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Cable Update (GBPUSD)

  • #336,621
  • Mar 8, 2013 3:07am Mar 8, 2013 3:07am
Quoting Ill-b-back
Seems a tight place,
some potential down more than up to me but not playing anything today
Yeah not really feeling like a conviction sell anymore. Very similar bottoming pattern last week on 2/27. Looks like it is going to fall through the floor with some very weak closes on 1HR/4HR and then no follow through. Not a buy signal or even a short covering point, but where we close the week will be important.
Twitter: @zusch_ -- Preselecting trending pairs, stocks on a weekly basis.
  • #336,622
  • Mar 8, 2013 3:13am Mar 8, 2013 3:13am
Long - 1.4997
I don't trust any move - when you have profit...take it.
  • #336,623
  • Mar 8, 2013 3:20am Mar 8, 2013 3:20am
Quoting zusch
Yeah not really feeling like a conviction sell anymore. Very similar bottoming pattern last week on 2/27. Looks like it is going to fall through the floor with some very weak closes on 1HR/4HR and then no follow through. Not a buy signal or even a short covering point, but where we close the week will be important.
I'm tempted to think of a short targeting 4955 or so,

But think I'll leave it...
Attached Image (click to enlarge)
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Come with me if you want to live....
  • #336,624
  • Mar 8, 2013 3:24am Mar 8, 2013 3:24am
Quoting Ill-b-back
I'm tempted to think of a short targeting 4955 or so,

But think I'll leave it...
I just think this whole area will likely get retraced next week so you're prob making the right choice.

Besides why watch Cable right now when U/J is just so much more fun.
Twitter: @zusch_ -- Preselecting trending pairs, stocks on a weekly basis.
  • #336,625
  • Mar 8, 2013 3:27am Mar 8, 2013 3:27am
Quoting Ill-b-back
I'm tempted to think of a short targeting 4955 or so,

But think I'll leave it...
That line is also causing me to scratch my head. There have been 3 or 2 (depending on how you classify them) bounces on the 1hr chart around 1.4980 with higher lows each time with a good sized gap between the 2nd and third, which on one hand gives a valid long trade, but on the other that line suggests the price won't reach where the price should theoretically go.

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  • #336,626
  • Mar 8, 2013 3:33am Mar 8, 2013 3:33am
Quoting zusch
I just think this whole area will likely get retraced next week so you're prob making the right choice.

Besides why watch Cable right now when U/J is just so much more fun.
Yes I'd agree, but I can only trade cable with confidence.
I Don't know a darn thing about the other pairs
Come with me if you want to live....
  • #336,627
  • Mar 8, 2013 3:37am Mar 8, 2013 3:37am
Quoting blobsaudio
That line is also causing me to scratch my head. There have been 3 or 2 (depending on how you classify them) bounces on the 1hr chart around 1.4980 with higher lows each time with a good sized gap between the 2nd and third, which on one hand gives a valid long trade, but on the other that line suggests the price won't reach where the price should theoretically go.

Attachment
Yep in theory.
I've noticed that prior to NFP, Cable likes to work hard in the opposite direction of the post NFP PA.

But each trade their own method and TF's, just an observation.
Come with me if you want to live....
  • #336,628
  • Mar 8, 2013 3:44am Mar 8, 2013 3:44am
Quoting Ill-b-back
Yep in theory.
I've noticed that prior to NFP, Cable likes to work hard in the opposite direction of the post NFP PA.

