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Cable Update (GBPUSD)

  • #369,001
  • Mar 21, 2014 11:19am Mar 21, 2014 11:19am
Yes it is seating 61 f level in daily ???
If skills could be acquired by watching, every dog would be a butcher. Turk
  • #369,002
  • Mar 21, 2014 11:37am Mar 21, 2014 11:37am
I'm long from here based on the index's, both GBP and USD are working off bullish fibs and fans, with the US is working it's way to retest the 78% (could break through to the 88%) while the GBP has held so far on the 78% (again could break through to 88%) but will see by this hour close, if both drop then we'll be looking at it ranging till next week I believe


Daily GU charts show similar levels too;
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  • #369,003
  • Mar 21, 2014 11:39am Mar 21, 2014 11:39am
ok if you say so ,if it goes there next week I feel that pivot is in big danger ,based on what then the monthly would look like ,


Quoting lonewolf1
{quote} Like i said in my original post, until it breaches the 6480 area which it still has yet to do. I wouldn't be shorting it at all. Now if it does break that level by 50-60 pips and then pulls back i could consider shorting. Until then my thoughts are still long. I don't need a lesson on longer time frame trading from you, but thanks. Even on a weekly chart the next major area is 6340. I can buy here, and buy at that level as well. No way in hell it gets to that level and doesn't have a move up for atleast a few hundred pips.
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #369,004
  • Mar 21, 2014 11:42am Mar 21, 2014 11:42am
already what the monthly has done ,off a major pivot ,you can see how it reacts to this level ,
Attached Image (click to enlarge)
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #369,005
  • Mar 21, 2014 11:45am Mar 21, 2014 11:45am
Hi Z ,hows it going ,

Quoting Zircon
Hi B, Weekly is bearish for sure, looks like the trend changed??
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #369,006
  • Mar 21, 2014 11:46am Mar 21, 2014 11:46am
Quoting Bones
already what the monthly has done ,off a major pivot ,you can see how it reacts to this level , {image}

Wait, we were discussing a weekly chart. Now you have gone to a monthly to support your theory. We originally were discussing a four hour chart. So whats next for you a yearly chart?
  • #369,007
  • Mar 21, 2014 11:54am Mar 21, 2014 11:54am
Quoting lonewolf1
{quote} Like i said in my original post, until it breaches the 6480 area which it still has yet to do. I wouldn't be shorting it at all. Now if it does break that level by 50-60 pips and then pulls back i could consider shorting. Until then my thoughts are still long. I don't need a lesson on longer time frame trading from you, but thanks. Even on a weekly chart the next major area is 6340. I can buy here, and buy at that level as well. No way in hell it gets to that level and doesn't have a move up for atleast a few hundred pips.
do you hold long positions at this time and if so were did you go long ?? again can you post your charts did you go long were you said there was a double bottom, if not why if i were trading long a double bottom off a support line has to be a green light to a bull trader, would you not think ?/
  • #369,008
  • Mar 21, 2014 12:02pm Mar 21, 2014 12:02pm
Quoting lonewolf1
{quote} Wait, we were discussing a weekly chart. Now you have gone to a monthly to support your theory. We originally were discussing a four hour chart. So whats next for you a yearly chart?
Sorry, your attitude still stinks.

Quoting Mr. Scott
{quote} Sorry bro, this is a Club of respect and camaraderie. If you are not here to help, then why are you here? https://www.youtube.com/watch?featur...&v=MT3nrkPdbG4
Inserted Video
The world you desire can be won. It exists.. it is real.. it is possible..
  • #369,009
  • Mar 21, 2014 12:29pm Mar 21, 2014 12:29pm
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This is my chart look at daily
GELORE
  • #369,010
  • Mar 21, 2014 12:35pm Mar 21, 2014 12:35pm
lol im not going there its bullish
its relevant bearish w1 ,m1,


Quoting lonewolf1
{quote} Wait, we were discussing a weekly chart. Now you have gone to a monthly to support your theory. We originally were discussing a four hour chart. So whats next for you a yearly chart?
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #369,011
  • Mar 21, 2014 1:12pm Mar 21, 2014 1:12pm
Hmmmm, seems ff had that news wrong, I've closed out my trades as this news after market close is far too risky imo,
  • #369,012
  • Mar 21, 2014 1:21pm Mar 21, 2014 1:21pm
to me its technically its good to short eu for a few hundred pips
Attached Image (click to enlarge)
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #369,013
  • Mar 21, 2014 1:34pm Mar 21, 2014 1:34pm
"long term" short on usdcad at 216 sl 266
With a good book and quality paper you can fine wipe your ass.
  • #369,014
  • Mar 22, 2014 2:57am Mar 22, 2014 2:57am
I know that you are very skeptical. I can not prove anything. But I can try to show. I will work with eur/usd because I have more graphics.

