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Cable Update (GBPUSD)

  • #352,101
  • Nov 6, 2013 11:37am Nov 6, 2013 11:37am
Quoting PipTrapper
{quote} Good call Luther, but yeah... stuck in the mud now. Speaking of stuck in the mud, {image}
I was going to (but I won't)

Do a fib retrace over your pic and put an arrow in @50% (placing a caption) saying "wish I was here"
-> then I realised I might be "Temporarily Suspended By A Senior Member

So I didn't

G/L

G/N
  • #352,102
  • Nov 6, 2013 11:38am Nov 6, 2013 11:38am
I was waiting for a setup to form in GU, and finally today it happened. GU changed to the downside last week after my weekly analysis pointed me to the down side with established Fibo levels you will notice on the screenshot. After a break of a trendline in the 1hr chart at 9:00CT, I quickly calculated some TP levels out of a fibo arbitrage method I use and the green lines that u see are the levels, the gray ones are weekly levels of support. I would love if GU just goes straight down to 1.5918, but since I don't know then I will be taking profit on the break of this green levels I expect some support on the .618 level at 1.6055, 100% at 1.6041, 138.2% at 1.6026 and finally at 2.236% at 1.5994, or just shoot up and hit my stop loss a little bit above 1.6118.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 195 KB
  • #352,103
  • Nov 6, 2013 11:39am Nov 6, 2013 11:39am
Quoting PipTrapper
{quote} Good call Luther, but yeah... stuck in the mud now. Speaking of stuck in the mud, {image}

Cheers.

Yeah, sometimes being stuck in the mud isn't all that bad. You just need to set your trading room up properly to get through the rough patches.

Panther style...
Attached Image
  • #352,104
  • Nov 6, 2013 11:40am Nov 6, 2013 11:40am
Quoting JimmyC
{quote} I enjoy holidaying in Mozambique! My picture! My inspiration, my happy place! {image}
Nice.
Those who say it cannot be done should not interrupt those who are doing it
  • #352,105
  • Nov 6, 2013 11:41am Nov 6, 2013 11:41am
Quoting JimmyC
{quote} I was going to (but I won't) Do a fib retrace over your pic and put an arrow in @50% (placing a caption) saying "wish I was here" -> then I realised I might be "Temporarily Suspended By A Senior Member So I didn't G/L G/N
No need to. The verbal instructions were enough
Those who say it cannot be done should not interrupt those who are doing it
  • #352,106
  • Nov 6, 2013 11:43am Nov 6, 2013 11:43am
Quoting Luther
{quote} Cheers. Yeah, sometimes being stuck in the mud isn't all that bad. You just need to set your trading room up properly to get through the rough patches. Panther style. {image}
Now you're talking.

Time to call the interior designer. My office needs a makeover
Those who say it cannot be done should not interrupt those who are doing it
  • #352,107
  • Nov 6, 2013 11:50am Nov 6, 2013 11:50am
just an heads up....
GBP NZD is touching important possible low.

will it be a middle lower low, preceding a continuation downtrend (after a lower high) or will it be lowest before a large swing up?
who knows .... but worth to give an eye.

there are also some correlations with cable but don't think too much on that... quite complex imo...
in recent sessions is mainly driven by NZD
Attached Image (click to enlarge)
Click to Enlarge Name: Chart_GBP_NZD_4 Hours_snapshot.png Size: 24 KB
90% of traders use TA, indicators and prediction
  • #352,108
  • Nov 6, 2013 12:01pm Nov 6, 2013 12:01pm
Bears will need a daily close below 1.6068 in order to regain momentum and head back down to retest the 1.59 levels. A break above 1.6117 and the bulls will take this all the way to 1.6250

These 2 levels will help me decide which way i go... I am more bearish than bullish just to take a side but i have no position...yet!

