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Cable Update (GBPUSD)

  • #365,221
  • Feb 21, 2014 4:14am Feb 21, 2014 4:14am
weekly was shaping up to be dark cloud cover candle with a further drop today ? - is this still likely given this rally ? Last 1hr close was very bullish in itself. Monthly could still close as bullish engulfing ?

Best Wishes.
it's all gone a bit........
  • #365,222
  • Feb 21, 2014 4:15am Feb 21, 2014 4:15am
Quoting a16908
{quote} Brother that's not my answer, if have a proper answer for this up move with negative news then please explain.
sorry, I don't bother myself with "why?" when it comes to economic figures vs. market flow - I'm not sure how to get an edge from it ...
  • #365,223
  • Feb 21, 2014 4:17am Feb 21, 2014 4:17am
Quoting Zircon
{quote} The daily is overbought , but do not know which TF is trending bull market if it is gonna break the high?. the big picture says sell , and you see this pair still climbing???
In this market everything is possible, lot of volume untested near 1.677x so if it reaches there with the right PA i'll short it

Otherwise i'm shorting rallies with 1.64xx tp for now
COT: The precious data ignored
  • #365,224
  • Feb 21, 2014 4:20am Feb 21, 2014 4:20am
now that i have just read the figures, what happened there ???, i think we can forget going long ,but i will still hold the orders, we could get to 6604 depending on the news this afternoon , but as i said crazzzzy week 6528 looks good too, we might of seen the high at 68 if you go back and read the posts we were saying the same at the start of the year , about 6660 ish,
  • #365,225
  • Feb 21, 2014 4:22am Feb 21, 2014 4:22am
Lot of buy orders coming in at another important level to cause a spike like that against the data.
Attached Image (click to enlarge)
Click to Enlarge Name: Chart_GBP_USD_Hourly_snapshot.png Size: 36 KB
  • #365,226
  • Feb 21, 2014 4:22am Feb 21, 2014 4:22am
Quoting petetong
weekly was shaping up to be dark cloud cover candle with a further drop today ? - is this still likely given this rally ? Last 1hr close was very bullish in itself. Monthly could still close as bullish engulfing ? Best Wishes.
you don't need to ask yourself these questions - just leave the current (open) candle out of the analysis - it doesn't mean anything until it's closed
  • #365,227
  • Feb 21, 2014 4:23am Feb 21, 2014 4:23am
Quoting Davit
{quote} Its more about order flow.Big orders sometimes can't be unloaded without high liquidity hence MM sometimes create liquidity by pushing price opposite of their intended direction.This often refereed to as spike.Once everyone jumps in thinking its a breakout true orders start unloading going opposite way. This is why before most major moves price often "breakout" in opposite direction only to turn around abruptly. This is the number 1 reason why I trade on higher TF. Most retailers get caught or squeezed out in both directions when trading...
well said daviittt
A handful of patience is worth a bushel of brains
  • #365,228
  • Feb 21, 2014 4:24am Feb 21, 2014 4:24am
Quoting chazzle
{quote} you don't need to ask yourself these questions - just leave the current (open) candle out of the analysis - it doesn't mean anything until it's closed
It has closed for some people, lol. Not everyone's broker is the same.
All posts are my personal opinion
  • #365,229
  • Feb 21, 2014 4:25am Feb 21, 2014 4:25am
looks more like a bull trap for downward trend.
looking at the indicators there's still more room for downward movement before it picks up again to target 68.
my guess is heading toward between 63 and 64.
  • #365,230
  • Feb 21, 2014 4:26am Feb 21, 2014 4:26am
bitches don't have a sense of humor
With a good book and quality paper you can fine wipe your ass.
  • #365,231
  • Feb 21, 2014 4:26am Feb 21, 2014 4:26am
Inserted Video
With a good book and quality paper you can fine wipe your ass.
  • #365,232
  • Feb 21, 2014 4:28am Feb 21, 2014 4:28am
Quoting kuroro001
{quote} Trendlines ? Never heard about it, i could draw line anywhere on my chart and at some points they will work out. Bears is wild open to me...i didn't say it cannot go higher though hence i'll short if it ever goes up
Sorry mate if you haven't know about it. Probably I am too busybody to share my experience and view here.

Good Luck.
I am not the SMARTEST person in the world, I am the PERSISTENT one.
  • #365,233
  • Feb 21, 2014 4:28am Feb 21, 2014 4:28am
Quoting Rtm
{quote} It has closed for some people, lol. Not everyone's broker is the same.
weekly candle still open
  • #365,234
  • Feb 21, 2014 4:30am Feb 21, 2014 4:30am
Quoting shon9178
looks more like a bull trap for downward trend. looking at the indicators there's still more room for downward movement before it picks up again to target 68. my guess is heading toward between 63 and 64.
Agree... 64-6450 is my target before reversal.
Observation is the path to discovery.
  • #365,235
  • Feb 21, 2014 4:32am Feb 21, 2014 4:32am
Quoting chazzle
{quote} weekly candle still open
I see chaze, monthly too!
All posts are my personal opinion
  • #365,236
  • Feb 21, 2014 4:33am Feb 21, 2014 4:33am
add more shorts breaking 66625
  • #365,237
  • Feb 21, 2014 4:33am Feb 21, 2014 4:33am
Quoting Alorente
{quote} Agree... 64-6450 is my target before reversal.
Al nice to see you post here.We never met but I enjoyed reading your thread.
regards
In trading, you have to be defensive and aggressive at the same time
  • #365,238
  • Feb 21, 2014 4:35am Feb 21, 2014 4:35am
i have a short at 6628.....is it okey?
  • #365,239
  • Feb 21, 2014 4:35am Feb 21, 2014 4:35am
just being devil here...this last 1hr close is the biggest and probably most significant of the fall from 6823 ? Is it a game changer re more move up now ?

Best Wishes.
it's all gone a bit........
  • #365,240
  • Feb 21, 2014 4:40am Feb 21, 2014 4:40am
Quoting ffleo
{quote} short cable, long aussie. {image}
Again, long aussie and short cable.

Attached Image (click to enlarge)
Click to Enlarge Name: GA- i7860-TDA_122.png Size: 253 KB
ignore wackos and psychos, including myself. But I can't add myself to iggy
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