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Cable Update (GBPUSD)

  • #349,121
  • Oct 17, 2013 4:01am Oct 17, 2013 4:01am
Cable is rangebound as hell. After US data today things might get clearer. My trading summary of the week: Short at 1.6005, additional short at 1.6030, bought back half of total position at 1.5905 and still sitting on the original short. Keeping a slightly bearish view but changing more and more to a neutral view.
  • #349,122
  • Oct 17, 2013 4:02am Oct 17, 2013 4:02am
bloody hell yesterday's mofo short squeeze below 1.5900 stopped me out by 1/3 of a farking pip. otherwise i'd be so bloody rich rite nw...
  • #349,123
  • Oct 17, 2013 4:02am Oct 17, 2013 4:02am
Quoting harve
{quote} Becareful, after this maybe next super large move downward
how you can be so sure about that ...
  • #349,124
  • Oct 17, 2013 4:04am Oct 17, 2013 4:04am
this is flying but its all about getting every single retailer long before the market decides to then take your money. My bias is still short.
  • #349,125
  • Oct 17, 2013 4:05am Oct 17, 2013 4:05am
speak for yourself - it is obvious what is happening - from a technical point of view the bounce up from yesterday's 5893 low was maintained during Asian session and strongly into early London session - ie there were more buyers than sellers as reflected in price action and price went up...it's that simple - fundamentally today - price is reacting to China downgrade of U.s sovereign debt and ongoing fears re U.s generally re fiscal position and likelihood of more QE. Uk data also came out better than expected.

G/L

Quoting polbanda
Cable totally fucked up. Almost nobody knows what is happening. We have to wait now for today US data. Soon we will be at last week highs. Lose my mind. Still have to wait.
ex member
  • #349,126
  • Oct 17, 2013 4:08am Oct 17, 2013 4:08am
Quoting Tsar
{quote} He's confident with that's Points... Price 1.5991 as Calculation 4/8 Octave in Murrey Math. And Price 1.5979 as Pivot Point Fibo's. NOTICE : Candles in background as H4 Candles. {image}
Cable in H1 Chart...

MORE than that's Point
Attached Image (click to enlarge)
Click to Enlarge Name: 2013-10-17_Cable in H1 Chart - MML & Candles.jpg Size: 442 KB
Always looking the GREAT, never left GOOD Point...
  • #349,127
  • Oct 17, 2013 4:17am Oct 17, 2013 4:17am
Quoting Tsar
{quote} Cable in H1 Chart... MORE than that's Point {image}
Hi,

Where can i find the indicator you use that shows that pivot points?
If you can share it... thanks in advance!
  • #349,128
  • Oct 17, 2013 4:24am Oct 17, 2013 4:24am
This 15 minutes is cruture, if not new high, I have to close the trade.
Face both Win and Lose bravely
  • #349,129
  • Oct 17, 2013 4:26am Oct 17, 2013 4:26am
Quoting Cowboy11
This 15 minutes is cruture, if not new high, I have to close the trade.
why?
  • #349,130
  • Oct 17, 2013 4:30am Oct 17, 2013 4:30am
Quoting bbmac
speak for yourself - it is obvious what is happening - from a technical point of view the bounce up from yesterday's 5893 low was maintained during Asian session and strongly into early London session - ie there were more buyers than sellers as reflected in price action and price went up...it's that simple - fundamentally today - price is reacting to China downgrade of U.s sovereign debt and ongoing fears re U.s generally re fiscal position and likelihood of more QE. Uk data also came out better than expected. G/L {quote}
:-) +1. it's obvious from.ytd. 1.5910 held. As price was false break.
  • #349,131
  • Oct 17, 2013 4:30am Oct 17, 2013 4:30am
I have no ' axe to grind ' here - I am flat now - but longer term bears must again be worrying (?) as price has reached and exceeded the 50% fib of the 6259-5913 pullback in the daily/weekly opa uptrend. Technically there was the bullish regular divergence pattern at yesterday's 5893 low along with a pattern of accumulation - on 4hr (buying points circled) Then today the immediate fundies lined up with the technical and a strong upside move resulted to this point - will it continue to the upside ? - no idea and nor does anyone else have as none of us can see into the future - all we have is the greater probability if we can determine it from our individual analysis.

G/L
Attached Image (click to enlarge)
Click to Enlarge Name: z.jpg Size: 116 KB
ex member
  • #349,132
  • Oct 17, 2013 4:32am Oct 17, 2013 4:32am
Quoting nbelchior
{quote} Hi, Where can i find the indicator you use that shows that pivot points? If you can share it... thanks in advance!
Murrey Math indi

http://www.forexfactory.com/showthread.php?p=131195
  • #349,133
  • Oct 17, 2013 4:33am Oct 17, 2013 4:33am
Quoting Tsar
{quote} Cable in H1 Chart... MORE than that's Point {image}
could you send me that murrey maths? my indicator have different levels
  • #349,134
  • Oct 17, 2013 4:33am Oct 17, 2013 4:33am
Quoting rokokdaun
{quote} how you can be so sure about that ...
I'm not 100% sure, but after see this wave, i must think again last candle realy uptrend or just swing down again??
Attached Image
even better than mama
  • #349,135
  • Oct 17, 2013 4:34am Oct 17, 2013 4:34am
Quoting 5percent
{quote} :-) +1. it's obvious from.ytd. 1.5910 held. As price was false break.

it is never obvious..
  • #349,136
  • Oct 17, 2013 4:35am Oct 17, 2013 4:35am
Closed, enough lah. Enter again after correction.
Face both Win and Lose bravely
  • #349,137
  • Oct 17, 2013 4:36am Oct 17, 2013 4:36am
Quoting pcca-matrix
{quote} Murrey Math indi http://www.forexfactory.com/showthread.php?p=131195

Thanks
  • #349,138
  • Oct 17, 2013 4:41am Oct 17, 2013 4:41am
Quoting 5percent
Wed Asia lo. Now minor r1. Above can see short covered out again 1.59 still firm .daily did not close under. Gbp got slammed by headlines twice from.it's rally this week retails sales key trigger now. key resistance zone 1.6018-1.6045/61 neutral zone 1.5970-1.6018 now. bearish s t r zone below 1.5960.
Daily didn't Close under 1.5910. Pa don't hav. S t r, early retracement faced minor r1 earlier at wed Asia lo but quickly reclaimed. Pa didn't have s t r on Europe lo 1.6018 as well b4 news. Gbp has been moving earlie. B4 data for a few time. Already.
  • #349,139
  • Oct 17, 2013 4:45am Oct 17, 2013 4:45am
fundies never lie. with 3 consec days of good brit news and debt ceiling debacle over, some of u snake oil drinking technicians are still expecting a 'super large move downward'? remember to every technical analysis u think is watertight and solid, there'll be another analysis or indicator out there that will equally convincingly debunk u...

major specs and big boys determine direction based on how healthy a country's economy which directly influence interest rates with then directly influences their return on investment. They don't undertake trades based on the dickhead they see jutting out from 2 balls on their charts.
  • #349,140
  • Oct 17, 2013 4:49am Oct 17, 2013 4:49am
Minimum correction cycle, turn to 5m chart, Wait for completion of ABC cycle. If fail, turn to 15m chart and do the same.
Face both Win and Lose bravely
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