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Cable Update (GBPUSD)

  • #347,481
  • Sep 25, 2013 9:51am Sep 25, 2013 9:51am
this PA makes me vomit blood, its worst that asia hours...

sell stop below 1.6064 for retracement only, price likely to stall at 1.6030/40 for a likely resistance turns support for closing.

If price cannot close above this level hourly, sell stop retracement likely...

time to sleep.
  • #347,482
  • Sep 25, 2013 9:53am Sep 25, 2013 9:53am
Quoting khol_hands
{quote} Im already loss two years ago (a year before sign in FF) when Im day trader. I changed my mind to be long term. its profitable for me.good luck
Every Trader if got BIG LOSS will got Experience & Learn.

Yes... use Strategy and have own Trading Style is IMPORTANT
Always looking the GREAT, never left GOOD Point...
  • #347,483
  • Sep 25, 2013 10:05am Sep 25, 2013 10:05am
Reverse strategy.
In my previous post i was forecast, GBPUSD will bounce downward from the timeline. But when i spotted price action on TF15, i just close my sell order and open buy extra 1 lot.

How to determine price action?
It depends on your observation and credit hours watching market. The pattern is the same, experience always a leading indicator to make a decision. Whats make me open buy?

1. There is a solid price pattern to break a trendline.
2. In H4 candlestick break higher price of previous candle.
3. Open fibonacci expansion and check the next price resistance.
4. Open buy. depends on your money management.

But to immediate turn on decision and setup its quite hard, i takes me a year and burn some of money before i build my confidence.

Bear in mind always in a calculated risk before you take any decision.



http://3.bp.blogspot.com/-qgLf5wwstx...r-strategy.png
Artist lead and hacks ask for a show of hands.
  • #347,484
  • Sep 25, 2013 10:14am Sep 25, 2013 10:14am
Quoting al_yaqen
Reverse strategy. In my previous post i was forecast, GBPUSD will bounce downward from the timeline. But when i spotted price action on TF15, i just close my sell order and open buy extra 1 lot. How to determine price action? It depends on your observation and credit hours watching market. The pattern is the same, experience always a leading indicator to make a decision. Whats make me open buy? 1. There is a solid price pattern to break a trendline. 2. In H4 candlestick break higher price of previous candle. 3. Open fibonacci expansion and check...


Trend is your friend... more Higher Time Frime (TF) more Stronger.
But don't forget, Started Lower TF will Changes the Trend...

Price Action more useful for TRADE ! Need to learn, experience and know Market's run
Always looking the GREAT, never left GOOD Point...
  • #347,485
  • Sep 25, 2013 10:54am Sep 25, 2013 10:54am
I clearly remember those calling 1.34 gbp/usd. when price was below 1.50. What happened ? hahahah
here we are over 1000 pips from those lows. hope you didn't sell much down there. This can go easily to 1.63 now before any correction
  • #347,486
  • Sep 25, 2013 11:20am Sep 25, 2013 11:20am
When pounds will be tumble back?
  • #347,487
  • Sep 25, 2013 11:22am Sep 25, 2013 11:22am
Very similar macro outlook as before, CESI lead the GBP in declining.
Attached Image (click to enlarge)
Click to Enlarge Name: CESI vs GBP.png Size: 71 KB
  • #347,488
  • Sep 25, 2013 11:40am Sep 25, 2013 11:40am
Quoting JeremyWS
Very similar macro outlook as before, CESI lead the GBP in declining. {image}
wow nice! So should be just patient and wait for it to tumble.
  • #347,489
  • Sep 25, 2013 2:12pm Sep 25, 2013 2:12pm
1st test hold and bounce of the steepest 4hr ascending trend line at today's current and likely lo...The daily candle very likely to close bullishly too. The 4hr descending trend line was breeched convincingly to the upside, price making back almost 61.8% of the 6162-5954 fall now, at the current daily hi.

Final Uk Q2 Gdp # tomorrow and any improvement on the 0.7% figure could see more upside for this pairing whilst a downgrade on the final # could see the opposite, on the knee-jerk (+?) react. Uk current a/c data released at same time (0920 London) Then Final U.s Gdp later and the most likely opposite reaction on the knee-jerk (+?) given the scenarios outlined.


