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Cable Update (GBPUSD)

  • #329,021
  • Nov 3, 2012 9:42am Nov 3, 2012 9:42am
Hey T if you look by the power of probability ,even though we are in consolidation ,
With 100 pip real body on this chart it does go lower first


Quoting tirmizi
thats bad man, sleeping during trading is like water to fish, i think strongly that cable should stop at 6008 max, if not then i am going for a sleep i will look for another buy around 5945/49 and stops are just below 5913
Attached Image (click to enlarge)
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #329,022
  • Nov 3, 2012 10:09am Nov 3, 2012 10:09am
Quoting Bones
Hey T if you look by the power of probability ,even though we are in consolidation ,
With 100 pip real body on this chart it does go lower first
Thats Nice.
forexpillariscipline & patience Trader
  • #329,023
  • Nov 3, 2012 12:56pm Nov 3, 2012 12:56pm
Quoting tirmizi
i dont know if monthly trendline save me or not but i know this for sure that pound$ must need to atleast touch 6135 before breaking 5913,

so this number 6135/40 has a validity of three days or some times four days i have time till wednsday to tap this number 6135/40 min.

before 5913

not likely..one thing i can assure u..cable with a real body bearish 100 pips..and 1.6135..would mean that cable would reverse (piercing formation likely)..would be extremely bullish..that id say we wont see 1.59

in my experience not happening..but it can go lower reject 1.6 then go where u talking..but not back down after..that would be a killer..weekly now is bearish momentum is downside

this week we are going to attack 1.6
  • #329,024
  • Nov 3, 2012 1:12pm Nov 3, 2012 1:12pm
Quoting nAVIN2007
not likely..one thing i can assure u..cable with a real body bearish 100 pips..and 1.6135..would mean that cable would reverse (piercing formation likely)..would be extremely bullish..that id say we wont see 1.59

in my experience not happening..but it can go lower reject 1.6 then go where u talking..but not back down after..that would be a killer..weekly now is bearish momentum is downside

this week we are going to attack 1.6
lol

this is what i am saying i am extremely bullish pound against all other major currencies
Learning Requires Failure
  • #329,025
  • Nov 3, 2012 1:22pm Nov 3, 2012 1:22pm
Quoting Bones
Hey T if you look by the power of probability ,even though we are in consolidation ,
With 100 pip real body on this chart it does go lower first
hi B,

i have borrowed your chart and added another target with your two targets at 5998, in another scenario i have a price level as low as 5940/45, but i seriously doubt that will happen before 6140/50,

i think on sunday evening we might have gap up opening
Attached Image (click to enlarge)
Click to Enlarge Name: target.png Size: 45 KB
Learning Requires Failure
  • #329,026
  • Nov 3, 2012 1:30pm Nov 3, 2012 1:30pm
lol no prob T I do that all the time I like cheeky


Quoting tirmizi
hi B,

i have borrowed your chart and added another target with your two targets at 5998, in another scenario i have a price level as low as 5940/45, but i seriously doubt that will happen before 6140/50,

i think on sunday evening we might have gap up opening
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #329,027
  • Nov 3, 2012 1:42pm Nov 3, 2012 1:42pm
gbp cad ,Bullish ?
Attached Image (click to enlarge)
Click to Enlarge Name: gbp cad w1 3-11-12.png Size: 30 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #329,028
  • Nov 3, 2012 1:54pm Nov 3, 2012 1:54pm
Quoting tirmizi
lol

this is what i am saying i am extremely bullish pound against all other major currencies

what yur take on this?
1.5874..I SEE
Attached Image (click to enlarge)
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  • #329,029
  • Nov 3, 2012 2:21pm Nov 3, 2012 2:21pm
Let's wait until after the election, then the market will be allowed to do what ever it likes.
Come with me if you want to live....
  • #329,030
  • Nov 3, 2012 3:27pm Nov 3, 2012 3:27pm
Quoting nAVIN2007
what yur take on this?
1.5874..I SEE
Looking at that chart of yours, rather than watching price oscillate through your positions as it has been since last week, personally I would book some profit. Thing is, I am not you, so I hope it works out this time round for you!
  • #329,031
  • Nov 3, 2012 3:33pm Nov 3, 2012 3:33pm
Quoting bbakker
Looking at that chart of yours, rather than watching price oscillate through your positions as it has been since last week, personally I would book some profit. Thing is, I am not you, so I hope it works out this time round for you!

same here..this is one aspect im different..i dont protect my positions, when i increase my lot size i probably think differently
  • #329,032
  • Nov 3, 2012 4:11pm Nov 3, 2012 4:11pm
Is this a monthly slam dunk??

