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Cable Update (GBPUSD)

  • #347,641
  • Sep 28, 2013 9:41am Sep 28, 2013 9:41am
Quoting umair55
Is there any possiblty that cable come at 1.60900 bcoz i need this point to get out of this pair??? Can anyone guide me?? Or tell me stop loss to close this trade??

honestly we all in the same boat..and the boat has a big hole in it..right now people are jumping like this is the titanic..put the life jacket on a pray to allah

nobody knows..if they did..i dont think they would be in here..hang tight..we are right up on resistance
  • #347,642
  • Sep 28, 2013 10:52am Sep 28, 2013 10:52am
I am stuck in a cable short and think I should cut my losses. The news for next week is such doom and gloom for US. At what point would people get out? I'm in at 1.6093. Please help.
  • #347,643
  • Sep 28, 2013 12:28pm Sep 28, 2013 12:28pm
How is gbpusd ranging other than monthly t/f and even on that there has been recent signs of strength within that range? - it has been trending up and strongly up on successively higher t/f's for some weeks now and even on weekly since it broke the 5751 range hi on that t/f with 2 x HL's and a H below that pointing to that as the greater probability - which indeed played out.

The simple truth is that those who got short too early and added went against the greater probability derived technically or indeed fundamentally and are now sweating it out.

G/L

Quoting A-speculator
{quote} Based on higher tf i think it will.. cable just need some correction.. and that 5500 hold.. who knows maybe we will be in this range longer.. atm just trade the chart, trading in ranging market can be quite tough..
ex member
  • #347,644
  • Sep 28, 2013 1:21pm Sep 28, 2013 1:21pm
Quoting bbmac
How is gbpusd ranging other than monthly t/f and even on that there has been recent signs of strength within that range? - it has been trending up and strongly up on successively higher t/f's for some weeks now and even on weekly since it broke the 5751 range hi on that t/f with 2 x HL's and a H below that pointing to that as the greater probability - which indeed played out. The simple truth is that those who got short too early and added went against the greater probability derived technically or indeed fundamentally and are now sweating it out....
Do not be surprised to see a correction in early October. I would say 70% of chance there is a correction after 2 green monthly bar.
  • #347,645
  • Sep 28, 2013 2:13pm Sep 28, 2013 2:13pm
Quoting bbmac
The simple truth is that those who got short too early and added went against the greater probability derived technically or indeed fundamentally and are now sweating it out. G/L {quote}


They are that BB, me included
Money never sleeps...
  • #347,646
  • Sep 28, 2013 2:27pm Sep 28, 2013 2:27pm
a nice trend may be starting now...leg A on the monthly the technicals are improving.... if a longer trend is in it infancy..a nice longer term target would be around 1.98...all those doji's from 2008

gl
  • #347,647
  • Sep 28, 2013 4:39pm Sep 28, 2013 4:39pm
We've seen corrections/pullbacks all the way up from 4811 low....the most recent deepest pullback being 6162-5954 but in an uptrend the pullbacks get bought and vice versa....so yes if the uptrend continues - it's almost certain that there will be further corrections.

G/L

Quoting mry2001
{quote} Do not be surprised to see a correction in early October. I would say 70% of chance there is a correction after 2 green monthly bar.
ex member
  • #347,648
  • Sep 28, 2013 5:56pm Sep 28, 2013 5:56pm
I'm still a junior trader, but I went long on GBP/USD and will most likely stay in that tend though Monday, however I do suspect there may be a pull back at some point, but fundamentally I been keeping a close eye on the U.S. politics as I'm sure many of you are. As an American I know the republicans hate President Obama and the Health Care reform and will most likely let the government shut down just out of spite. Which I'm guessing will send the greenback tumbling.
  • #347,649
  • Sep 28, 2013 9:14pm Sep 28, 2013 9:14pm
Quoting nAVIN2007
{quote} honestly we all in the same boat..and the boat has a big hole in it..right now people are jumping like this is the titanic..put the life jacket on a pray to allah nobody knows..if they did..i dont think they would be in here..hang tight..we are right up on resistance
Attached Image
Always looking the GREAT, never left GOOD Point...
  • #347,650
  • Sep 29, 2013 3:04am Sep 29, 2013 3:04am
Hey Nav the range continues a ,lol
im thinking yearly would hold up much higher this year ,major res at 1.62xx


Quoting nAVIN2007
{quote} honestly we all in the same boat..and the boat has a big hole in it..right now people are jumping like this is the titanic..put the life jacket on a pray to allah nobody knows..if they did..i dont think they would be in here..hang tight..we are right up on resistance
Attached Image (click to enlarge)
Click to Enlarge Name: 1-yearly cable.png Size: 20 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #347,651
  • Sep 29, 2013 3:10am Sep 29, 2013 3:10am
failure for up top of range before ,
usdx range but around 80



Quoting Bones
usdx monthly ,cable hammer d1 {image}
Attached Image (click to enlarge)
Click to Enlarge Name: usdxmonthly 29 sept.png Size: 44 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #347,652
  • Sep 29, 2013 3:49am Sep 29, 2013 3:49am
Quoting Bones
Hey Nav the range continues a ,lol im thinking yearly would hold up much higher this year ,major res at 1.62xx {quote} {image}

YES bro..thanks god u seeing same thing..that yearly is still a bear, assuming we dont turn bullish this year..bad thing is it might not hold.

