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Cable Update (GBPUSD)

  • #311,821
  • May 7, 2012 4:06am May 7, 2012 4:06am
Quoting Faller
Good question - now to analyze it.....which is the hard part. First off -I do not find much comfort these days in comparing or trying to find a correlation between pairs - very tough to do....just look at Eur/Usd and Gbp/Usd - eur been tanking while gbp has been climbing.....sometimes they say gbp tanks with eur as Euro problems affect gbp and sometimes they say gbp not following Euro because gbp is seen as a safe haven.....so like I said tough to make correlations.

When I look at the charts I see the need for a retrace back up to 1.6160 before...
It depends actually. Sometimes I see A-speculator compared well between certain pairs. Well u know A-speculator loves to compare pairs correlation. The problems occured when the big boys, aka BOE, Fed, and influencing group joined in the party. Technicals and fundamentals can be learn by everyone. Only length of time differentiate one. Don't you think it would be fun to messed around with the expectations of minority player towards their technicals and fundamentals outcome/calculation?

By the way, everytime I heard people said; 95% fails... I feel sad/down. Why? Because we are confirming ourselve about failure and that is not motivating. Not healthy kind of environment.

Sorry to drag you into this
I trade to live
  • #311,822
  • May 7, 2012 4:16am May 7, 2012 4:16am
Quoting UbuFamily
It depends actually. Sometimes I see A-speculator compared well between certain pairs. Well u know A-speculator loves to compare pairs correlation. The problems occured when the big boys, aka BOE, Fed, and influencing group joined in the party. Technicals and fundamentals can be learn by everyone. Only length of time differentiate one. Don't you think it would be fun to messed around with the expectations of minority player towards their technicals and fundamentals outcome/calculation?

By the way, everytime I heard people said; 95% fails... I...
I really do not agree with A-speculator although I have never voiced it - regarding his comparrison and pair correlation etc.....just my opinion. Not trying to start a fight here....if it works for him great! Just don't really see what he sees....and that is what makes us all different!

As for dragging me in here....you can't.....I am off to bed again - my biasis is short.....I am not going to try and fight this up move.....will assess later when I get up - but I have no need to trade anymore today.....one trade earlier and now I watch.

Take it easy my friend........dragging my arse to bed......

Faller.
I don't trust any move - when you have profit...take it.
  • #311,823
  • May 7, 2012 4:24am May 7, 2012 4:24am
Quoting pippaholic
Thank you for those words of wisdom faller. I also agree trying to compare those 2 is quite hard. Your completely right about the bank holiday to push to 1.6200 would be pretty unlikely ill wait till price is around 1.6160 and do as you said see what the charts are telling me.

fyi - my price levels are for futures - your forex spot price will be slightly off what I look at......

Cheers,

Faller
I don't trust any move - when you have profit...take it.
  • #311,824
  • May 7, 2012 4:46am May 7, 2012 4:46am
Quoting UbuFamily
It depends actually. Sometimes I see A-speculator compared well between certain pairs. Well u know A-speculator loves to compare pairs correlation. The problems occured when the big boys, aka BOE, Fed, and influencing group joined in the party. Technicals and fundamentals can be learn by everyone. Only length of time differentiate one. Don't you think it would be fun to messed around with the expectations of minority player towards their technicals and fundamentals outcome/calculation?

By the way, everytime I heard people said; 95% fails... I...
About 95% fails you said, i heard similiar thing as i posted here, this is hard bussiness, few will be choosen to be a winner..... so let's talk about how to be included in 5% remaining.....Trade safe mate...good luck....To be honest i am still in mentioned 95%, but i am still here for trade....try to improve trade by trade, day by day.....
  • #311,825
  • May 7, 2012 4:56am May 7, 2012 4:56am
anyone believe GBP might go up to 1.617 before going down again to 1.610?
  • #311,826
  • May 7, 2012 5:05am May 7, 2012 5:05am
Quoting rsg10z
anyone believe GBP might go up to 1.617 before going down again to 1.610?
At the moment cable facing strong resistance at 1.6160 (50% fib), if it is break, will climb to 1.6170 as 61.8% fib....considering the market, i am not sure if it will be higher than 61.8% fib, but if am wrong, cable will revisit 100% fib at 1.6204.....
  • #311,827
  • May 7, 2012 5:09am May 7, 2012 5:09am
Quoting rsg10z
anyone believe GBP might go up to 1.617 before going down again to 1.610?
Yep I do

http://s9.postimage.org/3ldxhylf3/cabel.gif
image host
swing it!
  • #311,828
  • May 7, 2012 5:22am May 7, 2012 5:22am
In my opinion USD is too risky to trade rite now and I would be trading the crosses. I opened a short on EUR/GBP at 0.8104 which I closed at 0.8040 today and will reenter a position in EUR/GBP if it does not break 0.8100 on the upside before NY opens
  • #311,829
  • May 7, 2012 5:34am May 7, 2012 5:34am
good morning,
posting a bit of h1 chart

in my opinion price is building levels and testing orders on bottoms and highs looking to create a cushion and relax after strong up-move coming from 1.58.

