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Cable Update (GBPUSD)

  • #297,461
  • Jan 11, 2012 4:50pm Jan 11, 2012 4:50pm
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...
Use Stop Loss .... i'm using it on mine .... - 50 PIPS is the maximum ...
Just cut my loss and trade another one ....
I blew up too many accounts by just holding on the losing trade.

AUD/USD is the one keep kicking my butt ...
I have to do a reverse psychology on my trade.
When I think its time to buy ... sell
When I think its time to sell .... buy

I'm closing all my Long positions with GPB/USD already ...
Close them @ 1.5332 ... take a -6 PIPS on one account
and +10 PIPS on the other account ... so still gain profit
  • #297,462
  • Jan 11, 2012 4:53pm Jan 11, 2012 4:53pm
Quoting abdul_halim
my view....
holding short...
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  • #297,463
  • Jan 11, 2012 5:05pm Jan 11, 2012 5:05pm
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...
whats your s/l, if it breaks 1.5297 then we could see 1.5078 by end of week. did you even have a s/l
  • #297,464
  • Jan 11, 2012 5:06pm Jan 11, 2012 5:06pm
today monetery policy eyed!

BOE
expect on hold at 0.50%
bond program expect hold

if bond prog hike for 25-50..gbp could tumble

ECB
expect to cut 25bps to 0.75%(maybe due to ez crisis widen n eco uncertainty)

Dovish Draghi comment expect ..if he give a hawkish euro can get the support there n if still dovish euro absolutely will test the new low level!

just my forecast only
Bismillah
  • #297,465
  • Jan 11, 2012 5:08pm Jan 11, 2012 5:08pm
nothing change as of yet
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  • #297,466
  • Jan 11, 2012 5:41pm Jan 11, 2012 5:41pm
Quoting aarontdang
Use Stop Loss .... i'm using it on mine .... - 50 PIPS is the maximum ...
Just cut my loss and trade another one ....
I blew up too many accounts by just holding on the losing trade.

AUD/USD is the one keep kicking my butt ...
I have to do a reverse psychology on my trade.
When I think its time to buy ... sell
When I think its time to sell .... buy

I'm closing all my Long positions with GPB/USD already ...
Close them @ 1.5332 ... take a -6 PIPS on one account
and +10 PIPS on the other account ... so still gain profit
Why do you have to have two account, it is the same as doing short and long in one account.
  • #297,467
  • Jan 11, 2012 6:38pm Jan 11, 2012 6:38pm
Quoting thevadd
Why do you have to have two account, it is the same as doing short and long in one account.

short and long at the same time is often the way i trade, either way the market moves i win and as long as it swings back and forth i rack up the pips.
Money never sleeps...
  • #297,468
  • Jan 11, 2012 7:51pm Jan 11, 2012 7:51pm
are you talking about pending orders? They do work pretty well.. if you know what you're doing lol
  • #297,469
  • Jan 11, 2012 8:04pm Jan 11, 2012 8:04pm
Quoting Dyekid217
are you talking about pending orders? They do work pretty well.. if you know what you're doing lol

yes sir, restricts your loss but counts on the market swinging up and down
Money never sleeps...
  • #297,470
  • Jan 11, 2012 8:31pm Jan 11, 2012 8:31pm
yup.. if you understand basic s&r and can find the correct levels of it then you are golden.

even that and a basic stochastics or even volume indicator would work.

anyways my outlook on most gbp pairs remain bearish.
  • #297,471
  • Jan 11, 2012 8:35pm Jan 11, 2012 8:35pm
Good morning,
Speaking about GBPUSD-AUDUSD correlation I'd like to re-post COT charts that CFTC reported last Friday (Saturday my time). imo this week their position could be similar.

Quoting gsantri
.
Traders were more optimistic about the Australian dollar this week, upping their optimistic bets by 46%. Speculators hold $4.8 billion in net bets in favor of the Australian dollar, making it the third-largest net position held against the dollar, after the euro and the yen.
.
as seen below large traders (green/speculators), which I prefer to go with during trending market, has shorted cable

http://www.forexfactory.com/attachme...1&d=1325904632


at the same time they also longed aussie

http://www.forexfactory.com/attachme...1&d=1325910785

similar with gold and crude.

