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Cable Update (GBPUSD)

  • #346,721
  • Edited 9:13am Sep 11, 2013 6:21am | Edited 9:13am
closing above daily hi 1.5744 put pairs on breakout. previous highest hi 1.5751.

Price is bullish for breakout above 1.5751. See weekly and daily chart's resistance. Each time, it break resistance/support = big swing to another range.

Hour 4 RSI??? ==

Why short?

If want short, wait for daily close under 1.5744 meaning no breakout, if not go long add on retracement once pullback is completed following the trend then to fight. Ofc there are chances to short. But don't look good if it's above daily resistance. if it reclaimed back resistance channel, then it's worthy. meanwhile, all these look more like pullback to me. Just like how people may have short all the way from 1.56-1.57 until today.

The catalyst for bullish GBP is quite obvious as seen on fundamental's update, which should keep the risk on bull on GBP pairs.
  • #346,722
  • Sep 11, 2013 6:24am Sep 11, 2013 6:24am
Quoting nAVIN2007
{quote}
No Bear again
Always looking the GREAT, never left GOOD Point...
  • #346,723
  • Sep 11, 2013 6:51am Sep 11, 2013 6:51am
Good day to you,

Placed some small shorts - but my interest is @ 1.5845 - 1.5883.

Regards
Attached Image (click to enlarge)
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  • #346,724
  • Sep 11, 2013 8:55am Sep 11, 2013 8:55am
Quoting Tsar
{quote} No Bear again
Cable in H1 Chart...



ps.
I'm so sorry late Upload H1 Chart, because got Trouble in Connection
Attached Image (click to enlarge)
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Always looking the GREAT, never left GOOD Point...
  • #346,725
  • Sep 11, 2013 8:59am Sep 11, 2013 8:59am
To me this looks like a fake breakout of 61.8 fib retracement at 1.5750, there seems to be too many shorts at the moment and instos will mostly likely squeeze/stop hunt them. GBP/USD will probably range around this level or even reach 1.585 pending for FOMC next week. If taper is announced then GBP/USD will drop on the dollar bull.
  • #346,726
  • Edited 9:26am Sep 11, 2013 9:09am | Edited 9:26am
for those who are adding shorts from below, and are getting stopped out, they are fueling the bull.

For eg, sell 1.5740, stop 1.5790 = , when it reached 1.5790, you will sell it at closed LIVE BUY. And inturns, the market lose 1 seller, and add 1 more buyer at your stop loss point. A seller at 1.5740 is not a seller when price is in margin from 1.5741-90, you are only a seller at 1.5740

I trade via only following's intra-day direction of trend and push.

a better way not to chase top now will let the bull pa move up, sell below the last's bull pa support on hourly/4hourly.
Attached Image (click to enlarge)
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  • #346,727
  • Sep 11, 2013 9:29am Sep 11, 2013 9:29am
Quoting 5percent
for those who are adding shorts from below, and are getting stopped out, they are fueling the bull. For eg, sell 1.5740, stop 1.5790 = , when it reached 1.5790, you will sell it at closed LIVE BUY. And inturns, the market lose 1 seller, and add 1 more buyer at your stop loss point. A seller at 1.5740 is not a seller when price is in margin from 1.5741-90, you are only a seller at 1.5740 I trade via only following's intra-day direction of trend and push. {image}
Maybe only newbies, who have no clue how to manage their trades, do this.
  • #346,728
  • Sep 11, 2013 10:45am Sep 11, 2013 10:45am
The incident in Syria has left the dollar in mixed sentiment, although dollar strength is anticipated very soon.

Claimant Count Change and unemployment rate in GBP has given it enough power to break resistance, targets for reversal have thus changed.

Looking at the Cable chart, indicators are slowing down nearing the overbought zone, which could signal a reversal by next week. A bearish Crab is almost complete, and a bullish Shark pattern might be on it's course as well.

The pattern reversal zone (PRZ) is estimated to be in the range of [1.5900, 1.5980] according to harmonic coordinates and resistance lines.

