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Cable Update (GBPUSD)

  • #347,981
  • Oct 2, 2013 8:04am Oct 2, 2013 8:04am
5th wave ending at 1.6325....anybody of a similar opinion?
  • #347,982
  • Oct 2, 2013 8:13am Oct 2, 2013 8:13am
Hmmm, I will still hold my shorts. I cannot see a solid reason for the move that says long will continue.
It is strange ECB conference was delayed and before even Draghi started his announcement EU spiked up already, that is why I still keep shorts and looking for new ones.
  • #347,983
  • Oct 2, 2013 8:17am Oct 2, 2013 8:17am
yesterday's low almost reached, my bias is it will hold

USDOLLAR D1:
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Don't be a hero. Don't have an ego. Always question yourself
  • #347,984
  • Edited 9:29am Oct 2, 2013 9:18am | Edited 9:29am
bears coming ?
Don't give up
  • #347,985
  • Oct 2, 2013 10:14am Oct 2, 2013 10:14am
Quoting geomink
bears coming ?
They are still in Jungle.
-milkeyway
  • #347,986
  • Oct 2, 2013 10:18am Oct 2, 2013 10:18am
Looks like DX futures not going to get a bounce til 79, that's a point away, which could take cable up by more than 100 pips, maybe 150. 1.63 very doable, 1.638 double top is also doable.
I have no clue what I'm talking about.
  • #347,987
  • Oct 2, 2013 10:22am Oct 2, 2013 10:22am
Quoting kumaramy
{quote} They are still in Jungle.

Did not know bears live in Jungles, but it seems man learns new things everyday!
  • #347,988
  • Oct 2, 2013 10:22am Oct 2, 2013 10:22am
Quoting kumaramy
{quote} They are still in Jungle.
it seems
but let's see............ not totally convinced
Don't give up
  • #347,989
  • Oct 2, 2013 10:25am Oct 2, 2013 10:25am
Quoting ravenbg
it seems man learns new things everyday!
this is why life's so beautiful, isn't it?
Don't give up
  • #347,990
  • Oct 2, 2013 11:08am Oct 2, 2013 11:08am
Quoting A-speculator
Triggered short fiber 3530 and long swissy 9140.. tight stop.. sideline still on cable..
oh man.. sl hit.. now it seems pretty dumb to fight this trend.. seems everybody now dumping the usd.. well, will see later..
  • #347,991
  • Oct 2, 2013 11:12am Oct 2, 2013 11:12am
Quoting A-speculator
{quote} oh man.. sl hit.. now it seems pretty dumb to fight this trend.. seems everybody now dumping the usd.. well, will see later..
still holding shorts, sl 1.628xx target 1.55
  • #347,992
  • Oct 2, 2013 11:14am Oct 2, 2013 11:14am
Quoting A-speculator
{quote} oh man.. sl hit.. now it seems pretty dumb to fight this trend.. seems everybody now dumping the usd.. well, will see later..
Yes, good thinking, I hope more traders agree with it
  • #347,993
  • Oct 2, 2013 11:18am Oct 2, 2013 11:18am
Quoting 1pipperhour
{quote} Yes, good thinking, I hope more traders agree with it
yeah.. but without valid trend retracement, i'm pretty nervous to long at this price.. maybe bulls are too strong.. gonna stay sideline and put another try on shorting EG at 8377 with stop just 20pips - just above the previous high in 4h..
  • #347,994
  • Oct 2, 2013 11:21am Oct 2, 2013 11:21am
Quoting mry2001
{quote} still holding shorts, sl 1.628xx target 1.55
Yeap,

I'm also short. We'll see whar BB say !

Good luck,
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  • #347,995
  • Oct 2, 2013 11:21am Oct 2, 2013 11:21am
Quoting mry2001
{quote} still holding shorts, sl 1.628xx target 1.55
target 1.55 eh.. well, not to discourage you, but we're not even below 1.6.. and not to mention you're trading against current trend.. hit and run is ok i think for counter-trend but to swing against the trend is.. i don't know what to say mate..

perhaps maybe 1 step at a time in time like this.. just my 2 pips there..
  • #347,996
  • Oct 2, 2013 11:23am Oct 2, 2013 11:23am
Quoting Mimir
{quote} Yeap, I'm also short. We'll see whar BB say ! Good luck, {image}
well, i kinda agree with how this trade is taken, at least this trade knows where to stop.. good one mate and good luck..
  • #347,997
  • Oct 2, 2013 11:46am Oct 2, 2013 11:46am
Quoting A-speculator
{quote} target 1.55 eh.. well, not to discourage you, but we're not even below 1.6.. and not to mention you're trading against current trend.. hit and run is ok i think for counter-trend but to swing against the trend is.. i don't know what to say mate.. perhaps maybe 1 step at a time in time like this.. just my 2 pips there..
Yes, it is against the trend. I have found trading the range is more profitable than following the breakouts/ trends. It is just me... 1.55 is a tall order. The first target is 1.602xx.
  • #347,998
  • Oct 2, 2013 11:46am Oct 2, 2013 11:46am
in case no one notice, this is double bottom.. credit to mimir for this chart.
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  • #347,999
  • Oct 2, 2013 11:51am Oct 2, 2013 11:51am
Quoting mry2001
{quote} Yes, it is against the trend. I have found trading the range is more profitable than following the breakouts/ trends. It is just me... 1.55 is a tall order. The first target is 1.602xx.
yeah i know, to tell u the truth, i also waiting for the time to enter for 57xx retracement (high of the double bottom) but until now, there's not even a valid bearish candle yet to confirm bears has enter the market.. everytime is higher high and higher low..

i'm thinking to wait for a close below 6160 to confirm the movement has started.. guessing now is the top can be dangerous imho..
  • #348,000
  • Oct 2, 2013 12:28pm Oct 2, 2013 12:28pm
Quoting A-speculator
{quote} yeah i know, to tell u the truth, i also waiting for the time to enter for 57xx retracement (high of the double bottom) but until now, there's not even a valid bearish candle yet to confirm bears has enter the market.. everytime is higher high and higher low.. i'm thinking to wait for a close below 6160 to confirm the movement has started.. guessing now is the top can be dangerous imho..

There is a clear exhaustion signs now.Price is not pushed up by MM and it looks like they are gearing up downtrend once Washington gets its budget in order.
I am certain we will reach 1.55 and that is my TP
At what point downtrend can be classified as downtrend.To me 1.60 200MA weekly draws the border.Under 1.60 is clear downtrend.
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