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Cable Update (GBPUSD)

  • #310,841
  • Edited 12:42pm May 1, 2012 12:25pm | Edited 12:42pm
still there ! crazy wants protect 6153 while as usual corrective bear need to break it to proceed . so a tag of war comes up & probable diamond like swing may develop . smaller tf ,so likely no respect to diamond & may try for invalidating it with or without breaks 6153.breaks & bounce can be real crazy run up , not break a classical crazy to ready correction again at some up only .

point: reaction low 6191 & 86 may test again & again with or without breaks 6153 , all in a invalidating diamond . same violent up as down if diamond works. again classic diamond action may takes place ( allowed very smaller one in H1 tf ) without any great down below 6153 , to 6130 also ok for bull next .
fontu
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #310,842
  • May 1, 2012 12:35pm May 1, 2012 12:35pm


This one is better that winning a 1000 pips man...

Quoting TauTrader
My sincere apology.

Good facts to you

Regards
I still need a trading break soon!!! "Loose some to win more" --Baher A.
  • #310,843
  • May 1, 2012 12:39pm May 1, 2012 12:39pm
Quoting nAVIN2007
u are

i suppose once people, me included are in a trade...they simply want it to go there regardless..i suppose in trading it can be a good thing

i still say down though

tony yes 1.6060 is where i have a breakout point so a retest there makes complete sense
hi Nav,

How's life buddy..

Looks like the highest we will get for mid-term outlook is at 6300.. i'm not on cable since i fell in love with fiber.. lol.

i'm heavily short on that pair.

The retracement on cable i think will go as far as 6060 with 6000 as the turning point that will flip bias back to more bearish. imho.

anyway, all the best mate..
  • #310,844
  • May 1, 2012 12:50pm May 1, 2012 12:50pm
Quoting A-speculator
hi Nav,

How's life buddy..

Looks like the highest we will get for mid-term outlook is at 6300.. i'm not on cable since i fell in love with fiber.. lol.

i'm heavily short on that pair.

The retracement on cable i think will go as far as 6060 with 6000 as the turning point that will flip bias back to more bearish. imho.

anyway, all the best mate..

yeah kinda agree..i short here will let go of the short at that area keep long looking for 100 pips north and get out..then go back to day trading..i locked in a 80 pound loss in the meanwhile so i should be ok..
  • #310,845
  • May 1, 2012 12:57pm May 1, 2012 12:57pm
Quoting nAVIN2007
yeah kinda agree..i short here will let go of the short at that area keep long looking for 100 pips north and get out..then go back to day trading..i locked in a 80 pound loss in the meanwhile so i should be ok..
i thought u already TP your position.. if i'm not mistaken, your position should already in green, right?

anyway, circumstances has changed since aussie massive movement to the downside along with other pairs which respected the S&R about the same time..

i think i mentioned before that the strongest resistance for fiber is at about 3280 and strongest resistance on swissy is at about 9060

for cable, i use candy as to indicate how well usd is doing towards the commodity along with aussie and kiwi. at the time of this writing, seems like the USD somehow gaining strength..

i would like somebody who is well verse in the fundi can explain "the why" this is happening but technically i think, it's a no no to long cable anymore.. just my thoughts..
  • #310,846
  • May 1, 2012 1:01pm May 1, 2012 1:01pm
Quoting A-speculator
i thought u already TP your position.. if i'm not mistaken, your position should already in green, right?

anyway, circumstances has changed since aussie massive movement to the downside along with other pairs which respected the S&R about the same time..

i think i mentioned before that the strongest resistance for fiber is at about 3280 and strongest resistance on swissy is at about 9060

for cable, i use candy as to indicate how well usd is doing towards the commodity along with aussie and kiwi. at the time of this writing, seems like the USD...

well i entered a hedge at 1.6220 area..i simply didnt think it go straight to 1.63 without hitting 1.62..damn thing..so i locked in a loss of 80 pounds..lol
  • #310,847
  • May 1, 2012 1:09pm May 1, 2012 1:09pm
Quoting nAVIN2007
well i entered a hedge at 1.6220 area..i simply didnt think it go straight to 1.63 without hitting 1.62..damn thing..so i locked in a loss of 80 pounds..lol
i think it is an impulsive move that the price go towards 6300 without significant retracement. if you look at weekly, at about 6280, you will see stongest level which has been a support turned resistance and back again being resistance turned support for so many times.. naturally, this price will go down..

i'm sorry my chart is just a plain chart, i'm not very well verse operating mac yet (i don't know a program like paint in mac).. but i think you'll understand what i mean.
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  • #310,848
  • May 1, 2012 1:17pm May 1, 2012 1:17pm
Quoting A-speculator
i think it is an impulsive move that the price go towards 6300 without significant retracement. if you look at weekly, at about 6280, you will see stongest level which has been a support turned resistance and back again being resistance turned support for so many times.. naturally, this price will go down..

i'm sorry my chart is just a plain chart, i'm not very well verse operating mac yet (i don't know a program like paint in mac).. but i think you'll understand what i mean.
if we consider pullback by fibo ratio, 6060 is at about 23% only, normally i'll consider 38% as the potential reversal point (if valid) which bring us to about the 5900 area..

perhaps, we might see significant move down in this month.. but this is just my speculation of the price movement.. and the level i'd like to watch the PA reacting towards the said support area..
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  • #310,849
  • May 1, 2012 1:30pm May 1, 2012 1:30pm
Quoting A-speculator
if we consider pullback by fibo ratio, 6060 is at about 23% only, normally i'll consider 38% as the potential reversal point (if valid) which bring us to about the 5900 area..

