Cable Update (GBPUSD) | Page 17551 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

GBP/USD

Similar Threads

Cable Update - Continued 118 replies

Cable Update (GBP/USD) without Idiots 25 replies

cable short for gbpusd? 10 replies

Why is GBPUSD called cable? 76 replies

Cable (GBPUSD) vs Euro (EURUSD) 31 replies

Attachments: Cable Update (GBPUSD)
Exit Attachments

Cable Update (GBPUSD)

  • #351,001
  • Oct 29, 2013 4:22am Oct 29, 2013 4:22am
Quoting nAVIN2007
{quote} the movements in forex dont bother me at all ..yes its a funny one but with time u will get to read way in advance and actually expect it to do the things it does..1.5950 monthly close im looking for/ or at least near there somewhere its just being patient which doesnt come to easy for me, anyways cheers..lets get lucky
Just be patient my friend
New voice message: Why are you calling me? If I need you, I'll call you!
  • #351,002
  • Oct 29, 2013 4:27am Oct 29, 2013 4:27am
Quoting Pumpndump
\"the movements in forex dont bother me at all\" There ya go you listed one of my most important attributes to a forex winner i got too tricky and over played the range until fomc and i would stake good wedge others with a decent idea of prices got caught too. 1.595 would be excellent, but if you dont mind, I'd like to get on this a bit higher up the ladder, at least where i dropped it hopefully! Cheers

i dont think we will see 1.62 for a long time..might not see it next year..i expect a lot of downward pressure but monthly needs to close below 1.5970 at least..

any lower we need to wait

Quoting KillerWhale
{quote} Just be patient my friend

thx brother
Quoting negrada
{quote} if we close the month of october at 1.5950 we would actually be at very bearish territory and this thing would probably just continue dropping for some time over the first few days of november...
now we reading from the same page
  • #351,003
  • Oct 29, 2013 4:29am Oct 29, 2013 4:29am
Quoting okanemici
{quote} {quote} {quote} Told ya x 3 . Now who is buying me a pack of beers ???
If you made good pippage on your own calls, then I think it is you who has to by us the beers
Those who say it cannot be done should not interrupt those who are doing it
  • #351,004
  • Oct 29, 2013 4:29am Oct 29, 2013 4:29am
Quoting JimmyC
yes {image}
Those who say it cannot be done should not interrupt those who are doing it
  • #351,005
  • Edited 5:42am Oct 29, 2013 4:31am | Edited 5:42am
Quoting Davit
{quote} Hi Bikov To be honest just delete CCI from your charts or any other indicator which shows OB/OS There is no statistical edge having that on your charts. I trade differently.To me GC should be 1.60-1.59 and GU 1.53 and that's my targets. I am looking at 1.60 as TP but depends if price goes in a range I may take profit and go short again. Regards

I agree that overbought or oversold conditions could last much longer than we expect but when I found such extreme levels I can't ignore that, although its just a tool for confirmation, I'm not making a decision based only on CCI. Fundamental analyses is more important to me than oscillators. From TA I use trend lines + ichimoku + candlestick formation, indicators like CCI and MACD just for confirmation or better entry. Thanks for the answer, I'm bearish on cable and GC chart also looks pretty bad for the pound and must admit that I wouldn't notice GC if there wasn't a chart posted from you.
"The secret of politics? Make a good treaty with Russia." Otto von Bismarck
  • #351,006
  • Oct 29, 2013 4:33am Oct 29, 2013 4:33am
It would be so great to see cable pullback to 1.6150 by NY so I can short again
  • #351,007
  • Oct 29, 2013 4:34am Oct 29, 2013 4:34am
Quoting bikov
{quote} I agree that overbought or oversold conditions could last much longer than we expect but when I found such extreme levels I can't ignore that, although its just a tool for confirmation, I'm not making a decision based only on CCI. Fundamental analyses is more important to me than oscillators. From TA I use trend lines + ichimoku + candlestick formation, indicators like CCI and MACD just for confirmation or better entry. Thanks for the answer, I'm bearish on cable and GC chart also looks pretty bad for the pound.
IMO a CCI(14) reading of over 100 (or under -100) is a good signal to execute a stop in the direction of the CCI and take profit at the next significant level. Normally when the 100 level is breached for the first time in the swing, there's a lot more move left. Just back test the concept and you will see what I mean.
Those who say it cannot be done should not interrupt those who are doing it
  • #351,008
  • Oct 29, 2013 4:35am Oct 29, 2013 4:35am
Quoting nAVIN2007
{quote} i dont think we will see 1.62 for a long time..might not see it next year..i expect a lot of downward pressure but monthly needs to close below 1.5970 at least.. any lower we need to wait {quote} thx brother {quote} now we reading from the same page

