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- petetong replied Jul 24, 2015
1hr shows the possible barriers to more recovery as I see it...offers reported leading into 5520. best wishes.
Cable Update (GBPUSD)
- petetong replied Jul 24, 2015
great advice and freely given, I hope the trader can learn from it. best wishes.
Cable Update (GBPUSD)
- petetong replied Jul 24, 2015
61.8% of main 5328-5674 just below the present low after another leg down from yesterday's low...just entered the daily part of the former 4hr/daily swing low that goes down to 5449. Daily rising t/line joining that swing lo with 5328 at or around ...
Cable Update (GBPUSD)
- petetong replied Jul 23, 2015
this is what I see on 1hr in respect of possible support becomes resistance and resistance factors on any recovery. Price at the lo is at 148% of it's 20day atr so I wonder how much more south today ?..this said the 20day atr has been falling, as it ...
Cable Update (GBPUSD)
- petetong replied Jul 23, 2015
Nice move down as the 4hr triple top plays out and last peak into that becomes a fractal swing hi on that t/f. 3 fib cluster at the low and below here the daily S2 pivot @ 5494, the weekly s1 pivot @ 5475, the 61.8% of the 5328-5674 move @ 5460 and ...
Cable Update (GBPUSD)
- petetong replied Jul 23, 2015
1hr closes as a bullish hammer type candle alongside that big bearish engulfing on 1hr.......I guess the only 'safe' stop for short positions now are above the swing hi at today's present hi. best wishes
Cable Update (GBPUSD)
- petetong replied Jul 23, 2015
what will this 'generally bullish' market do with this data after the initial knee-jerk drop ?...will it ignore it and go back to it's previous bullishness or range from now ? or turn bearish ? The size of the initial drop suggests that it has put a ...
Cable Update (GBPUSD)
- petetong replied Jul 23, 2015
1hr bearish engulf close of the previous several candles. some weak stops for long positions under 5579 more under 5527 swings. best wishes
Cable Update (GBPUSD)
- petetong replied Jul 23, 2015
potential triple top on 4hr ? maybe - see if a fractal swing forms at today's present daily hi. bids to 5580 reported...5550 too then stronger at 5500 ? best wishes
Cable Update (GBPUSD)
- petetong replied Jul 23, 2015
un-emp up and now bad retail sales - is this putting a dent in carney's rate rise thesis before y/e ? Changes the intraday picture in this moment. best wishes
Cable Update (GBPUSD)
- petetong replied Jul 23, 2015
strong continuation on yesterday's bullish daily candle with uk data due at 0930 uk time. offers littered to 5700...see my previous post re potential resistance factors. Good Uk retail sales data could see a further rise in this pairing ? best wishes
Cable Update (GBPUSD)
- petetong replied Jul 22, 2015
Daily, barring any heavy selling into the close should close healthier for the bulls...that now former 1hr/minor 4hr swing hi zone to today's likely 5646 hi is the 1st real test of their power tomorrow ? this is at the base of the former 4hr/minor ...
Cable Update (GBPUSD)
- petetong replied Jul 22, 2015
£ and € under pressure against $ as £ again attempts to move higher after the pullback from the current daily hi only to find supply as it did near that hi...now given up 50% + of it's current weekly lo-hi . Uk retail sales tomorrow may have a ...
Cable Update (GBPUSD)
- petetong replied Jul 22, 2015
We all have our own experiences of the pair/any trading instrument and mine is that when I go 'with the move' I have a higher success rate and bag more pips than counter move, when the respective trade is successful. best wishes.
Cable Update (GBPUSD)
- petetong replied Jul 22, 2015
Yeh it can be crazy but that's probably what we like about it ? ....I find that on any rangy days like most of yesterday for example it is better to be patient and seek out only hi probability trading opportunities/set-ups and that is a good general ...
Cable Update (GBPUSD)
- petetong replied Jul 22, 2015
more patience required by the bulls awaiting longer targets to the north as price struggles to make anymore progress in that direction after the immediate post data hi of 5647. The known/visible obstacles to the north are shown on daily pic below ...
Cable Update (GBPUSD)
- petetong replied Jul 22, 2015
that falling 4hr/daily trend line and daily R3 tested at hi...offers to 5650 reported then 80 then 5700...above 5674 hi is the former daily swing lo zone tested twice now and acted as resistance that runs up to 5702 which is 61.8% of the 5929-5328 ...
Cable Update (GBPUSD)
- petetong replied Jul 22, 2015
unlikely I know but if there is a surprise in the Boe MPC minutes due out in 15mins or so there will be a reaction ...I was pondering earlier in week in light of carney's comments re a rate hike before y/e whether anyone had actually voted for one, ...
Cable Update (GBPUSD)
- petetong replied Jul 22, 2015
Doji (ish) daily candle yesterday[ $ was strongly bullish] and a big spurt up today so far..4hr rising t/line holds....the rise finding offers in that former 1hr/4hr swing hi zone before finding demand on the pullback in the former 1hr/4hr swing hi ...
Cable Update (GBPUSD)