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Cable Update (GBPUSD)

  • #332,841
  • Dec 26, 2012 1:12am Dec 26, 2012 1:12am
GBP/USD spread over 10 pips! on FXCM. Other pairs seem insane too with majors up to 11 pips! Right now Usd/cad is at 12 pip spread. Whats going on?????
  • #332,842
  • Dec 26, 2012 1:14am Dec 26, 2012 1:14am
There is some wild stuff going on with the Cable over this holiday...
  • #332,843
  • Dec 26, 2012 1:17am Dec 26, 2012 1:17am
easy, the big boys just don't allow you to trade.
  • #332,844
  • Dec 26, 2012 1:36am Dec 26, 2012 1:36am
Now the GBP/CAD IS 18.7 PIP SPREAD. And the gbp/usd is 11.5 The others are out of whack too but all gbp pairs are crazy. You guys know what this is dont you. Its FXCM 's way of halting trading. They dont want anyone taking a position off of their behind. Wow, I wonder what we will find out this morning at 9. And whats weird is only this hours volume bar is way up, but price isnt really going anywhere. Why are they trying to halt trading when price is not moving much but volume is so high. Who the hell is paying this spread!!!?????
  • #332,845
  • Dec 26, 2012 1:49am Dec 26, 2012 1:49am
Quoting Silat50
Now the GBP/CAD IS 18.7 PIP SPREAD. And the gbp/usd is 11.5 The others are out of whack too but all gbp pairs are crazy. You guys know what this is dont you. Its FXCM 's way of halting trading. They dont want anyone taking a position off of their behind. Wow, I wonder what we will find out this morning at 9. And whats weird is only this hours volume bar is way up, but price isnt really going anywhere. Why are they trying to halt trading when price is not moving much but volume is so high. Who the hell is paying this spread!!!?????
spread is stabilizing
2.5 now at MBtrading
Cable is acting strange.Overall sentiment is down it seems.I am just waiting good spot to short.
In trading, you have to be defensive and aggressive at the same time
  • #332,846
  • Dec 26, 2012 3:11am Dec 26, 2012 3:11am
Hello Everyone,

Merry X - Mas and a happy new year

Long may be a call at this level.
Attached Image (click to enlarge)
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  • #332,847
  • Dec 26, 2012 8:37am Dec 26, 2012 8:37am
Took the minor Divergence - so far well - target is 1.62000 (MIT is 1.61950) - need 1.61500 to break

http://i.imgur.com/W51w2.png
  • #332,848
  • Dec 26, 2012 9:29am Dec 26, 2012 9:29am
Quoting Compulsive
Took the minor Divergence - so far well - target is 1.62000 (MIT is 1.61950) - need 1.61500 to break

http://i.imgur.com/W51w2.png
SL 1.61495
  • #332,849
  • Dec 27, 2012 12:03am Dec 27, 2012 12:03am
Still maintain Bearish bias for Cable as I let the charts speak for themselves.

Updated Weekly, Daily, and H4 Charts
Attached Image(s) (click to enlarge)
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  • #332,850
  • Dec 27, 2012 12:44am Dec 27, 2012 12:44am
Quoting 100PipsADay
Still maintain Bearish bias for Cable as I let the charts speak for themselves.

Updated Weekly, Daily, and H4 Charts
I am holding a small short position. However, I do not believe on the low volume trade these days... I am not surprise if market turn against my position any time.

Any way, enjoy the festive season with any pips you can gasp...

Good luck to all members
  • #332,851
  • Dec 27, 2012 1:03am Dec 27, 2012 1:03am
Quoting ForexRatVN
I am holding a small short position. However, I do not believe on the low volume trade these days... I am not surprise if market turn against my position any time.

Any way, enjoy the festive season with any pips you can gasp...

Good luck to all members
Price Action and Support / Resistance is still in play regardless of how much Volume is there. I was able to bank 4,200 pips on multiple pairs in the past 38 days using my strategy

Good luck to you as well ForexRat!
  • #332,852
  • Dec 27, 2012 1:05am Dec 27, 2012 1:05am
Quoting 100PipsADay
Price Action and Support / Resistance is still in play regardless of how much Volume is there. I was able to bank 4,200 pips on multiple pairs in the past 38 days using my strategy

Good luck to you as well ForexRat!
That's a very well done
  • #332,853
  • Dec 27, 2012 1:12am Dec 27, 2012 1:12am
Quoting ForexRatVN
That's a very well done
Thanks ForexRat!
  • #332,854
  • Edited 2:49am Dec 27, 2012 2:39am | Edited 2:49am
Quoting 100PipsADay
Still maintain Bearish bias for Cable as I let the charts speak for themselves.

Updated Weekly, Daily, and H4 Charts
Maybe u will be surprised in coming days...GU is strengthening.
A lot of demand at resistance zones overhelming the supply. Watch out.
Low volume on down bars all to 4h TF. My view from 1.61XX min target is 1.63.
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  • #332,855
  • Dec 27, 2012 2:44am Dec 27, 2012 2:44am
Quoting sLOVEnia
Maybe u will be surprised in coming days...GU is strengthening.
A lot of demand at resistance zones overhelming the supply. Watch out.
Low volume on down bars all to 4h TF. My view from 1.61XX min target is 1.63.
1.63 hasn't been broken since August 2011, that is almost a year and a half... I wouldn't place that kind of bet not with last week's Shooting Star on the weekly right at major resistance and weekly TL.

My shorts are based off of Price Action at major Resistance aka PASR. I am patient as my trades will be held for probably a few weeks at least, probably longer.

Also, I wouldn't consider a 30 pip move in half a day "strengthening" just quite yet, there is still quite a bit of "today" left.

Just added another short @ 1.61501
  • #332,856
  • Dec 27, 2012 2:55am Dec 27, 2012 2:55am
Quoting 100PipsADay
1.63 hasn't been broken since August 2011, that is almost a year and a half... I wouldn't place that kind of bet not with last week's Shooting Star on the weekly right at major resistance and weekly TL.

My shorts are based off of Price Action at major Resistance aka PASR. I am patient as my trades will be held for probably a few weeks at least, probably longer.

Also, I wouldn't consider a 30 pip move in half a day "strengthening" just quite yet, there is still quite a bit of "today" left.

Just added another short @ 1.61501...
Didn't say you re not right. I look at my charts too and share my view. Maybe I'm really wrong but that is the way of learning more.
I understand your view and respect it.
  • #332,857
  • Dec 27, 2012 2:59am Dec 27, 2012 2:59am
Quoting sLOVEnia
Didn't say you re not right. I look at my charts too and share my view. Maybe I'm really wrong but that is the way of learning more.
I understand your view and respect it.
I understand, hope I didn't come across rude as that was not my intention. Best of luck sLOVEnia with your trades!
  • #332,858
  • Dec 27, 2012 3:40am Dec 27, 2012 3:40am
Quoting 100PipsADay
I understand, hope I didn't come across rude as that was not my intention. Best of luck sLOVEnia with your trades!
Best of luck to you too buddy.
Now 1.6164 -> break of 1.6170 brings 1.6200
  • #332,859
  • Dec 27, 2012 3:46am Dec 27, 2012 3:46am
Adding one more short at 1.61627. All positions have Stop Loss @ 1.63060 and Profit Target of 1.55
  • #332,860
  • Dec 27, 2012 3:51am Dec 27, 2012 3:51am
Quoting 100PipsADay
Adding one more short at 1.61627. All positions have Stop Loss @ 1.63060 and Profit Target of 1.55
It's a good RR in this range if it plays out.
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