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Cable Update (GBPUSD)

  • #336,741
  • Mar 10, 2013 1:25pm Mar 10, 2013 1:25pm
Quoting bbmac
I will anser your points below:

1. I place on certain t/f charts consistent with my trading edge - the potential support and resistance factors identified by the 'potential support/resistance' factors methodology that is part of my trading edge...where they appear they appear they are not decided by me but by the market...it does not follow that price will necessarily bounce ffrom one of those areas, and it does not follow that one would necessarily trade at each one in respect of considering them a potential swing point.

2. We don't know what...
Not to mention that bbmac's analysis is worth following for different short, mid and long term traders. A scalper for example will make more use of lower TFs and little bounces along both sides of the R/Ss of small and mid significance, but long term traders will be more interested in areas where sharp movements may occur [confluelnce areas and reversal levels which may be identified using bigger TFs and fundamental analysis] that would keep there trade running for a lot more pips and time. Again, its the strategy. Even the two types of traders I just mentioned contain subtypes and strategies too.

Cheers to all and best of trades to all on this coming week
Wishing us all a green EOW next Friday
I still need a trading break soon!!! "Loose some to win more" --Baher A.
  • #336,742
  • Mar 10, 2013 1:38pm Mar 10, 2013 1:38pm
Quoting Maso
Do you expect some upward moves for this week?
I know the question wasn't pointed at me, but I just wanted to post a reply for it for the fun of it. I hope you nor bbmac will not mind me pasting my humble opinion.
well is upward moves are what interest you, then the only high probability upwards would be until 1.4980 area as a retest to the last drop. Other than that it is up to PA. At least we know that Monday "should" be calm. Some are able to get early indications of the market opening prices and gaps and all.

Which makes me ask yet another one of my disturbed questions hehe. Will a gap refill only occur when the price closes very close to a significant S/R level as a retest? Or is some sort of psychological rule that the market traders tend to fulfill? Or is it just a "FOREX" myth?

I looked in to some discussions about this but could settle on a solid answer!!

Cheers yet again!!
I still need a trading break soon!!! "Loose some to win more" --Baher A.
  • #336,743
  • Mar 10, 2013 1:40pm Mar 10, 2013 1:40pm
Just for the record, today I was browsing through another FOREX related forum and found that they ranked bbmac as a "legendary member"!
I still need a trading break soon!!! "Loose some to win more" --Baher A.
  • #336,744
  • Mar 10, 2013 2:17pm Mar 10, 2013 2:17pm
I expect nothing. I do not know what price will do...I have no opinion because to have an expectation is to form an opinion and then that might lead to trading what you think - not what you see. The market is always right and it will do what it will do and I will play my edge when it setss-up regardles of whether price continues a pullback / out and our=t reversal ' or finds fresh sell the pullback supply and continues lower.

G/L

Quoting Maso
Do you expect some upward moves for this week?
ex member
  • #336,745
  • Edited 2:45pm Mar 10, 2013 2:20pm | Edited 2:45pm
Quoting bbmac
2. We don't know what price will do - that is one of the underlying assumptions of technical analysis - we do not know that gbpusd will be lower in 24hrs from now...so the idea you mention is flawed. The importance of potential supoport/resistance (for some trading edges) is that they tell you where a recent obvious imbalance of demand over supply or supply over demand occurred or may occur as a result of the existance of potential supp/res factors there...that is all....this is importnat to know if looking to enter the market at suchg areas (dependant on prevailing PA to the area and at the area) and for trade management of a trade that reaches such an area (s) as explained in last post re assessing or not what the greater probability may be of future near term PA.
Edit: No need spending more space on this topic. Lets just make some money.
Twitter: @zusch_ -- Preselecting trending pairs, stocks on a weekly basis.
  • #336,746
  • Mar 10, 2013 2:28pm Mar 10, 2013 2:28pm
Quoting baherhosni
Just for the record, today I was browsing through another FOREX related forum and found that they ranked bbmac as a "legendary member"!
he is..he is the reason i still trade, thou this may surprise a few..he helped me when i practically gave up..
  • #336,747
  • Mar 10, 2013 3:27pm Mar 10, 2013 3:27pm
Quoting zusch
Edit: No need spending more space on this topic. Lets just make some money.
Perfectly said! Lets try to do that..
I still need a trading break soon!!! "Loose some to win more" --Baher A.
  • #336,748
  • Mar 10, 2013 4:07pm Mar 10, 2013 4:07pm
Quoting Maso
Do you expect some upward moves for this week?
Nobody knows it before they over actually , yet all PA fun , anything can happen in this areas like > correct towards 5630 + before 4444 or direct crush again and again towards 4444 then correct/pullback for 5630 or more for more down or not . That is critical 500 pips up or down now , if up then 1000 pips can be again down or not then 1000 pips can be again up!! very funny situation , no?
take care , like little correction before good tanking instead but who cares !!
lets see .
fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #336,749
  • Mar 10, 2013 5:26pm Mar 10, 2013 5:26pm
Quoting fontu
like little correction before good tanking
fontu
agreed, same as last week all over again but from a slightly lower start position. Hope you are well Fontu,
Money never sleeps...
  • #336,750
  • Mar 10, 2013 5:37pm Mar 10, 2013 5:37pm
We may never see above 1.536 I thing for a long time, at least 3 months.