But each trade their own method and TF's, just an observation.
So your opinion is north to south. Or south yo north?:-) pick one. Can be wild guess
  • #336,629
  • Edited 4:11am Mar 8, 2013 3:50am | Edited 4:11am
As far as my technicals are concerned, today's low should remain intact and upward target for GBP/USD is $1.5200-$1.5350 in coming days...?
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--- only constant in this world is change ---
  • #336,630
  • Mar 8, 2013 3:53am Mar 8, 2013 3:53am
Quoting 5percent
So your opinion is north to south. Or south yo north?:-) pick one. Can be wild guess
If u ask me, I'd say north to south!
I still need a trading break soon!!! "Loose some to win more" --Baher A.
  • #336,631
  • Mar 8, 2013 3:55am Mar 8, 2013 3:55am
Quoting 5percent
So your opinion is north to south. Or south yo north?:-) pick one. Can be wild guess
If I had to pick one, I'd say north to south.

I only have a $991 account, so I am actually going to put on a 0.01 trade just to test if I am right what I am seeing.
Stop above yesterdays spike.
target 4955.

It's not a strong setup for me but it is a setup so just going to be mechanical here.
Come with me if you want to live....
  • #336,632
  • Mar 8, 2013 3:55am Mar 8, 2013 3:55am
Quoting Faller
Long - 1.4997

added 1.5008
I don't trust any move - when you have profit...take it.
  • #336,633
  • Mar 8, 2013 3:56am Mar 8, 2013 3:56am
Quoting Ill-b-back
Seems a tight place,
some potential down more than up to me but not playing anything today
Your line seems to be holding for the moment lets see how it performs with some news added to the spice!
I still need a trading break soon!!! "Loose some to win more" --Baher A.
  • #336,634
  • Mar 8, 2013 3:57am Mar 8, 2013 3:57am
Hi,

I am a newbie and I am badly stuck in a long trade of cable from 1.5195 . I am still holding it which is my bad and it's a big lesson regarding stop loss.

Will it go up from here or will the positive NFA report will send it down to 1.48? If it's going down than I am will lose my account

Please advice.
  • #336,635
  • Mar 8, 2013 4:03am Mar 8, 2013 4:03am
Quoting baherhosni
Your line seems to be holding for the moment lets see how it performs with some news added to the spice!
yep, got to go, having a very late dinner then up early for work tomorrow.

All the best
Come with me if you want to live....
  • #336,636
  • Mar 8, 2013 4:05am Mar 8, 2013 4:05am
Quoting Faller
added 1.5008

looking to exit on this next move up into strength.
I don't trust any move - when you have profit...take it.
  • #336,637
  • Mar 8, 2013 4:10am Mar 8, 2013 4:10am
Quoting Faller
looking to exit on this next move up into strength.
No offense or anything, but why are you posting your trades so late?
Twitter: @zusch_ -- Preselecting trending pairs, stocks on a weekly basis.
  • #336,638
  • Mar 8, 2013 4:11am Mar 8, 2013 4:11am
Quoting zusch
No offense or anything, but why are you posting your trades so late?
  • #336,639
  • Mar 8, 2013 4:15am Mar 8, 2013 4:15am
Quoting zusch
No offense or anything, but why are you posting your trades so late?

would you like me to post my trade screen? and my profit?

ask Ill-b-back - I used to do it all the time....

I have been up for 24 hours...just tired.....sorry for late posts.

Mother in law dying of cancer...out of town with wife visiting mother in law....have roadie computer setup.......

again sorry for late posts....but I will provide results and trade log if you wish.

Thanks...

Faller
I don't trust any move - when you have profit...take it.
  • #336,640
  • Mar 8, 2013 4:22am Mar 8, 2013 4:22am
Quoting Faller
would you like me to post my trade screen? and my profit?

ask Ill-b-back - I used to do it all the time....

I have been up for 24 hours...just tired.....sorry for late posts.

Mother in law dying of cancer...out of town with wife visiting mother in law....have roadie computer setup.......

again sorry for late posts....but I will provide results and trade log if you wish.

Thanks...

Faller
Sorry to hear that.

Not necessary to post your logs...but I don't know maybe just don't post late trades as they can't really benefit anyone and you can avoid questions from people like me. No offense, again.
Twitter: @zusch_ -- Preselecting trending pairs, stocks on a weekly basis.
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