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Cable Update (GBPUSD)

  • #367,061
  • Mar 4, 2014 5:29pm Mar 4, 2014 5:29pm
Quoting Zappa
{quote} You're not going to want to hear this, probably think I'm an asshole, but be VERY careful in putting any importance into fibs. Yet another popular "tool" that's worth what you paid for it, which I'm hoping was nothing, hehe. Planetary phases, trendlines, pitchforks, fibs, EW, Gann...only serves to confuse, make people feel smart and in control. Just look at the price on all timeframes and try to understand why it turned where it did. (Look back in history.) Gotta go now guys..

i like all views...

I think AU when it was approaching 1.10+ was a example....nobody knew when it would stop....extension fibos were being touted as possible points of unknown places it may find a ceiling....Silver was another example when it went parabolic to 50...

My only explanation for P/A is some alogarithim or internal thing in humans that equals x number of pips moved = possible reversal or continuance....again my observation.... I have some numbers I think the market moves, but i wont post them here..... thats my 2 cents about P/A....

your right everything else is just our way of making sense of fx / charts.....tea leaves for sure
  • #367,062
  • Mar 4, 2014 6:43pm Mar 4, 2014 6:43pm
Daily doji candle is bit worrying for my shorts , on the other side 5m chart looks like 78.6 acted as a support for todays range and it looks like it may break lower overnight

5m
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1D
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  • #367,063
  • Mar 4, 2014 8:04pm Mar 4, 2014 8:04pm
This Cable This Euro they are clinging not wanting to go down.

Face the inevitability.. All good things must go down so they can go up again later and not hold up traffic!

There are those who know, and there are those who don't know.
  • #367,064
  • Mar 4, 2014 8:05pm Mar 4, 2014 8:05pm
Quoting Zappa
{quote} You're not going to want to hear this, probably think I'm an asshole, but be VERY careful in putting any importance into fibs. Yet another popular "tool" that's worth what you paid for it, which I'm hoping was nothing, hehe. Planetary phases, trendlines, pitchforks, fibs, EW, Gann...only serves to confuse, make people feel smart and in control. Just look at the price on all timeframes and try to understand why it turned where it did. (Look back in history.) Gotta go now guys..
I think you will find the free platform fib tool on this pair very useful.
Come with me if you want to live....
  • #367,065
  • Mar 4, 2014 8:23pm Mar 4, 2014 8:23pm
Well let's face it, we are sitting on some pretty good support and around the top of the last bearish Carney candle.
Yellen is performing her Dovish act as expected, Gold is doing well as are equities.
It's a jungle out there.
Come with me if you want to live....
  • #367,066
  • Mar 4, 2014 8:27pm Mar 4, 2014 8:27pm
Quoting Ill-b-back
Well let's face it, we are sitting on some pretty good support and around the top of the last bearish Carney candle. Yellen is performing her Dovish act as expected, Gold is doing well as are equities. It's a jungle out there.
I'm bearish also, just waiting for some data consistency to make it break.
Come with me if you want to live....
  • #367,067
  • Mar 4, 2014 8:53pm Mar 4, 2014 8:53pm
so far not a good look to be long, wish all well
  • #367,068
  • Mar 4, 2014 9:53pm Mar 4, 2014 9:53pm
Quoting sunny0
{quote} Haha I guess I am a scalper too then! But I'm still getting to grips n reading the charts and just never know when it's a good time too take a position. Otherwise I'm sure I'd be in some profits now too!
did some scalping again but this time with AU, made about $1k profit.
  • #367,069
  • Mar 5, 2014 1:29am Mar 5, 2014 1:29am
gonna take some shorts at 6685, risk 10...
Look Sharp/Trade Tight
  • #367,070
  • Edited 2:50am Mar 5, 2014 1:30am | Edited 2:50am
long 66678 and 66642
  • #367,071
  • Mar 5, 2014 1:37am Mar 5, 2014 1:37am
Quoting elbert3
long 6678http://www.easyfreesmileys.com/smile...mileys-947.gif
i had to do it because i went short, im sorry
  • #367,072
  • Mar 5, 2014 1:39am Mar 5, 2014 1:39am
Quoting PoundTrader
{quote} i had to do it because i went short, im sorry
im flat now, this pair been fuck up for the pass two weeks, gbp/nzd is where the pips are at
  • #367,073
  • Mar 5, 2014 1:41am Mar 5, 2014 1:41am
Quoting PoundTrader
{quote}im flat now, this pair been fuck up for the pass two weeks, gbp/nzd is where the pips are at
Hello..

same is with EU...
  • #367,074
  • Mar 5, 2014 1:46am Mar 5, 2014 1:46am
Quoting taomql4
Looking to buy the GU(4hr) .. I'm expecting the pair to move up , but catching the bottom is a little tricky on this one .. Pattern NOT always exact .. The 1hr supply is in the way , and has to be absorbed .. Might have to watch with one eye closed .. Nite ... {image}
It's been more than Tricky , more like HELLISH ..lol .. And I still don't know if it's the bottom of the Last leg of the W pattern..Bottom seems to be lower
I have some 4hr supply ahead of my order ..don't know what's that Gonna do ..
Set my SL , don't care any more at this point . Gotta hit the sheets ..

Nite ..
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  • #367,075
  • Mar 5, 2014 1:52am Mar 5, 2014 1:52am
Quoting PoundTrader
{quote}im flat now, this pair been fuck up for the pass two weeks, gbp/nzd is where the pips are at
did you make a few pips then ??
  • #367,076
  • Mar 5, 2014 1:58am Mar 5, 2014 1:58am
Waiting for this Dam to burst.
Come with me if you want to live....
  • #367,077
  • Mar 5, 2014 2:01am Mar 5, 2014 2:01am
If services pmi is positive, sterling pairs are going to absolutely fly on bullish technicals, but if the numbers are bad, we will have confusion on the charts.
  • #367,078
  • Mar 5, 2014 2:02am Mar 5, 2014 2:02am
Quoting Ill-b-back
Waiting for this Dam to burst.

which dam? what TF?
Look Sharp/Trade Tight
  • #367,079
  • Mar 5, 2014 2:09am Mar 5, 2014 2:09am
Quoting chazzle
bears look set to retake 655
trying this - 690 holds for 630 is what I'm thinking
  • #367,080
  • Mar 5, 2014 2:19am Mar 5, 2014 2:19am
Quoting cat
If services pmi is positive, sterling pairs are going to absolutely fly on bullish technicals, but if the numbers are bad, we will have confusion on the charts.
last 3 months were negative but still did not stop cable from climbing.
If last 3 months were red I don't see why this month after floods and slow winter would be green.
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