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Cable Update (GBPUSD)

  • #417,261
  • Jul 17, 2015 2:20am Jul 17, 2015 2:20am
Quoting adc
{quote} yep I'm in too. Rgds, Angus
just posted in Mr S, my mentor ?? he is the one with all the money ( he will read this,lol ) short trade break to the top then short until the plan goes wrong, it support and tl on the chart,, i have to run be on trade back in 1 hour
  • #417,262
  • Jul 17, 2015 3:39am Jul 17, 2015 3:39am
strong reaction off that 1hr/potentially 4hr double top...see how the daily closes but weekly could still remain 'constructive' with a possible bullish engulfing candle of last week's bearish bodied hammer candle on this t/f...will see how it closes. I Was looking at the fractal price swing points ( as my own mentor taught me to do) on this weekly t/f and this week's close could see a 3rd HL after the HH at 5929 so in that sense could also still remain 'constructive ?'

best wishes.
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it's all gone a bit........
  • #417,263
  • Jul 17, 2015 3:42am Jul 17, 2015 3:42am
Quoting kingofmicro
all gbp pairs up (all 7 ) {image}
reminding
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  • #417,264
  • Jul 17, 2015 3:51am Jul 17, 2015 3:51am
possible the double top 1hr will put a few buyers off ? price at the low at 61.8% of last major 1hr/4hr swing up, daily pivot, rising 1hr t/line and a former 1hr/minor 4hr swing low zone - ie where price found demand previously....there will be participants ready to buy the dip no ?

best wishes
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it's all gone a bit........
  • #417,265
  • Jul 17, 2015 5:10am Jul 17, 2015 5:10am
initiated shorts over night at 1.5630 and 1.5665. With Carney now making it obvious he will lag behind Yellen on rate hikes, and a relatively small amount of positioning, I think Cable could go lower back towards 1.5300.
Twitter: @TrendersGame
  • #417,266
  • Jul 17, 2015 7:35am Jul 17, 2015 7:35am
Quoting Luther
lol... What the hell is cable doing? That drop off 5672 and the pop off 5552 were just brilliant. Isn't anyone trading this? Everything else is barely moving, but Sterling's on a rampage.

Yup with just 1 bar cover 60% of daily movement
  • #417,267
  • Jul 17, 2015 7:41am Jul 17, 2015 7:41am
Quoting Luther
lol... What the hell is cable doing? That drop off 5672 and the pop off 5552 were just brilliant. Isn't anyone trading this? Everything else is barely moving, but Sterling's on a complete rampage.
only LOndon Banksters pushing on FIX
  • #417,268
  • Jul 17, 2015 7:42am Jul 17, 2015 7:42am
Quoting Luther
lol... What the hell is cable doing? That drop off 5672 and the pop off 5552 were just brilliant. Isn't anyone trading this? Everything else is barely moving, but Sterling's on a complete rampage.
I had a buy at the bottom but read this thread and got out before it popped. Danmit. I wish we knew if the traders making these posts were actual legit trained traders.
  • #417,269
  • Jul 17, 2015 8:01am Jul 17, 2015 8:01am
Quoting Luther
{quote} My approach with this pair recently is wait for Carney to start talking, otherwise it's not worth the entry fee. As soon as he went over the wires it lit up completely. I really don't know what he's on about talking up rate hike with CPI sitting at zero, but both times this week volatility went through the roof. {quote} Don't listen to anyone on a forum. Most people don't know what they're talking about anyway. Just trade what's in front of you. It's the only way to succeed in this business.
Yellen vs Carney. Lets see who hike the rate 1st in the end
  • #417,270
  • Jul 17, 2015 11:21am Jul 17, 2015 11:21am
Quoting Dano12
{quote} only LOndon Banksters pushing on FIX
Not sure if you followed but that was perfect GBP ride for the end of this week. Perfect pin on H eurgbp - Sell, gbpaud - another pin pointing UP buy, cable obviously followed Up bouncing of 560.First two gave clear signals it's time to Buy pound
  • #417,271
  • Jul 17, 2015 1:29pm Jul 17, 2015 1:29pm
Looks like weekly will probably close as a bullish engulfing of that previous week's hammer (ish) looking candle and a new fractal Higher Low (HL) is made by it's close on that t/f. Daily looks interesting - a possible doji (indecision) candle on this t/f when it closes as the attempt on the 5676 weekly hi was rebuffed down to 5542 before a strong bounce up to the rebound high of 5642 where it sold off again. Whilst 1hr and 4hr look a bit congested trading in a channel between that 5676 weekly hi and today's 5542 lo, the daily and weekly t/f still look more bullish than anything else (ie more bullish than rangy or bearish.) Immediate resistance now becomes the former 1hr swing hi at 5642 before that former 1hr/4hr former swing hi to 5676 - this at the former daily swing hi/lo/hi zone that has acted as resistance then support, then resistance again and extends to the 61.8% of the main recent 5929-5328 fall which is at 5698/5700.

