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Cable Update (GBPUSD)

  • #345,501
  • Aug 19, 2013 11:33am Aug 19, 2013 11:33am
Quoting Lattepips
{quote} Sorry I meant daily TF do you think this pair over extended it gains? Market getting the wrong concept? What is ur opinion?

I posted my chart. To me 5725-58+ starts selling zone.Not that it can't reverse at anytime now until 5725+ but its a nice round number which has confluence with previous high.

As a suggestion Don't place all your money at once.Take your usual lot and divide in 4parts or 4mini lots
Now you can start selling from now and 58.Since we don't know exactly what point price will turn you are assured that you have a position open.
You must except that DD will occur but since its 25% of your lot its manageable.Price goes 5725 add another 25% 5750 another 58another then wait.
This requires strong nerves not for everyone.To me DD is part of trading and to me price is a zone hence my spread is part of my trading plan.
Think another way average 20pip SL gets hit just about constantly and this is number 1 account killer..If you get 4x20pip SL then you will psychologically A.Be more afraid of market B. forced to over trade to compensate the losses.In short tight SL is not a good idea.
This is how I trade.I am just sharing for what is worth.
In trading, you have to be defensive and aggressive at the same time
  • #345,502
  • Aug 19, 2013 11:59am Aug 19, 2013 11:59am
Quoting Davit
{quote} I posted my chart. To me 5725-58+ starts selling zone.Not that it can't reverse at anytime now until 5725+ but its a nice round number which has confluence with previous high. As a suggestion Don't place all your money at once.Take your usual lot and divide in 4parts or 4mini lots Now you can start selling from now and 58.Since we don't know exactly what point price will turn you are assured that you have a position open. You must except that DD will occur but since its 25% of your lot its manageable.Price goes 5725 add another 25% 5750...
good day mate,

imho, better wait for downside momentum first.. let the price show her card first and we follow later.. safer this way i think..
  • #345,503
  • Aug 19, 2013 12:15pm Aug 19, 2013 12:15pm
5673 the current daily hi and a test of the previous 1hr swing hi zone created by the current daily hi hi (this in the previous 4hr swing hi zone from 19/6) has seen price repelled from this zone after the pullback to 5633 where demand was encountered and subsequent 1st test of it. Price remains in a general opa uptrend on 1hr 4hr and daily.

Bulls struggling at this level. Price at only 54% of 20day atr so far today. So far this month at 113% of 20 month atr.

G/L
ex member
  • #345,504
  • Aug 19, 2013 12:17pm Aug 19, 2013 12:17pm
Quoting A-speculator
{quote} good day mate, imho, better wait for downside momentum first.. let the price show her card first and we follow later.. safer this way i think..

True that is why I use limit orders only.This way you set on the numbers which has high probability trade then forget about it.
Example of it
When triggered is the right time...in essence limit orders are best overlooked weapon which lot of traders overlook.It guarantees filled at exact number not market delay or you seating front of PC all day long waiting for it..
Regards
Attached Image (click to enlarge)
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In trading, you have to be defensive and aggressive at the same time
  • #345,505
  • Aug 19, 2013 1:15pm Aug 19, 2013 1:15pm
Quoting Davit
{quote} True that is why I use limit orders only.This way you set on the numbers which has high probability trade then forget about it. Example of it When triggered is the right time...in essence limit orders are best overlooked weapon which lot of traders overlook.It guarantees filled at exact number not market delay or you seating front of PC all day long waiting for it.. Regards {image}
yeah, for that pair i prefer buying after price closed above 9280.. i'm not that brave ..
  • #345,506
  • Aug 19, 2013 1:27pm Aug 19, 2013 1:27pm
ohya, does anyone here still take consideration and think tank the fundamentals?
actually nothing wrong here, just want to share my thoughts
  • #345,507
  • Aug 19, 2013 1:31pm Aug 19, 2013 1:31pm
update : top formation continues , will see next day if already over or not .
fontu
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: gbpusdh4.png Size: 35 KB
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #345,508
  • Aug 19, 2013 4:33pm Aug 19, 2013 4:33pm
Quoting Davit
{quote} I posted my chart. To me 5725-58+ starts selling zone.Not that it can't reverse at anytime now until 5725+ but its a nice round number which has confluence with previous high. As a suggestion Don't place all your money at once.Take your usual lot and divide in 4parts or 4mini lots Now you can start selling from now and 58.Since we don't know exactly what point price will turn you are assured that you have a position open. You must except that DD will occur but since its 25% of your lot its manageable.Price goes 5725 add another 25% 5750...
Davit, I think the approach you described in layering into a zone, whether sell or buy, by breaking it up in 4 parts is an excellent way to assure you are in when the reversal occurs. This way, if you are asleep and the turn hits, your in the trade and can add to as you see the opportunity. Good stuff.
It's the simple things in life that have the most powerful meaning.
  • #345,509
  • Aug 19, 2013 5:03pm Aug 19, 2013 5:03pm
Possible pullback to 50EMA. Opened Short 1.5665 TP 1.5606 SL 1,5675. Now at b/e.
Attached Image (click to enlarge)
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  • #345,510
  • Aug 19, 2013 5:57pm Aug 19, 2013 5:57pm
http://my.jetscreenshot.com/demo/20130819-ya8w-100kb

I'm in it short and have been for a day or so. If it goes up I will sell again at 5750
  • #345,511
  • Aug 19, 2013 7:30pm Aug 19, 2013 7:30pm
Quoting lebleup
{quote} Davit, I think the approach you described in layering into a zone, whether sell or buy, by breaking it up in 4 parts is an excellent way to assure you are in when the reversal occurs. This way, if you are asleep and the turn hits, your in the trade and can add to as you see the opportunity. Good stuff.

