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Cable Update (GBPUSD)

  • #322,721
  • Aug 25, 2012 3:57am Aug 25, 2012 3:57am
Quoting XTrade
Here is my cable chart simple,
Simple chart says buy on test of bottom channel.....
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #322,722
  • Edited 4:12am Aug 25, 2012 4:00am | Edited 4:12am
http://www.forexfactory.com/showthre...80#post5958080

1636 KEY resistance.

Disappointed with aussie, loving cable.

@ Faller - nice to know someone else realizes fiat currencies are basically useless. X-cept for trading

Otherwise they are ALL going to hell in a handbasket!
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #322,723
  • Aug 25, 2012 6:51am Aug 25, 2012 6:51am
Holding shorts from Friday looking 5750/60 area and see what happens then (assuming it gets there). Be slow on Monday with UK holiday (maybe).
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  • #322,724
  • Edited 7:22pm Aug 25, 2012 7:05pm | Edited 7:22pm
@TauTrader... just 4 u.........

KG
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  • #322,725
  • Aug 25, 2012 9:11pm Aug 25, 2012 9:11pm
One of my best weeks trading GBPUSD. My bias for GBPUSD was on the bullish side. And i was expecting GBPUSD to finally break above the 1.5780-1.5800 pivot zone by this week. I woke up at 5am on monday morning to trade the monday opening! Why my bullish view? See daily chart below. What do we see on the daily chart?

http://i45.tinypic.com/dxk9qc.png

1. There is a bullish trendline.
2. Price touches the trendline 3 times.
3. There are 3 higher lows.

The price action is telling us that the buyers are stronger than the sellers. Each time the price drops to a lower level, there are strong demand. And the buyers buy up and push up the price.

http://i46.tinypic.com/35bw9yt.png

Here are my trading results for GBPUSD. This is one key to successful trading. Always keep your losses small or at breakeven, always let your profits run. Trading is a mind game.
  • #322,726
  • Aug 26, 2012 5:05am Aug 26, 2012 5:05am
Quoting XTrade
http://www.forexfactory.com/showthre...80#post5958080

1636 KEY resistance.

Disappointed with aussie, loving cable.

@ Faller - nice to know someone else realizes fiat currencies are basically useless. X-cept for trading

Otherwise they are ALL going to hell in a handbasket!
Actually almost everything is useless nowadays if you want to put it that way.....
i guess the laws of demand and supply is keeping useless things worthy of something....
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #322,727
  • Aug 26, 2012 7:10am Aug 26, 2012 7:10am
GU = Buy at 1.5800, Target: 1.5935, Stop: 1.5765
EU = Buy at 1.2465, Target: 1.2585, Stop: 1.2430
  • #322,728
  • Aug 26, 2012 8:31am Aug 26, 2012 8:31am
Quoting PoundTrader
navin i want out, trading don't excite me anymore, it was all good back in 2005 but i must move on to bigger and better things, b.t.w. i can see 1.5865 bas on price action
Well, this was his last post and he sounds quite serious.
When the Bond selling starts, he'll probably pop in with a call
Sell 2.0000....
Come with me if you want to live....
  • #322,729
  • Aug 26, 2012 10:12am Aug 26, 2012 10:12am
Quoting Kang_Gun
@TauTrader... just 4 u.........

KG
Thank you for the charts, KG

Appreciated

Regards
  • #322,730
  • Aug 26, 2012 10:30am Aug 26, 2012 10:30am
23.6% of the 5456-5809 at the current 4hr pullback/Friday's lo as Friday's Daily candle prints bearishly - a bearish follow thru on Thursday's inverted hammer daily candle @ the 61.8% 6300-5267.

An orderly descent off 5809 on 1hr as each time an ascending 1hr trend line breeched to the downside it, and the previous swing lo (previous support) then acted as resistance on a retest from the underside -resulting in more downside.

Is this a real break out of the recent 5774-5391 daily range/congestion ? Will the buyers come back in ? Will we see more downside/a retest of the top of that range ?

1hr and daily below.

