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Cable Update (GBPUSD)

  • #344,681
  • Aug 6, 2013 1:46am Aug 6, 2013 1:46am
Quoting danzka
anyone short this baby now?
yep .. tp 1.5300
  • #344,682
  • Aug 6, 2013 1:47am Aug 6, 2013 1:47am
no
  • #344,683
  • Aug 6, 2013 1:49am Aug 6, 2013 1:49am
got in small
In the end its just a stupid numbers game
  • #344,684
  • Aug 6, 2013 2:12am Aug 6, 2013 2:12am
5392 the post data and current hi of the day as better than forecast data saw another leg up on the knee-jerk before supply encountered...not pulled back to that prev 1hr swing hi zone where buy the dip demand has been met...clear hidden div plays to 3min there...so how strong are the bulls now ?

To the immediate upside:

5392 current daily hi

5402 Daily R1 @/around

5405-16 prev 1hr/4hr sw hi zone

5418-34 prev 1hr/4hr/minor daily sw hi zone incl 5424 85.4% 5531-4811, and 5431 = Weekly R1 @/around

5449 Daily R2 @/around

5460-77 prev 4hr/minor daily sw hi zone incl 5471=76.4% 5676-4811

5489 Monthly R1 @/around

5513-28 prev 4hr/minor dly sw hi zone incl 5521 = Daily R3 @/around, and 5528=76.4% 5751-4811

5543 38.2% 6746-4811













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  • #344,685
  • Aug 6, 2013 3:22am Aug 6, 2013 3:22am
i got a we are heading towards 1.46..then strong bull
  • #344,686
  • Aug 6, 2013 3:28am Aug 6, 2013 3:28am
Quoting nAVIN2007
i got a we are heading towards 1.46..then strong bull
Hello nAV, Hope your well...

Im currently running a short on GU from 72....

You in yet or you waiting?
  • #344,687
  • Aug 6, 2013 3:32am Aug 6, 2013 3:32am
Quoting Freshpips
{quote} Hello nAV, Hope your well... Im currently running a short on GU from 72.... You in yet or you waiting?

i got in 3 entries ofcourse i still have the longs but the issue i see is currencies are fighting to remain weak..gbp strength is at a point where any stronger its gonna be a uptrend..i simply think it is too soon for that..

we have retraced 61.8 from the move from 1.5750 to 1.48..a move to 1.46 is something i cant bet against..
  • #344,688
  • Aug 6, 2013 3:39am Aug 6, 2013 3:39am
are we heading down to 1.52 or possibly lower?
  • #344,689
  • Aug 6, 2013 3:57am Aug 6, 2013 3:57am
Quoting nAVIN2007
{quote} i got in 3 entries ofcourse i still have the longs but the issue i see is currencies are fighting to remain weak..gbp strength is at a point where any stronger its gonna be a uptrend..i simply think it is too soon for that.. we have retraced 61.8 from the move from 1.5750 to 1.48..a move to 1.46 is something i cant bet against..
I agree. But I am aware you trade on a much larger time frame...

In the shorterm, I need the area between 58/53 to give way for further downside...

On my M5 chart price is failing to break the 80EMA on every attempt...
  • #344,690
  • Aug 6, 2013 4:00am Aug 6, 2013 4:00am
Quoting Freshpips
{quote} I agree. But I am aware you trade on a much larger time frame... In the shorterm, I need the area between 58/53 to give way for further downside... On my M5 chart price is failing to break the 80EMA on every attempt...
well this week im looking for 1.52..i have to see what the hell happens there..i think this is the top for week
  • #344,691
  • Aug 6, 2013 4:04am Aug 6, 2013 4:04am
Quoting nAVIN2007
{quote} i got in 3 entries ofcourse i still have the longs but the issue i see is currencies are fighting to remain weak..gbp strength is at a point where any stronger its gonna be a uptrend..i simply think it is too soon for that.. we have retraced 61.8 from the move from 1.5750 to 1.48..a move to 1.46 is something i cant bet against..

