Cable Update (GBPUSD)

Quoting HDA

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{quote} @Carlicus: Very Very Very Very Good We just have two last things to do and then We start explaining. Step 4: Please draw the fibs from A - 1.66591 to B - 1.69966 The .382 is 1.68655 The .50 is 1.68278 The .618 is 1.67859 Please tell me the D extension and colour that fib RED Make sure to leave the other THREE fibs on the chart HDA OUT

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Quoting Carlicus

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{quote} This is the updated chart. I guess your point is we should reach the 61.8% red retracement (1.67867 on my chart), and then continue to the red D or green D. {image}

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Quoting HDA

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{quote} @Carlicus: Put in a very THICK horizontal line showing the 2009 HIGH 1.7043 Now what do we know. Every D extension has been HIT to the PIP on all the previous FIB colours as we are moving to the GREEN D Would you agree so far? I only trade FACTS - I don't not think, I do not guess I TRADE FACTS Would you agree with everything so far? Then I will tie it all in HDA OUT

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Quoting Carlicus

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{quote} Yeah, I agree Continue, please. {image}

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Quoting HDA

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{quote} @Carlicus: When trading fibs - we must always trade the most recent AB - looking for the C to go to the D extension. So we are now looking for the C on the RED AB swing. What do we know? FACTS 1.7000 Options Barrier 1.6900 Large Bids 1.6880 Stong Support 1.68655 .382 Fib of the most recent RED AB swing Every Retrace is short lived On the MONTHLY we are in an ASCENDING Pennant approaching the Break Out Level 1.7043 The Trend is BULLISH on Monthly, Weekly, Daily Options Expiry for tomorrow NONE What do you infer from all those FACTS? HDA OUT...

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Quoting Carlicus

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{quote} I say we're testing near 1.69 first, and then go up to test 1.70 again, but since it is a DNT barrier, the people owning the options are trying to sell the hell so that 1.70 doesn't get touched, and you know DNT options are only used by heavy players. Do you infer anything different?

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Quoting Carlicus

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Thanks for sharing your views on GU Now it's time for me to sleep, it's almost 02:20 here! See you tomorrow

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Quoting iono

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Quick question, is there a convenient place/site to find where option barriers lay in order to plot on my charts? Thanks

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Quoting HDA

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{quote} @Carlicus: Once an Options Barrier is breached, even by a pip, that level is no longer valid. So we have to wait and see what happens and yes, the market wants to fill those bid at 1.6900 to move for 1.7043 hence my Take Profit at 1.7000 HDA OUT Sleep Well and CONGRATULATIONS on being such a well behaved colleague

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Quoting hoom

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{quote} such information could be found in order flow trading websites that provide these levels along with bids and offers .

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Quoting albchr

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{quote} I agree RR especially looking at this 4H. I just have to be very anal about entries for margin sake and the short swap on this pair is killer! But this right here does look like a good entry area. {image}

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Quoting ill_be_back

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{quote}

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Quoting gjgjg

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{quote} It's just hovering around 61.8 right now so it might wander up a bit before dropping again. I'm going to hang on until around .87 or bit lower before shorting as I have same issue of looking for more precise entry just my humble take on a narrow entry window for this one! http://www.forexfactory.com/showthre...40#post7456940

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Quoting srt

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{quote} The confusion starts because the fib tools don't draw it quite right. Unfortunately when you want to get the extensions (100%-161.8%) you need to draw the from B to A but to get the retracements correct you need to draw from A to B. I guess they should have a separate tool for each task.

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Quoting albchr

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{quote} What I find confusing is when adding the levels in I get different results. First off, I learned in an uptrend, zero is always the bottom. Downtrend zero the top. So drawing the way HDA described, you're right. So I figured ok, I'll just add a -1.618 to get the -161.8% extension beyond zero. Unfortunately, as you can see by this test chart, it plots the -161.8% where the "normal" 261.8 is?? lol The Green is the way I would normally draw it in an uptrend with zero at bottom. The Blue the way HDA described zero at top but with the -161.8%...

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Quoting srt

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{quote} Sorry, I didn't realize I could change the "levels" for the indi tool. As for getting the 161.8% extension, change the 161.8 to -.618 {image}

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Quoting hoss

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I have a feeling we are moving toward 1.6920 relatively soon.

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