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Cable Update (GBPUSD)

  • #347,241
  • Sep 19, 2013 2:15am Sep 19, 2013 2:15am
Quoting _BBKing_
{quote} yep 1.61 area is not that simple and now the first approach have been proved supply. i suspect further re.test later this/next week so will be careful but most of all.... EURO at the moment has more room to the upside so eur gbp is worth a consideration till 8460-8480

i doubt it..why???

gbp index was at an complete extreme..if price broke it..and believe me it was there to the pip...cable breaks that area all shorters would lose there account, me included..if any1 is interested in a detailed analysis i can post it, otherwise i cant be bothered..as i have work in a few hours
  • #347,242
  • Sep 19, 2013 2:17am Sep 19, 2013 2:17am
Quoting ForexRatVN
{quote} Navin, That seems reasonable level you're looking for... I will feel better if she will head south as deep as 157xx. That is bottom line of daily channel and approx 50% Fibo of September raise so far

i looking for monthly to close at around 1.56..this has to happen for short to continue
monthly close..before that i doubt it is possible

but b4 this..weekly need a bear formation to play into the monthly..i reversal of yesterday movement will add a new mix to da flavour
  • #347,243
  • Sep 19, 2013 2:19am Sep 19, 2013 2:19am
Quoting Davit
Few thoughts for Bears Do what you can to sustain maybe possible another 200pips up and you can close some "legs" to alleviate the pressure. Add funds if you can.Whatever you do don't panic and close your shorts now. In just few months we could see 154 again. Last time cable 1.70 was in 2009 and conditions economically are not the same.British economy is weak despite of rosy projections.Much of this happy hysteria I suspect will come down next few months. One way to overcome DD's is to trade with smaller lots and low leverage.Expect the worst...
Patience will pay off. Good luck man.
  • #347,244
  • Sep 19, 2013 2:28am Sep 19, 2013 2:28am
23.6% 5774-6162 and Daily Pivot at the current daily lo.

-----------------------------

Just a note on these bears - here and elsewhere - now some traders trade a mean reversion type edge building positions into a potential swing point, and some just get in too early and convince themselves (and worse - try to convince others) / back fit their analysis, averaging in or adding to a loser as others many call it.... In general though - yes trends do move in waves - be they Elliot waves [ impulsive and corrective] or be they just ' with trend ' moves and pullbacks - but when overall price action on subsequently higher significant t/f's has been telling us what the trend is for some time now - it is generally always better to get with it not against it (until it breaks down-howsoever you determine that.) This is just Forex 101. If these bears had put just 1/2 as much effort building long positions/getting with trend instead of trading what they think - then they would have saved themselves the pain/stress of unrealised drawdown and made profit - in an obvious uptrend - ie got with what was the screamingly obvious greater probability - not against it.

G/L
ex member
  • #347,245
  • Sep 19, 2013 2:47am Sep 19, 2013 2:47am
Quoting nAVIN2007
{quote} excellent trade bro..seriously man well done
Thanks nAV,
What I don't understand though, is what has the "potential" for shorters blowing their account got to do with preventing a "potential" bullish reality. Are you expecting the market to have mercy?
Come with me if you want to live....
  • #347,246
  • Edited 3:14am Sep 19, 2013 2:59am | Edited 3:14am
Quoting Ill-b-back
{quote} Thanks nAV, What I don't understand though, is what has the "potential" for shorters blowing their account got to do with preventing a "potential" bullish reality. Are you expecting the market to have mercy?
When i trade i look at a lot of factors im bullish on cable long term..but i dont see it yet..
example this chart i post is a year chart (1st chart)..it is bearish so far this movement up is a retrace..cable has done amazing to have moved up from 1.5 to 1.61..but i dont think it has the strength to close bullish ..

then i look at the index..gbp is at an extreme and already has printed a bear ingulf at a point i consider to be vital from yesterday..this area is the line in the sand for cable strength. yesterday cable rose due to tapper emotions..not gbp strength.
extreme provides sell or buy points


I am 100% mechanical in my approach to trading i believe the direction is south shorter term..hence why im short..it is as simply as that..no wishing
cable has 3 months to print a bull otherwise im bear
looking for a potential below 1.48
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  • #347,247
  • Sep 19, 2013 3:07am Sep 19, 2013 3:07am
Quoting bbmac
23.6% 5774-6162 and Daily Pivot at the current daily lo. ----------------------------- Just a note on these bears - here and elsewhere - now some traders trade a mean reversion type edge building positions into a potential swing point, and some just get in too early and convince themselves (and worse - try to convince others) / back fit their analysis, averaging in or adding to a loser as others many call it.... In general though - yes trends do move in waves - be they Elliot waves [ impulsive and corrective] or be they just ' with trend ' moves...
There's no point to argue about anyone's trading method. If they (me included) make money that way, so be it. Even if you have losing shorts doesn't mean you can't profit from longs in the same time. It all comes down to money management.
  • #347,248
  • Sep 19, 2013 3:08am Sep 19, 2013 3:08am
Quoting nAVIN2007
{quote} i doubt it..why??? gbp index was at an complete extreme..if price broke it..and believe me it was there to the pip...cable breaks that area all shorters would lose there account, me included..if any1 is interested in a detailed analysis i can post it, otherwise i cant be bothered..as i have work in a few hours
Hi, yes pls... iam very interested to know is there a bearish sight now?
  • #347,249
  • Sep 19, 2013 3:10am Sep 19, 2013 3:10am
Quoting Care forex
{quote} Hi, yes pls... iam very interested to know is there a bearish sight now?

