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Cable Update (GBPUSD)

  • #443,201
  • Oct 7, 2016 3:42pm Oct 7, 2016 3:42pm
Quoting cspip
{quote} For a long time I knew it'd go down to 1.2050......
The Cruel reality is that is was probably needed - a new firm physical low there before you - seen and not referenced as a 35 year low in history. Or a reference too we are now in un charted waters .. Harsh yes, but thats life personally i think it was planned the upper elite in the system new about it and if you look at the end of the day where is it now 124 200.
Its great to blame algos, and fat fingers freddy but untill proven otherwise i am sticking with it was set up and known to a few. Prove me wrong but hey look we got a low that we can see is real and can be worked towards as it will come February next year if the UK do what they say they will with the article 50. End of the day its all smoke and mirrors this time a few people were had - taken down - hey thats life - get over it move on or come back in again.

Oh and whoever they might be they knew well the answer to the meaning - and so what you going to do about it .. exactly nothing.
  • #443,202
  • Oct 7, 2016 5:18pm Oct 7, 2016 5:18pm
Quoting KeenPips
{quote} Another Martingale hybrid? A recipe for blowing accounts. Trade safe. KP
Not a martingale hybrid at all. I'm talking about only taking a secondary trade that gets you into profit as you BE on the first and it is not for someone without experience. If you read the article he has been more successful with this strategy than any other but also not knowing his trading history (because I only read about him yesterday) he is probably a trader with 30 years experience...

Example using current prices: You buy at 1.2405 and it immediately heads south to 1.2370 . You bought at 2405 because previously it has bounced of 2400 several times and with other analysis you expect it t rise but it heads south although being a 'Risk On Day' so your not concerned as you know overall it will head north.
Price starts to move up of 2370 so you buy within 2375-80 and your in profit by the time it hits 2405....I'm not talking about taking chances here or believing in a strategy like Martingale which I have never tried. and it does require vigilance.

I'm not encouraging anyone to try this especially if your new to the game but just making the point that this is the first time I have read of anyone using a strategy that I have used quite a bit and have been successful doing it....
Don't Leave Money on the Table
  • #443,203
  • Oct 7, 2016 5:25pm Oct 7, 2016 5:25pm
Quoting dean1star
{quote} The Cruel reality is that is was probably needed - a new firm physical low there before you - seen and not referenced as a 35 year low in history. Or a reference too we are now in un charted waters .. Harsh yes, but thats life personally i think it was planned the upper elite in the system new about it and if you look at the end of the day where is it now 124 200. Its great to blame algos, and fat fingers freddy but untill proven otherwise i am sticking with it was set up and known to a few. Prove me wrong but hey look we got a low that...

I love the term 'Fat Finger' if I was in charge of multi billion dollar accounts the world would be experiencing Fat Fingers all the time because my hands have become a bit beat up due to the Carpentry work and forever hitting the wrong key....

Carpenter comes from Carpentarious which is Latin for 'Man with sore Thumb'......LOL
Don't Leave Money on the Table
  • #443,204
  • Edited 7:04pm Oct 7, 2016 6:24pm | Edited 7:04pm
choose your weapons gentlemen

