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Cable Update (GBPUSD)

  • #305,761
  • Apr 2, 2012 7:16am Apr 2, 2012 7:16am
Quoting Ill-b-back
Goodnight

As I told you....be careful - and as I also told you based on the other pairs I was watching from 4AM EST and the overall equity weakness I went long USD.

I just closed my position and posting results first one is this mornings trade on the USDX and the second one is from the one I posted last night - just a quick short scalp on Cable.

I am done for the day - sunny here where I am. Going to do something in the sun.

Cheers,

Faller.
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I don't trust any move - when you have profit...take it.
  • #305,762
  • Apr 2, 2012 7:25am Apr 2, 2012 7:25am
Quoting Ill-b-back
What's all the bearish fuss about? Maybe a retrace but what suggests we are heading south significantly? What down channel are we in?
Don't worry mate, still far from H1-H4 bullish trend line, ......
  • #305,763
  • Apr 2, 2012 7:54am Apr 2, 2012 7:54am
Have a good day my fellow traders.......I will check back in later to see if my early morning thoughts hold true -

Cheers -

Faller
I don't trust any move - when you have profit...take it.
  • #305,764
  • Apr 2, 2012 8:20am Apr 2, 2012 8:20am
now i think the bears are coming into the picture.. manage to get my hands on fiber and swissy..

i think i will search for short entry for cable maybe tomorrow.. would like to see some momentum and valid reversal first on cable. atm still sideline ...

see u all later guys..
  • #305,765
  • Apr 2, 2012 8:42am Apr 2, 2012 8:42am
Quoting Ill-b-back
What's all the bearish fuss about? Maybe a retrace but what suggests we are heading south significantly? What down channel are we in?
Well fundy-wise ive said the GBPUSD EURUSD and AUDUSD is way overdue for a fall... only thing is dont know when...
1.60 on GBPUSD sure came in as a nice psych level to short for plenty with negative news coming out of UK, only logical to be short there since it might be peaking there...
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #305,766
  • Apr 2, 2012 8:49am Apr 2, 2012 8:49am
Quoting Ill-b-back
What's all the bearish fuss about? Maybe a retrace but what suggests we are heading south significantly? What down channel are we in?
i told before that market can be deceiving at current level.. one would have misses on the sentiment by only using 1 pair as the method of analysis..

you're right regarding concentrating on one pair but you also have to get the "feel" on overall sentiment by analyzing other instruments as well.. that's the job of a trader. who says this business is easy? it is the most challenging business if you ask me, a lot of hard work..

technical analysis is just a fraction of work that has to be done by a trader..

all the best mate.. may green pips with you always..
  • #305,767
  • Apr 2, 2012 9:05am Apr 2, 2012 9:05am
i expect to short at 6030 and i choose this price because of the previous sell off from this level and about 50% of the move.. stops is just above today high..
  • #305,768
  • Apr 2, 2012 9:24am Apr 2, 2012 9:24am
  •  eggs
  • | Joined Nov 2011 | Status: Everybodys A Central Banker Here... | 819 Posts
Quoting A-speculator
i expect to short at 6030 and i choose this price because of the previous sell off from this level and about 50% of the move.. stops is just above today high..

I second the short action @ 6030. This was London session Daily R1. Price breached that level early in the session but could not sustain those highs and sold off back to the Pivot.

Only a short term scalp to the downside however before bulls take back over.
  • #305,769
  • Apr 2, 2012 9:27am Apr 2, 2012 9:27am
right after I closed my four second 50usd (scalp mode), I saw this

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Hai all!
I trade to live
  • #305,770
  • Apr 2, 2012 9:30am Apr 2, 2012 9:30am
Quoting eggs
I second the short action @ 6030. This was London session Daily R1. Price breached that level early in the session but could not sustain those highs and sold off back to the Pivot.

Only a short term scalp to the downside however before bulls take back over.
i doubt that mate.. if this downmove is valid, i expect a run for 3 days before a pullback.. the move is considered valid by me if we manage to get below 5950 level..
  • #305,771
  • Apr 2, 2012 9:36am Apr 2, 2012 9:36am
  •  eggs
  • | Joined Nov 2011 | Status: Everybodys A Central Banker Here... | 819 Posts
We're currently around the midpoint of today's Price Action. NY Close will either retest the Daily Highs or Lows.

