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Cable Update (GBPUSD)

  • #358,661
  • Jan 15, 2014 5:13am Jan 15, 2014 5:13am
Quoting petetong
Hello thread readers. A strong bounce off Weekly S1 at today's current low point - intraday generally now like longer term seems rangy now...5min started the move up a pinbar then a hammer - ie a tweezer bottom then 1hr printed a hammer and a bullish engulfing resulting in the 4hr pinbar shown below... Best Wishes {image}
short scalp 1.6431 if you look at yesterday it the same on 15m more or less target 1.6416
  • #358,662
  • Jan 15, 2014 5:18am Jan 15, 2014 5:18am
Quoting chazzle
{quote} thanks - just following the reverse from LO - half expecting a wtf move though ... which is paranoia or playing it cautiously ... time will tell
yeah this is my bread and butter set up ..I usually would have entered long at 1.6392 TP @ 1.6435 and barely made the minimum RR, but cable has been behaving erratic for a week now and the 200 EMA is right there cutting it too close. But as you are a scalper its right in your domain...you probably will even short it at 1.6432 and make some pips on its way down perhaps after confimation of course
  • #358,663
  • Jan 15, 2014 5:23am Jan 15, 2014 5:23am
Quoting GlobalMacro
{quote} I see 484 as well...how confident are you about it intraday?
GU D1

working off 3 main lines here formed by daily closes as highlighted - upper and lower conveniently 100 pips apart with 434 as the mid, the lower coincides with early Jan 2013 swing high so is particularly strong imo - so to me we are effectively range bound in this area. If that DTL goes (M15 chart) it makes 484 more likely - continuing the bullish i/d momentum - Carney could get it there easily ... what can I say? Definitely only looking at longs here
Attached Image (click to enlarge)
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  • #358,664
  • Jan 15, 2014 5:26am Jan 15, 2014 5:26am
Quoting IveGotQuads
...you probably will even short it at 1.6432 and make some pips on its way down perhaps after confimation of course
yes, PA been good for short term so far this week - will not short 432 as it is too close to that descending trend line where I expect bullish pressure to build
  • #358,665
  • Jan 15, 2014 5:30am Jan 15, 2014 5:30am
Quoting chazzle
{quote} GU D1 working off 3 main lines here formed by daily closes as highlighted - upper and lower conveniently 100 pips apart with 434 as the mid, the lower coincides with early Jan 2013 swing high so is particularly strong imo - so to me we are effectively range bound in this area. If that DTL goes (M15 chart) it makes 484 more likely - continuing the bullish i/d momentum - Carney could get it there easily ... what can I say? Definitely only looking at longs here {image}
Attached Image (click to enlarge)
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Hi X marks the spot for me 4hour comes out around 1.6484 well done that man i will be long when my scalp gets to were it should ,so long from here if the scalp fails
  • #358,666
  • Jan 15, 2014 5:32am Jan 15, 2014 5:32am
Quoting chazzle
{quote} GU D1 working off 3 main lines here formed by daily closes as highlighted - upper and lower conveniently 100 pips apart with 434 as the mid, the lower coincides with early Jan 2013 swing high so is particularly strong imo - so to me we are effectively range bound in this area. If that DTL goes (M15 chart) it makes 484 more likely - continuing the bullish i/d momentum - Carney could get it there easily ... what can I say? Definitely only looking at longs here {image}
Excellent, thanks.
Hear the music before the song is over ...
  • #358,667
  • Jan 15, 2014 5:35am Jan 15, 2014 5:35am
Between Price Action and harmonic pattern, which is best for trading GBPUSD?
To become a better trader, think discipline.
  • #358,668
  • Jan 15, 2014 5:38am Jan 15, 2014 5:38am
Quoting elbert3
{quote} {image} Hi X marks the spot for me 4hour comes out around 1.6484 well done that man i will be long when my scalp gets to were it should ,so long from here if the scalp fails
nice - didn't see that one, adds more weight to the long bias in pin-pointing the target
  • #358,669
  • Jan 15, 2014 5:40am Jan 15, 2014 5:40am
Quoting GlobalMacro
{quote} Excellent, thanks.
you're welcome mate
  • #358,670
  • Jan 15, 2014 6:00am Jan 15, 2014 6:00am
Quoting chazzle
{quote} you're welcome mate
just on 1 min see if we can get a signal have to make sure it does not go to far down
  • #358,671
  • Jan 15, 2014 6:03am Jan 15, 2014 6:03am
Quoting elbert3
{quote} just on 1 min see if we can get a signal have to make sure it does not go to far down
in 1.64191 remember my disclaimer enter at own risk
  • #358,672
  • Jan 15, 2014 6:03am Jan 15, 2014 6:03am
Jacques Naude ‏@Pawpaw1000 4h
I'm looking to buy $GBPUSD down here

