Cable Update (GBPUSD) | Page 16989 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

GBP/USD

Similar Threads

Cable Update - Continued 118 replies

Cable Update (GBP/USD) without Idiots 25 replies

cable short for gbpusd? 10 replies

Why is GBPUSD called cable? 76 replies

Cable (GBPUSD) vs Euro (EURUSD) 31 replies

Attachments: Cable Update (GBPUSD)
Exit Attachments

Cable Update (GBPUSD)

  • #339,761
  • Apr 30, 2013 11:13am Apr 30, 2013 11:13am
Quoting big_pipin
{quote} Not sure how my triangle is different, it looks the exact same. {quote} - investopedia.com Please post your chart.

notice the 3 point touch on both trendlines..but even this is a weak signal
but it in the direction of the immediate trend
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdh4.png Size: 66 KB
  • #339,762
  • Apr 30, 2013 11:17am Apr 30, 2013 11:17am
Quoting Robby
When you see this kind of parabolic move and the order flow drops off this is excellent trade too! You can catch this kind of a exhaustion on multi hour charts it will make you a very happy person!!!!!!{quote}
But you gotta consider technical context. IF it reached it's targets in a parabolic manner then you can surely bet against the movement and catch a nice top/bottom..
69
  • #339,763
  • Apr 30, 2013 11:18am Apr 30, 2013 11:18am
Quoting Robby
I would not worry to much about it... People will learn in markets their is no such thing as perfect well defined patterns. The harder it is to find the better the trade will be. People will learn all it takes is time and enough money being lost and that loss will make them have a very agonizing reappraisal of the chart and then the light will come on. Until that time the mind is closed.{quote}
So where do you suggest this is going? Up or Down? What level?
  • #339,764
  • Apr 30, 2013 11:19am Apr 30, 2013 11:19am
Quoting Likerty
{quote} You dount know what is parabola? Basic geomtery.. When price progresses exponentially it runs out of liquidity (sooner or later) thats so called overboght/oversold condition, BUT you can't trade solely on these statistical deviations without PA levels. I dropped all divergences and indicators long time ago.. Uselless sh*t for me. Same goes for MA's {image}
Simple solutions! Nice share.
  • #339,765
  • Apr 30, 2013 11:21am Apr 30, 2013 11:21am
You are trying to draw on too large of a time frame. You need to drop down to 1hr of below 1hr like 30min data were you could draw that out.
Quoting nAVIN2007
{quote} notice the 3 point touch on both trendlines..but even this is a weak signal but it in the direction of the immediate trend {image}
  • #339,766
  • Apr 30, 2013 11:24am Apr 30, 2013 11:24am
YEP! Totally agree with you. You haft to be careful that you wait until the order flow drops or the sub 10min data shows a price break down that is not of the current move. Tick data is best to see that happening. What I use to see the end of the parabolic move. Personally
Quoting Likerty
{quote} But you gotta consider technical context. IF it reached it's targets in a parabolic manner then you can surely bet against the movement and catch a nice top/bottom..
  • #339,767
  • Apr 30, 2013 11:25am Apr 30, 2013 11:25am
Quoting Robby
You are trying to draw on too large of a time frame. You need to drop down to 1hr of below 1hr like 30min data were you could draw that out.{quote}
I was trying to keep it simple actually on the 1 hr its more of a diamond break to the topside..not actually a triangle
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdh1.png Size: 48 KB
  • #339,768
  • Apr 30, 2013 11:26am Apr 30, 2013 11:26am
The pound sterling is bullish in the short term. It is likely that during the American session today it pulls back towards the roof area of the bullish channel, around 1.5520/1.5550. But in the medium term we have a bearish outlook for the pair. For the reason the MCD moving average and the Momentum Indicator are showing strong bearish, target the 1.50 area. So we recommend selling on resistance levels with the nearest target in the fractal of 1.5280
  • #339,769
  • Apr 30, 2013 11:27am Apr 30, 2013 11:27am
Quoting Likerty
{quote} You dount know what is parabola? Basic geomtery.. When price progresses exponentially it runs out of liquidity (sooner or later) thats so called overboght/oversold condition, BUT you can't trade solely on these statistical deviations without PA levels. I dropped all divergences and indicators long time ago.. Uselless sh*t for me. Same goes for MA's {image}
