Cable Update (GBPUSD) | Page 16650 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

GBP/USD

Similar Threads

Cable Update - Continued 118 replies

Cable Update (GBP/USD) without Idiots 25 replies

cable short for gbpusd? 10 replies

Why is GBPUSD called cable? 76 replies

Cable (GBPUSD) vs Euro (EURUSD) 31 replies

Attachments: Cable Update (GBPUSD)
Exit Attachments

Cable Update (GBPUSD)

  • #332,981
  • Jan 2, 2013 1:02am Jan 2, 2013 1:02am
Pending Order - SELL @ 1.6393 SL & TP will be determined once the order is triggered.
Numbers NEVER Lie
  • #332,982
  • Jan 2, 2013 1:06am Jan 2, 2013 1:06am
Quoting ZizoFX
Pending Order - SELL @ 1.6393 SL & TP will be determined once the order is triggered.
Should we take it down a bit @ around 16385 to ensure it will hit?

I am waiting for price action show in another hour before jump in for a short order if it comes

Happy new year to Zizo
  • #332,983
  • Edited 12:14pm Jan 2, 2013 6:02am | Edited 12:14pm
Quoting ForexRatVN
Should we take it down a bit @ around 16385 to ensure it will hit?

I am waiting for price action show in another hour before jump in for a short order if it comes

Happy new year to Zizo
I am thinking price will range for a while but given the strength of bulls, I placed that order at that zone only to reduce risk. I will see what PA does & might pull the trigger before it even gets there. We have 1.6343 & 1.6475 as resistance.

Happy New Year to you too Brother.
Numbers NEVER Lie
  • #332,984
  • Jan 2, 2013 8:41am Jan 2, 2013 8:41am
Quoting ZizoFX
I am thinking price will range for a while but given the strength of bulls, I placed that order at that zone only to reduce risk. I will see what PA does & might pull the trigger before it even gets there. We have 1.6343 & 1.6475 as resistance.

Happy New Year to you to Brother.
My view is same. The GU in the uptrend ranging. I did not jump in so far as the price action did not meet yet.

I will wait for a while, possibly @ 16450 area...

Good luck then
  • #332,985
  • Jan 2, 2013 8:46am Jan 2, 2013 8:46am
Quoting ForexRatVN
My view is same. The GU in the uptrend ranging. I did not jump in so far as the price action did not meet yet.

I will wait for a while, possibly @ 16450 area...

Good luck then
Here is the chart showing

Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd 4h tf 31 oct2012b.gif Size: 39 KB
  • #332,986
  • Jan 2, 2013 9:17am Jan 2, 2013 9:17am
Quoting ForexRatVN
My view is same. The GU in the uptrend ranging. I did not jump in so far as the price action did not meet yet.

I will wait for a while, possibly @ 16450 area...

Good luck then
Very good It is an Uptrend as you said. I am selling from that zone "1.6393" for about +150 pips only. The trade is not a profiting trade as it will be a hedge trade to cover longs and will release it if PA finds support around 1.6230 which still need to be tested. I will share a chart on that view later on.

Still Neutral on the Pound but if we close bullish this week then I have full confirmation to go long again & the said 1.6230 will be my first entry. Just my view.

GL bro
Numbers NEVER Lie
  • #332,987
  • Jan 2, 2013 10:55am Jan 2, 2013 10:55am
Absolutely beautiful pinbar forming on the daily chart. 1.63 is an area which GU struggles around generally, and today has shown a delicious rejection. Lets just hope it carries through to the end of the day, and that'll be a pretty powerful signal.
  • #332,988
  • Edited 11:04am Jan 2, 2013 10:55am | Edited 11:04am
Interesting situation right now with the move being almost completely retraced. I think that when our volume came back, so did our supply zone....wondering if a bunch of sell orders were re-positioned when brokers opened up. That said, technically the key resistance level was pierced and I'd be hesitant to sell here given that as well as the higher low from the previous attempt downward. On the other hand, the fiscal cliff was temporarily resolved, with dollar strength seen on all the big crosses. Best position may simply be to remain flat.

Quoting feelmypecs
Absolutely beautiful pinbar forming on the daily chart. 1.63 is an area which GU struggles around generally, and today has shown a delicious rejection. Lets just hope it carries through to the end of the day, and that'll be a pretty powerful signal.
The profit margin on this one is pretty low, at best slightly over 2:1.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.png Size: 54 KB
  • #332,989
  • Jan 2, 2013 12:44pm Jan 2, 2013 12:44pm
Quoting ZizoFX
Very good It is an Uptrend as you said. I am selling from that zone "1.6393" for about +150 pips only. The trade is not a profiting trade as it will be a hedge trade to cover longs and will release it if PA finds support around 1.6230 which still need to be tested. I will share a chart on that view later on.

Still Neutral on the Pound but if we close bullish this week then I have full confirmation to go long again & the said 1.6230 will be my first entry. Just my view.

GL bro
Now we are probably on the opposite positions if you are on the long side.

I shorted the cable from 16295 with TP 160 pips (opening price of 31st Dec) and SL 50 pips (today high level)

The trade is triggered by 1st reason of the price action and 2nd reason of failing from breaking the 2nd channel on my chart.

Let see how the 1st trade of the year is... with my fingers crossed...

Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd 4h tf 31 oct2012b.gif Size: 41 KB
  • #332,990
  • Jan 2, 2013 2:09pm Jan 2, 2013 2:09pm
Skipped out for 67 pips.

I'll put this market down as one of the strange ones.

