Cable Update (GBPUSD)

update on my ga ,, target 2020 any body else on it ,,line attraction i hope,, got to run well done guys who are or were long

run this.

do you guys think it could take 15350 off?

anything seems pretty possible today.

and ~55 is coming...

I don't think so, not yet.
Just waiting for efxnews to tell me to start "buying" GBPUSD before I start "selling".
Then if price breaks below the 2013 low of 1.4813, I'll wait for said news channel to tell me to "sell the break" before I start buying.

You know how it goes

Watch the line

feel the line

BE the line

Still a few levels to take out before you can even call this a proper correction, let be a trend change. Though the mid-term change does look like it might stay around for awhile, depending on US data tonight.

what do you mean?

?? 35 more,,??

gu formed a short term base after breaking 5200/20 resistance aiming for +5400 , above that figure building a short could be wise but not now .

Seems that the sustained break of 1.5350 on an H4 closing can fuel the pair towards 1.5475; however, US Retail Sales are awaited. Alternatively, a close below 1.5300 negates the up-move and can cause the pair to re-test 1.5200 mark.

has anyone read this?

http://www.fxstreet.com/news/forex-n...6-f005e92a81b0

http://www.forexfactory.com/showthre...98#post8061198

All to plan.

TP Hit @ 1.5350 for 125 pips...

dont trust news.. trust the market.. bullish atm.. but after break weekly high pa need to calm down n back to down side for refuel again

BoE willing to cut rates....

And why the GBP is rallying?....

Good morning,

danndc,

Please take this respectfully.

Your understanding of fundamentals and news, and the implications of how that will affect an economy is amazing and outstanding. I enjoy reading the little articles that you inject into the cable thread. If price action responded to economic news and the implications espoused by those conditions, all economists would be traders. That is not the case. (Heck, most economists tell you there is a recession after it has been going on 2 years and the average Joe in the streets already knows that's there has been a recession since the food lines started 19 months before the economists announcements.)

It seems that you are trading off these economic expectations and sentiment. I think we all have blind spots as to what is happening on the charts when we accept a point of view, (especially if it is our own point of view) or have an expectation on what price is going to do, and ignore what the charts are telling us. Not that this is done on purpose, it's just that the mind plays tricks on us.

You told me that you use stochastics and trend lines to trade. I would, humbly and with the greatest of respect, (and because I'd like you to make money in the forex) suggest that you may want to use these tools on a smaller time frame. If the amount of time you can spend on the charts is not constrained by family commitments or work, this might be a more profitable approach.

I hope I have not given insult to you as that was not my intent, but instead, hope to hear your analysis on a smaller time scale.

Sincerely,

B.

what is your base of this calm down?