Cable Update (GBPUSD) | Page 13220 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

GBP/USD

Similar Threads

Cable Update - Continued 118 replies

Cable Update (GBP/USD) without Idiots 25 replies

cable short for gbpusd? 10 replies

Why is GBPUSD called cable? 76 replies

Cable (GBPUSD) vs Euro (EURUSD) 31 replies

Attachments: Cable Update (GBPUSD)
Exit Attachments

Cable Update (GBPUSD)

  • #264,381
  • Nov 15, 2010 10:24am Nov 15, 2010 10:24am
BLANCHFLOWER: Fed did 'right thing' announcing QE program. Fed exit strategy is 'not very hard.'

BOE KING: Has "great confidence" in Fed, sees some comments on Fed decision as "rather baffling". Criticism of asset purchases is "bizarre"



First, I thought Mr. King is a bit sort of senile but now Blanchflower chiming in gives me reason to believe that we have a USA / UK "special stupidity relationship"....
________________________________ Errare humanum est
  • #264,382
  • Nov 15, 2010 10:28am Nov 15, 2010 10:28am
I enter Long at 1.6087...will be the cable touch 1.6127?

Hopely....
  • #264,383
  • Nov 15, 2010 10:58am Nov 15, 2010 10:58am
Quoting Mr.Elliott
hope that it won't bounce there...lol... coz...i still got my short from 1.6090....
i envy your patience.. lets see..
G/L
All systems of divination, like music itself,work through patterns.
  • #264,384
  • Nov 15, 2010 11:41am Nov 15, 2010 11:41am
Quoting Mr.Elliott
1.6150 is the best level to watch for this week...dun ya think?i think there's not enough pressure on that level...might be a good possibility that we might went back to that level...before the week end?
hi Mr. Elliot.

6150 was last week's WPP and this week's high so far, so is still quite relevent, but the battle line has moved down to 6110 area atm.

So far the Monthly Open is holding nicely as support, but I'm looking for 1600 to be tested.

If we get below 1600, next stop is MPP 5930.

Considering GU touched the weekly descending TL last week, a drop was in order, how deep now is the question. The 4H 200EMA is on the MPP so it's a good target for a bounce under 1600 before continuing up.

...but if the Euro crisis sparks a Dollar rally, it could cut deeper, in which case WS2 5830 area would be next.

The week's still young, let's see how they want to play it. So far, just taking small trades on EU, GY, and GU between SR until we have a proper breakout.
  • #264,385
  • Nov 15, 2010 12:15pm Nov 15, 2010 12:15pm
Watching another 1h compression formation develop.
Last time this pattern produced over 500 pips.
Look to a smaller tf trigger coupled with news.

Dr. D.
Attached Images
  • #264,386
  • Nov 15, 2010 12:23pm Nov 15, 2010 12:23pm
Quoting Fudomyo
hi Mr. Elliot.

6150 was last week's WPP and this week's high so far, so is still quite relevent, but the battle line has moved down to 6110 area atm.

So far the Monthly Open is holding nicely as support, but I'm looking for 1600 to be tested.

If we get below 1600, next stop is MPP 5930.

Considering GU touched the weekly descending TL last week, a drop was in order, how deep now is the question. The 4H 200EMA is on the MPP so it's a good target for a bounce under 1600 before continuing up.

...but if the Euro crisis sparks a Dollar rally,...
My 200ema is at 15953 on the 4hr. Can my IG charts be that far out from MT4? Can someone help out here>or can i take it that i never got the plot in the first place ???
Attached Image (click to enlarge)
Click to Enlarge Name: Spot FX GBP_USD (15-NOV-10).png Size: 16 KB
All systems of divination, like music itself,work through patterns.
  • #264,387
  • Nov 15, 2010 12:24pm Nov 15, 2010 12:24pm
Quoting Fudomyo
hi Mr. Elliot.

The week's still young, let's see how they want to play it. So far, just taking small trades on EU, GY, and GU between SR until we have a proper breakout.
i can see where are you getting at... hope that it tested 1600 before any move north. so were are between weekly and monthly.... let see...if i need new plan for this...anyway thanks for the comment....appreciate it a lot....

psrevious short moved SL to BE....let see whether it still alive tomorrow for asian session....
  • #264,388
  • Nov 15, 2010 12:35pm Nov 15, 2010 12:35pm
I can see you lurking and I know you use IG. Wheres your 200ema on the 4hr please.
All systems of divination, like music itself,work through patterns.
  • #264,389
  • Nov 15, 2010 12:39pm Nov 15, 2010 12:39pm
Quoting kaspopsicle
i envy your patience.. lets see..
G/L
i take a lot of patience pill....for my trading......sometimes a whole bottle last only for a week....
  • #264,390
  • Nov 15, 2010 12:44pm Nov 15, 2010 12:44pm
hi bel...how are you?
Attached Image (click to enlarge)
Click to Enlarge Name: AAA.jpg Size: 40 KB
  • #264,391
  • Nov 15, 2010 12:52pm Nov 15, 2010 12:52pm
Quoting fourxtrader
Watching another 1h compression formation develop.
Last time this pattern produced over 500 pips.
Look to a smaller tf trigger coupled with news.

