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Cable Update (GBPUSD)

  • #347,661
  • Sep 29, 2013 11:20am Sep 29, 2013 11:20am
Quoting Ill-b-back
{quote} {image}
  • #347,662
  • Sep 29, 2013 11:57am Sep 29, 2013 11:57am
Quoting bbmac
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 {quote}
I am hoping a double top @ 1.6150.
On the other side, my system set a buy limit @1.59
  • #347,663
  • Sep 29, 2013 12:00pm Sep 29, 2013 12:00pm
On the weekly chart, it looks like a downward channel to me.
  • #347,664
  • Sep 29, 2013 12:00pm Sep 29, 2013 12:00pm
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 33 KB
-milkeyway
  • #347,665
  • Sep 29, 2013 12:18pm Sep 29, 2013 12:18pm
@kumaramy,

Brilliant chart! Simple and clean! There are other possibilities as shown in my additions to your charts. However the most important thing is to follow 1 weekly candle at a time and you will never miss your way.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPY - other Posibilities.jpg Size: 51 KB
  • #347,666
  • Sep 29, 2013 12:49pm Sep 29, 2013 12:49pm
Quoting Articulate
@kumaramy, Brilliant chart! Simple and clean! There are other possibilities as shown in my additions to your charts. However the most important thing is to follow 1 weekly candle at a time and you will never miss your way. {image}
@Articulate : Agree. But on IF condition. If I am not wrong, the condition is :

IF
it breaks Lime trendline (as resistance). The rate can touch to Red horizontal line. And through previous breakouts at red horizontal line can send it back to Lime/DeepSkyBlue lines (as support).

ELSE
post #347670 takes effect.

If you liked my template see this=> http://www.forexfactory.com/showthread.php?t=449907
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot3.png Size: 31 KB
-milkeyway
  • #347,667
  • Sep 29, 2013 1:01pm Sep 29, 2013 1:01pm
Quoting kumaramy
{image}
Beautiful Chart.
  • #347,668
  • Sep 29, 2013 2:45pm Sep 29, 2013 2:45pm
Monthly ,cable has done very well but has not moved from overall range ,id be amazed to see it do that ,would leave a very odd yearly
Attached Image (click to enlarge)
Click to Enlarge Name: gbp usd monthly 29-9-13.png Size: 39 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #347,669
  • Sep 29, 2013 3:30pm Sep 29, 2013 3:30pm
Gbp has been bullish ,not sure where it will stop ,but I do think $ could find support


Quoting nAVIN2007
{quote} 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? {image} {image} {image}
Attached Image (click to enlarge)
Click to Enlarge Name: gbplfxweekly 29-9-13.png Size: 37 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #347,670
  • Sep 29, 2013 4:19pm Sep 29, 2013 4:19pm
Quoting Bones
Gbp has been bullish ,not sure where it will stop ,but I do think $ could find support {quote} {image}

are u long or short?
  • #347,671
  • Sep 29, 2013 4:30pm Sep 29, 2013 4:30pm
Quoting nAVIN2007
{quote} are u long or short?
hi mate,

let's hope cable to retrace back to about 57xx area in 1-2 weeks time so we can find long opportunity there.. fiber seems has shown some hints of heading lower..
  • #347,672
  • Sep 29, 2013 4:42pm Sep 29, 2013 4:42pm
Hi Navin and others
Its interesting that posts are becoming ever more dramatic break of 68 73 etc.
Its important to stick to your trading and ignore dramatic posts.I remember when Kiwi was at 77 just about everyone was pointing at 74 and below which never came and same with Aussie predicting 80, again never came despite what Goldman Sachs and other pinheads were saying.
Its natural to overreact but lets keep our heads clear from clutter.
I closed 2 shorts with a loss so I can add at higher better numbers.I have limits at 62.
In trading, you have to be defensive and aggressive at the same time
  • #347,673
  • Sep 29, 2013 4:57pm Sep 29, 2013 4:57pm
Quoting Davit
Hi Navin and others Its interesting that posts are becoming ever more dramatic break of 68 73 etc. Its important to stick to your trading and ignore dramatic posts.I remember when Kiwi was at 77 just about everyone was pointing at 74 and below which never came and same with Aussie predicting 80, again never came despite what Goldman Sachs and other pinheads were saying. Its natural to overreact but lets keep our heads clear from clutter. I closed 2 shorts with a loss so I can add at higher better numbers.I have limits at 62.
i'm not sure cable will manage to get that far (6200).. but who knows right?...
  • #347,674
  • Sep 29, 2013 5:09pm Sep 29, 2013 5:09pm
Quoting A-speculator
{quote} i'm not sure cable will manage to get that far (6200).. but who knows right?...

Most likely key number for turning around 62 supported by harmonics
http://www.forexfactory.com/attachme...5&d=1380306808
In trading, you have to be defensive and aggressive at the same time
  • #347,675
  • Sep 29, 2013 5:11pm Sep 29, 2013 5:11pm
Quoting Davit
{quote} Most likely key number for turning around 62 supported by harmonics
actually i'm looking around 6150..
  • #347,676
  • Sep 29, 2013 5:18pm Sep 29, 2013 5:18pm
checkout EG at critical junction 8350
200MA (green line)all important floating S/R on weekly.If broken bias on weekly becomes bear.
Attached Image (click to enlarge)
Click to Enlarge Name: eurgbp.weekly.png Size: 30 KB
In trading, you have to be defensive and aggressive at the same time
  • #347,677
  • Sep 29, 2013 5:20pm Sep 29, 2013 5:20pm
Quoting Davit
checkout EG at critical junction 8350 200MA (green line)all important floating S/R on weekly.If broken bias on weekly becomes bear. {image}
i think that pair is definitely bearish.. due to double top it's forming from your chart..
  • #347,678
  • Sep 29, 2013 5:36pm Sep 29, 2013 5:36pm
Quoting A-speculator
{quote} i think that pair is definitely bearish.. due to double top it's forming from your chart..

Its little more then that.
If Pound continues to dominate greenbacks I anticipate same dominance over Euro.As soon as you see weakness on cable anticipate bull moves on EG
Its just a correlation
In trading, you have to be defensive and aggressive at the same time
  • #347,679
  • Sep 29, 2013 5:39pm Sep 29, 2013 5:39pm
My view on this pair is wait more up and sell
  • #347,680
  • Sep 29, 2013 5:42pm Sep 29, 2013 5:42pm
Quoting Davit
{quote} Its little more then that. If Pound continues to dominate greenbacks I anticipate same dominance over Euro.As soon as you see weakness on cable anticipate bull moves on EG Its just a correlation
right mate.. seems like now cable has moved more than 6150.. cleared my short and will wait for other opportunity.. atm i will be focusing on fiber and swissy..
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