I know... real news flash huh...
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  • #305,772
  • Apr 2, 2012 11:12am Apr 2, 2012 11:12am
i could be wrong....
.... but last time i saw this overall PA in GU, price went down a bit. something like 300 or 400 pips....
90% of traders use TA, indicators and prediction
  • #305,773
  • Apr 2, 2012 12:05pm Apr 2, 2012 12:05pm
Quoting Nachiket
I don't believe in the japanese. i believe your entry point may be good but shirakawa can come in anytime and his comments will spook the usd/jpy. be careful of the japanese. gbp/jpy's price depends a lot on the usd/jpy
exactly what i traded for as you can see 131.20 exact hit and reverse but i got my target however GBPUSD trade is still running.
and eurusd took a little profit and eurjpy gone good also.
this weeks target is done actually.
i dont over trade in peoples funds i don't gamble its Business Pure Business.
take it slow and you will do that for ever,
i thought and tried to get an answer why the hell on earth people take loss in forex. and 80-90% blow their accounts why?
so i tried and got few answers i was looking for.
i will write all the details in my next post,
oh yes be careful with GBP/USD it may fall any time.
believe me, big boys are doing it very very well.
hope you will not get into their trap.
.
Choose.Wisely
  • #305,774
  • Apr 2, 2012 12:06pm Apr 2, 2012 12:06pm
Quoting Fx.Fishermen
added EURUSD sell also for 50 pips target.
lets see..
Thank You.


PipSniper.
Well i must say nice day.
target hit and reversed, got my 50 pips.
Thanks to FFIBER.
  • #305,775
  • Apr 2, 2012 12:56pm Apr 2, 2012 12:56pm
One of those weird days...
Bad news from Europe and good news in US - US good news stirring up risk-on sentiment not for currencies but commodities and Stock benefiting from real flow...

US depreciates across the board on sale of dollar for commodities look at gold and oil... look at the magnitude of Gold rise and Oil rise, and UCAD and AUDUSD
these pairs are moving much stronger than EURUSD or GBPUSD on weaken dollar...

Im still bearish on the EURUSD and the GBPUSD... not a big fan of them...
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #305,776
  • Apr 2, 2012 1:03pm Apr 2, 2012 1:03pm
Quoting A-speculator
i told before that market can be deceiving at current level.. one would have misses on the sentiment by only using 1 pair as the method of analysis..

you're right regarding concentrating on one pair but you also have to get the "feel" on overall sentiment by analyzing other instruments as well.. that's the job of a trader. who says this business is easy? it is the most challenging business if you ask me, a lot of hard work..

technical analysis is just a fraction of work that has to be done by a trader..

all the best mate.....
Well, we are at 6020, and I am still seriously wondering what all the fuss is about, seriously. Must be a lot of scalpers out there I suppose who see this as a big move I guess tomorrow is a different day, so will see what it brings. If it goes down, will catch it for sure.
Come with me if you want to live....
  • #305,777
  • Edited 1:27pm Apr 2, 2012 1:20pm | Edited 1:27pm
Quoting bguguen
One of those weird days...
Bad news from Europe and good news in US - US good news stirring up risk-on sentiment not for currencies but commodities and Stock benefiting from real flow...

US depreciates across the board on sale of dollar for commodities look at gold and oil... look at the magnitude of Gold rise and Oil rise, and UCAD and AUDUSD
these pairs are moving much stronger than EURUSD or GBPUSD on weaken dollar...

Im still bearish on the EURUSD and the GBPUSD... not a big fan of them...
yeah, that is a long awaited retracement for me on the ucad. had my pending at 9910 but then i move it up a bit to 9915 and had been triggered, and i'm trading against the 9900 support and obviously you know where my stops is right?

ucad has a bit correlation on cable also which i think due to the US against the commodity..

Anyway, good insights mate.. keep it up.
  • #305,778
  • Apr 2, 2012 1:23pm Apr 2, 2012 1:23pm
Quoting Ill-b-back
Well, we are at 6020, and I am still seriously wondering what all the fuss is about, seriously. Must be a lot of scalpers out there I suppose who see this as a big move I guess tomorrow is a different day, so will see what it brings. If it goes down, will catch it for sure.
yeah, i don't expect it to go down instantly, i expect it to consolidate between current price and 6000 .. the main direction (clear direction of the bears) can be seen when the price trading below 5950 imho..
  • #305,779
  • Apr 2, 2012 1:33pm Apr 2, 2012 1:33pm
Quoting A-speculator
yeah, i don't expect it to go down instantly, i expect it to consolidate between current price and 6000 .. the main direction (clear direction of the bears) can be seen when the price trading below 5950 imho..
This is true, we rose sharply Friday, consolidated, then rose above consolidation before London, this is why I mentioned that I didn't see a reason for a significant down move right now, would have been difficult against PA. However, tomorrow shows some bearish potential but will have to wait and see
Come with me if you want to live....
  • #305,780
  • Apr 2, 2012 2:26pm Apr 2, 2012 2:26pm
To me, these areas represent sustained buying pressure against the trend.
I don't see such long bullish moves on the GU chart at turning points anywhere else.
I personally think we are just at the start of a bull run, its just my feel of the charts. To me, they act as a platform from what I can see, momentum has been shifting for quite some time.
Let's see.
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