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Cable Update (GBPUSD)

  • #305,721
  • Apr 1, 2012 5:32pm Apr 1, 2012 5:32pm
Quoting Faller
watching how other pairs are moving right now and trying to see how it will affect -

I do have my own support and resistance lines and right now price is in a no mans land in between them for me......depending on how this hour candle closes will be an indicator as to where I feel price may move to -

Bias is to the short side - but I am flat.

1.6005 needs to hold....

Faller
Yep, I'll b waiting for a little dipper. Might see where we are for Frankie and look for poss little short.
Come with me if you want to live....
  • #305,722
  • Apr 1, 2012 5:58pm Apr 1, 2012 5:58pm
Quoting Ill-b-back
Yep, I'll b waiting for a little dipper. Might see where we are for Frankie and look for poss little short.

FYI - took a short scalp - and closed - results posted.

Good Night....see you around London time.....


Faller.
Attached Image (click to enlarge)
Click to Enlarge Name: Sunday Night Scalp.png Size: 106 KB
I don't trust any move - when you have profit...take it.
  • #305,723
  • Apr 1, 2012 6:53pm Apr 1, 2012 6:53pm
Quoting Faller
FYI - took a short scalp - and closed - results posted.

Good Night....see you around London time.....


Faller.
Well done Faller, easy money
Come with me if you want to live....
  • #305,724
  • Apr 1, 2012 11:57pm Apr 1, 2012 11:57pm
Quoting Faller
FYI - took a short scalp - and closed - results posted.

Good Night....see you around London time.....


Faller.
Woo Hoo, crazy PA bro. I would say you got out too early, I'd say you got out JUUUST in time
Come with me if you want to live....
  • #305,725
  • Apr 2, 2012 12:05am Apr 2, 2012 12:05am
there's a lot of other pairs that worth trading atm.. and i don't think cable is one of them.. i think best to do atm is to identify other pairs that worth trading, select the best setup and come out with a trading plan..

i don't know if anyone still insist on trading cable..

yes you can pick the top/bottom on cable but due to the whipsaws, I don't think it's worth it. just my personal thoughts tho..

g/l guys. see u all later..
  • #305,726
  • Apr 2, 2012 12:36am Apr 2, 2012 12:36am
Quoting A-speculator
there's a lot of other pairs that worth trading atm.. and i don't think cable is one of them.. i think best to do atm is to identify other pairs that worth trading, select the best setup and come out with a trading plan..

i don't know if anyone still insist on trading cable..

yes you can pick the top/bottom on cable but due to the whipsaws, I don't think it's worth it. just my personal thoughts tho..

g/l guys. see u all later..
I got to agree with this, if I wasn't already in a trade, I certainly wouldn't be in one today, but that's just my outlook.
Come with me if you want to live....
  • #305,727
  • Apr 2, 2012 12:42am Apr 2, 2012 12:42am
Hello and it's Monday morning here. Manufacturing PMI this morning and I am increasingly using FF resources to check back on previous figures - very useful. I don't know if you have studied these news releases but they have to be very skewed to divert the price much from its original trajectory, at least after the first hour following.
Gone to a better place
  • #305,728
  • Apr 2, 2012 12:43am Apr 2, 2012 12:43am
On the upside will look for break of 1.6036 and then 1.6050. if both are acheieved will go to 1.6100-1.6150 and then final target 1.6287 as per my study.

If failure then will test 1.5932-1.5913-1.5760.
  • #305,729
  • Apr 2, 2012 12:46am Apr 2, 2012 12:46am
Quoting Ill-b-back
I got to agree with this, if I wasn't already in a trade, I certainly wouldn't be in one today, but that's just my outlook.
yeah.. my PO just got triggered in swissy trading against the 0.9000 support with small stop loss level.. wanted to get in fiber also but i have doubt so i stay sidelined for the time being..

well, cable range atm is confusing or maybe it's going for consolidation.. one might short at the about the 6030 level, trading against the last resistance level with stops just above the fractal level, at about 6045 perhaps.. but i can see that there's more potential trading other pairs than cable atm.. so why stick on cable?

are you still hedging mate?
  • #305,730
  • Apr 2, 2012 12:53am Apr 2, 2012 12:53am
Quoting A-speculator
yeah.. my PO just got triggered in swissy trading against the 0.9000 support with small stop loss level.. wanted to get in fiber also but i have doubt so i stay sidelined for the time being..

well, cable range atm is confusing or maybe it's going for consolidation.. one might short at the about the 6030 level, trading against the last resistance level with stops just above the fractal level, at about 6045 perhaps.. but i can see that there's more potential trading other pairs than cable atm.. so why stick on cable?

are you still hedging mate?...
Still hedged from last week, cables the only pair I trade seriously.
Come with me if you want to live....
  • #305,731
  • Apr 2, 2012 1:08am Apr 2, 2012 1:08am
Good morning everyone...

Just got up from my slumber - it is 4AM EST time here-

Side lines right now - will post when I have a more clear picture.