1.60 and 1.63 are the 2 possible areas of top n bottom range.

since unable to clear 1.61 price will probably look to find new supply in higher area. supply showing stronger in recent moves (or demand weaker, or taking profits, who knows?!)

1.62 weekly pivot. 1.6230-40 is price of upward channel b/o. 1.63 actual top.

hope it helps.

good luck and goodbye
Attached Image (click to enlarge)
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90% of traders use TA, indicators and prediction
  • #311,830
  • May 7, 2012 5:35am May 7, 2012 5:35am
Quoting Nachiket
In my opinion USD is too risky to trade rite now and I would be trading the crosses. I opened a short on EUR/GBP at 0.8104 which I closed at 0.8040 today and will reenter a position in EUR/GBP if it does not break 0.8100 on the upside before NY opens
yes eur gbp is a good pair.
must know its behaviour and speed.
good luck
90% of traders use TA, indicators and prediction
  • #311,831
  • May 7, 2012 7:14am May 7, 2012 7:14am
Good day to you,

Back.

See I was stopped out by 3 pips before price continued higher - so only 15 banked.

So it goes...

No further trade until a clear signal is given.

Rather boring at the moment...

Regards
  • #311,832
  • May 7, 2012 7:19am May 7, 2012 7:19am
Cables resilient I'll give her that much. 20 pip scalp long off the 1hr 540 linear MA. My first scalp for the year
Goodnight guys, damn tricky here.
Come with me if you want to live....
  • #311,833
  • May 7, 2012 7:21am May 7, 2012 7:21am
Quoting Ill-b-back
Cables resilient I'll give her that much. 20 pip scalp long off the 1hr 540 linear MA. My first scalp for the year
Goodnight guys, damn tricky here.
Well done.

Have a good one.

Regards
  • #311,834
  • May 7, 2012 7:25am May 7, 2012 7:25am
Quoting TauTrader
Well done.

Have a good one.

Regards
Tank you TT and you too
Im looking at a new template which I'll try to post later when at desk, but looking at the daily, looks damn bullish longer term towards 68 area. It is a brand new template I am playing with so not sure but pattern is there.
Nighty night.
Come with me if you want to live....
  • #311,835
  • May 7, 2012 7:32am May 7, 2012 7:32am
Cable trying really hard to close below Thursday low @ 1.61579 - with Thursday close just above @ 1.61748.

Traded back into Thurdays range...

If Thursday's low can't manage to keep price up, Friday's low @ 1.61392 is the gate keeper at the bottom for now.

Regards
  • #311,836
  • May 7, 2012 7:37am May 7, 2012 7:37am
I am long from 1.6157
  • #311,837
  • May 7, 2012 7:48am May 7, 2012 7:48am
Back to bartering?

Inserted Video
  • #311,838
  • May 7, 2012 8:09am May 7, 2012 8:09am
Quoting Ill-b-back
Cables resilient I'll give her that much. 20 pip scalp long off the 1hr 540 linear MA. My first scalp for the year
Goodnight guys, damn tricky here.
Aha......i am sure you will do this more frequently when you got green.....i will see more from you.....congratulation......the green is the name of the game...short or long, scalping or intraday.....up to you....
  • #311,839
  • May 7, 2012 8:12am May 7, 2012 8:12am
Hi to everybody! I'm a newee here, but not in the market and wuold like to join your conversations. So as far as I see, presidential in France provoked a large gap in eur and a small one in cable. This gap in cable was closed and the gbpusd has tested the downchannels' resistance at 6170 apprxtly (1H TF). Right now it is moving from the res down to supp. I think today we may break the 61's and go further IMHO.
  • #311,840
  • May 7, 2012 8:59am May 7, 2012 8:59am
Quoting cfxx
I am long from 1.6157
Is dead? Only 3 pips in profit
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