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Cable Update (GBPUSD)

  • #331,441
  • Dec 3, 2012 7:10am Dec 3, 2012 7:10am
our prayers weren't heard
the «risk management» forced me to close my shorts manually
after all we will go down, but not today and tomorrow and possibly from 1,6100
  • #331,442
  • Dec 3, 2012 7:11am Dec 3, 2012 7:11am
Quoting fxtyrant
Hey folks, just wanted to share with you a trade that took profit today based on my trade strategy ive been studying for...

here it is... its a Long EURCHF at 1.2044 for TP at 1.2070 (EMA200)
reason behind my entry..... because EMA55 (Blue LIne) was below EMA 200 (Red Line), and that a bullish divergence occured as seen on the RSI chart...
when a bullish divergence occured on the close of the daily candle... i immediately enterd the trade long eurchf (at 1.2044)
today the strategy took profit.
I also have short NZDJPY trades based on the strategy...
well done!!
IMO the Ech next year will print >1.2400
90% of traders use TA, indicators and prediction
  • #331,443
  • Dec 3, 2012 7:16am Dec 3, 2012 7:16am
Good day,

Semi off topic..

I still have the 1.2910 number waiting on EU - so we are now 150 pips above...

I'm not too sure how long this bull rally will continue.. All signals still up, but I have to start looking at the above number with more interest. Could go another 100 or 200 pips - I understand that risk.. but I want to be in this one as it unfolds. So - first stab short taken here @ 1.3060. Next short to go in @ 1.3110 and final short @ 1.3160.

It may suggest that GU will also be following - if correlated.. so I do not see us going too high before we retrace substantially.

I will thus not be posting too much as I position and ride it out.

Regards
  • #331,444
  • Dec 3, 2012 7:27am Dec 3, 2012 7:27am
Quoting TauTrader
Good day,

Semi off topic..

I still have the 1.2910 number waiting on EU - so we are now 150 pips above...

I'm not too sure how long this bull rally will continue.. All signals still up, but I have to start looking at the above number with more interest. Could go another 100 or 200 pips - I understand that risk.. but I want to be in this one as it unfolds. So - first stab short taken here @ 1.3060. Next short to go in @ 1.3110 and final short @ 1.3160.

It may suggest that GU will also be following - if correlated.. so I do not see us going too...
good day mrTAu,
same levels here. im still out of EU scared about possible spikes....
hopefully tomorrow things will be bit more clear on the pair
90% of traders use TA, indicators and prediction
  • #331,445
  • Dec 3, 2012 7:27am Dec 3, 2012 7:27am
Quoting iqyu5an
http://www.forexfactory.com/attachme...1&d=1354529846

who spoiled such beautiful pattern?
  • #331,446
  • Dec 3, 2012 7:32am Dec 3, 2012 7:32am
Quoting _BBKing_
good day mrTAu,
same levels here. im still out of EU scared about possible spikes....
hopefully tomorrow things will be bit more clear on the pair
Hey, BB

Yip - always the possibility of a further run to unknown levels - but I have a target (1.2910) and that is a start...

So - patiently pacing entries to hopefully knock the socks off..

It will probably be my final longer term trade for the year.

All the best.

Regards
  • #331,447
  • Dec 3, 2012 8:02am Dec 3, 2012 8:02am
imo, next resistance for today 1,6100
  • #331,448
  • Dec 3, 2012 8:35am Dec 3, 2012 8:35am
Holy shit am i reading this right? SNB to announce negative interest rates by december 10?!
i swear to god the swiss are really gutsy, those guys got balls! and i love it...
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #331,449
  • Dec 3, 2012 8:50am Dec 3, 2012 8:50am
A chart that might inspire some ideas?? my advise... still not time to go long unless daily closes above that white downtrend line we are testing atm...
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd daily.gif Size: 23 KB
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #331,450
  • Dec 3, 2012 9:04am Dec 3, 2012 9:04am
Quoting fxtyrant
A chart that might inspire some ideas?? my advise... still not time to go long unless daily closes above that white downtrend line we are testing atm...
Attachment

So if daily closes above that trendline, then long upto 160?
  • #331,451
  • Dec 3, 2012 9:17am Dec 3, 2012 9:17am
Good day fellow traders,

I only trade the cable. The W1 is showing some strength in breaking the retracement trend we have been capped in for two months now. The bearish doji bullish candle suggests reversal. If we remove the bearish doji from the pattern, we will still have a bullish engulfer. We now await a breakout candle from the retracement trend. Cable showing some positive signs of doing just that. Not too good with Numbers
Attached Image (click to enlarge)
Click to Enlarge Name: W1GU.png Size: 44 KB
Numbers NEVER Lie
  • #331,452
  • Dec 3, 2012 9:23am Dec 3, 2012 9:23am
Here is the H4 chart. I was anticipating a weekly close above 1.6168 last week but i guess i was dreaming. I'm still holding longs.