I think the reds have it
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Come with me if you want to live....
  • #443,205
  • Oct 7, 2016 8:03pm Oct 7, 2016 8:03pm
Quoting Bones
its a super long wick at the bottom of huge range ,ridiculous move in reality should never happened anyone who said I see the move talking rubbish show me a d1 from the past that looks like that cable chart {quote}
I will start off by saying not knocking bones or finding fault or Im right everyone else is wrong or anything of that nature , not my thing lol,,,,,, well advised to pay attention to bones,,,,,,,, Believe it or not,,, similar move back on May 7th 2010, only 400 pips tho compared too today's huge range ,,,,,,,,,, same set-up also,,,,,,, failure at the quarterly open (blue boxes ) then subsequent failures at a 10 day moving average (blue circles). As far as seeing it play out , do ya ever till the trades stopped or target hit . Downside tgts were the 272 and 618 extensions of the range from 1.2780 ish to 1.3440 ish , it went well beyond that, ,,,,,,,,,,,, the one from may 2010 also reached those targets altho no where near the overshoot (2nd set of charts),,,,,,,( more liquidity and less algo back then ,, my opinion, lol) , if it had retested the open then went up-- the 272 and 618 topside were tgts my original long tgts till the failure at the open. Ill say it for you bones ,,, dont count cause the pip count is-int close lol, I enjoy and have learned from your inputs......... Great weekend to all
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  • #443,206
  • Oct 7, 2016 8:46pm Oct 7, 2016 8:46pm
Quoting HaLBot
{quote} Not a martingale hybrid at all. I'm talking about only taking a secondary trade that gets you into profit as you BE on the first and it is not for someone without experience. If you read the article he has been more successful with this strategy than any other but also not knowing his trading history (because I only read about him yesterday) he is probably a trader with 30 years experience... Example using current prices: You buy at 1.2405 and it immediately heads south to 1.2370 . You bought at 2405 because previously it has bounced of...


I've rescued a number of trades this way.. hate to get into a DD, but when it happens, this method has been similar to how i turned losers into winners,
because I still believed in the original trade validation.
The risk with the extended moves has to be carefully managed, as markets can go a long time in a direction against positions. So this is great, but
eventually the move has to change direction and when is the issue. I watch PA at levels, and base on bounce or breach may or may not add to it there..
  • #443,207
  • Edited 4:40am Oct 8, 2016 2:27am | Edited 4:40am
lets just say this
its the only such candle ,the longest wick ever on the chart ,and it happened over night without any known reason so far other than sentiment
only thing is look back non form candles ,
long wick biggest I can find is 600 odd

normally id say no way is this thing being manipulated enough to bother anyone ,just I've never seen such a thing who can move market like that other than a government

you are right back of my mind I'm thinking thats the Q open too only can look to open see what next but to go take the low now things are really really bad
could b ,another consolidation zone lower than w1 open or reversal in coming weeks

the main point is bears couldn't hold it down to the tune of 1227 pips




Quoting digger1
{quote} I will start off by saying not knocking bones or finding fault or Im right everyone else is wrong or anything of that nature , not my thing lol,,,,,, well advised to pay attention to bones,,,,,,,, Believe it or not,,, similar move back on May 7th 2010, only 400 pips tho compared too today's huge range ,,,,,,,,,, same set-up also,,,,,,, failure at the quarterly open (blue boxes ) then subsequent failures at a 10 day moving average (blue circles). As far as seeing it play out , do ya ever till the trades stopped or target hit . Downside tgts...
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Click to Enlarge Name: 1 gbp USD use (DFB).png Size: 37 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #443,208
  • Oct 8, 2016 2:49am Oct 8, 2016 2:49am
What happened with the British Pound Friday night is was a normal reaction.

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Mabe you would want take a look on GBP/NZD too :

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Money moves the market, not an indicator.
  • #443,209
  • Oct 8, 2016 2:52am Oct 8, 2016 2:52am
usd wont be around to take us back to the low all things considered ,so its all on GBP
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #443,210
  • Edited 5:18am Oct 8, 2016 3:09am | Edited 5:18am
if its normal you can bring another D1 that looks like it on cable I mean 1 other in all its history
id need to see the unknown driver to believe that



Quoting andoseg2
What happened with the British Pound Friday night is was a normal reaction. {image} Mabe you would want take a look on GBP/NZD too : {image}
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #443,211
  • Oct 8, 2016 3:15am Oct 8, 2016 3:15am
Quoting Bones
if its normal you can bring another D1 that looks like it on cable I mean 1 other in its history {quote} {image}

