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Cable Update (GBPUSD)

  • #428,601
  • Apr 16, 2016 2:35pm Apr 16, 2016 2:35pm
Quoting albchr
{quote} Sorry, was the only one left and it's not for sale. {image}
DAMMMMMM
  • #428,602
  • Edited 3:14pm Apr 16, 2016 2:35pm | Edited 3:14pm
well your like most on the wrong tf to do that its not easy sometimes its clear sometimes not like cable ,someone who says no one knows at all,ever ,
I gotta wonder why they bother ,tell me you know on the hourly when the market is fractal ,your hourly would be exactly the same as a daily ,your confident where its going in coming hours/hour mins/min how else you gonna trade?


actually id say more data per candle is an easier read,lower tf traders only, are more likely to say it can't be read further than the tf their on
Quoting forexintradi
I am just amazed how many people are predicting how currencies will perform on next days....wooowwww....Id like to know where to buy the same crystal ball...Id be billonary as well!!!
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #428,603
  • Apr 16, 2016 2:40pm Apr 16, 2016 2:40pm
Quoting Akt
{quote} Thank you Bones best wishes www.youtube.com/watch?v=9p4moSCSHao
Hey Michael, good deal nice reviews of the S/D zones! I liked the vid on GU also. What's your take on GU atm?

my take is that we are going to trigger some S zones on the upside now.
  • #428,604
  • Apr 16, 2016 2:53pm Apr 16, 2016 2:53pm
looks like price could be interested to revisit this level right here. Now I know we are in a downtrend, but the re-test doesn't actually void the downtrend.
The swing higher only will make the forthcoming sell off stronger. What do you think?
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  • #428,605
  • Apr 16, 2016 3:02pm Apr 16, 2016 3:02pm
Quoting asgcorp
looks like price could be interested to revisit this level right here. Now I know we are in a downtrend, but the re-test doesn't actually void the downtrend. The swing higher only will make the forthcoming sell off stronger. What do you think? {image}
Hello asgcorp

Please see chart below. there is also a video review on the same channel.

best wishes

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Be careful what you think because your thoughts run your life..Solomon
  • #428,606
  • Apr 16, 2016 3:12pm Apr 16, 2016 3:12pm
Quoting Bones
im not sure if you can draw a pennant like that ,could b I suppose ,its not like its properly respecting it {image} {image}
The difference between a pennant and a triangle is the flag pole in the beginning.
As a pennant is a sign of trend continuation, a triangle can go in either direction.

So as I see it place a sell stop below and a buy stop above the triangle.

Let the market tell us where it want's to go at this point, we don't have to predict. Only good trade/risk management is nessecary.


Grtz
Attached Image
What's that smell? ---- I smell money!
  • #428,607
  • Apr 16, 2016 3:31pm Apr 16, 2016 3:31pm
Quoting Don96
I wonder if we have 1.3962x next, if 1.4233x holds, its got a shot.. I'm probably wrong​
not doing too badly with GBP pairs, got GBP/JPY nailed last week...

ill be shorting until above 1.4250, if it isn't taken, 1.3960 we have, and then x2 would be exactly in line with a double bottom, think we may need 1.457x on my prev post to get lower than this (1.34xx/1.3xxx)
  • #428,608
  • Apr 16, 2016 3:44pm Apr 16, 2016 3:44pm
Hi S ,I don't see a triangle ,personally I wouldn't be happy to draw lines like that ,could go anyway side consolidation generally breaks to trend ,but this is highly supported zone ,main thing for me is can the monthly go positive

Quoting SteFX85
{quote} The difference between a pennant and a triangle is the flag pole in the beginning. As a pennant is a sign of trend continuation, a triangle can go in either direction. So as I see it place a sell stop below and a buy stop above the triangle. Let the market tell us where it want's to go at this point, we don't have to predict. Only good trade/risk management is nessecary. Grtz {image}
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #428,609
  • Apr 16, 2016 3:46pm Apr 16, 2016 3:46pm
Hi Michael I enjoyed your video ,and understand what your saying ,nice to see start on monthly approach as mine
always appreciate the effort on these


