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Cable Update (GBPUSD)

  • #380,641
  • Jun 6, 2014 4:00am Jun 6, 2014 4:00am
Quoting RussJ
{quote} 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
congestion on 5 min looks to break 680 now the trade balance is in the red pound is to expensive bad for the economy 64 63 is better them rolls royce's are expensive to import ,,
  • #380,642
  • Jun 6, 2014 4:01am Jun 6, 2014 4:01am
Good bear finish on the H4, when the price was sitting at 1.6810 just 20 seconds before the end, I was starring at it and thought for myself "Ok, not go back to 6807 to close" and thats where it end up at. lol

Now I can finally sleep until NFP.
Everyone can see the chart, but only a few can actually read it.
  • #380,643
  • Jun 6, 2014 4:05am Jun 6, 2014 4:05am
Quoting OnlineAddict
{quote} 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.


ha ha ha.. take profit the same...am tempted set manual as well but going tottry and get the bottom at 1.6741 only because of greed.. want to take profits at 1.6787 and use the profits to re buy as much as profit will let me at 1.6756... would love to see us at 1.6873 then but 100 pips from there forecasts 1.6843 area and that's a fractal which would want it to come back to 1.6787 area so can't see it doing that many swings so if we get down to our buy areas at 1.6740's then 1.6840 would be top for the day.

Then price usually does 200 - 250 pips per week.... 1.6787 would provide perfect platform for double top or a break above... 1.6787 add 200 pips = 1.6987... I will short the double top...

My self I see end of days not intraday here as 1.6785 Monday too 1.6873
1.6873 retrace 1.6808
This is tricky - either 1.6808 too 1.6887 then retrace too 1.6830 Or 1.6808 too 1.6903 area

1.6903 too 1.6870 then 1.6870 too 1.6958... if we retraced off 1.6887 though to 1.6829 then I would be looking at taking that too 1.6912 then again retrace to 1.6870 then upto same level and get us back on track at 1.6958

1.6958 retrace to 1.6903 then 1.6903 too 1.6987/95 producing double top.....

It could break though but that's what I'm playing, I will play the double top and match that up with USD at same time
  • #380,644
  • Jun 6, 2014 4:09am Jun 6, 2014 4:09am
Quoting RussJ
{quote} ha ha ha.. take profit the same...am tempted set manual as well but going tottry and get the bottom at 1.6741 only because of greed.. want to take profits at 1.6787 and use the profits to re buy as much as profit will let me at 1.6756... would love to see us at 1.6873 then but 100 pips from there forecasts 1.6843 area and that's a fractal which would want it to come back to 1.6787 area so can't see it doing that many swings so if we get down to our buy areas at 1.6740's then 1.6840 would be top for the day. Then price usually does 200 -...
i have not seen so many permutations since i stopped doing the football pools ,,lol you must be loaded russ,
Attached Image
lol good lad E
  • #380,645
  • Jun 6, 2014 4:12am Jun 6, 2014 4:12am
Attached Image (click to enlarge)
Click to Enlarge Name: 4h.png Size: 108 KB
this chart could mean no more 1700 ,no more 6900 , and then 6800, only 65, 63, better for uk economy we have had the red figures ??? CLEANER CHART
Attached Image (click to enlarge)
Click to Enlarge Name: 4H2.png Size: 89 KB
  • #380,646
  • Jun 6, 2014 4:19am Jun 6, 2014 4:19am
Credit Suisse: We look for 1.6845/83 to ideally cap any near-term strength. Strategy: Flat, stopped out. Sell at 1.6835, stop above 1.6883 for 1.6699. Read more: Market Watch
  • #380,647
  • Jun 6, 2014 4:24am Jun 6, 2014 4:24am
Eur 3630 to 3480 44,,howzat
  • #380,648
  • Jun 6, 2014 4:32am Jun 6, 2014 4:32am
Quoting albchr
{quote} 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. {image}
GOOD VIEW, these are the pairs im trading these days, gbp/nzd, eur/nzd, gbp/aud, eur/aud, gbp/cad, eur/cad and all jpy pairs.
  • #380,649
  • Jun 6, 2014 4:36am Jun 6, 2014 4:36am
Quoting elbert3
{quote} i have not seen so many permutations since i stopped doing the football pools ,,lol you must be loaded russ,{image} lol good lad E

