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Cable Update (GBPUSD)

  • #345,021
  • Aug 12, 2013 9:41am Aug 12, 2013 9:41am
looks like bloody asian session atm. aint no use watchin the chart. either way we enter,we lose.
  • #345,022
  • Aug 12, 2013 10:45am Aug 12, 2013 10:45am
Quoting Davit
{quote} There is not whole lot of fundamentals for Cable to get that high.With Sept 18 coming up and almost certain QE reduction we could see cable even under 1.50 I could be wrong.I've seen price move up irrationally before. Short Target 5350 10pips buffer
agree
infact i thinking this thing is gonna tank hard...USD i reckon is going to be bought like crazy..looking for something below 1.5
  • #345,023
  • Aug 12, 2013 11:19am Aug 12, 2013 11:19am
Quoting nAVIN2007
{quote} agree infact i thinking this thing is gonna tank hard...USD i reckon is going to be bought like crazy..looking for something below 1.5
Nav - spot on. just early. The number you are looking for is 1.4962

Regards
  • #345,024
  • Aug 12, 2013 11:28am Aug 12, 2013 11:28am
Closed all my current GU shorts at 5470 with 5x30pips +150pips.
Moved my short targets 5650 and up.I am not taking chance on News tonight.In case positive most likely my limit shorts will get triggered

My limit shorts on GU 2x5650 2x57 2x5750
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: gbpusdm15.png Size: 32 KB
In trading, you have to be defensive and aggressive at the same time
  • #345,025
  • Aug 12, 2013 11:34am Aug 12, 2013 11:34am
Quoting TauTrader
{quote} Nav - spot on. just early. The number you are looking for is 1.4962 Regards
mR t..i think we have seen the top..i see where u get yur number from but i see a break south of the diamond so im looking at 1.46 or 1.42 something along these lines but i might just exit early..i dont have the strength to hold incase it goes tits up

basically think the diamond wont be able to rebound price as USD is likely to be bought big
Attached Image (click to enlarge)
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  • #345,026
  • Aug 12, 2013 11:36am Aug 12, 2013 11:36am
Quoting nAVIN2007
{quote} mR t..i think we have seen the top..i see where u get yur number from but i see a break south of the diamond so im looking at 1.46 or 1.42 something along these lines but i might just exit early..i dont have the strength to hold incase it goes tits up

We could see a positive number on CPI and move this up maybe 56 and higher.I closed my shorts because I know better not to trade news.
In trading, you have to be defensive and aggressive at the same time
  • #345,027
  • Aug 12, 2013 11:36am Aug 12, 2013 11:36am
Quoting nAVIN2007
{quote} mR t..i think we have seen the top..i see where u get yur number from but i see a break south of the diamond so im looking at 1.46 or 1.42 something along these lines but i might just exit early..i dont have the strength to hold incase it goes tits up {image}


Agreed 1.42 will hold for the long term though and become a base of support that will see cable back up in the 1.7's

5 years out of course.
Money never sleeps...
  • #345,028
  • Aug 12, 2013 11:37am Aug 12, 2013 11:37am
Quoting Davit
Closed all my current GU shorts at 5470 with 5x30pips +150pips. Moved my short targets 5650 and up.I am not taking chance on News tonight.In case positive most likely my limit shorts will get triggered My limit shorts on GU 2x5650 2x57 2x5750 {image} {image}
@Davit:

Bravo That's it - Let the market come to you.

Well done on taking those profits.



We have the same limit orders set almost.
  • #345,029
  • Aug 12, 2013 11:37am Aug 12, 2013 11:37am
Quoting Davit
Closed all my current GU shorts at 5470 with 5x30pips +150pips. Moved my short targets 5650 and up.I am not taking chance on News tonight.In case positive most likely my limit shorts will get triggered My limit shorts on GU 2x5650 2x57 2x5750 {image} {image}

Well played,

same orders for me but commencing at 1.56, 1.565, 1.57

GL
Money never sleeps...
  • #345,030
  • Aug 12, 2013 11:40am Aug 12, 2013 11:40am
Quoting HDA
{quote} @Davit: Bravo That's it - Let the market come to you. Well done on taking those profits. We have the same limit orders set almost.

Thanks HDA
I also added Swissy long limits at 9230 92 9150 inspiration was from you
my 1st Swissy trade ever.

Stephane
Great trading on Oil! Lets milk this forex market!
In trading, you have to be defensive and aggressive at the same time
  • #345,031
  • Aug 12, 2013 11:40am Aug 12, 2013 11:40am
Quoting Davit
{quote} We could see a positive number on CPI and move this up maybe 56 and higher.I closed my shorts because I know better not to trade news.
thats likely.. but i think theres an intervention to keep gbp strength low..it broke the trendline (or formed the right trendline, holding PA down) but there was no buying power..it should have taken off..it will be interesting
Attached Image (click to enlarge)
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  • #345,032
  • Aug 12, 2013 11:40am Aug 12, 2013 11:40am
Quoting Davit
Closed all my current GU shorts at 5470 with 5x30pips +150pips. Moved my short targets 5650 and up.I am not taking chance on News tonight.In case positive most likely my limit shorts will get triggered My limit shorts on GU 2x5650 2x57 2x5750 {image} {image}

I am watching similar setup and waiting....