Quoting fontu
Nobody knows it before they over actually , yet all PA fun , anything can happen in this areas like > correct towards 5630 + before 4444 or direct crush again and again towards 4444 then correct/pullback for 5630 or more for more down or not . That is critical 500 pips up or down now , if up then 1000 pips can be again down or not then 1000 pips can be again up!! very funny situation , no?
take care , like little correction before good tanking instead but who cares !!
lets see .
fontu
  • #336,751
  • Mar 10, 2013 6:28pm Mar 10, 2013 6:28pm
I was looking for a retrace before south again.

If 84 holds then naybe we will see a nice retracement.
  • #336,752
  • Mar 10, 2013 11:17pm Mar 10, 2013 11:17pm
GBPUSD H1 Chart as below.
Attached Image (click to enlarge)
Click to Enlarge Name: chart.gif Size: 32 KB
  • #336,753
  • Mar 10, 2013 11:45pm Mar 10, 2013 11:45pm
Quoting Maso
We may never see above 1.536 I thing for a long time, at least 3 months.
May be and in that case we may see much earlier .

Tanking continued without liquidity in the market , market well prepare for this unavoidable tanking then & better tolerate without much try too & from & hence more money to bet /less liquidity presume & more tanking 4444 or so may have more bounce with huge liquidity then & earlier than 3 months possible .
fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #336,754
  • Mar 10, 2013 11:49pm Mar 10, 2013 11:49pm
Quoting inpatient
agreed, same as last week all over again but from a slightly lower start position. Hope you are well Fontu,
Good Morning , yeah better , thanks .
true new lows continues in a short time & hence a bull flag in the scene & may be last leg down before the activation , can be over though & so rest bounce possible . not to forget disaster , as it in it , can be another , why not ?
fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #336,755
  • Mar 11, 2013 2:49am Mar 11, 2013 2:49am
Quoting Maso
We may never see above 1.536 I thing for a long time, at least 3 months.

based on what?? give us a break
  • #336,756
  • Mar 11, 2013 3:05am Mar 11, 2013 3:05am
Quoting nAVIN2007
based on what?? give us a break
Takes time to stop a freight train and then turn it around. 1.53 is 100 pips above last week's high so anyone thinking we'll get there this week is extremely optimistic. Tough to project farther and farther out in the future, but if the bulls got Cable to 1.53 by the end of the month I'd be impressed.
Twitter: @zusch_ -- Preselecting trending pairs, stocks on a weekly basis.
  • #336,757
  • Mar 11, 2013 3:18am Mar 11, 2013 3:18am
Quoting zusch
Takes time to stop a freight train and then turn it around. 1.53 is 100 pips above last week's high so anyone thinking we'll get there this week is extremely optimistic. Tough to project farther and farther out in the future, but if the bulls got Cable to 1.53 by the end of the month I'd be impressed.
1.5150-1.52 will be a hard hurdle already, 1.53 for bull if can reach, may already say bye bye to bottom, may even cause a reversal if previous high at 1.53** from breakout 1.5414 was overlapped by bull.
  • #336,758
  • Mar 11, 2013 3:19am Mar 11, 2013 3:19am
GU

This pair must touch 1.4780 to be in the Balance form of moving but H4 candle must be closed under 1.4890 and open under those areas otherwise it means doesn't have enough momentum to go down and it should touch 1.4990 and 1.5045 to get enough energy to go down remember the Balance Level right now is 1.4965
Don’t follow someone else’s trading advice blindly
  • #336,759
  • Mar 11, 2013 3:25am Mar 11, 2013 3:25am
this is still very bearish , it has nothing positive going for it and is headed to long term 1.40 or even 1.35 and lower, perhaps 1.25 or 1.20 in the very long term on purchasing power parity figure
  • #336,760
  • Mar 11, 2013 3:26am Mar 11, 2013 3:26am
Quoting nAVIN2007
based on what?? give us a break
Yeah Navin, I need a break for this week as well..
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