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Cable Update (GBPUSD)

  • #316,281
  • Jun 13, 2012 10:40pm Jun 13, 2012 10:40pm
Quoting iqyu5an
dude... how r u ?
everything almost perfect here
only need to see commodities up. lol

hopefully next week trading will be better!

how is you?
90% of traders use TA, indicators and prediction
  • #316,282
  • Jun 13, 2012 10:46pm Jun 13, 2012 10:46pm
Quoting josh1125
I guess I probably should have posted a chart explaining what I see.
Agree with you. Have you or RTM placed your longs yet or are you going to wait until PA breaks above 1.56?

Me... I've been burned too many times to count so I think I'm gonna wait and see. I suppose I'll miss out on 80 pips but better safe than sorry, me thinks...
  • #316,283
  • Jun 13, 2012 10:55pm Jun 13, 2012 10:55pm
Quoting josh1125
I guess I probably should have posted a chart explaining what I see.
problem is that we are not in uptrend.
there is a huge downtrend coming from 1.63. actually this move in GU EU AU etc... .is simply short covering ahead of greek events during this week end.
indeed there is a decreasing liquidity in market and prices are nervous.

what you see as an ascending triangle can be also a huge "bearflag" seen in all pairs.

only 2 facts are true:
1. possible to risk long positions near lower line. problem in this case is that price could spike out and come back into before candle close.
2. a clear breake above the 5600 can be the trigger for more up. problem in this case is that just above there is the 5630-50 which could prove strong supply.

tight range, that could become more tight today/tomorrow.
90% of traders use TA, indicators and prediction
  • #316,284
  • Jun 13, 2012 10:58pm Jun 13, 2012 10:58pm
Quoting yooner
Agree with you. Have you or RTM placed your longs yet or are you going to wait until PA breaks above 1.56?

Me... I've been burned too many times to count so I think I'm gonna wait and see. I suppose I'll miss out on 80 pips but better safe than sorry, me thinks...

i gave up yesterday for a similar reason!
better a missed trade than a loss.
90% of traders use TA, indicators and prediction
  • #316,285
  • Jun 13, 2012 11:02pm Jun 13, 2012 11:02pm
Quoting _BBKing_
problem is that we are not in uptrend.
there is a huge downtrend coming from 1.63. actually this move in GU EU AU etc... .is simply short covering ahead of greek events during this week end.
indeed there is a decreasing liquidity in market and prices are nervous.

what you see as an ascending triangle can be also a huge "bearflag" seen in all pairs.
_BBKing_,
I'm sorry for asking what you'll probably consider a silly question, but if a large number of people start entering short positions, this will cause the PA to go up?

Thanks for your patience.
  • #316,286
  • Jun 13, 2012 11:14pm Jun 13, 2012 11:14pm
Quoting yooner
_BBKing_,
I'm sorry for asking what you'll probably consider a silly question, but if a large number of people start entering short positions, this will cause the PA to go up?

Thanks for your patience.
hello
no silly at all. it's a very interestin question. actually i can't answer you 100% sure. i mean, tendentially, if there is more short pressure, price should go down. let's suppose that market is done by 100traders. 50 are short and 50 are long.
if for a reason 1 switch to short, price goes down unlimited until there is again a 50-50.
then, talking about the exact second when orders goes filled, is not possible to know... certainly, sometimes market takes a counter direction before main move.
i mean: we see some 20 25 fast down, before a 150 pips up. and opposite.
sometimes this is insane, but happens.
in the past some said me it is called "lack of liquidity" when algos stop filling orders for some seconds before events or before heavy impact orders.
just like leave market for a while, so price goes in spike and take advantage of a perfect entry.

just my personal idea
90% of traders use TA, indicators and prediction
  • #316,287
  • Jun 13, 2012 11:24pm Jun 13, 2012 11:24pm
Morning , while the ranges or some more down remain intact probable more correction still on the scene and so will remain alert for any short scalping now (actually both for long short though at the same time ).

waiting for some good set up before any eu to follow gu .
fontu
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #316,288
  • Jun 13, 2012 11:25pm Jun 13, 2012 11:25pm
My best decision was to trade smaller trades.Very hard to pick when these waves of ups an downs kick in.
A lot of traders would be needing wide stops.
Change tactics to suit the night mare situations,
Nice big spike would be good to clear some trades

Does any one know of any UK sites that have info on the pair
  • #316,289
  • Jun 13, 2012 11:31pm Jun 13, 2012 11:31pm
Quoting eliteincome
My best decision was to trade smaller trades.Very hard to pick when these waves of ups an downs kick in.
A lot of traders would be needing wide stops.
Change tactics to suit the night mare situations,
Nice big spike would be good to clear some trades

