Cable Update (GBPUSD)

Quoting Ken A

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{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

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Quoting kimisiow83

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{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...

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Quoting Ken A

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

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Quoting kimisiow83

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{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.

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Quoting Ken A

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{quote} I have another reason later BOJ might give G/J a boost {image}

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Quoting kimisiow83

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{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.

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Quoting Ken A

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{quote} For E/U still no sign of retrace and E/J is acting like a possum not going to short it

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Quoting kimisiow83

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{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}

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Quoting Ken A

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{quote} It will go to your direction sooner or later

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Quoting Ill-b-back

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Look to be soon retesting the high area of the bearish carney candle from about a month or so ago.

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Quoting kimisiow83

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{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.

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Quoting eurusd_trade

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{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

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Quoting eurusd_trade

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{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...

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Quoting GDR3k

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{quote} Hopefully

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Quoting eurusd_trade

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{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...

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Quoting Ill-b-back

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{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.

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