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Cable Update (GBPUSD)

  • #424,521
  • Feb 18, 2016 8:27pm Feb 18, 2016 8:27pm
one of us is right ,
one of us has 5 years experience over the other actually full time now past year
I'm the one "trying" here to give a bit of sound advise but I guess I'm the one looking like the bad person ,for bringing the news


Quoting Ill-b-back
I tried to be nice but not torturing myself any longer
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #424,522
  • Feb 18, 2016 9:17pm Feb 18, 2016 9:17pm
Quoting Bones
btw im not seeking to be right like you imply , you can check if you like ,I'm right a lot ,can only come with screen time I said be careful not to change the daily after such a move this is what I meant another reason I'm thinking cable will find support , http://www.forexfactory.com/showthre...61#post8761961 {quote} {image}
Fibs, patterns, tl's are dumb. If you look, the speech was there. Weird.
Attached Image (click to enlarge)
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The world you desire can be won. It exists.. it is real.. it is possible..
  • #424,523
  • Feb 18, 2016 9:21pm Feb 18, 2016 9:21pm
Quoting Davit
{quote} have 10 longs on this tP 45.50-46 may take a week regards
Well done!

My SL is still at 1.4303 for invalidation. I think it has coiled up on a minor correction 4 last 18 hours ready for an extended 5 up.
Elliott Wave for optimum entry, exit and risk management of trades
  • #424,524
  • Feb 18, 2016 10:22pm Feb 18, 2016 10:22pm
Quoting Mr. Scott
{quote} Fibs, patterns, tl's are dumb. If you look, the speech was there. Weird. {image}
Yep, agree... Just look at this shellshocking reaction to that ECB Announcement which echoed across all markets and caused a hard counter-trend rip and temporary trend change in the GBP/USD.

A lot of big currency moves have nothing to do with anything technical in the currencies pattern of movement... However, the large buildup in speculative short positions driving that EUR/USD downtrend before that announcement in expectation of more QE was kind of a bubble.

Attached Image (click to enlarge)
Click to Enlarge Name: ecbShellshock.png Size: 34 KB
"Don't fear a bubble until it starts to burst."
  • #424,525
  • Feb 18, 2016 10:30pm Feb 18, 2016 10:30pm
Quoting meanvel
{quote} Yep, agree... Just look at this shellshocking reaction to that ECB Announcement which echoed across all markets and caused a hard counter-trend rip and temporary trend change in the GBP/USD. A lot of big currency moves have nothing to do with anything technical in the currencies pattern of movement... However, the large buildup in speculative short positions driving that EUR/USD downtrend before that announcement in expectation of more QE was kind of a bubble. {image}
Sorry being facetious with my friend Bones....Not gonna be around to argue it, probably a good thing, but shock was in the chart....can remember it...

Edit: If you look close, you can also see turn today on that chart as I drew it for you guys but still have some new levels on there.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDWeekly218.jpg Size: 290 KB
The world you desire can be won. It exists.. it is real.. it is possible..
  • #424,526
  • Feb 18, 2016 11:11pm Feb 18, 2016 11:11pm
Quoting Bones
btw im not seeking to be right like you imply , you can check if you like ,I'm right a lot ,can only come with screen time I said be careful not to change the daily after such a move this is what I meant another reason I'm thinking cable will find support , http://www.forexfactory.com/showthre...61#post8761961 {quote} {image}
I will watch for couple of hours. There are two things happening now. gbp is getting strong on the crosses. specially gbp/aud which may be attributed to aud fall has well but it held 2.0000 very well inspite of breaking it easily. another thing I see is this cad not making further gains . I was expecting it to slide to 3588. It did not go there. so gbp/cad is also looking bullish. I have to get a signal from eur/gbp to long this now. break of 0.7740 will signal that
  • #424,527
  • Feb 19, 2016 12:33am Feb 19, 2016 12:33am
TL retest ever so close now after the DOW has turned south at the end of the 5th multi-year wave.

I think safe haven $ bull drivers will kick in soon after the retest

maybe as early as next week
Attached Image(s) (click to enlarge)
Click to Enlarge Name: US30Monthly.png Size: 29 KB
Click to Enlarge Name: US30Weekly.png Size: 29 KB
Come with me if you want to live....
  • #424,528
  • Feb 19, 2016 12:51am Feb 19, 2016 12:51am
Lifting slightly toward the open... Market is feeling strong. No short trades unless we break above 45 strongly and go into an exhaustion pattern. Watch the dangerous bottom ledge... Going to be massive sell stops building as we trend up the way that thing is formed...

