i think we are going a lot further down m8..
I still think we will turn in this area... I have 1.6012 as the possible low for today!
I think the drop just after 1 was to suck in some sellers for a trap...
Of course, I could be completely wrong
Cable Update (GBPUSD)
- #326,101
- Oct 8, 2012 5:10am Oct 8, 2012 5:10am
- Joined Feb 2010 | Status: Inactive | 6,482 Posts
I still think we will turn in this area... I have 1.6012 as the possible low for today!
I think the drop just after 1 was to suck in some sellers for a trap...
Of course, I could be completely wrong
- #326,102
- Oct 8, 2012 5:13am Oct 8, 2012 5:13am
- | Commercial User | Joined Feb 2010 | 2,739 Posts
I just feel like 1.6080 as second TP and 1.6026 as last TP...dunno why
now 1.6080 should be in play ..for the long scalper out there
- #326,104
- Oct 8, 2012 5:16am Oct 8, 2012 5:16am
- Joined Dec 2007 | Status: mac daddy junior :) | 20,899 Posts
done
now 1.6080 should be in play ..for the long scalper out there
i doubt it man..but if it happens..i will be sure u are crystal meg
like u say when the mof has a time target we need to drop quick!!
- #326,105
- Oct 8, 2012 5:20am Oct 8, 2012 5:20am
- Joined Jan 2010 | Status: Trader | 10,268 Posts
remember when all shout short and all see collapse it is the best time to buy
this thing has potential to go down to 1.57 and beyond....
watch yourself.... BTW why do you think everyone is short GBPUSD??
Retail Net short positions are being trimed or Long Positions are increasing, thats bearish buddy..... cuz (95%, the losing % of traders are Longing now, thinking they hit the bottom)
use this chart and you'll see where you're wrong
http://fxtrade.oanda.co.uk/analysis/...ical-positions
Please have a look and you will see between the relationship between Retail positions and the GBPUSD price movements... you'll see theres a negative correlation, when SHorts are trimmed and Longs are increasing, that is sign of GBPUSD falling and vice versa
We live in a finite world with infinite possibilities.
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- #326,106
- Oct 8, 2012 5:21am Oct 8, 2012 5:21am
- | Commercial User | Joined Feb 2010 | 2,739 Posts
i doubt it man..but if it happens..i will be sure u are crystal meg
like u say when the mof has a time target we need to drop quick!!
I don't have confirmation yet
I am long on EU though from 1.2940 where I have confirmation on long
- #326,107
- Oct 8, 2012 5:25am Oct 8, 2012 5:25am
- Joined Dec 2007 | Status: mac daddy junior :) | 20,899 Posts
dunno I'm flat on this one as I reached last TP on shorts..did not close as I trail and locked @ 6054 so far (oh how I pitty the poor bulls targeting 6350) but as per calculations it should bounce now for some 50 pips
I don't have confirmation yet
I am long on EU though from 1.2940 where I have confirmation on long
- #326,108
- Oct 8, 2012 5:28am Oct 8, 2012 5:28am
- | Commercial User | Joined Feb 2010 | 2,739 Posts
Not when you have a range from 1.63 to 1.52.....
this thing has potential to go down to 1.57 and beyond....
watch yourself.... BTW why do you think everyone is short GBPUSD??
Retail Net short positions are being trimed or Long Positions are increasing, thats bearish buddy.....
use this chart and you'll see where you're wrong
http://fxtrade.oanda.co.uk/analysis/...ical-positions
Please have a look and you will see between the relationship between Retail positions and the GBPUSD price movements... you'll see theres a negative...
one thing only...I am short biased on GU since end of sept....if you scroll on my posts that far back and my last TP is 1.5394
(again the targets are posted)for now I just want 1.5900 till the end of the week just to have it in my calculations(at the end of sept I stated 10-15 trading days as max to reach 1.5900 to confirm lower levels)
if that is confirmed this week....well we either bounce there or go 1.5650 area as tp2
last one you know it already 5394
BUT,this is long term trade.
