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Cable Update (GBPUSD)

  • #365,081
  • Feb 20, 2014 2:40pm Feb 20, 2014 2:40pm
Quoting 45Condor
{quote} I can't miss the opportunity... and one from one of the nutcases that frequents this thread. Written by a member of Forex Factory, for members of Forex Factory, and also beyond, the blurb for the book goes like this: For the 95 percent of currency traders that fail to make it rich, come and join a fellow sufferer for a week of ups and downs. For Pip’s Sake! will leave you nodding in agreement at how the currency markets often confuse. Angry at how the political and economic industries leave you last in the queue. Laughing at how the author...
Thats good. I like it..
  • #365,082
  • Feb 20, 2014 2:43pm Feb 20, 2014 2:43pm
Quoting spinozagr
{quote} George Soros, mate...
Oh really? I though I read something written by Warren Buffet if I am not wrong.
I am not the SMARTEST person in the world, I am the PERSISTENT one.
  • #365,083
  • Feb 20, 2014 2:51pm Feb 20, 2014 2:51pm
Quoting kimisiow83
{quote} Oh really? I though I read something written by Warren Buffet if I am not wrong.
http://www.investopedia.com/articles...zing-forex.asp

if you read this article… somewhere in it you will see it...
The good thing with the future is that it is progressively approaching...
  • #365,084
  • Feb 20, 2014 2:54pm Feb 20, 2014 2:54pm
Quoting spinozagr
{quote} http://www.investopedia.com/articles...zing-forex.asp if you read this article… somewhere in it you will see it...
Oh, thanks for the info. I read on this words I think 1 or 2 years ago, but I can't remember which book I get this words actually. Doesn't matter who write this, important are we understand the words meaning, don't we?

Regards
I am not the SMARTEST person in the world, I am the PERSISTENT one.
  • #365,085
  • Feb 20, 2014 3:12pm Feb 20, 2014 3:12pm
Quoting kimisiow83
{quote} Oh, thanks for the info. I read on this words I think 1 or 2 years ago, but I can't remember which book I get this words actually. Doesn't matter who write this, important are we understand the words meaning, don't we? Regards

“THERE IS ONLY one class in the community that thinks more about money than the rich, and that is the poor.” Oscar Wilde
Author of: For Pip's Sake! (Available at Amazon... :-) )
  • #365,086
  • Edited 3:31pm Feb 20, 2014 3:16pm | Edited 3:31pm
Consolidation Down Move market on 1H, Complete Move on 4H, 4 pullback bearish candle as no 2 wave on DAILY. What happen tomorrow before closing? Dice results or still on ranging? Anyway, I believe next week will be action market on cable no matter which way its go instead of this boring week. BULL will create so much opportunity for me, BEAR means I got to say bye bye to cable. Pretty happy with my result so far, and if someone notice on the beginning of week, I already forecast and expect a pullback of 100-150 pips to 1.6670 during my conversation with eurusd_trade, a bit lower than I expected currently but at least I am still in play now. Should be happy even if it goes BEAR now. Good Luck guys.
I am not the SMARTEST person in the world, I am the PERSISTENT one.
  • #365,087
  • Feb 20, 2014 3:28pm Feb 20, 2014 3:28pm
Bugger me, will this thing ever move decisively through this WP?

As mentioned over the past couple of days, the yellow horizontal line seems to represent a current topping in PA, and also coincides with the highs reached in 2011.

The economics being printed in the UK at present are not exactly reasons for any rally, and with money wanting to find somewhere safe to catch its breath, I’m thinking that perhaps state-side is the first port of call.

The events in the Ukraine aren’t helping inspire confidence in the stability of Europe – yes, I understand it is not part of Europe, yet – and so with Sterling’s squabbling Sister (EU) throwing a bit of hissy fit at present, I don’t see why money would run to a London that relies heavily upon its energy market being supplied by a proxy state to a belligerent bear that, due to the Olympics, seems to be in hibernation at present.

Tomorrow we have the UK retail sales, and with the figure being for the month following the Christmas rush to spend, the figures may well disappoint, and help Sterling to move south, and thus proceed back on down to the 61. 8 FE at 1.64.

(Hmm, Dollar looks to be wanting to have a look further north)
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Author of: For Pip's Sake! (Available at Amazon... :-) )
  • #365,088
  • Feb 20, 2014 3:33pm Feb 20, 2014 3:33pm
Quoting 45Condor
{quote} “THERE IS ONLY one class in the community that thinks more about money than the rich, and that is the poor.” Oscar Wilde
That's also the weak point for the poor, they will be anxious and make more mistake when they think too much about MONEY. - by MYSELF
I am not the SMARTEST person in the world, I am the PERSISTENT one.
  • #365,089
  • Feb 20, 2014 3:40pm Feb 20, 2014 3:40pm
Quoting 45Condor
Bugger me, will this thing ever move decisively through this WP? As mentioned over the past couple of days, the yellow horizontal line seems to represent a current topping in PA, and also coincides with the highs reached in 2011. The economics being printed in the UK at present are not exactly reasons for any rally, and with money wanting to find somewhere safe to catch its breath, I’m thinking that perhaps state-side is the first port of call. The events in the Ukraine aren’t helping inspire confidence in the stability of Europe – yes, I understand...
.666 is the devil. I closed most of my short that I have held for over a week. I still have a bearish bias but the price action doesn't look appealing for a further drop.
  • #365,090
  • Feb 20, 2014 3:47pm Feb 20, 2014 3:47pm
Quoting capitulation
{quote} .666 is the devil. I closed most of my short that I have held for over a week. I still have a bearish bias but the price action doesn't look appealing for a further drop.
Someone mentioned earlier today that volume picked up significantly each time PA hit the WP. I'm not a VSA convert - yet - but it does smack of intervention to protect the level. What for, I'm not sure, but it is frustrating my short, that's for sure.
Author of: For Pip's Sake! (Available at Amazon... :-) )
  • #365,091
  • Feb 20, 2014 3:50pm Feb 20, 2014 3:50pm
Quoting capitulation
{quote} .666 is the devil. I closed most of my short that I have held for over a week. I still have a bearish bias but the price action doesn't look appealing for a further drop.

