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Cable Update (GBPUSD)

  • #356,641
  • Dec 22, 2013 1:25am Dec 22, 2013 1:25am
Quoting PipTrapper
{quote} and then 1.67
Yeap - need to see another 1.625 reaction again
  • #356,642
  • Dec 22, 2013 3:16am Dec 22, 2013 3:16am
Quoting Davit
{quote} Aren't you little jumpy! 1st we go all the way to 1.60 median mean then care less after. {image}
Yes of course 1.6080 is definitely in the realm of probabilities, but the initial bounce area is 62xx.
Those who say it cannot be done should not interrupt those who are doing it
  • #356,643
  • Dec 22, 2013 3:42am Dec 22, 2013 3:42am
some opportunities in GBPUSD 2013
Attached Image (click to enlarge)
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A chart helps those who can read it.
  • #356,644
  • Dec 22, 2013 6:29am Dec 22, 2013 6:29am
I think most of us here agree that the price will move upwards slightly and then fall off the cliff. CB below thinks this slight move up will be 1.6465 and then have a nice drop. Looking at my calendar, this week seems extremely dull in terms of data; apart from unemployment claims (thurs) and new home sales (tues) thus that big move is a bit ambitious. Looks like its time to take those scalping strategies out, there is going to be range.



Commerzbank: CB runs a limit order to sell cable at 1.6465, with a stop at 1.6500.[1]




[1] http://www.efxnews.com/story/22172/g...ll-commerzbank
  • #356,645
  • Edited 7:58am Dec 22, 2013 7:46am | Edited 7:58am
Quoting ozgurerisir
I think most of us here agree that the price will move upwards slightly and then fall off the cliff. CB below thinks this slight move up will be 1.6465 and then have a nice drop. Looking at my calendar, this week seems extremely dull in terms of data; apart from unemployment claims (thurs) and new home sales (tues) thus that big move is a bit ambitious. Looks like its time to take those scalping strategies out, there is going to be range. Commerzbank: CB runs a limit order to sell cable at 1.6465, with a stop at 1.6500.[1] [1] http://www.efxnews.com/story/22172/g...ll-commerzbank...

They are correct that price showed exhaustion at 6480 but that was true from 6450-80 as well. In my view we will retrace to 6250 test before going higher up again.
Very good chance 6250 might break and test 1.60 psychological level.
On weekly chart entire move from 1.48 retrace to 1.60 is only 25% which is reasonable to expect.
In trading, you have to be defensive and aggressive at the same time
  • #356,646
  • Dec 22, 2013 12:07pm Dec 22, 2013 12:07pm
Quoting ozgurerisir
I think most of us here agree that the price will move upwards slightly and then fall off the cliff. CB below thinks this slight move up will be 1.6465 and then have a nice drop. Looking at my calendar, this week seems extremely dull in terms of data; apart from unemployment claims (thurs) and new home sales (tues) thus that big move is a bit ambitious. Looks like its time to take those scalping strategies out, there is going to be range. Commerzbank: CB runs a limit order to sell cable at 1.6465, with a stop at 1.6500.[1] [1] http://www.efxnews.com/story/22172/g...ll-commerzbank...
Good scalping opportunities this week I agree.
Looks to me like CB is looking to scalp 35 pips off a big bunch of retailers.
Come with me if you want to live....
  • #356,647
  • Dec 22, 2013 12:21pm Dec 22, 2013 12:21pm
Quoting Ill-b-back
{quote} Good scalping opportunities this week I agree. Looks to me like CB is looking to scalp 35 pips off a big bunch of retailers.
Hope all is good, happy holidays for you and your family......
The Chonchy
  • #356,648
  • Dec 22, 2013 12:31pm Dec 22, 2013 12:31pm
Quoting Ill-b-back
Y'all ready for this...? http://www.youtube.com/watch?feature...&v=83hoUxrflNk {image}

