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Cable Update (GBPUSD)

  • #449,621
  • Feb 14, 2017 4:38pm Feb 14, 2017 4:38pm
Quoting elbert3
Tl set up on 1 hour makes a triangle shape have to watch false breakout to the high ??? Fail then take out 2470 area to 2388 area
Are we seeing the above ??
  • #449,622
  • Feb 14, 2017 4:46pm Feb 14, 2017 4:46pm
Quoting elbert3
{quote} It will go down to the bottom tl then buy it hard
Nah, you might as well try and catch a falling chainsaw.
  • #449,623
  • Feb 14, 2017 4:47pm Feb 14, 2017 4:47pm
bearish outside day is it?

and we are down 20 pips on the week as of this hour...but its early still
Look Sharp/Trade Tight
  • #449,624
  • Feb 14, 2017 4:51pm Feb 14, 2017 4:51pm
Quoting PayTheLimit
bearish outside day is it?
Well, what are you going to do about it?
  • #449,625
  • Feb 14, 2017 4:58pm Feb 14, 2017 4:58pm
Quoting Mr Breakout
{quote} Well, what are you going to do about it?
absolutely nothing...let sleeping dogs lie..
Look Sharp/Trade Tight
  • #449,626
  • Feb 14, 2017 5:00pm Feb 14, 2017 5:00pm
Australian Consumer Confidence Index in 30 minutes (6:30 PM EST), let's see what the GBP/AUD is up to...
  • #449,627
  • Edited 6:20pm Feb 14, 2017 5:32pm | Edited 6:20pm
Quoting Mr Breakout
Australian Consumer Confidence Index in 30 minutes (6:30 PM EST), let's see what the GBP/AUD is up to...
Quite frankly I have no clue what the GBP/AUD is up to. It made a 150 pip down move this morning, then completely reversed the trend and broke through the high of the day, then completely reversed its course again and almost touched the 76% fib!

In other words the GBP/AUD is basically saying, at least to us day-traders "Don't mess with me, not today, I am warning you!"
  • #449,628
  • Feb 14, 2017 5:38pm Feb 14, 2017 5:38pm
Quoting PayTheLimit
{quote} absolutely nothing...let sleeping dogs lie..
No position is also a position, nothing wrong with being flat.
  • #449,629
  • Feb 14, 2017 7:27pm Feb 14, 2017 7:27pm
Here what I see in GA

Drop but rejected by Lower last Week, up but rejected by weekly pivot

next, GA support up only by MA 48 and MA 16

Big trend is down.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPAUDM30.png Size: 94 KB


CMIIW

before sleep

Inserted Video
  • #449,630
  • Feb 14, 2017 7:44pm Feb 14, 2017 7:44pm
Quoting bithedz
CMIIW before sleep https://www.youtube.com/watch?v=VXPor8AsY48 {image}
You wouldn't have her phone number by any chance ?

Just kidding
  • #449,631
  • Feb 14, 2017 7:56pm Feb 14, 2017 7:56pm
Quoting Mr Breakout
{quote} You wouldn't have her phone number by any chance ? Just kidding
err, call her using Subconscious

Btw nice setup for GA.
  • #449,632
  • Feb 14, 2017 8:09pm Feb 14, 2017 8:09pm
Under pressure due to CPI data comes less than expected, 2nd Yellens Hawkish tone. The pair is consolidating on the downside and is trading below its declining 50-period moving average, which plays a resistance role and maintains the bearish momentum. The key resistance level at 1.2495 limiting upside move. As long as this key level is holding on the upside, a further drop to 1.2445 is likely ( yesterday's low which has been tried last hour).A break below 2445 would bring further weaknes to 1.2420 even 2370 and ( 2300 Elbert3 qoute) Alternatively, above 1.2495, look for a further rebound to 1.2515 and 1.2550 (Feb 14 top).
  • #449,633
  • Feb 14, 2017 10:18pm Feb 14, 2017 10:18pm
Quoting Mr Breakout
{quote} As expected this not so convincing triangle of yours produced a false breakout to the upside (see chart). Never trust "breakouts" that occur at the extreme end of a triangle. In fact some traders just fade them... {image}
Thanks Mr B
Come with me if you want to live....
  • #449,634
  • Edited 10:44pm Feb 14, 2017 10:25pm | Edited 10:44pm
Quoting Ill-b-back
{quote} Thanks Mr B
You are quite welcome.

No go and get them tiger...
  • #449,635
  • Feb 14, 2017 10:26pm Feb 14, 2017 10:26pm
area of supporting interest around the next TL I guess
Looking at that Bearish 4hr bar, should be an easy 70 pips or more
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GBPUSDH4.png Size: 32 KB
Click to Enlarge Name: GBPUSDDaily.png Size: 26 KB
Come with me if you want to live....
  • #449,636
  • Feb 14, 2017 10:37pm Feb 14, 2017 10:37pm
Quoting Mr Breakout
{quote} No go and them tiger...
?
Come with me if you want to live....
  • #449,637
  • Feb 14, 2017 10:44pm Feb 14, 2017 10:44pm
Quoting Ill-b-back
{quote} ?
Go and get them tiger, sorry for the typo.
Basically it means good luck.
  • #449,638
  • Feb 14, 2017 10:49pm Feb 14, 2017 10:49pm
lol, Mr B is drunk again...good
Look Sharp/Trade Tight
  • #449,639
  • Feb 14, 2017 11:01pm Feb 14, 2017 11:01pm
Quoting PayTheLimit
lol, Mr B is drunk again...good
Oh no my friend, trading while intoxicated is a very, VERY bad idea.

Sure, a nice cold one does not hurt from time to time, but ONLY when my position is closed and the money is in the bank.
  • #449,640
  • Feb 14, 2017 11:14pm Feb 14, 2017 11:14pm
Quoting Mr Breakout
{quote} Oh no my friend, trading while intoxicated is a very, VERY bad idea. Sure, a nice cold one does not hurt from time to time, but ONLY when my position is closed and the money is in the bank.


posting on FF while intoxicated is permissible though...right?
Look Sharp/Trade Tight
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