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Cable Update (GBPUSD)

  • #380,081
  • Jun 3, 2014 9:06am Jun 3, 2014 9:06am
Quoting OnlineAddict
{quote} Bigger chance for 1.6850 then 1.67, I think.

Cables lost at moment... I missed the entry at 1.6720, i seen it for other reasons and not for the 50% of the Weekly wick which would ahve got my attention more but to the naked eye it didn't look pretty.

With regards to both your opinions I'm on the fence... if we see 1.67 before 1.6840 then we will crash 168.40 and try and make a double top... however, if we see 1.6840 first before 1.67 area then I think 16840 could cap us and take us lower forming a bearish gartley, that's my opion, I'm staying out of cable until it reaches 1.6708 area then would look to buy or 1.6697 area and if it goes up will short 1.6810/19 and buy the retrace at 16.744 area too 1.6840
  • #380,082
  • Jun 3, 2014 9:10am Jun 3, 2014 9:10am
Quoting RussJ
{quote} Cables lost at moment... I missed the entry at 1.6720, i seen it for other reasons and not for the 50% of the Weekly wick which would ahve got my attention more but to the naked eye it didn't look pretty. With regards to both your opinions I'm on the fence... if we see 1.67 before 1.6840 then we will crash 168.40 and try and make a double top... however, if we see 1.6840 first before 1.67 area then I think 16840 could cap us and take us lower forming a bearish gartley, that's my opion, I'm staying out of cable until it reaches 1.6708 area...
Planning to stay out till next monday but get that feeling lower from here then higher again with the added mystic touch of a pre non farm payroll move as they already know of course just to add some spice.. u know those moves the ones where ur sitting there scratching your head and saying oh yes they already factored the news in .. or ur left standing there saying hey why is it not moving NFP was a great result.. lol ,. next stop MONDAY ..
  • #380,083
  • Jun 3, 2014 9:13am Jun 3, 2014 9:13am
Quoting RussJ
{quote} Cables lost at moment... I missed the entry at 1.6720, i seen it for other reasons and not for the 50% of the Weekly wick which would ahve got my attention more but to the naked eye it didn't look pretty. With regards to both your opinions I'm on the fence... if we see 1.67 before 1.6840 then we will crash 168.40 and try and make a double top... however, if we see 1.6840 first before 1.67 area then I think 16840 could cap us and take us lower forming a bearish gartley, that's my opion, I'm staying out of cable until it reaches 1.6708 area...
PA didn't like this week's bottom, even though GBP news were bad. In a downtrend, bad news only speed up the fall. But since nothing got the GBP down, something is holding it back. Some bigger orders above this week's high. I only follow PA and how price reacts at certain levels, so I might be wrong, of course. I would feel more confident shorting it above 1.68, tonight we will see if we can spike there before the news.
Everyone can see the chart, but only a few can actually read it.
  • #380,084
  • Jun 3, 2014 9:24am Jun 3, 2014 9:24am
WAITING TO BREAK 16724
  • #380,085
  • Jun 3, 2014 9:25am Jun 3, 2014 9:25am
Quoting RussJ
{quote} Been mnore trading cable .. got cable charts all over, just been looking at one chart and changing it not complete charts with euro and others but I think euro could be capped at 137.05 then move down considerable just my opinion but before nfp starts on Friday will upload all charts to check my opinion but in the short term Euro usd should reach 137 area whether now or NFP
Yeah, I've all but closed my cable charts for now. Sucks attention away from pairs actually trading right now. I was watching my tick charts this morning and actually didn't find anything worth while to me. She'll wake up when ready. I'll just wait until it tips it's hand.
Ghost Rider - WWTBMD?
  • #380,086
  • Jun 3, 2014 9:52am Jun 3, 2014 9:52am
Quoting RussJ
{quote} I took that USD CAD short - got in at 109.18 stop tight above 24 .. hoping to get around 60 pips from it maybe slightly a bit more. did you take it? Remember you were asking me the other day regarding it and I said I would short at 1.0924 etc but I thought it was in the process of being longed big time at 1.0820 levels and suggested possible double bottom which happened eventually Finally EUR USD is moving, been waiting hours for it to move, thought it was easier and easier on the eye to take than Cable so took to longing Euro t 136....will...
well done russ, no i went more cable short as i knew the pair, but very good regardsE
  • #380,087
  • Jun 3, 2014 9:53am Jun 3, 2014 9:53am
Quoting albchr
{quote} Nice Russ. I just banked my EU longs. She may have more but I'm happy for now. Think we'll see some bouncing here at 1.3647ish. Should clear to 1.3671 I think for now. Good luck. Trades were Long @ 1.35992 Closed @ 1.36406 +41.4 Long @ 1.36070 Closed @ 1.36411 +34.1
WELL DONE SIR I HOPE SOON I WILL BE IN A VERY GOOD POSITION .REGARDS E
  • #380,088
  • Jun 3, 2014 10:04am Jun 3, 2014 10:04am
Quoting albchr
{quote} yeah, i've all but closed my cable charts for now. Sucks attention away from pairs actually trading right now. I was watching my tick charts this morning and actually didn't find anything worth while to me. She'll wake up when ready. I'll just wait until it tips it's hand.
13620 looks good i will have a lot here , see if it goes to 55
  • #380,089
  • Jun 3, 2014 10:10am Jun 3, 2014 10:10am
Quoting elbert3
{quote} WELL DONE SIR I HOPE SOON I WILL BE IN A VERY GOOD POSITION .REGARDS E
Thanks Billy

