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Cable Update (GBPUSD)

  • #297,441
  • Jan 11, 2012 1:03pm Jan 11, 2012 1:03pm
think i just missed the chance to get my sell of at 1.53155

do you think we have bottomed? What is the general consensus?
Money never sleeps...
  • #297,442
  • Jan 11, 2012 1:05pm Jan 11, 2012 1:05pm
My basket containing mostly gbp pairs is up 1400 pips since friday

i think I need to celebrate this weekend.. Cheers to a great start in 2012!

GBP index is still heading down. My price projection downward (thanks to demark trendlines) is 600 more pips based off the weekly charts.

Here's an image of the GBP index.. These are actual realtime candlestick charts for individual currencies. These are offered by liteforex's sigtrader 4

http://img703.imageshack.us/img703/2358/cicr14.png
  • #297,443
  • Jan 11, 2012 1:29pm Jan 11, 2012 1:29pm
Quoting Dyekid217
My basket containing mostly gbp pairs is up 1400 pips since friday

i think I need to celebrate this weekend.. Cheers to a great start in 2012!

GBP index is still heading down. My price projection downward (thanks to demark trendlines) is 600 more pips based off the weekly charts.

Here's an image of the GBP index.. These are actual realtime candlestick charts for individual currencies. These are offered by liteforex's sigtrader 4
interesting chart.
90% of traders use TA, indicators and prediction
  • #297,444
  • Jan 11, 2012 1:31pm Jan 11, 2012 1:31pm
Quoting Dyekid217
My basket containing mostly gbp pairs is up 1400 pips since friday

i think I need to celebrate this weekend.. Cheers to a great start in 2012!

GBP index is still heading down. My price projection downward (thanks to demark trendlines) is 600 more pips based off the weekly charts.

Here's an image of the GBP index.. These are actual realtime candlestick charts for individual currencies. These are offered by liteforex's sigtrader 4

http://img703.imageshack.us/img703/2358/cicr14.png
Hey,

Can you please give me the name of the trend indicator that you pointed on the right hand side of your screen and where I can find this indicator.

Thanks, I appreciate your help.
  • #297,445
  • Jan 11, 2012 1:31pm Jan 11, 2012 1:31pm
thanks! definately stop by the thread I just started in the trading systems forum labeled Long term cicr.

It will definately change your view on the markets and why it's important to single out each currency for each pair.

Although I am not the originator of the system I do speak highly of it and my results show..

here's the thread to whoever was wondering about any of the indicators on the chart

http://www.forexfactory.com/showthread.php?t=336094
  • #297,446
  • Jan 11, 2012 1:49pm Jan 11, 2012 1:49pm
be safe trading
  • #297,447
  • Jan 11, 2012 1:57pm Jan 11, 2012 1:57pm
yup.. already locked in profit on all of my pairs except for one.. so now I have some GREAT risk free trades that I'm gonna let run atleast til end of next week.
  • #297,448
  • Jan 11, 2012 2:06pm Jan 11, 2012 2:06pm
Quoting PoundTrader
be safe trading
this i heard... not as much as this "be safe having sex" though...
Yet people should be equally cautious in both...
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #297,449
  • Jan 11, 2012 2:29pm Jan 11, 2012 2:29pm
Quoting Dyekid217
yup.. already locked in profit on all of my pairs except for one.. so now I have some GREAT risk free trades that I'm gonna let run atleast til end of next week.
For the past couple of week GPB have been in swing mode.
y not take profit and wait for retrace? Otherwise all profits might be gone by the end of the week
  • #297,450
  • Jan 11, 2012 2:30pm Jan 11, 2012 2:30pm
what happen to all the traders that went long
  • #297,451
  • Jan 11, 2012 2:33pm Jan 11, 2012 2:33pm
Quoting PoundTrader
what happen to all the traders that went long
We are all huddled under a bridge short made up for dumb move last night.
Come with me if you want to live....
  • #297,452
  • Jan 11, 2012 2:33pm Jan 11, 2012 2:33pm
Quoting PoundTrader
what happen to all the traders that went long
I still held mine .... Only -13 Pips @ the moment
EUR/USD and AUD/USD are retrace now.
I'm waiting for GBP to retrace too I hope

- 160 PIPs without retrace that's gonna hurt
  • #297,453
  • Jan 11, 2012 2:43pm Jan 11, 2012 2:43pm
Quoting Ill-b-back
We are all huddled under a bridge short made up for dumb move last night.
there still room for downtrend
  • #297,454
  • Jan 11, 2012 2:46pm Jan 11, 2012 2:46pm
Quoting PoundTrader
there still room for downtrend
Yep, reading between the lines, I will look to reload short tonight depending on how things look when I get home
Come with me if you want to live....
  • #297,455
  • Jan 11, 2012 3:01pm Jan 11, 2012 3:01pm
Quoting aarontdang
I still held mine .... Only -13 Pips @ the moment
EUR/USD and AUD/USD are retrace now.
I'm waiting for GBP to retrace too I hope

- 160 PIPs without retrace that's gonna hurt
Watch out buddy... AUDUSD... tech wise is about to collapse.... seriously thinking to short here right here right now....