i received yur pm so i have posted it in here ..see above
  • #347,250
  • Sep 19, 2013 3:14am Sep 19, 2013 3:14am
Quoting nAVIN2007
{quote} When i trade i look at a lot of factors im bullish on cable long term..but i dont see it yet.. example this chart i post is a year chart (1st chart)..it is bearish so far this movement up is a retrace..cable has done amazing to have moved up from 1.5 to 1.61..but i dont think it has the strength to close bullish .. then i look at the index..gbp is at an extreme and already has printed a bear ingulf at a point i consider to be vital from yesterday..this area is the line in the sand for cable strength I am 100% mechanical in my approach to...
Ok then I must have misinterpreted your account blowing comment sorry mate.
With your GBP analysis, considering the monthly bullish divergence you showed a while ago and current bullish action, I don't really know why you think it is too early for Cable to break free. It looks to me from your index chart that it is just itching to do a runner.
Your USD index looks like its ready to fall through the floor, why going against that bearish candle with a bullish prediction?
Come with me if you want to live....
  • #347,251
  • Sep 19, 2013 3:15am Sep 19, 2013 3:15am
Quoting nAVIN2007
{quote} i received yur pm so i have posted it in here ..see above
So shall keep the short as I have some short positions. no more bullish trend?
  • #347,252
  • Sep 19, 2013 3:17am Sep 19, 2013 3:17am
Quoting Ill-b-back
{quote} Ok then I must have misinterpreted your account blowing comment sorry mate. With your GBP analysis, considering the monthly bullish divergence you showed a while ago and current bullish action, I don't really know why you think it is too early for Cable to break free. It looks to me from your index chart that it is just itching to do a runner.

that monthly divergence can takes years to manifest
carney doesnt want interest rate increase..that point is the extreme where crossed cable is buy and interest rate rise is on..i dont believe UK is ready for this yet..

the ft100 index also looks topped out to me
  • #347,253
  • Sep 19, 2013 3:19am Sep 19, 2013 3:19am
Quoting Care forex
{quote} So shall keep the short as I have some short positions. no more bullish trend?

i really have no idea..just posting my analysis
if it happens great otherwise i got it wrong..both is possible
  • #347,254
  • Sep 19, 2013 3:21am Sep 19, 2013 3:21am
Quoting Care forex
{quote} So shall keep the short as I have some short positions. no more bullish trend?
Come on man. Are you really asking that here? Don't listen to anybody.
  • #347,255
  • Sep 19, 2013 3:26am Sep 19, 2013 3:26am
Quoting 1pipperhour
{quote} Come on man. Are you really asking that here? Don't listen to anybody.
No harm to know more. As some guy here are really good in their analysis.
  • #347,256
  • Sep 19, 2013 3:26am Sep 19, 2013 3:26am
Quoting 1pipperhour
{quote} Come on man. Are you really asking that here? Don't listen to anybody.

u should always listen but just listen especially if u cant trade
in the end u have enter and accept yur responsible for the trade decision and nobody else
  • #347,257
  • Sep 19, 2013 3:28am Sep 19, 2013 3:28am
Quoting nAVIN2007
{quote} that monthly divergence can takes years to manifest carney doesnt want interest rate increase..that point is the extreme where crossed cable is buy and interest rate rise is on..i dont believe UK is ready for this yet.. the ft100 index also looks topped out to me
Everyone is focused on Carney and taking no notice of Bens promise to keep interest rates near zero until it pleases the Fed to do otherwise.
But we all do what we got to do.
All the best nAV
Come with me if you want to live....
  • #347,258
  • Sep 19, 2013 3:32am Sep 19, 2013 3:32am
Quoting Ill-b-back
{quote} Everyone is focused on Carney and taking no notice of Bens promise to keep interest rates near zero until it pleases the Fed to do otherwise. But we all do what we got to do. All the best nAV


Ben is there for one reason only - to f..k us
  • #347,259
  • Sep 19, 2013 3:38am Sep 19, 2013 3:38am
Quoting Ill-b-back
{quote} Everyone is focused on Carney and taking no notice of Bens promise to keep interest rates near zero until it pleases the Fed to do otherwise. But we all do what we got to do. All the best nAV

yeah i didnt think ben would announce a tapper but i thought USD strength was building..it still can..with a bit of luck

thanks bro ...u too
  • #347,260
  • Sep 19, 2013 3:38am Sep 19, 2013 3:38am
......we've seen 2 x LH's and a potential LL on 1hr now - so uptrend there may be struggling ?...4hr/daily/weekly uptrends remain intact at time of writing.

Some comfort for the longer term bears ?

U.s data later

G/L
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