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Cable Update (GBPUSD)

  • #327,041
  • Oct 16, 2012 9:23pm Oct 16, 2012 9:23pm
Quoting Tsar
1,6181 first... as Important Point Higher

Posted #326957 Oct 16, 2012 8:46am
  • #327,042
  • Oct 16, 2012 11:20pm Oct 16, 2012 11:20pm
50% retracement of the move from 1.6309 to 1.5971 comes in at 1.6139. yesterday's top was 1.6131. euro rallied overnight. still it was unable to give a higher top. I fear if before london opens we don't see 1.6139 a huge downmove is coming taking it to 1.5905 and then to 1.5783. now from where did I get these levels. 61.8% and 50% fibonacci retracements of the downmove from 1.6309 to 1.5255
  • #327,043
  • Oct 16, 2012 11:21pm Oct 16, 2012 11:21pm
Quoting Nachiket
50% retracement of the move from 1.6309 to 1.5971 comes in at 1.6139. yesterday's top was 1.6131. euro rallied overnight. still it was unable to give a higher top. I fear if before london opens we don't see 1.6139 a huge downmove is coming taking it to 1.5905 and then to 1.5783. now from where did I get these levels. 61.8% and 50% fibonacci retracements of the downmove from 1.6309 to 1.5255
1.6096 is first support for today. then comes 1.6075
  • #327,044
  • Oct 16, 2012 11:22pm Oct 16, 2012 11:22pm
Quoting Nachiket
50% retracement of the move from 1.6309 to 1.5971 comes in at 1.6139. yesterday's top was 1.6131. euro rallied overnight. still it was unable to give a higher top. I fear if before london opens we don't see 1.6139 a huge downmove is coming taking it to 1.5905 and then to 1.5783. now from where did I get these levels. 61.8% and 50% fibonacci retracements of the downmove from 1.6309 to 1.5255
So? Should I jump in for heavy short as I love to see 1.5783 so much
  • #327,045
  • Oct 16, 2012 11:33pm Oct 16, 2012 11:33pm
Quoting ForexRatVN
So? Should I jump in for heavy short as I love to see 1.5783 so much
look lets wait for 1.6096 for this strategy to work. if this goes enter short
  • #327,046
  • Oct 16, 2012 11:38pm Oct 16, 2012 11:38pm
Quoting Nachiket
look lets wait for 1.6096 for this strategy to work. if this goes enter short
OK wait & see then. Thanks
  • #327,047
  • Oct 16, 2012 11:57pm Oct 16, 2012 11:57pm
October 17th orders/flows: Cable, solid offers near 1.6130 from US corporates and real money funds
  • #327,048
  • Oct 17, 2012 12:05am Oct 17, 2012 12:05am
Quoting ForexRatVN
OK wait & see then. Thanks
We are so close to the top TL on H4 that we should probably visit 1.614X, if that TL holds then we could be in for a nice drop and the 1.609X area is a great shout for long term short as this will see the recent upward tl on h1 broken. But it will be 4th touch on tl on h4 and if that breaks who knows how high it will go. Will be keeping a close eye.
  • #327,049
  • Oct 17, 2012 12:25am Oct 17, 2012 12:25am
looks like order books getting filled.
  • #327,050
  • Oct 17, 2012 12:31am Oct 17, 2012 12:31am
Quoting gavalar
We are so close to the top TL on H4 that we should probably visit 1.614X, if that TL holds then we could be in for a nice drop and the 1.609X area is a great shout for long term short as this will see the recent upward tl on h1 broken. But it will be 4th touch on tl on h4 and if that breaks who knows how high it will go. Will be keeping a close eye.
It seems to be getting a bit top heavy. I will be shorting if this thing gets to 61.60 within the next 24 hours.
  • #327,051
  • Oct 17, 2012 12:45am Oct 17, 2012 12:45am
Quoting 2+2=4ex
It seems to be getting a bit top heavy. I will be shorting if this thing gets to 61.60 within the next 24 hours.
Can you show me a chart? Wanna learn how to plot the Fibonacci pattern.
If you could it will be great! Thanks!
  • #327,052
  • Oct 17, 2012 1:17am Oct 17, 2012 1:17am
Quoting 2+2=4ex
It seems to be getting a bit top heavy. I will be shorting if this thing gets to 61.60 within the next 24 hours.
indeed looking heavy... thats why i shouted couple hours ago 1.6130 seem like the top... i have a trendline there which maybe keeping us below....Equities futures today seem to be signaling a bit of risk off today....
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #327,053
  • Oct 17, 2012 1:23am Oct 17, 2012 1:23am
Good Morning my FX brothers...

Hoping to see a significant drop today once, and if, we get to around 1.614x/5x...
  • #327,054
  • Oct 17, 2012 1:43am Oct 17, 2012 1:43am
Quoting Freshpips
Good Morning my FX brothers...

Hoping to see a significant drop today once, and if, we get to around 1.614x/5x...
morning buddy..we have traveled right to the the top..weekly has only done like 111 pips..incredible
  • #327,055
  • Oct 17, 2012 1:47am Oct 17, 2012 1:47am
Quoting nAVIN2007
morning buddy..we have traveled right to the the top..weekly has only done like 111 pips..incredible
morning guys...think we are almost at top. I have 460 as line
  • #327,056
  • Oct 17, 2012 1:47am Oct 17, 2012 1:47am
Quoting nAVIN2007
morning buddy..we have traveled right to the the top..weekly has only done like 111 pips..incredible
still think its bearish?? i hate seeing these weird bullish PA as of late...
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #327,057
  • Oct 17, 2012 1:47am Oct 17, 2012 1:47am
Quoting nAVIN2007
morning buddy..we have traveled right to the the top..weekly has only done like 111 pips..incredible

I know right, slow and steady...

You currently holding shorts??
  • #327,058
  • Oct 17, 2012 1:54am Oct 17, 2012 1:54am
Quoting Freshpips
I know right, slow and steady...

You currently holding shorts??

yes but not liking it..at all..still as long as the weekly holds its nothing to worry abt

problem we have is market is expecting positive figures for gbp...so the figures really need to suck..lol
  • #327,059
  • Oct 17, 2012 1:59am Oct 17, 2012 1:59am
lets wait for PA before any action.
forexpillariscipline & patience Trader
  • #327,060
  • Oct 17, 2012 2:03am Oct 17, 2012 2:03am
Quoting paulyjah
lets wait for PA before any action.
wise words
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