thanks Lebleup
Just a tip look at GBP/CAD as well and Eur/CAD both are getting real attractive to sell.
I have 15 positions on GC but waiting for 3850 on EC
Regards
In trading, you have to be defensive and aggressive at the same time
  • #345,512
  • Aug 19, 2013 7:36pm Aug 19, 2013 7:36pm
Quoting A-speculator
{quote} yeah, for that pair i prefer buying after price closed above 9280.. i'm not that brave ..
To me idea of trading in basic essence is buy low sell high
To wait until 9280 to me is missing lot of pips.You have to stop buying at retail prices....instead look where pros are buying.
Regards
In trading, you have to be defensive and aggressive at the same time
  • #345,513
  • Aug 19, 2013 8:02pm Aug 19, 2013 8:02pm
Quoting Davit
{quote} To me idea of trading in basic essence is buy low sell high To wait until 9280 to me is missing lot of pips.You have to stop buying at retail prices....instead look where pros are buying. Regards
well mate, the idea is to have confirmation first, no point to gamble on something we're not sure of.. and i hate having large drawdowns..

by daily and weekly pattern, i think that pair will go up, just need to be sure first, let the price show its true color before planning on the entry.. imho.
  • #345,514
  • Aug 19, 2013 8:51pm Aug 19, 2013 8:51pm
Quoting A-speculator
{quote} well mate, the idea is to have confirmation first, no point to gamble on something we're not sure of.. and i hate having large drawdowns.. by daily and weekly pattern, i think that pair will go up, just need to be sure first, let the price show its true color before planning on the entry.. imho.

however it suits you.Green pips
In trading, you have to be defensive and aggressive at the same time
  • #345,515
  • Aug 19, 2013 9:12pm Aug 19, 2013 9:12pm
Quoting A-speculator
{quote} well mate, the idea is to have confirmation first, no point to gamble on something we're not sure of.. and i hate having large drawdowns.. by daily and weekly pattern, i think that pair will go up, just need to be sure first, let the price show its true color before planning on the entry.. imho.
Very wise and mature....I like it, ...this is the first thing for traders must learn.....
Goodluck mate
  • #345,516
  • Aug 20, 2013 12:38am Aug 20, 2013 12:38am
Indian market fell 1,060 points (about 5.5%) in the last 2 days. Today also dropped about 270 points (about 1.5%). Rupee dropped to record low at 63.30 against USD yesterday.

Indonesia is similar. In the last 3 trading days, Jakarta SE went down from 4685 to 4,100 now, a fall of 585 points (12.4%). Today alone is about 213 points down or about 5%.

At the same time, bond yields continued to creep higher amid chatter that the Federal Reserve could begin winding down its stimulus sooner rather than later. See CNN report:

Bond bubble finally bursting? Rates creep up:

http://money.cnn.com/2013/08/19/inve...ets/index.html
  • #345,517
  • Aug 20, 2013 1:56am Aug 20, 2013 1:56am
Turmoils of possible top formation still continues , that is no decision yet to say .
gu breaks if at 5533 can say as start & then will next limits /targets come forwards are 5626/5607 & 5493 again , immediate term . all downside & upside breaks 5657 & 75 towards 5700 + , 5720-50!!
take care within all immediate ranges .

gold also at similar ranges , breaks 1346/44 targets/limits for up for down or another spike up to see .
eu also having similar situation for some more time & waiting 4 decision also , & should be most interesting when active .
fontu
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #345,518
  • Aug 20, 2013 3:00am Aug 20, 2013 3:00am
G/M,

Small pip range (< 20 day atr) bullish bodies daily candle yesterday but very spinning toppish ? Pullback off yesterday's 5672 hi reached an Asian session lo of 5637 before a run up then to 5656 then another drop to 5627 where demand has been encountered in early London/European session trading resulting in a run up to challenge that 30min swing hi at 5656.

4hr and daily remain in general uptrends, with 1hr mixed (- bullish ?)now...last 1hr candle print bullish of itself though. No known Uk event risks today.

G/L
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ex member
  • #345,519
  • Aug 20, 2013 3:01am Aug 20, 2013 3:01am
Quoting siewhf
Indian market fell 1,060 points (about 5.5%) in the last 2 days. Today also dropped about 270 points (about 1.5%). Rupee dropped to record low at 63.30 against USD yesterday. Indonesia is similar. In the last 3 trading days, Jakarta SE went down from 4685 to 4,100 now, a fall of 585 points (12.4%). Today alone is about 213 points down or about 5%. At the same time, bond yields continued to creep higher amid chatter that the Federal Reserve could begin winding down its stimulus sooner rather than later. See CNN report: Bond bubble finally bursting?...
What a mess.

Can the FED taper permanently. They might temporally but once the fallout happens they surely must start again. The time to say this is it is when the FED print and bonds are still rising. Then it's game over, they will panic and print even more until we get a new Bretton Woods agreement and the US most likely losing reserve status.
  • #345,520
  • Aug 20, 2013 3:19am Aug 20, 2013 3:19am
That's quite a fundie prediction lol - you might be right - you might be wrong - time will tell....armagedon awaits ?

G/L

Quoting neil324
{quote} What a mess. Can the FED taper permanently. They might temporally but once the fallout happens they surely must start again. The time to say this is it is when the FED print and bonds are still rising. Then it's game over, they will panic and print even more until we get a new Bretton Woods agreement and the US most likely losing reserve status.
ex member
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