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Cable Update (GBPUSD)

  • #355,501
  • Dec 6, 2013 8:07am Dec 6, 2013 8:07am
caught this as well...

Attached Image (click to enlarge)
Click to Enlarge Name: 20131206.1405.gmt.gbpusd.h4.png Size: 47 KB
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #355,502
  • Dec 6, 2013 8:09am Dec 6, 2013 8:09am
Quoting julia2011
{quote} ur target? i don't think it will pass 64
closed, kind sir

No target.

Regards
  • #355,503
  • Dec 6, 2013 8:10am Dec 6, 2013 8:10am
Quoting julia2011
{quote} ur target? i don't think it will pass 64
H4 swing on the up move so dont be surprised if it tests this week's high around 1.6420
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #355,504
  • Dec 6, 2013 8:17am Dec 6, 2013 8:17am
alright so what's happening?
Super bullish USD datas and USD downhill. What?
Is market totally manipulated? Could anyone please enlighten me?
  • #355,505
  • Dec 6, 2013 8:20am Dec 6, 2013 8:20am
Quoting counterpoint
alright so what's happening? Super bullish USD datas and USD downhill. What? Is market totally manipulated? Could anyone please enlighten me?
I think we are experiencing a moment where Positive US data brings Risk on.... when US data is good people invest in stocks invest in risk commodities like EUR, GBP, AUD, and pull money out of safe haven like CHF, JPY etc...

so do not trade data expecting good data will boost the USD immediately thinking tapering will happen...
Taper hasnt happen and the USD wont rise until the day they actually announce Taper....
otherwise, just trade the risk on/off gauge....
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #355,506
  • Dec 6, 2013 8:27am Dec 6, 2013 8:27am
GU H4 GMT+3

This candle close above ~6360 2nd buy signal validated....

Good luck!
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdh4.png Size: 82 KB
Anything is math!
  • #355,507
  • Dec 6, 2013 8:37am Dec 6, 2013 8:37am
Update GU 4H

Channel down continues bullish price action with target 1.66 (as per Daily chart)
Attached Image (click to enlarge)
Click to Enlarge Name: GU 4H.png Size: 21 KB
  • #355,508
  • Dec 6, 2013 8:39am Dec 6, 2013 8:39am
looks like there's possibility market close weekly as a doji.. cleared my long and test a short @ 6370..
  • #355,509
  • Dec 6, 2013 8:42am Dec 6, 2013 8:42am
i expect market to move higher today since the last day of the week to validate the three white soldiers I discussed yesterday but price doesn't seems to agree to what I expected yesterday.. i see no point of holding long since price shows of no interest of breaking the highs..

if price close as indecision bar today, i expect we will keep on bouncing up and down from the open..
  • #355,510
  • Dec 6, 2013 8:45am Dec 6, 2013 8:45am
No volatility.
  • #355,511
  • Dec 6, 2013 8:46am Dec 6, 2013 8:46am
Quoting A-speculator
i expect market to move higher today since the last day of the week to validate the three white soldiers I discussed yesterday but price doesn't seems to agree to what I expected yesterday.. i see no point of holding long since price shows of no interest of breaking the highs.. if price close as indecision bar today, i expect we will keep on bouncing up and down from the open..
The practise of speculation is best accompanied by patience
Three irregular positive daily candles are not soldiers, however the bullish case is still strong.
  • #355,512
  • Dec 6, 2013 8:49am Dec 6, 2013 8:49am
Quoting A-speculator
i expect market to move higher today since the last day of the week to validate the three white soldiers I discussed yesterday but price doesn't seems to agree to what I expected yesterday.. i see no point of holding long since price shows of no interest of breaking the highs.. if price close as indecision bar today, i expect we will keep on bouncing up and down from the open..

Other than 2 US Dollar longs in the green which I have been nursing for a while now, I am completely flat.
I was looking for the Euro to break and close below 1.3630 before making a decision to short, but as you all can see, this didn't happen.

The yield pigs are feasting on high risk junk bonds, so I'm not going to play in the cesspit.

I'm done for today. Will see next week.
Those who say it cannot be done should not interrupt those who are doing it
  • #355,513
  • Dec 6, 2013 8:51am Dec 6, 2013 8:51am
Quoting JimmyC
{quote} The practise of speculation is best accompanied by patience
Three irregular positive daily candles are not soldiers, however the bullish case is still strong.
That's what I said, but Speculator insists they are
Those who say it cannot be done should not interrupt those who are doing it
  • #355,514
  • Dec 6, 2013 8:51am Dec 6, 2013 8:51am
Quoting JimmyC
{quote} The practise of speculation is best accompanied by patience Three irregular positive daily candles are not soldiers, however the bullish case is still strong.
i agree on that.. but don't forget the two factors in trading - the price and time.. you might be right, but if you're not in the right price or time, you will face drawdown..

atm i see no reason in terms of price or time to enter long, for the time being from the progression of price and time, seems more towards bearish.. may not be for few weeks worth of position but good for 1h progression.. will look into it as candle progress.. i'm not a position trader, i'm more into scalp and swing, depends on the PA
  • #355,515
  • Dec 6, 2013 8:52am Dec 6, 2013 8:52am
Quoting PipTrapper
{quote} That's what I said, but Speculator insists they are
I think the soldiers will be killed by the Al-Qaeda soldiers if weekly closed as doji..
  • #355,516
  • Dec 6, 2013 8:56am Dec 6, 2013 8:56am
Quoting A-speculator
{quote} i agree on that.. but don't forget the two factors in trading - the price and time.. you might be right, but if you're not in the right price or time, you will face drawdown.. atm i see no reason in terms of price or time to enter long, for the time being from the progression of price and time, seems more towards bearish.. may not be for few weeks worth of position but good for 1h progression.. will look into it as candle progress.. i'm not a position trader, i'm more into scalp and swing, depends on the PA
Indeed.

This is interesting though

Dollar Basket
Attached Image (click to enlarge)
Click to Enlarge Name: US Dollar Basket (DEC-13).png Size: 23 KB
  • #355,517
  • Dec 6, 2013 8:57am Dec 6, 2013 8:57am
Seems like sentiment is for taper to happen end of first quater 2014 therefore no USD bull.
  • #355,518
  • Dec 6, 2013 8:59am Dec 6, 2013 8:59am
Quoting A-speculator
{quote} I think the soldiers will be killed by the Al-Qaeda soldiers if weekly closed as doji..
Good one Spec.
Have a great weekend.
Those who say it cannot be done should not interrupt those who are doing it
  • #355,519
  • Dec 6, 2013 9:00am Dec 6, 2013 9:00am
Quoting PipTrapper
{quote} Good one Spec. Have a great weekend.
you too mate.
  • #355,520
  • Dec 6, 2013 9:02am Dec 6, 2013 9:02am
Quoting JimmyC
{quote} Indeed. This is interesting though Dollar Basket {image}
I see you tried to correlate different instrument for single pair for your trading. That is a good concept and I did that as well.. if you try to correlate dollar index to cable, have you seen how Pound is performing? I mean to better gauge the sentiment you have to hear from both side of the market, don't you agree?
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