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Cable Update (GBPUSD)

  • #347,301
  • Sep 19, 2013 8:43am Sep 19, 2013 8:43am
Quoting nAVIN2007
{quote} sup homes
My Wife cooking...
Attached Image
Always looking the GREAT, never left GOOD Point...
  • #347,302
  • Sep 19, 2013 9:02am Sep 19, 2013 9:02am
Interest rate raise probability was linked with unemployment numbers at 7% which Carney repeated numerous times at his speech.
The unemployment rate of the economically active population decreased slightly, from 7.8 to 7.7%.Its got lot more room to go and that could take another year or two in the meanwhile we could revisit 1.55 even lower several times.
In trading, you have to be defensive and aggressive at the same time
  • #347,303
  • Sep 19, 2013 10:46am Sep 19, 2013 10:46am
How about cable. 230 pips yesterday, minus 100 today lol. Trader's paradise
When the facts change I change my mind, what do you do sir
  • #347,304
  • Sep 19, 2013 10:47am Sep 19, 2013 10:47am
Quoting Davit
Interest rate raise probability was linked with unemployment numbers at 7% which Carney repeated numerous times at his speech. The unemployment rate of the economically active population decreased slightly, from 7.8 to 7.7%.Its got lot more room to go and that could take another year or two in the meanwhile we could revisit 1.55 even lower several times.
Do you have any text on harmonics?
When the facts change I change my mind, what do you do sir
  • #347,305
  • Sep 19, 2013 10:51am Sep 19, 2013 10:51am
Quoting Pip Anon
How about cable. 230 pips yesterday, minus 100 today lol. Trader's paradise
yep!
some time ago (few years) it was like this every day... average day range was about 120pips
indeed recently i was really trading the gbp nzd + gbp chf!! much better to catch some 80 to 500 pips trades there
90% of traders use TA, indicators and prediction
  • #347,306
  • Sep 19, 2013 10:59am Sep 19, 2013 10:59am
Quoting _BBKing_
{quote} yep! some time ago (few years) it was like this every day... average day range was about 120pips indeed recently i was really trading the gbp nzd + gbp chf!! much better to catch some 80 to 500 pips trades there
Yes, so I have heard. The FX volatility periods I hear about year a few years prior to me starting. I seen a eurodollar historical volatility chart and I believe the early, mid 200s was 20+% lol

I have done EURNZD and was the quickest 70 pips ever lol. I need to ignore the spreads (GBPNZD 6; GBPCHF 4 - although Im sure thats less than many providers). I hear GBPCHF can be a beast.

What session do you see the most movement? Do they hold up technically? Or is it a mere GBP going up, NZD down, long GBPNZD?
When the facts change I change my mind, what do you do sir
  • #347,307
  • Sep 19, 2013 11:18am Sep 19, 2013 11:18am
Re cable: 20 day atr went down to 65 at back end of last year - it's been as high as 136 this year band as low as 84...currently 96.

G/L

Quoting _BBKing_
{quote} yep! some time ago (few years) it was like this every day... average day range was about 120pips indeed recently i was really trading the gbp nzd + gbp chf!! much better to catch some 80 to 500 pips trades there
ex member
  • #347,308
  • Sep 19, 2013 11:31am Sep 19, 2013 11:31am
I was just trying to target the overshoot area.

Attached Image (click to enlarge)
Click to Enlarge Name: cable.png Size: 20 KB


And the daily chart is also showing a resistance before the 100% retrecement
Attached Image (click to enlarge)
Click to Enlarge Name: cable 2.png Size: 33 KB
  • #347,309
  • Sep 19, 2013 12:06pm Sep 19, 2013 12:06pm
Quoting Pip Anon
{quote} Yes, so I have heard. The FX volatility periods I hear about year a few years prior to me starting. I seen a eurodollar historical volatility chart and I believe the early, mid 200s was 20+% lol I have done EURNZD and was the quickest 70 pips ever lol. I need to ignore the spreads (GBPNZD 6; GBPCHF 4 - although Im sure thats less than many providers). I hear GBPCHF can be a beast. What session do you see the most movement? Do they hold up technically? Or is it a mere GBP going up, NZD down, long GBPNZD?
believe me: 6pips in gbpnzd is just nothing compared to some brokers out there
trading it is not simple because it's a cross instrument so as every cross instrument there are IMO 3 ways:
1. waiting major downtrend in one pair (ex. nzd usd) and correlate it with major uptrend in the other one

-> this happens few times in a year but when happens.... just laugh !

