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Cable Update (GBPUSD)

  • #353,601
  • Nov 19, 2013 3:36pm Nov 19, 2013 3:36pm
Quoting nAVIN2007
{quote} i never seen it move so slow..but if u ask me..the market is looking for a dollar bull but news isnt showing a cause..which is the problem
Couldn't agree with you more. It needs a strong reason to break through that monthly resistance. Have to wait and see. Strange last few days!! rather be out than in.
  • #353,602
  • Nov 19, 2013 4:23pm Nov 19, 2013 4:23pm
Depending on how things go over the next few hours, we could be looking at a reverse head and shoulders.

Not sure how exact the neckline and such needs to be, but on the hourly, it's looking like that set up to me.
  • #353,603
  • Nov 19, 2013 4:59pm Nov 19, 2013 4:59pm
Quoting JimmyC
Reversal by todays definition is a reversal of more than 20% to the opposite direction of the trend. DXY is not there yet. G/L
is this "more 20 %" by price or by time?
14QDuJtV7okxhBzC86FwawaR6tV5LvetLq
  • #353,604
  • Nov 19, 2013 5:15pm Nov 19, 2013 5:15pm
Quoting squawk
{quote} Couldn't agree with you more. It needs a strong reason to break through that monthly resistance. Have to wait and see. Strange last few days!! rather be out than in.

See this move? what was reason now?...There is nothing that market already doesnt know ...they know BB speach ...all data...It is just about timing which they control anyway.
The Market pays you to be disciplined
  • #353,605
  • Nov 19, 2013 5:28pm Nov 19, 2013 5:28pm
31 hour ago

Quoting mima
If dollar Index goes bellow 80.51 any prediction will be effected... {image}
Attached Image (click to enlarge)
Click to Enlarge Name: [USDX]H2.png Size: 93 KB


Here we are dollar is at 80.51...was little bit bellow ...might continue down...and that is open...to me is unknown when they will stop...79.39?

Attached Image (click to enlarge)
Click to Enlarge Name: [USDX]H2-1.png Size: 71 KB
The Market pays you to be disciplined
  • #353,606
  • Nov 19, 2013 5:54pm Nov 19, 2013 5:54pm
It seems the schedule was off on the board here.

It says Bernake is to speak in a few minutes, but he's already spoken.
  • #353,607
  • Nov 19, 2013 6:17pm Nov 19, 2013 6:17pm
It is ranging yet to the downside , just a little more patience and we will see big moves to the down side, the events on Wednesday will shake the market big time.
  • #353,608
  • Nov 19, 2013 6:35pm Nov 19, 2013 6:35pm
Quoting Aboutera
It is ranging yet to the downside , just a little more patience and we will see big moves to the down side, the events on Wednesday will shake the market big time.

How do you know?
The Market pays you to be disciplined
  • #353,609
  • Nov 19, 2013 6:55pm Nov 19, 2013 6:55pm
Quoting mima
{quote} How do you know?
How do I know that the market will shake?
That is because there are big events tomorrow on both GB and US
as for its consolidation it is technically slightly to the downside you could check Mr. JimmyC on this post for more details.

  1. Post 353,593

  • #353,610
  • Nov 19, 2013 7:12pm Nov 19, 2013 7:12pm
Quoting Aboutera
{quote} How do I know that the market will shake? That is because there are big events tomorrow on both GB and US as for its consolidation it is technically slightly to the downside you could check Mr. JimmyC on this post for more details. Post 353,593