Attached Image (click to enlarge)
Click to Enlarge Name: criticalHourly.png Size: 11 KB
"Don't fear a bubble until it starts to burst."
  • #424,529
  • Feb 19, 2016 1:02am Feb 19, 2016 1:02am
Getting a long trade around 1.43 or lower early session is probably wishful thinking... This market even moving today until CPI Data might be wishful thinking? LoL!
"Don't fear a bubble until it starts to burst."
  • #424,530
  • Feb 19, 2016 1:34am Feb 19, 2016 1:34am
70 pips closed on first target reached
  • #424,531
  • Feb 19, 2016 1:43am Feb 19, 2016 1:43am
Just sitting and waiting... Probably no trades for me until next hour or even until the retail data. Gotta be sure this market isn't setting up to straight divebomb the first major support level on this push.

Quote
Feb 18, 2016 6:07pm (5 hr ago)
Sell stop pockets just below... Ill be looking to trade longs after each of these are breached and cleared. If they are...
1.4255
1.4235
"Don't fear a bubble until it starts to burst."
  • #424,532
  • Feb 19, 2016 1:46am Feb 19, 2016 1:46am
Quoting meanvel
Just sitting and waiting... Probably no trades for me until next hour or even until the retail data. Gotta be sure this market isn't setting up to straight divebomb the first major support level on this push. "Sell stop pockets just below... Ill be looking to trade longs after each of these are breached and cleared. If they are... 1.4255 1.4235"
Keep in mind headlines risk is high with ongoing Brexit negotiation at the EU summit...
  • #424,533
  • Feb 19, 2016 1:50am Feb 19, 2016 1:50am
Quoting elbert3
{quote} Hi D got your shout, sorry not been here but i have a big multi building plots on the go somit is taking up my time,i am even getting stuck in hard working on the site , and its great to come home feeling thatbyou have worked for your dinner, even thou i train weights still doe not beet hard work , but it looks like your nailing it , you acc must be up there, . Regards B
Btw thats a good call there E..
Reminds me February i finish here back in September - always great when you get back into the real world.
Looking forward to it for sure..
  • #424,534
  • Feb 19, 2016 2:16am Feb 19, 2016 2:16am
Quoting meanvel
Getting a long trade around 1.43 or lower early session is probably wishful thinking... This market even moving today until CPI Data might be wishful thinking? LoL!
just watched the wired movement on gbp/jpy and gbp/aud and both are struggling to take a move up. probably got to do with yen and aussie. looking weird now this price action. if it dives it will not stop at 1.42
  • #424,535
  • Feb 19, 2016 2:22am Feb 19, 2016 2:22am
Brexit shemexit... A Brexit would be better for them. Eurozone is useless...
"Don't fear a bubble until it starts to burst."
  • #424,536
  • Feb 19, 2016 2:31am Feb 19, 2016 2:31am
It's not like a Brexit would be bad for the GU... The fear and uncertainty surrounding a potential exit is one factor in sinking the pound in recent months. Markets are not rational.

If they exit, everyone will relax... And be like "Oh, that's over... Phew!" GU will rocket.
"Don't fear a bubble until it starts to burst."
  • #424,537
  • Feb 19, 2016 2:31am Feb 19, 2016 2:31am
Quoting meanvel
Brexit shemexit... A Brexit would be better for them. Eurozone is useless...
For the time being the market seems to think that brexit is bad for sterling so I personally would not trade against that consensus view
  • #424,538
  • Feb 19, 2016 2:47am Feb 19, 2016 2:47am
crosses are breaking down slowly. gbp/aud just took a tumble. gbp/joy is kept floated by usd/jpy. take your pick now. retail sales will be a 80 pip move
  • #424,539
  • Feb 19, 2016 2:49am Feb 19, 2016 2:49am
Quoting giveachance
crosses are breaking down slowly. gbp/aud just took a tumble. gbp/joy is kept floated by usd/jpy. take your pick now. retail sales will be a 80 pip move
Still playing in range, and currently in the middle, don't think I'll pick any sides coz of the low R:R
Luck shines on the positive.
  • #424,540
  • Feb 19, 2016 3:07am Feb 19, 2016 3:07am
Quoting giveachance
crosses are breaking down slowly. gbp/aud just took a tumble. gbp/joy is kept floated by usd/jpy. take your pick now. retail sales will be a 80 pip move
Retail sales will be 80 pip... Hah... Ill take the other side of that bet.
"Don't fear a bubble until it starts to burst."
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