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Cable Update (GBPUSD)

  • #446,141
  • Dec 2, 2016 8:16am Dec 2, 2016 8:16am
deary me don't fight it
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  • #446,142
  • Dec 2, 2016 8:23am Dec 2, 2016 8:23am
I have a small trade on at 264 but I don't feel at all confident stops at BE
  • #446,143
  • Dec 2, 2016 8:39am Dec 2, 2016 8:39am
Quoting _BBKing_
I wonder if market will be sensible to this NFP. Yes there could be some moves up/down but speaking about cable lately was not really affected that much by $
indeed...
1 hour after the release and price ("only") 40 pips higher with not that really goodlooking setup
90% of traders use TA, indicators and prediction
  • #446,144
  • Dec 2, 2016 8:41am Dec 2, 2016 8:41am
Quoting Bones
are you sure fontu never heard of a camel pattern for ref I found an icon I say $ bearish {quote}
should be something like this.
don't know btw which side should be drawn
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90% of traders use TA, indicators and prediction
  • #446,145
  • Dec 2, 2016 8:53am Dec 2, 2016 8:53am
price stuck. maybe too strong R level, and is going to breathe at 1,2530/20
  • #446,146
  • Dec 2, 2016 8:59am Dec 2, 2016 8:59am
I also expected more movement after NFP data. Only 40 pips was tasteless... same E/U only 45 pips. Maybe the party not yet started
  • #446,147
  • Dec 2, 2016 9:01am Dec 2, 2016 9:01am
slightly delayed action ,could be ,usdlfx =
bottom up bearish h4 ,d1 ,w1
bullish monthly at extreme

Quoting _BBKing_
{quote} indeed... 1 hour after the release and price ("only") 40 pips higher with not that really goodlooking setup
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #446,148
  • Dec 2, 2016 9:03am Dec 2, 2016 9:03am
Quoting Monokl
it is going to break ichimoku cloud. future cloud showing changing trend. {image}
Ichimoku! - One of my favorite indicators. I'm all for breaking through the cloud.
Writer, currency trader, madman
  • #446,149
  • Dec 2, 2016 9:05am Dec 2, 2016 9:05am
let me find one of my 13 thousand posts ,I know I must have a good one



Quoting Bones
the story is pull back maybe ,then if we think break up ? but gbp just sold off , that closed doji cross ,traders obviously took this is over done cross I know as reliable more than even any other doji my own rules mean I couldn't take that or change anything it may not confirm , d1-w1 trumps h4 but then bearish close this h4 id be worried maybe that just hit target still I have my mind that bit higher ,id be more happy to sell Cross vs Rather nice break up {quote} {image}
Quoting Bones
lets see ,I'm guessing if it holds up gbp wont be the driver {image}
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  • #446,150
  • Dec 2, 2016 9:41am Dec 2, 2016 9:41am
Just a question. Why if FED will probably move forward with a rate hike, E/U is moving according to this probability, and still GBP is full of power moving north to post brexit levels? I always understand that the market is moving to right levels before than important news. So surely I'm wrong giving too much importance to Fed decision, or there is something else that escapes me.
  • #446,151
  • Dec 2, 2016 9:59am Dec 2, 2016 9:59am
Quoting pipsandbits
Just a question. Why if FED will probably move forward with a rate hike, E/U is moving according to this probability, and still GBP is full of power moving north to post brexit levels? I always understand that the market is moving to right levels before than important news. So surely I'm wrong giving too much importance to Fed decision, or there is something else that escapes me.
Two possible explanations:
1) The Fed's rate hike is already pretty much priced into the market, since everyone's been expecting a December rate hike all year long.
2) Although a US rate hike might have a negative effect on Gbp/Usd, it's not a strong enough effect to justify Gbp/Usd being at such a low level as it's been recently. This makes sense if you think that the reaction to Brexit was overdone, leaving Gbp/Usd substantially oversold. To illustrate this idea, take the Brexit event away and see Gbp/Usd around 1.4300, where it was trading just before Brexit. Then factor in a US rate hike from that price level and it looks much more reasonable for Gbp/Usd to still be higher than where it is now, even with a rate hike.
Writer, currency trader, madman
  • #446,152
  • Dec 2, 2016 10:05am Dec 2, 2016 10:05am
Random observation: Since Gbp/Usd has now cleared the 50 MA on the daily chart, next logical target is the 100 MA, which I see around 1.2835.
Writer, currency trader, madman
  • #446,153
  • Dec 2, 2016 10:21am Dec 2, 2016 10:21am
I can tell you it has a lot to do with rhyming slang
here
news rhymes with confuse
tech rhymes with correct
also
bones rhymes with best cause he spent his first 7 years posting charts and picking up information from people far better



Quoting pipsandbits
Just a question. Why if FED will probably move forward with a rate hike, E/U is moving according to this probability, and still GBP is full of power moving north to post brexit levels? I always understand that the market is moving to right levels before than important news. So surely I'm wrong giving too much importance to Fed decision, or there is something else that escapes me.
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #446,154
  • Dec 2, 2016 10:39am Dec 2, 2016 10:39am
plenty sweating on that high I guess
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  • #446,155
  • Dec 2, 2016 10:40am Dec 2, 2016 10:40am
it wont hold ,bears kick in higher worth the wait I suppose
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  • #446,156
  • Dec 2, 2016 10:43am Dec 2, 2016 10:43am
Quoting Bones
are you sure fontu never heard of a camel pattern for ref I found an icon I say $ bearish {quote}
not using long time this strong bullish pattern, at the end of the extended mouth should break or the ground. anyway here it can test the monthly high level of 1.2945( insider candle weekly high ) ! if so , can easily test 1.3057,1.3444,1.3532 to limit up for next down leg 1.3835!! so next target may be 1.2757 or /94.lets see .
GJ breaks up sharp , gold can be next leg up for 1241 , eurgbp further to down towards 0.77/0.72 , though they not that great & they not on great bottom/ support , still can play up for considerable time before next crush .fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #446,157
  • Dec 2, 2016 10:50am Dec 2, 2016 10:50am
Fontu: " if so , can easily test 1.3057,1.3444,1.3532 to limit up for next down leg 1.3835!! so next target may be 1.2757 or /94 "

It's really perfectly all right with me if we just skip over all that other stuff and go straight to 1.3835
Writer, currency trader, madman
  • #446,158
  • Dec 2, 2016 10:52am Dec 2, 2016 10:52am
cool fontu there you go
Im struggling past first target

Quoting fontu
{quote} not using long time this strong bullish pattern, at the end of the extended mouth should break or the ground. anyway here it can test the monthly high level of 1.2945( insider candle weekly high ) ! if so , can easily test 1.3057,1.3444,1.3532 to limit up for next down leg 1.3835!! so next target may be 1.2757 or /94.lets see . GJ breaks up sharp , gold can be next leg up for 1241 , eurgbp further to down towards 0.77/0.72 , though they not that great & they not on great bottom/ support , still can play up for considerable time before next...
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  • #446,159
  • Dec 2, 2016 10:55am Dec 2, 2016 10:55am
this is already a break ,buyer been there then dragged it down
ugly move
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  • #446,160
  • Edited 12:16pm Dec 2, 2016 12:01pm | Edited 12:16pm
Its a case of using your imagination I'm afraid BB , do you like sci fi ?
I offered my software but its not had enough versions ,just changed it then to catch up seems slightly off




Quoting _BBKing_
{quote} very nice result in that strategy! did you share the logic concept anywhere or is it private?
Quoting Bones
I mean my 'bonesometer' says hang on something could happen ,now I'm worried {image}
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