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Cable Update (GBPUSD)

Quoting blobsaudio
This is a tricky situation for some of us right now (depending on how you trade). Currently stuck between 1.535x and 1.53 which doesn't provide a lot of room to enter in either direction.
imho, look for short mate.. along with fiber.. as long as cable hold the 5340 area, i think it will go south... long, long way south..
Quoting A-speculator
imho, look for short mate.. along with fiber.. as long as cable hold the 5340 area, i think it will go south... long, long way south..
I have been looking for short entries all morning using my indicator set ups (as the hourly candles are giving me nothing). By the time they say sell it is too close to 1.53 which provides support and is an area I won't buy or sell into when close due to the increased chance of a bounce.

Now to throw in some uncertainty, there is a bullish engulfing candle on my 4HR time frame, however its high is just below 1.535x
Quoting A-speculator
imho, look for short mate.. along with fiber.. as long as cable hold the 5340 area, i think it will go south... long, long way south..


Yea, i think it will, at least my instincts tells me that.
The fragrance remains in the hands of those that gves the rose
Quoting blobsaudio
I have been looking for short entries all morning using my indicator set ups (as the hourly candles are giving me nothing). By the time they say sell it is too close to 1.53 which provides support and is an area I won't buy or sell into when close just to the increased chance of a bounce. Now to throw in some uncertainty, there is a bullish engulfing candle on my 4HR time frame, however its high is just below 1.535x
imho, go for short as close as to 5340 and give up short (SL) if price manage to break 5340 - SL about 15-20 pips only..
Quoting okosodo
Yea, i think it will, at least my instincts tells me that.
instincts eh..
Quoting A-speculator
imho, go for short as close as to 5340 and give up short (SL) if price manage to break 5340 - SL about 15-20 pips only..
I need to get some practice in based on PA and trades like you just suggested to become comfortable making them like that
Quoting blobsaudio
I need to get some practice in based on PA and trades like you just suggested to become comfortable making them like that
indicators should not be your decision making tools mate.. 2 things which are important in trading:

1) Price - self explanatory
2) Timing - enters too early you will see your position will going nowhere..
Quoting A-speculator
indicators should not be your decision making tools mate.. 2 things which are important in trading: 1) Price - self explanatory 2) Timing - enters too early you will see your position will going nowhere..
They are used along with price zones and higher time frames to get an idea of the current trend.

My preferred method is using candles though. Indicators are used to confirm trades and as a mop up strategy when the candles are not producing some I can interpret due to lack of knowledge and experience.

Indicators without taking price zones into account would be madness and is probably why most indicator based set ups seem great at first glance then utterly useless at times.
Quoting blobsaudio
They are used along with price zones and higher time frames to get an idea of the current trend. My preferred method is using candles though. Indicators are used to confirm trades and as a mop up strategy when the candles are not producing some I can interpret due to lack of knowledge and experience. Indicators without taking price zones into account would be madness and is probably why most indicator based set ups seem great at first glance then utterly useless at times.
Quoting A-speculator
imho, look for short mate.. along with fiber.. as long as cable hold the 5340 area, i think it will go south... long, long way south..
I don't know about the long way. But it seems that the price found 5340 to be the stubborn level I was talking about.. So my thinking is that it should find good pressure to the south to punch through the 5315-5300 area..

Good luck to all.
I still need a trading break soon!!! "Loose some to win more" --Baher A.
Quoting baherhosni
I don't know about the long way. But it seems that the price found 5340 to be the stubborn level I was talking about.. So my thinking is that it should find good pressure to the south to punch through the 5315-5300 area.. Good luck to all.
the long way is whem we can get price to break 5220.. imho..
Quoting Ill-b-back
It's about time Gold followed the USD out of its God forsaken range
remember the heated debate i had with sidhujag about gold on the AUDUSD thread? well today alone proves my point that gold is an overpriced piece of shit.

well gona repost the link here for anyone interested
http://www.forexfactory.com/showthre...00#post6605500


how are you thought... havent heard from you for ages...
We live in a finite world with infinite possibilities.
5285 worth noting:
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It actually depens on tomorrow CPI report.

Quoting Tradedly
5285 worth noting: {image}
Quoting Tradedly
5285 worth noting: {image}
Ok but 5292 was an important level to try protect for a crazy due last leg up if protect then another range up possible crazily. broken & now similar level goes to 5250 & also 5239 . if also fail then again goes to 5034 & certainly 5026 target ^ breaks here too before jump towards present top as last leg up to down continue .

gold is violent , weekly 200ma low even broken as smooth as silk . next 1306 support but all are bounce area now playing & I think once settle, currencies ( explosion > tanking/turmoils ) will be active .
fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
Quoting kamifx
I have expected a Gap at the time of starting Market but it didn't happen but now i expect sharp down trend towards 1.5125 till tomorrow. Best Sell area would be around 1.5345/65
As I;ve told you before about down moving, now you have to see 1.5125 till tomorrow even lots of important news
Don’t follow someone else’s trading advice blindly
Quoting Ill-b-back
It's about time Gold followed the USD out of its God forsaken range
may be back again in that range but the world changes a lot by this time & will be surprise if it can stablize the hugely changed economy to old gold past ! but stay for some more time ( few years if ok ) to be distabilized again . anyway praying for the best ? all settle & hold for long time > back in God forsaken range.
fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
Quoting fontu
may be back again in that range but the world changes a lot by this time & will be surprise if it can stablize the hugely changed economy to old gold past ! but stay for some more time ( few years if ok ) to be distabilized again . anyway praying for the best ? all settle & hold for long time > back in God forsaken range. fontu
Gold is a good long term bet as is crude but in short term cable is a good sell imho
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Quoting claudia1
Gold is a good long term bet as is crude but in short term cable is a good sell imho {image}
not short term mate, it's a long term.. one day, we will see cable to trade in the 42xx area.. imho.
Still short till 5078
The fragrance remains in the hands of those that gves the rose
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