162 would be greedy, I would take 161.6 where i dropped them off yesterday
  • #351,009
  • Oct 29, 2013 4:36am Oct 29, 2013 4:36am
Quoting okanemici
It would be so great to see cable pullback to 1.6150 by NY so I can short again
Not gonna happen
New voice message: Why are you calling me? If I need you, I'll call you!
  • #351,010
  • Oct 29, 2013 4:37am Oct 29, 2013 4:37am
Quoting PipTrapper
{quote} So that it can disappoint and drive the rate lower.
  • #351,011
  • Oct 29, 2013 4:39am Oct 29, 2013 4:39am
Quoting Pumpndump
{quote} 162 would be greedy, I would take 161.6 where i dropped them off yesterday
I think even 6130 would be wishful thinking right now. Maybe after FOMC we will see higher, but not for now. Just my opinion of course.
Those who say it cannot be done should not interrupt those who are doing it
  • #351,012
  • Oct 29, 2013 4:41am Oct 29, 2013 4:41am
Quoting PipTrapper
{quote} I think even 6130 would be wishful thinking right now. Maybe after FOMC we will see higher, but not for now. Just my opinion of course.
Lol I have stops @ 1.6130
New voice message: Why are you calling me? If I need you, I'll call you!
  • #351,013
  • Oct 29, 2013 4:43am Oct 29, 2013 4:43am
Quoting KillerWhale
{quote} I don't think that people who even look at the 1 minute chart are real serious traders, You start with the 15 minute chart, then go up to 1 hr, 2 hr, 4 hr and daily. That's were you make profits.
I'm sure part of what you say there is true but i have to disagree about the 1m and 5m TF. You can see just as much in those as in daily/weekly - just different TF (apologies for stating the obvious). Tighter stops = bigger lots on a % risk basis.
If you can scope a weekly trade and get in with a 1 or 5 min entry, you have a huge RR potential.

i watch price fade into a level i like on 1 or 5 mins TF and can (and do) trade from there. I know plenty others who do to.

Price action on any TF works.
  • #351,014
  • Oct 29, 2013 4:43am Oct 29, 2013 4:43am
Quoting KillerWhale
{quote} Lol I have stops @ 1.6130
Those who say it cannot be done should not interrupt those who are doing it
  • #351,015
  • Oct 29, 2013 4:46am Oct 29, 2013 4:46am
If the H/S plays out the way it should, target should be 1.5970 area. (1.6000 offers strong support)
Those who say it cannot be done should not interrupt those who are doing it
  • #351,016
  • Oct 29, 2013 4:47am Oct 29, 2013 4:47am
Quoting PipTrapper
{quote} IMO a CCI(14) reading of over 100 (or under -100) is a good signal to execute a stop in the direction of the CCI and take profit at the next significant level. Normally when the 100 level is breached for the first time in the swing, there's a lot more move left. Just back test the concept and you will see what I mean.

agree, although I use cci34 , doesn't have much noise here. it stays like a heritage from a strategy that I used some time ago ( cci34 + sma34).
"The secret of politics? Make a good treaty with Russia." Otto von Bismarck
  • #351,017
  • Oct 29, 2013 4:49am Oct 29, 2013 4:49am
Quoting bikov
{quote} agree, although I use cci34 , doesn't have much noise here. it stays like a heritage from a strategy that I used some time ago ( cci34 + sma34).
Yes, I've tried that too. Quite good results, but you may want to add a MacD indicator to that also.
Those who say it cannot be done should not interrupt those who are doing it
  • #351,018
  • Oct 29, 2013 4:49am Oct 29, 2013 4:49am
knee-jerk upside reaction on Uk lending data...move up had started from 1st test of zone to today's current 6064 daily lo....signs of accum on 5min before that ?...will this spark a recovery/rally now or will the 1hr downtrend continue after just a pullback ?...1hr may close as a hammer engulfing ? - 10 mins to go.

G/L
ex member
  • #351,019
  • Oct 29, 2013 4:49am Oct 29, 2013 4:49am
Quoting Mpt
{quote} No, below 156.4/5 was sell. 157.7 had zero relevance

Actually you are both wrong. 157.75 was current (daily) dynamic pivot. I am not sharing my chart that i use for statistical arbitrage, but it actually is an important level.
  • #351,020
  • Oct 29, 2013 4:53am Oct 29, 2013 4:53am
Quoting IndigoPingvi
{quote} Actually you are both wrong. 157.75 was current (daily) dynamic pivot. I am not sharing my chart that i use for statistical arbitrage, but it actually is an important level.
No, at that time, both the 4hr and daily gann were below 157.7. When it broke 154.4 (daily) it confirmed. Until that time, it could still have had another move to about 158.5.

But, frankly, who really cares?/
354 traders viewing now