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Cable Update (GBPUSD)

  • #370,341
  • Apr 3, 2014 10:13am Apr 3, 2014 10:13am
my analysis on cable, from 1h chart, seems like we already have a hammer.

as long as price trading below 6590, i think we won't be getting significant correction or maybe we won't be seeing anything above 6600 area..
  • #370,342
  • Apr 3, 2014 10:29am Apr 3, 2014 10:29am
Quoting A-speculator
my analysis on cable, from 1h chart, seems like we already have a hammer. as long as price trading below 6590, i think we won't be getting significant correction or maybe we won't be seeing anything above 6600 area..
Yes exactly, Fibo level from low-high, 23.6%, 1.6593 (1.6569 - 1.6660), 50% 1.6614 and 61.8% 1.6625, as long as 23.6 hold, usually we will see deep continuation..

I think we still have a chance to see 61.8% pullback.... maybe it is need time for market to digest what US news released today....
  • #370,343
  • Apr 3, 2014 10:39am Apr 3, 2014 10:39am
Quoting Red Alert
{quote} Yes exactly, Fibo level from low-high, 23.6%, 1.6593 (1.6569 - 1.6660), 50% 1.6614 and 61.8% 1.6625, as long as 23.6 hold, usually we will see deep continuation.. I think we still have a chance to see 61.8% pullback.... maybe it is need time for market to digest what US news released today....
yeah, maybe.. anyway, during this time, there's only low liquidity left in the market, so i'm not having high expectation for cable to move in large scale..

the thing is, high of 1h hammer is about 6590, failure to break that price means no significant correction.. imho
  • #370,344
  • Apr 3, 2014 10:42am Apr 3, 2014 10:42am
Quoting tomspin
Took long from 1,6470 avg SL 10 pips TP 1,7175
adding here near mid, half initial position, will add at 1,6548 as well again half of that half position, will close all if continue lower.
swing it!
  • #370,345
  • Apr 3, 2014 10:44am Apr 3, 2014 10:44am
Quoting A-speculator
{quote} yeah, maybe.. anyway, during this time, there's only low liquidity left in the market, so i'm not having high expectation for cable to move in large scale.. the thing is, high of 1h hammer is about 6590, failure to break that price means no significant correction.. imho

its also close to tweezer type configuration, if you subscribe to such theories...might need a breach of 6595 to confirm...
Attached Image
Look Sharp/Trade Tight
  • #370,346
  • Apr 3, 2014 10:54am Apr 3, 2014 10:54am
Quoting A-speculator
{quote} yeah, maybe.. anyway, during this time, there's only low liquidity left in the market, so i'm not having high expectation for cable to move in large scale.. the thing is, high of 1h hammer is about 6590, failure to break that price means no significant correction.. imho
Yes, not to night, based on my calculation if it is must retrace, need 16 x 30 minutes candle, let say around next 7-8 hours, maybe tomorrow during Asian season, cable will attract buyers hoping pullback for 30-40 pips, ....

now i am waiting for harvesting of some position in Aussie
  • #370,347
  • Apr 3, 2014 10:56am Apr 3, 2014 10:56am
Quoting PayTheLimit
{quote} its also close to tweezer type configuration, if you subscribe to such theories...might need a breach of 6595 to confirm... {image}
that said, a more slippery idea would to be wait...if 6595 holds a while longer, the longs that bought against that 6570 fib, and said tweezer buyers might get ants in their pants..so a push under the lows will take them out, and one could buy it from them near 6560/62...for a scalp that is....might try this myself...
Look Sharp/Trade Tight
  • #370,348
  • Apr 3, 2014 10:56am Apr 3, 2014 10:56am
Quoting Red Alert
{quote} Yes, not to night, based on my calculation if it is must retrace, need 16 x 30 minutes candle, let say around next 7-8 hours, maybe tomorrow during Asian season, cable will attract buyers hoping pullback for 30-40 pips, ....
maybe it will just drifting south until tomorrow.. whatever it is, as long as that price intact, i'm pretty sure cable will not retrace..
  • #370,349
  • Apr 3, 2014 10:58am Apr 3, 2014 10:58am
Quoting PayTheLimit
{quote} that said, a more slippery idea would to be wait...if 6595 holds a while longer, the longs that bought against that 6570 fib, and said tweezer buyers might get ants in their pants..so a push under the lows will take them out, and one could buy it from them near 6560/62...for a scalp that is....might try this myself...
imho, not the time for playing against current movement.. better to find suitable entry for short..

