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Cable Update (GBPUSD)

  • #349,041
  • Oct 16, 2013 11:15am Oct 16, 2013 11:15am
Cutting short from 1.61 now + 200 pips. original target was 1.5880 but it does not hurt to take profit
  • #349,042
  • Oct 16, 2013 11:21am Oct 16, 2013 11:21am
I start buy GBP/USD 1.5840
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdh1.png Size: 54 KB
  • #349,043
  • Oct 16, 2013 11:46am Oct 16, 2013 11:46am
Cable in Daily Chart...

Cable UP and DOWN in third times...

Still posible UPward again
Attached Image (click to enlarge)
Click to Enlarge Name: 2013-10-16_Cable in Daily Chart - Double Fibo Fan.jpg Size: 396 KB
Always looking the GREAT, never left GOOD Point...
  • #349,044
  • Edited 1:23pm Oct 16, 2013 12:06pm | Edited 1:23pm
http://www.forexfactory.com/showthre...51#post7028651

Though a ranging day but many pairs of interest doing well at this day end except audusd, eurjpy ,usdjpy & gold ( after broken 1281 , 1300 a very likely test there before actual down there, 1290.05 another bar or limit for for down also , ok to wait start also there weekend .gbpaud doing great! nearest min target of the swing 6492 ,though 6139 as real target first swing !!
carry out as usual.
fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #349,045
  • Oct 16, 2013 12:25pm Oct 16, 2013 12:25pm
Cable in H4 Chart...

Touch in DEMAND Area
Attached Image (click to enlarge)
Click to Enlarge Name: 2013-10-16_Cable in H4 Chart - Double Fibo Fan.jpg Size: 413 KB
Always looking the GREAT, never left GOOD Point...
  • #349,046
  • Oct 16, 2013 1:07pm Oct 16, 2013 1:07pm
Short from 1.5960
New voice message: Why are you calling me? If I need you, I'll call you!
  • #349,047
  • Oct 16, 2013 1:12pm Oct 16, 2013 1:12pm
im having a great week, we know the real price is around 1.60, iv been going long when it hit 1.5920 - 1.5930 its been there twice over the past two days there and iv taken 100 pips on 2 trades. so easy to analyse as long as you hold your position until the TP, when ever it hit 1.59 area buy for 40 - 50 pips and when it goes near 1.61 sell for 20 - 50 pips just depends on the size of your balls
  • #349,048
  • Oct 16, 2013 1:39pm Oct 16, 2013 1:39pm
[highlight=rgba(255, 255, 255, 0)]Thanks god I wasn't trading today! Had to take a day off to celebrate "Eid", I see PA has acted crazily today ​[/highlight]
  • #349,049
  • Oct 16, 2013 1:51pm Oct 16, 2013 1:51pm
I thought when it broke through the base earlier the range would be broken. Choppy pa.
  • #349,050
  • Oct 16, 2013 2:01pm Oct 16, 2013 2:01pm
Quoting Enzough
I thought when it broke through the base earlier the range would be broken. Choppy pa.
The range IS broken. 4 hr resistance is around 1.5970 now
New voice message: Why are you calling me? If I need you, I'll call you!
  • #349,051
  • Oct 16, 2013 2:08pm Oct 16, 2013 2:08pm
I just don't know what the guys that buy at 1.606 or sell are 1.591 are thinking. Until some real news come in, we have no way out of this range.
  • #349,052
  • Oct 16, 2013 2:16pm Oct 16, 2013 2:16pm
Quoting negrada
I just don't know what the guys that buy at 1.606 or sell are 1.591 are thinking. Until some real news come in, we have no way out of this range.


I think this is the classic range vs breakout method. The guys doing the opposite of this look like geniuses until 1.5900 breaks and 1.5700 trades 2 days later and break out traders have on a massive positon from 1.5897 or so.

All the false breaks losses are likely made back and far more profits are banked if the trend runs.
Twitter: @TrendersGame
  • #349,053
  • Oct 16, 2013 2:19pm Oct 16, 2013 2:19pm
As my previous post 200 ema is at 1.5920, price touched and retraced three times. Apparently a lot of people are watching this average in the 4hr chart to see if it closes below. On weekly is at 1.5949 sitting right on it. Hope it closes below on friday
  • #349,054
  • Oct 16, 2013 2:25pm Oct 16, 2013 2:25pm
Quoting Citiboy
I think this is the classic range vs breakout method. The guys doing the opposite of this look like geniuses until 1.5900 breaks and 1.5700 trades 2 days later and break out traders have on a massive positon from 1.5897 or so. All the false breaks losses are likely made back and far more profits are banked if the trend runs.

But it won't move from 1.59 to 1.57 just for the sake of moving. A real breakout doesn't happen just for the sake of it. If the fundamentals do not justify, then is not a breakout it is just a fakeout.
  • #349,055
  • Oct 16, 2013 2:34pm Oct 16, 2013 2:34pm
Quoting negrada
{quote} But it won't move from 1.59 to 1.57 just for the sake of moving. A real breakout doesn't happen just for the sake of it. If the fundamentals do not justify, then is not a breakout it is just a fakeout.
The fundamentals matter less than you would think in this case. The big money is driven by systematic trading, which equates to large buying or selling simply for the sake of momentum. Usually the markets move first then the fundamental picture develops to explain the move.
Twitter: @TrendersGame
  • #349,056
  • Oct 16, 2013 2:35pm Oct 16, 2013 2:35pm
Quoting negrada
{quote} But it won't move from 1.59 to 1.57 just for the sake of moving. A real breakout doesn't happen just for the sake of it. If the fundamentals do not justify, then is not a breakout it is just a fakeout.
there are always fluctuations in the market so a breakout can happen anytime, why do you need fundamentals to justify ever single breakout? 1 min chart 5 min chart all the way to daily chat can break out just because of the fluctuations. if the uk economy was doing really well it doesnt mean price would be unable to break out to the downside. if you're talking about a breakout from a range held in a monthly time frame then maybe it will take some serious news to cause a breakout on either sides.
  • #349,057
  • Oct 16, 2013 2:36pm Oct 16, 2013 2:36pm
Quoting KillerWhale
{quote} The range IS broken. 4 hr resistance is around 1.5970 now
I hope so...seems to all be dependent on what happens with $.
  • #349,058
  • Oct 16, 2013 2:38pm Oct 16, 2013 2:38pm
Quoting Citiboy
The fundamentals matter less than you would think in this case. The big money is driven by systematic trading, which equates to large buying or selling simply for the sake of momentum. Usually the markets move first then the fundamental picture develops to explain the move.

If the big money is driven by just a bunch of robots doing it just for the sake of momentum with no regards to fundamentals whatsoever, then why didn't they think there was a big momentum when jumping off a cliff from 1.606 to 1.589 in the space of a few hours?
  • #349,059
  • Oct 16, 2013 2:48pm Oct 16, 2013 2:48pm
Pardon the newbie question, but....

If England is doing well, then the pair GBPUSD will move up and if USA is doing better economically, then GBPUSD will move down, yes?

Obviously it's not as clear cut as that, but generally speaking.
  • #349,060
  • Oct 16, 2013 2:57pm Oct 16, 2013 2:57pm
Quoting Baggi
Pardon the newbie question, but.... If England is doing well, then the pair GBPUSD will move up and if USA is doing better economically, then GBPUSD will move down, yes? Obviously it's not as clear cut as that, but generally speaking.
generally yes, in the long term. maybe you can look at the monthly chart in a couple of years time to see such a shift in sentiment
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