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Cable Update (GBPUSD)

  • #347,221
  • Sep 18, 2013 11:30pm Sep 18, 2013 11:30pm
Quoting COGnizant
Going to work the GBPUSD tonight at these levels and I like this area as a seller. Sold the 1.6141 level with another 1/2 position - set target for this new position at 1.6121 to thin down the trade size. I have set another target at 1.6111 and final target will be my lower main band. Stop for total position set at 1.6155 level.
Target at 1.6121 filled and stop moved to 1.6135 for remainder of position. Target set at 1.6111 has been moved a bit lower to 1.6106 level and lower main band remains my final target.
  • #347,222
  • Sep 18, 2013 11:32pm Sep 18, 2013 11:32pm
Shorted at 1.6141, stop at be now. Trade only valid below 1.6090 once. Else may tp at support at 1.6095 area.

Price reached my estimated zone of price's target, looking for pull back/retracement, this is just counter-trend. However, GBP retail sales may continue to pump this bull.

Looking at 1.5980 and 1.6000 as potential resistance turns support channel.
  • #347,223
  • Sep 18, 2013 11:36pm Sep 18, 2013 11:36pm
Let's see if they can push this bad boy to 1.73 resistance by years end.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpusdmonthly.png Size: 30 KB
Click to Enlarge Name: gbpusdmonthly1.png Size: 33 KB
Come with me if you want to live....
  • #347,224
  • Sep 18, 2013 11:41pm Sep 18, 2013 11:41pm
Nice higher TF channel coming into view also...
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdmonthly.png Size: 36 KB
Come with me if you want to live....
  • #347,225
  • Sep 18, 2013 11:53pm Sep 18, 2013 11:53pm
Quoting Davit
Few thoughts for Bears Do what you can to sustain maybe possible another 200pips up and you can close some "legs" to alleviate the pressure. Add funds if you can.Whatever you do don't panic and close your shorts now. In just few months we could see 154 again. Last time cable 1.70 was in 2009 and conditions economically are not the same.British economy is weak despite of rosy projections.Much of this happy hysteria I suspect will come down next few months. One way to overcome DD's is to trade with smaller lots and low leverage.Expect the worst...
still not clear for the current situation, perhaps we shall wait and see 1 or 2 more days. Sterling is getting stronger especially no taper for the us. I believe dollar will get strengthen very soon too.
  • #347,226
  • Sep 19, 2013 12:44am Sep 19, 2013 12:44am
Quoting COGnizant
{quote} Target at 1.6121 filled and stop moved to 1.6135 for remainder of position. Target set at 1.6111 has been moved a bit lower to 1.6106 level and lower main band remains my final target.
No follow through tonight and time for sleep - flattened trade at the 1.6128 level to close out trade for small gains.
  • #347,227
  • Sep 19, 2013 3:04am Sep 19, 2013 3:04am
Seem GU will getting stronger..

GU Monthly chart :
Attached Image (click to enlarge)
Click to Enlarge Name: `5.png Size: 11 KB
  • #347,228
  • Sep 19, 2013 3:06am Sep 19, 2013 3:06am
Quoting Ill-b-back
Nice higher TF channel coming into view also... {image}

excellent trade bro..seriously man well done
  • #347,229
  • Sep 19, 2013 3:10am Sep 19, 2013 3:10am
Quoting Davit
Few thoughts for Bears Do what you can to sustain maybe possible another 200pips up and you can close some "legs" to alleviate the pressure. Add funds if you can.Whatever you do don't panic and close your shorts now. In just few months we could see 154 again. Last time cable 1.70 was in 2009 and conditions economically are not the same.British economy is weak despite of rosy projections.Much of this happy hysteria I suspect will come down next few months. One way to overcome DD's is to trade with smaller lots and low leverage.Expect the worst...

yes but dont add more..
also if i may add yur target is the low of this month..if it goes there..it will fall much lower, bear that in mind

lets get lucky
  • #347,230
  • Sep 19, 2013 3:40am Sep 19, 2013 3:40am
Quoting 5percent
Shorted at 1.6141, stop at be now. Trade only valid below 1.6090 once. Else may tp at support at 1.6095 area. Price reached my estimated zone of price's target, looking for pull back/retracement, this is just counter-trend. However, GBP retail sales may continue to pump this bull. Looking at 1.5980 and 1.6000 as potential resistance turns support channel.