just my 2 cents tho..
  • #370,350
  • Apr 3, 2014 11:00am Apr 3, 2014 11:00am
Quoting A-speculator
{quote} imho, not the time for playing against current movement.. better to find suitable entry for short.. just my 2 cents tho..
sure, I can agree with that...
Look Sharp/Trade Tight
  • #370,351
  • Apr 3, 2014 11:01am Apr 3, 2014 11:01am
ucad is playing nicely atm.. hopefully can get closed candle above the range.. or it will just go flat..
Attached Image (click to enlarge)
Click to Enlarge Name: usdcadh4.png Size: 56 KB
  • #370,352
  • Apr 3, 2014 11:04am Apr 3, 2014 11:04am
Quoting A-speculator
ucad is playing nicely atm.. hopefully can get closed candle above the range.. or it will just go flat.. {image}

whats the force in the bottom panel...
Look Sharp/Trade Tight
  • #370,353
  • Apr 3, 2014 11:06am Apr 3, 2014 11:06am
Quoting PayTheLimit
{quote} whats the force in the bottom panel...
that's force index
  • #370,354
  • Apr 3, 2014 11:08am Apr 3, 2014 11:08am
Quoting A-speculator
{quote} imho, not the time for playing against current movement.. better to find suitable entry for short.. just my 2 cents tho..
Sure, i am not interesting to buy pullback too risky, so far 1.6593 still hold...but i am not comfort to enter short at this level, let see tomorrow, if the price continuing south, then I will try find reasonable strong resistance area for scalp, after that maybe i can join the party....
  • #370,355
  • Apr 3, 2014 11:09am Apr 3, 2014 11:09am
Quoting A-speculator
{quote} that's force index

right, what does it measure?
Look Sharp/Trade Tight
  • #370,356
  • Apr 3, 2014 11:14am Apr 3, 2014 11:14am
Quoting Red Alert
{quote} Sure, i am not interesting to buy pullback too risky, so far 1.6593 still hold...but i am not comfort to enter short at this level, let see tomorrow, if the price continuing south, then I will try find reasonable strong resistance area for scalp, after that maybe i can join the party....
that's sounds right mate..
  • #370,357
  • Apr 3, 2014 11:16am Apr 3, 2014 11:16am
Quoting PayTheLimit
{quote} right, what does it measure?
google is your friend mate..

The Force Index is an indicator that uses price and volume to assess the power behind a move or identify possible turning points.

but i just use the indis for confirmation, not my trading decision.. best indis is still the PA itself.
  • #370,358
  • Apr 3, 2014 11:18am Apr 3, 2014 11:18am
this one ? http://www.forexfactory.com/attachme...5&d=1396504080

not euphoria follower
  • #370,359
  • Apr 3, 2014 11:26am Apr 3, 2014 11:26am
Quoting A-speculator
{quote} google is your friend mate.. The Force Index is an indicator that uses price and volume to assess the power behind a move or identify possible turning points. but i just use the indis for confirmation, not my trading decision.. best indis is still the PA itself.

may the force be with you then...
Look Sharp/Trade Tight
  • #370,360
  • Apr 3, 2014 11:26am Apr 3, 2014 11:26am
Quoting giveachance
{quote} ok i will happily take my loss if I am wrong but this person Beli really pisses me off. his contribution to this thread is horrible.

Show me please your contribution..please just one chart or something to belive in your words...
I never told someone to buy or sell,never told what am I doing,we are here to exchange opinions about fx,I trade by my self,dont need you to tell me where price going...
You know what...tell me please WHY price going now above 1.6615?Please,and why price wont go bellow 1.6560 and maybe you convince me...
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