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Cable Update (GBPUSD)

  • #344,221
  • Jul 24, 2013 11:50pm Jul 24, 2013 11:50pm
Short 5350
Limit short 5385 5pips lower then previous high
Will continue shorting every 50pips increments should the price go higher

Closed all EN shorts 280pips gain in 24hrs
In trading, you have to be defensive and aggressive at the same time
  • #344,222
  • Jul 24, 2013 11:58pm Jul 24, 2013 11:58pm
Quoting Davit
Short 5350 Limit short 5385 5pips lower then previous high Will continue shorting every 50pips increments should the price go higher Closed all EN shorts 280pips gain in 24hrs
What is your rationale for shorting GBP right now?
  • #344,223
  • Jul 24, 2013 11:59pm Jul 24, 2013 11:59pm
Quoting CEOcypha
{quote} What is your rationale for shorting GBP right now?

PA failed to break 54 and 54 is
Attached Image (click to enlarge)
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In trading, you have to be defensive and aggressive at the same time
  • #344,224
  • Jul 25, 2013 12:01am Jul 25, 2013 12:01am
Quoting CEOcypha
{quote} What is your rationale for shorting GBP right now?

By the way there was no Rationale Shorting EN either...
Check EN chart in 24hrs
In trading, you have to be defensive and aggressive at the same time
  • #344,225
  • Jul 25, 2013 12:06am Jul 25, 2013 12:06am
Quoting Davit
{quote} By the way there was no Rationale Shorting EN either... Check EN chart in 24hrs
Davit, what kind of short targets are you looking at?
  • #344,226
  • Jul 25, 2013 12:06am Jul 25, 2013 12:06am
Quoting Davit
{quote} PA failed to break 54 and 54 is {image}
thanks for the chart explanation
I have a GBP/CAD short
kind of nervous about them with the UK GDP numbers coming out in an hour

deciding on where to put SL
  • #344,227
  • Edited 12:43am Jul 25, 2013 12:20am | Edited 12:43am
Quoting CEOcypha
{quote} thanks for the chart explanation I have a GBP/CAD short kind of nervous about them with the UK GDP numbers coming out in an hour deciding on where to put SL

Better shorting EC but not yet
I have limit shorts 3675 37 3725 3750 waiting.
In trading, you have to be defensive and aggressive at the same time
  • #344,228
  • Jul 25, 2013 12:22am Jul 25, 2013 12:22am
Quoting JollyBean
{quote} Davit, what kind of short targets are you looking at?

EN shorts are closed +280pips check my journal Davit confluence trading and I uploaded a book there as well.
In trading, you have to be defensive and aggressive at the same time
  • #344,229
  • Jul 25, 2013 12:28am Jul 25, 2013 12:28am
Quoting Davit
{quote} EN shorts are closed +280pips check my journal Davit confluence trading and I uploaded a book there as well.
Sorry I meant to state your short targets for cable, not EN.
  • #344,230
  • Jul 25, 2013 12:31am Jul 25, 2013 12:31am
Quoting JollyBean
{quote} Sorry I meant to state your short targets for cable, not EN.

TP is always decided on PA
I like placing them on Round numbers 5250 52 5150 50
When I am confident I move my SL to hold some profits and let the wild beast to run its course.Every good trader knows that one can't predict exact TP
You must be in tune with the market.If momentum for short is gone then by all means get out!
Problem with lot of "systems" they make trading mechanical.Markets don't act mechanical therefore most of those system fail in the long run.
In trading, you have to be defensive and aggressive at the same time
  • #344,231
  • Jul 25, 2013 12:40am Jul 25, 2013 12:40am
lot of red news on calendar today..anyway some view..1.54 didnt broke and we still below 61.8 fib but to early to decide now(for me)

G/L to all
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when GOD brings you a challenge he also gives you the power to deal with it
  • #344,232
  • Jul 25, 2013 12:41am Jul 25, 2013 12:41am
Uk News event at 0930am London may shake it up a bit - daily shows where the support was at the low yesterday - ie at the previous swing hi - prev res became support.

