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Cable Update (GBPUSD)

  • #334,361
  • Jan 21, 2013 1:07pm Jan 21, 2013 1:07pm
Good potential long possibly setting up here. If the structure here holds it provides a good risk reward for a retest to the TL. Still waiting for price behavior to confirm. Here is the daily chart and i'll be watching the 15m for the price behavior that I'm looking for. Good luck whatever direction your trade is in and green pips to all. Peace!!
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  • #334,362
  • Jan 21, 2013 1:42pm Jan 21, 2013 1:42pm
Quoting pabloski
Have you seen the weekly??
Yes. And this pair is now trading under the 200sma on every time frame except the 1 minute. Oooops! Every time frame.
Gone to a better place
  • #334,363
  • Jan 21, 2013 2:42pm Jan 21, 2013 2:42pm
Quoting Zircon
For you new traders, read before trading,
it is also good for experienced traders make some refresh.

Hey Mac Daddy Junior appreciate your vouch.

ahhhhh no worries bro..its a long time overdue..i was actually surprised i didnt vouch already
  • #334,364
  • Jan 21, 2013 3:54pm Jan 21, 2013 3:54pm
Nav I can't call it from here. Its right at support. Daily looks bearish, but that support could hold just the same.

wonder If im best sitting on my hands until tommorrow?
  • #334,365
  • Jan 21, 2013 3:57pm Jan 21, 2013 3:57pm
Quoting alex1976
Nav I can't call it from here. Its right at support. Daily looks bearish, but that support could hold just the same.

wonder If im best sitting on my hands until tommorrow?
yes u analysed it exactly how i see as well..i entered long but have no idea if its gonna hold too
  • #334,366
  • Jan 21, 2013 3:59pm Jan 21, 2013 3:59pm
Quoting nAVIN2007
yes u analysed it exactly how i see as well..i entered long but have no idea if its gonna hold too

exactly, I almost feel like if I take a trade here, its just a 50/50 shot, like roulette or something, lol
  • #334,367
  • Jan 21, 2013 5:51pm Jan 21, 2013 5:51pm
Quoting alex1976
Nav I can't call it from here. Its right at support. Daily looks bearish, but that support could hold just the same.

wonder If im best sitting on my hands until tommorrow?
i think that might work out, just don't overstay mate.. i'm still waiting at 5960 to trigger for short (for current perspective, will change my entry based on PA, maybe lowered to 5920).

atm, just trading the UJ, just added another short position to my yesterday position at 89.80 this morning.. couldn't find any pairs that fit my price for the time being. Looking closely to short on the aussie and kiwi at 0530 & 8390 since yesterday but price hasn't come close to my entry yet..
  • #334,368
  • Jan 21, 2013 6:07pm Jan 21, 2013 6:07pm
i'm long too im just scared about mario draghi speak tomorrow, If he says short all longs will be underwater
  • #334,369
  • Jan 21, 2013 6:10pm Jan 21, 2013 6:10pm
Quoting Farrusco
i'm long too im just scared about mario draghi speak tomorrow, If he says short all longs will be underwater
just treat longs as countertrend trades mate.. hit and run, don't stay too long.. imho.
  • #334,370
  • Jan 21, 2013 6:16pm Jan 21, 2013 6:16pm
Quoting A-speculator
just treat longs as countertrend trades mate.. hit and run, don't stay too long.. imho.
Yeah i'm going to take your advice, I was looking at this bottom as the start of wave 4, but I guess I will take profit soon and maybe short looking at PA 35 pips from bottom not enough! but it could be due to low volatibility day that's why i'm not so certain
  • #334,371
  • Jan 21, 2013 6:30pm Jan 21, 2013 6:30pm
Quoting Farrusco
Yeah i'm going to take your advice, I was looking at this bottom as the start of wave 4, but I guess I will take profit soon and maybe short looking at PA 35 pips from bottom not enough! but it could be due to low volatibility day that's why i'm not so certain
somehow i think cable will retest the breakout price again (59xx area), the question is just when.. lol.

