Cable Update (GBPUSD) | Page 18150 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

GBP/USD

Similar Threads

Cable Update - Continued 118 replies

Cable Update (GBP/USD) without Idiots 25 replies

cable short for gbpusd? 10 replies

Why is GBPUSD called cable? 76 replies

Cable (GBPUSD) vs Euro (EURUSD) 31 replies

Attachments: Cable Update (GBPUSD)
Exit Attachments

Cable Update (GBPUSD)

  • #362,981
  • Feb 12, 2014 3:48am Feb 12, 2014 3:48am
Quoting chazzle
{quote} bear until 460s - gl
admit defeat - close and reverse
  • #362,982
  • Feb 12, 2014 4:01am Feb 12, 2014 4:01am
Is this bull or bear?
  • #362,983
  • Feb 12, 2014 4:02am Feb 12, 2014 4:02am
I've long thought the signifacance of the lateral lines is not the focus as the channel is sideways ,even when the steeper rising one went last year


Quoting Bones
nice charts ,only thinking lower rising tl of that triangle if indeed it is needs to be confirmed weak right now , last year the more obveous steeper one was taken (not shown on your chart) {quote}
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #362,984
  • Feb 12, 2014 4:03am Feb 12, 2014 4:03am
it may be small but I believe ,under 1.36 confirms
Attached Image (click to enlarge)
Click to Enlarge Name: eur usd d1 Spot.png Size: 25 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #362,985
  • Feb 12, 2014 4:09am Feb 12, 2014 4:09am
Quoting Bones
nice charts ,only thinking lower rising tl of that triangle if indeed it is needs to be confirmed weak right now , last year the more obveous steeper one was taken (not shown on your chart) {quote}

It's a fair point - ie not been tested yet...see what you mean that more obvious steeper one (steepest wide dotted line) was taken last year by the bearish candle a, then a pinbar resulted at b creating a new trend line, then a pullback, then an opposing pinbar at c taking new untested trend line and a doji close at a slightly lower point than point c at point d but closing inside that new trendline, resulting now in an other new trend line joining the low of that doji at point d...this is how I see it - and of course from point d it has been generally all upwards really so far. I agree though a trend line joining 2 points is untested until it joins a third.

Best Wishes
Attached Image (click to enlarge)
Click to Enlarge Name: a.jpg Size: 100 KB
it's all gone a bit........
  • #362,986
  • Feb 12, 2014 4:23am Feb 12, 2014 4:23am
Quoting petetong
{quote} I think those that are long term bearish are reading it all wrong (on what is known so far - it could change sure!) both fundamentally and technically. I won't repeat why again fundamentally - I have done so here a few times before.....quicker to show technically...upside break of monthly triangle, pullback to top of it where so far it has found support...look at last year's yearly candle - a pinbar....yes still inside a monthly/weekly range but signs point to higher and probably some where between the 161.8 and 261.8% of the a-b move shown...
We are on the same path

Looking at weekly PA structure though, I think we can get down to 6165 area.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpusdmonthly.png Size: 33 KB
Click to Enlarge Name: gbpusdmonthly2.png Size: 33 KB
Click to Enlarge Name: gbpusdweekly.png Size: 37 KB
Come with me if you want to live....
  • #362,987
  • Feb 12, 2014 4:24am Feb 12, 2014 4:24am
gbp is challenging tl ,major support below
Attached Image (click to enlarge)
Click to Enlarge Name: GBPLFXDaily 12-2-13.png Size: 23 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #362,988
  • Feb 12, 2014 4:27am Feb 12, 2014 4:27am
Quoting chazzle
{quote} admit defeat - close and reverse
that's better - took profit - few moments too soon I see , but feck it
Attached Image (click to enlarge)
Click to Enlarge Name: gum15.PNG Size: 104 KB
  • #362,989
  • Edited 6:09am Feb 12, 2014 4:34am | Edited 6:09am
Hi, I'm using buy stop and sell stop to play GbpUsd. Using 15Minute chart. the range is 1.6445-1.6475. So, I place a buy stop at 1.6480, stop loss at 1.6440, profit target at 1.6540. Then I place a sell stop at 1.6440, stop loss at 1.6480, profit target at 1.6380. My capital usd150,000 and base on 2percent trading rules. my 40 pips stop loss is usd3000. So, I place 7.5 standard lots on my trades.
  • #362,990
  • Feb 12, 2014 4:36am Feb 12, 2014 4:36am
Interesting.
Fix up, trade sharp ...
  • #362,991
  • Feb 12, 2014 4:40am Feb 12, 2014 4:40am
Fake breakout? Carney does not like a strong pound for exports? Looks like the usual theatre ...
Fix up, trade sharp ...
  • #362,992
  • Feb 12, 2014 4:44am Feb 12, 2014 4:44am
above 483 for a retest of 525
  • #362,993
  • Feb 12, 2014 4:46am Feb 12, 2014 4:46am
Posted on monday. Remember 6460 level that i pointed out.
Pending short 6600 TP 6250.
Attached Image (click to enlarge)
Click to Enlarge Name: New Bitmap Image.jpg Size: 208 KB
  • #362,994
  • Feb 12, 2014 4:52am Feb 12, 2014 4:52am
Quoting Trader88q
Remember 6460 level that i pointed out.
I remember it well
  • #362,995
  • Feb 12, 2014 4:57am Feb 12, 2014 4:57am
Quoting chazzle
above 483 for a retest of 525
... although too much above is o/b for now imo
  • #362,996
  • Feb 12, 2014 4:59am Feb 12, 2014 4:59am
Quoting petetong
6668-6250 is clearly the immediate battleground...weekly chart shows it well...competing buyers and sellers...for the bulls it might prove a hard obstacle to overcome. Best Wishes. {image}

Horizontal lines strongest in the trend and since the daily support matches up with the monthly break out of the triangle I think the 250 is the level to hold or fail. The pound just looks heavy to me and the breakout has not been convincing in any way. I think any new highs could easily be pulled back into the range and like wise any break of the 250 could be pulled back into the range until we get more convincing fundamentals. I think both directions have a strong argument at the moment thats why I think we are ranging.

Nice charts
  • #362,997
  • Feb 12, 2014 5:02am Feb 12, 2014 5:02am
Like this 550 level for a short.
  • #362,998
  • Feb 12, 2014 5:10am Feb 12, 2014 5:10am
to say this is overbid is an understatement
no major rate rise next year.
  • #362,999
  • Feb 12, 2014 5:10am Feb 12, 2014 5:10am
I think the powers that be, ie the Boe and Uk Treasury would prefer a ranging currency likely in this moment between 1.50 and 1.70...what actually happens time will tell....it is up to our own analysis of the type we chose to gain an edge from as to how we view this .

Best Wishes.

Quoting squawk
{quote} Horizontal lines strongest in the trend and since the daily support matches up with the monthly break out of the triangle I think the 250 is the level to hold or fail. The pound just looks heavy to me and the breakout has not been convincing in any way. I think any new highs could easily be pulled back into the range and like wise any break of the 250 could be pulled back into the range until we get more convincing fundamentals. I think both directions have a strong argument at the moment thats why I think we are ranging. Nice charts...
it's all gone a bit........
  • #363,000
  • Feb 12, 2014 5:11am Feb 12, 2014 5:11am
loading shorts... wish me luck
525 traders viewing now, 3 are registered:
meugampong
,
,