Looking for more buying opportunities on the 1 hr.
Attached Image (click to enlarge)
Click to Enlarge Name: gu41.gif Size: 17 KB
Come with me if you want to live....
  • #332,991
  • Jan 2, 2013 3:13pm Jan 2, 2013 3:13pm
Quoting Silat50
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?????
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!!!?????
Hi Silat,

Sorry for not responding sooner. I was out of the office for the holidays and just saw your posts today. Just to clarify, FXCM is not trying to "halt trading" when you see the spreads widen. The reason for the wider spreads you noticed on the morning of December 26th is because of lower liquidity around the holidays. When fewer people are trading, banks will quote wider spreads to reflect the greater risk they take in offsetting orders around those times. On our No Dealing Desk (NDD) forex execution, we take best bid and ask prices we receive from our liquidity providers and pass those onto our clients with a pip markup. That means when bank spreads widen, so will ours. If you have any further questions about this, feel free to ask me in our discussion thread.

Happy New Year!

Jason
  • #332,992
  • Jan 2, 2013 3:27pm Jan 2, 2013 3:27pm
I see no evidence of that. My (currenex) broker is quoting cable with a 0.8 spread at the moment.....
  • #332,993
  • Jan 2, 2013 4:27pm Jan 2, 2013 4:27pm
Quoting ez0770
I see no evidence of that. My (currenex) broker is quoting cable with a 0.8 spread at the moment.....
time to realize fxcm are simply crooks....
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #332,994
  • Jan 2, 2013 4:33pm Jan 2, 2013 4:33pm
Quoting fxtyrant
time to realize fxcm are simply crooks....
I haven't had any problems with FXCM. Do you have some other reason for believing what you do? I know FXCM had some questionable management back around 5 years ago but at the moment things seem to be running about as smoothly as any other decent broker. As far as spread is concerned, they shouldn't have any incentive to do it one way or another with the no dealing desk execution system they have in place.

Quoting ez0770
I see no evidence of that. My (currenex) broker is quoting cable with a 0.8 spread at the moment.....
This was back around Christmas. Standard FXCM spreads for NDD are a pip or two higher than if you did the dealing desk execution, but that's no surprise.
  • #332,995
  • Jan 2, 2013 4:50pm Jan 2, 2013 4:50pm
You're right, I did not read the post properly, I thought they were referring to now, not the 26th. Apologies.
  • #332,996
  • Jan 2, 2013 4:53pm Jan 2, 2013 4:53pm
Quoting Kanzler
I haven't had any problems with FXCM. Do you have some other reason for believing what you do? I know FXCM had some questionable management back around 5 years ago but at the moment things seem to be running about as smoothly as any other decent broker. As far as spread is concerned, they shouldn't have any incentive to do it one way or another with the no dealing desk execution system they have in place.



This was back around Christmas. Standard FXCM spreads for NDD are a pip or two higher than if you did the dealing desk execution, but that's...
well ive used fxcm in the past infact it was their poor management 5 years ago and spread spikes that pissed me most, until i decided to move to a broker called ATC, which happened to be a White Label Broker of FXCM, how do i know? well ATC was using FXCM's price feed and heck order fill were horrendous.... not to mention the commission i was charged for entering a trade with those guys....
so yea i guess my ive had a bad experience with FXCM.... and no i wasnt using FXCM's standard service when i suffered, i was using FXCM's ECN spreads and very often i find ECN brokers much more crookish than fixed spread brokers..... yes they say they will have orders filled in their most competitive spread... but when market moved to trigger my spread..... a normally low spread they claim at 0.8 pip happend to had my order filled with 3full pip spread.... so it kinda pissed me of.... especially when some brokers had a fix spread of 2 pip on a EURUSD trade and filled without question at 2 pip no bullshit....
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #332,997
  • Jan 2, 2013 4:56pm Jan 2, 2013 4:56pm
Quoting fxtyrant
well ive used fxcm in the past infact it was their poor management 5 years ago and spread spikes that pissed me most, until i decided to move to a broker called ATC, which happened to be a White Label Broker of FXCM, how do i know? well ATC was using FXCM's price feed and heck order fill were horrendous.... not to mention the commission i was charged for entering a trade with those guys....
so yea i guess my ive had a bad experience with FXCM.... and no i wasnt using FXCM's standard service when i suffered, i was using FXCM's ECN spreads and very...
Fair enough, thanks for the feedback. Just wanted to get that clarified.
  • #332,998
  • Jan 2, 2013 5:13pm Jan 2, 2013 5:13pm
Quoting Kanzler
Fair enough, thanks for the feedback. Just wanted to get that clarified.
im not saying FXCM is bad broker, but there are certain conditions where some other brokers are just better adapted to.... high volatility times.... it seems that fixed pip brokers may be the best when Slippage being at par....
meaning if both ECN and Fixed spread broker have same slippage 24/7
during high volatility order filling advantage goes to the fixed spread brokers due to its spread not going above 2 pip for EURUSD for example while FXCM might spike to 5 pip during high volatility....
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #332,999
  • Jan 2, 2013 8:12pm Jan 2, 2013 8:12pm
I just want to say some posters commenting like
"if it breaks 63 we will see 67"
is typical mambo jumbo BS crap one is expected to read at FF.Worse traders actually believing shit like this and changing their trading decisions.
Do everyone a favor and stop projecting please.
In trading, you have to be defensive and aggressive at the same time
  • #333,000
  • Jan 2, 2013 8:39pm Jan 2, 2013 8:39pm
I've never seen a weekly candlestick structure like this before, it's weird.
Makes me wonder what timeframe I should be looking at.
Come with me if you want to live....
1,215 traders viewing now