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Cable Update (GBPUSD)

  • #408,821
  • Feb 17, 2015 3:24am Feb 17, 2015 3:24am
not the same at all

Quoting MaryAnne
{quote} i remember last year during Scotland event lol. I panicked when I saw price rising so high to 1.65 relief rally and actually opened long. Then suddenly price down by so much... to .59xx so fast was like wow what the heck... and that was despite good data from UK which market just chose to keep ignoring. Now we have worse data, but hawkish BOE trying to see if this will change anything in the long run.
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #408,822
  • Feb 17, 2015 3:25am Feb 17, 2015 3:25am
Quoting Ck87
{quote} Bear markets ignore good news and exaggerate bad news. Patiently waiting for some bad news
yeah, i remember that happened back then. I was actually short from 1.62 and panicked so much at the rise that I opened longs around 1.64
today though it chose to ignore bad news and jus keep GBPUSD big on the core cpi figures alone. so far it has not went HH we need more US good data and worse UK data to continue bear market me thinks

Wondering now if EU news will make it drop, or will it rise as some people say money from EU flows into UK?
  • #408,823
  • Feb 17, 2015 3:25am Feb 17, 2015 3:25am
Quoting Bones
not the same at all {quote}
lol - well if you were to look at the whole facts then Yes it is ..
  • #408,824
  • Feb 17, 2015 3:26am Feb 17, 2015 3:26am
cable is range high tf ,this is the bottom
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #408,825
  • Feb 17, 2015 3:27am Feb 17, 2015 3:27am
Quoting ptcl
i'm holding my longs tp is 1.54 no matter what cpi comes my technical perspective says it will reach 1.4 today
off to bed now
  • #408,826
  • Feb 17, 2015 3:27am Feb 17, 2015 3:27am
Quoting Bones
not the same at all {quote}

Can explain further? And yea back then I was doing news trading (following recommendations of Peter in FPA) I thought it odd good employment data and carney still went dovish and finally revised GDP lower causing the drop from .5945 to where it is these days. if he didnt do that, GBPUSD would have gone above 1.60...
  • #408,827
  • Feb 17, 2015 3:28am Feb 17, 2015 3:28am
Quoting Bones
cable is range high tf ,this is the bottom
u mean it is unlikely to test 1.50 again?
  • #408,828
  • Feb 17, 2015 3:31am Feb 17, 2015 3:31am
well ,the Scottish bull run was as we came off top of range ,this bull run is off bottom ,

Quoting MaryAnne
{quote} Can explain further? And yea back then I was doing news trading (following recommendations of Peter in FPA) I thought it odd good employment data and carney still went dovish and finally revised GDP lower causing the drop from .5945 to where it is these days. if he didnt do that, GBPUSD would have gone above 1.60...
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #408,829
  • Feb 17, 2015 3:32am Feb 17, 2015 3:32am
Quoting Bones
cable is range high tf ,this is the bottom
Your funny lol ..
  • #408,830
  • Feb 17, 2015 3:34am Feb 17, 2015 3:34am
Quoting Bones
well ,the Scottish bull run was as we came off top of range ,this bull run is off bottom , {quote}
What I meant was it did go below 1.61 and then rallied back to above 1.65 after Scotland chose to remain in UK. And then back all the way down...
BTW, how do we tell where bottom is?

I thought it would actually go below .4950 as bottom where it would be good to buy for long term ><
  • #408,831
  • Feb 17, 2015 3:38am Feb 17, 2015 3:38am
Quoting MaryAnne
{quote} What I meant was it did go below 1.61 and then rallied back to above 1.65 after Scotland chose to remain in UK. And then back all the way down... BTW, how do we tell where bottom is? I thought it would actually go below .4950 as bottom where it would be good to buy for long term ><
Super hard to know bottom. But I'd assume that is going to be years from now when EUR/USD is well below 1.0
  • #408,832
  • Feb 17, 2015 3:39am Feb 17, 2015 3:39am
I'm just looking at chart ,my opinion it will close bullish of some kind ,your talking about a month that had dark cloud then strong confirm prior off top of current range ,I'm feeling $ is in a bit of trouble generally ,streched

Quoting MaryAnne
{quote} What I meant was it did go below 1.61 and then rallied back to above 1.65 after Scotland chose to remain in UK. And then back all the way down... BTW, how do we tell where bottom is? I thought it would actually go below .4950 as bottom where it would be good to buy for long term ><
Attached Image (click to enlarge)
Click to Enlarge Name: USD monthly (DFB).png Size: 19 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #408,833
  • Feb 17, 2015 3:40am Feb 17, 2015 3:40am
Quoting Spudforex
{quote} tomorrow might just be a bit too soon ..
Yes, think your are right. Will range, short and long for the next couple of days. Anyway I just follow the chart now and have a sell limit waiting at 1.55
  • #408,834
  • Feb 17, 2015 3:43am Feb 17, 2015 3:43am
Quoting Ck87
{quote} Super hard to know bottom. But I'd assume that is going to be years from now when EUR/USD is well below 1.0
that was my initial assumption too... that no matter how good UK data is, they will be dragged down by EU woes.
  • #408,835
  • Feb 17, 2015 3:45am Feb 17, 2015 3:45am
Can feel the pent up energy on eU waiting toe explode to 1.15x
  • #408,836
  • Feb 17, 2015 3:48am Feb 17, 2015 3:48am
Quoting Bones
I'm just looking at chart ,my opinion it will close bullish of some kind ,your talking about a month that had dark cloud then strong confirm prior off top of current range ,I'm feeling $ is in a bit of trouble generally ,streched {quote} {image}

thanks for the chart
frankly, when it was at 1.7x it was hard to call it a "top" when there were many who clamored for 1.75 and above (analysts). The blue candle looked pretty strong and dark cloud cover was only confirmed 2 months later? (need minimum of 3 candles to confirm it). Back then it would have been really hard for TA people to call it a top, though some FA guys say it should drop since EU was doing bad and will affect UK... Hmmmn

And yea, we need this month and the next to close blue to confirm a piercing pattern has been formed... just wondering because the FA does not align with the TA for this rise, yet we saw how that could happen last year. Rally based on carney's words alone.
  • #408,837
  • Feb 17, 2015 3:51am Feb 17, 2015 3:51am
your incorrect 1 candle =confirm

Quoting MaryAnne
{quote} thanks for the chart frankly, when it was at 1.7x it was hard to call it a "top" when there were many who clamored for 1.75 and above (analysts). The blue candle looked pretty strong and dark cloud cover was only confirmed 2 months later? (need minimum of 3 candles to confirm it). Back then it would have been really hard for TA people to call it a top, though some FA guys say it should drop since EU was doing bad and will affect UK... Hmmmn And yea, we need this month and the next to close blue to confirm a piercing pattern has...
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #408,838
  • Feb 17, 2015 3:54am Feb 17, 2015 3:54am
here

Quoting Bones
dark cloud is high probability ,so is monthly ,on break ,may not break this week ,above 1.7 is a no no I could see 500 pips north, {image}
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #408,839
  • Feb 17, 2015 3:57am Feb 17, 2015 3:57am
Quoting LouiseZA
{quote} Yes, think your are right. Will range, short and long for the next couple of days. Anyway I just follow the chart now and have a sell limit waiting at 1.55
Usually get to take a better view at the end of the day .. an easy cliche to say but seems to work for me ..
  • #408,840
  • Feb 17, 2015 3:59am Feb 17, 2015 3:59am
Quoting Spudforex
{quote} Usually get to take a better view at the end of the day .. an easy cliche to say but seems to work for me ..
A lot of the better traders only look at the market at the close and make decisions then.
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