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Cable Update (GBPUSD)

  • #364,241
  • Feb 17, 2014 2:39pm Feb 17, 2014 2:39pm
Quoting Ken A
{quote} I think if your account is over half a bil you will get complete 7 candles per week and less than that only 5 But hey don't feel bad about it
Oh I see, but I never trade full 7 candles before. Probably the evening doji are good maybe. I prefer to believe the nice Morning Doji on WEEKLY. But where will this failed lead? 1.667x or 1.664x ??? 1.664x are just on the bottom of channel with support? Headache...
I am not the SMARTEST person in the world, I am the PERSISTENT one.
  • #364,242
  • Feb 17, 2014 2:43pm Feb 17, 2014 2:43pm
Quoting kimisiow83
{quote} Oh I see, but I never trade full 7 candles before. Probably the evening doji are good maybe. I prefer to believe the nice Morning Doji on WEEKLY. But where will this failed lead? 1.667x or 1.664x ??? 1.664x are just on the bottom of channel with support? Headache...


If PA is moving based on fib ratio, next is either test 1.68241 or 1.65884

If Friday Mid holds then to the upside and vice versa

Long risking few pips with 50 pips trailing
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  • #364,243
  • Feb 17, 2014 2:47pm Feb 17, 2014 2:47pm
I'm new here, first post I think haha. I've been creeping awhile. My robot has been loose today. Closed off 48 pips of profit so far today (shorting .01).
  • #364,244
  • Feb 17, 2014 2:51pm Feb 17, 2014 2:51pm
Quoting Ken A
{quote} If PA is moving based on fib ratio, next is either test 1.68241 or 1.65884
Actually I believe more it will test on 1.682x, but I am looking at the most possibilities for this retrace. To me, 1.667x might be the best, because it will bring the whole thing back to 1.682x or probably 1.687x. Might get some clue on AUD/USD move later on Asian Session. I think GBP/AUD will give me some better hint probably to decide on Cable. Hope it works.
I am not the SMARTEST person in the world, I am the PERSISTENT one.
  • #364,245
  • Feb 17, 2014 2:56pm Feb 17, 2014 2:56pm
Quoting kimisiow83
{quote} Actually I believe more it will test on 1.682x, but I am looking at the most possibilities for this retrace. To me, 1.667x might be the best, because it will bring the whole thing back to 1.682x or probably 1.687x. Might get some clue on AUD/USD move later on Asian Session. I think GBP/AUD will give me some better hint probably to decide on Cable. Hope it works.
I have another reason later BOJ might give G/J a boost
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  • #364,246
  • Feb 17, 2014 3:01pm Feb 17, 2014 3:01pm
Quoting Ken A
{quote} I have another reason later BOJ might give G/J a boost {image}
Yeah, I might consider to look for clue on AUD and JPY actually. EUR/USD shows nothing, but I expect to see failed on AUD. If AUD failed, and G/J boost, then it is a good hint to me since E/U are on neutral. Especially I feel that U/C support was too weak and won't hold for long.
I am not the SMARTEST person in the world, I am the PERSISTENT one.
  • #364,247
  • Feb 17, 2014 3:03pm Feb 17, 2014 3:03pm
Quoting kimisiow83
{quote} Yeah, I might consider to look for clue on AUD and JPY actually. EUR/USD shows nothing, but I expect to see failed on AUD. If AUD failed, and G/J boost, then it is a good hint to me since E/U are on neutral. Especially I feel that U/C support was too weak and won't hold for long.
For E/U still no sign of retrace and E/J is acting like a possum not going to short it
  • #364,248
  • Feb 17, 2014 3:12pm Feb 17, 2014 3:12pm
Quoting Ken A
{quote} For E/U still no sign of retrace and E/J is acting like a possum not going to short it
Holding a lot of those, and couple of SELL since 1.681, I don't know where should I TP on SELL actually, quite confusing.
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I am not the SMARTEST person in the world, I am the PERSISTENT one.
  • #364,249
  • Feb 17, 2014 3:16pm Feb 17, 2014 3:16pm
Quoting kimisiow83
{quote} Holding a lot of those, and couple of SELL since 1.681, I don't know where should I TP on SELL actually, quite confusing. {image}
It will go to your direction sooner or later
  • #364,250
  • Feb 17, 2014 3:17pm Feb 17, 2014 3:17pm
Look to be soon retesting the high area of the bearish carney candle from about a month or so ago.
Come with me if you want to live....
  • #364,251
  • Feb 17, 2014 3:19pm Feb 17, 2014 3:19pm
Quoting Ken A
{quote} It will go to your direction sooner or later
Hopefully I am right. But I still have couple of SELL, still looking for where to EXIT. But I think at least to wait on 1.667x, or else exit on 1.676x if it can't go more.