GL
Attached Image (click to enlarge)
Click to Enlarge Name: H4GU3.png Size: 42 KB
Numbers NEVER Lie
  • #331,453
  • Dec 3, 2012 9:24am Dec 3, 2012 9:24am
Quoting alex1976
So if daily closes above that trendline, then long upto 160?
No.... if we close above that trendline, Long on a RETEST of that trendline if you know what i mean. to be a confirmed up move, we need that trendline to break and closed above.... then the entry will happen when you LONG at a retest of a broken trendline
That is one way to trade, but still not my favorite opportunity to do anything because this this long isnt sustainable.... EMA55 is still above EMA 200 and this SHOULD mean i would be still looking to short the GBPUSD.... but this could mean the signal will happen at 1.63 or sth....
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #331,454
  • Dec 3, 2012 9:36am Dec 3, 2012 9:36am
Looks more like sell till 1.6040 and then buy.
prepare for worst & expect the best
  • #331,455
  • Dec 3, 2012 10:04am Dec 3, 2012 10:04am
Quoting fxtyrant
No.... if we close above that trendline, Long on a RETEST of that trendline if you know what i mean. to be a confirmed up move, we need that trendline to break and closed above.... then the entry will happen when you LONG at a retest of a broken trendline
That is one way to trade, but still not my favorite opportunity to do anything because this this long isnt sustainable.... EMA55 is still above EMA 200 and this SHOULD mean i would be still looking to short the GBPUSD.... but this could mean the signal will happen at 1.63 or sth....

Tyrant, looks like its breaking it now brother...
  • #331,456
  • Dec 3, 2012 10:09am Dec 3, 2012 10:09am
Quoting fxtyrant
A chart that might inspire some ideas?? my advise... still not time to go long unless daily closes above that white downtrend line we are testing atm...
Attachment
hi mate,

i'm waiting to go long on a retest of 6040-50 area.. i think bears has died.. lol.

I think best strategy for mid term trade right now is to buy dip.. imho.
  • #331,457
  • Dec 3, 2012 10:36am Dec 3, 2012 10:36am
I have to acknowledge and vouch for Navin for foreseeing the 1.61 region about 2 weeks ago!! Back then almost _everyone_ was thinking its was bear season. I guess the only one who noticed that bears hibernate in the winter time was Navin.
I still need a trading break soon!!! "Loose some to win more" --Baher A.
  • #331,458
  • Dec 3, 2012 10:43am Dec 3, 2012 10:43am
Quoting alex1976
Tyrant, looks like its breaking it now brother...
Indeed now it does look like the daily candle may close broken and above that downtrend..... but BECAREFUL!!!! for a confirm to LONG you need to look into tomorrow... Tomorrow is key why? well we have news form UK
and technical wise... IF GBPUSD closes today above and broken, it still has tomorrow to get Back under that trendline...

so heres 2 scenario....

scenario 1
if tomorrow we get a retest and a confirmed bounce off that trendlien then yes its good time to long....

scenario 2
If tomorrow we get a retest yet however, by close of tomorrow's candle we manage to get BACK below that downtrend... then it means the Move above today was a fakeout... also known as a bull trap... so DO BECAREFUL!!!

ive seen many times that GBPUSD drifted beyond a trendline only to have the next day candle to plow its way back below the trendline and continue bearish.....
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #331,459
  • Dec 3, 2012 10:43am Dec 3, 2012 10:43am
Quoting baherhosni
I have to acknowledge and vouch for Navin for foreseeing the 1.61 region about 2 weeks ago!! Back then almost _everyone_ was thinking its was bear season. I guess the only one who noticed that bears hibernate in the winter time was Navin.
Mr.B -

Good. But not so fast..

EU may block this progress for a 150 pip tumble...

Regards
  • #331,460
  • Dec 3, 2012 10:44am Dec 3, 2012 10:44am
Quoting fxtyrant
Indeed now it does look like the daily candle may close broken and above that downtrend..... but BECAREFUL!!!! for a confirm to LONG you need to look into tomorrow... Tomorrow is key why? well we have news form UK
and technical wise... IF GBPUSD closes today above and broken, it still has tomorrow to get Back under that trendline...

so heres 2 scenario....

scenario 1
if tomorrow we get a retest and a confirmed bounce off that trendlien then yes its good time to long....

scenario 2
If tomorrow we get a retest yet however, by close of tomorrow's...
okay i'll show you what i mean....
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
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