Quoting godim
{quote} The price lost the support. I close long. I've set the stop level of 3797. I do not expect today for something to happen. {image}

Remember the graph of M15 and the loss of support. What happened? Nothing interesting. Price continue to move on the yellow line. On the side of the resistance.
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So as I was already guessed. But that's not what I want to show. I want to show what that line is and where he appeared on the chart. First, this line is not an indicator. It is part of a tool. The tool is called "Fan of Gann". This fan was built a long time ago. From the bottom 1,2046 of 24.07.2012 year.
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Think! How is that possible with this tool to find such a strong influence?
"You have to BE before you can DO, and DO before you can HAVE." Zig Ziglar
  • #369,015
  • Mar 22, 2014 2:58am Mar 22, 2014 2:58am
Hmm… as some may know, I’ve been targeting the 1.64 level on the 61.8 FE, and had been thinking that this would coincide with the Dollar (FXCM-weighted) touching the 100 FE at 1061.

I’m not sure if this is still on the cards – the Guppy profiles for both Cable and the Dollar are not exactly convincing, at present, for major trend changes - and although I think that Cable is due/currently going through a correction at these current highs, the fact remains that the manipulation of currencies is even more prevalent than it was back in 2011 and 2009.

Cable weekly
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Cable daily
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Dollar weekly
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Dollar daily
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Author of: For Pip's Sake! (Available at Amazon... :-) )
  • #369,016
  • Mar 22, 2014 5:43am Mar 22, 2014 5:43am
Howzit GU!

Daily (line chart) kiss principal

Pure technical review, I assume you would have experience FOMC and the interest rate comments those will be relevant going forward and will be a macro theme combined with Carney saying he's not going for interest rates yet...

Price broke to the downside week past and appears to be breaking the uptrend, this may usually indicate some bearish chop and then a return to the uptrend.

Let me draw your attention to the RSI, there is a green support there which has for some time been respected, this support has broken and the RSI looks to be heading into oversold territory, the significance being an early indication of a the downtrend initiating.

I believe the longer term trader and position traders would be looking to target 1.626 support and lower targets. The 1.705 swing target now appears to be getting out of reach

Good luck and trade safe.
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  • #369,017
  • Mar 22, 2014 6:52am Mar 22, 2014 6:52am
Maybe a be a false break ?


Quoting JimmyC
Howzit GU! Daily (line chart) kiss principal Pure technical review, I assume you would have experience FOMC and the interest rate comments those will be relevant going forward and will be a macro theme combined with Carney saying he's not going for interest rates yet... Price broke to the downside week past and appears to be breaking the uptrend, this may usually indicate some bearish chop and then a return to the uptrend. Let me draw your attention to the RSI, there is a green support there which has for some time been respected, this support has...
  • #369,018
  • Edited 9:31am Mar 22, 2014 7:10am | Edited 9:31am
Quoting trexy123
Maybe a be a false break ? {quote}
Note the RSI, hasn't been there for months, in fact since Ben gave his speech about keeping the money tap open, it's not a false, its quite a definitive change in the technical picture
  • #369,019
  • Mar 22, 2014 8:21am Mar 22, 2014 8:21am
Looks to me like 6345 area next significant stop.
From there it could well turn north again on its relentless drive to 1.73.
a weekly close below that could see us retest the 38.2 fib of the 48xx/68xx swing low/high (can't remember that price level).
Come with me if you want to live....
  • #369,020
  • Mar 22, 2014 9:26am Mar 22, 2014 9:26am
Quoting Ill-b-back
Looks to me like 6345 area next significant stop. From there it could well turn north again on its relentless drive to 1.73. a weekly close below that could see us retest the 38.2 fib of the 48xx/68xx swing low/high (can't remember that price level).
i am aiming for her to 6345 .... 6250
let's see how it turns out next week or two
my take on G/U here
http://www.forexfactory.com/showthre...00#post7357000

cheers
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