Quoting Akt
{quote} Thank you Bones best wishes www.youtube.com/watch?v=9p4moSCSHao
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #428,610
  • Apr 16, 2016 3:47pm Apr 16, 2016 3:47pm
EUR/GBP. My views on this pair

best wishes

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Be careful what you think because your thoughts run your life..Solomon
  • #428,611
  • Apr 16, 2016 3:51pm Apr 16, 2016 3:51pm
That's actually the problem I got with shorting GBP USD. You can't have EG go down and GU go down. Won't happen.
  • #428,612
  • Apr 16, 2016 3:55pm Apr 16, 2016 3:55pm
Quoting Don96
{quote} not doing too badly with GBP pairs, got GBP/JPY nailed last week... ill be shorting until above 1.4250, if it isn't taken, 1.3960 we have, and then x2 would be exactly in line with a double bottom, think we may need 1.457x on my prev post to get lower than this (1.34xx/1.3xxx)
​don't trade EG often only use for strength... all I have is a short that has such a wide target range before a long its not worth it, it may play out but RR isn't great... longs from 0.747xx may open 0.774x to 0.782x... also would have a valid 0.88 target. not confident, wont be taking it, best RR closer to 0.73... if 0.782x holds then targets around 0.71xx and 0.68x are valid... Euro strength to push EU to 1.16x/1.17 along with USD weakness for GU rise to 1.457x could help EG reach these, one will be wrong... maybe (probably) both, that's how I'm going to play, circumstances will/may change as they always do ill repost closer to the levels, just calling before we get there as I have with my other GJ/GU posts good luck all
  • #428,613
  • Apr 16, 2016 3:58pm Apr 16, 2016 3:58pm
Quoting asgcorp
That's actually the problem I got with shorting GBP USD. You can't have EG go down and GU go down. Won't happen.
​
  • #428,614
  • Apr 16, 2016 4:00pm Apr 16, 2016 4:00pm
apart from last year and many other times



Quoting asgcorp
That's actually the problem I got with shorting GBP USD. You can't have EG go down and GU go down. Won't happen.
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #428,615
  • Apr 16, 2016 4:04pm Apr 16, 2016 4:04pm
thanks for a quick recap in history. I'm not trading history but trading today. EG is correlated go GU @ -90% atm on daily.
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  • #428,616
  • Apr 16, 2016 4:04pm Apr 16, 2016 4:04pm
Quoting asgcorp
That's actually the problem I got with shorting GBP USD. You can't have EG go down and GU go down. Won't happen.
that's because EG going up
Come with me if you want to live....
  • #428,617
  • Apr 16, 2016 4:06pm Apr 16, 2016 4:06pm
Quoting Don96
{quote} ​don't trade EG often only use for strength... all I have is a short that has such a wide target range before a long its not worth it, it may play out but RR isn't great... longs from 0.747xx may open 0.774x to 0.782x... also would have a valid 0.88 target. not confident, wont be taking it, best RR closer to 0.73... if 0.782x holds then targets around 0.71xx and 0.68x are valid... Euro strength to push EU to 1.16x/1.17 along with USD weakness for GU rise to 1.457x could help EG reach these, one will be wrong... maybe (probably) both,...
yeah EG definately got a long way to drop. The R/R is to the downside. The average year range is 700 points, we've outdone the average now and it's due to refund some of the gains now.
  • #428,618
  • Apr 16, 2016 4:07pm Apr 16, 2016 4:07pm
Quoting Ill-b-back
{quote} that's because EG going up
last time I checked it sold off 150 points.
  • #428,619
  • Apr 16, 2016 4:12pm Apr 16, 2016 4:12pm
Quoting asgcorp
{quote} last time I checked it sold off 150 points.
exactly. Now time to go up after retracing to retest the boken ascending monthly TL which the weekly TF shows the market recognises
Come with me if you want to live....
  • #428,620
  • Apr 16, 2016 4:13pm Apr 16, 2016 4:13pm
this price structure on EG daily is a common uptrend termination price structure.
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