me why the f**k this pair sticking around 1.5700 levels since yesterday. It's neither going up nor down... ....i am holding short since yesterday morning at 1.5652 level and it's not looking in any good mood to come closer to my trade level... i am nw getting fed up of this movement...
Run for cover... This B*tch is going up men... 5770! here we come
  • #299,312
  • Jan 27, 2012 8:19am Jan 27, 2012 8:19am
Quoting Forexgain
can anyone tell me why the f**k this pair sticking around 1.5700 levels since yesterday. It's neither going up nor down... ....i am holding short since yesterday morning at 1.5652 level and it's not looking in any good mood to come closer to my trade level... i am nw getting fed up of this movement...
im thinking about trading exotic pairs if this keep up, only problem with trading exotic is that on 100k trade the pip value can be $1.00 and $5.00 a pip and thats on a standard 100k lot
  • #299,313
  • Jan 27, 2012 8:20am Jan 27, 2012 8:20am
Quoting Forexgain
can anyone tell me why the f**k this pair sticking around 1.5700 levels since yesterday. It's neither going up nor down... ....i am holding short since yesterday morning at 1.5652 level and it's not looking in any good mood to come closer to my trade level... i am nw getting fed up of this movement...
this PA was expected with the resistance area we hit. I avoid GU like the plague in situations like this. starting out, you need to take time studying the PA of each instrument to get a feel for it's rhythm. takes time.


Quoting Fudomyo
I'm fence sitting until this area is better sorted. Not completely convinced of the run until we take out the PB resistance areas on EU GU. A lot can happen here...Dow is at an interesting point.
1H LTL still intact. under that, shorts look much better. let's see what happens after the opening bell.

Quoting Fudomyo
this has been a great week for me, especially on the Aussie pairs.
AU getting pummeled, has been much more fun to trade this week.
  • #299,314
  • Jan 27, 2012 8:28am Jan 27, 2012 8:28am
Quoting busifx
Run for cover... This B*tch is going up men... 5770! here we come
you were asked why this pair is not moving much.......

what kind of response is yours? can you tell us why this "bitch" is going up to 1.5770? Can you post a chart....can you post your trade entries as I DO.....what you posted means nothing and only leads new people down the wrong path. Why dont you post your entries and exits like I do and post a chart as to why you think what you think. I know it takes time....but it would add to your credit here.

faller.
I don't trust any move - when you have profit...take it.
  • #299,315
  • Jan 27, 2012 8:44am Jan 27, 2012 8:44am
Quoting Fudomyo
this PA was expected with the resistance area we hit. I avoid GU like the plague in situations like this. starting out, you need to take time studying the PA of each instrument to get a feel for it's rhythm. takes time.
Thanks a ton for your kind suggestion...

Quoting Faller
you were asked why this pair is not moving much.......

what kind of response is yours? can you tell us why this "bitch" is going up to 1.5770? Can you post a chart....can you post your trade entries as I DO.....what you posted means nothing and only leads new people down the wrong path. Why dont you post your entries and exits like I do and post a chart as to why you think what you think. I know it takes time....but it would add to your credit here.

faller.
I really appreciate what u said...
  • #299,316
  • Jan 27, 2012 8:59am Jan 27, 2012 8:59am
Updated chart from what I posted last night......

Is that a double top I see in Cable......last night I took a small short for profit - from end of day yesterday and closed it close to the lows of last night.

I still feel this chart is valid - we have moved up very steadily with no real pull back yet........we will see how the day goes.

I am flat at the moment.....traded the US Dollar this morning during GDP announcement and grabbed a small piece of Crude Oil also....

I am posting the updated chart as well as my trading platform to show my results for the day......I think I am going to just sit back for the rest of the day.....it has been a good week.....many times I have given back a good percentage of my weekly profits on a Friday........

Good trading to all....

Faller.
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I don't trust any move - when you have profit...take it.
  • #299,317
  • Jan 27, 2012 9:12am Jan 27, 2012 9:12am
Quoting Faller
Updated chart from what I posted last night......

Is that a double top I see in Cable......last night I took a small short for profit - from end of day yesterday and closed it close to the lows of last night.

I still feel this chart is valid - we have moved up very steadily with no real pull back yet........we will see how the day goes.

I am flat at the moment.....traded the US Dollar this morning during GDP announcement and grabbed a small piece of Crude Oil also....

I am posting the updated chart as well as my trading platform to show my results...

Good call on the double top Faller......price pulled back 50 pips.....nice.
I don't trust any move - when you have profit...take it.
  • #299,318
  • Jan 27, 2012 9:25am Jan 27, 2012 9:25am
Quoting Faller
Good call on the double top Faller......price pulled back 50 pips.....nice.

well done!
looks like price everytime goes up fills short orders lined in 57 area.
im waiting to see same opposite reaction on below. interested in 5660-40 range.

lets see
90% of traders use TA, indicators and prediction
  • #299,319
  • Jan 27, 2012 9:25am Jan 27, 2012 9:25am
Dear Faller

Decrease in rate of change in Open Interest in futures shall no to be in focus as much. This vary from market to market and depends on you time frame. It tends to change every 3 months before the delivery (rollover). The marginal sum of accumulation is important here. Cable tends to drop OI rapidly on ranging prices. Decline in OI is the one to pay attention to.
In this case either leveling or declining OI is the sign for trend reversal.

Regards

Quoting Ill-b-back
I think if you had mentioned that OI was leveling over the last 2 weeks, your message would have been clearer. Your original post indicated that OI had declined only, no more info given. Your bullish sentiment while supported technically, seemed to me, to be contradictory as a result.
  • #299,320
  • Jan 27, 2012 9:27am Jan 27, 2012 9:27am
And now I relised that I am talking to somebody else. Apology
Quoting gfs
Dear Faller

Decrease in rate of change in Open Interest in futures shall no to be in focus as much. This vary from market to market and depends on you time frame. It tends to change every 3 months before the delivery (rollover). The marginal sum of accumulation is important here. Cable tends to drop OI rapidly on ranging prices. Decline in OI is the one to pay attention to.
In this case either leveling or declining OI is the sign for trend reversal.

Regards
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