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Cable Update (GBPUSD)

  • #408,421
  • Feb 12, 2015 7:51am Feb 12, 2015 7:51am
drop
  • #408,422
  • Feb 12, 2015 8:17am Feb 12, 2015 8:17am
Quoting elbert3
drop
Drop the order or PA will drop?
  • #408,423
  • Feb 12, 2015 8:22am Feb 12, 2015 8:22am
Quoting Barca
{quote} Drop the order or PA will drop?
hoping it would drop before got out with 18 pips because of greed should of took 35,, testing the high now not the right time to in unless double tops
  • #408,424
  • Feb 12, 2015 8:25am Feb 12, 2015 8:25am
5387 seems to hold for today.
Intraday only.
  • #408,425
  • Feb 12, 2015 8:30am Feb 12, 2015 8:30am
Quoting navk
5387 seems to hold for today.
might take the short again ,wait till it clears ,, or be brave and go for 5431
  • #408,426
  • Feb 12, 2015 8:34am Feb 12, 2015 8:34am
well it just told us it can break higher could now see a fib pullback
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risking it ,, and thats me wife time
  • #408,427
  • Feb 12, 2015 9:07am Feb 12, 2015 9:07am
Above 5400 not within this NY session.
Intraday only.
  • #408,428
  • Feb 12, 2015 9:46am Feb 12, 2015 9:46am
Quoting navk
Above 5400 not within this NY session.
I doubt that also, but might we see 1.5500 just before weekend? That should bring a rebound, right?
  • #408,429
  • Feb 12, 2015 9:56am Feb 12, 2015 9:56am
Quoting navk
Above 5400 not within this NY session.
I am expecting Asian or European session will reach above 1.4.
but I think Asian session.
  • #408,430
  • Feb 12, 2015 10:19am Feb 12, 2015 10:19am
Quoting navk
Above 5400 not within this NY session.
i am going to trade this break Navk,,
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  • #408,431
  • Feb 12, 2015 10:21am Feb 12, 2015 10:21am
Support /resistance lines and areas.
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Intraday only.
  • #408,432
  • Feb 12, 2015 11:27am Feb 12, 2015 11:27am
Quoting Zappa
Anyone else seeing a fast move to 1.5550-1.5610 area once this thing finally gets moving again? A stop at 1.5160 gives a solid r/r.
This is going as expected, but if none of you caught this move, don't be upset because it was very tricky price action over the last few days. But if you looked closely, you would have noticed the quick burst of buying every time the market dropped. Then it would "stick" for a little while before repeating. This is interpreted as buyers (big money buyers looking for liquidity) taking advantage of the liquidity provided when a small sell-off occurred.

Plus, look at where the top occurred at 1.5351. Look on the 4-hr and ask yourself why in the world would that spot be significant. There was nothing there the last time the market was at that price. There was not breakout there. There were NOT stops being triggered there. The market ain't going to make a significant turn at a place like that. The only reason there was a turn at 1.5351 was because of the trend traders who sold at the trendline on the daily chart. And all that does is set-up some nice stops to trigger later on that will push the market higher (like what's happening right now).
  • #408,433
  • Feb 12, 2015 11:51am Feb 12, 2015 11:51am
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going right to the line
  • #408,434
  • Feb 12, 2015 11:52am Feb 12, 2015 11:52am
Quoting elbert3
{image} going right to the line
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and after
  • #408,435
  • Feb 12, 2015 11:54am Feb 12, 2015 11:54am
Quoting navk
Above 5400 not within this NY session.
Spoke too soon lol
  • #408,436
  • Feb 12, 2015 12:05pm Feb 12, 2015 12:05pm
Quoting teddybomber
{quote} Spoke too soon lol
Surprisingly after 2 pm, spike ?
Intraday only.
  • #408,437
  • Feb 12, 2015 12:10pm Feb 12, 2015 12:10pm
Probably, I wouldn't have expected it too pop up at this time, I had a pending order set just above though so I made a little pocket change from that quick.
  • #408,438
  • Feb 12, 2015 12:13pm Feb 12, 2015 12:13pm
pull back
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  • #408,439
  • Feb 12, 2015 12:18pm Feb 12, 2015 12:18pm
Quoting ckwong622
Sell Order triggered at 1.5295 at 132.8% of my FIBO level and resistance level with SL 1.5305. seem like 1.53 is hard to break and we might see 1.49 or lower low before nx week.
Exactly my view on the Cable. I have a strong conviction that 1.5000 will be achieved next week. However, below that am not sure. Also today GBP/USD breached 1.53 and looks also to test 1.54, but with the Stoch RSI and CCI well above 80 and 200 respectively, this indicates that something is being overdone, and it is only a matter of time before the market corrects this mismatch.
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  • #408,440
  • Feb 12, 2015 12:19pm Feb 12, 2015 12:19pm
Quoting Zappa
{quote} This is going as expected, but if none of you caught this move, don't be upset because it was very tricky price action over the last few days. But if you looked closely, you would have noticed the quick burst of buying every time the market dropped. Then it would "stick" for a little while before repeating. This is interpreted as buyers (big money buyers looking for liquidity) taking advantage of the liquidity provided when a small sell-off occurred. Plus, look at where the top occurred at 1.5351. Look on the 4-hr and ask yourself why in...
Hey Frank nice words great style and makes perfect sense ..
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