I dont understand what you mean. Are you referring to a similar pattern which repeated in the past?
Money moves the market, not an indicator.
  • #443,212
  • Oct 8, 2016 3:28am Oct 8, 2016 3:28am
Quoting Bones
if its normal you can bring another D1 that looks like it on cable I mean 1 other in its history {quote} {image}
Now I've read your comment just above my post. It's irrelevant for me about the lenght of a specific candle. My expectations were for a drop and were fullfiled. Government, banks , there's no importance who bring the price up or down. This is a job for moderators on economic talk-shows. In my opinion as traders things are more simple : trade what you see not what you think.
Green trades !
Money moves the market, not an indicator.
  • #443,213
  • Edited 4:24am Oct 8, 2016 3:41am | Edited 4:24am
the wick is telling you thats the low ,so yea I think its important yes I can find reason why it went where it did higher TF as by previous posts
focus should be on the rejection somethings gotta to happen to reverse this I could see in next BOE or budget that could be driver as warned by MAY
Carneys needs the government to carry out QE
only going forward can we see ill be right based on what happened in the past such rejection
seems to me great rush to hit higher tf targets

http://www.thisismoney.co.uk/money/c...ts-savers.html

The truth is that QE is a grey area for policymakers. The Bank can only print money (buy bonds) with the permission of the Treasury. It was granted a licence to restart the process by George Osborne in his short lame-duck period pre-May.







Quoting andoseg2
{quote} Now I've read your comment just above my post. It's irrelevant for me about the lenght of a specific candle. My expectations were for a drop and were fullfiled. Government, banks , there's no importance who bring the price up or down. This is a job for moderators on economic talk-shows. In my opinion as traders things are more simple : trade what you see not what you think. Green trades !
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #443,214
  • Edited 4:27am Oct 8, 2016 3:49am | Edited 4:27am
I can only go on what I seen ,that I know to be true after such an event ,it wasn't tech a pin bar I was told


http://www.forexfactory.com/showthre...15#post8462915
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #443,215
  • Oct 8, 2016 5:14am Oct 8, 2016 5:14am
Quoting Ill-b-back
choose your weapons gentlemen I think the reds have it {image}
Does that daily candle signify a bullish pin par hammer...?!!!!
  • #443,216
  • Oct 8, 2016 5:23am Oct 8, 2016 5:23am
[quote=HaLBot;9186490]{quote} if I was in charge of multi billion dollar accounts the world would be experiencing Fat Fingers all the time

Master the art of forex and sure you will be Hal in the future.
  • #443,217
  • Oct 8, 2016 5:28am Oct 8, 2016 5:28am
Quoting ahmedfouad77
{quote} Does that daily candle signify a bullish pin par hammer...?!!!!
I think to be a bullish pin or hammer it would need to close green but not sure.
This thing flash crashed something like 1000 pips in 1 minute. In my book that makes it far more extraordinary than even the vote candle.
Thus the long wick does not surprise me. Personally I think it will go lower after retesting the breakout pattern above but only time will tell.
Come with me if you want to live....
  • #443,218
  • Oct 8, 2016 5:37am Oct 8, 2016 5:37am
Quoting ahmedfouad77
{quote} Does that daily candle signify a bullish pin par hammer...?!!!!
Also, being a monthly candle it is far from closed so its' current structure at the moment may not be indicative of future direction in November.
Come with me if you want to live....
  • #443,219
  • Oct 8, 2016 6:25am Oct 8, 2016 6:25am
The price will probably start quickly retracing back to the 1.2000 level as the sentiment is now massively bearish with many more sell orders being added. After it hits the 1.2000 level i think it will slowly stagger it's way back up 1.2600 & wait for the election results...but who knows ???
  • #443,220
  • Oct 8, 2016 6:25am Oct 8, 2016 6:25am
Quoting yanitsa
{quote} Pound pairs are the easiest tools among all in any market . You just need to get the trend right and stay disciplined . Whatever happened last night has happened last year to swissy .......yen several times ...... ...and it will happen again in teh future
The Swiss Franc drama had a known reason, the problem here with what happened on Thursday night with the GBP is that we don't actually know why it happened.
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