Cable Update (GBPUSD) | Page 16852 | 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)

  • #337,021
  • Mar 14, 2013 6:05pm Mar 14, 2013 6:05pm
Quoting oldtbone
maybe whats make FX-ANALYST pick that entry because of this...look at my chart..just my thought
with all the respect I still dont see how that would be a short area while the market is retracing , obviously when there is a trend , especially strong one you dont place sell limits to get into position , well he probably got stopped out anyways and all that for trying to be a oracle .... nothing wrong entering a trade later after confirming weakness and doing some less pips than just being slaughtered for future guessing. especially when shooting for a RR of 1:1.2 , you are better off using higher lots sizes and smaller targets than trying to predict the PA before seeing what it does in certain areas.

just my 2 cents.
  • #337,022
  • Mar 14, 2013 6:34pm Mar 14, 2013 6:34pm
Quoting nAVIN2007
..i just live my life this mofo can do whatever..last thing i need is forex consuming my life..when i first started trading, bro getting to this point for me was a dream as i was so consumed i didnt think it was possible..
Best post award . ..seriously

balance is the hardest thing
When the Joker is in the deck.. fear not and play it well
  • #337,023
  • Mar 14, 2013 7:11pm Mar 14, 2013 7:11pm
Well, well

first negative trade of the year from me.

A result of not following my own rules (no shorts below 1.50). Closed off for a fairly large loss

And the usual thing for me now will be to watch it fall like a brick again tomorrow and leave me wishing i had kept them open.

I can see it already, Just my luck....
Money never sleeps...
  • #337,024
  • Mar 14, 2013 7:11pm Mar 14, 2013 7:11pm
Is 1.5150 a good position for a short position?


Quoting nAVIN2007
i have got past the whole time thing with forex..i just live my life this mofo can do whatever..last thing i need is forex consuming my life..when i first started trading, bro getting to this point for me was a dream as i was so consumed i didnt think it was possible..

its still early days..i just hope tomorrow is a follow through towards 1.5150

i dont care how long it takes so long as it comes to where i need..lol
  • #337,025
  • Mar 14, 2013 7:45pm Mar 14, 2013 7:45pm
Quoting inpatient
Well, well

first negative trade of the year from me.

A result of not following my own rules (no shorts below 1.50). Closed off for a fairly large loss

And the usual thing for me now will be to watch it fall like a brick again tomorrow and leave me wishing i had kept them open.

I can see it already, Just my luck....
No bro, I think your ok, check out the 1hr 200 ema (support), and 4hr ema (resistance point).
That's the way I'm reading it anyway.
Come with me if you want to live....
  • #337,026
  • Mar 14, 2013 7:53pm Mar 14, 2013 7:53pm
Tower Bottom completed on H4 & Daily. H4 Chart as below.
Attached Image (click to enlarge)
Click to Enlarge Name: chart.gif Size: 43 KB
  • #337,027
  • Mar 14, 2013 7:53pm Mar 14, 2013 7:53pm
Quoting Maso
Is 1.5150 a good position for a short position?

Very likely since i closed out already...

million dollar question Maso,

many think we are following a similar pattern to 2010 wher we seen a fall from 1.63 area in January 2010 to 1.49 in mid march, a retrace to 1.54 and then a fall to 1.44 at the end of may 2010.

Who knows if we are on the same track but to answer your question then yes this would be a good area to short. Also a good area to buy depending on the size of your trade and your willingness to hold it until it comes good.

My own feelings are that this is a retrace that will form part of the same downtrend. I dont believe we have seen the bottom of this yet. Will we see 1.44 area like in 2010? I hope so (since it will give the bulls the mother of all gifts).
Money never sleeps...
  • #337,028
  • Mar 14, 2013 8:03pm Mar 14, 2013 8:03pm
the worry with going short right now is the thought of today and the fairly impressive short covering that occurred.

Someone with way more money and wisdom than me decided this would be a good place to change their tune.

The foolish thing would be to try and question them. If you cant beat them join them.

Unless those same people decide to re enter again. It shows how big some of the players are out there. George Soros x 100
Money never sleeps...
  • #337,029
  • Mar 14, 2013 8:03pm Mar 14, 2013 8:03pm
wanna try a 20 pip or so neg scalp ???

I'm not so sure I do either but what the hey
1.5054 should be that first neg TP
Attached Image (click to enlarge)
Click to Enlarge Name: post.gif Size: 25 KB
When the Joker is in the deck.. fear not and play it well
  • #337,030
  • Mar 14, 2013 8:57pm Mar 14, 2013 8:57pm
oh yeah

hope you didn't miss this

doesn't matter tho

http://www.forexfactory.com/newreply...eply&p=6516591


all the best

SoB
When the Joker is in the deck.. fear not and play it well
  • #337,031
  • Mar 14, 2013 8:59pm Mar 14, 2013 8:59pm
test
I don't trust any move - when you have profit...take it.
  • #337,032
  • Mar 14, 2013 10:01pm Mar 14, 2013 10:01pm
Quoting fontu
A good try correction , breakout & so .will watch next level may tank if not hold this present try , 5135 ,67 & last 5200 & 5222.now limit down goes to 4981/58 for up next & if daily close around 5070/50 then spike only breakout may be .

