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Cable Update (GBPUSD)

  • #423,721
  • Feb 9, 2016 8:24am Feb 9, 2016 8:24am
Quoting MarkoTrd
really, why don't start (UP)
ah ok, sl hunting, still long...
  • #423,722
  • Feb 9, 2016 8:47am Feb 9, 2016 8:47am
Hi,

It looks to me that the price has hit the bottom of the trend line? In my limited experience, I'm not sure what happens now? Could The price plummet below the trend line or is it likely to bounce back up? this is one area I always have problems predicting!

Cheers P
  • #423,723
  • Feb 9, 2016 8:49am Feb 9, 2016 8:49am
Quoting RadboneFX
Hi, It looks to me that the price has hit the bottom of the trend line? In my limited experience, I'm not sure what happens now? Could The price plummet below the trend line or is it likely to bounce back up? this is one area I always have problems predicting! Cheers P
Flip a coin mate.
Don't get mad, get even!
  • #423,724
  • Feb 9, 2016 8:54am Feb 9, 2016 8:54am
Quoting RadboneFX
Hi, It looks to me that the price has hit the bottom of the trend line? In my limited experience, I'm not sure what happens now? Could The price plummet below the trend line or is it likely to bounce back up? this is one area I always have problems predicting! Cheers P
Alternatively look at it logically and rationally, if the price was falling for quite some time, what are the chances that your trendline is going to be the the ONE where a reversal is going to occur? The chances are much higher that price will keep falling.
Now you can try to catch the "falling knife" and good luck with that, because if you succeed you can make shitloads of money, if market wasn't a bitch it is.
Don't get mad, get even!
  • #423,725
  • Feb 9, 2016 8:59am Feb 9, 2016 8:59am
Cable is quite tricky today, weekly might suggest that we are close to the end of retracing last weeks candle.

I think the move below 1.44 is rejected for now and it will try to move back above 1.4422, then try go higher above 1.45

Let's see
Attached Image(s) (click to enlarge)
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  • #423,726
  • Feb 9, 2016 9:05am Feb 9, 2016 9:05am
changed my mind on gbp. I think we are heading higher. will look to load gbp/aud longs. lost some money on shorts today. gbp/aud went very high almost to give back 200 pips. monster
  • #423,727
  • Feb 9, 2016 9:05am Feb 9, 2016 9:05am
Beautiful... Calling it a day!

Attached Image (click to enlarge)
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"Don't fear a bubble until it starts to burst."
  • #423,728
  • Feb 9, 2016 9:07am Feb 9, 2016 9:07am
Quoting Darkforce
Cable is quite tricky today, weekly might suggest that we are close to the end of retracing last weeks candle. I think the move below 1.44 is rejected for now and it will try to move back above 1.4422, then try go higher above 1.45 Let's see {image} {image}
I think EURGBP is a wild card to this view. It broke above 0.78, and could go higher, but EURGBP PA is full of fake out.

Hope EURGBP stays below 0.78.
  • #423,729
  • Feb 9, 2016 9:13am Feb 9, 2016 9:13am
#GBPUSD So far a FNL looking for a pop today and will sell tomorrow. if my calculation are correct
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd 2-9-16.png Size: 48 KB
"W. D. Gann said that time is the most important factor among all things."
  • #423,730
  • Feb 9, 2016 9:17am Feb 9, 2016 9:17am
Quoting USDollar
#GBPUSD So far a FNL looking for a pop today and will sell tomorrow. if my calculation are correct {image}
Yellen speaks on Thursday, that's another wild card, I don't remember that she gives any significant speech since the new year.

Now given many Fed officials provided their take on the recent development, I think Yellen's stance will still be the most significant.

I personally think USD could go higher after the NFP last Friday, simply because the wage inflation is on the rising, and that fits into Fed's framework of further hiking conditionality, and current pressure on USD is purely risk off ahead of Yellen.
  • #423,731
  • Feb 9, 2016 9:20am Feb 9, 2016 9:20am
Quoting Darkforce
{quote} Yellen speaks on Thursday, that's another wild card, I don't remember that she gives any significant speech since the new year. Now given many Fed officials provided their take on the recent development, I think Yellen's stance will still be the most significant. I personally think USD could go higher after the NFP last Friday, simply because the wage inflation is on the rising, and that fits into Fed's framework of further hiking conditionality, and current pressure on USD is purely risk off ahead of Yellen.
she speaks tomorrow (wednesday) FYI
  • #423,732
  • Feb 9, 2016 9:25am Feb 9, 2016 9:25am
Quoting evrynet
{quote} she speaks tomorrow (wednesday) FYI
Hahaha, thanks for pointing out.

I guess that's even better.
  • #423,733
  • Feb 9, 2016 9:42am Feb 9, 2016 9:42am
Quoting Darkforce
{quote} Yellen speaks on Thursday, that's another wild card, I don't remember that she gives any significant speech since the new year. Now given many Fed officials provided their take on the recent development, I think Yellen's stance will still be the most significant. I personally think USD could go higher after the NFP last Friday, simply because the wage inflation is on the rising, and that fits into Fed's framework of further hiking conditionality, and current pressure on USD is purely risk off ahead of Yellen.
yes agree today its should pop but it should be a short lived rally and then more downside if my calculation are correct.... adding that auntie Yoda Yellen is speaking adds fuel to the fire.. ;-)
"W. D. Gann said that time is the most important factor among all things."
  • #423,734
  • Feb 9, 2016 9:47am Feb 9, 2016 9:47am
Quoting MarkoTrd
{quote} ah ok, sl hunting, still long...
nice mf... now it's ok, thanks! Again.
  • #423,735
  • Feb 9, 2016 9:52am Feb 9, 2016 9:52am
certainly looks like that month pivot is holding up ,

Quoting dean1star
{quote} Well Tony i just hope that from time to time these situations help the newer traders. Far from it do i know all and for sure i take losses as we all do but its always cool to learn and for sure we have all Been there. I am sure that with your opinion and Elberts then these negative situations actually become positive, its just worrying when traders say stuff like i am giving you the green light for longs and i hope new traders dont fall for those trades or if they do then i guess they learn pretty fast lol. Saying that i shall be scalping...
Attached Image (click to enlarge)
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #423,736
  • Feb 9, 2016 9:55am Feb 9, 2016 9:55am
if it can take out todays high 4527 ish 4470 could be a stall point
  • #423,737
  • Feb 9, 2016 9:56am Feb 9, 2016 9:56am
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as above post
  • #423,738
  • Feb 9, 2016 9:58am Feb 9, 2016 9:58am
loverly top now and it might find some quick orders 4587 weekly 10 ema would be a target to get it longer
  • #423,739
  • Feb 9, 2016 10:01am Feb 9, 2016 10:01am
Attached Image (click to enlarge)
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gbj on the trip, emas on the lower scale want it up but 100 and 200 sit above
  • #423,740
  • Feb 9, 2016 10:02am Feb 9, 2016 10:02am
Quoting meanvel
{quote} If were going to make that breakout upward... I wouldn't expect it until around the close of European session. That would be just under six hours off.
I was right, lol... Too bad I only captured 60 pips of it total...

That was my reply to someone who asked me about the potential for a 1.4490-1.5 breakout today.
"Don't fear a bubble until it starts to burst."
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