Like my friend fibstalker will say, "Big Potatos"....http://www.forexfactory.com/showthre...80#post7171080
The Chonchy
  • #356,649
  • Dec 22, 2013 12:34pm Dec 22, 2013 12:34pm
Quoting 45Condor
{quote} I agree. That said, we could have left all but the rioting and sacrifice as it was. Alcohol-fuelled orgies do not strike me as abhorrent. Indeed, with such practices in place, it could help to pacify a culture for the rest of the year. My problem with contemporary Christmas is that it has been hijacked by corporatism, and deceiving deities.
The Chonchy
  • #356,650
  • Dec 22, 2013 12:44pm Dec 22, 2013 12:44pm
Looks like a lil gap down
  • #356,651
  • Dec 22, 2013 12:45pm Dec 22, 2013 12:45pm
Quoting 45Condor
Well, that 61.8 FE really is proving to be a ceiling at the moment, and will, in my opinion, likely remain so until the start of next year. The Dollar, too, seems to be sitting back and waiting for the indulgence in contemporary Christmas to leave its debt behind. But enough of my bah humbug attitude to this corporate hijacking of pagan celebration. I hope all are well, and that the end of the year heralds new beginnings for you. {image} {image} {image} {image}

......Hope all good for you in this, what is left of the holidays, hijacked by the corps, like you correctly put it my friend, the best for you and yours........
The Chonchy
  • #356,652
  • Dec 22, 2013 1:48pm Dec 22, 2013 1:48pm
Quoting Jeremy Oak
Looks like a lil gap down
The Gap is exactly what I'm wandering about - gap up or gap down?

What determines the direction of the gap anyways? Is it the net volume of pending orders? - Can anyone please give some insight?
I see Beasts. I drop my scalpel and beckon to theatre nurse: "Charts!&
RubiconFund Return Today: na
  • #356,653
  • Dec 22, 2013 2:40pm Dec 22, 2013 2:40pm
Quoting chonchy
{quote} Hope all is good, happy holidays for you and your family......
And you too Sir, hoping you enjoy the magic if this time of year and have a great time with friends and family
Come with me if you want to live....
  • #356,654
  • Dec 22, 2013 3:02pm Dec 22, 2013 3:02pm
Quoting surgeon
{quote} The Gap is exactly what I'm wandering about - gap up or gap down? What determines the direction of the gap anyways? Is it the net volume of pending orders? - Can anyone please give some insight?
There really is no gap. It is a "retail gap" because the Interbank market starts re-pricing and trading before the retail brokers fire up their price feeds.

It's like a gap in the SP500. It shows as a gap on the chart but if you look at SPX futures chart of the index, there is no gap.
Those who say it cannot be done should not interrupt those who are doing it
  • #356,655
  • Dec 22, 2013 3:56pm Dec 22, 2013 3:56pm
Quoting PipTrapper
{quote} There really is no gap. It is a "retail gap" because the Interbank market starts re-pricing and trading before the retail brokers fire up their price feeds. It's like a gap in the SP500. It shows as a gap on the chart but if you look at SPX futures chart of the index, there is no gap.

Got that - thanks. Couldn't it be fixed so that everyone gets off the blocks at the same time, one would have thought.
I see Beasts. I drop my scalpel and beckon to theatre nurse: "Charts!&
RubiconFund Return Today: na
  • #356,656
  • Dec 22, 2013 4:19pm Dec 22, 2013 4:19pm
Quoting surgeon
{quote} Got that - thanks. Couldn't it be fixed so that everyone gets off the blocks at the same time, one would have thought.
It could, but then that would create a level playing field for all. It would make way too much sense to be implemented. The market makers like it just the way it is.
Those who say it cannot be done should not interrupt those who are doing it
  • #356,657
  • Dec 22, 2013 5:17pm Dec 22, 2013 5:17pm
I foresee a continuing range between 6390 and 6325 on 1H. Anyone ranging or seeing what I'm seeing?
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  • #356,658
  • Dec 22, 2013 9:15pm Dec 22, 2013 9:15pm
You mean through the end of this month?
  • #356,659
  • Dec 23, 2013 12:38am Dec 23, 2013 12:38am
Good day,

Hope you are well

Next 2 moves?

Regards
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  • #356,660
  • Dec 23, 2013 12:47am Dec 23, 2013 12:47am
Added short
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