You know the old saying, Even a blind clock finds a nut...errr.. no... even a broken squirrel is right twice....errr... nooo... Ummm.. OH screw it! I got lucky!
Ghost Rider - WWTBMD?
  • #380,090
  • Jun 3, 2014 10:10am Jun 3, 2014 10:10am
Quoting elbert3
{quote} WELL DONE SIR I HOPE SOON I WILL BE IN A VERY GOOD POSITION .REGARDS E
Attached Image (click to enlarge)
Click to Enlarge Name: 30B.png Size: 101 KB
USA USA .LOL
  • #380,091
  • Jun 3, 2014 10:14am Jun 3, 2014 10:14am
Quoting elbert3
{quote} 13620 looks good i will have a lot here , see if it goes to 55
Very well could... 55 that is
Ghost Rider - WWTBMD?
  • #380,092
  • Jun 3, 2014 10:15am Jun 3, 2014 10:15am
Quoting elbert3
{quote} {image} USA USA .LOL
Rah Rah!
Ghost Rider - WWTBMD?
  • #380,093
  • Jun 3, 2014 11:06am Jun 3, 2014 11:06am
Quoting albchr
{quote} rah rah!
what going on i cant find the reason for this not to fall out of bed, i am off to pick the wife up , can you get it below 70 for me..lol b
  • #380,094
  • Jun 3, 2014 11:19am Jun 3, 2014 11:19am
Quoting elbert3
{quote} what going on i cant find the reason for this not to fall out of bed, i am off to pick the wife up , can you get it below 70 for me..lol b
I don't find any reasons for this damn pair for not falling hard, i'm starting to lose my patience
We are on the same side bro!
  • #380,095
  • Jun 3, 2014 11:37am Jun 3, 2014 11:37am
Quoting elbert3
{quote} what going on i cant find the reason for this not to fall out of bed, i am off to pick the wife up , can you get it below 70 for me..lol b
It's all your fault Billy, You keep buying AND selling and you have it all confused now. So either pick ONE side or use smaller positions. The rest of us are waiting dammit!!
Ghost Rider - WWTBMD?
  • #380,096
  • Jun 3, 2014 11:39am Jun 3, 2014 11:39am
Quoting Carlicus
{quote} I don't find any reasons for this damn pair for not falling hard, i'm starting to lose my patience We are on the same side bro!
Cause british gentleman is nice and everybody like him ,o)
(but i want it down too :/ )
  • #380,097
  • Jun 3, 2014 11:53am Jun 3, 2014 11:53am
Quoting musani
{quote} {image}
200MA 4hr history
GELORE
  • #380,098
  • Jun 3, 2014 11:53am Jun 3, 2014 11:53am
Quoting Nan-ook
{quote} Cause british gentleman is nice and everybody like him ,o) (but i want it down too :/ )
Haha nice rationale
  • #380,099
  • Jun 3, 2014 12:05pm Jun 3, 2014 12:05pm
whichever way it decides to go up/down (bias is downward though), this pair is going to move fast and go far.
  • #380,100
  • Jun 3, 2014 12:11pm Jun 3, 2014 12:11pm
Quoting ygvbnm
whichever way it decides to go up/down (bias is downward though), this pair is going to move fast and go far.
I am going to be the dissenting voice here. I think cable has strength to go up further. That support at 1.66970 is pretty strong and has been holding since April 15th, more than a month and 1/2. And from the 4-hour chart, it's coming off a support level too and is holding and steadily climbing.

So PROVIDED that it's not dragged down by the EU, cable is on its way up.

Just my view.
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