At last, I saw another pro here. 1.666 indeed is the devil of the whole thing. Get back to 3 weeks ago, it was rejected from 1.666 all the way back down to 1.62xx. So far, it is neutral to me now. Only a break of .60x will open the BEARISH door. Otherwise, it will remain on neutral and above.

Good Luck Mate.
I am not the SMARTEST person in the world, I am the PERSISTENT one.
  • #365,092
  • Feb 20, 2014 3:54pm Feb 20, 2014 3:54pm
Quoting Davit
{quote} If one deduces logically.Overall up move was based upon positive stellar expectation of UK numbers plus Carney's forward guidance and possible IR raise in near term. Fact1. UK numbers mostly were negative Fact2. IR raise is 1.5-2yr away and that depends how economy will perform in the future Observation on price.Price travels least resistance.Between Bull and Bear right now Bear is least resistance
This is your opinion, certainly not a fact of any sort.
  • #365,093
  • Feb 20, 2014 3:55pm Feb 20, 2014 3:55pm
I hope this is a sign of RISK OFF things to come.

I don't use BB's but I observe them at 55 setting, and statistically speaking, we close below that GU 4hr dark blue 55EMA and it's dam busting time.

Patience.....

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Come with me if you want to live....
  • #365,094
  • Feb 20, 2014 4:08pm Feb 20, 2014 4:08pm
DXY 4H

  1. Note after the bullish start to the day
  2. we form a hanging man
  3. A gravestone doji and;
  4. 2 hours into the last candle we are a doji

Lets note that this is a supportive sign for the major crosses and is *obviously* bearish for the $DXY

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  • #365,095
  • Feb 20, 2014 4:20pm Feb 20, 2014 4:20pm
Quoting JimmyC
DXY 4H Note after the bullish start to the day we form a hanging man A gravestone doji and; 2 hours into the last candle we are a doji Lets note that this is a supportive sign for the major crosses and is *obviously* bearish for the $DXY {image}
Means BULL or BEAR for the DOLLAR?
I am not the SMARTEST person in the world, I am the PERSISTENT one.
  • #365,096
  • Feb 20, 2014 4:20pm Feb 20, 2014 4:20pm
Quoting JimmyC
DXY 4H Note after the bullish start to the day we form a hanging man A gravestone doji and; 2 hours into the last candle we are a doji Lets note that this is a supportive sign for the major crosses and is *obviously* bearish for the $DXY {image}


Can't say that I disagree, and when I look at the Dollar according to FXCM - only four currency pairs in the basket - it does concur somewhat with your analysis.

I would say, however, that the DP and WP on my, admittedly, less-observed Dixy chart for the market, may provide some support. UC also seems to have found the familiar support from the descending magenta TL. (I've been talking about that line for a few years now)

And I've found support with the second glass of Corsican Rose that I am currently holding here in France. I will crumble very shortly, that's for sure.

Dollar daily
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Dollar pivots
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UC monthly
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UC weekly
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UC daily
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Author of: For Pip's Sake! (Available at Amazon... :-) )
  • #365,097
  • Feb 20, 2014 4:24pm Feb 20, 2014 4:24pm
Quoting kimisiow83
{quote} Means BULL or BEAR for the DOLLAR?
It is swing high (lower high) for the dollar and shows reversal of the short term uptrend

Its bearish for the dollar
  • #365,098
  • Feb 20, 2014 4:26pm Feb 20, 2014 4:26pm
Quoting 45Condor
{quote} Can't say that I disagree, and when I look at the Dollar according to FXCM - only four currency pairs in the basket - it does concur somewhat with your analysis. I would say, however, that the DP and WP on my, admittedly, less-observed Dixy chart for the market, may provide some support. UC also seems to have found the familiar support from the descending magenta TL. (I've been talking about that line for a few years now) And I've found support with the second glass of Corsican Rose that I am currently holding here in France. I will crumble...
  • #365,099
  • Feb 20, 2014 4:27pm Feb 20, 2014 4:27pm
Quoting 45Condor
{quote} Someone mentioned earlier today that volume picked up significantly each time PA hit the WP. I'm not a VSA convert - yet - but it does smack of intervention to protect the level. What for, I'm not sure, but it is frustrating my short, that's for sure.
This is the level where the buyers overcame the sellers at the last distribution of orderflow before the last leg up leaving a significant gap behind. The first gap to fill in reversing price always seems to be the toughest because its the first run into serious supply of buyers.
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  • #365,100
  • Feb 20, 2014 4:30pm Feb 20, 2014 4:30pm
Quoting JimmyC
{quote} It is swing high (lower high) for the dollar and shows reversal of the short term uptrend Its bearish for the dollar
Actually I am absolutely neutral now for the Cable. No idea which way its go now, but near my exit point to failed setup to keep the profit running. But your posted chart candle shows me really good form of candle that support a bearish, and of course is BULLISH for the Cable if the Dollar is BEARISH.
I am not the SMARTEST person in the world, I am the PERSISTENT one.
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