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Cable Update (GBPUSD)

  • #308,941
  • Apr 19, 2012 3:33am Apr 19, 2012 3:33am
if price can retrace back to the confluence of fibo at the 23.6, it will get my interest to buy at that level.. otherwise, i'll stay sideline..
Attached Image (click to enlarge)
Click to Enlarge Name: cable.gif Size: 45 KB
  • #308,942
  • Apr 19, 2012 3:35am Apr 19, 2012 3:35am
no fixed rule in fx ....


Quoting Nachiket
your order board is good. but the end result does not change. cable is tired after 3 months of rally from 1.5225 to 1.6075 and needs to come back to 50% retracement.
not euphoria follower
  • #308,943
  • Apr 19, 2012 3:36am Apr 19, 2012 3:36am
first it was the cable then the euro.
  • #308,944
  • Apr 19, 2012 3:37am Apr 19, 2012 3:37am
Quoting iqyu5an
no fixed rule in fx ....

lets see i see it going back to 1.57 in 2 weeks time.
  • #308,945
  • Apr 19, 2012 3:39am Apr 19, 2012 3:39am
why only 1.57 why not 1.5 ?

Quoting Nachiket
lets see i see it going back to 1.57 in 2 weeks time.
not euphoria follower
  • #308,946
  • Apr 19, 2012 3:40am Apr 19, 2012 3:40am
DX bear flag has broken down .
  • #308,947
  • Apr 19, 2012 3:41am Apr 19, 2012 3:41am
Quoting Nachiket
your order board is good. but the end result does not change. cable is tired after 3 months of rally from 1.5225 to 1.6075 and needs to come back to 50% retracement.
Firstly, Just to be clear - it's not an order board it is a list of potential resistance and rbs (resistance becomes support) factors above current price - that is all. Secondly - if that is your analysis so be it - I will stick to trading what I see not what I think - the market doesn't care what we think whether or not your analysis scenario proves correct or not.

G/L
ex member
  • #308,948
  • Apr 19, 2012 3:44am Apr 19, 2012 3:44am
we are at a very important place on the weekly..if it breaks above the high of today..theres a good probability of 500 pips north (at least)

i figure we are at a neckline, actually broken but needs a close above and continuation tomorrow above today high assuming we close around this level 1.6060 area..so price wont break this area to easy..
  • #308,949
  • Apr 19, 2012 3:45am Apr 19, 2012 3:45am
my PO earlier on fiber just got triggered before the move up.. oh what a sweet day..

for all the bulls, stay strong and give the bears some chance eh.. at least i can get myself in.. lol.

especially to Navin.. good work and great analysis mate..

later guys..
Attached Image (click to enlarge)
Click to Enlarge Name: fiber.gif Size: 51 KB
  • #308,950
  • Apr 19, 2012 3:48am Apr 19, 2012 3:48am
Quoting A-speculator
my PO earlier on fiber just got triggered before the move up.. oh what a sweet day..

for all the bulls, stay strong and give the bears some chance eh.. at least i can get myself in.. lol.

especially to Navin.. good work and great analysis mate..

later guys..
  • #308,951
  • Apr 19, 2012 4:12am Apr 19, 2012 4:12am
Price has breeched to the upside 3 x daily/weekly descending trend lines in recent days, and after 2 x HL's has made a H (not fractal yet) above the last LH and has broken out of the top of the recent 6061- 5803 range on that t/f. This t/f is technically in a general opa (overall price action-peak/valley analysis) uptrend. Price has also broken above the 200 week sma.

The Daily screenshot below shows the previous daily and weekly/daily swing highs to 6165 that lie above the 1st of which contains the current daily hi of 6076.

Some consolidation off the current 6076 hi at the moment ?

G/L
Attached Image (click to enlarge)
Click to Enlarge Name: z.jpg Size: 169 KB
ex member
  • #308,952
  • Apr 19, 2012 4:19am Apr 19, 2012 4:19am
be lucky
Attached Image(s) (click to enlarge)
Click to Enlarge Name: cable12.jpg Size: 73 KB
Click to Enlarge Name: cable11.jpg Size: 79 KB
Click to Enlarge Name: cable10.jpg Size: 85 KB
  • #308,953
  • Apr 19, 2012 4:56am Apr 19, 2012 4:56am
59% of the 20 day atr coverered so far today by price, and now 106% of the 20 week atr so far this week and only 45% of 20 month atr so far this month......pullback from 6076 found some demand at the 50% of the current daily lo-hi...cable sure seems to like it's 50% fibs. It trades between that current daily hi and the current pullback lo off that hi described.

G/L
ex member
  • #308,954
  • Edited 5:36am Apr 19, 2012 5:17am | Edited 5:36am
Retracement to 1.5900 still possible
If US manages some good news

Im in such a shitty streak of bad trade decision but ill normally get through it without any harm done
besides i can hold on to a position for years since my broker doesnt have swap charges...
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #308,955
  • Apr 19, 2012 5:41am Apr 19, 2012 5:41am
who is ur broker..
i h ave my short open from 1.6060 targeting 1.6025
  • #308,956
  • Apr 19, 2012 5:53am Apr 19, 2012 5:53am
Quoting bguguen
Retracement to 1.5900 still possible
If US manages some good news

Im in such a shitty streak of bad trade decision but ill normally get through it without any harm done
besides i can hold on to a position for years since my broker doesnt have swap charges...

what price did u enter?
  • #308,957
  • Apr 19, 2012 5:57am Apr 19, 2012 5:57am
Quoting nAVIN2007
what price did u enter?
1.5940, 0.05 lots though so no worry on draw down... thing is it worked well right up to that stupid claimant count data from yesterday which of course was a shocker to many.... specially me as a fundy trader its one of those unexpected things...
ah well.... least i got the liquidity and no swap charges to hold it...
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #308,958
  • Apr 19, 2012 6:02am Apr 19, 2012 6:02am
Quoting bguguen
1.5940, 0.05 lots though so no worry on draw down... thing is it worked well right up to that stupid claimant count data from yesterday which of course was a shocker to many.... specially me as a fundy trader its one of those unexpected things...
ah well.... least i got the liquidity and no swap charges to hold it...

that price is nothing..i totally expect to see it again..can u explain what the hell that figure actually means and perhaps why cable shoot up with the fundy news..

i have no idea but would love to here yur take on it
  • #308,959
  • Apr 19, 2012 6:06am Apr 19, 2012 6:06am
Quoting nAVIN2007
that price is nothing..i totally expect to see it again..can u explain what the hell that figure actually means and perhaps why cable shoot up with the fundy news..

i have no idea but would love to here yur take on it
Well the News is.... that claimant count droped to +3.6k and that unemployment in UK down by 0.1%...
problem is my suspicions on the increase in jobs are temporary in UK... possibly a manipulated figure...
With the Queens Diamond Jubilee and London 2012 Olympics...
The reason behind the increase in jobs i believe has something to do with the prospect of labor force having to work on sundays during queen jubilee and olympics... so for me i just dont see the jobs being that rosy.....
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #308,960
  • Apr 19, 2012 6:17am Apr 19, 2012 6:17am
g/u for me :

buy limit 1.6000 sl 1.5925 tp 1.6200
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