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Cable Update (GBP/USD) without Idiots 25 replies

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Cable Update (GBPUSD)

Quoting nAVIN2007
i guess so..but i think its about find the probable direction..they arent equally weighted i dont think..but i get the jist of what yur saying and theres a part of me which agrees but im not completely comfortable with it

i dont like gambling..rolf

Any decision you make that your not certain of has some degree of guess work in it, i think it is the degree of guessing that makes it a firm or weak trade.
Money never sleeps...
Quoting wormboy
It's been bullish for over a month now red, not just yesterday. And I honestly see cable testing 1.6020/50 before stalling. Here's a chart, before & after
I consider it range since 14th of june till yesterday break of 1.5778.

yesterday FOMC triggered the break and no continuation of range

some see trendlines some see other indies but what I know is that news get us all the time.the only prob is when traders get cocky about it.

anyway I said something about examples in the last post

I will say-Moody's downgrade for 30 min then denial soon after that.price up and down.

Draghi-price farts up then comes down next week.

did anybody expect such a move ? guess only the insiders

is UK that strong ? let's not forget that BOE now is a bit scared GBP is to strong so QE is in sight.

so in such a highly politicized market we are trading we cannot say ''why are you short when all signs point long''

there are no signs.news hit in whatever direction they want.

I am pissed as my long UCAD was stopped @ +20 pips soon to recover it's way up

same with AUD on shorts.

GU don't care that much as per posted chart I covered the SL ate by the FOMC

if GU will drop now before 1.62 I'll piss myself laughing at all the longsters...but then again it depends on the TF they are looking at .


I am long in long term and all know my TP

but I scalp in both directions for a living

anyway moves like this give me more and more conviction to hold trades only till news and nothing more.
Quoting ovaforty
New home sales, and house price index beat expectations.
Investors are buying real estate here in the u.s. at bargain prices.

3 houses in my street (Las Vegas) sold within days of going on the market just this last week.
Money never sleeps...
Quoting nAVIN2007
which currency pair i will post a chart for yah..on fb
the one illogical pair at the moment.... USDJPY...

seriousl if its really risk on as eurusd gbpusd, audusd all shot up after ben announces QE "SOON" when the fuck is Soon gona be??
talk about shady fucking central bankers....
and people already pricing in QE as if its a done deal....
thats fine by me... thank god my short signals never got the chance to trigger... but what baffles me...

Risk off, short USDJPY... logical move i suggest...
Risk on, Short USDJPY... da fuq?
We live in a finite world with infinite possibilities.
Quoting bguguen
the one illogical pair at the moment.... USDJPY...

seriousl if its really risk on as eurusd gbpusd, audusd all shot up after ben announces QE "SOON" when the fuck is Soon gona be??
talk about shady fucking central bankers....
and people already pricing in QE as if its a done deal....
thats fine by me... thank god my short signals never got the chance to trigger... but what baffles me...

Risk off, short USDJPY... logical move i suggest...
Risk on, Short USDJPY... da fuq?

It is usd weakness.
The markets are trying to force QE 3 in Sept.
QE = dollar weakness.
Whilst 1hr and 4hr are undoubtedly in technical opa uptrends, and daily is more bullish than bearish presently with upside break and close above it's recent 5774 range hi, the weekly remains in an overall price action (opa) range, and this range within an opa monthly range. Sub 4hr is where all the action has been for a few months now.

G/L
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ex member
15 min chart shows a spike up on u.s. home sales news.

Halfway through last hour of Frankfort shows no bailing on long positions, at this point.
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Intraday - price remains off the 5909 hi and between Daily Pivot and Daily R1 - neither bothered so far by PA. 61.8% of the 6300-5267 move @/around the current hi.

G/L
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ex member
Quoting bbmac
Whilst 1hr and 4hr are undoubtedly in technical opa uptrends, and daily is more bullish than bearish presently with upside break and close above it's recent 5774 range hi, the weekly remains in an overall price action (opa) range, and this range within an opa monthly range. Sub 4hr is where all the action has been for a few months now.

G/L
Good to see ya posting here.

Well said.
The recent pricing in of QE3 is in my opinion far too strong,

i have listened/read pretty much everything i could over the last few months on this and in particular anything from Bernanke.

He tried to play down the effectiveness of QE regularly and without ruling it out he was quick to outline its increasing limitations.

Yesterdays statement was very well worded to sound bullish but the key part was the 'when needed', any further strong US data over the next weeks will see a sharp reaction as the hopium fades.

Until then we obviously have some long opportunities but capped at 1.60.

Europe is going backwards, the UK is trying but fighting an uphill battle, the US whilst slow is seeing growth and i can not imagine cable being over 1.60 for too long (if it gets there).

