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Cable Update (GBPUSD)

  • #338,261
  • Apr 4, 2013 12:10am Apr 4, 2013 12:10am
  • #338,262
  • Apr 4, 2013 12:12am Apr 4, 2013 12:12am
After the BOJ gave us the first stimulant of the day.
Am hanging onto my short on the cable with all the three targets
expected to be achieved by end of tomorrow.
This just feels like breakfast on a festive day.
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  • #338,263
  • Apr 4, 2013 12:58am Apr 4, 2013 12:58am
Hi Inpatient.. No overall I am bearish to 1.4990 - but we didn't make my target so expect another leg up first.. perhaps at 1.5096 - Although if it goes from here have no [roblem as wil buy the hedge up at 15060 then re short again adding to the pyramind etc

I play both ways but am pyraminding a position down and hedging the longs back up -Also expect dollar to go down very shortly from where it is which will help cable rise up a little - either way i will have enough to get break even if i am wrong and i will scale at 15096 my short at 1.5150 but have shorts at 15250 and 152 as well
  • #338,264
  • Apr 4, 2013 1:02am Apr 4, 2013 1:02am
i mean if it i will look to buy at 15096 and hold to 15170 but see the shorts at 15130 but it will get me break even and if it bust i will buy it back up later on the drop to 151 and add to the short - my figures were wrong in last responce but at 8320 am expecting a dollar drop as well which links in to cable long
  • #338,265
  • Apr 4, 2013 1:23am Apr 4, 2013 1:23am
Quoting RussJ
Hi Inpatient.. No overall I am bearish to 1.4990 - but we didn't make my target so expect another leg up first.. perhaps at 1.5096 - Although if it goes from here have no [roblem as wil buy the hedge up at 15060 then re short again adding to the pyramind etc I play both ways but am pyraminding a position down and hedging the longs back up -Also expect dollar to go down very shortly from where it is which will help cable rise up a little - either way i will have enough to get break even if i am wrong and i will scale at 15096 my short at 1.5150 but...
I think we will see 5080 first, maybe a little rebound there.. i expect to see 5000 by today hopefully..
  • #338,266
  • Apr 4, 2013 1:24am Apr 4, 2013 1:24am
going long here 1.5100 sl 1.5073 reason good support at 1.5094 and the BOEhave not decided on qe yet
  • #338,267
  • Apr 4, 2013 1:28am Apr 4, 2013 1:28am
Quoting Prosac_100Mg
going long here 1.5100 sl 1.5073 reason good support at 1.5094 and the BOEhave not decided on qe yet
Playing catching knives mate?
  • #338,268
  • Apr 4, 2013 1:45am Apr 4, 2013 1:45am
Quoting A-speculator
Playing catching knives mate?
it would seem that they are quite sharp as well .... ouch
  • #338,269
  • Apr 4, 2013 1:45am Apr 4, 2013 1:45am
I'm also to blame trying to catch the knife... one chart says 60 was top another 70 and as 4 hour stoch was still not there.. thought possible we could do another leg up to 15170 then massive fall.. Still viable but i now expect up a little to 1.5113 then down to 1.4040 then up to 1.5087 then break of support down to 1.4990 end of day target - Anyone have anything similar?
  • #338,270
  • Apr 4, 2013 2:01am Apr 4, 2013 2:01am
Quoting RussJ
I'm also to blame trying to catch the knife... one chart says 60 was top another 70 and as 4 hour stoch was still not there.. thought possible we could do another leg up to 15170 then massive fall.. Still viable but i now expect up a little to 1.5113 then down to 1.4040 then up to 1.5087 then break of support down to 1.4990 end of day target - Anyone have anything similar?
I see u can predict quite a bit into the future eh... trading must be easy for u..
  • #338,271
  • Apr 4, 2013 2:08am Apr 4, 2013 2:08am
The area to watch for any potential bounces.