G/L

Quoting bbmac
Event Risk: Uk Q2 GDP prelim tomorrow at 0930am London: This data release has the potential to move this (and other) markets on the knee jerk (+.) +0.6% the forecast - twice that of the Q1 number ...so, if that or above - most likely knee-jerk reaction (+?) is £ strength...but if the number disappoints - ie say 0.3% or below - then likely may see some £ weakness on the knee-jerk (+?) All the surveys recently have been broadly positive so it points to a number at least stronger than Q1's...but if the number comes in above Q1 but below forecast...well...
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ex member
  • #344,233
  • Jul 25, 2013 12:51am Jul 25, 2013 12:51am
Hmmm, is this the pump before the GDP dump, or is she just going to sail on through?
Come with me if you want to live....
  • #344,234
  • Jul 25, 2013 12:52am Jul 25, 2013 12:52am
GPBUSD buy / EURGBP sell holding for UK GDP


UK GDP Figures out today a little bird told me they are expecting a higher than forecast reading. Forecast 0.6% but I heard 0.7% or higher. GBP is already rallying so I think it is pretty much a foregone conclusion. So I’m expecting a big bullish move from GBP @ 9:30 UK Time which will be one hell of a ride!

I will be out of everything hopefully before 13:30 as we have US Durable Goods. We have had mixed data from the US so I don’t want to lose any gains from the GBP trades earlier. I will re-enter after the moves when things settle.

Here’s my GBP chart from last night. Note the green box, I do this sometimes to identify ranges. The centre black line is about the middle of the box it did false break down but rallied again this morning.
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  • #344,235
  • Jul 25, 2013 1:02am Jul 25, 2013 1:02am
Quoting Davit
{quote} PA failed to break 54 and 54 is {image}
Ya It did failed to break 1.54 thrice.. but the channel lows are still intact.. a fourth rejection around 1.54 could be a sell ..

GDP Data in 30 mins will give it a pull lower if they are bad, but ofcourse after hitting SLs above 1.54 most prolly ..

http://i28.photobucket.com/albums/c2...ps77b08f33.jpg
  • #344,236
  • Jul 25, 2013 1:07am Jul 25, 2013 1:07am
Quoting Royal Trader
GPBUSD buy / EURGBP sell holding for UK GDP UK GDP Figures out today a little bird told me they are expecting a higher than forecast reading. Forecast 0.6% but I heard 0.7% or higher. GBP is already rallying so I think it is pretty much a foregone conclusion. So I’m expecting a big bullish move from GBP @ 9:30 UK Time which will be one hell of a ride! I will be out of everything hopefully before 13:30 as we have US Durable Goods. We have had mixed...
do u belive in rumers?pls dont share rumers lot of ppl here can loose if they do belive like u pls keep the rumers for yourself buddy

well if it will fail cauze your little bird is so little that info not true...u need big bird

anyway my point here

G/L
when GOD brings you a challenge he also gives you the power to deal with it
  • #344,237
  • Jul 25, 2013 1:11am Jul 25, 2013 1:11am
Quoting eitan1010
{quote} do u belive in rumers?pls dont share rumers lot of ppl here can loose if they do belive like u pls keep the rumers for yourself buddy well if it will fail cauze your little bird is so little that info not true...u need big bird anyway my point here G/L

I just ignore posts like that.
Agree useless.
In trading, you have to be defensive and aggressive at the same time
  • #344,238
  • Jul 25, 2013 1:14am Jul 25, 2013 1:14am
Anyone caught the spike on EC?I was hoping a huge spike to trigger my shorts but was not strong enough.
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In trading, you have to be defensive and aggressive at the same time
  • #344,239
  • Jul 25, 2013 1:25am Jul 25, 2013 1:25am
supply at tues/weds's hi just ahead of data...1.618% of the total pullback off tues hi is at 5455 with 2.618% at 5560...targets for upside if data is good ? Bad number may see some long stops get taken out ?

G/L
ex member
  • #344,240
  • Jul 25, 2013 1:29am Jul 25, 2013 1:29am
Quoting Royal Trader
GPBUSD buy / EURGBP sell holding for UK GDP UK GDP Figures out today a little bird told me they are expecting a higher than forecast reading. Forecast 0.6% but I heard 0.7% or higher. GBP is already rallying so I think it is pretty much a foregone conclusion. So I’m expecting a big bullish move from GBP @ 9:30 UK Time which will be one hell of a ride! I will be out of everything hopefully before 13:30 as we have US Durable Goods. We have had mixed data from the...
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