G/L
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ex member
  • #322,731
  • Aug 26, 2012 10:33am Aug 26, 2012 10:33am
My strategy is to be as unbiased as possible and wait for the market to dictate direction.
I think forming strong bull or bear before open is often produce losers because we inter a trade with particular biased and get burn.
If it reaches anywhere 59 and up I will be planning my massive shorts.

I looked upon all my losing trades and realized that over 80% were hasty entry points before a significant signal in particular direction.
That was an eye opener.
My moto now is to be as Zen as possible.Let the market dictate.
In trading, you have to be defensive and aggressive at the same time
  • #322,732
  • Aug 26, 2012 11:00am Aug 26, 2012 11:00am
Quoting TauTrader
Sir -I can only improve....Then I do suggest that you also look into Renko charts. Run one alongside your normal chart and compare for a while. I am liking these more and more. They do cut out a lot of "noise".

Here is a basic example if one would apply the same indicator on a normal 4hr chart, vs a 20 pip Renko.

See the difference?
are you divergence trader?
  • #322,733
  • Aug 26, 2012 11:33am Aug 26, 2012 11:33am
Quoting roseman129
are you divergence trader?
I do look at divergence, but just as another tool. Do not trade divergence exclusively.

Regards
  • #322,734
  • Aug 26, 2012 2:02pm Aug 26, 2012 2:02pm
Quoting fontu
possible Waves playing , last leg up for the Down.
fontu
With breaks 2 possible limits for up but still 2 ones there for . smaller moves in lower time frames , it may seems all over & possible weekly bull may takes place or just wave b up before next down continue. anyway what thought pullback towards 5763 , possible 5792 or say 5702 now ok to fire up 5744 though next real limit .wrote before after the daily down move to ready the weekly up ( even below limit or breaks also though > favourable failure bull then ) , at whatever situation, able continue up retest the existing top before next decision up more or fall more .
Lets see .
fontu
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #322,735
  • Aug 26, 2012 5:18pm Aug 26, 2012 5:18pm
One simple question... why bullish GU?; why most people thinks is bullish? any fundamental sense for that or just cause de candles....? traders have two other choices with cable: JYP and CHF and both so much risky than USD.

1) I don't see QE3 until september.
2) I see the DJI below 10000 in the next trend.
3) Nobody trust in british finantial institutions...

So, again, why bullish with cable?

waiting @5820 short ----> target @5700

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  • #322,736
  • Aug 26, 2012 9:12pm Aug 26, 2012 9:12pm
Quoting garvo
One simple question... why bullish GU?; why most people thinks is bullish? any fundamental sense for that or just cause de candles....? traders have two other choices with cable: JYP and CHF and both so much risky than USD.

1) I don't see QE3 until september.
2) I see the DJI below 10000 in the next trend.
3) Nobody trust in british finantial institutions...

So, again, why bullish with cable?

waiting @5820 short ----> target @5700

Attachment
bullish trends overall, daily in particular.

Sell off that was expected on friday to retrace but a resumption in uptrend expected.

Me personally no real strong feeling either way. medium term bearish though.
Money never sleeps...
  • #322,737
  • Aug 26, 2012 9:19pm Aug 26, 2012 9:19pm
1.5701???

hmmmmmmm

interesting things.

just saying.

faller.
I don't trust any move - when you have profit...take it.
  • #322,738
  • Aug 26, 2012 9:25pm Aug 26, 2012 9:25pm
1.575 is the lowest i see based on my charts, anything further would depend on news
Money never sleeps...
  • #322,739
  • Aug 26, 2012 9:31pm Aug 26, 2012 9:31pm
not sure where my comment came from -

I watch a lot of things on the charts and different charts of different instruments....we all have our own views on the market.....I do not want to influence anyone here......based on what I see - if price keeps moving in the current direction (the past 3 days - which is down) 1.5701 will be the first POTENTIAL target.....not sure where you see 1.5750......post a chart and enlighten me!

Thanks...

Faller.
I don't trust any move - when you have profit...take it.
  • #322,740
  • Aug 26, 2012 9:32pm Aug 26, 2012 9:32pm
if we break 1.5794 drop zone in affect.
I don't trust any move - when you have profit...take it.
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