eu & gold not any great hope still for the try up be success yet. so great may not as such seems , last leg up for further tanking possible .eu chances for targets 2861 or 2770 remain intact .
at least more volatility here with more chance gain or loss.lets see .
fontu
So, daily close for yesterday was 1.5082, are we on the process of breakout to north? Really want to try long position at this current level, but still wondering where should I put the SL, the only number I had is around 1.4980 for SL but that's 100 pips away.
  • #337,033
  • Mar 14, 2013 10:38pm Mar 14, 2013 10:38pm
Quoting Higuain
So, daily close for yesterday was 1.5082, are we on the process of breakout to north? Really want to try long position at this current level, but still wondering where should I put the SL, the only number I had is around 1.4980 for SL but that's 100 pips away.
a SL 100 pips while the TP 220 for the target level 1.530 - that is a good win/loss ratio, right?
  • #337,034
  • Mar 15, 2013 12:10am Mar 15, 2013 12:10am
Seems to be a decent shorting opportunity down to 1.5015 area, maybe lower.
Come with me if you want to live....
  • #337,035
  • Mar 15, 2013 12:47am Mar 15, 2013 12:47am
majority forecast bullish, i still keeping my long position @ 1.4915.... wish to see 1.52 today.
  • #337,036
  • Mar 15, 2013 1:45am Mar 15, 2013 1:45am
1.44? I think GU will go to 1.6


Quoting inpatient
Very likely since i closed out already...

million dollar question Maso,

many think we are following a similar pattern to 2010 wher we seen a fall from 1.63 area in January 2010 to 1.49 in mid march, a retrace to 1.54 and then a fall to 1.44 at the end of may 2010.

Who knows if we are on the same track but to answer your question then yes this would be a good area to short. Also a good area to buy depending on the size of your trade and your willingness to hold it until it comes good.

My own feelings are that this is a retrace that...
  • #337,037
  • Mar 15, 2013 2:20am Mar 15, 2013 2:20am
Quoting kamifx
Unfortunately, pair did not go upwards to see lower than 1.4780 till now and that's the reason we see swing between 1.4877 - 1.4835 right now so don't be so optimistic to go below 1.4780 very soon. be patient till enough energy
Since 2 days ago pair has tried to find momentum to go downwards but the market is waiting for strong volume to show the real movement of this pair and again i'm telling if it doesn't touch weekly key resistance , can not go below 1.4780
Now on 1.5131 and still can go till 1.5146>57> 65 but it's not enough
Don’t follow someone else’s trading advice blindly
  • #337,038
  • Edited 4:29am Mar 15, 2013 2:51am | Edited 4:29am
Quoting Higuain
So, daily close for yesterday was 1.5082, are we on the process of breakout to north? Really want to try long position at this current level, but still wondering where should I put the SL, the only number I had is around 1.4980 for SL but that's 100 pips away.
Closed litle above the arbitrary line only , no exact & the upthrust continues since morning for more upper levels like 5135 & others . failure here or any above till 5222 limit down for up goes to now 4981. so sl loss for long can be below H4 candle low 5068 for only waves upside , may be small to moderate upside . or trying up then below 4981 , risky job.
eu, gold not promising yet , eu 3055 or up not any problem for down continue strong , gold in frustration up ! so also not believing gu spike up !!
thanks , fontu

just a weekly chart as to correction/pullback or not ultimately , and added a 15 m tf chart at present below .


my present views also adding as replied in response an email this morning .
"
Thanks for the email & sorry for the late reply also . Just open computer as Friday today & so no office & more sleeping time .

good logic but me never rely on over sold or bought as there actually no limit in this almost unlimited market & at the same time as technical trader not to news most times as believe news will be continuously be created to adopt the technical things though nothing perfect . that is everything is actually related to everything in a complex fashion .yes supply demand & all other things also work within certain limits as there must be something new in the progression of the future through the present interactions .


gbpusd tanking continues from 6381 without any correction , even a minimum rather with 5th extension at times ,1st 5878-5630 range & next now at this bottom 5222-4831 as if this great down wave as only one continuous ( see weekly ) . even lets take not ( no extension , corrected minimum to continue next ) , waves without correction due heavy tanking then now price may reach this low 4831 at wave 3 & next 4 as limit up for next down goes to 5630 if breaks now 5222 with confirmation 5314 & unlike the previous range conditions 5878-5630!if any great gross fundamentals changes by this time now or situation just come to normal for this normal correction pattern ?? doubtful both yet .

other than this , that is again failure to take a healthy correction it only follow the trend down .
so now 5135,67.5200 before 5222 watch levels .
Thanks , hope you understand , take care before any action any side .
fontu "
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpusdweekly.png Size: 28 KB
Click to Enlarge Name: gbpusdm15.png Size: 26 KB
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #337,039
  • Edited 5:12am Mar 15, 2013 4:43am | Edited 5:12am
I become too self-confident after more then ten profitable trades in a row (one of them was breakeven) and I make trading decision against increasing momentum.
I have loss of 50 pip.
Currently gbp is near other good resistance level (according my calculation 1.5150/60)
I will look for short setup around this level if other factors will confirm.

Quoting fx-analyst
My sell Limit trade is executed at 1.5035
Stop loss is 1.5085
Take profit 1.4985

Analyst
  • #337,040
  • Mar 15, 2013 5:29am Mar 15, 2013 5:29am
Quoting kamifx
Since 2 days ago pair has tried to find momentum to go downwards but the market is waiting for strong volume to show the real movement of this pair and again i'm telling if it doesn't touch weekly key resistance , can not go below 1.4780
Now on 1.5131 and still can go till 1.5146>57> 65 but it's not enough
Nice Move toward Up Levels
So now there are two Levels must be considered:
Above 1.5165 makes the way toward 1.5192
Below 1.5108 make the way toward 1.4986> 1.4969>1.4912
Attached Image (click to enlarge)
Click to Enlarge Name: GU1.JPG Size: 58 KB
Don’t follow someone else’s trading advice blindly
280 traders viewing now, 1 is registered: