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Cable Update (GBPUSD)

  • #430,501
  • Edited 1:17pm May 4, 2016 1:06pm | Edited 1:17pm
Works with the EUR too - and even better sometimes because of the EUR weighting in the USD index. Not the trade weighted or the LTE USD index....those are calculated differently.

EUR: 57%
JPY: 13%
GBP: 11%

and...the USD index is, an INDEX. So, the movements of those currencies are what dictates the dollars direction at the end of the day and if you have the EUR and one other (JPY or GBP) in a similar direction/topping/bottoming together, you're going to have a clear view of what's in store for the dollar. Shocks me how many traders don't say anything about this.

I've watched a EUR futures chart with a DX overlay on it and the two charts separately for a while....It's a mirror....

The attachment is a WEEKLY chart, so, it'll definitely take some time for it to play out, but, it will. It's not a day trade but a longer term idea to be mindful of as the FED keeps trying to keep it's credibility intact....and OIL doesn't play nice...and interest rates/ROI take a backseat again...

Attached Image (click to enlarge)
Click to Enlarge Name: EUR_DX_COMPARE.png Size: 145 KB


Heh...hadn't done it with the GBP...nice...

Attached Image (click to enlarge)
Click to Enlarge Name: DX_6BOverlay_Weekly.png Size: 60 KB


another favorite is the NKD and the JPY...similar "phenomenon".....

Attached Image (click to enlarge)
Click to Enlarge Name: NKD_6JOverlay_Weekly.png Size: 56 KB


The scaling gets rough at best on shorter timeframes so the introduction of other tools or multiple charts laid out becomes crucial but it is tradeable. Enjoy...

Again, WEEKLY charts, so, don't blow up my inbox over betting the farm on this all playing out before breakfast tomorrow...
"Holy Grail" exists - accepting where is the first step.
  • #430,502
  • May 4, 2016 1:20pm May 4, 2016 1:20pm
Quoting Akt
Hello everyone. Speaking of referencing the dollar for trades on the majors, allow me to show an example of how I use it in my analysis. I start with an assessment of the dollar every day and week. I hope this helps best wishes{image}
Nice Akt!!!
"Holy Grail" exists - accepting where is the first step.
  • #430,503
  • May 4, 2016 1:25pm May 4, 2016 1:25pm
Quoting VaBikePacker
Works with the EUR too - and even better sometimes because of the EUR weighting in the USD index. Not the trade weighted or the LTE USD index....those are calculated differently. EUR: 57% JPY: 13% GBP: 11% and...the USD index is, an INDEX. So, the movements of those currencies are what dictates the dollars direction at the end of the day and if you have the EUR and one other (JPY or GBP) in a similar direction/topping/bottoming together, you're going to have a clear view of what's in store for the dollar. Shocks me how many traders don't say anything...
​Thanks for sharing these info and charter! However, it doesn't help; it's after the fact; you cannot plan your positions for the future as you don't know how USD, EUR, GBP and JPY will move. Am I wrong?
Otherwise, could you show an example how you will use it? Thanks
  • #430,504
  • May 4, 2016 1:38pm May 4, 2016 1:38pm
Quoting Fadhl
{quote} ​Thanks for sharing these info and charter! However, it doesn't help; it's after the fact; you cannot plan your positions for the future as you don't know how USD, EUR, GBP and JPY will move. Am I wrong? Otherwise, could you show an example how you will use it? Thanks
Look back at each chart carefully. Pay close attention to the overlays and the primary instruments.

One day a drunk man walked down a concrete walled hallway on the 40th floor. Since the hallway was concrete walled, where did the seemingly random drunk walking guy end up?
"Holy Grail" exists - accepting where is the first step.
  • #430,505
  • May 4, 2016 2:09pm May 4, 2016 2:09pm
Quoting Fadhl
{quote} ​Thanks for sharing these info and charter! However, it doesn't help; it's after the fact; you cannot plan your positions for the future as you don't know how USD, EUR, GBP and JPY will move. Am I wrong? Otherwise, could you show an example how you will use it? Thanks
Hello Fadhl, good to meet you.
If i may please,

I think the point of looking at the dollar is to add to a trader's confidence when taking trades against it, using other currencies. If the analysis for example, is that the dollar is likely to rally, you do not usually want to be shorting it against the other major currencies.

A note of warning please. This inverse correlation between the dollar and other major currencies does not always work. Nothing ever does 100% of the time,

best wishes
Be careful what you think because your thoughts run your life..Solomon
  • #430,506
  • May 4, 2016 2:10pm May 4, 2016 2:10pm
Quoting Akt
{quote}A note of warning please. This inverse correlation between the dollar and other major currencies does not always work. Nothing ever does 100% of the time, best wishes
thus the interest in EUR compared with the dollar here primarily...
"Holy Grail" exists - accepting where is the first step.
  • #430,507
  • May 4, 2016 2:16pm May 4, 2016 2:16pm
Quoting VaBikePacker
{quote} Look back at each chart carefully. Pay close attention to the overlays and the primary instruments. One day a drunk man walked down a concrete walled hallway on the 40th floor. Since the hallway was concrete walled, where did the seemingly random drunk walking guy end up?
39th Floor...
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #430,508
  • May 4, 2016 2:20pm May 4, 2016 2:20pm
Quoting Magix
{quote} 39th Floor...
Uhh...that must be a powerful drunk or you're playing on me not mentioning the concrete floors and ceilings

your move...
"Holy Grail" exists - accepting where is the first step.
  • #430,509
  • May 4, 2016 2:49pm May 4, 2016 2:49pm
Quoting VaBikePacker
{quote} Uhh...that must be a powerful drunk or you're playing on me not mentioning the concrete floors and ceilings your move...
Stairwells in buildings are Concrete especially spanning 40 floors...if you continue walking down said hallway, you will walk down a flight of stairs.