lol.. its how I read the fractals!!!
  • #380,650
  • Jun 6, 2014 4:39am Jun 6, 2014 4:39am
Quoting PoundTrader
{quote}GOOD VIEW, these are the pairs im trading these days, gbp/nzd, eur/nzd, gbp/aud, eur/aud, gbp/cad, eur/cad and all jpy pairs.
I agree on all those pairs. It's funny as I used to just focus on 4. Then I started watching WAY too many. But through it all I've come to pretty much the same list as yours. I still, for what ever reason (habit?) trade GU and I also like AU but I'm seriously loosing interest in most USD pairs recently. Too much screwing around going on with them.
Ghost Rider - WWTBMD?
  • #380,651
  • Jun 6, 2014 4:42am Jun 6, 2014 4:42am
Quoting russj
{quote} lol.. Its how i read the fractals!!!
i have redrawn my 4 hour tl 6850 is possible dump scenarios ,, 1.gdp is going to be crap,, borrowing high now 2nd time ,, red figures through the week gbusd ,2 ,eur is going down, and now today exports are crap,,,why pound to high ,,,
  • #380,652
  • Jun 6, 2014 4:43am Jun 6, 2014 4:43am
interesting how they are forecasting an increase in the usa unemployment rate from the previous - so it might be a plus if it stays the same - kinda feel nfp infor might be a flanker but look out for the unemployment rate ..
  • #380,653
  • Jun 6, 2014 4:45am Jun 6, 2014 4:45am
Quoting elbert3
{quote} i have redrawn my 4 hour tl 6850 is possible dump scenarios ,, 1.gdp is going to be crap,, borrowing high now 2nd time ,, red figures through the week gbusd ,2 ,eur is going down, and now today exports are crap,,,why pound to high ,,,

Yeah it is a dump 1.6840/48 is a dunp back too 1.6787 area... that's either end of day scenario or it price would get here before nfp and nfp would send it down there then finish day at 1.6870.

1 of 2 scenarios
  • #380,654
  • Jun 6, 2014 4:47am Jun 6, 2014 4:47am
Quoting DerekTrotter
interesting how they are forecasting an increase in the usa unemployment rate from the previous - so it might be a plus if it stays the same - kinda feel nfp infor might be a flanker but look out for the unemployment rate ..
thats a first no joke in the post,,, lol pump ordered monday fixed, wedding sat, dress today, so i need to win the game today dell boy
  • #380,655
  • Jun 6, 2014 4:50am Jun 6, 2014 4:50am
Quoting elbert3
{quote} thats a first no joke in the post,,, lol pump ordered monday fixed, wedding sat, dress today, so i need to win the game today dell boy
Always a first time hombre.. still long btw .. what are you favouring short perhaps .. ??
  • #380,656
  • Jun 6, 2014 4:51am Jun 6, 2014 4:51am
Quoting albchr
{quote} I agree on all those pairs. It's funny as I used to just focus on 4. Then I started watching WAY too many. But through it all I've come to pretty much the same list as yours. I still, for what ever reason (habit?) trade GU and I also like AU but I'm seriously loosing interest in most USD pairs recently. Too much screwing around going on with them.
i agree, something tells me the u.s. goverment got there hands in the forex cookie jar not good trading usd pairs these days
  • #380,657
  • Jun 6, 2014 4:52am Jun 6, 2014 4:52am
Quoting RussJ
{quote} ha ha ha.. take profit the same...am tempted set manual as well but going tottry and get the bottom at 1.6741 only because of greed.. want to take profits at 1.6787 and use the profits to re buy as much as profit will let me at 1.6756... would love to see us at 1.6873 then but 100 pips from there forecasts 1.6843 area and that's a fractal which would want it to come back to 1.6787 area so can't see it doing that many swings so if we get down to our buy areas at 1.6740's then 1.6840 would be top for the day. Then price usually does 200 -...
Chill out, calm down and take a breath Russ.
  • #380,658
  • Jun 6, 2014 4:54am Jun 6, 2014 4:54am
Quoting elbert3
{quote} thats a first no joke in the post,,, lol pump ordered monday fixed, wedding sat, dress today, so i need to win the game today dell boy
U know E - it is a carry over from the Media gigs - people on set crap themselves if they dare to make a mistake .. so i just humour them along and then eventually they realise if the Captain doesn't look worried then why should we.. so LETs have a party usually follows lol .. last call for the train .. heading north .. (famous last words hey)
  • #380,659
  • Jun 6, 2014 4:58am Jun 6, 2014 4:58am
Quoting PoundTrader
{quote}i agree, something tells me the u.s. goverment got there hands in the forex cookie jar not good trading usd pairs these days
That, and they seemed to have lost the OFF button for the printing presses. Being both a proud, and sorrowful resident here, I can see the writing on the wall. I don't much care for the story line myself.
Ghost Rider - WWTBMD?
  • #380,660
  • Jun 6, 2014 4:59am Jun 6, 2014 4:59am
Quoting DerekTrotter
{quote} Always a first time hombre.. still long btw .. what are you favouring short perhaps .. ??
just loaded for 15 pips hen 90% off risky back in min
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