I do now, thanks for the info
  • #339,770
  • Apr 30, 2013 11:30am Apr 30, 2013 11:30am
Quoting Tradedly
What I've been waiting on in Cable: http://youtu.be/lQ-bEH-LSvg
next time you should show that video ahead of time...
  • #339,771
  • Apr 30, 2013 11:34am Apr 30, 2013 11:34am
Just like the other guy posted a few pages ago the multi year chart showing the >. The direction is down for many reasons, and I am not going to post them. Big picture is you will move down but their are many many people who do not want it to move down and that is why you are getting the moves trying to slow down the move. But to answer your question you take the 1-2-3 of the start of the > and the distance from 2 to 3, then add that distance from were it left the > and that is your area it will move too. Along with alot of noise along the way!!! Trying to remove people from that move.
Quoting mintfx
{quote} So where do you suggest this is going? Up or Down? What level?
  • #339,772
  • Apr 30, 2013 11:38am Apr 30, 2013 11:38am
$GBPUSD may bounce once more at 1.5515/0 for 1.5570's
69
  • #339,773
  • Apr 30, 2013 11:41am Apr 30, 2013 11:41am
well im short @ 15550 move my sl to 15547 just incase it wants to go higher. I can always take annother possition if it does.
  • #339,774
  • Apr 30, 2013 11:43am Apr 30, 2013 11:43am
if you have a triangle then on all the time frames you will be able to see it if it's clear. It's best to look for patterns with line charts that way you can better see a pattern that you are trying to follow or define. Patterns are not very effective on small time frames. Larger time frames like monthly data / weekly data yes but 4hr / 1hr / 15min / 1min are not as effective as longer term ones. That goes for just about all kind of tech your trying to do. Smaller the time frame the less weight you put on it happening. So When you get into very small data then it dose not work very well due to all the noise. When you do find one in small time frames you can move between time frames and it will clearly be seen in every time frame you move too
Quoting nAVIN2007
{quote} I was trying to keep it simple actually on the 1 hr its more of a diamond break to the topside..not actually a triangle {image}
  • #339,775
  • Apr 30, 2013 11:44am Apr 30, 2013 11:44am
Yep that is what I am thinking too. That is were I am looking to add to my shorts! On failure!!!
Quoting Likerty
$GBPUSD may bounce once more at 1.5515/0 for 1.5570's
  • #339,776
  • Apr 30, 2013 11:50am Apr 30, 2013 11:50am
Quoting Robby
if you have a triangle then on all the time frames you will be able to see it if it's clear. It's best to look for patterns with line charts that way you can better see a pattern that you are trying to follow or define. Patterns are not very effective on small time frames. Larger time frames like monthly data / weekly data yes but 4hr / 1hr / 15min / 1min are not as effective as longer term ones. That goes for just about all kind of tech your trying to do. Smaller the time frame the less weight you put on it happening. So When you get into very...
  • #339,777
  • Apr 30, 2013 11:53am Apr 30, 2013 11:53am
Quoting Robby
Yep that is what I am thinking too. That is were I am looking to add to my shorts! On failure!!!{quote}
I woudnt add in the middle of intraday range on a breakout day.
below 1.5500 would hint about upcoming capitulation for bulls, but the real failure is below 5466 - a tick below and you can add on a bounces
69
  • #339,778
  • Apr 30, 2013 12:00pm Apr 30, 2013 12:00pm
hi chaps there is some major news on thursday that may force a upward trend and take out some of the SL's. Is anyone else considering this or are most of you on the technicals and ignoring the fundimentals?
  • #339,779
  • Apr 30, 2013 12:04pm Apr 30, 2013 12:04pm
I'm going to start sellling from here up to 1.5630 with TP at 1.5450 . Than cable will probably go up again . If the move up go to 1.5630 I wll change the TP
Attached Image (click to enlarge)
Click to Enlarge Name: 156.png Size: 148 KB
  • #339,780
  • Apr 30, 2013 12:15pm Apr 30, 2013 12:15pm
Quoting -sonny-
I'm going to start sellling from here up to 1.5630 with TP at 1.5450 . Than cable will probably go up again . If the move up go to 1.5630 I wll change the TP {image}
Do not think that it will go up that hi. But when we were at 1.5200 I did not think we will see 1.5568 any time soon but it did happen. good posibility it may go up to that level with the news on thursday or even tomorrow.
741 traders viewing now