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Cable Update (GBPUSD)

  • #344,061
  • Jul 19, 2013 5:50am Jul 19, 2013 5:50am
Quoting JasmineQu
Shorted @ 5248, not feel so good, but plan to add shorts @5280, 5300,5350 if possible, or maybe 5400, all SL somewhere above 54XX. I see 1000pips down in month chart, anyone with me ?
Yeah I am with you on the short.
  • #344,062
  • Jul 19, 2013 5:53am Jul 19, 2013 5:53am
Quoting JasmineQu
Shorted @ 5248, not feel so good, but plan to add shorts @5280, 5300,5350 if possible, or maybe 5400, all SL somewhere above 54XX. I see 1000pips down in month chart, anyone with me ?

1k pips down ..no way..
  • #344,063
  • Jul 19, 2013 5:55am Jul 19, 2013 5:55am
Quoting nAVIN2007
{quote} i think it is possible..i can never think of a time when i have enter and not seen at least 10 pips drawdown..but i think to trade like this u need a big stop otherwise even being 10% correct is an achievement
Thanks nAV - tell all these shorters to go look at the daily they might listen to you! They could be right of course.
  • #344,064
  • Jul 19, 2013 5:59am Jul 19, 2013 5:59am
Quoting nAVIN2007
{quote} 1k pips down ..no way..
it would be something especially in holiday time as well. Hey only chance of that is if Citi or HSBC or someone gave Nick Leeson a job.
  • #344,065
  • Jul 19, 2013 6:04am Jul 19, 2013 6:04am
Quoting claudia1
{quote} Thanks nAV - tell all these shorters to go look at the daily they might listen to you! They could be right of course.
there is more chance of them doing the opposite to what i suggest
the way the monthly is looking i fancy a test of 1.5450...around there i might get nervous about my longs or below 1.50

its very early still but USD index is looking to print a bearish pin and GBP strength is looking to challenge a breakout point..if its a breakout, pound is gonna fly

note:- gbp strength is driven by bullish diverence..i have been trading this diverence for more than a year and a half
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: usdlfxmonthly.png Size: 70 KB
Click to Enlarge Name: gbpusdmonthly.png Size: 74 KB
  • #344,066
  • Jul 19, 2013 6:33am Jul 19, 2013 6:33am
Woah that spike was close...5 pips off my SL
  • #344,067
  • Jul 19, 2013 6:36am Jul 19, 2013 6:36am
Quoting nAVIN2007
{quote} there is more chance of them doing the opposite to what i suggest the way the monthly is looking i fancy a test of 1.5450...around there i might get nervous about my longs or below 1.50 its very early still but USD index is looking to print a bearish pin and GBP strength is looking to challenge a breakout point..if its a breakout, pound is gonna fly note:- gbp strength is driven by bullish diverence..i have been trading this diverence for more than a year and a half {image} {image} {image}
yes i remember that...we were in the same boat then..
when GOD brings you a challenge he also gives you the power to deal with it
  • #344,068
  • Jul 19, 2013 6:37am Jul 19, 2013 6:37am
Quoting Lucky_FX
Woah that spike was close...5 pips off my SL
I think you will find that 'spike' was a bit of profit taking but good luck. Maybe if you convinced it going down that would be a good place to add.
  • #344,069
  • Jul 19, 2013 6:42am Jul 19, 2013 6:42am
Quoting nAVIN2007
{quote} i agree with everything but taking the hit.. one thing i realised is having a stop miles away is pointless there comes a time always where the loss can be so big it is difficult to cut..i approach same scenero as yourself but i have plenty of room i hope to breath anyway i will post a chart for u..if this scenero fails i think u have to cut cause it will go lower..but u have a good chance it will bounce from here (I cannot post chart from live platform as alpari have distorted the candles (they are wrong)..good thing i know this) be...
remember this one?

Sep 13, 2011..
when GOD brings you a challenge he also gives you the power to deal with it
  • #344,070
  • Jul 19, 2013 6:44am Jul 19, 2013 6:44am
Where we go now....
Attached Image (click to enlarge)
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  • #344,071
  • Jul 19, 2013 6:47am Jul 19, 2013 6:47am
Shooting star forming at H1 chart? Reversal coming?

Please correct me if i'm wrong.
  • #344,072
  • Jul 19, 2013 6:48am Jul 19, 2013 6:48am
Quoting nAVIN2007
{quote} there is more chance of them doing the opposite to what i suggest the way the monthly is looking i fancy a test of 1.5450...around there i might get nervous about my longs or below 1.50 its very early still but USD index is looking to print a bearish pin and GBP strength is looking to challenge a breakout point..if its a breakout, pound is gonna fly note:- gbp strength is driven by bullish diverence..i have been trading this diverence for more than a year and a half {image} {image} {image}
I seem to trade equities this way lol been holding some for years. Kept buying RBS for some reason. It all comes right eventually. Wine bar time.
  • #344,073
  • Jul 19, 2013 6:48am Jul 19, 2013 6:48am
Quoting Lucky_FX
Shooting star forming at H1 chart? Reversal coming? Please correct me if i'm wrong.

Well, I see nothing though expect to.
Believe what you see instead of what you think!
  • #344,074
  • Jul 19, 2013 6:50am Jul 19, 2013 6:50am
Quoting Lucky_FX
Shooting star forming at H1 chart? Reversal coming? Please correct me if i'm wrong.
This is being sold for two reasons - first profit taking second so NY guys can get good price to buy. However it may collapse. Good luck.
  • #344,075
  • Jul 19, 2013 6:52am Jul 19, 2013 6:52am
Quoting claudia1
{quote} I seem to trade equities this way lol been holding some for years. Kept buying RBS for some reason. It all comes right eventually. Wine bar time.

  • #344,076
  • Jul 19, 2013 6:56am Jul 19, 2013 6:56am
Quoting eitan1010
{quote} remember this one? Sep 13, 2011..

well trade center collapse..caused me a big hickup
might have been the day i developed blood pressure
  • #344,077
  • Jul 19, 2013 7:05am Jul 19, 2013 7:05am
Quoting nAVIN2007
{quote} well trade center collapse..caused me a big hickup might have been the day i developed blood pressure

same here bro!!!
when GOD brings you a challenge he also gives you the power to deal with it
  • #344,078
  • Jul 19, 2013 7:37am Jul 19, 2013 7:37am
Quoting claudia1
{quote} This is being sold for two reasons - first profit taking second so NY guys can get good price to buy. However it may collapse. Good luck.

dear, do u have any suggestion?
G
  • #344,079
  • Jul 19, 2013 7:39am Jul 19, 2013 7:39am
Quoting Lucky_FX
Shooting star forming at H1 chart? Reversal coming? Please correct me if i'm wrong.
yes need wait confirmation
  • #344,080
  • Jul 19, 2013 7:52am Jul 19, 2013 7:52am
my view...
Attached Image (click to enlarge)
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Attached Image (click to enlarge)
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when GOD brings you a challenge he also gives you the power to deal with it
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