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Cable Update (GBPUSD)

  • #448,881
  • Feb 2, 2017 5:29pm Feb 2, 2017 5:29pm
Quoting jbmaverick
..the bulls day is coming - I WILL see this stuff over 1.3500 sometime in 2017.
The cable could go to $0.50 or even less, who knows...

Buying stuff just because it's "on sale" is not a sound trading strategy. Things that are "cheap" can get even cheaper.

Now if your trading system tells you to buy the cable at level X with a stop at level Y and a take profit at point Z that's an entirely different story.
  • #448,882
  • Feb 2, 2017 5:50pm Feb 2, 2017 5:50pm
Quoting Mr Breakout
{quote} The cable could go to $0.50 or even less, who knows... Buying stuff just because it's "on sale" is not a sound trading strategy. Things that are "cheap" can get even cheaper. Now if your trading system tells you to buy the cable at level X with a stop at level Y and a take profit at point Z that's an entirely different story.
i think it will go up. I use this chart with macd and psar, ideally in short time cable will go up.








What do you think about this chart.
Psar it's
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  • #448,883
  • Feb 2, 2017 7:54pm Feb 2, 2017 7:54pm
Quoting MrP8
{quote} i think it will go up. I use this chart with macd and psar, ideally in short time cable will go up. What do you think about this chart. Psar it's {image}
Pardon me,

why you use MA 5 and 34 in TF H1 chart ( Iif not wrong)
and MACD 12, 26 and 9?
I need a base analyst.

can you explain.

thanks.
  • #448,884
  • Feb 2, 2017 8:09pm Feb 2, 2017 8:09pm
Quoting Luzbay
I'm thinking of setting up a short limit order at around 1.2559, with a 20 pip SL. Hoping for a ride down to 1.2450, if it catches.
For me I guess it depends on the order it does , If it drops 1st I would look to buy 1.24ish area , if it goes up 1st I would take a look at 1.2625,,,,,yesterdays midpoint and a decent weekly level for me to try a short . For me a lot depends on the usd yen, thats teetering on a big drop which if it does would give the eur a little life ,,,,,,,,,,eurgbp up gbpusd dribbling down due to a little geppy selling and eurgbp buying, atm its below todays open and the weekly pivot,,,,,with a couple good weekly levels and the quarterly pivot at 1.2425ish , bearish for me on the day so far ,,,,,,,,,, probably dont make much sense but hell, look at a few charts to break the boredom up lol, cheers man.
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  • #448,885
  • Feb 2, 2017 8:23pm Feb 2, 2017 8:23pm
OMG help me
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onorebate
  • #448,886
  • Feb 2, 2017 8:58pm Feb 2, 2017 8:58pm
Quoting putrimawarfx
OMG help me {image}
From a strictly religious point of view I don't think God likes our Forex trading activities (or any zero-sum game for that matter), since we are essentially taking money from each other (the smart traders taking money from less informed traders).
(Personally the moral aspect of FX - and Futures - trading has always bothered me a little...)
  • #448,887
  • Feb 2, 2017 8:59pm Feb 2, 2017 8:59pm
#IMHO
Volatility after muted market and before NFP release will help you. Just cleared my old short positions .

rgds, kirakirabegitu

Quoting putrimawarfx
OMG help me {image}
not euphoria follower
  • #448,888
  • Feb 2, 2017 9:49pm Feb 2, 2017 9:49pm
Buy at 1.2452 (if we get there), SL 25 pips below, for a move to 1.2768. I believe we are almost completing wave 1 of a bull market here.

Incidentally, I work for a British firm and our hedge rate for this year is 1.56. Who knows?
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Lost....
  • #448,889
  • Feb 2, 2017 10:03pm Feb 2, 2017 10:03pm
i long in 1.2516

http://prntscr.com/e3uh4k

http://prntscr.com/e3uhv3
  • #448,890
  • Feb 2, 2017 10:20pm Feb 2, 2017 10:20pm
i look signal bulliish

bullish marobozu coming
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  • #448,891
  • Feb 2, 2017 10:28pm Feb 2, 2017 10:28pm
Quoting putrimawarfx
OMG help me {image}
Your 4h trendline GBP/USD chart is the exact equivalent of this 1h chart (see below).
It is not a very convincing trendline because there is too much white space.