Thanks for your info mate.
I am not the SMARTEST person in the world, I am the PERSISTENT one.
  • #364,252
  • Feb 17, 2014 3:23pm Feb 17, 2014 3:23pm
Quoting Ill-b-back
Look to be soon retesting the high area of the bearish carney candle from about a month or so ago.
Hopefully
  • #364,253
  • Feb 17, 2014 3:24pm Feb 17, 2014 3:24pm
Quoting kimisiow83
{quote} Hopefully I am right. But I still have couple of SELL, still looking for where to EXIT. But I think at least to wait on 1.667x, or else exit on 1.676x if it can't go more. Thanks for your info mate.
Too many people looking at 1.667x. If you buy at 0x you probably won't be buying the local highs, but we also may not just go all the way back to 1.68. 1.67 isn't going to crack in a straightforward way. however.
The last 10 pips, and in this case, the last 30pips are always the hardest to make, if the level ever goes at all. It's a large source of variance and a waste of time/margn for the intraday trader. I understand a longer-term trader such as yourself may be more sensitive to specific levels but for intraday it's a cover and move on kind of situation for me.
  • #364,254
  • Feb 17, 2014 3:28pm Feb 17, 2014 3:28pm
Quoting eurusd_trade
{quote} Too many people looking at 1.667x. If you buy at 0x you probably won't be buying the local highs, but we also may not just go all the way back to 1.68. I
Yeah mate. I am looking where actually should I EXIT my SELL since yesterday with our conversation. 1.681, 1.676, 1.674. Bunch of SELL here to EXIT and no intend to BUY 1st. Probably wait till Wednesday and look what we will have.
I am not the SMARTEST person in the world, I am the PERSISTENT one.
  • #364,255
  • Feb 17, 2014 3:31pm Feb 17, 2014 3:31pm
Considering to exit all my SELL on 1.676, and final 1.667 if it can reach there. It is still in good profit even if I exit all SELL on 1.676 actually.
I am not the SMARTEST person in the world, I am the PERSISTENT one.
  • #364,256
  • Feb 17, 2014 3:32pm Feb 17, 2014 3:32pm
Quoting eurusd_trade
{quote} Too many people looking at 1.667x. If you buy at 0x you probably won't be buying the local highs, but we also may not just go all the way back to 1.68. 1.67 isn't going to crack in a straightforward way. however. The last 10 pips, and in this case, the last 30pips are always the hardest to make, if the level ever goes at all. It's a large source of variance and a waste of time/margn for the intraday trader. I understand a longer-term trader such as yourself may be more sensitive to specific levels but for intraday it's a cover and move on...
Anytime for me I hear people say bounce or break, especially in a quiet market I always just cover. Because almost all of the time "bounce or break" means bounce 3 times to varying degrees maybe even .5%+ away and then maybe break once (or miss). The risk/reward is terrible. It's not worth the agony to hold a position until there's actually volume and activity in the market.

Most levels break when people aren't paying attention, it goes easily the first time. When people are staring at something wondering if it'll go, move on to a different pair.
  • #364,257
  • Feb 17, 2014 3:34pm Feb 17, 2014 3:34pm
Price will go up at least a hundred pip more before it goes bearish
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  • #364,258
  • Feb 17, 2014 3:36pm Feb 17, 2014 3:36pm
Quoting GDR3k
{quote} Hopefully
120 or so pip drop on a bank holiday, nice to see some much missed volatility in this pair.
I don't think it's any coincidence we seeing increases in volatility since breaking north of the multi year descending TL
good sign for things to come.
Come with me if you want to live....
  • #364,259
  • Feb 17, 2014 3:38pm Feb 17, 2014 3:38pm
Quoting eurusd_trade
{quote} Anytime for me I hear people say bounce or break, especially in a quiet market I always just cover. Because almost all of the time "bounce or break" means bounce 3 times to varying degrees maybe even .5%+ away and then maybe break once (or miss). The risk/reward is terrible. It's not worth the agony to hold a position until there's actually volume and activity in the market. Most levels break when people aren't paying attention, it goes easily the first time. When people are staring at something wondering if it'll go, move on to a different...
Yes, I know what you mean. But normally, I feel my numbers are pretty accurate, so it is worth for me to wait even though sometime I was wrong. But I really not intend to have more BUY now actually although very high possibilities it will go back to 1.682x or 1.687x at this moment. I agree, too quiet market now, it was risky now to make any decision for further buy.
I am not the SMARTEST person in the world, I am the PERSISTENT one.
  • #364,260
  • Feb 17, 2014 3:42pm Feb 17, 2014 3:42pm
Quoting Ill-b-back
{quote} 120 or so pip drop on a bank holiday, nice to see some much missed volatility in this pair. I don't think it's any coincidence we seeing increases in volatility since breaking north of the multi year descending TL good sign for things to come.
Indeed, a lot of gbp pairs have increased in volatility recently and they're mostly all I trade now, I haven't been near eurusd in months, the PA on that pair is a mess
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