Jacques Naude ‏@Pawpaw1000 3h
I got long 6389 with SL below the LOD and now at 6385 $GBPUSD

Jacques Naude ‏@Pawpaw1000 1h
$GBPUSD entries and TP pic.twitter.com/aM8HcFjUrh

I know, I know, I really need to make that SL wider... I just keep forgetting...
@pawpaw1000 on Twitter
  • #358,673
  • Jan 15, 2014 6:09am Jan 15, 2014 6:09am
Quoting ektom
{quote} Excellent. Could you short your d*ck or dress up your panties, then my d*ck seems too be bigger... Ego is a massive killer... I read your posts but now you are out.

@pawpaw1000 on Twitter
  • #358,674
  • Jan 15, 2014 6:09am Jan 15, 2014 6:09am
Quoting elbert3
{quote} just on 1 min see if we can get a signal have to make sure it does not go to far down
personally, I can't see patterns very easily on that tf - levels ok of course , but I like to see patterns also - what kind of signal do you look out for?
  • #358,675
  • Jan 15, 2014 6:28am Jan 15, 2014 6:28am
them bullish candles you highlight ,something bearish about them ?

Quoting chazzle
{quote} GU D1 working off 3 main lines here formed by daily closes as highlighted - upper and lower conveniently 100 pips apart with 434 as the mid, the lower coincides with early Jan 2013 swing high so is particularly strong imo - so to me we are effectively range bound in this area. If that DTL goes (M15 chart) it makes 484 more likely - continuing the bullish i/d momentum - Carney could get it there easily ... what can I say? Definitely only looking at longs here {image}
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #358,676
  • Jan 15, 2014 6:28am Jan 15, 2014 6:28am
I looked at the order flow for cable and it seems there are massive sellers btw 1.6425 1.6440 1.6460 1.6475
and the buyers are @ 1.6375 1.360 1.3650 1.6340 and below looks like going short here below the 200 EMA may not be a bad idea

Ps: just to add a disclaimer NEWS is coming out in an hr or so.
  • #358,677
  • Jan 15, 2014 6:33am Jan 15, 2014 6:33am
Quoting chazzle
{quote} personally, I can't see patterns very easily on that tf - levels ok of course , but I like to see patterns also - what kind of signal do you look out for?
its notlooking to goood at the mo sl is not far away did any body see another entry point might of got in to late let see if were right any way. 1.6394 was the one i will post the charts next give me few mins
  • #358,678
  • Jan 15, 2014 6:36am Jan 15, 2014 6:36am
Quoting Bones
them bullish candles you highlight ,something bearish about them ? {quote}
I do see what you mean, Tony - but to me they (the closing prices) are more effective as indicators of PA since the daily trend is still bullish - and, well - hey at least they both closed higher than they opened - was not looking at those candles with bull/bear perspective in mind at all in fact -
  • #358,679
  • Jan 15, 2014 6:39am Jan 15, 2014 6:39am
Quoting chazzle
{quote} personally, I can't see patterns very easily on that tf - levels ok of course , but I like to see patterns also - what kind of signal do you look out for?
Attached Image (click to enlarge)
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Attached Image (click to enlarge)
Click to Enlarge Name: 1 min.png Size: 88 KB
the 1.63 was the one i got in at the near 50% of that move which was coming off the 200sma and a bounce previous if we get back up to the x i might load more then we should be clear but watch around 420 it could reverse
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  • #358,680
  • Jan 15, 2014 6:43am Jan 15, 2014 6:43am
Quoting chazzle
early Asia lows to hold bears at 412 for the time being as I see it
doing the business - carry on, Cable - hold ye bastard
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