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  • #338,272
  • Apr 4, 2013 2:17am Apr 4, 2013 2:17am
Quoting RussJ
I'm also to blame trying to catch the knife... one chart says 60 was top another 70 and as 4 hour stoch was still not there.. thought possible we could do another leg up to 15170 then massive fall.. Still viable but i now expect up a little to 1.5113 then down to 1.4040 then up to 1.5087 then break of support down to 1.4990 end of day target - Anyone have anything similar?
me i like to take it one loss at a time ........... that short i scratched last night for 10 pips at 1.5132 looks really good now .

the problem i have is that when i hold trades overnight the asian market allways burns my ass.
  • #338,273
  • Apr 4, 2013 2:19am Apr 4, 2013 2:19am
All the way down, waiting to see whether 1.5075 will be held
  • #338,274
  • Apr 4, 2013 2:22am Apr 4, 2013 2:22am
Quoting Prosac_100Mg
it would seem that they are quite sharp as well .... ouch
Afraid to miss that move < Afraid to loose $ = not trading today happy pips everyone
  • #338,275
  • Apr 4, 2013 2:40am Apr 4, 2013 2:40am
Now, this time the BOE weaken the sterling. No surprise if today we see 1.49.
  • #338,276
  • Apr 4, 2013 2:40am Apr 4, 2013 2:40am
Quoting A-speculator
I see u can predict quite a bit into the future eh... trading must be easy for u..
Nope can;t see the future but can usually read the fractals quite well. I just simply looks at the wicks and then add and drop timeframes to give me the next point of support or resistnace although sometimes i need to judge which chart is correct... one trades New York hours without weekends and another trades the weekends as well and the day starts differently as one will incorporate the Asian hours in the day but the other finishes 10pm GMT. Yesterdays high was consistant with the bottom of monthly wick on GMT chart and i should ahve shorted there but was waiting for 72... 14 pips higher - That was the short point from where itr went from
  • #338,277
  • Apr 4, 2013 2:55am Apr 4, 2013 2:55am
Quoting RussJ
Nope can;t see the future but can usually read the fractals quite well. I just simply looks at the wicks and then add and drop timeframes to give me the next point of support or resistnace although sometimes i need to judge which chart is correct... one trades New York hours without weekends and another trades the weekends as well and the day starts differently as one will incorporate the Asian hours in the day but the other finishes 10pm GMT. Yesterdays high was consistant with the bottom of monthly wick on GMT chart and i should ahve shorted there...
I guess my limited experience in trading make its hard for me to understand what ure trying to tell me mate..

Anyway, all the best my friend..
  • #338,278
  • Apr 4, 2013 3:13am Apr 4, 2013 3:13am
Hey Guys, Watch for GBP/USD and PMI news In 30 mins. When it touches 1.4999 or falls down, get in long because the GBP assest purchase rate and Interest rate may most probably remain unchanged in the news 2hours 30mins later and a possibility of the pair going sky high from below back to 1.5150~1.5200 area again. Opportunity and Risk / Rewards your willing to take on the probability.
prepare for worst & expect the best
  • #338,279
  • Apr 4, 2013 3:14am Apr 4, 2013 3:14am
Playing this one for free now 50 pips locked in!
All posts are my personal opinion
  • #338,280
  • Apr 4, 2013 3:17am Apr 4, 2013 3:17am
Quoting tony_dtrader
Hey Guys, Watch for GBP/USD and PMI news In 30 mins. When it touches 1.4999 or falls down, get in long because the GBP assest purchase rate and Interest rate may most probably remain unchanged in the news 2hours 30mins later and a possibility of the pair going sky high from below back to 1.5150~1.5200 area again. Opportunity and Risk / Rewards your willing to take on the probability.
Perhaps we're going for price below 1.5 with this kind of momentum.. but i'm going to TP just above 1.5 and see how candle progress after that.

Are u going to play catching knife mate?
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