naveen i am not an expert as you are but with the central banker they have got levels such as 1.58 or 59 if they come are selling opportunities. he will try to keep the currency as low as possible.
  • #344,692
  • Aug 6, 2013 4:44am Aug 6, 2013 4:44am
Quoting nAVIN2007
{quote} well this week im looking for 1.52..i have to see what the hell happens there..i think this is the top for week
In the end its just a stupid numbers game
  • #344,693
  • Aug 6, 2013 4:45am Aug 6, 2013 4:45am
Quoting giveachance
{quote} naveen i am not an expert as you are but with the central banker they have got levels such as 1.58 or 59 if they come are selling opportunities. he will try to keep the currency as low as possible.
people in central banks cannot trade like me
seriously..i dont think so ..i have a longer term target going towards 1.6..but not yet

either double bottom or new low..then buy on weekly/ monthly
  • #344,694
  • Aug 6, 2013 4:48am Aug 6, 2013 4:48am
Quoting nAVIN2007
{quote} people in central banks cannot trade like me seriously..i dont think so ..i have a longer term target going towards 1.6..but not yet

best of luck for your longs. i am short around 1.5370 targeting 1.48 and my stoploss is 1.55

for the aussie i have even lower levels. 0.8600 or so.
  • #344,695
  • Edited 5:11am Aug 6, 2013 4:50am | Edited 5:11am
Quoting giveachance
{quote} best of luck for your longs. i am short around 1.5370 targeting 1.48 and my stoploss is 1.55 for the aussie i have even lower levels. 0.8600 or so.
luck has nothing to do with it..but i wish u good fortune

if it goes to 1.4850..i will longer term buy to 1.6
  • #344,696
  • Aug 6, 2013 5:16am Aug 6, 2013 5:16am
Quoting Freshpips
{quote} Hello nAV, Hope your well... Im currently running a short on GU from 72.... You in yet or you waiting?

Closed @ 1.5335 for +36.
  • #344,697
  • Aug 6, 2013 8:57am Aug 6, 2013 8:57am
I am new member...I want to share what is on my mind. Correct me if I am wrong:
1. I do not use any indicator because every indicator is behind the price, not in front of it.
2. For any indicator to be accurate, there should be majority of traders, especially those big traders, use it. Unfortunately, the big traders do not need an indicator, because they can move the chart by their money.
3. The accuracy of trading the news is 80%. Sometime an anomaly happened with the news: the price down by the good news, and up by the bad ones.

So, any suggestion?
  • #344,698
  • Edited 12:49pm Aug 6, 2013 9:53am | Edited 12:49pm
Quoting poak
I am new member...I want to share what is on my mind. Correct me if I am wrong: 1. I do not use any indicator because every indicator is behind the price, not in front of it. 2. For any indicator to be accurate, there should be majority of traders, especially those big traders, use it. Unfortunately, the big traders do not need an indicator, because they can move the chart by their money. 3. The accuracy of trading the news is 80%. Sometime an anomaly happened with the news: the price down by the good news, and up by the bad ones. So, any suggestion?...

what help would any suggestion give u? and is it important what others believe especially since u have your own idea
I actually disagree with all 3 of yur points
  • #344,699
  • Aug 6, 2013 11:54am Aug 6, 2013 11:54am
Quoting poak
I am new member...I want to share what is on my mind. Correct me if I am wrong: 1. I do not use any indicator because every indicator is behind the price, not in front of it. 2. For any indicator to be accurate, there should be majority of traders, especially those big traders, use it. Unfortunately, the big traders do not need an indicator, because they can move the chart by their money. 3. The accuracy of trading the news is 80%. Sometime an anomaly happened with the news: the price down by the good news, and up by the bad ones. So, any suggestion?...
Ha , The Fairy tale hedge fund stories ..
Pause Video @ 0.06 , you might see something familiar ..
Trust me dude , these guys are mere mortals just like the rest of us ..
they barely make 3-4 % annually , that's if they are lucky ..

And oh , Central Banks can get together and move the market for a few pips, but if
the 3/4 Trillion dollar market doesn't like it , it will push right back ..

We are all SLAVE-TARDs to this beast .... lol

Inserted Video
  • #344,700
  • Aug 6, 2013 12:43pm Aug 6, 2013 12:43pm
Quoting taomql4
{quote} Ha , The Fairy tale hedge fund stories .. Pause Video @ 0.06 , you might see something familiar .. Trust me dude , these guys are mere mortals just like the rest of us .. they barely make 3-4 % annually , that's if they are lucky .. And oh , Central Banks can get together and move the market for a few pips, but if the 3/4 Trillion dollar market doesn't like it , it will push right back .. We are all SLAVE-TARDs to this beast .... lol http://www.youtube.com/watch?v=xuCCeLlodkk

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