What now for the bears ? - just as the fall to 5954 encouraged others to the short side ? Grin and 'bear' it whilst holding or switch to the long side ?

G/L
ex member
  • #347,490
  • Sep 25, 2013 4:16pm Sep 25, 2013 4:16pm
My chart H8:
Attached Image (click to enlarge)
Click to Enlarge Name: GU H8.PNG Size: 148 KB
deep RoT is essential for everlasting happyness
  • #347,491
  • Sep 25, 2013 4:22pm Sep 25, 2013 4:22pm
gbp/usd signal

buy stop at 1.6119

stop loss at 1.6010

take profit at 1.6228
  • #347,492
  • Sep 25, 2013 8:22pm Sep 25, 2013 8:22pm
h4 cable weak? will it go down now?
  • #347,493
  • Sep 25, 2013 8:41pm Sep 25, 2013 8:41pm
Quoting Tiyaga
h4 cable weak? will it go down now?
Tiyaga, good to see you again on this thread. Haha. Try positioning yourself with a stop loss above 1.6190 and wait for a potential downside move. This maybe a stop larger than most traders on this forum would put, but it's what fund traders do: longer time frames and larger stops to prevent spread hunting. Good luck.
Data Miner
  • #347,494
  • Sep 25, 2013 8:47pm Sep 25, 2013 8:47pm
im still waiting for a strong bear h1 trend then a weaker bull trend on h4 then ill go short.
  • #347,495
  • Sep 25, 2013 8:58pm Sep 25, 2013 8:58pm
bull weak
  • #347,496
  • Sep 25, 2013 9:37pm Sep 25, 2013 9:37pm
Quoting Tiyaga
bull weak
Bear to 1.6038????
even better than mama
  • #347,497
  • Sep 25, 2013 11:32pm Sep 25, 2013 11:32pm
The dredging News again 4.30amEST
Despite of all technicals markets are driven by news.Its pretty evident.On every 100pips up there was some good news about GB or bad news about US.
With positive news so far exception of retail sales I think we could see another positive one tonight and that is why price is not falling.Expectation is positive.
This is not Bear country now sadly.
In trading, you have to be defensive and aggressive at the same time
  • #347,498
  • Sep 26, 2013 12:03am Sep 26, 2013 12:03am
Quoting Davit
The dredging News again 4.30amEST Despite of all technicals markets are driven by news.Its pretty evident.On every 100pips up there was some good news about GB or bad news about US. With positive news so far exception of retail sales I think we could see another positive one tonight and that is why price is not falling.Expectation is positive. This is not Bear country now sadly.
So pounds will be up some more?
  • #347,499
  • Sep 26, 2013 12:22am Sep 26, 2013 12:22am
Quoting Care forex
{quote}So pounds will be up some more?

Yes if the news is positive (Current Affair)and morning news on unemployment nagative on US.
Nobody knows exactly what will happen but outcome of news will be a CATALYST if we are heading past 1.61 or going back 1.60 1.58 to 1.55
Having said this keep in mind that GB economy is still weak so I don't expect dramatic raise of the pound.Much of recent UP trend was fueled by Feds cowardly none actions after repeatdily declaring QE reduction and doing nothing.
I am looking for Hawkish Feds leadership after Bernanke.
In trading, you have to be defensive and aggressive at the same time
  • #347,500
  • Sep 26, 2013 12:32am Sep 26, 2013 12:32am
Quoting Davit
{quote} Yes if the news is positive (Current Affair)and morning news on unemployment nagative on US. Nobody knows exactly what will happen but outcome of news will be a CATALYST if we are heading past 1.61 or going back 1.60 1.58 to 1.55 Having said this keep in mind that GB economy is still weak so I don't expect dramatic raise of the pound.Much of recent UP trend was fueled by Feds cowardly none actions after repeatdily declaring QE reduction and doing nothing. I am looking for Hawkish Feds leadership after Bernanke.
Unpredictable. Very excited now as GDP from uk is coming soon later.
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