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Cable Update (GBPUSD)

  • #380,621
  • Jun 6, 2014 3:12am Jun 6, 2014 3:12am
Quoting RussJ
{quote} Here's the other scenario {image}
Cable rocket shall not make such retrace. Look back at Cable rallies, if all the factor shall be positive for Cable (i mean first of all fundamentals - only positive news and first potential rate hike country), and we have already a basket of positive factors for Cable, the only thing that can stop the rally to 170> is NFP (and even this cannot keep Cable for sure in his pants). So if NFP are bad 170 at least is guaranteed. Uk economy is pumping so hard that it gives a s.... about high exchange rate...

Remember when 1,63 was the rate, everybody was saying BOE should react, bla boa, the exchange rate is so high. Now we are in 167-170 area and we are looking to buy on dips....
No emotions, just trade
  • #380,622
  • Jun 6, 2014 3:15am Jun 6, 2014 3:15am
Quoting russj
{quote} here's the other scenario {image}
Attached Image (click to enlarge)
Click to Enlarge Name: 5min.png Size: 114 KB
i get extension 835 , so is it there first or down to the fibs, or 6767,, sorry charts tight best i can do
  • #380,623
  • Jun 6, 2014 3:19am Jun 6, 2014 3:19am
overbid after ECB.
  • #380,624
  • Jun 6, 2014 3:24am Jun 6, 2014 3:24am
LOL... so many interesting views in here today.
Ghost Rider - WWTBMD?
  • #380,625
  • Edited 3:38am Jun 6, 2014 3:25am | Edited 3:38am
Quoting elbert3
{quote} {image} i get extension 835 , so is it there first or down to the fibs, or 6767,, sorry charts tight best i can do

Elbert... Orignal plan sees it pulling back too1.6741 area.. that's where I am buying but I gave an alternate scenario where if it went up first before nfp then I would sell it back too 1.6785..

NFP usually goes 70 one way and 100 the other so fits with my scenario down too 167.40 then up to 1.6840..

I cant see it going straight too 1.6870 as that would look ugly as it would need to come back too 1.6808 as per fractal geometery.... but if we were to get too 1.6840 before nfp than could see it come down too 1.6785 before finishing the move at 1.6870

Either way I see cable finishing strong today... if goes down first like I think your first buyers will try off 1.6770 but then you will have bears camped at 1.68 which I hope will bring it down to my level... 1.6756/39... ideally 1.6741 would be perfect

Ps.. already taken out 1.6802... touched it so weakened it... now we need to touch 1.6787 that would be great.. weaken it for nfp too fall through it

Gonna watch a bit of bloodsport now, aint seen it for years
  • #380,626
  • Jun 6, 2014 3:28am Jun 6, 2014 3:28am
man i love trading this pair gbp/nzd this fucker moves
  • #380,627
  • Jun 6, 2014 3:29am Jun 6, 2014 3:29am
Quoting Janut
{quote} Cable rocket shall not make such retrace. Look back at Cable rallies, if all the factor shall be positive for Cable (i mean first of all fundamentals - only positive news and first potential rate hike country), and we have already a basket of positive factors for Cable, the only thing that can stop the rally to 170> is NFP (and even this cannot keep Cable for sure in his pants). So if NFP are bad 170 at least is guaranteed. Uk economy is pumping so hard that it gives a s.... about high exchange rate... Remember when 1,63 was the rate, everybody...

My plan is to buy mate off 1.6741 area..... if we go up first I will short 1.6840 levels.. the alternate plan was only put up (it was not my plan) as someone suggested it was going up now and I said well if it does no problem I wil short 1.6842/48 back too 1.6785 then long it upto 1.6870.. but my plan is to get cable down too 1.6756/39) then long up to 1.6843... ideally I can get the buy off 1.6741 but if it goes early then I will get the retrace and buy it off 1.6756...

and off 1.6873 I will short but nt sure this will happen today or not...... I would short it back too 1.6808
  • #380,628
  • Jun 6, 2014 3:31am Jun 6, 2014 3:31am
Quoting Janut
{quote} Cable rocket shall not make such retrace. Look back at Cable rallies, if all the factor shall be positive for Cable (i mean first of all fundamentals - only positive news and first potential rate hike country), and we have already a basket of positive factors for Cable, the only thing that can stop the rally to 170> is NFP (and even this cannot keep Cable for sure in his pants). So if NFP are bad 170 at least is guaranteed. Uk economy is pumping so hard that it gives a s.... about high exchange rate... Remember when 1,63 was the rate, everybody...
Hey Elbert .. see over here babe factor 10 who knows here stuff too .. rare ..
  • #380,629
  • Jun 6, 2014 3:33am Jun 6, 2014 3:33am
Hmm, not even a spike above 1.6816, monthly pivot is too strong and looks like I was right about the loading up before the short thing. I changed my target from 6784 to 6750.

About NFP, why do people consider it so important? Its just news, it doesn't have any power to change trends. The only thing that could change trends were FED and ECB, not even FED is dead, so ECB is the only thing left strong enough to change trends. NFP is nothing...if the info is bad and we get a long spike, I will short it, if info is good and we get a short spike, I will long it, simple as that.
Everyone can see the chart, but only a few can actually read it.
  • #380,630
  • Jun 6, 2014 3:34am Jun 6, 2014 3:34am
Quoting elbert3
{quote} {image} i get extension 835 , so is it there first or down to the fibs, or 6767,, sorry charts tight best i can do

I totally agree, first down off nfp too 1.6767.. that's when people will try and take it up.. but then you got others camped at 1.6806 that will try and short it as been waiting for nfp to go one way plus its fractal... once we get to 1.6767 we have 1.6806 will take precedence and aim for lower.. hence my liking 1.6756/39)

