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Cable Update (GBPUSD)

  • #373,821
  • Apr 29, 2014 4:08am Apr 29, 2014 4:08am
Quoting Ck87
{quote} Agreed but GBP never stays down.. always bring it back up. Just the way things go now.

it is a correction..remember it fell from 2 to 1.35..
there was bullish divergence which needed to play out
  • #373,822
  • Apr 29, 2014 4:09am Apr 29, 2014 4:09am
Quoting whitescalper
{quote} i can smell 100-150 pips move coming soon
sorry do you mean it will go down 100 regards
  • #373,823
  • Apr 29, 2014 4:10am Apr 29, 2014 4:10am
Quoting chazzle
{quote} sheeeeeeeeeeeeeeeettttttttt !!!!!!!!

i know i say this everyday
  • #373,824
  • Apr 29, 2014 4:10am Apr 29, 2014 4:10am
Little bit confused considering the P.A in Cable. Previous 4 attempts to test downside failed at 55 DMA & it bounced back. Today was the 5th attempt & looks it again failed. So, where are we heading...

Attached Image (click to enlarge)
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  • #373,825
  • Apr 29, 2014 4:11am Apr 29, 2014 4:11am
Quoting petetong
4hr channel - most of pa is in the dotted lines....indecision now in the market ? best wishes {image}

it wont surprise me if this thing went and broke the high now..nice spot
  • #373,826
  • Apr 29, 2014 4:11am Apr 29, 2014 4:11am
Quoting Ck87
Forex market such low volatility these days, wish I was around 5-6 years ago. Now I stick with indices for most part. Really pathetic what has been going on with EUR and GBP
if you mean indices like INDU or HSI they are out of control, volatilty is superhigh now and dangers are big as they dont like to retrace,

look at Hang Seng Index, today fell like 250 points, then went up like 500 poins almost in straight line 30 last minutes, no indicator worked.
  • #373,827
  • Apr 29, 2014 4:15am Apr 29, 2014 4:15am
GU 15

Not going to push this further

Done for the day - levels seem to still be valid.
Attached Image (click to enlarge)
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  • #373,828
  • Apr 29, 2014 4:16am Apr 29, 2014 4:16am
Quoting elbert3
{quote} sorry do you mean it will go down 100 regards
well that's what i am looking for down move closed my previous sell 6810 now holding on rest
  • #373,829
  • Apr 29, 2014 4:16am Apr 29, 2014 4:16am
price has broken the pivot 6814 and looks like rejection on the 15 min 6804 could load more ??/ lets see
  • #373,830
  • Apr 29, 2014 4:18am Apr 29, 2014 4:18am
I posted this on recently soon......technically I read that there is a higher probability of price going up than down [overall] and probably past those former swing highs at 6977 and 7039.

best wishes.
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it's all gone a bit........
  • #373,831
  • Apr 29, 2014 4:20am Apr 29, 2014 4:20am
GU Daily...

No volatility

Will need to stay scratching in the dustbins on this pair
Attached Image (click to enlarge)
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  • #373,832
  • Apr 29, 2014 4:20am Apr 29, 2014 4:20am
Quoting Forexgain
Little bit confused considering the P.A in Cable. Previous 4 attempts to test downside failed at 55 DMA & it bounced back. Today was the 5th attempt & looks it again failed. So, where are we heading... {image}

its pretty month the previous monthly high causing the headache..break of it will provide signal to sell the mofo
  • #373,833
  • Apr 29, 2014 4:20am Apr 29, 2014 4:20am
Quoting whitescalper
{quote} well that's what i am looking for down move closed my previous sell 6810 now holding on rest

moved my stop 1.6847 short from 6838 ( earlier )
  • #373,834
  • Apr 29, 2014 4:20am Apr 29, 2014 4:20am
Quoting acidguy
it still wanna attempt to go 1.70-72 then maybe collapse. really data was not bad at all, we just saw some position unwinding but new ones look like are getting opened for 1.7x travel.
... clear weaker bulls on news ? let's see - just closed my long (on news) at b/e so I'm sidelined for now on cable ...
  • #373,835
  • Apr 29, 2014 4:21am Apr 29, 2014 4:21am
Quoting acidguy
, no indicator worked.
maybe they don't, cos most of them lag?
what hours is the hang seng? if it's moving 500 points you don't need many percentage wise to get some in the bag
  • #373,836
  • Apr 29, 2014 4:21am Apr 29, 2014 4:21am
Quoting elbert3
{quote} hi are you clear now ?? i dont think we will se 6818 again soon if so short here this is where the 20 ema sits at this time looking on the 30 min i would like to see a closed candle below the 200 sma to add short
I'm out on my shorts. Both of them. Both on profit. According to my lines & dots this puppy is going north for a couple of hours...at a very slow speed ofcourse. I don't see much bears/bulls walking before 3pm.
A word to the wise ain't necessary - it's the stupid ones that need advice
  • #373,837
  • Apr 29, 2014 4:21am Apr 29, 2014 4:21am
Quoting JimmyC
GU Daily... No volatility Will need to stay scratching in the dustbins on this pair {image}

its neutralizing the the bullish divergence if u look at the macd and the effect this is having jimmy?
  • #373,838
  • Apr 29, 2014 4:22am Apr 29, 2014 4:22am
Quoting JimmyC
GU Daily... No volatility Will need to stay scratching in the dustbins on this pair {image}
Hi Jim i am taking short 6816,, G is going well right on target .. gl regards E
  • #373,839
  • Apr 29, 2014 4:25am Apr 29, 2014 4:25am
yes - average range over 20 days down to 64 today on this pair.. well below 130-40 longer time average....could just go to lower time frames as another strategy to ammend with these lower volatility time

Quoting JimmyC
GU Daily... No volatility Will need to stay scratching in the dustbins on this pair {image}
it's all gone a bit........
  • #373,840
  • Apr 29, 2014 4:28am Apr 29, 2014 4:28am
Quoting nAVIN2007
{quote} its neutralizing the the bullish divergence if u look at the macd and the effect this is having jimmy?

Each time it shows divergence to the bear side... it just gives a minor pull-back and then stumbles on North.

The loss of volatility here speaks to the amount of central bank intervention to maintain price stability

I dusted off the dustbin strat for this reason. We need some major event to move the volatility level back

....The market is beginning to look... Efficient -> trader death
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