2. watching both pairs deeply and catching some swings

-> example today i got some great pips in eur/gbp, knowing cable was good for some down, while eurusd was flat or eventually even up.

3. forget about the 2 pairs and just trade it purely from technical point of view

-> price action, supply/demand, patterns etc...
90% of traders use TA, indicators and prediction
  • #347,310
  • Sep 19, 2013 12:09pm Sep 19, 2013 12:09pm
Quoting bbmac
Re cable: 20 day atr went down to 65 at back end of last year - it's been as high as 136 this year band as low as 84...currently 96. G/L {quote}
yes this last months were overall good in cable... but i remember 2008-2009 when i started trading, a 200pips move in cable was really not extraordinary! first trades i got was when price was still crashing from 1.68 to 1.36, then the following rise to 1.68 etc...
90% of traders use TA, indicators and prediction
  • #347,311
  • Sep 19, 2013 12:31pm Sep 19, 2013 12:31pm
Quoting Pip Anon
{quote} Do you have any text on harmonics?

I have but can't upload copy righted material but I can direct you a site which has free ebook by one of harmonics experts Scott Carney.
Top left green ebook is free
In trading, you have to be defensive and aggressive at the same time
  • #347,312
  • Sep 19, 2013 12:46pm Sep 19, 2013 12:46pm
GC Harmonically is in sell zone.But please you make your decisions.
AB=CD is common movement which happens quit often.After completion of D price retraces at least 61.8fib
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: gbpcad.weekly.png Size: 53 KB
In trading, you have to be defensive and aggressive at the same time
  • #347,313
  • Sep 19, 2013 1:05pm Sep 19, 2013 1:05pm
Quoting salman14
I was just trying to target the overshoot area. {image} And the daily chart is also showing a resistance before the 100% retrecement {image}

Hi Salmon
I would suggest adding 80 and 20 RSI levels as well.Price often runs out of steam at those levels.Not a trade signal.I only use it as a warning system.
example on recent NU
Attached Image (click to enlarge)
Click to Enlarge Name: nzdusd.daily.png Size: 31 KB
In trading, you have to be defensive and aggressive at the same time
  • #347,314
  • Sep 19, 2013 10:36pm Sep 19, 2013 10:36pm
Here my forecast for GBP/USD

We should go up to 1.6091-1.6107 area than down to 1.58342.

Schickeria!
Attached Image (click to enlarge)
Click to Enlarge Name: GBP USD.png Size: 41 KB
  • #347,315
  • Sep 19, 2013 10:47pm Sep 19, 2013 10:47pm
Quoting Schickeria
Here my forecast for GBP/USD We should go up to 1.6091-1.6107 area than down to 1.58342. Schickeria! {image}
Nice chart. Anyway i am just curious, the lines are fibo or manual horizontal lines you added and renamed them or its your special indicator?

.
  • #347,316
  • Sep 19, 2013 10:58pm Sep 19, 2013 10:58pm
Quoting 5percent
{quote} Nice chart. Anyway i am just curious, the lines are fibo or manual horizontal lines you added and renamed them or its your special indicator? .
Hi 5percent,

that is my own calculation on Fibo.
  • #347,317
  • Sep 20, 2013 1:16am Sep 20, 2013 1:16am
Hi 5percent,
I dont know how do you calculate future........ amazing!!!!
  • #347,318
  • Sep 20, 2013 1:18am Sep 20, 2013 1:18am

  1. sorry..... its for http://assets.forexfactory.net/nfs/c...ar238380_4.gif
  2. Schickeria

  • #347,319
  • Sep 20, 2013 1:34am Sep 20, 2013 1:34am
Attached Image (click to enlarge)
Click to Enlarge Name: GU.png Size: 41 KB
  • #347,320
  • Sep 20, 2013 2:24am Sep 20, 2013 2:24am
Germany election is at the weekend. Will ut impact the price on g/u?
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