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Cable Update (GBPUSD)

  • #448,621
  • Jan 31, 2017 10:49pm Jan 31, 2017 10:49pm
Quoting manixramz
{quote} Well, it's not about time period, it's all about how price react on that level previously, market open brings volume, it will have breakouts, some fake or short term and some follow trend or reverse trend. In my opinion price level are important, when price suddenly drop or rise, u should atleast have an idea when it will stop if u r going to ride it.
Here is the typical trap move during the London session (the chart below describes a phony uptrend, but the same logic applies to phony downtrends of course)

Study at least 1,000 intra-day charts on 28 currency pairs and you will understand what I mean.

It does not always work that way of course (just to keep us constantly confused...) but that's the general idea.
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  • #448,622
  • Jan 31, 2017 10:54pm Jan 31, 2017 10:54pm
wow, that's 28,000 charts...have fun
Look Sharp/Trade Tight
  • #448,623
  • Jan 31, 2017 10:57pm Jan 31, 2017 10:57pm
Quoting PayTheLimit
wow, that's 28,000 charts...have fun
28 charts a day for 3 years (or much less if you simply print historical charts), what's the big deal really?

The trader must do his/her homework in this crazy trading business, nothing worthwhile is easy, my Chicago friend.
  • #448,624
  • Jan 31, 2017 10:59pm Jan 31, 2017 10:59pm
Quoting Mr Breakout
{quote} 28 charts a day, what's the big deal really? The trader must do his/her homework in this crazy business, nothing worthwhile is easy my Chicago friend.
that's too many pairs man, common....

I'm not Goldman Sacks over here, I have no staff....I'm a one man show...
Look Sharp/Trade Tight
  • #448,625
  • Jan 31, 2017 11:03pm Jan 31, 2017 11:03pm
Hi Mr Breakout,
im analizing the cable with this setup.
I think it's going down today.... What do you think about?
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  • #448,626
  • Jan 31, 2017 11:03pm Jan 31, 2017 11:03pm
rejecting 61% fib from last weeks high - week's low. prob awaiting fed for bullish comment
  • #448,627
  • Jan 31, 2017 11:04pm Jan 31, 2017 11:04pm
Quoting PayTheLimit
{quote} that's too many pairs man, common....
Nonsense, my little niece can do it in less than an hour.
  • #448,628
  • Jan 31, 2017 11:05pm Jan 31, 2017 11:05pm
Quoting Mr Breakout
{quote} Here is the typical trap move during the London session (the chart below describes a phony uptrend, but the same logic applies to phony downtrends of course) Study at least 1,000 intra-day charts on 28 currency pairs and you will understand what I mean. It does not always work that way of course (just to keep us constantly confused...) but that's the general idea. {image}
do you mean sell GBPUSD
onorebate
  • #448,629
  • Jan 31, 2017 11:11pm Jan 31, 2017 11:11pm
Quoting Mr Breakout
{quote} Nonsense, my little niece can do it in less than an hour.
lol, nice...

but really, I'm not charting AUDCHF or something, I mean what the hell is that anyway...there aint no paper in that pair...I'm not gonna lean on a level in a pair with no paper...hell even USDCHF is as thin as can be...I say trade where the paper is...
Look Sharp/Trade Tight
  • #448,630
  • Jan 31, 2017 11:13pm Jan 31, 2017 11:13pm
Quoting putrimawarfx
{quote} do you mean sell GBPUSD
Not at all dear, profiting from the trap pattern I just described requires confirmation, it is not that easy...
  • #448,631
  • Jan 31, 2017 11:19pm Jan 31, 2017 11:19pm
Quoting PayTheLimit
{quote} lol, nice... but really, I'm not charting AUDCHF or something, I mean what the hell is that anyway.
You my friend are seriously limiting yourself, I can see that now.

And what's wrong with AUD-CHF, you can earn good serious American dollars (like actor James Coburn used to say) with this currency pair alone.

Anyway, each trader has his/her own trading style, and I respect yours.
  • #448,632
  • Jan 31, 2017 11:21pm Jan 31, 2017 11:21pm
Quoting Mr Breakout
{quote} Anyway, each trader has his/her own trading style, and I respect yours.
as do I yours....
Look Sharp/Trade Tight
  • #448,633
  • Jan 31, 2017 11:24pm Jan 31, 2017 11:24pm
Quoting Mr Breakout
{quote} You my friend are seriously limiting yourself, I can see that now.
you charting the yen? what do you see in there...I'm looking for a spot to short it
Look Sharp/Trade Tight
  • #448,634
  • Jan 31, 2017 11:24pm Jan 31, 2017 11:24pm
Quoting PayTheLimit
{quote} as do I yours....
Excellent.

Now let's make some money, shall we?
  • #448,635
  • Jan 31, 2017 11:28pm Jan 31, 2017 11:28pm
Quoting PayTheLimit
{quote} you charting the yen? what do you see in there...I'm looking for a spot to short it
Let me take a look...
  • #448,636
  • Jan 31, 2017 11:39pm Jan 31, 2017 11:39pm
Alright, first of all let's look at the 4h chart of the Yen to get the big picture (again I am a day-trader, I don't care about these higher time frames).

First thing we see is a nasty big hammer.

That in itself is very bad news for short sellers, so if I were you I'd seriously reconsider any short selling plan, at least for now.
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  • #448,637
  • Jan 31, 2017 11:44pm Jan 31, 2017 11:44pm
Does #cable have fuel enough to break high of #January ? https://t.co/z26O3o2ct5

Quoting iqyu5an
{quote} Done. Booked. Happy Month End
not euphoria follower
  • #448,638
  • Jan 31, 2017 11:58pm Jan 31, 2017 11:58pm
Quoting Mr Breakout
Alright, first of all let's look at the 4h chart of the Yen to get the big picture (again I am a day-trader, I don't care about these higher time frames). First thing we see is a nasty big hammer. That in itself is very bad news for short sellers, so if I were you I'd seriously reconsider any short selling plan, at least for now. {image}
ok, I see that hammer, and yes we ran than thing under 112.50 yesterday which everyone was watching, so it could be a trap, that remains to be seen...but this week is mostly down thus far...surely there will be a spot to get short, even if its for a while....

I'm considering these two levels...

A is a good looking level, mean looking for sure, but its too close, and stands out too much I think...

B is more of a bastard...it kind of hangs up there by itself over yesterdays high, but its had some play of the last couple of days..which when we take out everyone will be screaming bulls again...but I will sell the hell out of it if I get a chance...that's my play of the day I think...least I find something more sneaky...
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Look Sharp/Trade Tight
  • #448,639
  • Feb 1, 2017 12:12am Feb 1, 2017 12:12am
and one more look at cable....still need to take out 1.26 I say, but then what, where to buy the pullback....

A is a damn fine looking level, sure, near last weeks close, and those peaks from last week...surely it will attract some buyers...

B is prolly a spot that's deep enough for the bears to come out again...and its kind of hidden in that mess from the last few days, but its seen both buyers and sellers...

C is where all everyone wants it to go..the bulls to get longer, the bears to make us look bearish again....

I like B right now...
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Look Sharp/Trade Tight
  • #448,640
  • Feb 1, 2017 12:15am Feb 1, 2017 12:15am
Quoting iqyu5an
Does #cable have fuel enough to break high of #January ? https://t.co/z26O3o2ct5 {quote}
very intact & strong even continues down further without bo , easy 6 months top also likely .This year should be a revolt against usd , gbp is not exceptional /may limit it fall atleast , but no , it can do enough bull , no less than other currencies.Take care , fontu
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Not understand?better not follow my analyses!doubt clearer first, risks ++
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