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Cable Update (GBPUSD)

  • #288,521
  • Sep 14, 2011 1:20am Sep 14, 2011 1:20am
Welcome to the new era Mr.Long
Whatever your position is even it turn north or whatever once technically you see the direction is not move as your desire then cut your loses immediately!You still have chance for long but maybe not for now
If there was easy money lying around,no one would be forcing it into your
  • #288,522
  • Sep 14, 2011 1:24am Sep 14, 2011 1:24am
Quoting _BBKing_
no matter the reason why it goes down. i never found in my life a reason of a move. market will kill you if you trade with a reason!!!
This downmove came as a no surprise at all. There was never going to be a 600-800 pips jump back up without any confirmation, the HTF last week printed a black marubozu, which indicates sellers are in full control & that continuation is always a likelihood. Our job, was to pick the best possible trade level to short from.

Quoting wormboy
based on long term, please have a look at last week's candle. That was a black marubozu, odds are, cable is likely to push lower.
Nearest support now lies at 5640. And like you said, apart from scalping, buying is very risky & only a weekly reversal pattern will make me change my bearish view.

Good luck to you.
Attached Image (click to enlarge)
Click to Enlarge Name: guw.gif Size: 14 KB
Thank You
  • #288,523
  • Sep 14, 2011 1:24am Sep 14, 2011 1:24am
m1 action
also here no buy setup for the moment.

while writing is loosing 5730
pfffffffffff
Attached Image (click to enlarge)
Click to Enlarge Name: gu.jpg Size: 92 KB
90% of traders use TA, indicators and prediction
  • #288,524
  • Sep 14, 2011 1:26am Sep 14, 2011 1:26am
Quoting wormboy
So where's that chump with the cereal bowl & breaking over 1.59 yesterday?
Not so precise now are ya?

The next time any of these clowns come up with their long term prediction without any proper analysis except the usual useless blabber, you lot be sure to put them to the test. We are traders, not fortune tellers.


btw, I fully expect this fella to disappear for a few months until maybe when price reaches his 1.73, 1.8 or 2.1 targets & go "told ya" with no mention...

morning

not in the mood to reply to such rude words but here you go in case you missread it the first time ''but who knows in this market
I need 1.5890 by 5 pm or else I will change the view'

and as I mentioned in the previous posts mate you really have to go back in time and look at my charts and detailed explanation.just see how precise were the calculations on my calls and just look who and maybe ask yourself why they vouched for me ?

but I get it I get it ignorance is blessing

way to go there bro
p.s. yesterday I made over 400 pips on M1 and M5 how many did you make ?
  • #288,525
  • Sep 14, 2011 1:26am Sep 14, 2011 1:26am
Quoting wormboy
This downmove came as a no surprise at all. There was never going to be a 600-800 pips jump back up without any confirmation, the HTF last week printed a black marubozu, which indicates sellers are in full control & that continuation is always a likelihood. Our job, was to pick the best possible trade level to short from.



Nearest support now lies at 5640. And like you said, apart from scalping, buying is very risky & only a weekly reversal pattern will make me change my bearish view.

Good luck to you.
thank you to be here!
by talking about reason i mean a fundamental reason, as i noticed people asking why the reason of GU down , us up etc....
90% of traders use TA, indicators and prediction
  • #288,526
  • Sep 14, 2011 1:29am Sep 14, 2011 1:29am
Quoting wormboy


Okay, I placed a single lot short on cable (sold @5813) due to the rejection off the daily open & placed an emergency stop @5970.
I will look to add to my existing position once price close below the previous day low. If however price close above the previous day high, I might have to get out of the trade.

Have a good one.
The emergency stop now is bep +3 @5810.
Free trade from here on.

Good luck.
Thank You
  • #288,527
  • Sep 14, 2011 1:31am Sep 14, 2011 1:31am
i need my coffee.
90% of traders use TA, indicators and prediction
  • #288,528
  • Edited 1:57am Sep 14, 2011 1:56am | Edited 1:57am
Quoting CasperTrader
Looks like it's playing out.

Does anyone know what should be the target for H&S? I've depicted mine in the chart.
Target approaching. Looking to buy here. At least expecting some bounce off here. This also seems to be close to the lower trendline on Daily (attached) and around the lower Bollinger level on the weekly.

It may actually range here for a week or so before reaching 1.5770-80 and before a real bounce off occurs.

