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Cable Update (GBPUSD)

  • #448,461
  • Edited 12:31pm Jan 30, 2017 12:00pm | Edited 12:31pm
when the steep tl broke it fell
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #448,462
  • Edited 12:36pm Jan 30, 2017 12:08pm | Edited 12:36pm
here should have ajusted
very early on point
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #448,463
  • Jan 30, 2017 12:09pm Jan 30, 2017 12:09pm
Quoting MarianneOslo
{quote} well you did say the chart showed it would go to 1,28
Yes, but the charts are under no legal obligation to do what they are supposed to do, that would be too easy.

That's why the trader should always remain alert and constantly adapt to new market realities, on a daily basis.
  • #448,464
  • Jan 30, 2017 12:57pm Jan 30, 2017 12:57pm
Quoting Bones
here should have ajusted very early on point {image}
Seriously Bones, why do you believe that "perfect" trendlines will allow you to make more money, in the long run?

Drawing perfect textbook trendlines will only accomplish one thing: you will end up leaving tons of pips on the table after the breakout!

Here is an example on the GBP/CHF, as you can see you end up losing at least 200 pips (of unrealized profits) after the breakout, simply because you insisted on drawing nice, cute trendlines.

Anyway.
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  • #448,465
  • Jan 30, 2017 1:03pm Jan 30, 2017 1:03pm
perhaps some decent R at 1.2545ish now...
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Look Sharp/Trade Tight
  • #448,466
  • Jan 30, 2017 1:19pm Jan 30, 2017 1:19pm
Quoting PayTheLimit
perhaps some decent R at 1.2545ish now... {image}
1.2545 is a good resistance level but I don't think the cable will pull that far, that would render the breakout less valid.
  • #448,467
  • Jan 30, 2017 1:20pm Jan 30, 2017 1:20pm
that one you draw is a perfect tl


Quoting Mr Breakout
{quote} Seriously Bones, why do you believe that "perfect" trendlines will allow you to make more money, in the long run? Drawing perfect textbook trendlines will only accomplish one thing: you will end up leaving tons of pips on the table after the breakout! Here is an example on the GBP/CHF, as you can see you end up losing at least 200 pips (of unrealized profits) after the breakout, simply because you insisted on drawing nice, cute trendlines. Anyway. {image}
Attached Image(s) (click to enlarge)
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #448,468
  • Jan 30, 2017 2:04pm Jan 30, 2017 2:04pm
2 week chart says retrace ,but don't buy into that d1
without good reason
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #448,469
  • Jan 30, 2017 2:13pm Jan 30, 2017 2:13pm
On the 1min the cable consolidated inside an ascending channel and then dropped down.
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  • #448,470
  • Jan 30, 2017 2:14pm Jan 30, 2017 2:14pm
Quoting Mr Breakout
{quote} 1.2545 is a good resistance level but I don't think the cable will pull that far, that would render the breakout less valid.
I would rather we break lower first, and take that 1.2417 low out, then back up...that scenario would strengthen than R considerably
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Click to Enlarge Name: GBPUSDH1.png Size: 77 KB
Look Sharp/Trade Tight
  • #448,471
  • Jan 30, 2017 2:19pm Jan 30, 2017 2:19pm
Quoting PayTheLimit
{quote} I would rather we break lower first, and take that 1.2417 low out, then back up...that scenario would strengthen than R considerably {image}
Such a move would render the down breakout even more suspect...
Just my opinion.
  • #448,472
  • Jan 30, 2017 2:21pm Jan 30, 2017 2:21pm
Quoting Bones
when the steep tl broke it fell {image}
2378 i have posted that befor as part off the plan. Carry on with your lines B out
  • #448,473
  • Jan 30, 2017 2:24pm Jan 30, 2017 2:24pm
Quoting Mr Breakout
{quote} Such a move would render the down breakout even more suspect... Just my opinion.
resistance could also develop lower as we move down/if we move down, but that remains to be seen, I still would prefer taking 1.2417 out before considering shorts...
Look Sharp/Trade Tight
  • #448,474
  • Jan 30, 2017 2:25pm Jan 30, 2017 2:25pm
Quoting navk
{quote} closed and trying to bounce and it might.
Hi Nav long time buddy how is the plan going ? Regards B sorry late reply busy day
  • #448,475
  • Jan 30, 2017 2:26pm Jan 30, 2017 2:26pm
hey guys big week brewing , BOJ , FED , BOE , NFP

Pound is gonna roll this week , fasten your seatbelts
  • #448,476
  • Jan 30, 2017 2:28pm Jan 30, 2017 2:28pm
Quoting PayTheLimit
resistance could also develop lower as we move down/if we move down.
That is indeed another possible scenario.
  • #448,477
  • Jan 30, 2017 2:31pm Jan 30, 2017 2:31pm
and what of GJ, pity on 141.60ish not hitting, no use for that level now....nice R near 143.90/95 now me thinks...
Attached Image (click to enlarge)
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Look Sharp/Trade Tight
  • #448,478
  • Jan 30, 2017 2:34pm Jan 30, 2017 2:34pm
Quoting MXT
hey guys big week brewing , BOJ , FED , BOE , NFP Pound is gonna roll this week , fasten your seatbelts
Yep, after these important financial news some traders will be laughing all the way to the bank.

The others will be singing the Blues...

Inserted Video
  • #448,479
  • Jan 30, 2017 2:34pm Jan 30, 2017 2:34pm
2170 the target
  • #448,480
  • Jan 30, 2017 2:37pm Jan 30, 2017 2:37pm
however Pound is still in downtrend , unless a big reversal with a clear break and close above 1.2750 materializes - that would mean a bullish breakout of our trading range

should downtrend be confirmed , recent lows could be tested once again
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