in between....you know me,I scalp the sh*** out of this
...so long for me it is.we need to retest some levels to go further down and the down will be brutal....I have confirmations already - #326,109
- Oct 8, 2012 5:31am Oct 8, 2012 5:31am
- | Commercial User | Joined Feb 2010 | 2,739 Posts
i dont like my euro trade one bit..but it might and i pray it is forming a flag as worst case scenero..i finally done a reckless trade
but I do know that I have 25 pips scaled out on EU
as TP on the up move....1.3004 is the first decent one and that one should hold but who knows,we're in news zone now
- #326,111
- Oct 8, 2012 5:39am Oct 8, 2012 5:39am
- Joined Jan 2010 | Status: Trader | 10,268 Posts
no way matey,I am never wrong ....ok ok maybe sometimes but I quit drinking this weekend
one thing only...I am short biased on GU since end of sept....if you scroll on my posts that far back and my last TP is 1.5394
for now I just want 1.5900 till the end of the week just to have it in my calculations(at the end of sept I stated 10-15 trading days as max to reach 1.5900 to confirm lower levels)
if that is confirmed this week....well we either bounce there or go 1.5650 area as tp2
last one you know...
Navin can vouch for me on that buddy...
imagine the heat i had.... anyways green pips to you and be careful..... i dont want to be long right now especially when the retail short positions are being trimmed.... retail traders are falling in the trap and they are longing it, i on the other hand will stick to the 4.9999% making shit loads of money shorting this...
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return:
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- #326,112
- Oct 8, 2012 5:41am Oct 8, 2012 5:41am
- Joined Dec 2007 | Status: mac daddy junior :) | 20,899 Posts
I don't know what a flag is
but I do know that I have 25 pips scaled out on EU
as TP on the up move....1.3004 is the first decent one and that one should hold but who knows,we're in news zone now
u might not know a flag..but when u trading like u..dont need to know either
- #326,113
- Oct 8, 2012 5:46am Oct 8, 2012 5:46am
- | Commercial User | Joined Feb 2010 | 2,739 Posts
But then i've been a huge bears since June, saying we will retest 1.52 again... and that i have a year end projections of 1.50 on GBPUSD....
Navin can vouch for me on that buddy...
imagine the heat i had.... anyways green pips to you and be careful..... i dont want to be long right now especially when the retail short positions are being trimmed.... retail traders are falling in the trap and they are longing it, i on the other hand will stick to the 4.9999% making shit loads of money shorting this...
actually I'm short on all pairs as the whole world is fu*** up with no signs of recovery...ever
1.5394 should hold on first touch and bounce back up
I do not look at the positions to be honest as they never tell me any truth....
if you have 100 retailers or corps in the whole market and 99 of them are short still means sh** to me as the 99 could have only 1 usd each and the 1 left long could have 1mil .....so still nothing new here
I will never ever belive in any reports..it's way to easy this way...all should win.
I just follow rules and calculations and never stick to a trade too long.I will never have the heat of a 100-200 pips DD anymore.it is not for me.I prefer a good night sleep and to be honest I prefer to trade from 9-noon and nothing more.
- #326,114
- Oct 8, 2012 5:53am Oct 8, 2012 5:53am
- Joined Dec 2007 | Status: mac daddy junior :) | 20,899 Posts
I will never have the heat of a 100-200 pips DD anymore.it is not for me.I prefer a good night sleep and to be honest I prefer to trade from 9-noon and nothing more.
it funny i have more stress trying to trade this way
friggin pity
- #326,115
- Oct 8, 2012 6:00am Oct 8, 2012 6:00am
- Joined Jan 2010 | Status: Trader | 10,268 Posts
I'm always short on GU and EU =)))))))))
actually I'm short on all pairs as the whole world is fu*** up with no signs of recovery...ever
1.5394 should hold on first touch and bounce back up
I do not look at the positions to be honest as they never tell me any truth....
if you have 100 retailers or corps in the whole market and 99 of them are short still means sh** to me as the 99 could have only 1 usd each and the 1 left long could have 1mil .....so still nothing new here
I will never ever belive in any reports..it's way...
works 99.9%
REGARDLESS of the tradesize involved.... you strip away the size and you'll know the attitude of the market....Oanda's market depth chart however would show you what the big boys are actually doing.... but thats for your taste if you can read them
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return:
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- #326,116
- Oct 8, 2012 6:12am Oct 8, 2012 6:12am
- | Commercial User | Joined Feb 2010 | 2,739 Posts
Well Thats where the market depth comes in.... look at oanda and they show you where the big orders are as well.... anyways oanda gave me some pretty good tools and that last one i gave you... nice to see GBPUSD going down when trade sentiment is saying ppl are longing...
works 99.9%
Oanda's market depth chart however would show you what the big boys are actually doing.... but thats for your taste if you can read them
I don't know how can one big player be that stupid to post entries anywhere online...it makes no sense
for example I am Marta Washington shark and I have a pending buy on GU @ 1.6026 of 100 mil leveraged 1:50
would I put it there ? online ? and why would I do that ?
