Today looks like it is gearing up for a big 100 - 200 pip run as soon as the Unemployment figures are announced in the US
Cable Update (GBPUSD)
- #357,842
- Jan 9, 2014 7:10am Jan 9, 2014 7:10am
{quote} Well it's a good risk/reward. I would be waiting for a break of that triangle thingy north and a 4 hr close above the 23 fibo around 3625, then go long. But I don't trade the Euro, so it's all academic I suppose
Just because by my peek valley analysis on the daily TF the trend just have become bearish and the trend is my friend too
Usually nor do i trade it but I am still short on eur/gbp and my target has not been reached yet
Anything is math!
- #357,843
- Jan 9, 2014 7:11am Jan 9, 2014 7:11am
- Joined Nov 2013 | Status: Made in Germany | 19,871 Posts
fortis fortuna adiuvat
- #357,845
- Jan 9, 2014 7:22am Jan 9, 2014 7:22am
- Joined May 2011 | Status: Get to the Chopper | 17,905 Posts
{quote} RR is my friend too
Just be careful though, Cable just closed 2 days in a row below the 23 fibo and is now heading north and I've noticed Euro often shares similar major TF fib technicals at any given time.
Cable pulled a similar trick back in October, just closing beneath the 23 fibo on the daily for 1-2 days, then boom north.
Personally, I think we are in a major overall multi year bull trend on Cable that is really just getting started.
Come with me if you want to live....
- #357,846
- Jan 9, 2014 7:39am Jan 9, 2014 7:39am
{quote} Yes, it looks bearish on the daily. Just be careful though, Cable just closed 2 days in a row below the 23 fibo and is now heading north and I've noticed Euro often shares similar major TF fib technicals at any given time. Cable pulled a similar trick back in October, just closing beneath the 23 fibo on the daily for 1-2 days, then boom north. Personally, I think we are in a major overall multi year bull trend on Cable that is really just getting started.
My major 23 years resistance ~6290 on Cable is already support by my view. North to 2.0
Anything is math!
- #357,848
- Jan 9, 2014 7:47am Jan 9, 2014 7:47am
- Joined Jan 2010 | Status: No Hope for FF | 3,772 Posts
@pawpaw1000 on Twitter
- #357,851
- Jan 9, 2014 8:10am Jan 9, 2014 8:10am
- Joined Mar 2008 | Status: Taking Care Of Business | 5,587 Posts
Hear the music before the song is over ...
- #357,853
- Jan 9, 2014 8:34am Jan 9, 2014 8:34am
- Joined Jan 2010 | Status: No Hope for FF | 3,772 Posts
@pawpaw1000 on Twitter
- #357,854
- Jan 9, 2014 8:37am Jan 9, 2014 8:37am
- Joined Jan 2010 | Status: No Hope for FF | 3,772 Posts
@pawpaw1000 on Twitter
- #357,856
- Jan 9, 2014 9:29am Jan 9, 2014 9:29am
- Joined Dec 2013 | Status: Trader | 19,815 Posts
on the 4 hr we want a pair of railway tracks and a big pin bar rev, right off the golden number come on 
- #357,858
- Jan 9, 2014 9:40am Jan 9, 2014 9:40am
- Joined Jan 2010 | Status: No Hope for FF | 3,772 Posts
@pawpaw1000 on Twitter
- #357,860
- Jan 9, 2014 10:41am Jan 9, 2014 10:41am
- Joined Feb 2012 | Status: Trader | 21,377 Posts
In trading, you have to be defensive and aggressive at the same time