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Cable Update (GBPUSD)

  • #381,041
  • Jun 9, 2014 10:12am Jun 9, 2014 10:12am
Quoting Bones
haha ,don't you use charts {quote}
I love charts...but I prefer to trade off PA, to be honest. Charts mislead sometimes, PA misleads sometimes, but PA is still more reliable...at least intraday.
Everyone can see the chart, but only a few can actually read it.
  • #381,042
  • Jun 9, 2014 10:12am Jun 9, 2014 10:12am
kinda exaggerated cable,want it too break immediate support

Quoting Bones
nzd usd {image}
Attached Image (click to enlarge)
Click to Enlarge Name: nzd usd USD d1 (DFB).png Size: 31 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #381,043
  • Jun 9, 2014 10:14am Jun 9, 2014 10:14am
pa is charts ?


Quoting OnlineAddict
{quote} I love charts...but I prefer to trade off PA, to be honest. Charts mislead sometimes, PA misleads sometimes, but PA is still more reliable...at least intraday.
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #381,044
  • Jun 9, 2014 10:16am Jun 9, 2014 10:16am
Quoting Bones
don't get me wrong I'm hoping eu goes up or holds ,eb under water {quote}
I see no reason why EU should go more down...its going up since 2011? The only spikes down were FED announcing tapering, ECB announcing lower rates...after that the uptrend resumed. I don't see any reason why it shouldn't go above 1.40 or even 1.50. The more people expect 1.30 or 1.20, the higher it will go, I think.
Everyone can see the chart, but only a few can actually read it.
  • #381,045
  • Jun 9, 2014 10:17am Jun 9, 2014 10:17am
Quoting Bones
pa is charts ? {quote}
Price action...the simple fight between bears and bulls.
Everyone can see the chart, but only a few can actually read it.
  • #381,046
  • Jun 9, 2014 10:18am Jun 9, 2014 10:18am
eu may retrace true, but monthly says down imo
Attached Image (click to enlarge)
Click to Enlarge Name: eur USD monthly (DFB).png Size: 21 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #381,047
  • Jun 9, 2014 10:20am Jun 9, 2014 10:20am
gbp aud = down
Attached Image (click to enlarge)
Click to Enlarge Name: gbp AUD monthly (DFB).png Size: 21 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #381,048
  • Jun 9, 2014 10:21am Jun 9, 2014 10:21am
to read pa ,you look at chart

Quoting OnlineAddict
{quote} Price action...the simple fight between bears and bulls.
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #381,049
  • Jun 9, 2014 10:21am Jun 9, 2014 10:21am
Quoting Bones
eu may retrace true, but monthly says down imo {image}
But look how close it is to the descending channel, if it breaks above 1.40, then sky is the limit. Who expects it now? Noone. Perfect time to break it.
Everyone can see the chart, but only a few can actually read it.
  • #381,050
  • Jun 9, 2014 10:22am Jun 9, 2014 10:22am
Quoting Bones
to read pa ,you look at chart {quote}
Kind of, yeah, the 1M chart.
Everyone can see the chart, but only a few can actually read it.
  • #381,051
  • Jun 9, 2014 10:24am Jun 9, 2014 10:24am
Quoting elbert3
{image} looking to break the lower trend channel, be care full could spike on the bottom, i might tp there PP 6796
You are right about 6796, seems to be the turning point...how ironic that my long is exactly at that level.
Everyone can see the chart, but only a few can actually read it.
  • #381,052
  • Jun 9, 2014 10:28am Jun 9, 2014 10:28am
Quoting onlineaddict
{quote} you are right about 6796, seems to be the turning point...how ironic that my long is exactly at that level. :d
Attached Image (click to enlarge)
Click to Enlarge Name: 30.png Size: 94 KB
not ironic, just watch and know how tricky this pair is,,, lets see if the 10 holds if not 2 trades will be off and i might scalp it long or wait a little to short
  • #381,053
  • Jun 9, 2014 10:31am Jun 9, 2014 10:31am
Quoting elbert3
{quote} {image} not ironic, just watch and know how tricky this pair is,,, lets see if the 10 holds if not 2 trades will be off and i might scalp it long or wait a little to short
I think bears have 1 more hour to break 80, tops. If not, they might give up for today and bulls take over to finish the day. If long, then a spike to 1.6817-20 is the most that can happen, I guess.
Everyone can see the chart, but only a few can actually read it.
  • #381,054
  • Jun 9, 2014 10:42am Jun 9, 2014 10:42am
Quoting Bones
pa is charts ? {quote}
i have a system where all you need is price with no charts at all so price action trading could be without charts
  • #381,055
  • Jun 9, 2014 10:48am Jun 9, 2014 10:48am
Quoting PoundTrader
{quote}i have a system where all you need is price with no charts at all so price action trading could be without charts
A lot of folks will never really understand this. Now of course I use charts. But charts only reflect PA. Price action happily happens with or without them.
Ghost Rider - WWTBMD?
  • #381,056
  • Jun 9, 2014 10:49am Jun 9, 2014 10:49am
00 is close...will it break to the upside? Am I the only one long here? Looking at 6807, if it breaks, 6817 should be next.
Everyone can see the chart, but only a few can actually read it.
  • #381,057
  • Jun 9, 2014 11:04am Jun 9, 2014 11:04am
Wow The Pound is just screaming of a long, wished I had been watching where the arrow is on my chart because I would have entered long there with a stop right at the lows.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdm15.png Size: 53 KB
  • #381,058
  • Jun 9, 2014 11:06am Jun 9, 2014 11:06am
Euro is holding us down...
Everyone can see the chart, but only a few can actually read it.
  • #381,059
  • Jun 9, 2014 11:14am Jun 9, 2014 11:14am
Quoting OnlineAddict
Euro is holding us down...
After going negative on the Deposit Rate I'm pretty surprised after the sell off price didn't stay down.

I think eventually the Euro will drop but it'll have to give me a good setup at a previous level before I'll take a short.
  • #381,060
  • Jun 9, 2014 11:20am Jun 9, 2014 11:20am
Quoting irongoose
{quote} After going negative on the Deposit Rate I'm pretty surprised after the sell off price didn't stay down. I think eventually the Euro will drop but it'll have to give me a good setup at a previous level before I'll take a short.
The rate was the reason euro dropped from 1.3990, I think 500 pips is enough for that. Mostly, when FED or ECB announced something big like this, eur dropped by 300-600 pips...and was back testing new heights within a month or two. I don't think the way euro dropped from 1.3990 was a trend change. Trends don't change like that...there is more of a fight.
Everyone can see the chart, but only a few can actually read it.
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