there are 2 reasons for me NOT to do that :
1-maybe a bigger shark than me with 200 mil leveraged 1:200 will drop market till my entry,trigger my entryand eat my SL ....there is always a bigger fish in the pond
2-why don't I keep my mouth shut and just slam all small retailers on the go...they won't even know what hit them
but sharks in the market don't exist.sharks are only people like me,vicious,jumpy and fast,going in for the kill no sneak no stalk no nothing.
the sharks we all think and refer as big banks are more of an angler fish that attract the small retailers or beheaded corps to the so called ''sure deal public trades'' and they slam them either before or after....no mercy
I will never ever trust any public info in regards trades....nor state of economy(like S&P or Moody's) as long as pockets in the world are deep and hungry
we all are human beings,we all have needs....would you as Oanda worker resist a temptation of 5 k just for publishing one info ?
If your eyes sounded caching then I made my point
- #326,117
- Oct 8, 2012 6:23am Oct 8, 2012 6:23am
- Joined Jan 2010 | Status: Trader | 10,268 Posts
I think I had same argument with one trader last week.
I don't know how can one big player be that stupid to post entries anywhere online...it makes no sense
for example I am Marta Washington shark and I have a pending buy on GU @ 1.6026 of 100 mil leveraged 1:50
would I put it there ? online ? and why would I do that ?
there are 2 reasons for me NOT to do that :
1-maybe a bigger shark than me with 200 mil leveraged 1:200 will drop market till my entry,trigger my entryand eat my SL ....there is always a bigger fish in the pond
2-why...
YOu can be a big shark bank and you can only hide a certain amount of information from the public... but rules are rules and when rules are broken you get penalised.
hence the reason why COT reports are there to help us traders, however its a whole different matter trying to understand these information...
Now as to the Sharks... you better trust their existence.. Ben bernanke and the foks at goldman sachs and jp morgan, huge inside trading this forex market as opposed to trading equities... why? because they know in a currency market you can trade it with anonymity while equities market when you buy a company's shares you actually own part of the company....
im not trying to brag but my summer internship at a financial institution has opened my eyes up a bit, the traders in banks especially those in the money markets are huge inside traders.... they call their partners in other bank to move the currency market up and down as they please... because they simply are big and they can price it wherever they want! we're talking about the forex market being a Monopoly/oligopoly model here.... they will work together in order to bring the best benefit instead of going against them..... heard of game theory? exists very much in the real world and you'd be smart not to deny it.
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return:
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- #326,118
- Oct 8, 2012 6:24am Oct 8, 2012 6:24am
- | Commercial User | Joined Feb 2010 | 2,739 Posts
6036-6042-6047 ?????
happy to have 20 pips on buy sad to SL my shorts
- #326,119
- Oct 8, 2012 6:37am Oct 8, 2012 6:37am
- | Commercial User | Joined Feb 2010 | 2,739 Posts
Well i have to admit you are right abouot the whole not trusting too much on Oanda... HOWEVER.... Commitment of Trade Reports are legitimate volumes of trade in the currency market, and it is by LAW that those reports are verified, it is regulated and the information has to come in... HOWEVER they do preserve anonymity as to who is behind the BIG order, or if that BIG Order is a one big
YOu can be a big shark bank and you can only hide a certain amount of information from the public... [color="red"][size="6"]but rules...
when a worlds financial device is sold out what can I say about regulations applied on shi*** dummy pending orders...
or should I say more about interventions and inside trades? or Lehman brothers ?
or what bailouts mean ? as in paying for the uncovered debts of bankrupted banks that shouldn't have ever been bankrupted as they were regulated by the governments ???????
should I say that none of the ones in charge of the mess were ever legally punished ????
but it makes no point in this discussion,the main topic was that nobody cares.they hide behind a legal regulation but the laws are made by pockets not by lawmakers
one day,when I'll be a finance minister and you will be a banker and pay me 20k I will come on a tv station and just declare my currency is damaged
market will crash,I will get my money,you will make millions and in 20 min I will say ''currency is damaged and worn out and we will change it with new bills while we destroy the old ones''
so no depreciation but who cares...money is money
- #326,120
- Oct 8, 2012 6:48am Oct 8, 2012 6:48am
- Joined Jan 2010 | Status: Trader | 10,268 Posts
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return:
0.7%