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Cable Update (GBPUSD)

  • #331,381
  • Dec 1, 2012 10:37am Dec 1, 2012 10:37am
W/e review

Friday's 74pip range was 112% of the 66 pip 20 day atr, with the weekly range of 100 being 54% of the 184pip 20 week atr. November closed with a 344 pip range which is 60% of the 20 month atr

The monthly chart remains in a range/wedge pattern and awaits a b/o either way..November's monthly candle closed with a bearish body and no fractal swing created by it on this t/f

The weekly chart remains fairly rangy with a recent fractal L as of last week's low and this week's candle closing with a very slightly bearish body but more doji-esq as a candle than anything and no fractal swings created by it's close - on this t/f.

A HH after a HL on the daily t/f now although the HH not a fractal swing yet. Friday's daily candle body bearishly engulfed Thursday's. This t/f is now more rangy=bullish re bearish in respect of overall price action-previous price swing hi/lo analysis.

Doubtless a lot of traders being unproductive or worse with these diminishing pip ranges on this pairing. It's a case of being on the lower t/f's or the much higher t/f's and avoiding those middle ones at the moment I guess. Good Luck for forthcoming week.
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ex member
  • #331,382
  • Dec 1, 2012 5:34pm Dec 1, 2012 5:34pm
Can anyone explain to me why the pip ranges on the weekly and daily have decreased so much over the last couple of years and continue to go down on the cable?
  • #331,383
  • Dec 1, 2012 6:12pm Dec 1, 2012 6:12pm
Quoting alex1976
Can anyone explain to me why the pip ranges on the weekly and daily have decreased so much over the last couple of years and continue to go down on the cable?
My own take on it:

Fundamentally, the big crisis bear is being resisted by Benny's raging Bull, (they are still butting heads-so price going no where so to speak).


Technically, we are compressing on the monthly TF with a series of higher lows and lower highs since 2007.
ie: no real trend.

Note however, that the last swing high made a couple of months ago, is the first Higher swing high on the monthly TF (by about 8 pips or so lol...) since the start of the GFC.

So let's hope trading conditions improve soon
Come with me if you want to live....
  • #331,384
  • Dec 1, 2012 8:56pm Dec 1, 2012 8:56pm
Quoting Ill-b-back
My own take on it:

Fundamentally, the big crisis bear is being resisted by Benny's raging Bull, (they are still butting heads-so price going no where so to speak).


Technically, we are compressing on the monthly TF with a series of higher lows and lower highs since 2007.
ie: no real trend.

Note however, that the last swing high made a couple of months ago, is the first Higher swing high on the monthly TF (by about 8 pips or so lol...) since the start of the GFC.

So let's hope trading conditions improve soon


That makes sense, this bro!
  • #331,385
  • Dec 2, 2012 3:14am Dec 2, 2012 3:14am
hi, everybody
I am out of the market now.
I would like to see Сable at the level of 1,5960-1,5940 for opening long next week
there are retracement signs down at the current moment
if the price will stop at the level 1,6040 on 1H, it will be a signal on sale (for me) with target 1,5960-1,5940
nice weekend to all
  • #331,386
  • Dec 2, 2012 4:25am Dec 2, 2012 4:25am
Great buy opportunity at 1.5914, based solely on the technicals. Historical support/resistance pivot combined with swing 61.8% fib retracement should provide a good chance to have a high r/r ratio.
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  • #331,387
  • Dec 2, 2012 5:14am Dec 2, 2012 5:14am
Quoting Kanzler
Great buy opportunity at 1.5914, based solely on the technicals. Historical support/resistance pivot combined with swing 61.8% fib retracement should provide a good chance to have a high r/r ratio.
certainly it is possible. If the market will find a support somewhere between 1,5960-1,5940, shadows can reach 1,5914
  • #331,388
  • Dec 2, 2012 5:38am Dec 2, 2012 5:38am
this way ?


http://www.forexfactory.com/attachme...4&d=1353124768
Quoting PskovFX
hi, everybody
I am out of the market now.
I would like to see Сable at the level of 1,5960-1,5940 for opening long next week
there are retracement signs down at the current moment
if the price will stop at the level 1,6040 on 1H, it will be a signal on sale (for me) with target 1,5960-1,5940
nice weekend to all
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Click to Enlarge Name: pvjj963d.gif Size: 25 KB
not euphoria follower
  • #331,389
  • Dec 2, 2012 7:22am Dec 2, 2012 7:22am
A Retrace to 1.598+/- looks like all but a guarantee early next week.