Now i have had to load up my account with more capital but im in this for the long haul,

Short on any positive US data in terms of housing, employment and GDP. Will fade the hopium and reality will set in.
Money never sleeps...
Quoting inpatient
The recent pricing in of QE3 is in my opinion far too strong,

i have listened/read pretty much everything i could over the last few months on this and in particular anything from Bernanke.

He tried to play down the effectiveness of QE regularly and without ruling it out he was quick to outline its increasing limitations.

Yesterdays statement was very well worded to sound bullish but the key part was the 'when needed', any further strong US data over the next month will see a sharp reaction as the hopium fades.

Until then we obviously have...
Well said...

But timing is the key.
Wrong time = loss
Right time = gain.

The question is WHEN?
Friday, Spain is expected to ask for help from ECB. The market is driving up prices since the Draghi statement and will move on whether or not the ECB comes through.

Disappointment will tank the eur and gbp.

Think Bigger Picture
Quoting TauTrader
Good day to you,

Was up in Gauteng for 2 days. Funeral of one of my best friends. Died in a motorcycle accident. He was 37 years old...

Anyway..

Got my ass handed to me on GU shorts. ( see previous posts). SL taken on all. Read through the thread now. Will ignore the BS.

Just one thing.. I was wrong in stabbing at people long at the time. That is obvious. So for that, I have to apologize.Just getting back into things here... I see 1.5840 as a possible target. Could even become 1.5810.

Short from 1.5900 this morning.

All the best to you

Regards...
Tragic to happen at any age nevemind so young, sorry to hear this sad news.

I don't see much down movement other than a pullback similar to the area you mentioned. In fact 1.58 breakout was very explosive and I would like to see a retest but it could be some time coming.

Good to keep an open mind on long/shorts especially in here!

There used to be a trader by the name of Stocky Monk posting here a year or so back, he opened my eyes to some new concepts, especially of single prints getting filled. One of his posts below.. Would like to see him back and also would assume the breakout from 1.58 area could be a similar case

http://www.forexfactory.com/showthre...59#post4123659
#
Here is my short-medium term view of a 4h zoomed out chart to see the demand/supply zones.

Would like to see a pullback to point A, then test and break through point B and final TP at point C. Will be glad to see other's insights of similar timeframe.
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Quoting TauTrader
Good day to you,

Was up in Gauteng for 2 days. Funeral of one of my best friends. Died in a motorcycle accident. He was 37 years old...

Anyway..

Got my ass handed to me on GU shorts. ( see previous posts). SL taken on all. Read through the thread now. Will ignore the BS.

Just one thing.. I was wrong in stabbing at people long at the time. That is obvious. So for that, I have to apologize.Just getting back into things here... I see 1.5840 as a possible target. Could even become 1.5810.

Short from 1.5900 this morning.

All the best to you

Regards...
Sorry to hear about your friend - very tragic. LIfe is short and we sometimes get so caught up in our own "stuff" that we miss that fact.

I too am also sorry for my actions and comments in this thread that have obviously brought the professionalism of this thread lower.

I am taking a break from here to focus on my own trading and personal well being.

Life is short - lets not waste it fighting.

Faller.
I don't trust any move - when you have profit...take it.
here is mine.... hehehe

KG
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Quoting Kang_Gun
here is mine.... hehehe

KG

Kang, how do you get that bottom chart showing volumes at certain prices?

Awesome charts
Money never sleeps...
Quoting inpatient
Kang, how do you get that bottom chart showing volumes at certain prices?

Awesome charts
http://www.forexfactory.com/showthre...54#post4516254

post 1480

regards,

KG
Scalping 5min while I kept my major shorts.
My set up http://www.forexfactory.com/showthread.php?t=359188
Giving this a try.Very pleased so far
dotted line is basically 50MA works real well in longer TF.I just like how obvious trades are.for 6hrs 3:30 and 9:30 am PA was below red line hence scalp in and out.
http://www.forexfactory.com/attachme...2&d=1345736661
In trading, you have to be defensive and aggressive at the same time
Quoting Faller
Sorry to hear about your friend - very tragic. LIfe is short and we sometimes get so caught up in our own "stuff" that we miss that fact.

I too am also sorry for my actions and comments in this thread that have obviously brought the professionalism of this thread lower.

I am taking a break from here to focus on my own trading and personal well being.

Life is short - lets not waste it fighting.

Faller.
good day to you, sir

BIG of you.

You are so right. Standing next to the grave of a friend taken so young, makes you think about a lot of things...

We sometimes need to stop and reflect. Be grateful for the small gifts received. Smile more. Encourage more. Give more. Be more patient. Be more aware.

Just be. Be more.

I wish you wealth, health and good fortune.

Good man

Regards
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