Targets to take profit are 1.5400 and 1.5070.
Attached Image (click to enlarge)
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  • #346,729
  • Sep 11, 2013 10:54am Sep 11, 2013 10:54am
Quoting 5percent
for those who are adding shorts from below, and are getting stopped out, they are fueling the bull. For eg, sell 1.5740, stop 1.5790 = , when it reached 1.5790, you will sell it at closed LIVE BUY. And inturns, the market lose 1 seller, and add 1 more buyer at your stop loss point. A seller at 1.5740 is not a seller when price is in margin from 1.5741-90, you are only a seller at 1.5740 I trade via only following's intra-day direction of trend and push. a better way not to chase top now will let the bull pa move up, sell below the last's bull pa...
Quoting 5percent
closing above daily hi 1.5744 put pairs on breakout. previous highest hi 1.5751. Price is bullish for breakout above 1.5751. See weekly and daily chart's resistance. Each time, it break resistance/support = big swing to another range. Hour 4 RSI??? == Why short? If want short, wait for daily close under 1.5744 meaning no breakout, if not go long add on retracement once pullback is completed following the trend then to fight. Ofc there are chances to short. But don't look good if it's above daily resistance. if it reclaimed back resistance channel,...
Good Explaint & Best Choice
Always looking the GREAT, never left GOOD Point...
  • #346,730
  • Sep 11, 2013 11:00am Sep 11, 2013 11:00am
Gu running crazy again & again after broken 5751 ,likely to 5810-5878 ok to see , still in the swing of expanding triangle & will wait for the good crush at some highs . one good level already reached 5826, next to 5878 goes if 5985 to 6043 approximately next day , again if as can crush any time .
anyway extreme should deal with extreme care too .
fontu
Attached Image(s) (click to enlarge)
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #346,731
  • Sep 11, 2013 11:10am Sep 11, 2013 11:10am
Quoting Tsar
{quote} {quote} Good Explaint & Best Choice
No it's not. It just messes up new trader's head.
  • #346,732
  • Sep 11, 2013 12:05pm Sep 11, 2013 12:05pm
Testing a short on GBPHKD here, nice tight supply level.
All posts are my personal opinion
  • #346,733
  • Sep 11, 2013 12:07pm Sep 11, 2013 12:07pm
Quoting 1pipperhour
{quote} No it's not. It just messes up new trader's head.
Yes, it is.

Someone (have a look who it was) replied to one of the quotes you commented on here by "Maybe only newbies, who have no clue how to manage their trades, do this."

What 5percent is saying in that quote will give them the clues they need to improve - he is not only saying what is wrong but why it is wrong and what to do about it.
  • #346,734
  • Edited 1:12pm Sep 11, 2013 12:57pm | Edited 1:12pm
Cable drops from swing highs 7 days intervals.With Sept 18 coming and most likely Feds scaling down QE I anticipate US dollar getting lot stronger.
Sept 16-18 is end of 7 day interval.
I added another short at 5820 with confidence.Grey boxes are swing drops.
h4 shows more clearly the "box"
Just mere fact of Feds press release will cause nervous reaction with those holding longs since Feds already mentioned several times they intend scaling down.
Sell off may start as early as tonight and all the way to Friday and continue Mon and Tues.(or I could be proven wrong since anything can happen but this is my thought process)
Attached Image(s) (click to enlarge)
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Attached Image
In trading, you have to be defensive and aggressive at the same time
  • #346,735
  • Sep 11, 2013 1:20pm Sep 11, 2013 1:20pm
Strong signal from RSI 14 daily and H4
It almost reached 80 and typically 80 is turning point area.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.daily.png Size: 41 KB
In trading, you have to be defensive and aggressive at the same time
  • #346,736
  • Sep 11, 2013 1:49pm Sep 11, 2013 1:49pm
Quoting karelk
{quote} Yes, it is. Someone (have a look who it was) replied to one of the quotes you commented on here by "Maybe only newbies, who have no clue how to manage their trades, do this." What 5percent is saying in that quote will give them the clues they need to improve - he is not only saying what is wrong but why it is wrong and what to do about it.
If you say so ...

In the mean time I'll just sit back and enjoy the show ...
  • #346,737
  • Sep 11, 2013 1:51pm Sep 11, 2013 1:51pm
Thank you davit, can you elaborate how you can spot trend reversals more? Do you watch other pairs for confirmation?
  • #346,738
  • Sep 11, 2013 1:56pm Sep 11, 2013 1:56pm
Quoting vaidas7777
Thank you davit, can you elaborate how you can spot trend reversals more? Do you watch other pairs for confirmation?

Hi Vaidas
This is a huge subject and I am running to work.
Do check this thread Lot of great info.
Regards
In trading, you have to be defensive and aggressive at the same time
  • #346,739
  • Sep 11, 2013 2:51pm Sep 11, 2013 2:51pm
Quoting Davit
Strong signal from RSI 14 daily and H4 It almost reached 80 and typically 80 is turning point area. {image}
Hi Davvit,

Can you share the link or file where you got your ADR indicator? Really like it.
  • #346,740
  • Sep 11, 2013 3:10pm Sep 11, 2013 3:10pm
Nevermind, I got it. Thanks for your hard work.
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