The situation that we can not rely on the usual correlation.
hope it helps.
  • #297,472
  • Jan 11, 2012 8:41pm Jan 11, 2012 8:41pm
if you like looking at cot charts you should download liteforex's sigtrader 4 platform.

They have individual currencies in realtime candle charts. (liteforex is the only broker I know of that has these) and also check out the cicr thread I have been having much success and I think the information is quite useful even if you don't use the system

Most currencies move one direction for most of the month.. mainly due to the important news releases that happen within the first 10 days of the month.

if you match a weak index with a strong... ie. GBP with USD (like right now since usd has been going up) you have a nice trend trade downward.

I have been short all gbp pairs since last friday and am now up 1400 pips floating with profit locked in and letting it ride the wave.

Cheers and short this mothaaaaa!!!
  • #297,473
  • Jan 11, 2012 8:44pm Jan 11, 2012 8:44pm
Quoting _BBKing_
long?
be careful
price cleared that old weekly low and still trading below it without going back up.
5270 is on cards imo but there is actually nothing which can assure 1. that it will go 2. if price goes, that it will be good support.
imo longs are very far from actual scenario.(scalping excluded!)
but this is just my method, i always wait a confirmation in price before making a decision.
i lost too many times thinking the move was enough.

53 area is definetly a strong one but if is going broken....... we will consider soon these level...
You're right... i closed this long, -5 pips and put a sell limit... let's see what asian think today

Recently I found out that Britain export is falling, while import is keep standing. So, if pounds keep weakens, then cost-push inflation could arise, that makes Bank of England do some intervention to avoid inflation... the question is when and how much?

donny
  • #297,474
  • Jan 11, 2012 9:13pm Jan 11, 2012 9:13pm
USDX
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not euphoria follower
  • #297,475
  • Jan 11, 2012 9:26pm Jan 11, 2012 9:26pm
Quoting Donny_aw
.
Recently I found out that Britain export is falling, while import is keep standing. So, if pounds keep weakens, then cost-push inflation could arise, that makes Bank of England do some intervention to avoid inflation... the question is when and how much?

donny
- UK's main trading partners are European Union countries.
- Latest trade balance reports was for November 2011.

imo its not too relevant to do some intervention now
  • #297,476
  • Jan 11, 2012 10:16pm Jan 11, 2012 10:16pm
.
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If there was easy money lying around,no one would be forcing it into your
  • #297,477
  • Jan 11, 2012 10:25pm Jan 11, 2012 10:25pm
Quoting FXMindset
.

??

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(.) (.)
-
v
I don't trust any move - when you have profit...take it.
  • #297,478
  • Jan 11, 2012 10:29pm Jan 11, 2012 10:29pm
I think it is time to sell most likely more move down,
{Promotion Removed}
  • #297,479
  • Edited 11:42pm Jan 11, 2012 10:48pm | Edited 11:42pm
Morning , price reacting ok so far , 5337 not broken up so far & now testing 5300 , support below 5297 before 5271 next . eu just overlap 2726 + a d bottom ( and suspecious thing if any wrong , 1 pip may go in the spread ofcourse ) & will wait how theses levels react . Hope not any great before the break . uj test long ok negative a little but on support & bounce/possible intervention level while gbpchf short working well , tp set there 470 pips apart, 80 pips + running now .
lets see how far it fall today & if able next back to close weekly tl closewise 5423 to next weekly turmoil , a very tough job indeed .
gold unrest still but looks ready for big fall .Aussie lady looks break 1.0264 to the start down this time .
fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #297,480
  • Jan 11, 2012 10:57pm Jan 11, 2012 10:57pm
Quoting Faller
??

??

(.) (.)
-
v
Beat me to it.
?
Come with me if you want to live....
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