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Cable Update (GBPUSD)

  • #332,761
  • Dec 23, 2012 8:25am Dec 23, 2012 8:25am
I'm looking at 1.6120 for an Entry Long. I'll state my reasons for that. Starting with Monthly, this month still has a week to close despite the holidays we have during the week. The last 3 monthly candles finds it hard to close above 1.6160. This month has moved from a low of 1.6009 to a high of 1.6305 & currently at the Fib 50% retracement. We have a weekly pin bar which needs a confirmation before it can be traded. Should next week trade & close below the weekly pin then that is your confirmation to exit long & go short.

H4, D1 & W1 are all in an Uptrend, So i will wait for a confirmation of trend reversal before take any short position. 1.6168 is very strong resistance, maybe now support. As for next week, I change my bias from Bullish to NEUTRAL.

GL & Wish everyone a Merry Christmas
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Numbers NEVER Lie
  • #332,762
  • Dec 23, 2012 9:26am Dec 23, 2012 9:26am
Quoting A-speculator
so, there are signs of GU break the hi yeah? show me the signs mate..
not today, in a week may be
  • #332,763
  • Dec 23, 2012 12:40pm Dec 23, 2012 12:40pm
Quoting Zircon
Happy Christmas to all Christians brothers.
Yep, just going with the flow

Bear hunting season means killing the bears bro.
Come with me if you want to live....
  • #332,764
  • Edited 2:53pm Dec 23, 2012 2:43pm | Edited 2:53pm
Quoting Ill-b-back
Yep, just going with the flow

Bear hunting season means killing the bears bro.
yeah, what i mean is we try our best to find the best possible position to get with the bearish wave..

been shorting myself on the aussie and kiwi since i said that the pairs going to make a u-turn.. just got small lot on the cable,fiber and swissy.

i think trading the commodity currency has less volatility on the countertrend and quite consistent in direction than the fiber and cable and i think eventually fiber and cable will follow suit. we can have very large downside target for both pairs i think (mid-term).. hopefully we can get it one at a time.. i think the pairs will have some retracement back up once in a while but better stick with the stronger trend imho.

might be a bearish year for 2013 i reckon.. let's see on how the candle progress. you have been better at your trading i see, & i'm impressed with your trading, hopefully you can manage your emotions and become better at your entry..

all the best mate & enjoy your christmas
  • #332,765
  • Dec 23, 2012 2:49pm Dec 23, 2012 2:49pm
Quoting PskovFX
not today, in a week may be
hmmm... i don't think so mate, small retracement maybe but breakout of 6300.. i'm not so sure..
  • #332,766
  • Dec 23, 2012 2:56pm Dec 23, 2012 2:56pm
EG seems already at its max imho at about 8150-60.. if we got a move downwards, perhaps fiber will be more volatile than cable driven by EG downmove..
  • #332,767
  • Dec 23, 2012 3:29pm Dec 23, 2012 3:29pm
Quoting A-speculator
yeah, what i mean is we try our best to find the best possible position to get with the bearish wave..

been shorting myself on the aussie and kiwi since i said that the pairs going to make a u-turn.. just got small lot on the cable,fiber and swissy.

i think trading the commodity currency has less volatility on the countertrend and quite consistent in direction than the fiber and cable and i think eventually fiber and cable will follow suit. we can have very large downside target for both pairs i think (mid-term).. hopefully we can get it one...
Thx Specs, trading emotion control/cancellation is my trading goal next year.
Have a great Xmas break too brother.
Personally, I think 2013 we going to fly.
Come with me if you want to live....
  • #332,768
  • Dec 23, 2012 4:02pm Dec 23, 2012 4:02pm
Gidday

I got trapped with a long at 16270,then went short to hedge.
Both small trades,thought we would see some action up stairs before the drop.
I had to many charts open an had to hedge a few pairs.
Trading is a battle field an the unexpected happens.

I will sort the problem out ASAP
  • #332,769
  • Dec 23, 2012 5:02pm Dec 23, 2012 5:02pm
Quoting Silat50
Tao, my man. Our resident PSYCHIATRIST. I am really interested in your unique charts and all this supply and demand stuff. Is there anywhere on FF where you explain how to use your method or get your kind of charts? Id sure love to learn more.

Thanks, and happy holidays!
You have to join " The Illuminati .." .

Inserted Video


I Kid ..