Attached Image (click to enlarge)
Click to Enlarge Name: audusd.gif Size: 20 KB


And yes plesase do excuse my bad trade... 1.0210 was hoping it would've held but i didnt realise it was a bounce zone... looking forward to see it collaps and the falling leg will be significantly larger possibly capable of reaching my TP at 1.0100
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #297,456
  • Edited 3:19pm Jan 11, 2012 3:05pm | Edited 3:19pm
Quoting aarontdang
For the past couple of week GPB have been in swing mode.
y not take profit and wait for retrace? Otherwise all profits might be gone by the end of the week

The trend is gonna be down for the next week.. possibly even month.

If you visit the thread I started in the trading systems you can see that most currencies will head one direction for the entire month.. the trend has already been established and all of my signals plus confluence of everything on my chart says to stay in.

Why pay the spread when I can just trail my stop and add-on positions when I see fit

Here's just a basic overview of how the currency indices work using aud as an example

http://img692.imageshack.us/img692/6931/cicr10.png
http://img713.imageshack.us/img713/5874/cicr11.png

also.. the only aud pair I'm short right now is audnzd.. THe reason being is that NZD has signalled an uptrend on the weekly timeframe..even if aud doesnt go south too much it's still going to be a positive trade since nzd will cause the pair to fall. But if aud falls then it will send this pair skydiving straight into profit
  • #297,457
  • Jan 11, 2012 3:25pm Jan 11, 2012 3:25pm
Quoting aarontdang
I still held mine .... Only -13 Pips @ the moment
EUR/USD and AUD/USD are retrace now.
I'm waiting for GBP to retrace too I hope

- 160 PIPs without retrace that's gonna hurt
I am stuck in the Long trade and currently approx -120 pips. Waiting for some retrace in this pair as every other correlated pair retraced except G/U...
  • #297,458
  • Jan 11, 2012 3:36pm Jan 11, 2012 3:36pm
forexgain-

You are losing because THE GBP IS PULLING DOWN THE PAIRS!!! check out this chart please

give me one moment to edit this chart.. I'll edit the post when I'm done
  • #297,459
  • Jan 11, 2012 3:37pm Jan 11, 2012 3:37pm
Quoting Forexgain
I am stuck in the Long trade and currently approx -120 pips. Waiting for some retrace in this pair as every other correlated pair retraced except G/U...
i'm afraid you'll have to suck it up, but your situation is bad... reason why GBPUSD didnt retrace is simply because unlike the other pairs like EURUSD or AUDUSD, is that GBPUSD broke a Major Support today, one that was held for couple weeks, your best bet is that it meets the next support at 5270 which is another key support if 5270 doesnt lead to a reversal or bounce when reached... you are in deep trouble....
with the situation in Europe Continuing to deteriorate... you can lose your ass fast...
as to answer why GBPUSD hasnt retraced... 1. it is perhaps waiting for NY session to close to retrace when the market is less liquid to achieve a much STRONGER retracement, 2. GBPUSD has broken a support and hasnt met the next support... we are litereally floating midway... if you dont have a trade... my advice is dont enter until one side is reached, dangerous to enter trade when it is floating midway...
3. GBPUSD failed to break back above an important trendline as a sign of rejection which lead to today's fall... i'll upload a pic to show you
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.gif Size: 22 KB

As seen, right before the fall.. EURUSD tried to re-enter this Upwards Tendline in the H4 chart (the Aqua Blue Colour Line), it failed significantly with a lot of bearish signals suggesting it... MACD turned Bearish (when the Gold colour crosses the white, or when you start seeing Red Upwards bars turning into Green Downwards bars)
At last the Moving Averages, both EMA one 5 and one 14, they are there to show the trend.. 5 is the gold and 14 is the purple... whenever gold is below purple (5 is below 14) that is a bear trend... and today we see the crossover towards a bearish moving average signal...
All and all... Today's been a sure fire SELL signal....
i hope this explains and wish you best of luck to your existing trades
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #297,460
  • Edited 4:10pm Jan 11, 2012 3:46pm | Edited 4:10pm
Was gonna re-edit my post but I think everyone should see this.

http://img855.imageshack.us/img855/2358/cicr14.png

Cut your losses early before it stops you out..


EDIT: This is the actual GBP index though not paired with anything.. This index is the strongest one in the market right now with bearish sentiment (At the moment) other than the euro. While NZD/AUD/CAD/USD are going up it is pulling the pair down even further since they are going against each other.. giving you a strong trend

These are demark trendlines and I think everyone should read about them because they are the most up to date areas of support/resistance.

IF YOU MAKE YOUR TRENDLINES READING THE CHARTS FROM THE LEFT TO RIGHT (PAST TO PRESENT) FIRST YOU ARE NOT DRAWING THEM CORRECTLY!!!!!

We need to learn how to read the most recent price action
Demark found that reading the lows-highs highs-lows from the RIGHT** to LEFT** the trendlines would read into the future and predict actual up to date trends and projections. The picture above shows the up close on the week before which is a qualifier that validates the trendline break.

If the qualifiers are not met then you have a false trade..

Again just the basics but I recommend everyone that sees this post read up on them

Here's some documents and the indicator itself


Also.. if the dollar keeps heading north (which everyone expects) the gbpusd will fall even fasster
Attached File(s)
File Type: zip Trendline trading.zip   1.5 MB | 638 downloads
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