After that, things change and it is definitely time to start looking bullish Med Term - 1.6178 target -
  • #331,390
  • Dec 2, 2012 7:37am Dec 2, 2012 7:37am
[quote=iqyu5an;6253296]this way ?
very interesting thread I will read
I meant such scenario as on the picture
by the way, what kind of technique of trading (analysis) you use? how it is called?
I will try to look for the description in my sources
As some tools and terms of participants of the forum aren't familiar to me
Attached Image
  • #331,391
  • Dec 2, 2012 2:23pm Dec 2, 2012 2:23pm
whose ready to play ball?
  • #331,392
  • Dec 2, 2012 2:27pm Dec 2, 2012 2:27pm
Quoting PskovFX
very interesting thread I will read
I meant such scenario as on the picture
by the way, what kind of technique of trading (analysis) you use? how it is called?
I will try to look for the description in my sources
As some tools and terms of participants of the forum aren't familiar to me
He or she is using Gartley (harmonic) patterns, linear regression channels, fibonacci levels and then he placed boxes around waves from swing high to low. I don't think there's a specific name for that set of elements though.
  • #331,393
  • Dec 2, 2012 3:03pm Dec 2, 2012 3:03pm
Watching for a Retest of 59 breakout last week
Come with me if you want to live....
  • #331,394
  • Dec 2, 2012 4:00pm Dec 2, 2012 4:00pm
what is the "extracted posts" under the "threads started" ???
are them deleted posts from somewhere?

sorry.. i'm just asking because i need to quantify the stupidity of a member
90% of traders use TA, indicators and prediction
  • #331,395
  • Dec 2, 2012 4:25pm Dec 2, 2012 4:25pm
Quoting Ill-b-back
Watching for a Retest of 59 breakout last week

Hey you changed you're profile pic
Loosening is not an option
  • #331,396
  • Dec 2, 2012 4:54pm Dec 2, 2012 4:54pm
Quoting _BBKing_
what is the "extracted posts" under the "threads started" ???
are them deleted posts from somewhere?

sorry.. i'm just asking because i need to quantify the stupidity of a member
Yes I believe they are posts removed by moderators.
I have a few in there, you're not looking at one of mine are you??
Come with me if you want to live....
  • #331,397
  • Dec 2, 2012 4:56pm Dec 2, 2012 4:56pm
Quoting Vilkas
Hey you changed you're profile pic
I got bored. Since I have very little hair, I have to do something
Come with me if you want to live....
  • #331,398
  • Dec 2, 2012 6:10pm Dec 2, 2012 6:10pm
Quoting Kanzler
He or she is using Gartley (harmonic) patterns, linear regression channels, fibonacci levels and then he placed boxes around waves from swing high to low. I don't think there's a specific name for that set of elements though.
such tools as linear regression channels & fibonacci levels
I know
Thanks! I will try to study elements unfamiliar to me
but what give for the analysis these boxes around waves?
I don't think that I will use it in practice, but for the general development it will be useful
  • #331,399
  • Dec 2, 2012 6:33pm Dec 2, 2012 6:33pm
Quoting PskovFX
such tools as linear regression channels & fibonacci levels
I know
Thanks! I will try to study elements unfamiliar to me
but what give for the analysis these boxes around waves?
I don't think that I will use it in practice, but for the general development it will be useful
I'm not sure of the purpose of the boxes except that maybe it helps highlighting s/r....personally I limit my own analysis to very barebones elements so I don't use half of what he has on his chart.
  • #331,400
  • Dec 2, 2012 6:39pm Dec 2, 2012 6:39pm
Quoting Ill-b-back
Yes I believe they are posts removed by moderators.
I have a few in there, you're not looking at one of mine are you??
ah no... was something in my profile, don't worry! lol
btw, tks!
90% of traders use TA, indicators and prediction
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