However, seeing these very small 1h doji and hammer candles on the right side of the chart (red circle), near the trendline, is a very good sign, that means that the price is respecting the up trendline.

At least for now...
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  • #448,892
  • Feb 2, 2017 10:36pm Feb 2, 2017 10:36pm
Anyone see anything interesting at 2387....
Look Sharp/Trade Tight
  • #448,893
  • Feb 2, 2017 10:41pm Feb 2, 2017 10:41pm
Quoting Mr Breakout
{quote} Your 4h trendline GBP/USD chart is the exact equivalent of this 1h chart (see below). It is not a very convincing trendline because there is too much white space. However, seeing these very small 1h doji and hammer candles on the right side of the chart (red circle), near the trendline, is a very good sign, that means that the price is respecting the up trendline. At least for now... {image}
Or could it be that your trend line is respecting price?
  • #448,894
  • Feb 2, 2017 11:20pm Feb 2, 2017 11:20pm
Quoting PayTheLimit
Anyone see anything interesting at 2387....
Last weeks low at 2369,,,,,,,,, in that area
  • #448,895
  • Edited 11:38pm Feb 2, 2017 11:26pm | Edited 11:38pm
Quoting PayTheLimit
Anyone see anything interesting at 2387....
No, but short-term short sellers (or potential buyers still looking for that magical retrace level) should be aware that an important support line is waiting for them at 1.2420 (see horizontal line).

Again these support/resistance lines are not random lines in the sand, they represent real price levels where important transactions and trading activities took place.
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  • #448,896
  • Feb 2, 2017 11:34pm Feb 2, 2017 11:34pm
Quoting Nala66
{quote} Or could it be that your trend line is respecting price?
Well, draw the same trendline and see for yourself.
  • #448,897
  • Feb 2, 2017 11:49pm Feb 2, 2017 11:49pm
Quoting digger1
{quote} Last weeks low at 2369,,,,,,,,, in that area
indeed, last weeks low, on the daily chart, is an impressive candle, for sure....

the area, just above 2387 has seen some huge plays...wondering if they take those wicks out, and bounce...
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Look Sharp/Trade Tight
  • #448,898
  • Feb 2, 2017 11:57pm Feb 2, 2017 11:57pm
Quoting Mr Breakout
{quote} Again these support/resistance lines are not random lines in the sand, they represent real price levels where important transactions and trading activities took place. {image}

lol, your preaching to the choir...
Look Sharp/Trade Tight
  • #448,899
  • Feb 3, 2017 12:12am Feb 3, 2017 12:12am
It always amaze me when I see some traders constantly switching from the monthly charts to the weekly charts to the daily charts to the 4h charts and to the 1 charts.

No wonder why trading is so confusing for them!

It has been proven that our brain cannot juggle with more than 3 parameters (here time-frames) at the same time.

My own trading experience has shown beyond any doubt that trading must always be simple. That means one or two time frames at most, one or two indicators at most (I don't use any) and very very simple trading rules.

Adding more time frames, indicators, trendlines, support/resistance lines will only add more confusion, keep it very simple folks.

Just my opinion.
  • #448,900
  • Feb 3, 2017 12:19am Feb 3, 2017 12:19am
Quoting Mr Breakout
It always amaze me when I see some traders constantly switching from the monthly charts to the weekly charts to the daily charts to the 4h charts and to the 1 charts. No wonder why trading is so confusing for them! It has been proven that our brain cannot juggle with more than 3 parameters (here time-frames) at the same time. My own trading experience has shown beyond any doubt that trading must always be simple. That means one or two time frames at most, one or two indicators at most (I don't use any) and very very simple trading rules. Adding...

but follow 28 piars...
Look Sharp/Trade Tight
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