perhaps, we might see significant move down in this month.. but this is just my speculation of the price movement.. and the level i'd like to watch the PA reacting towards the said support area..
yes i see this is why im in the hedge..its about time the mofo dropped, even if its for a bit..
  • #310,850
  • May 1, 2012 1:43pm May 1, 2012 1:43pm
What to expect with tomorrow's Construction PMI?
Based on the last two weeks does it really matter?
Buy either way...
  • #310,851
  • May 1, 2012 1:50pm May 1, 2012 1:50pm
Quoting nAVIN2007
yes i see this is why im in the hedge..its about time the mofo dropped, even if its for a bit..
yeah, fiber has more clearer picture which tells us that the price has reached the upper TL, the one that holding the price is the lower TL, but based on series of candles, if we have confirmed breakout of the lower TL, i can say that the price still has not invalidate it's bearish view..

my target for the pair, to be honest, is at about the 2800 area, depending on how the PA, i will act accordingly.

i posted this post as an overview since fiber has some relation with cable. Since this pair is not as violent as cable, that is why my position seems quite aggressive..

i think that is all mate, see u later.

all the best to all traders here..

chalozzz..
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  • #310,852
  • May 1, 2012 1:57pm May 1, 2012 1:57pm
Quoting A-speculator
yeah, fiber has more clearer picture which tells us that the price has reached the upper TL, the one that holding the price is the lower TL, but based on series of candles, if we have confirmed breakout of the lower TL, i can say that the price still has not invalidate it's bearish view..

my target for the pair, to be honest, is at about the 2800 area, depending on how the PA, i will act accordingly.

i posted this post as an overview since fiber has some relation with cable. Since this pair is not as violent as cable, that is why my position...


eventually it will break south..monthly is bearish i feel
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  • #310,853
  • May 1, 2012 2:46pm May 1, 2012 2:46pm
The 4 fib cluster (5 fib cluster if you include 38.2% of the minor 4hr swing 6007-6300) @ the previous minor 1hr swing hi zone held again on a re-test and price has rebounded from there. Immediately @/below here as below and immediately above current price as the current near-term 1hr screenshot below. Daily Pivot is @/around 6251 with Daily R1 @/around 6281.

Looking like yesterday's 6300 could becomes a fractal swing hi on the daily t/f dependant how today's daily candle closes.

[ 6195-85 prev minor 4hr/ 1hr sw lo zone
[ 6190-86 prev minor 1hr sw hi zone incl 6189-87= 4 fib cluster ( 50% 6077-6300, 76.4% 6151-6300, and 23.6% of 5805 and 5817-6300)
6175/73 23.6% 5769-6300 / 6173 85.4% 6151-6300
6171 Daily S2 @/around
[ 6164-45 prev 4hr sw hi zone incl 6163 = 61.8% 6077-6300
[ 6164-51 prev 4hr/1hr sw lo zone
6139-31 prev 1hr sw lo zone incl 6135 = 23.6% 5769-6300, and 6132 = Weekly S1 @/around
6130 76.4% 6077-6300
6122 Daily S3 @/around
6118-11 3 fib cluster incl 6112 = Monthly Pivot @/around, and 6111= 85.4% 6077-6300
6098 38.2% 5769-6300
6090-87-80 prev minor Daily/4hr/1hr sw lo zone
6080-75 prev 4hr/1hr sw lo zone
[ 6058-48 3 fib cluster
[ 6055-24 prev minor weekly/Daily sw hi zone (non immed)
[ 6045-41-36 prev 4hr/1hr sw lo zone incl 6035/34 = 50% 5769-6300/38.2% 5601-6300
6019-07 prev 4hr/1hr sw lo zone
6002 61.8% 5817-6300 & Weekly S2 @/around

4hr/Daily remain in general opa uptrends with 1hr somewhat mixed off the 6300 hi now.

G/L
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ex member
  • #310,854
  • May 1, 2012 2:47pm May 1, 2012 2:47pm
Quoting nAVIN2007


eventually it will break south..monthly is bearish i feel
I'm Getting nervous bout GBPNZD.... you said you are bearish on that pair?? down to where might i ask?? where is the possible target if you shorted GBPNZD??
We live in a finite world with infinite possibilities.
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  • #310,855
  • May 1, 2012 2:56pm May 1, 2012 2:56pm
Quoting bguguen
I'm Getting nervous bout GBPNZD.... you said you are bearish on that pair?? down to where might i ask?? where is the possible target if you shorted GBPNZD??

1.96 or aggressive the chart 1.95
it could be a bear flag..stop needs to be above the descending trendline to give absolute chances

cable on steriods still
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  • #310,856
  • May 1, 2012 3:08pm May 1, 2012 3:08pm
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  • #310,857
  • May 1, 2012 3:16pm May 1, 2012 3:16pm
Quoting Bones
well tony the dailly trendline has gone..so we not seeing what we want to see..lol and at least the dailly has made a new low, assuming it closes like this..

i think we are good..unless tomorrow news brings a shock is written in the charts
  • #310,858
  • May 1, 2012 3:17pm May 1, 2012 3:17pm
Quoting TauTrader


May the odds forever be in your favour

Regards
Working on that
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  • #310,859
  • May 1, 2012 3:21pm May 1, 2012 3:21pm
Quoting Bones
Fib. retrace and extention, all in play..GL!

Also we have 50/200sma pinch poss. for a solid reaction..
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  • #310,860
  • May 1, 2012 3:44pm May 1, 2012 3:44pm
Quoting nAVIN2007
well tony the dailly trendline has gone..so we not seeing what we want to see..lol and at least the dailly has made a new low, assuming it closes like this..

i think we are good..unless tomorrow news brings a shock is written in the charts
nAVIN what's your opinion?
With we see 1.6160 and 1.6086?
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