So you think the news for the USofA will be positive then, taking the dollar higher?
  • #353,611
  • Nov 19, 2013 7:58pm Nov 19, 2013 7:58pm
just hold cable shorts, we're still on track....
Pecuniae obediunt omnia
  • #353,612
  • Nov 19, 2013 8:24pm Nov 19, 2013 8:24pm
Quoting PIPot
just hold cable shorts, we're still on track....
What's your stop loss?
"HEY! Whats all this chocolate on yo face?" - "It's doodoo, babby!"
  • #353,613
  • Nov 19, 2013 9:56pm Nov 19, 2013 9:56pm
Quoting ud1nh0
{quote} is this "more 20 %" by price or by time?
By price
  • #353,614
  • Nov 19, 2013 10:41pm Nov 19, 2013 10:41pm
Quoting PIPot
just hold cable shorts, we're still on track....
Was you not calling out 163s and higher a day or two ago?
  • #353,615
  • Nov 19, 2013 11:04pm Nov 19, 2013 11:04pm
Quoting Aboutera
{quote} How do I know that the market will shake? That is because there are big events tomorrow on both GB and US as for its consolidation it is technically slightly to the downside you could check Mr. JimmyC on this post for more details. Post 353,593
Why will the upcoming events shake cable down? (though I hope it will from the bottom of my... trading account )

GB next news are asset purchase and bank rates, which will stay unchanged - don't see any reason why they could change.
and US next news are CPI, retail sales followed by existing home sales today and PPI and Unemployment claims for tomorrow, which all of them have high probability miss the expectation...

Based on that, I don't think we will see Cable going down today or tomorrow or even until the end of this week...
of course that's just my opinion though.
  • #353,616
  • Nov 19, 2013 11:31pm Nov 19, 2013 11:31pm
I think you're right, a high probability to miss expectations.

Not only do I think you're right, but I think that's close to being priced in. Which means, if it does miss expectation, it'll move up but not huge.

On the other hand, if things go the other way? Look out below.
  • #353,617
  • Nov 19, 2013 11:49pm Nov 19, 2013 11:49pm
Quoting Davit
{quote} Experience tells me what looks very obvious usually is the losing side.Going long is obvious.

Being that I am long, it doesn't seem that obvious to me. This could very easily be a lower high.

The obvious thing to me seems like we are trading in a very large range of lower highs (On the monthly) and higher lows (Also on the Monthly). It's seemed to me at some point we are going to move down around 500 to 1000 pips, depending.

When that happens, I don't know, but we are up near what I consider the upward bound of the range, which tells me a reversal is in order.

I'm not sure how that makes the bullish scenario the "very obvious" scenario.
  • #353,618
  • Nov 20, 2013 12:17am Nov 20, 2013 12:17am
Quoting Davit
{quote} 223 posts 7 threads you started all worthless...not attacking you just pointing out quality of your thinking.
Brilliant.

I'm going to attempt this with my wife the next time I insult her.

I think the escape route here relies on the word "just". If we throw that in, it excuses everything.

"Honey, that dress makes you look fat. Not attacking you, just pointing out the quality of your fashion style."

I'm sure she will smile and laugh.

Or maybe I'll attempt it with my boss that next time he annoys me.

"All of your recommendations are worthless...not attacking you, just pointing out the quality of your work."

Absolutely brilliant.

I'd have thought of this earlier, if the quality of my thinking weren't so worthless.
  • #353,619
  • Nov 20, 2013 12:22am Nov 20, 2013 12:22am
Quoting Davit
{quote} Experience tells me what looks very obvious usually is the losing side.Going long is obvious.
Ah yes, like last week when I opened my short (and most of people here also thinking the same thing) and then the price went up till today...

but still, the majority of people (as showed in FF and oanda open position) are short, which is why make me feel cable will not going down without some fight... I hope I'm wrong though...
  • #353,620
  • Nov 20, 2013 12:30am Nov 20, 2013 12:30am
Quoting Davit
{quote} please ignore my comments and stick to your trading plan.You are 100% correct in your reasoning.I don't think like you simply.I don't think in lower highs or lower lows or whatever lot of traders get stuck on. 223 posts 7 threads you started all worthless...not attacking you just pointing out quality of your thinking.
This statement is uncalled for, If you are an incurable bear then stick to your bear can! don't go berating the contribution or posts of others like you just did. I really dont see anything wrong in what Baggi said, he only disagreed with you and he did so politely
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