Does any one know of any UK sites that have info on the pair
personally i think would be better to develop 2 different trading setups: one for trends, one for ranging like now.

when in ranging i'm used to simply switch in smaller TF like m15 and catch moves near pivots (daily weekly). once pivots are filled, like now, i stay out and wait market to spike and clear some positons
90% of traders use TA, indicators and prediction
  • #316,290
  • Jun 13, 2012 11:59pm Jun 13, 2012 11:59pm
Quoting pasta
bad entry i think, risking small here..
targeting DPP.
closed. can't hold it longer, have some work to do. will see again on LO.
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  • #316,291
  • Jun 14, 2012 12:04am Jun 14, 2012 12:04am
Quoting _BBKing_
hello
no silly at all. it's a very interestin question. actually i can't answer you 100% sure. i mean, tendentially, if there is more short pressure, price should go down. let's suppose that market is done by 100traders. 50 are short and 50 are long.
if for a reason 1 switch to short, price goes down unlimited until there is again a 50-50.
then, talking about the exact second when orders goes filled, is not possible to know... certainly, sometimes market takes a counter direction before main move.
i mean: we see some 20 25 fast down, before...
Thanks BBKing. I think I'm just going to sit it out until after the Greek elections. Whatever the outcome is there, I'm sure it'll affect all pairs across the board . :O

For all those that have the cahoonas to trade during this time, I hope you all have green pips!
  • #316,292
  • Jun 14, 2012 12:41am Jun 14, 2012 12:41am
cool dude ...

am fine here. just scalp the long term trend. here and there...hit and run Mode ON

bull and bear in the same time heyyy



Quoting _BBKing_
everything almost perfect here
only need to see commodities up. lol

hopefully next week trading will be better!

how is you?
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not euphoria follower
  • #316,293
  • Jun 14, 2012 12:45am Jun 14, 2012 12:45am
one more go at this pair.
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  • #316,294
  • Jun 14, 2012 1:26am Jun 14, 2012 1:26am
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A break would hint at a potential downtrend continuation.

take care
  • #316,295
  • Jun 14, 2012 1:31am Jun 14, 2012 1:31am
Quoting _BBKing_
personally i think would be better to develop 2 different trading setups: one for trends, one for ranging like now.

when in ranging i'm used to simply switch in smaller TF like m15 and catch moves near pivots (daily weekly). once pivots are filled, like now, i stay out and wait market to spike and clear some positons
Hey bro, hows things??
im officially back to HK and im in summer moods now, making money here and there but not really stressing myself like i did back in london...

Now for many of you people around forexfactory whos wondering why EURUSD/GBPUSD is going up on such poor sentiment, the reasoning is simple... We are retail traders, we all are here.... whats basically happening is that news comes up saying on EUROPE is in terrible situation and stuff, good enough news to make the average retail traders fall into a trap of SELLING with the news.... when markets show that theres a large amount of Retail traders Shorting, 99% of the time the market will move up..... since 99% of the time retail traders are wrong.....
Flatfish has shown us how Sentiment and Market movements are Not Positively correlated, but rather Negatively Correlated... atlesat its been the case for GBPUSD for the last year...
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #316,296
  • Jun 14, 2012 1:31am Jun 14, 2012 1:31am
hit and clear for another 60 + 100 pip ( a bonus for me )

flat at the moment ...

Quoting iqyu5an
h1 & h4

already closed one position for 50 pips and let 2 position running ...SL at BEP
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not euphoria follower
  • #316,297
  • Jun 14, 2012 1:35am Jun 14, 2012 1:35am
guys...

want to ask ur opinion...issit possible GU reach 1.5416?
seem 4h break treandline
Attached Image (click to enlarge)
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  • #316,298
  • Jun 14, 2012 1:52am Jun 14, 2012 1:52am
Quoting oldtbone
guys...

want to ask ur opinion...issit possible GU reach 1.5416?
seem 4h break treandline
im not surprised to see GBPUSD falling and EURUSD Flying.... and EURGBP Flying high... because Uk is on the verge of being downgraded and also on the verge of more easing....
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #316,299
  • Jun 14, 2012 1:52am Jun 14, 2012 1:52am
orite chaps?
Thank You
  • #316,300
  • Jun 14, 2012 1:53am Jun 14, 2012 1:53am
I swear we hit 1.49 this week I'm gonna go downtown & break it down .....
like this fella

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