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Cable Update (GBPUSD)

  • #347,041
  • Sep 16, 2013 9:35am Sep 16, 2013 9:35am
Quoting andexQ
{quote} Thanks Mate.. Be careful, level 1.5945 isn't safe yet..
thanks for concern buddy.
when GOD brings you a challenge he also gives you the power to deal with it
  • #347,042
  • Sep 16, 2013 9:40am Sep 16, 2013 9:40am
interesting to see euro testing 1.34 again after making 4 attempts from mid June. surely that supply zone is getting weaker and weaker and its going to break through sometime soon.

If you're of the opinion that the gbp/usd and eur/usd are positively correlated and EU has been ahead of GU which it appears to have been, then this bull run might not be over anytime soon, especially if alot of fresh shorters have entered the market along with a lot of easy fresh stops.
  • #347,043
  • Sep 16, 2013 9:41am Sep 16, 2013 9:41am
Quoting andexQ
{quote} Thanks Mate.. Be careful, level 1.5945 isn't safe yet..
Quoting eitan1010
{quote} thanks for concern buddy.
It safe now..
  • #347,044
  • Sep 16, 2013 10:18am Sep 16, 2013 10:18am
Current support at 1.5917 is likely to remain for the day unless there's a news impact to drive volatility.

We have a range 1.5917-1.5962 so far. A break below 1.5917, potentially have an estimated target at 1.5840. However, 1.5885 may provide some support as price gapped from there.

A move down below 1.5917 will confirmed price leaving this range to another.

I am a seller at 1.5951 zone but remained bullish on the overall momentum, and would like to see pull back to 1.5840 preferably and see price reaction at that zone.
  • #347,045
  • Sep 16, 2013 10:24am Sep 16, 2013 10:24am
I should have been clearer what charting software do you guys use

thanks
  • #347,046
  • Sep 16, 2013 10:57am Sep 16, 2013 10:57am
Currently testing level 1.5932 resistance, if its hold breakdown is imminent... imo
  • #347,047
  • Sep 16, 2013 10:59am Sep 16, 2013 10:59am
Quoting yaphets
anyone knows why the us index droped so much, but gold did not rise? It should be counter-trended?
hi,
gold spot price is XAU USD cross value. so if xauusd is not rising with weak USD, basically means that at the moment XAU is even weaker than USD. in few words, market is not interested in buying XAU. at least not yet!
90% of traders use TA, indicators and prediction
  • #347,048
  • Sep 16, 2013 11:01am Sep 16, 2013 11:01am
Quoting Moominpapa
I should have been clearer what charting software do you guys use thanks
Hi,
I'm using MT4, not sure what everyone else using but as far as I know mostly MetaTrader... Greeting.
  • #347,049
  • Sep 16, 2013 12:09pm Sep 16, 2013 12:09pm
Quoting andexQ
{quote} Hi.. thanks for respond. Just enter short too at 1.59518, target not defined..
closed at 1.59194


Quoting andexQ
{quote} Add second short at 1.59487, open..
closed at 1.59189
  • #347,050
  • Sep 16, 2013 12:11pm Sep 16, 2013 12:11pm
Evening Star on 1 hour chart formed.
  • #347,051
  • Sep 16, 2013 12:17pm Sep 16, 2013 12:17pm
Quoting eitan1010
{quote} short @ 1.5950 for 35 pips [email protected]
tp ring my bell

when GOD brings you a challenge he also gives you the power to deal with it
  • #347,052
  • Sep 16, 2013 12:23pm Sep 16, 2013 12:23pm
Quoting eitan1010
{quote} tp ring my bell

