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Cable Update (GBPUSD)

  • #314,661
  • May 25, 2012 4:41am May 25, 2012 4:41am




Quoting Nachiket
bought gbp/jpy for a change today.
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #314,662
  • May 25, 2012 4:42am May 25, 2012 4:42am
  •  eggs
  • | Joined Nov 2011 | Status: Everybodys A Central Banker Here... | 819 Posts
EXTREMELY rare PA on Cable today....ODD really
  • #314,663
  • May 25, 2012 4:43am May 25, 2012 4:43am
5250

Quoting eggs
While I share the same views with everyone here as to the bearish nature of the GU. I do think however levels as low as 54 & 52 are a bit of a stretch on a Friday when many institutional traders will be kicked back with their mind on their money & their money on their minds.

After the week we've had...its just too much. I'm looking for choppy price moves up and down in a consolidation pattern. Next week could begin a grinding retrace. A weak retrace no doubt. THEN we should see another strong leg down.

Good luck to everyone
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #314,664
  • May 25, 2012 4:43am May 25, 2012 4:43am
Quoting eggs
EXTREMELY rare PA on Cable today....ODD really
why do you think this and on what time frames ? I see nothing rare about.

G/L
ex member
  • #314,665
  • May 25, 2012 4:45am May 25, 2012 4:45am
Quoting nAVIN2007
is she telling us cable is going to fly?
Perhaps, but I sense it had some serious engine trouble at about 6300 feet
If it makes you feel any better bro, I aint too far behind you
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Come with me if you want to live....
  • #314,666
  • May 25, 2012 4:47am May 25, 2012 4:47am
Quoting eggs
A. Traders are lacking conviction

OR

B. Low liquidity

OR

C. BOTH A & B
Neither cousin, just pulled in for a tune up before takeoff
Come with me if you want to live....
  • #314,667
  • May 25, 2012 4:49am May 25, 2012 4:49am
  •  eggs
  • | Joined Nov 2011 | Status: Everybodys A Central Banker Here... | 819 Posts
Quoting bbmac
why do you think this and on what time frames ? I see nothing rare about.

G/L
ALL TF except DAILY & WEEKLY really.

Usually cable has a wavy flow to it. Today's action is all chatter & noise within SMALL ranges.

ODD looking sequences of candles lining up together. Dueling Swords & the like. Doji's EVERYWHERE.

that's what I mean by that.
  • #314,668
  • May 25, 2012 4:51am May 25, 2012 4:51am
  •  eggs
  • | Joined Nov 2011 | Status: Everybodys A Central Banker Here... | 819 Posts
Quoting Ill-b-back
Neither cousin, just pulled in for a tune up before takeoff

I expected better from you IBB. I'll have to say I'm a little disappointed.
  • #314,669
  • May 25, 2012 4:55am May 25, 2012 4:55am
  •  eggs
  • | Joined Nov 2011 | Status: Everybodys A Central Banker Here... | 819 Posts
Quoting bbmac
why do you think this and on what time frames ? I see nothing rare about.

G/L
"Usually" not ALWAYS but "Usually" London is very swift & deliberate with the move of the day. The other two sessions "generally" just end up trading within the range that is set.

Not to say there's not a shake out or three but today's just looks different from a price action pattern formation standpoint I guess.
  • #314,670
  • May 25, 2012 4:57am May 25, 2012 4:57am
Quoting Ill-b-back
Neither cousin, just pulled in for a tune up before takeoff
also true that, recently, fridays are not so much movers.
i left price 12 hours ago @5660 now still 5660 after a 30pips range.
maybe something during first hours of NY session then stop till monday.
90% of traders use TA, indicators and prediction
  • #314,671
  • May 25, 2012 4:58am May 25, 2012 4:58am
Quoting eggs
I expected better from you IBB. I'll have to say I'm a little disappointed.
I'm strangely flattered by that comment
I think it's choppy because we are near multi timeframe support pivot of 5625 (my pivots anyway) and it is finding it hard to go lower but is not ready to go higher either, so is stuck.
Movie night tonight, so got to go.
Take care brother
Come with me if you want to live....
  • #314,672
  • May 25, 2012 4:59am May 25, 2012 4:59am
  •  eggs
  • | Joined Nov 2011 | Status: Everybodys A Central Banker Here... | 819 Posts
Quoting _BBKing_
also true that, recently, fridays are not so much movers.
i left price 12 hours ago @5660 now still 5660 after a 30pips range.
maybe something during first hours of NY session then stop till monday.
I think the NY'ers are already kikkin it in the Hamptons for the weekend

If this is London NY will be worse. But you could be right BB who knows
  • #314,673
  • May 25, 2012 5:00am May 25, 2012 5:00am
It's just a sign of market indecision about next real direction-nothing rare about it - manifesting in pa and as a result ranging conditions to 1hr.

Current near-term 1hr is below. [not shown are the calculated pivots or fibs of the main daily/4hr moves from and incl 6300 and 6122 highs to the current trend lo of 5437.

G/L

Quoting eggs
ALL TF except DAILY & WEEKLY really.

Usually cable has a wavy flow to it. Today's action is all chatter & noise within SMALL ranges.

ODD looking sequences of candles lining up together. Dueling Swords & the like. Doji's EVERYWHERE.

that's what I mean by that.
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ex member
  • #314,674
  • May 25, 2012 5:01am May 25, 2012 5:01am
  •  eggs
  • | Joined Nov 2011 | Status: Everybodys A Central Banker Here... | 819 Posts
Quoting Ill-b-back
I'm strangely flattered by that comment
I think it's choppy because we are near multi timeframe support pivot of 5625 (my pivots anyway) and it is finding it hard to go lower but is not ready to go higher either, so is stuck.
Movie night tonight, so got to go.
Take care brother
Thanks U too man.
  • #314,675
  • May 25, 2012 5:07am May 25, 2012 5:07am
Quoting eggs
I think the NY'ers are already kikkin it in the Hamptons for the weekend

If this is London NY will be worse. But you could be right BB who knows
Its scorching hot in London today for once... All the traders are down the pub
  • #314,676
  • May 25, 2012 5:11am May 25, 2012 5:11am
Quoting Ill-b-back
Perhaps, but I sense it had some serious engine trouble at about 6300 feet
If it makes you feel any better bro, I aint too far behind you

im seriouslt day trading after this..damn this this trading method
  • #314,677
  • May 25, 2012 5:11am May 25, 2012 5:11am
Quoting PipLand
Its scorching hot in London today for once... All the traders are down the pub

nice to see u allen
  • #314,678
  • May 25, 2012 5:11am May 25, 2012 5:11am
decided a 1/3 long position here with a stop below recent lows and target far near 5880.

will later decide if hold, add, close, etc following price behavior
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90% of traders use TA, indicators and prediction
  • #314,679
  • May 25, 2012 5:13am May 25, 2012 5:13am
will help myself also using this small m5 chart with vwap
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90% of traders use TA, indicators and prediction
  • #314,680
  • May 25, 2012 5:14am May 25, 2012 5:14am
Quoting eggs
I think the NY'ers are already kikkin it in the Hamptons for the weekend

If this is London NY will be worse. But you could be right BB who knows
yes i agree.
let's see what will happen. both up n down are possible. i'm for a bit up with a 51% probability
90% of traders use TA, indicators and prediction
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