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Cable Update (GBPUSD)

  • #348,161
  • Oct 4, 2013 4:57am Oct 4, 2013 4:57am
Hint. Fib trading 85.8 short, TP above 61.8
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Even the worst trade can close with profit. Just give it time.
  • #348,162
  • Oct 4, 2013 5:03am Oct 4, 2013 5:03am
Quoting Pumpndump
I'm not believing we get it this easy.

it is not easy..
if weekly can continue and stay around here at least 1.6 should be seen..if UK news cannot continue as good as it been ..the mofo will stay in the flipping range
  • #348,163
  • Oct 4, 2013 5:19am Oct 4, 2013 5:19am
Quoting nAVIN2007
{quote} it is not easy.. if weekly can continue and stay around here at least 1.6 should be seen..if UK news cannot continue as good as it been ..the mofo will stay in the flipping range
I'm glad you've said that sir, I feel more comfortable now knowing other people are sweating. I can go and have a cognac or three. Cheers all. Have a very merry weekend.
  • #348,164
  • Oct 4, 2013 5:25am Oct 4, 2013 5:25am
The monthly critical area at top.o may need correction to test up.
fontu
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #348,165
  • Oct 4, 2013 5:27am Oct 4, 2013 5:27am
This can drop another 1,000 ticks/pips from here. The way it has been acting the last 2-weeks is action indicative of squeezing weak hand shorts. I don't see these type of set-ups happen often, but when they do I go into position building mode and stay away from looking at any charts or P&L. HFT has grown so incredibly intelligent over the years that when I shorted 10% of total allocation (20 lots) last week and it ripped 100 ticks against me almost immediately.. all bots chasing available liq at the same time. Hard target: 1.5075 stop at recent highs.

short cost average: 1.6184$ (80% of total allocation). I have 40 more to short, but will avg down 4 lots every 100 ticks/pips
hard target: 1.5075
stop: recent highs +5 ticks

80 risk, 1109 reward looking for a 275% gain (relative to used margin)
  • #348,166
  • Edited 5:56am Oct 4, 2013 5:30am | Edited 5:56am
Quoting Pumpndump
{quote} I'm glad you've said that sir, I feel more comfortable now knowing other people are sweating. I can go and have a cognac or three. Cheers all. Have a very merry weekend.
I wont say im sweating..but honestly i think i feel a bit to comfortable perhaps i have come too the conclusion the market is simply as tough as we make it..i expect to wait and i expect the market to do everything to make me change my mind..and I think this kind of conditioning makes us tough

anyways, lets see how it all develops..merry weekend to u as well sir

cheers
  • #348,167
  • Oct 4, 2013 5:37am Oct 4, 2013 5:37am
Quoting akhtergroup
This can drop another 1,000 ticks/pips from here. The way it has been acting the last 2-weeks is action indicative of squeezing weak hand shorts. I don't see these type of set-ups happen often, but when they do I go into position building mode and stay away from looking at any charts or P&L. HFT has grown so incredibly intelligent over the years that when I shorted 10% of total allocation (20 lots) last week and it ripped 100 ticks against me almost immediately.. all bots chasing available liq at the same time. Hard target: 1.5075 stop at recent...

i like the idea..except for the position size, lets get lucky
  • #348,168
  • Oct 4, 2013 6:04am Oct 4, 2013 6:04am
Quoting nAVIN2007
{quote} i like the idea..except for the position size, lets get lucky
It's all relative; as long as you can sleep at night with the size you have on, you're fine.
  • #348,169
  • Oct 4, 2013 6:05am Oct 4, 2013 6:05am
Quoting akhtergroup
{quote} It's all relative; as long as you can sleep at night with the size you have on, you're fine.
very true..
  • #348,170
  • Oct 4, 2013 6:28am Oct 4, 2013 6:28am
Quoting akhtergroup
This can drop another 1,000 ticks/pips from here. The way it has been acting the last 2-weeks is action indicative of squeezing weak hand shorts. I don't see these type of set-ups happen often, but when they do I go into position building mode and stay away from looking at any charts or P&L. HFT has grown so incredibly intelligent over the years that when I shorted 10% of total allocation (20 lots) last week and it ripped 100 ticks against me almost immediately.. all bots chasing available liq at the same time. Hard target: 1.5075 stop at recent...
seeing at monthly, i'm not quite sure it will get pass 5500 not to mention 1.5000 area.. maybe price will go to around 57xx after 1.6 - cause of about 50% retracement of the bullish monthly..
  • #348,171
  • Oct 4, 2013 6:28am Oct 4, 2013 6:28am
next level of decent support is at 1.5966. Will close my short from yesterday at that level. Given how hard this is coming off, one wonders how far this can fall.....
  • #348,172
  • Oct 4, 2013 6:30am Oct 4, 2013 6:30am
Expecting a turn back from this mark, there is no big news for this dramatic fall, what I blv that its just a correction, it went up huge and its correction will be a bigger too. Next 2-3 h4 candle will decide it. I am expecting long from next week though nothing is stable in forex :-)
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  • #348,173
  • Oct 4, 2013 6:35am Oct 4, 2013 6:35am
Quoting A-speculator
{quote} seeing at monthly, i'm not quite sure it will get pass 5500 not to mention 1.5000 area.. maybe price will go to around 57xx after 1.6 - cause of about 50% retracement of the bullish monthly..

he is a pattern trader, i dont think candles matter to him
i agree thou..with him
  • #348,174
  • Oct 4, 2013 6:42am Oct 4, 2013 6:42am
Good day,

Closed all my shorts placed last month to bank. Re-opened the 1st small short straight away as I plan another set of shorts. We are still in my sell zone.

All the best
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  • #348,175
  • Oct 4, 2013 6:47am Oct 4, 2013 6:47am
i would love to see 1.5935 area today..but i dunno if its possible
  • #348,176
  • Oct 4, 2013 6:49am Oct 4, 2013 6:49am
I am out of my shorts now also. Will re-enter if we get back to 1.6150 area.
  • #348,177
  • Oct 4, 2013 6:52am Oct 4, 2013 6:52am
Quoting A-speculator
{quote} seeing at monthly, i'm not quite sure it will get pass 5500 not to mention 1.5000 area.. maybe price will go to around 57xx after 1.6 - cause of about 50% retracement of the bullish monthly..
I see a different picture; most likely because my picture isn't a chart. I have different time horizons and objectives. If you knew a system that gave you <5 trades a year, but had a 80% hit rate, with an average runner of 1,000 ticks/pips and avg loss of 190 ticks/pips, would you take the risk? --Opposing perspectives is what keeps the markets moving!
  • #348,178
  • Oct 4, 2013 7:04am Oct 4, 2013 7:04am
small long based on the 1H RSI, long @ 1.6040 SL @ 1.6020 TP @ 1.6060

might close the position earlier if conditions does not apply

this is not my usual trade entries but could not resist the trade as it seems quite straight forward to me
  • #348,179
  • Oct 4, 2013 7:06am Oct 4, 2013 7:06am
Stepped right off of the cliff. May the pips continue to pile up!!!
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  • #348,180
  • Oct 4, 2013 7:10am Oct 4, 2013 7:10am
That is the truth. Uptrend is still active.
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