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Cable Update (GBPUSD)

  • #400,041
  • Sep 24, 2014 7:05pm Sep 24, 2014 7:05pm
Quoting Pharm0r
Seems to me you're seeing what you want to see.
I think this is the case of many people here. Most are simply long, because they are used to it. Same with EU, people buy every dip simply because they still live in the old uptrend. EU will go down to 1.20 and there is no way GU will "survive" that. GU is just a little behind EU, but it will catch up.
Everyone can see the chart, but only a few can actually read it.
  • #400,042
  • Sep 24, 2014 7:06pm Sep 24, 2014 7:06pm
Quoting thegmann
{quote} no one's arguing about not shorting the pullback the thing is right now that opening another short at these levels might not be the best idea as were at huge support levels. If these support levels break and we get significant closes below i'm all for shorting it.
Of course...who would short daily bottom? The idea is to short the bull spikes, not the dips.
Everyone can see the chart, but only a few can actually read it.
  • #400,043
  • Sep 24, 2014 7:07pm Sep 24, 2014 7:07pm
Quoting OnlineAddict
{quote} I don't use fibs, but look at the weekly candles...they just scream for more down.
Weekly hammer looks bullish to me, but the candle after it worries me a bit.

However; we are 4 days from closing the monthly, and currently we've retraced 50% of that candle.
  • #400,044
  • Sep 24, 2014 7:09pm Sep 24, 2014 7:09pm
Quoting OnlineAddict
{quote} I think this is the case of many people here. Most are simply long, because they are used to it. Same with EU, people buy every dip simply because they still live in the old uptrend. EU will go down to 1.20 and there is no way GU will "survive" that. GU is just a little behind EU, but it will catch up.
I agree- however; I havent played with this pair much. Generally I switch sides @ a close above/below 23% and past the weekly/monthly pivot.

That's just me.

Eh- I'm not accounting for EU on this trade. Wont be holding anything over the weekend. Longest a day
  • #400,045
  • Sep 24, 2014 7:16pm Sep 24, 2014 7:16pm
On the bright side- Tokyo should be heading in soon, so if we are indeed short, they'll want to short from higher most likely, which still gives me what i want
  • #400,046
  • Sep 24, 2014 7:20pm Sep 24, 2014 7:20pm
Quoting Pharm0r
On the bright side- Tokyo should be heading in soon, so if we are indeed short, they'll want to short from higher most likely, which still gives me what i want
Yep...unless EU breaks the low now...that would take GU further down for a good long scalp.
Everyone can see the chart, but only a few can actually read it.
  • #400,047
  • Sep 24, 2014 7:25pm Sep 24, 2014 7:25pm
GBPUSD having a tuff time staying above value area low = 1.6380. now in mobo band = chop fest. once it cracks 1.6271 will short again Target 1.6125 / 1.6054
Attached Image (click to enlarge)
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"W. D. Gann said that time is the most important factor among all things."
  • #400,048
  • Edited 7:47pm Sep 24, 2014 7:28pm | Edited 7:47pm
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keeping downward wedge
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  • #400,049
  • Sep 24, 2014 7:33pm Sep 24, 2014 7:33pm
Quoting onlineaddict
{quote} yep...unless eu breaks the low now...that would take gu further down for a good long scalp.
shhhhhhhhh

dont jinx it
  • #400,050
  • Sep 24, 2014 8:00pm Sep 24, 2014 8:00pm
Sold GA at 1.8442.
Intraday only.
  • #400,051
  • Sep 24, 2014 8:51pm Sep 24, 2014 8:51pm
its still in multi year range box ,
anything can happen in consolidation ,

Quoting thegmann
{quote} how so? If you look at both monthly and weekly charts we haven't even gone past a 50% retrace of the uptrends? Not arguing that we may BREAK these areas of support right now but from the charts the uptrend is infact still intact... at least from my view... {image} {image}
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: gbp USD month 2 (DFB).png Size: 44 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #400,052
  • Sep 24, 2014 8:55pm Sep 24, 2014 8:55pm
gu will drop.
use leverage with caution...
  • #400,053
  • Sep 24, 2014 9:01pm Sep 24, 2014 9:01pm
Quoting Bones
its still in multi year range box , anything can happen in consolidation , {quote} {image} {image}
not denying that...but until the levels are broken it's not a clear reversal sign.
i'm neither long nor short right now
  • #400,054
  • Sep 24, 2014 9:03pm Sep 24, 2014 9:03pm
eu shows 3 crows at this time
Attached Image (click to enlarge)
Click to Enlarge Name: eur USD (DFB).png Size: 19 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #400,055
  • Sep 24, 2014 9:07pm Sep 24, 2014 9:07pm
well theres nothing to reverse ,it can dart in any direction in the box ,the thing for me is we see rejection top of box within last 3 months ,
in theory nothing to say were not going higher next I guess ,
for me any real drive north would have to be next month

Quoting thegmann
{quote} not denying that...but until the levels are broken it's not a clear reversal sign.
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #400,056
  • Sep 24, 2014 9:16pm Sep 24, 2014 9:16pm
Quoting Bones
well theres nothing to reverse ,it can dart in any direction in the box ,the thing for me is we see rejection top of box within last 3 months , in theory nothing to say were not going higher next I guess , for me any real drive north would have to be next month {quote}
it would be reversing the last year of up moves. It's been ranging over 5 years but most people aren't trading that long term. At least for me a years worth of upward movement is an uptrend in my eyes and any reversal of that more than a 50% retrace on the weekly and a 23.6% retrace on the monthly would signal to me that upward pressure has reversed itself. I have been shorting all rallies so far to the levels were at now (besides the referendum bought the rumor sold the fact on that one). But until the fibs are broken the upside is still there all my opinions of course.
  • #400,057
  • Sep 24, 2014 9:26pm Sep 24, 2014 9:26pm
I take your point ,

actually latter part of this trend was very ugly ,monthly
more pretty on 2 month ,but it was clearly running out of steam,



Quoting thegmann
{quote} it would be reversing the last year of up moves. It's been ranging over 5 years but most people aren't trading that long term. At least for me a years worth of upward movement is an uptrend in my eyes and any reversal of that more than a 50% retrace on the weekly and a 23.6% retrace on the monthly would signal to me that upward pressure has reversed itself. I have been shorting all rallies so far to the levels were at now (besides the referendum bought the rumor sold the fact on that one). But until the fibs are broken the upside is still...
Attached Image (click to enlarge)
Click to Enlarge Name: gbp USD 2 month (DFB).png Size: 18 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #400,058
  • Sep 24, 2014 9:43pm Sep 24, 2014 9:43pm
eh screw it long from 1.63217 s/l 1.62968 going to bed zzzz
  • #400,059
  • Sep 24, 2014 9:48pm Sep 24, 2014 9:48pm
Quoting Bones
eu shows 3 crows at this time {image}
Hi bones
you have a good posting
look like 1.20 is possible to hit
Forex as Leverage
  • #400,060
  • Sep 24, 2014 10:05pm Sep 24, 2014 10:05pm
oww my long was killed anyway.....

Better to wait Carney speech how market reacting...
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