Cable 1.4500 or 1.7500

1.4500 or 1.7500

  • 1.4500

    Votes: 30 34.5%

  • 1.7500

    Votes: 44 50.6%

  • Price will never hit either of these levels ever again.

    Votes: 1 1.1%

  • I think the Goodyear grand prix s has made a major contribution to road safety.

    Votes: 7 8.0%

  • There will be a single world currency before either level is hit.

    Votes: 7 8.0%
  • Total voters
    87
counter_violent

counter_violent

Legendary member
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OK had a discussion today about price levels....assuming a cash cable price of 1.6000 at the time of writing which price level will be hit and why.

There is no right or wrong answer btw...it's not a trick question...i'm just interested to see others views and thoughts on how they arrive at their own answer.

Nearly hitting one of the levels will not be good enough...this is not about being right or wrong, and time factors are also irrelevant.

1.6000 is the middle point between the Two so we have a level playing field.
 
Last edited:
counter_violent said:
OK had a discussion today about price levels....assuming a cash cable price of 1.6000 at the time of writing which price level will be hit and why.

There is no right or wrong answer btw...it's not a trick question...i'm just interested to see others views and thoughts on how they arrive at their own answer.

Nearly hitting one of the levels will not be good enough...this is not about being right or wrong, and time factors are also irrelevant.

1.6000 is the middle point between the Two so we have a level playing field.
Click to expand...

Hi, good question or is it?? I dont think they are similar levels to compare, the fact that price is around 1.60 now and is about half way doesnt mean anything.
From where cable is, i am expecting a significant retrace but to 1.45? i dont think it will get that far. but it is just a random number.
Now to ask will it make it back to the levels before huge drop (the 1.9300/400 area) or make a new low?? is a good question. i would say 1.93/94 :)

Anyway this prob makes no sense but i know what im on about (honest)

I voted for 1.75 by the way. :cool:
 
Hi counter violet.....1.7500.....not yet.....1.5400 by next 2 weeks may be next week .....any takers....
This move is not a logical move.....and being trading for so many years.....I could not understand...this move..but lets see..how she holds...I will post my charts if you wish to prove it is not possible....at least in the next 2 months...
 
I don't have an opinion. Price does what it does and I tag along when I see a pattern I recognize.
 
Good question CV - I think we are currently just looking at a much needed rally whilst still staring into the face of a weak (bottomless) pound. For all the political talk, I still can't see why the UK economy is going to be better than the EU and US for the next few years.
 
Well I think'/guess we're heading upwards to 1.75, not that I'd let it affect my trading, but
1. based on fundies
The US can do QE better than we can....The BoE just doesn't have the firepower that the Fed has for printing money. And they need to do more of it than we do.
Based on technicals....
2. 1.75 is just around the 61% fib retrace from the very top and there's also a nice pivot zone around there.

Also I have two MAs on my daily chart, (20 and 365 ema) hangovers from the past which I never even usually look at, but looking at them on the chart now I see the 20 has been a support line on the way up and still is, so maybe there's a consolidation going on prior to the next up shift.
If you belive an EMA can be a support. Not entirely sure that i do, being such a pure PA trader these days. :)
 
Last edited:
Gbp/usd

Recent higher high, lower low and lower close, should put pressure on the downside!
 
I would vote 1.75 but are you really going to rate piddling little uk over the usa in terms of any big move
For any momentum adjustment to 1.75 or above it will come after a fake out I think, so I call 1.45 first but dont dismiss dollar devaluation ability to move the whole playing field

I equate the two factors like snowstorm vs icemelt:idea:
 
I flipped a coin and it came up tails which suggest bottom or downside so 1.45 is my guess. As a confirming indicator I checked my weekly grocery bill and it appeared to be overbought.

I'm betting the farm (if I had one). :)

Peter
 
Cable

counter_violent said:
OK had a discussion today about price levels....assuming a cash cable price of 1.6000 at the time of writing which price level will be hit and why.

There is no right or wrong answer btw...it's not a trick question...i'm just interested to see others views and thoughts on how they arrive at their own answer.

Nearly hitting one of the levels will not be good enough...this is not about being right or wrong, and time factors are also irrelevant.

1.6000 is the middle point between the Two so we have a level playing field.
Click to expand...


Hi

If I had to say I would go with 1.45 but actually think we will not see either for a fairly long time. My belief is we heading down but will meet too much resistance before 1.45 - more like 1.48 (61.8 and previous resistance) before another up leg...

I haven't posted before so go easy on me..

p.s has anyone heard of these guys ??
The Financial Fixed-Odds Profits Course
 
Next move is 1.57-1.55 followed by another attempt at 1.70 which I believe will be breached. Thus 1.75 is next after brief test of support.
 
There will be a one world currency! One world central bank! New World Order, Arghhhh!!

...Oh hold on, there is a knock on the door...
 
...

I just want to say careful it is going to be a volatile day
the market is waiting for the Uk and US releases...
 
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