Am hoping it goes too 1.6741 but have a feeling it might go at the pivot at 1.6747 ... if it does then I will grab a retrace that should come back too 56 but my aim is to try and grab it at 41... exit at 87.... and reload all the profits at 56... now that is greed looooool
  • #380,631
  • Jun 6, 2014 3:36am Jun 6, 2014 3:36am
80 won't be easy to break, won't happen at one try, I think. But if it does, 6750 is very probable. Now lets break it under 68, so I can get back to sleep.
Everyone can see the chart, but only a few can actually read it.
  • #380,632
  • Jun 6, 2014 3:36am Jun 6, 2014 3:36am
Quoting OnlineAddict
Hmm, not even a spike above 1.6816, monthly pivot is too strong and looks like I was right about the loading up before the short thing. I changed my target from 6784 to 6750. About NFP, why do people consider it so important? Its just news, it doesn't have any power to change trends. The only thing that could change trends were FED and ECB, not even FED is dead, so ECB is the only thing left strong enough to change trends. NFP is nothing...if the info is bad and we get a long spike, I will short it, if info is good and we get a short spike, I will...

Yay I've now got someone supporting me in my view I got my short exits at 1.6750 as shorted at 1.6719 stop 1.6826 although that is 7 pips expect it to be 24 pips if nfp swings it up first

but am looking at buying slightly below there... looking at trying the bottom at 1.6741 exact but pivot is at 1.6747 S1 so need to be careful
  • #380,633
  • Jun 6, 2014 3:40am Jun 6, 2014 3:40am
Quoting OnlineAddict
80 won't be easy to break, won't happen at one try, I think. But if it does, 6750 is very probable. Now lets break it under 68, so I can get back to sleep.

I am hoping we touch 87 now before nfp.. and 87 takes us back too say 1.6808.. we will be ready to crash through it then as we would have touched it once.. we have already touched 1.6802 so that is dead... now we need a touch on 1.6787 then we're good to go.. 1.6767 will repend back too 1.6802/06 then we'll follow through too 1.6747 area
  • #380,634
  • Jun 6, 2014 3:42am Jun 6, 2014 3:42am
Quoting RussJ
{quote} Yay I've now got someone supporting me in my view I got my short exits at 1.6750 as shorted at 1.6719 stop 1.6826 although that is 7 pips expect it to be 24 pips if nfp swings it up first but am looking at buying slightly below there... looking at trying the bottom at 1.6741 exact but pivot is at 1.6747 S1 so need to be careful
Haha, I just set my TP to 6750 and a buy order at 6747, before going back to sleep. I hope we will go down to 70s before NFP, then a quick news spike could open my buy order, as there won't be time to do it manually, I think. But after that, I don't think we can go much higher than 6780, on a friday. After that, monday or tuesday a final spike above 6850 and then I will short it until 6650, which hopefully happens the same week. That would be the 100% ideal scenario.
Everyone can see the chart, but only a few can actually read it.
  • #380,635
  • Jun 6, 2014 3:49am Jun 6, 2014 3:49am
Quoting PoundTrader
man i love trading this pair gbp/nzd this fucker moves
No doubt PT. A great pair. I didn't trade this but it would seem my view of it was correct. Just learning this approach so watching a few to see how I'm doing is "almost" as good as profit.

Makes me think my Cable view will work out as well.
Attached Image (click to enlarge)
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Ghost Rider - WWTBMD?
  • #380,636
  • Jun 6, 2014 3:50am Jun 6, 2014 3:50am
pending order GBP/USD sell limit 6850 TP 6450 SL 6950
pending order EUR/USD sell limit 3700 TP 3300 SL 3900
  • #380,637
  • Jun 6, 2014 3:52am Jun 6, 2014 3:52am
Quoting Trader88q
pending order 6850 TP 6450 SL 6950
REGARDS
  • #380,638
  • Jun 6, 2014 3:54am Jun 6, 2014 3:54am
Sitting on the sidelines for the NFP. At the moment GU trading below 200MA on the 4H with bearish butterfly harmonic still valid. IMO, it would take a break up to the 168.38 to invalidate this harmonic.

Fundamentally, I can't see a lot of reasons to be selling GU but either way will sit this out and maybe learn something for future considerations.

Sharing is caring. Good luck pippers!
Attached Image (click to enlarge)
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Pride always comes before destruction.... -Proverbs 16:18
  • #380,639
  • Jun 6, 2014 3:55am Jun 6, 2014 3:55am
Quoting RussJ
{quote} I am hoping we touch 87 now before nfp.. and 87 takes us back too say 1.6808.. we will be ready to crash through it then as we would have touched it once.. we have already touched 1.6802 so that is dead... now we need a touch on 1.6787 then we're good to go.. 1.6767 will repend back too 1.6802/06 then we'll follow through too 1.6747 area
Im thinking from 1.6688
  • #380,640
  • Jun 6, 2014 3:58am Jun 6, 2014 3:58am
Quoting Expo33
Sitting on the sidelines for the NFP. At the moment GU trading below 200MA on the 4H with bearish butterfly harmonic still valid. IMO, it would take a break up to the 168.38 to invalidate this harmonic. Fundamentally, I can't see a lot of reasons to be selling GU but either way will sit this out and maybe learn something for future considerations. Sharing is caring. Good luck pippers! {image}

16873 is your short back too 16808.. hoping to see it down first though... this might happen Monday if not today.. if we can't break 1.6787 this will get really freaky swings back and forth cancelling out pips etc for people.. for instance.... if we do not break 1.6787 and go up too 1.6843 area then that will short all the way back too 1.6787 before attempting 1.6873 then that will try and make it back too 1.6808

Hence my reason for looking for it to short first down too 1.6747 area
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