Daily chart so expect a little throwover, and could get those higher levels.
Attached Image (click to enlarge)
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The world you desire can be won. It exists.. it is real.. it is possible..
  • #345,033
  • Aug 12, 2013 11:42am Aug 12, 2013 11:42am
Quoting nAVIN2007
{quote} mR t..i think we have seen the top..i see where u get yur number from but i see a break south of the diamond so im looking at 1.46 or 1.42 something along these lines but i might just exit early..i dont have the strength to hold incase it goes tits up {image}
good day, The NAV-

I see.. 1.4962 is confirmed, however. But so is 1.5845.. I'm long and deep in the red.. I think we will drop to 1.5377 - 1.5348 first. Will see.

Tits up would be awesome ( to observe - nothing else)

Regards
  • #345,034
  • Aug 12, 2013 11:45am Aug 12, 2013 11:45am
Quoting Davit
{quote} Thanks HDA I also added Swissy long limits at 9230 92 9150 inspiration was from you my 1st Swissy trade ever.
@Davit:

You are too kind - Thank you.

Please remember to take some of your profits at every support level on the GBP/USD to take some of your profits at every resistance level on the USD/CHF.



I am also learning from you too - Thanks
  • #345,035
  • Aug 12, 2013 11:46am Aug 12, 2013 11:46am
Quoting Mr. Scott
{quote} I am watching similar setup and waiting.... Daily chart so expect a little throwover, and could get those higher levels. {image}

Hi Scott
I saw your post at Alfonso's thread and funny how this newbies get rattled as soon as they hear Harmonics
I am with you on your number.
In trading, you have to be defensive and aggressive at the same time
  • #345,036
  • Aug 12, 2013 11:46am Aug 12, 2013 11:46am
Quoting TauTrader
{quote} good day, The NAV- I see.. 1.4962 is confirmed, however. But so is 1.5845.. I'm long and deep in the red.. I think we will drop to 1.5377 - 1.5348 first. Will see. Tits up would be awesome ( to observe - nothing else) Regards
i hope it works out bro!!..anything is possible but the first hurdle u have is that weekly trendline
  • #345,037
  • Aug 12, 2013 11:48am Aug 12, 2013 11:48am
Quoting Davit
{quote} Hi Scott I saw your post at Alfonso's thread and funny how this newbies get rattled as soon as they hear Harmonics I am with you on your number.

Hi my friend,

Glad you saw it, was not sure, so posted here. Just an idea.

To each his own, I see it as s/d trading with confluence.

Regards,
Scott
The world you desire can be won. It exists.. it is real.. it is possible..
  • #345,038
  • Aug 12, 2013 12:09pm Aug 12, 2013 12:09pm
good entry for short..tiny stop like 10 pips max
Attached Image (click to enlarge)
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  • #345,039
  • Aug 12, 2013 12:10pm Aug 12, 2013 12:10pm
Quoting inpatient
{quote} HDA - Great to hear from you buddy. Yes there are actually quite a few similarities to the way both I and Davit think and trade. Would have been happy shorting cable from 1.55 plus but I had set some orders from 1.56 plus as a far better entry. Not too concerned if we have already hit the high because im again loaded up short on oil (5th time now). Oil has given me three months of account gain (10% each month). Oil is a favorite of mine. Im actually still short two trades on EU too waiting for another dip beneath 1.31. Good to see your post...
@inpatient:

Well done -

I'm now aware of THREE limit order traders.

Davit
Inpatient
panoramia

Lets see what happens.

And remember to take profit at every support area on the way down.

So you are to automatically set your take profits in your original limit order

or

You can wait till your limit order is triggered and then look for the support level to take profit and set your take profit immediately once you've identified the support level.
  • #345,040
  • Aug 12, 2013 12:10pm Aug 12, 2013 12:10pm
Guys few thoughts that will help to make money or exploit the weak currency at its fullest.
If GU reaches say 57 and starts falling.Make sure check other pairs as well specially GBP/CAD GBP/JPY GBP/NZD because often cross pairs travel lot further.
I specially love CAD pairs. CAD pairs have been in price channel for long time and to me its perfect candidate to trade.I like pairs that are stuck in a channel.
When you except the fact that 80% forex is not trending then things become lot more clear and simple.
This is why I don't pay attention to candles and lot of other factors that lot of traders fuss about.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpcad.weekly.png Size: 49 KB
In trading, you have to be defensive and aggressive at the same time
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