Dr. D.
Thanks Doc. Sanity re-instated.
All systems of divination, like music itself,work through patterns.
  • #264,392
  • Nov 15, 2010 1:19pm Nov 15, 2010 1:19pm
Quoting Mr.Elliott
hi bel...how are you?
Hey Elliot, Not too shabby ... trading mostly EURUSD - one of the few that's behaving lately ... I miss GBPJPY, but USDJPY has us grounded ... sterling overall esp GBPUSD seems very confused too ... I hate this waiting for other events to occur, to drive the currencies, & then you get a wolf market pop ... Hope things are good for you ... been thinking, we need to have a ceremonial sunsetting of the auslanco forum ...
  • #264,393
  • Nov 15, 2010 1:55pm Nov 15, 2010 1:55pm
Hi, just joined the forum and looking to gain some more knowledge about trading.

Last week I set up a sell stop at 1.6230 for GBPUSD (4hr) on Nov. 5, and I managed to close the trade at 1.6132 couple of days later. Shown with the blue dotted lines.

My reasons for this short trade from my method were that there were 3 inside bars and a inside pin bar off of RN 1.6300. There were also other reasons based on my trade system.

As you can see from my picture, over the course of the week, GBPUSD price levels decreased to below 1.6000 (Nov. 9) before coming back up again to 1.6170 on Nov. 11.

My question is how I should've managed this trade in order to capture more of those pips (approximately 1.6230-1.6 = 230 pips in a week). I'm currently using a ratio take profit system (1:1 or 2:1 risk, etc). I was wondering if anyone else has more success with a trailing stop than a ratio take profit system.

Any suggestions and feedback on this trade would be greatly appreciated.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.jpg Size: 173 KB
  • #264,394
  • Nov 15, 2010 2:52pm Nov 15, 2010 2:52pm
imho..dont be greedy... stick with the plan that gives you a positive result...refine if you want to..but...as everyone here would say:- Plan your Trade .Trade your Plan. Personally.. i'm on an improvement (refining) programme in order to increase my flexibility to market conditions. My weak area is fundamentals but as my comprehension increases then i will go back to increasing my comprehension of technical analysis . Good luck with your trades.
All systems of divination, like music itself,work through patterns.
  • #264,395
  • Nov 15, 2010 3:08pm Nov 15, 2010 3:08pm
Hello. could you shout me the price you have for your 200ema on your 4 hr, please, got the old knicks in a bit if a twist... thanks in advance.
All systems of divination, like music itself,work through patterns.
  • #264,396
  • Nov 15, 2010 3:16pm Nov 15, 2010 3:16pm
For reference mines 1.593

Quoting kaspopsicle
Hello. could you shout me the price you have for your 200ema on your 4 hr, please, got the old knicks in a bit if a twist... thanks in advance.
Enter Signature
  • #264,397
  • Nov 15, 2010 3:19pm Nov 15, 2010 3:19pm
Quoting kaspopsicle
Hello. could you shout me the price you have for your 200ema on your 4 hr, please, got the old knicks in a bit if a twist... thanks in advance.
Ditto on the 5935
  • #264,398
  • Nov 15, 2010 3:49pm Nov 15, 2010 3:49pm
Quoting AllyB
Ditto on the 5935
Thanks and thanks Darren. Mine is @15954...so its only 24 pips out...as i've said all along..dont follow my trades do your own. What i cant understand is that my trades, based on the indys that i use ,work to my satisfaction..Normally they are only a couple of pips away from people i trust and respect. So.. i'm assuming that my 200ema is out of synch.Will be ringing my data feed provider in tha morning.I've got the feed as attached..
Attached Image (click to enlarge)
Click to Enlarge Name: Spot FX GBP_USD (15-NOV-10).png Size: 13 KB
All systems of divination, like music itself,work through patterns.
  • #264,399
  • Nov 15, 2010 3:59pm Nov 15, 2010 3:59pm
Are you using IG's advanced charts?


Quoting kaspopsicle
Thanks and thanks Darren. Mine is @15954...so its only 24 pips out...as i've said all along..dont follow my trades do your own. What i cant understand is that my trades, based on the indys that i use ,work to my satisfaction..Normally they are only a couple of pips away from people i trust and respect. So.. i'm assuming that my 200ema is out of synch.Will be ringing my data feed provider in tha morning.I've got the feed as attached..
Enter Signature
  • #264,400
  • Nov 15, 2010 4:00pm Nov 15, 2010 4:00pm
Quoting darrenware
Are you using IG's advanced charts?
Yup.. i've shown you mine ..thought you are using Mt4
All systems of divination, like music itself,work through patterns.
443 traders viewing now, 2 are registered:
,