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Cable Update (GBPUSD)

  • #423,621
  • Feb 8, 2016 7:53am Feb 8, 2016 7:53am
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  • #423,622
  • Feb 8, 2016 8:02am Feb 8, 2016 8:02am
144 buy position
  • #423,623
  • Feb 8, 2016 8:20am Feb 8, 2016 8:20am
Quoting edyraper
will start bidding gbpusd around 1.35 for monthly swing targetting 1.60+- feb. 5th 2016
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  • #423,624
  • Feb 8, 2016 8:33am Feb 8, 2016 8:33am
GU should move back to 1.4450 soon
  • #423,625
  • Feb 8, 2016 8:48am Feb 8, 2016 8:48am
Quoting midouch
GU should move back to 1.4450 soon
why should it?
  • #423,626
  • Feb 8, 2016 8:58am Feb 8, 2016 8:58am
Quoting meanvel
{quote} You all know my opinion is "Don't bother with trendlines!" However, when it comes to trendlines... If your going to draw them, there is only ONE technically valid way to do it. The majority of people around here seem to do it wrong. Drawing rules... 1. A trendline must be drawn between swing lows or swing highs. 2. A trendline MUST NOT intersect any prices inbetween the drawing points. Shown in red is a incorrect trendline... Green is the correct trendline. I don't use trendlines, but I still remember how to draw them! {image} You draw between...
interesting market today. I cannot even image what foolishness I have committed today. I had 2 shorts from 1.45 covered them for 40 pips each and went long at 1.4425 and got stopped at 1.4370. reason I went long was crosses were looking stretched.
  • #423,627
  • Feb 8, 2016 9:08am Feb 8, 2016 9:08am
The bottom survived so far, if top break then we have a classic flag. Still think there's some upside for GBPUSD at these levels.
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  • #423,628
  • Feb 8, 2016 9:54am Feb 8, 2016 9:54am
I think it will continue falling and if it breaks below 1.4350 I will open new shorts.
  • #423,629
  • Feb 8, 2016 9:55am Feb 8, 2016 9:55am
gbp/usd is going nuts today. although it came close to my target of 1.4300 I didn't think today was the day. i was expecting month end for that to happen
  • #423,630
  • Feb 8, 2016 9:56am Feb 8, 2016 9:56am
Quoting james1254
I think it will continue falling and if it breaks below 1.4350 I will open new shorts.
be prepared for the chop is all I can say
  • #423,631
  • Feb 8, 2016 10:17am Feb 8, 2016 10:17am
Now that was a sweet trade... Just sold out of longs at 1.4430... Yea, I was holding long for an hour.

I was confident we would pop through 1.44 hard at some point... Predictable it was just after EU close.
"Don't fear a bubble until it starts to burst."
  • #423,632
  • Feb 8, 2016 10:23am Feb 8, 2016 10:23am
Quoting evrynet
{quote} why should it?
Went close already. It was an exhausted move, so my projection for the price area (where it should return should be around 1.4450)
  • #423,633
  • Feb 8, 2016 10:34am Feb 8, 2016 10:34am
Hmmm... This market is a bit more bearish than I expected. I did mention the sell stop pocket just under 1.44 at the start of the night, but I didn't expect us to make it.

Yea, this one was a squeeze... Had to hold through a megaphone volatility expansion.
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"Don't fear a bubble until it starts to burst."
  • #423,634
  • Feb 8, 2016 10:39am Feb 8, 2016 10:39am
My call for the nights pattern was correct, except... We went about 75 pips lower than I expected. LoL!

Quoting meanvel
A little analysis for tonight... The 4H downtrend is weakening. It's just a consolidation downtrend, counter to the daily uptrend. By morning we might see a bit more solid of a bid come in on rallies. But, still be aware of a dangerous breakdown zone below at 1.44. I don't think we will make it down there. A massive sell stop pocket is around there if we were to get close, so memorize that level over the next couple days until we pull upward. {image}
"Don't fear a bubble until it starts to burst."
  • #423,635
  • Feb 8, 2016 11:04am Feb 8, 2016 11:04am
Some decent bearish momentum in Cable. Starting to see some early signs of a bullish cyclical pattern, but that honestly could take a day or two to even begin to play out.
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When you hit 50, coffee becomes part of a proper modeling pipeline.
  • #423,636
  • Feb 8, 2016 11:21am Feb 8, 2016 11:21am
Quoting TheFxAnalyst
Some decent bearish momentum in Cable. Starting to see some early signs of a bullish cyclical pattern, but that honestly could take a day or two to even begin to play out. {image}
Wednesday - Thursday sounds about right ..
  • #423,637
  • Feb 8, 2016 11:36am Feb 8, 2016 11:36am
here I can help you out ,scary thing to me is you trade over 10 years apparently ?
I would seriously dispute anything outside the norm completely made up tech ,

https://www.dailyfx.com/forex/educat...e_Trading.html

Quoting gfscapital
Cable for the week in one chart {image}
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #423,638
  • Feb 8, 2016 11:46am Feb 8, 2016 11:46am
Quoting dean1star
{quote} Wednesday - Thursday sounds about right ..

I'll buy that for a dollar.
When you hit 50, coffee becomes part of a proper modeling pipeline.
  • #423,639
  • Feb 8, 2016 1:44pm Feb 8, 2016 1:44pm
Quoting Don96
{quote} Yup, I had a TP at the top of these two levels, currently in the middle of support at 23.6 fib and resistance at weekly pivot (1.4464) and daily pivot at 1.4455 ish, see how these levels react, might be good short term swing trades on buy or sell at these levels.
Great work
Come with me if you want to live....
  • #423,640
  • Feb 8, 2016 2:14pm Feb 8, 2016 2:14pm
i will wait for d1 ,or h4 should it go deep,
Attached Image (click to enlarge)
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On-site guru & also FF member's' psychiatrist, when not drinking tea
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