i think we have found the top haha
  • #347,231
  • Sep 19, 2013 3:40am Sep 19, 2013 3:40am
Attached Image (click to enlarge)
Click to Enlarge Name: GBP_USD_1111dzienny.png Size: 74 KB
Attached Image (click to enlarge)
Click to Enlarge Name: GBP_USD_dzienny.png Size: 74 KB
  • #347,232
  • Sep 19, 2013 3:43am Sep 19, 2013 3:43am
Quoting Davit
Few thoughts for Bears Do what you can to sustain maybe possible another 200pips up and you can close some "legs" to alleviate the pressure. Add funds if you can.Whatever you do don't panic and close your shorts now. ... {image}
The bear(s) coming home now or not ???
  • #347,233
  • Sep 19, 2013 3:45am Sep 19, 2013 3:45am
i love you pound
short entry 6148 filled
long entry in eurgbp running with stop@BE

Attached Image(s) (click to enlarge)
Click to Enlarge Name: Chart_GBP_USD_5 Mins_snapshot.png Size: 23 KB
Click to Enlarge Name: Chart_EUR_GBP_4 Hours_snapshot.png Size: 25 KB
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  • #347,234
  • Sep 19, 2013 3:48am Sep 19, 2013 3:48am
Quoting _BBKing_
i love you pound short entry 6148 filled long entry in eurgbp running with stop@BE {image} {image}
BBK,

We're on the same train this time. It should head to the Southern station(s)

Good pips for all today
  • #347,235
  • Sep 19, 2013 3:58am Sep 19, 2013 3:58am
G/M,

Big bullish thrust candle on the daily yesterday on back of surprise U.s FOMC announcemnt re no tapering yet...price finding a 6162 hi at the 1st 1/2 of a previous daily swing hi zone extending to 6178. Pullback from there during asian session and so far during London session helped by downside knee-jerk reation to disappointing Uk Retail sales data....38.2% 5956-61662 around the current daily lo.

Price remains in a general opa uptrend 1hr 4hr daily and weekly...and judging from the trade explorer here - some bears bailed out / changed sides...as % of traders short falls to 72%

Potential resistance factors to the upside

6150-62 prev 1hr/minor 4hr swing hi zone (yesterdays hi)
[ 6164-6178 prev daily sw hi zone
[ 6175-6195 weekly desc t/line coming thru on this week's weekly candle (if reached.)
6241 Daily R1 @/around
6278-6309-6349 prev daily/weekly/monthly sw hi zone incl 6278=76.4% 6746-4811, 6309 = Weekly R3 @/around, and 6320-40 = monthly descending t/line coming thru on this month's candle (if reached) including 6338 = Daily R2 @/around
6394 Monthly R3 @/around

testing topside of upside breeched former 4hr rising channel at the low now

G/L
Attached Image (click to enlarge)
Click to Enlarge Name: z.jpg Size: 111 KB
ex member
  • #347,236
  • Sep 19, 2013 4:05am Sep 19, 2013 4:05am
looking for price to retract back to weekly open..
  • #347,237
  • Sep 19, 2013 4:05am Sep 19, 2013 4:05am
Attached Image (click to enlarge)
Click to Enlarge Name: GBP_USD_222dzienny.png Size: 67 KB
  • #347,238
  • Sep 19, 2013 4:07am Sep 19, 2013 4:07am
yesterday's short 6073 closed.
chart now clean.

oh ye! time for relax!
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  • #347,239
  • Sep 19, 2013 4:10am Sep 19, 2013 4:10am
Quoting ForexRatVN
{quote} BBK, We're on the same train this time. It should head to the Southern station(s) Good pips for all today
yep 1.61 area is not that simple and now the first approach have been proved supply.
i suspect further re.test later this/next week so will be careful

but most of all.... EURO at the moment has more room to the upside so eur gbp is worth a consideration till 8460-8480
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  • #347,240
  • Sep 19, 2013 4:14am Sep 19, 2013 4:14am
Quoting nAVIN2007
looking for price to retract back to weekly open..
Navin,

That seems reasonable level you're looking for...

I will feel better if she will head south as deep as 157xx. That is bottom line of daily channel and approx 50% Fibo of September raise so far
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