thanks for charts..post more plz

who would have thought after breaking the low of the doji 2 years back the mofo found find a way to break 1.6?? crazy trap (im honestly looking for it to not make a new high..otherwise im gonna get nervous)

also gbp index isnt looking great? ..what yur view on that tone?
Attached Image(s) (click to enlarge)
Click to Enlarge Name: usdlfxmonthly.png Size: 71 KB
Click to Enlarge Name: gbplfxmonthly.png Size: 55 KB
Click to Enlarge Name: gbpusdmonthly.png Size: 55 KB
  • #347,653
  • Sep 29, 2013 4:51am Sep 29, 2013 4:51am
a view
Attached Image (click to enlarge)
Click to Enlarge Name: 2.png Size: 32 KB
Wherever you go, there you are.
  • #347,654
  • Sep 29, 2013 5:01am Sep 29, 2013 5:01am
Quoting bbmac
The Weekly candle closes bullishly (hammer esq) with a pip range of only 67% of it's 20 week atr. No fractal swing created by the close of the weekly candle and no new trend hi as it closes inside the previous weekly candle. This t/f remains in a classic opa uptrend with 2 x HL's a H and HH at last week's hi - as price has gone north off the recent 4811 low. 100sma remains below the 200sma on this t/f with price closing above both. The Daily candle closes as a bullish thrust and bullishly engulfs the previous daily candle (thursday's) body. Last...
Nice.....

Bulls now want to buy lower...
Wherever you go, there you are.
  • #347,655
  • Sep 29, 2013 6:29am Sep 29, 2013 6:29am
Quoting bbmac
How is gbpusd ranging other than monthly t/f and even on that there has been recent signs of strength within that range? - it has been trending up and strongly up on successively higher t/f's for some weeks now and even on weekly since it broke the 5751 range hi on that t/f with 2 x HL's and a H below that pointing to that as the greater probability - which indeed played out. The simple truth is that those who got short too early and added went against the greater probability derived technically or indeed fundamentally and are now sweating it out....
yes sir, i am indeed talking about the 44xx-67xx range.. if cable break the 6300, next i think it would be 67xx than 73xx (cluster resistance) imho.. might need some time to get there and yes, i agree on shorter tf (lower than monthly) we are currently seeing strength and i am bullish.. but to reach higher level, i think price will make some correction.. i'm thinking price will make a retest of 6000 first, lower level is at about 57xx, lowest level but still maintaining bullish view is 55xx level.. imho, if price reached lower level than 55xx will trigger mid-term bearish view technically.
  • #347,656
  • Sep 29, 2013 6:51am Sep 29, 2013 6:51am
Quoting nAVIN2007
{quote} honestly we all in the same boat..and the boat has a big hole in it..right now people are jumping like this is the titanic..put the life jacket on a pray to allah nobody knows..if they did..i dont think they would be in here..hang tight..we are right up on resistance

Naveen u holding a long or short now? since what price? I see you held positions for long time
  • #347,657
  • Sep 29, 2013 7:24am Sep 29, 2013 7:24am
Should be some respite coming for shorts in the immediate short-term, I would imagine, but how much, nobody knows. After all, "they" know that many are short here, and "they" know the UK economy continues to strengthen. It's not beyond the realms of possibility though that we reach down to the bottom of last week's action during the next week.
The current thinking is (supposedly) that the UK might be the first to start tightening, despite all the jawboning from Carney. Now from that statement many possibilities flow:
1. the current thinking actually is not that the UK might be the first to start tightening i.e. this is just BS put out to scare the shorts into closing. This is entirely possible.
2. the current thinking actually IS that the UK might be the first to start tightening.

If (2) then there are 2 further possibilities:
2.1: the UK WILL be the first to start tightening
2.2: the UK WILL NOT be the first to start tightening

You've got to place your bets accordingly. But be mindful that if 2.1 comes to pass, this could go much higher from here. However, a caveat to even that: the tightening might come in 3, 6 or even 12 months. God only knows.

I personally have no clue but the way things are looking, the US is not going to taper until maybe the end of the year, at the earliest. Certainly they'll have to get this godawful debt rubbish mess sorted out before they even consider tapering.
I have no clue what I'm talking about.
  • #347,658
  • Sep 29, 2013 7:27am Sep 29, 2013 7:27am
Quoting Boy Wonder
Should be some respite coming for shorts in the immediate short-term, I would imagine, but how much, nobody knows. After all, "they" know that many are short here, and "they" know the UK economy continues to strengthen. It's not beyond the realms of possibility though that we reach down to the bottom of last week's action during the next week. The current thinking is (supposedly) that the UK might be the first to start tightening, despite all the jawboning from Carney. Now from that statement many possibilities flow: 1. the current thinking...

Honestly, I'm more confused now than I was last week
lol....
Just kidding
Come with me if you want to live....
  • #347,659
  • Sep 29, 2013 8:49am Sep 29, 2013 8:49am
Quoting Ill-b-back
{quote} Honestly, I'm more confused now than I was last week lol.... Just kidding
Sorry
Seriously, there are so many possibilities, so many trajectories, and that's just for one side of the cross (GBP).
I have no clue what I'm talking about.
  • #347,660
  • Sep 29, 2013 11:19am Sep 29, 2013 11:19am
i be back trading gbp/usd pair as well as other pairs depends if my new system gives me a signal
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