best wishes.
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it's all gone a bit........
  • #417,272
  • Jul 17, 2015 8:05pm Jul 17, 2015 8:05pm
There is possibility to touch 1.5450 again before going North.

And more possibility going North and never look back next week.
  • #417,273
  • Jul 17, 2015 8:08pm Jul 17, 2015 8:08pm
Quoting Patternz
{quote} I had a buy at the bottom but read this thread and got out before it popped. Danmit. I wish we knew if the traders making these posts were actual legit trained traders.
Its ranging price action , Luther. We buy dip and sell on top about 3 to 4 rounds.
  • #417,274
  • Jul 17, 2015 9:37pm Jul 17, 2015 9:37pm
Expected low inflation from US; jumped in too early. Watching this IMF debt relief situation as it plays out; if consensus is reached I am earmarking this to 1.57436-1.57801 range.
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  • #417,275
  • Edited 11:13pm Jul 17, 2015 10:31pm | Edited 11:13pm
Quoting arinforex
{quote} Its ranging price action , Luther. We buy dip and sell on top about 3 to 4 rounds.
While we're inside the channel, I'm only taking smaller long and short trades off SR, no longer term positions.

We need to see how the flag plays out, but one thing I'm watching out for is a potential impulse move down and slingshot long off support.
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  • #417,276
  • Jul 18, 2015 12:50am Jul 18, 2015 12:50am
Quoting Luther
{quote} While we're inside the channel, I'm only taking smaller long and short trades off SR, no longer term positions. We need to see how the flag plays out, but one thing I'm watching out for is a potential impulse move down and slingshot long off support. {image}
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Hi Luther , i can some what agree with that s/r in play from the arrows and fib the possible levels, but it is weekend ????
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Day we can see 38% support and 61% just above so last long support we can see 100 in blue that sits on that tl, break that and short to 5170 , long ext 6045 61% and 6296 we get 161, and a 61% combo . that me thoughts on the line open to debate, or ridicule ,lol , Regards E ,
  • #417,277
  • Jul 18, 2015 11:47pm Jul 18, 2015 11:47pm
You want simplicity?
As long as Price is below institutional 200EMA sell the rallies.
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In trading, you have to be defensive and aggressive at the same time
  • #417,278
  • Jul 19, 2015 12:22am Jul 19, 2015 12:22am
Quoting Patternz
{quote} I had a buy at the bottom but read this thread and got out before it popped. Danmit. I wish we knew if the traders making these posts were actual legit trained traders.
I am sorry to know that you missed that opportunity. That is the reason why I made it a point to study and come up with my own strategy. I come to this forum to watch what others ard seeing and compare it to what I am seing. But I am personally responsible for the positions I take. I dont base my trades on other people's opinion. As traders, we must be responsible for our own trades. But if we depend on other people's opinion to trade, then we would be gamblers and not traders.
  • #417,279
  • Jul 19, 2015 12:33am Jul 19, 2015 12:33am
it seems to me that BOE governor hawkish tone to hike rate at the turn of the year is more useful than any piece of bad data, i am longed on this pair.

http://uk.reuters.com/article/2015/0...0PQ29720150717
  • #417,280
  • Jul 19, 2015 11:26am Jul 19, 2015 11:26am
for me, consolidation has been with high volume since 2008. We are seeing macd divergence with institutions buying heavy at the lows. channel is leading slightly bullish. weekly trendline break will be first trigger to build long position, open and close above will be confirmation. I hope I can hold out long enough to see the majority of this move into buy account!
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