Trade safe and Green pips to ALL
Cheers!!
  • #352,109
  • Nov 6, 2013 12:07pm Nov 6, 2013 12:07pm
Quoting PipsMaster23
Bears will need a daily close below 1.6068 in order to regain momentum and head back down to retest the 1.59 levels. A break above 1.6117 and the bulls will take this all the way to 1.6250 These 2 levels will help me decide which way i go... I am more bearish than bullish just to take a side but i have no position...yet! Trade safe and Green pips to ALL
That's a pretty sober call and I like it
Those who say it cannot be done should not interrupt those who are doing it
  • #352,110
  • Nov 6, 2013 12:09pm Nov 6, 2013 12:09pm
Quoting _BBKing_
just an heads up.... GBP NZD is touching important possible low. will it be a middle lower low, preceding a continuation downtrend (after a lower high) or will it be lowest before a large swing up? who knows .... but worth to give an eye. there are also some correlations with cable but don't think too much on that... quite complex imo... in recent sessions is mainly driven by NZD {image}
I say up regardless of what cable does. The Kiwi has to fall. Stupid bird it is. Thinks it can fly.
Inserted Video
Those who say it cannot be done should not interrupt those who are doing it
  • #352,111
  • Nov 6, 2013 12:16pm Nov 6, 2013 12:16pm
Quoting PipTrapper
{quote} I say up regardless of what cable does. The Kiwi has to fall. Stupid bird it is. Thinks it can fly. http://www.youtube.com/watch?v=sdUUx5FdySs
yep same view here!
the problem is to find the low... as always!!
actually i'm already in with a 1/3 position and large stop. will be looking to increase the position later during this/next week
90% of traders use TA, indicators and prediction
  • #352,112
  • Nov 6, 2013 12:24pm Nov 6, 2013 12:24pm
Quoting _BBKing_
{quote} yep same view here! the problem is to find the low... as always!! actually i'm already in with a 1/3 position and large stop. will be looking to increase the position later during this/next week
What's your rollover cost per standard lot on this pair? It's probably quite expensive, yes?
Mine is €3.96
Those who say it cannot be done should not interrupt those who are doing it
  • #352,113
  • Nov 6, 2013 12:29pm Nov 6, 2013 12:29pm
my view is
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDH4 6-11-13.png Size: 29 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #352,114
  • Nov 6, 2013 12:34pm Nov 6, 2013 12:34pm
Quoting TauTrader
{quote} Good day, Shorted heavily on the rise. Closed now. Worked. Regards {image}
nice scale in .... !!!
way to go man ...
  • #352,115
  • Nov 6, 2013 12:35pm Nov 6, 2013 12:35pm
Quoting PipTrapper
{quote} Nah it's not magic... just personal {image}

can i also see those zones that have been removed (old zones, so to speak)?
  • #352,116
  • Nov 6, 2013 12:37pm Nov 6, 2013 12:37pm
Quoting Bones
my view is {image}
Almost identical, though where you sl is i have another sell, hence my short at .900 today and so far its held.
  • #352,117
  • Nov 6, 2013 12:37pm Nov 6, 2013 12:37pm
Quoting PipTrapper
{quote} What's your rollover cost per standard lot on this pair? It's probably quite expensive, yes? Mine is €3.96
i do really never check that!! i'm trading with smaller size than 1lot so not considering the rollover as important... spread in this cross is anyway 4-5pips

edit: just checking about... rollover are counted in pips in dukascopy! 1.32pips cost.
here's the link http://www.dukascopy.com/swiss/engli...nts/overnight/

edit2: considering the cross moves about 150-200p x day, a 6.32p cost (5p spread + 1.3 swaps) is really nothing
90% of traders use TA, indicators and prediction
  • #352,118
  • Nov 6, 2013 12:38pm Nov 6, 2013 12:38pm
Quoting TauTrader
{quote} Good day, Shorted heavily on the rise. Closed now. Worked. Regards {image}

spot on sir, good job
  • #352,119
  • Nov 6, 2013 1:11pm Nov 6, 2013 1:11pm
is it really ,well I can see why ,thanks


Quoting PipTrapper
{quote} Beats me Bones. Perhaps you've never visited my thread. >>> http://www.forexfactory.com/showthread.php?t=317077 It's only the 3rd most popular... or at least it was at one time You're welcome to post there any time
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #352,120
  • Nov 6, 2013 1:11pm Nov 6, 2013 1:11pm
waiting game now I guess

Quoting Pumpndump
{quote} Almost identical, though where you sl is i have another sell, hence my short at .900 today and so far its held.
On-site guru & also FF member's' psychiatrist, when not drinking tea
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