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Cable Update (GBPUSD)

  • #448,101
  • Jan 26, 2017 6:03pm Jan 26, 2017 6:03pm
Quoting Nala66
{quote} Yes I am still long on the GJ just moved my stop to lock in 40 pips, looking for another 40
Good man.

The Yen is really on fire, it made a 175 pip move in less than 24h, with virtually no pullback.

I am waiting for a pullback to 144.50 to buy some more GBP/JPY.
  • #448,102
  • Jan 26, 2017 6:06pm Jan 26, 2017 6:06pm
Moved my stop again to lock in 50
  • #448,103
  • Jan 26, 2017 6:22pm Jan 26, 2017 6:22pm
Stopped out for 50 that equates to 125% profit
  • #448,104
  • Jan 26, 2017 6:40pm Jan 26, 2017 6:40pm
Quoting Nala66
Stopped out for 50 that equates to 125% profit
Well done Double 0 Seven!

Time for a cold one I guess, shaken not stirred.

With the olive, of course
Attached Image
  • #448,105
  • Jan 26, 2017 6:47pm Jan 26, 2017 6:47pm
Quoting Mr Breakout
{quote} Well done Double 0 Seven! Time for a cold one I guess, shaken not stirred. With the olive, of course {image}
We can see here from my multiple charts the yen was a loser this morning... The ones with the black dot. The boxes are all 50 pips high
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 210 KB
  • #448,106
  • Jan 26, 2017 7:01pm Jan 26, 2017 7:01pm
Not related to this thread but keep an eye on the AUD/JPY.... good spread, cheap lots and moving well
  • #448,107
  • Jan 26, 2017 7:14pm Jan 26, 2017 7:14pm
Quoting Nala66
Not related to this thread but keep an eye on the AUD/JPY.... good spread, cheap lots and moving well
Yes the AUD/JPY is behaving very nicely, nice trend and short-lived pullbacks.
However, the intra-day range is usually small on that pair.
  • #448,108
  • Jan 26, 2017 7:32pm Jan 26, 2017 7:32pm
Double price rejection at the 50% Fibonacci level (red horizontal line) for the GBP/AUD (15-min).
Looking to go short at the right time...
Attached Image (click to enlarge)
Click to Enlarge Name: gbp_aud_pr.png Size: 190 KB
  • #448,109
  • Jan 26, 2017 7:52pm Jan 26, 2017 7:52pm
Bought GBP/JPY 144.50, 35 pip stop.
Let's do it again.
  • #448,110
  • Jan 26, 2017 7:58pm Jan 26, 2017 7:58pm
Quoting Mr Breakout
Double price rejection at the 50% Fibonacci level (red horizontal line) for the GBP/AUD (15-min). Looking to go short at the right time... {image}
I chucked out the Fib years ago in favor of the much more accurate Quartile. You can clearly see here how price steps through each Quartile. Same chart as yours.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 64 KB
  • #448,111
  • Jan 26, 2017 8:05pm Jan 26, 2017 8:05pm
Quoting Nala66
{quote} I chucked out the Fib years ago in favor of the much more accurate Quartile. You can clearly see here how price steps through each Quartile. Same chart as yours. {image}
Yes I use them too (25%, 50%, 75%) but the most important Fib is the 50%. At that point sellers and buyers are in equilibrium.

It is a major pivot point because a price rejection at that level has serious bullish or bearish implications, depending on the direction of the intra-day trend.
  • #448,112
  • Jan 26, 2017 8:13pm Jan 26, 2017 8:13pm
GBP/USD going down and not waiting for any pullback.

Tsk tsk tsk, that's not nice Mister Cable.
  • #448,113
  • Edited 9:04pm Jan 26, 2017 8:42pm | Edited 9:04pm
gonna try using these two levels early...
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDH1.png Size: 68 KB
Look Sharp/Trade Tight
  • #448,114
  • Jan 26, 2017 9:05pm Jan 26, 2017 9:05pm
Quoting Mr Breakout
Bought GBP/JPY 144.50, 35 pip stop.
Out at 144.35, 15 pip loss.
Will try to re-enter later.
  • #448,115
  • Jan 26, 2017 9:08pm Jan 26, 2017 9:08pm
one spot that looks sneaky in GJ....if we ever pullback...
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYH1.png Size: 50 KB
Look Sharp/Trade Tight
  • #448,116
  • Jan 26, 2017 9:14pm Jan 26, 2017 9:14pm
Quoting PayTheLimit
one spot that looks sneaky in GJ....if we ever pullback... {image}
You are using the 1h time frame/charts if I understand correctly.
I never touch them, they are almost worthless for day trading.
  • #448,117
  • Jan 26, 2017 9:18pm Jan 26, 2017 9:18pm
Quoting Mr Breakout
{quote} Yes I use them too (25%, 50%, 75%) but the most important Fib is the 50%.
None of these are Fib numbers that is why I dumped the Fib scale
  • #448,118
  • Jan 26, 2017 9:19pm Jan 26, 2017 9:19pm
Inserted Video
  • #448,119
  • Jan 26, 2017 9:21pm Jan 26, 2017 9:21pm
Quoting Nala66
{quote} None of these are Fib numbers that is why I dumped the Fib scale
You divided the range by 4 to get those 4 red lines, no?
  • #448,120
  • Jan 26, 2017 9:22pm Jan 26, 2017 9:22pm
Quoting Mr Breakout
{quote} You are using the 1h time frame/charts if I understand correctly. I never touch them, they are almost worthless for day trading.
easily the most important TF in FX...

how do you figure anyway?
Look Sharp/Trade Tight
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