If you start on the 40th floor and walk down 1 flight of stairs, you hit the 39th floor.

The floor and ceiling are still concrete.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #430,510
  • May 4, 2016 3:03pm May 4, 2016 3:03pm
Quoting Magix
{quote} Stairwells in buildings are Concrete especially spanning 40 floors...if you continue walking down said hallway, you will walk down a flight of stairs. If you start on the 40th floor and walk down 1 flight of stairs, you hit the 39th floor. The floor and ceiling are still concrete.
Oh..and the doors are locked at each end...

(yes..yes...making up rules as I go along.....lol)
"Holy Grail" exists - accepting where is the first step.
  • #430,511
  • May 4, 2016 3:10pm May 4, 2016 3:10pm
Quoting VaBikePacker
{quote} Oh..and the doors are locked at each end... (yes..yes...making up rules as I go along.....lol)
A game like this, fits well into the cable thread.

Just make shit up as you go along!
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #430,512
  • May 4, 2016 3:11pm May 4, 2016 3:11pm
Quoting jsk3010
{quote} Oh buddy has he suckered you in, you've got a lot of wising up to do if you think this guy is one of the gooduns. Time will show you!
Lmao
  • #430,513
  • May 4, 2016 3:11pm May 4, 2016 3:11pm
Quoting Magix
{quote} A game like this, fits well into the cable thread. Just make shit up as you go along!
Lol why did you put me on ignore
  • #430,514
  • May 4, 2016 3:16pm May 4, 2016 3:16pm
Quoting Akt
{quote} Hello Fadhl, good to meet you. If i may please, I think the point of looking at the dollar is to add to a trader's confidence when taking trades against it, using other currencies. If the analysis for example, is that the dollar is likely to rally, you do not usually want to be shorting it against the other major currencies. A note of warning please. This inverse correlation between the dollar and other major currencies does not always work. Nothing ever does 100% of the time, best wishes
​Thanks so much Akt! I see your point. But it seems somewhat weird to me. When you have a rally of USD, the other major currencies are in downtrend!
  • #430,515
  • May 4, 2016 4:19pm May 4, 2016 4:19pm
Quoting Magix
{quote} A game like this, fits well into the cable thread. Just make shit up as you go along!
precisely my point
"Holy Grail" exists - accepting where is the first step.
  • #430,516
  • May 4, 2016 4:20pm May 4, 2016 4:20pm
Quoting Fadhl
{quote} ​Thanks so much Akt! I see your point. But it seems somewhat weird to me. When you have a rally of USD, the other major currencies are in downtrend!
You are welcome Fadhl.

I think you answered the question yourself.
When there is a rally in the dollar the other major currencies will usually (not always) fall. That is the inverse relationship, because they are paired with the dollar. One rises and the other falls.

A medium term rally in the dollar was anticipated because of the drop of the dollar into a weekly DZ. With some other major currencies like the euro and the pound rising into supply, it gave the "perfect storm" conditions to short those currencies in the short to medium term time frame.

best wishes
Be careful what you think because your thoughts run your life..Solomon
  • #430,517
  • May 4, 2016 4:21pm May 4, 2016 4:21pm
Quoting Fadhl
{quote} ​Thanks so much Akt! I see your point. But it seems somewhat weird to me. When you have a rally of USD, the other major currencies are in downtrend!
Makes perfect sense actually.
"Holy Grail" exists - accepting where is the first step.
  • #430,518
  • May 4, 2016 8:48pm May 4, 2016 8:48pm
cool liked your post usdx


Quoting Akt
{quote} Hello Bones, I understand your carefulness and reservations about me. My intentions remain what they were when i decided to join this public forum, I will let my posts speak for themselves. They are all in the public domain. best wishes
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 1 -US Dollar Basket (DFB).png Size: 40 KB
Click to Enlarge Name: 1 -close US Dollar Basket (DFB).png Size: 31 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #430,519
  • May 4, 2016 9:05pm May 4, 2016 9:05pm
thats a 200 + range outside candle with an upper wick ,if it went into the wick or past before lower than this pivot ,I would think its super bullish
Attached Image (click to enlarge)
Click to Enlarge Name: 1 gbp USD outside (DFB).png Size: 38 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #430,520
  • May 4, 2016 9:18pm May 4, 2016 9:18pm
I also have a good support on the GBP/USD daily chart, around the 1.4500 level.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd-d1-activtrades-plc.png Size: 21 KB
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