as we already know, currently the main trend is down, there will be retracement to the upside and since it's just a retracement, it can go back to the main trend in the blink of an eye, so if you're long, you have to be very careful and stay cautious at all time. it doesn't mean you can't profit on counter trend, just be extra careful..
  • #334,372
  • Jan 21, 2013 6:45pm Jan 21, 2013 6:45pm
shorted EG at 8405, with SL just above yesterday's high.. hopefully this can work out..
  • #334,373
  • Jan 21, 2013 8:23pm Jan 21, 2013 8:23pm
Quoting Compulsive
Still long the GBP/NZD from 1.90005 and 1.89857, 1.89500 and just added another long at 1.8905 (25keach) - I am basing it on that the NZD/USD will not hold the top and that the GBP will hold the "bottom (there is hidden divergence ) - Went long the GBP/USD at 1.5810 (standard 100k)


http://i.imgur.com/kjuhKBB.png
Sold a quater@ 1.5835 - moved the remaining stop at break even
  • #334,374
  • Jan 22, 2013 3:50am Jan 22, 2013 3:50am
here are links for my today's 'checkups'

GBP USD

EUR USD

EUR GBP

prices are developing. hopefully today/tomorrow opportunity comes
90% of traders use TA, indicators and prediction
  • #334,375
  • Jan 22, 2013 3:58am Jan 22, 2013 3:58am
Quoting Compulsive
Sold a quater@ 1.5835 - moved the remaining stop at break even
Hey Compulsive,

Did you close out your GBP/NZD longs for a loss or are you still holding? If you're still holding just reminding you that we are sitting on a pretty solid weekly support at this time.

However, GBP/NZD is still very bearish (when looking at weekly and monthly candles) at this time and there is one more major support beneath 1.875 (where we are currently at) @ 1.855

1.855 is all time low and I don't see GBP/NZD making new all time lows...

If you are holding and can hold out another couple hundred pips you may have a nice rebound where we are currently at OR price could touch 1.855 again. Price Action at that point will be your guide.

As for GBP/AUD I still see another couple hundred pips downward movement as well. 1.475 and 1.464 are key points where I will keep an eye on.
  • #334,376
  • Jan 22, 2013 4:19am Jan 22, 2013 4:19am
Quoting 100PipsADay
Hey Compulsive,

Did you close out your GBP/NZD longs for a loss or are you still holding? If you're still holding just reminding you that we are sitting on a pretty solid weekly support at this time.

However, GBP/NZD is still very bearish (when looking at weekly and monthly candles) at this time and there is one more major support beneath 1.875 (where we are currently at) @ 1.855

1.855 is all time low and I don't see GBP/NZD making new all time lows...

If you are holding and can hold out another couple hundred pips you may have...
I just woke up up and saw the decline to a bit of a headache. I am still long, but will need to get out below 1.85000...was thinking of adding another long, but better not. The trade is based on taking a .0307% loss if needed or $4,150...
  • #334,377
  • Jan 22, 2013 4:58am Jan 22, 2013 4:58am
Yestrday's bounce at the 50% 5267-6349 sa w a pullback to 23.6% 6038-6349 before the sellers came back in sending price down to retsts that 50% fib area - now a previous 1hr/4hr swing lo zone...price has bounced up fgrom here again...BUT - will the pattern of a strong pullback followed by selling carry on in this pairing...or will there be some relief ? 7th straight down day yesterday resuled in 7th consec bearish bodied candle on daily t/f... 3rd LL on the daily t/f now at yesterday's low - this 3rd LL not being a fractal swing yet on this daily t/f.

G/L
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ex member
  • #334,378
  • Jan 22, 2013 5:35am Jan 22, 2013 5:35am
Quoting Compulsive
I just woke up up and saw the decline to a bit of a headache. I am still long, but will need to get out below 1.85000...was thinking of adding another long, but better not. The trade is based on taking a .0307% loss if needed or $4,150...
If you can wait until 1.85 then you should be fine!

I will be looking to get long once I observe price action at our current level OR if we go lower then I'll watch what happens at 1.855.

Your loss is very minimal in terms of % so you obviously have nothing to worry about. Money management (like what you have done) is key in our business, keep up the good work.
  • #334,379
  • Jan 22, 2013 6:01am Jan 22, 2013 6:01am
1.5837 support and looking to go higher
  • #334,380
  • Jan 22, 2013 6:43am Jan 22, 2013 6:43am
im long 5862 m15 candle setup
will cut half if goes near 5900 (prev swing high) then will try to understand if price can strength more till 5940 but i guess it's bit early for that.
tight stop loss because if <5860 again, can mean more down.

let's see
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