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Cable Update (GBPUSD)

  • #348,081
  • Oct 3, 2013 8:19am Oct 3, 2013 8:19am
Quoting shripsfx
given the speed and momentum of the decline now...i would stand aside for any longs.
with all this red candles, who is stupid to long!
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  • #348,082
  • Oct 3, 2013 8:39am Oct 3, 2013 8:39am
Quoting fxmasterdxb
{quote} too funny man, as if you are talking chinese or explaining a complicated trading system! any newibi in the street would able to understand your method! anyhow, your method is okay but the chances of missing the trade is very high! probably more than 60%! the reason is pretty simple, what makes you so sure that the broken sturture will be tested again? (i hope you are following me here ) one more thing, the trend line drawn in your chart been rejected twice or maximum three times on a daily chart which for me is no sort of confirmation!...

with this stupid strategy of buying on dips when resistance is not tested for 2-3 times in a day today he surely will clean his account. this is a clear sell. good data from US now will break 1.6160
  • #348,083
  • Oct 3, 2013 8:40am Oct 3, 2013 8:40am
Quoting kumaramy
{quote} What are your views for GBP Purple sir ?
I had accumulated longs from 1.5450, 1.5550 and 1.5750 area with target of 1.63.. if we get a close below 1.6190 today I will lock in my profit at 1.6120 and look for support near 1.5880 for going long again.

A lot depends on Claimant Count along with CBI Sales.. so I will look at those two data from UK closely along with NFP for this month from US to determine whether it is right to buy at dip or establish shorts at the break of 1.5880 level if we get there..
  • #348,084
  • Oct 3, 2013 8:41am Oct 3, 2013 8:41am
now I will add shorts on all dips
  • #348,085
  • Oct 3, 2013 8:43am Oct 3, 2013 8:43am
Quoting fxmasterdxb
{quote} with all this red candles, who is stupid to long! {image}

1.6140 if broken we go to 1.5970
  • #348,086
  • Oct 3, 2013 8:48am Oct 3, 2013 8:48am
Quoting giveachance
{quote} with this stupid strategy of buying on dips when resistance is not tested for 2-3 times in a day today he surely will clean his account. this is a clear sell. good data from US now will break 1.6160
Mate this is his strategy and I'm trying to explain to him how to trade this system more effectively, it seems some people here like to see their money flying in the air!
  • #348,087
  • Oct 3, 2013 8:49am Oct 3, 2013 8:49am
Quoting fxmasterdxb
{quote} Mate this is his strategy and I'm trying to explain to him how to trade this system more effectively, it seems some people here like to see their money flying in the air!

true. but he himself is confused. why is he asking so many people what do you think abt the cable
  • #348,088
  • Oct 3, 2013 8:55am Oct 3, 2013 8:55am
1.61636 is post fed high and had held. if it breaks it may lose 25 pips in no time
  • #348,089
  • Oct 3, 2013 9:01am Oct 3, 2013 9:01am
i thought we would get a print of 55 and I was correct. nothing changes technically jobs data will be good and cable will be still down
  • #348,090
  • Oct 3, 2013 9:02am Oct 3, 2013 9:02am

IMO 79 on the dollar shouldn't be an issue. Likely to see continued weakness throughout the shutdown. There is an expected weak earnings season coming up which should continue to wade risk appetite. The debt ceiling is likely to prolong this. It seems like the GOP aren't playing this time as Obama, again, failed to keep his word as the only spending cuts come from a sequester and government shutdown.


Improving print data out of the UK and EZ should aid in dollar pair movement. And then the market will look for a taper in Oct, Nov and Dec. I have an overall dollar target of just above 78...


For a pessimist, I'm pretty optimistic


Cable getting a pullback, but that's only healthy. I wouldn't suspect a deep decline given much improving data and dollar exiting.