Supply & demand link(Webinars):

Sam Seiden
http://www.fxstreet.com/search/contr...&contenttype=w

For Taking Entries :

VSA with Malcomb
http://www.forexfactory.com/showthre...1760&page=1567

If You don't have the time to read through the thread , then I recommend reading HiddenGap , Intel & Pres78 's Posts .. Visit their Personal Page/Profile and just go through their Attachments/Posts..They are brilliant..


Gbpusd

- I think the Newly formed Demand Level might take on the Old Supply level..
- Will only take trades in the demand zone..
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  • #332,770
  • Dec 24, 2012 3:39am Dec 24, 2012 3:39am
Happy Christmas for Everyone who's celebrate...

http://www.hdwallpapersarena.com/wp-...es-218077.jpeg
Always looking the GREAT, never left GOOD Point...
  • #332,771
  • Dec 24, 2012 4:16am Dec 24, 2012 4:16am
Quoting Tsar
Happy Christmas for Everyone who's celebrate...

http://www.hdwallpapersarena.com/wp-...es-218077.jpeg
Merry Christmas Tsar

There could be a little Christmas spring in the NY step
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Come with me if you want to live....
  • #332,772
  • Edited 4:39am Dec 24, 2012 4:28am | Edited 4:39am
Quoting Ill-b-back
Merry Christmas Tsar

There could be a little Christmas spring in the NY step
Merry Christmas Ill-b-back, my Good friend

CABLE need One Cycle for DOWN again... before BACK to BULLISH, Bro
Watch in D1 (6/8) Octave got Potential BREAK in there...
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Always looking the GREAT, never left GOOD Point...
  • #332,773
  • Dec 24, 2012 4:38am Dec 24, 2012 4:38am
I agree brother, but I think Fridays Asian Lows around 6240ish today could be achieved before continuing down again.
Come with me if you want to live....
  • #332,774
  • Dec 24, 2012 4:44am Dec 24, 2012 4:44am
Quoting Ill-b-back
I agree brother, but I think Fridays Asian Lows around 6240ish today could be achieved before continuing down again.
Only 2 Days for TRADE the End of 2012 Year finish, Bro.

Try think use LOGIC, We see CABLE Upward Now...
But One by One Traders will Close their Trade, for Celebrate & Vacation the End of 2012 Year.
Didn't VOLUME will Down ? And Price will Down too ??

Next Year... wait Next Year, We will see BULLISH Trend continue
Always looking the GREAT, never left GOOD Point...
  • #332,775
  • Dec 24, 2012 4:48am Dec 24, 2012 4:48am
Yes next year bullish brother

But 6240 today I think, just what chart logic tells me.

I'm not opening any trades today, not buying, not selling, just drinking
Come with me if you want to live....
  • #332,776
  • Dec 24, 2012 4:50am Dec 24, 2012 4:50am
Quoting Tsar
Only 2 Days for TRADE the End of 2012 Year finish, Bro.

Try think use LOGIC, We see CABLE Upward Now...
But One by One Traders will Close their Trade, for Celebrate & Vacation the End of 2012 Year.
Didn't VOLUME will Down ? And Price will Down too ??

Next Year... wait Next Year, We will see BULLISH Trend continue
I am bearish Tsar, but see 6240 as a possible retracement level before going down again.
Come with me if you want to live....
  • #332,777
  • Dec 24, 2012 4:54am Dec 24, 2012 4:54am
Retrace to 1.6238, followed by downside action to 1.6143. At that point we either do some bouncing or break lower...1.6042 is the first location of any significant demand. Currently +81 on my daily-based short position.
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  • #332,778
  • Dec 24, 2012 5:03am Dec 24, 2012 5:03am
Quoting Ill-b-back
Yes next year bullish brother

But 6240 today I think, just what chart logic tells me.

I'm not opening any trades today, not buying, not selling, just drinking
I closed the Trade a few hours ago, Bro

And will enjoy the end of 2012 year with Family and my Fiends, Tomorrow morning ...
No TRADE again. Wait Next 2013 Year coming...
Need RELAX & Full REFRESH, for Body & Head. Enjoy these Life...
Always looking the GREAT, never left GOOD Point...
  • #332,779
  • Dec 24, 2012 9:54am Dec 24, 2012 9:54am
Now waiting for Buy Signals ...
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  • #332,780
  • Dec 24, 2012 9:56am Dec 24, 2012 9:56am
Quoting Tsar
I closed the Trade a few hours ago, Bro

And will enjoy the end of 2012 year with Family and my Fiends, Tomorrow morning ...
No TRADE again. Wait Next 2013 Year coming...
Need RELAX & Full REFRESH, for Body & Head. Enjoy these Life...
Have a Nice Holiday , Tsar ..
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