What was lot size?
  • #347,053
  • Sep 16, 2013 12:29pm Sep 16, 2013 12:29pm
Quoting iahmedz
{quote} What was lot size?
3 lots
when GOD brings you a challenge he also gives you the power to deal with it
  • #347,054
  • Sep 16, 2013 2:21pm Sep 16, 2013 2:21pm
carry out to sleep for today then , see u all next day.
http://www.forexfactory.com/showthre...72#post6968072
fontu
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdh4.png Size: 31 KB
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #347,055
  • Sep 16, 2013 4:13pm Sep 16, 2013 4:13pm
Quoting Davit
Key to rip most benefit is to wait for swing change.I can easily wait a month to reach my target.I know they are lot of scalpers and day traders here and from their perspective price going 30pips against their position is huge.Not with me.I allow even 300pips against my position because I average in my orders and usually top orders are slightly larger. I trade grid,channels and that is my style and having 20-30% DD is normal in my way of trading.If you do research one of the most successful trading group Turtles often experienced large DD's even...
Hello David. How do you handle your GBPCAD trades? Are you still holding your shorts? Thanks.
  • #347,056
  • Sep 16, 2013 5:37pm Sep 16, 2013 5:37pm
Quoting chamchoun
for me gbp sellll {image}
New lower low daily
  • #347,057
  • Sep 16, 2013 8:20pm Sep 16, 2013 8:20pm
Quoting 5percent
What i will do, look at pullback zone and see reaction on areas of concern going in upon tested. Further buy stops current hi above during Europe Sessions. This is a 1 hour chart. {image}
GBPUSD so far have pull back to the green mark zone, though many may think the gap has yet closed. But often, gap don't necessary land on the same area. The earlier estimated range landed on the green zone. I am relooking at a new range of 1.5917-1.5895/85 in Asia before a new direction to re-test top or bottom @ 1.5840. Above 1.5927 will be bullish to re-test top again.

1.5917's was previous support should provide some resistance.

Current out look from my opinion only and intra-day only.

Minor range for me.

Pivot. 1.5917
R1: 1.5917
R2: 1.5927
R3: 1.5962

S1: 1.5894
S2: 1.5872
S3: 1.5840
  • #347,058
  • Sep 16, 2013 8:56pm Sep 16, 2013 8:56pm
Quoting 5percent
{quote} GBPUSD so far have pull back to the green mark zone, though many may think the gap has yet closed. But often, gap don't necessary land on the same area. The earlier estimated range landed on the green zone. I am relooking at a new range of 1.5917-1.5895/85 in Asia before a new direction to re-test top or bottom @ 1.5840. Above 1.5927 will be bullish to re-test top again. 1.5917's was previous support should provide some resistance. Current out look from my opinion only and intra-day only. Minor range for me. Pivot. 1.5917 R1: 1.5917 R2:...
Hmm yes you do have a very tight range there!!

I took a long positions at 1.59 for a scalp. Obviously if we take a general unbiased approach market has bounced off 1.60 and is on the road down
Even the worst trade can close with profit. Just give it time.
  • #347,059
  • Sep 16, 2013 9:26pm Sep 16, 2013 9:26pm
Quoting John Gray
{quote} Hmm yes you do have a very tight range there!! I took a long positions at 1.59 for a scalp. Obviously if we take a general unbiased approach market has bounced off 1.60 and is on the road down

From now till frankfurts, price may stuck and range 1.5885-1.5905. Looking to build a good long position with about 5-10pips stop loss at most upon test just 1-2 hour before frankfurt opens somewhere at 1.5885-95. For now, asia is alittle too low on liquidity and volatility. If not i will sell lower than 1.5885 and buy higher than 1.5906, during Europe Sessions.
  • #347,060
  • Sep 17, 2013 1:20am Sep 17, 2013 1:20am
Quoting 5percent
{quote} From now till frankfurts, price may stuck and range 1.5885-1.5905. Looking to build a good long position with about 5-10pips stop loss at most upon test just 1-2 hour before frankfurt opens somewhere at 1.5885-95. For now, asia is alittle too low on liquidity and volatility. If not i will sell lower than 1.5885 and buy higher than 1.5906, during Europe Sessions.
support turn resistance -> 1.5915/7
resistance turns support likely -> 1.5905/6.

see which side give way.
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