I'll feel better if and when these TL's go...
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Come with me if you want to live....
  • #329,033
  • Nov 3, 2012 4:37pm Nov 3, 2012 4:37pm
Weekly is bearish, daily bearish, both red.

Probably see a small retrace before the next move down.
  • #329,034
  • Nov 3, 2012 4:39pm Nov 3, 2012 4:39pm
[quote=nAVIN2007;6159781]what yur take on this?
1.5874..I SEE[/QUOTE

Nice analysis. I agree the momentum is down at least for now.
  • #329,035
  • Nov 3, 2012 8:51pm Nov 3, 2012 8:51pm
where are we going ? up to the downside or down to the upside ?
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not euphoria follower
  • #329,036
  • Nov 3, 2012 10:39pm Nov 3, 2012 10:39pm
Quoting iqyu5an
where are we going ? up to the downside or down to the upside ?

GBPUSD daily Sell Fractal after another failed test at the 2 month TL.. S/T bias for another probe down to the 1.5950~1.5850 support zone..
However, with Euro breaking the 2 months support & taking over the downside lead, we may just pause 1.5950~1.5850 prior to a fast multi-week slide down to the 1.54~1.53 M/T range lows..

GBP D1
Attached Image (click to enlarge)
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Euro D1+H4
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  • #329,037
  • Nov 4, 2012 1:26am Nov 4, 2012 1:26am
Quoting cdndollar
GBPUSD daily Sell Fractal after another failed test at the 2 month TL.. S/T bias for another probe down to the 1.5950~1.5850 support zone..
However, with Euro breaking the 2 months support & taking over the downside lead, we may just pause 1.5950~1.5850 prior to a fast multi-week slide down to the 1.54~1.53 M/T range lows..

GBP D1
Attachment

Euro D1+H4
Attachment
agree
  • #329,038
  • Nov 4, 2012 1:05am Nov 4, 2012 1:05am
I think that the pullback in quotation down to 1.6008 has been the last chance for going long before a rally towards 1.70, which will occur in 6 months time .. Take a look at gold price... You will see that the money started flowing towards risky assets .. GBPUSD will also benefit from that ...

Besides, UK economy started giving positive signals already .. Where US will keep on printing money, UK will not make further monetary base increase, which will support GBPUSD go up ...

Towards the closing of the market on Friday, quotation did move very fast from 1.6008 to 1.6026 ... Lets watch closely on Monday .. Quotation will probably go towards 1.6070 on Monday and we might close the week around 1.6200...
  • #329,039
  • Nov 4, 2012 1:46am Nov 4, 2012 1:46am
Quoting tomspin
dude zulu warned me that following your strategy can lead to financial ruin, you were giving me a lessons calling me a less pro then you and others, your demo book is very impresive I must say, well....
some stick their neck out everyday with real money regardless of score at the end of the session and you bash people and proudly show your demo results.
Fak me sideways,
I like your gain in oct, do it for longer and I will change my mind about you,
I'd like to dedicate this chart to you, missed my TP by 100pips which is one solid session - real...
Zulu's measurement of drawsown is according to pip... I mean it didnt make one sense that my drawdown on my account could be over 100%... Didnt make a bloody sense to me.... But if u look at my myfxbook page you'll see my max drawdown on aggregate trades are at 20%
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #329,040
  • Nov 4, 2012 6:41am Nov 4, 2012 6:41am
Quoting fxtyrant
Zulu's measurement of drawsown is according to pip... I mean it didnt make one sense that my drawdown on my account could be over 100%... Didnt make a bloody sense to me.... But if u look at my myfxbook page you'll see my max drawdown on aggregate trades are at 20%
20% is simply too high and shows you are over exposing yourself. 5% should be your normal drawdown at any given time maybe even 10% at a push. My target is 2-5%. I exceeded this limit twice in the last 12 months and I've learned from it as to why I did this and have rules now to prevent it from happening again!
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