P.S. Note the flag like formation that may be developing.
Attached Image (click to enlarge)
Click to Enlarge Name: GBP_D.JPG Size: 74 KB
  • #288,529
  • Sep 14, 2011 2:00am Sep 14, 2011 2:00am
Quoting _BBKing_
a zoom out of same previous
if we loose the 5700/10 (near) there is a strong possible soldier near 5650.
Nice charts.
  • #288,530
  • Sep 14, 2011 2:04am Sep 14, 2011 2:04am
Quoting CasperTrader
Looks like it's playing out.

Does anyone know what should be the target for H&S? I've depicted mine in the chart.
Not sure but it may still try to re-test the trendline around 1.592x before reaching 1.567x and range around here for couple of weeks.

Still, anything can happen. Keeping fingers crossed.
  • #288,531
  • Sep 14, 2011 2:43am Sep 14, 2011 2:43am
Thanks for helping to clean up this thread, wormboy. We may not always be right but the chumps must not be allowed to take over.
Gone to a better place
  • #288,532
  • Sep 14, 2011 2:56am Sep 14, 2011 2:56am
strange that the problem is in euro zone and the euro is holding ok but cable and AUD going down!!!
  • #288,533
  • Sep 14, 2011 2:57am Sep 14, 2011 2:57am
Quoting redbeben
morning

not in the mood to reply to such rude words but here you go in case you missread it the first time ''but who knows in this market
I need 1.5890 by 5 pm or else I will change the view'

and as I mentioned in the previous posts mate you really have to go back in time and look at my charts and detailed explanation.just see how precise were the calculations on my calls and just look who and maybe ask yourself why they vouched for me ?

but I get it I get it ignorance is blessing

way to go there bro
p.s. yesterday...
i gave u a vouch so i guess there must have been a reason for it!..but common man!! u are sounding like yur crystal mag..with your predictions..all azim is saying is any1 can say 2.0 in cable ..means nothing..analysis is impt..u have to be able to back it up with a chart

SL placement..?
mm ?
entery?


now these things arent impt but when u say what u did:- they are!!
  • #288,534
  • Sep 14, 2011 3:00am Sep 14, 2011 3:00am
Quoting Abouelzelouf
strange that the problem is in euro zone and the euro is holding ok but cable and AUD going down!!!

its a strange situation:- USD is on the ropes, because its a safe heaven investors have fear..so they buy into it and screw everything else..i think
  • #288,535
  • Sep 14, 2011 3:11am Sep 14, 2011 3:11am
Quoting nAVIN2007
its a strange situation:- USD is on the ropes, because its a safe heaven investors have fear..so they buy into it and screw everything else..i think
How about your long mate ? I am remember you keep long when this pair begin turn south,hopes everything is ok ya
If there was easy money lying around,no one would be forcing it into your
  • #288,536
  • Sep 14, 2011 3:19am Sep 14, 2011 3:19am
Quoting Abouelzelouf
strange that the problem is in euro zone and the euro is holding ok but cable and AUD going down!!!
SNB won't allow Euro below 1.2. That's their stated aim and as long as they can fund this, it will prop up the Euro. Secondly, China has big business interests in Europe and massive USD holdings.
Gone to a better place
  • #288,537
  • Sep 14, 2011 3:24am Sep 14, 2011 3:24am
Quoting FXMindset
How about your long mate ? I am remember you keep long when this pair begin turn south,hopes everything is ok ya

im longterm long...more of an investment..(i hope)

wasnt a good idea thou
  • #288,538
  • Sep 14, 2011 3:28am Sep 14, 2011 3:28am
Quoting nAVIN2007
im longterm long...more of an investment..(i hope)

wasnt a good idea thou
Longterm long?so you added long without stoploss ya bro?if you have stoploss in this longterm long then how many % your risk
If there was easy money lying around,no one would be forcing it into your
  • #288,539
  • Sep 14, 2011 3:31am Sep 14, 2011 3:31am
Quoting FXMindset
Longterm long?so you added long without stoploss ya bro?if you have stoploss in this longterm long then how many % your risk

i have a stop loss in place and am risking 35-40 % of my account on this
I could be in this trade for more than 1 year..i understand this, that is why i say it is an investment..im not trading am investing
  • #288,540
  • Sep 14, 2011 3:34am Sep 14, 2011 3:34am
muted response to good numbers. Expecting a slide to 5700 cable and 120 geppy now.
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