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Cable Update (GBPUSD)

  • #334,581
  • Jan 24, 2013 2:21am Jan 24, 2013 2:21am
Quoting Ill-b-back
Trying your strategy Specs on tiny tiny size:

Sold da Euro 3322, stop 3363, looking for 3179
that might take some time to TP i think, but first need a 4h close below 3300 of course.. it definitely will get there but might take sometime, imho.

first, we might get a rebounce at about 3230 area, perhaps to retest 3270-3300 area again. My tp is at 3150 and i assume price will get there in 2 days hopefully..
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  • #334,582
  • Jan 24, 2013 2:21am Jan 24, 2013 2:21am
Quoting A-speculator
this is my take on cable, as you can see.. cable is actually in a tight range and price atm is at support. one can short here of course but then might look like an idiot - because shorting at support.

my preferred price is at about the 5940-50 (or perhaps at the redline which reads 5960 area) definitely not at current price. Or might have to wait on the breakout retest of current support area for fresh short.
Agreed with you on the short level from high - I have 15950 level to short this pair.

However, if the pair attempts to break 15800 - I would take the long from 15730 (previous resistance in June-July 2012, becoming support)

Both trade will go with tie stop loss, but... large TP in my plan...

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  • #334,583
  • Jan 24, 2013 2:31am Jan 24, 2013 2:31am
Quoting A-speculator
that might take some time to TP i think, but first need a 4h close below 3300 of course.. it definitely will get there but might take sometime, imho.

first, we might get a rebounce at about 3230 area, perhaps to retest 3270-3300 area again. My tp is at 3150 and i assume price will get there in 2 days hopefully..
Just working on some multi timeframes stuff.

Got to go, IB Babys dinner time
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  • #334,584
  • Jan 24, 2013 2:36am Jan 24, 2013 2:36am
A couple of doji-esq candles on the daily now at that 3 fib cluster incl 50% 5263-6349....and a 1hr and 4hr range has developed. Uk data at 0930am London. 3rd LL now on daily but no fractal swing yet at that 3rd -maybe today if daily candle closes up and the current lo holds.

G/L
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ex member
  • #334,585
  • Jan 24, 2013 2:43am Jan 24, 2013 2:43am
Quoting Ill-b-back
Just working on some multi timeframes stuff.

Got to go, IB Babys dinner time
you have to be patience on this.

let's hope the swissy (will hold the 9300 support) and EG (dojis on daily basis - breakout to the downside expected) will support our view..
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  • #334,586
  • Jan 24, 2013 4:24am Jan 24, 2013 4:24am
http://my.jetscreenshot.com/6252/m_2...-xfcz-96kb.jpg


gbpusd retest 23.6% fibonaci and i target buy to take profit at 161.8%
  • #334,587
  • Jan 24, 2013 4:27am Jan 24, 2013 4:27am
Hey guys. Depending on today's price action we might see a diamond formation here on cable.
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  • #334,588
  • Jan 24, 2013 4:46am Jan 24, 2013 4:46am
Any one noticed the significance divergence between FT100 and GBPUSD? I don't understand... can anyone try to come up with an explanation? Thanks
  • #334,589
  • Jan 24, 2013 5:11am Jan 24, 2013 5:11am
Quoting Wuza
Don't You think that ther's to many "IF"s in that oucring to affect curent pound rates ?
Also it's realy delayed, I'd sya that part of that fear was already priced in and yesterdays data and the fact that there won't be voting for next 2-3 years atleast may work in favour of pound in short term.
What about,

A downgrade.
The trade deficit.
The deficit.
Debt.
Inflation targeting, dropped.(Well it already has been, but officially speaking)
Carney, QE expanding further, bigger and faster.
  • #334,590
  • Jan 24, 2013 5:12am Jan 24, 2013 5:12am
Quoting Dynamics
Any one noticed the significance divergence between FT100 and GBPUSD? I don't understand... can anyone try to come up with an explanation? Thanks
QE.
  • #334,591
  • Jan 24, 2013 5:20am Jan 24, 2013 5:20am
looks like LH on GU. we can expect break down before news
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  • #334,592
  • Jan 24, 2013 5:38am Jan 24, 2013 5:38am
Quoting A-speculator
you have to be patience on this.

let's hope the swissy (will hold the 9300 support) and EG (dojis on daily basis - breakout to the downside expected) will support our view..
Yes, trading Cable lately has given me patience

I was thinking the swissy would drop to 9220 area on the TL retest before rising again.
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  • #334,593
  • Jan 24, 2013 5:42am Jan 24, 2013 5:42am
oh man, i thought i want to see how the price unfolds, but today PA is a pain in the a$$. Kiwi and aussie is better i think, at least giving me some pips, fiber & swissy has been range bound since asian..

guess i just have to set SL and go away.

later guys.
  • #334,594
  • Jan 24, 2013 5:45am Jan 24, 2013 5:45am
Quoting Ill-b-back
Yes, trading Cable lately has given me patience

I was thinking the swissy would drop to 9220 area on the TL retest before rising again.
let's see how the 9300 support is doing. I had a position at 9285 this morning but has to close to cover my error/drawdown on EG. i think 9285 also provide quite a good support.

anyway, it's near to US open and price is still at where it was this morning.

think i'll see u later, perhaps everyone is waiting for the fundamental data tonight and we are the crazy ones who trade before the release.. lol.
  • #334,595
  • Edited 6:17am Jan 24, 2013 6:06am | Edited 6:17am
Quoting walkman
looks like LH on GU. we can expect break down before news
i expect break down but also can bounce.

my lines...
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  • #334,596
  • Jan 24, 2013 6:16am Jan 24, 2013 6:16am
Quoting Mr.C
Hey guys. Depending on today's price action we might see a diamond formation here on cable.
If the lower right TL is broken 1,5810 and 1,5806 are the zones that could still hold and reverse the price.
Twitter: MrC_Forex ; Facebook: /pages/MrC-Forex/197693770247397
  • #334,597
  • Jan 24, 2013 6:22am Jan 24, 2013 6:22am
Quoting Mr.C
If the lower right TL is broken 1,5810 and 1,5806 are the zones that could still hold and reverse the price.
mr C u amaze u, u know this

Im not just saying this but if ever let any1 manage my account..ud be the first!!
  • #334,598
  • Jan 24, 2013 6:43am Jan 24, 2013 6:43am
Quoting nAVIN2007
mr C u amaze u, u know this

Im not just saying this but if ever let any1 manage my account..ud be the first!!
Your profit share would be bigger than for the other investors then.
Twitter: MrC_Forex ; Facebook: /pages/MrC-Forex/197693770247397
  • #334,599
  • Jan 24, 2013 6:59am Jan 24, 2013 6:59am
Quoting Mr.C
Your profit share would be bigger than for the other investors then.
  • #334,600
  • Jan 24, 2013 7:24am Jan 24, 2013 7:24am
Quoting Mr.C
If the lower right TL is broken 1,5810 and 1,5806 are the zones that could still hold and reverse the price.
Diamond invalidated and the road is clear for my short. 75 pips floating. TP for the time being: 1,5770.

Good luck guys.
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