Faller.
I don't trust any move - when you have profit...take it.
  • #305,732
  • Apr 2, 2012 1:14am Apr 2, 2012 1:14am
G/M,

Some upside follow thru on Friday's daily bullish/last week's weekly bullish candles after a pullback at the open.

Above here:

6042 Current Daily Hi
6048 Daily R1 @/around
6075-92 prev Daily sw hi zone incl 6048= Daily R2 @/around, and 6087= 61.8% 6617-5234
6097 Weekly R1 @/around
6103-15-30 prev Daily sw hi zone
6048 Daily R1 @/around
6136-65 prev Wkly/Daily sw hi zone incl 6137- Daily R3 @/around, and 6163= 76.4% 6454-5234/6163 Monthly R1 @/around
6167 61.8% 6746-5234
6184 Weekly R2 @/around
6240-80 prev minor Daily sw lo zone (non immed) incl 6275= 85.4% 6454-5234
6289 76.4% 6617-5234
6317 Monthly R2 @/around
6360-70 descending Weekly t/line coming thru on present Daily candle
6388 76.4% 6746-5234
6413 85.4% 6617-5234
6419-53 prev Daily sw hi zone incl 6420=Weekly R3 @/around
6524 85.4% 6746-5234
6550-73 prev Daily sw hi zone
[ 6575-85 descending monthly trend line coming thru on present daily candle
[ 6580-6617 prev Wkly/Daily sw hi zone

G/L
ex member
  • #305,733
  • Apr 2, 2012 1:51am Apr 2, 2012 1:51am
Quoting bbmac
G/M,

Some upside follow thru on Friday's daily bullish/last week's weekly bullish candles after a pullback at the open.

Above here:

6042 Current Daily Hi
6048 Daily R1 @/around
6075-92 prev Daily sw hi zone incl 6048= Daily R2 @/around, and 6087= 61.8% 6617-5234
6097 Weekly R1 @/around
6103-15-30 prev Daily sw hi zone
6048 Daily R1 @/around
6136-65 prev Wkly/Daily sw hi zone incl 6137- Daily R3 @/around, and 6163= 76.4% 6454-5234/6163 Monthly R1 @/around
6167 61.8% 6746-5234
6184 Weekly R2 @/around
6240-80 prev minor Daily sw...
and what are ur targets on the downside?
  • #305,734
  • Apr 2, 2012 2:01am Apr 2, 2012 2:01am
Hi,

Please don't misunderstand - the above analysis does not represent targets - they are potential resistance factors to the upside..please also understand that in posting these (or indeed potential support factors to the downside) I am not saying that each or all with cause resistance - they are merely there - that is fact - what will happen at those only time will tell if price tests them and we can all make a judgement as to whether any of them are a good place to short at ?

As for potential support factors to the downside, because price is moving up the fibs are being re-;lotted with each new high so it is an evolving picture. Currently on 1hr it looks as below but please be aware this pic does not include some longer term fibs up from and including 5601 and other swing points above that or the calculated pivots.

So, near-term 1hr to the downside is as follows:

G/L

Quoting Nachiket
and what are ur targets on the downside?
Attached Image
ex member
  • #305,735
  • Apr 2, 2012 2:01am Apr 2, 2012 2:01am
I don't know if there is much of a case for any "significant" downside today from what I can see right now.
Come with me if you want to live....
  • #305,736
  • Apr 2, 2012 2:07am Apr 2, 2012 2:07am
Quoting Ill-b-back
I don't know if there is much of a case for any "significant" downside today from what I can see right now.

be careful
I don't trust any move - when you have profit...take it.
  • #305,737
  • Apr 2, 2012 2:13am Apr 2, 2012 2:13am
The daily chart below shows the near-term areas I am watching re potential supply on that t/f, the swing to 6165 also being a previous weekly swing hi, but yes so far 1hr 4hr and dailty remain in uptrends until PA begins to tell us otherwise.

G/L

Quoting Ill-b-back
I don't know if there is much of a case for any "significant" downside today from what I can see right now.
Attached Image (click to enlarge)
Click to Enlarge Name: z.jpg Size: 93 KB
ex member
  • #305,738
  • Apr 2, 2012 2:18am Apr 2, 2012 2:18am
Quoting bbmac
The daily chart below shows the near-term areas I am watching re potential supply on that t/f, the swing to 6165 also being a previous weekly swing hi, but yes so far 1hr 4hr and dailty remain in uptrends until PA begins to tell us otherwise.

G/L
Come with me if you want to live....
  • #305,739
  • Apr 2, 2012 2:19am Apr 2, 2012 2:19am
Quoting Faller
be careful
Always bro. No new trades today
Come with me if you want to live....
  • #305,740
  • Apr 2, 2012 2:49am Apr 2, 2012 2:49am
Quoting Ill-b-back
Always bro. No new trades today

check your PM
I don't trust any move - when you have profit...take it.
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