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When the facts change I change my mind, what do you do sir
  • #348,091
  • Oct 3, 2013 9:04am Oct 3, 2013 9:04am
Quoting Pip Anon
IMO 79 on the dollar shouldn't be an issue. Likely to see continued weakness throughout the shutdown. There is an expected weak earnings season coming up which should continue to wade risk appetite. The debt ceiling is likely to prolong this. It seems like the GOP aren't playing this time as Obama, again, failed to keep his word as the only spending cuts come from a sequester and government shutdown. Improving print data out of the UK and EZ should aid in dollar pair movement. And then the market will look for a taper in Oct, Nov and Dec. I have...

and your aussie call of 0.86 has gone for a toss. on rate announcement day also you were bearish. i wonder how many such calls you have made in the past
  • #348,092
  • Oct 3, 2013 9:06am Oct 3, 2013 9:06am
collected 50 on my short @ 1.6175, waiting for new short entry, think USDOLLAR might head down to 10.400 level

USDOLLAR M15:
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ps, which might be a dumb thing to do....
Don't be a hero. Don't have an ego. Always question yourself
  • #348,093
  • Oct 3, 2013 9:12am Oct 3, 2013 9:12am
GU H1

Would be nice if it did this...
Shorts @ cover
Chat tomorrow

G/L
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  • #348,094
  • Oct 3, 2013 9:14am Oct 3, 2013 9:14am
watch out longs. fed high held for now. won't be lucky next time around
  • #348,095
  • Oct 3, 2013 9:16am Oct 3, 2013 9:16am
Quoting giveachance
{quote} and your aussie call of 0.86 has gone for a toss. on rate announcement day also you were bearish. i wonder how many such calls you have made in the past
Are you serious? Clearly, you have missed my MANY, MANY posts of .9300 < I am bullish. Take a look through my 3k posts. You may learn a little. I also made a post indicating the 2x bounce of .88 formed a key support.

You can try and single out a post, but good luck. See, unfortunately unlike you, I move with the market.

Now, I know you were bullish from 1.055, 1.000, .99, .98, .97, .96, .95, .94, .93, .92, .91, .90, .89 but how'd that work for you? Because my posts clearly indicates my capture from top to damn near the bottom when every fool tried to pick a bounce to parity.

Furthermore, from my analysis you would see I have long term objectives and not micro-47 second charts like you, tosser
When the facts change I change my mind, what do you do sir
  • #348,096
  • Oct 3, 2013 9:23am Oct 3, 2013 9:23am
Quoting Pip Anon
{quote} Are you serious? Clearly, you have missed my MANY, MANY posts of .9300 < I am bullish. Take a look through my 3k posts. You may learn a little. I also made a post indicating the 2x bounce of .88 formed a key support. You can try and single out a post, but good luck. See, unfortunately unlike you, I move with the market. Now, I know you were bullish from 1.055, 1.000, .99, .98, .97, .96, .95, .94, .93, .92, .91, .90, .89 but how'd that work for you? Because my posts clearly indicates my capture from top to damn near the bottom when every...

I left trading the aussie two months back and I never bought the aussie at such heights
  • #348,097
  • Oct 3, 2013 9:43am Oct 3, 2013 9:43am
Quoting giveachance
{quote} I left trading the aussie two months back and I never bought the aussie at such heights
That's fine. I bought Aussie twice in 6.5 months. I also posted that the Aussie would tend to squeeze for 100 or so pips, than fade. It's down it several times between .90 and .93. I wouldn't by until .93 + close to ensure there is momentum. And, well, that been decent. Not a homerun, but I'll take doubles. Too many times I have seen people try to pick bottoms and stopped out.

If they tried to pick a bottom 10x with 20 pip stop, that's minus 200 pips, clearly. I may have "missed" .88 to .93, but I made .93 to .95 without initially losing anything. So they would have to make .88 to .93 just to be up 100 pips, and say they got to .95, they'd only have 100 pips more with a lot more headache and frustration assuming their accounts could handle it.
When the facts change I change my mind, what do you do sir
  • #348,098
  • Oct 3, 2013 9:59am Oct 3, 2013 9:59am
Quoting giveachance
now I will add shorts on all dips
You may think of rather adding short on all spikes - or then long on dips. Shorting the dips may not work.
  • #348,099
  • Oct 3, 2013 10:03am Oct 3, 2013 10:03am
Quoting TauTrader
{quote} You may think of rather adding short on all spikes - or then long on dips. Shorting the dips may not work.
Lol probably not.

All it takes is the gloatful leader to talk and watch the markets fall further.
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When the facts change I change my mind, what do you do sir
  • #348,100
  • Oct 3, 2013 10:15am Oct 3, 2013 10:15am
Quoting giveachance
{quote} with this stupid strategy of buying on dips when resistance is not tested for 2-3 times in a day today he surely will clean his account. this is a clear sell. good data from US now will break 1.6160
Buying on deep? In case if you are talking about me, my strategy isn't show it. Strategy has many conditions & confirmations for entering trade.
-milkeyway
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