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Cable Update (GBPUSD)

  • #423,121
  • Feb 3, 2016 6:09am Feb 3, 2016 6:09am
As forseen. The price moved to next resistance point.
Theres too much confusion about this forum. People overthinking and overanalysing.
Too much brain noise where it is only support and resistance.
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  • #423,122
  • Feb 3, 2016 6:09am Feb 3, 2016 6:09am
This is one of the cleanest Dow Theory trends I recall ever seeing in Forex...

For those who do not know, Dow theory is a wave theory... It can be basically summed up as "A bull market is one that makes higher highs, and higher lows each wave."

Btw, quick cautionary note to those still playing long. Were running out of steam here. I wouldn't recommend shorting, but the market is failing to find a bid above 1.45... Real profit taking could hit, or even a small crash.

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"Don't fear a bubble until it starts to burst."
  • #423,123
  • Feb 3, 2016 6:10am Feb 3, 2016 6:10am
Quoting meanvel
No they don't... {quote}
Like you know for sure; don't be over confident about it.
I will leave it here as there is no point dragging this.
... I'm not crazy, just Paranoid ...
  • #423,124
  • Feb 3, 2016 6:12am Feb 3, 2016 6:12am
Quoting elbert3
{quote} morning what number do you have short side,,regards E
Afternoon E sorry for keeping you waiting busy at the office

15m might travel the channel
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persistence and determination alone are omnipotent
  • #423,125
  • Feb 3, 2016 6:23am Feb 3, 2016 6:23am
Quoting Ll1979
{quote} Afternoon E sorry for keeping you waiting busy at the office 15m might travel the channel {image}
cheers on the case just writing the notes lol,,,, Regard sE
  • #423,126
  • Feb 3, 2016 6:24am Feb 3, 2016 6:24am
A lot of the people on board this trend from earlier are taking some profits before ADP.
"Don't fear a bubble until it starts to burst."
  • #423,127
  • Feb 3, 2016 6:50am Feb 3, 2016 6:50am
SELL
1.45041
Stop
([COLOR=#EC174A !important]–[/color]/[COLOR=#0076C0 !important]–[/color])
Guaranteed Stop
Set Trailing Stop
Limit
([COLOR=#EC174A !important]1.43841[/color]/[COLOR=#0076C0 !important]1.46259[/color])P/L £[COLOR=#0076C0 !important]2,400.00[/color]
Hedging
Margin required for trade:
700.00 GBP

a trade swop
  • #423,128
  • Feb 3, 2016 7:14am Feb 3, 2016 7:14am
Closing long from 4426 now
Forex, awful to watch, AWESOME to play
  • #423,129
  • Feb 3, 2016 7:20am Feb 3, 2016 7:20am
Updating my thoughts about what I said a couple hours ago...

Well, so much for a ADP dip. The money just doesn't stop coming tonight, lol...

Quoting meanvel
There is only two trades right now... Either you try to buy and play dips upward into resistance, or you wait for a possible big dip around ADP which may give a solid run setup. I don't recommend shorting anything anywhere for hours. This market could clip a buy stop pocket just above 1.4475 and fly straight vertical through 1.5. {quote}
"Don't fear a bubble until it starts to burst."
  • #423,130
  • Edited 7:34am Feb 3, 2016 7:24am | Edited 7:34am
Its best not to think like this ,honestly most retail traders never even make it to real market ,a chart will go through all the normal motions to throw out as many as possible ,its the whole point

http://www.forexfactory.com/showthre...12#post8728412

Quoting Charith
{quote} As I read it, players are waiting for long and short build up. When they see more longs, they move it down, and vice versa. Haven't you notice that happen before? And once they move it in one direction, say up, if more bulls jump in thinking it a breakout, they pull it down. If more bears jump in looking for the reversal, they keep moving it up. This is what I see on the market, don't you?
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #423,131
  • Feb 3, 2016 7:30am Feb 3, 2016 7:30am
This is a small climax event right here. Bears are throwing in the towel, everyone that sold out and was cautious before ADP rushed back in. Everyone was like "Just screw it, no ADP dip to get on board... Just pile in, pile in!!!"

I'm calling a short term top here for a hour or so.
"Don't fear a bubble until it starts to burst."
  • #423,132
  • Feb 3, 2016 7:30am Feb 3, 2016 7:30am
4 hour 200 ema watch here 4535 area ,pass then 4602
  • #423,133
  • Feb 3, 2016 7:49am Feb 3, 2016 7:49am
Quoting meanvel
This is a small climax event right here. Bears are throwing in the towel, everyone that sold out and was cautious before ADP rushed back in. Everyone was like "Just screw it, no ADP dip to get on board... Just pile in, pile in!!!" I'm calling a short term top here for a hour or so.
could be 15 mins ??
  • #423,134
  • Feb 3, 2016 7:55am Feb 3, 2016 7:55am
I doubt it... That move burned up a lot of buying pressure. But, you never know... Buyers just keep flooding in like the GU is going out of style, lol...

Quoting elbert3
{quote} could be 15 mins ??
"Don't fear a bubble until it starts to burst."
  • #423,135
  • Feb 3, 2016 7:58am Feb 3, 2016 7:58am
Quoting meanvel
I doubt it... That move burned up a lot of buying pressure. But, you never know... Buyers just keep flooding in like the GU is going out of style, lol... {quote}
4447 trade back
  • #423,136
  • Feb 3, 2016 8:05am Feb 3, 2016 8:05am
Quoting elbert3
{quote} 4447 trade back
I want 4450 as well, seems nature for a fresh breakout to fall back and test the previous top once more.
  • #423,137
  • Feb 3, 2016 8:08am Feb 3, 2016 8:08am
some heavy resistance on the daily
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persistence and determination alone are omnipotent
  • #423,138
  • Feb 3, 2016 8:10am Feb 3, 2016 8:10am
Quoting Darkforce
{quote} I want 4450 as well, seems nature for a fresh breakout to fall back and test the previous top once more.
been ok day today head was not in it hence the lack of posts,
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playing the game thou , sorry about the lines
  • #423,139
  • Feb 3, 2016 8:10am Feb 3, 2016 8:10am
When I say this, let me extrapolate on exactly what this means.

The violence of that move after ADP sucked in everyone who was watching the market at that moment looking to buy in. There was also heavy capitulation of short positions. Bears in panic, bulls rushing in.

After a climax, a bull market usually needs to consolidate for a while until it can mount a rally and push into new highs again.

Quoting meanvel
That move burned up a lot of buying pressure.{quote}
"Don't fear a bubble until it starts to burst."
  • #423,140
  • Feb 3, 2016 8:11am Feb 3, 2016 8:11am
pay attention to the weekly it dosent matter today is wednesday ,you can look and know for def I don't want to short past open
today up 130 pips ,if pull back it will most likely be tomorrow ,
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On-site guru & also FF member's' psychiatrist, when not drinking tea
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