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Cable Update (GBPUSD)

  • #348,101
  • Oct 3, 2013 10:18am Oct 3, 2013 10:18am
Quoting Purple
{quote} 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..
Thanks. What is the title of your strategy ? Do you trade using Price Action?
-milkeyway
  • #348,102
  • Oct 3, 2013 10:18am Oct 3, 2013 10:18am
will there be a move up
Forex Learner
  • #348,103
  • Oct 3, 2013 10:19am Oct 3, 2013 10:19am
Very important daily close for cable. We´ve hit all sort of resistance levels and long targets. Candle is engulfing and we´ve had 2 fakey days straight.

http://prntscr.com/1v0cal
  • #348,104
  • Oct 3, 2013 10:20am Oct 3, 2013 10:20am
Quoting rkr81
will there be a move up

isn't 1400 pips from the bottom enough for you or you want 2000 pips
  • #348,105
  • Oct 3, 2013 10:20am Oct 3, 2013 10:20am
Quoting kumaramy
{quote} Thanks. What is the title of your strategy ? Do you trade using Price Action?
I trade fundamentals, using technicals only for entry and exit.
  • #348,106
  • Oct 3, 2013 10:29am Oct 3, 2013 10:29am
Quoting Purple
{quote} I trade fundamentals, using technical only for entry and exit.
Fundamental. That is very hard thing for me for analysis. Actually I am dependent on fully technical analysis Can you please tell me what are the good resources of fundamental around internet? For Ex. Best Website for news, data, etc?
-milkeyway
  • #348,107
  • Oct 3, 2013 10:37am Oct 3, 2013 10:37am
Quoting GqOrlando
Very important daily close for cable. We´ve hit all sort of resistance levels and long targets. Candle is engulfing and we´ve had 2 fakey days straight. http://prntscr.com/1v0cal
What is going on? It seems gbp is under hard pressure. you mean short?
  • #348,108
  • Oct 3, 2013 10:39am Oct 3, 2013 10:39am
Quoting giveachance
{quote} isn't 1400 pips from the bottom enough for you or you want 2000 pips
Don't give up
  • #348,109
  • Oct 3, 2013 10:54am Oct 3, 2013 10:54am
Quoting Ivanqus
{quote} What is going on? It seems gbp is under hard pressure. you mean short?
long targets are hit, move seems to be overextended on sterling

Inserted Video
  • #348,110
  • Oct 3, 2013 10:58am Oct 3, 2013 10:58am
Quoting GqOrlando
{quote} long targets are hit, move seems to be overextended on sterling http://www.youtube.com/watch?v=a01QQZyl-_I
Sorry I'm not native english, you mean short? I like that song!!
  • #348,111
  • Oct 3, 2013 11:03am Oct 3, 2013 11:03am
Quoting JimmyC
GU H1 Would be nice if it did this... Shorts @ cover Chat tomorrow G/L {image}
Fake out, now for the breakout...

Or another bounce
  • #348,112
  • Oct 3, 2013 11:08am Oct 3, 2013 11:08am
Quoting kumaramy
{quote} Fundamental. That is very hard thing for me for analysis. Actually I am dependent on fully technical analysis Can you please tell me what are the good resources of fundamental around internet? For Ex. Best Website for news, data, etc?

Considering that Banks move the market and they base their trading 40% on fundies and only 16% on Tech you should seriously consider paying attention fundamentals more.
Place this simple indicator on your chart and you will get the news on every pair you are trading.Allow DLL
Bloomberg is my favorite and covers just about everything.Avoid sites which forecast.
regards
Attached File(s)
File Type: ex4 FFCal Headlines.ex4   36 KB | 250 downloads
In trading, you have to be defensive and aggressive at the same time
  • #348,113
  • Oct 3, 2013 11:11am Oct 3, 2013 11:11am
Quoting JimmyC
{quote} Fake out, now for the breakout... Or another bounce

Banks unload their orders at most liquid time because the commission is less during peak hours.After London we should be looking more deflation in general.
In trading, you have to be defensive and aggressive at the same time
  • #348,114
  • Oct 3, 2013 11:17am Oct 3, 2013 11:17am
Quoting Davit
{quote} Considering that Banks move the market and they base their trading 40% on fundies and only 16% on Tech you should seriously consider paying attention fundamentals more. Place this simple indicator on your chart and you will get the news on every pair you are trading.Allow DLL Bloomberg is my favorite and covers just about everything.Avoid sites which forecast. regards {file}

Hi, where did you get those numbers from? thanks.
  • #348,115
  • Oct 3, 2013 11:27am Oct 3, 2013 11:27am
Quoting JeremyWS
{quote} Hi, where did you get those numbers from? thanks.

from Dirk du Toit who used to work for Bank.
It makes sense.One can easily see this effect with every news results and if they are progressive then effect is shuttering, example recent bull drive on pound.
Recent good example Lawrence Summers stepping down as Fed candidate resulted huge gaps and serious devaluation of dollar combine with Feds backing off from QE reduction.
In trading, you have to be defensive and aggressive at the same time
  • #348,116
  • Oct 3, 2013 11:36am Oct 3, 2013 11:36am
Quoting Davit
{quote} from Dirk du Toit who used to work for Bank. It makes sense.One can easily see this effect with every news results and if they are progressive then effect is shuttering, example recent bull drive on pound. Recent good example Lawrence Summers stepping down as Fed candidate resulted huge gaps and serious devaluation of dollar combine with Feds backing off from QE reduction.
But man when I posted my analysis back at 1.5550 level for going long for 1.63 you said it was flawed..

http://www.forexfactory.com/showthre...38#post6900338
  • #348,117
  • Oct 3, 2013 11:53am Oct 3, 2013 11:53am
Quoting Purple
{quote} But man when I posted my analysis back at 1.5550 level for going long for 1.63 you said it was flawed.. http://www.forexfactory.com/showthre...38#post6900338

Market proved me wrong. I am humbled now...
In truth almost everyone expected QE reduction in Sept including me and none action came unexpected.That alone contributed pound appreciation coined woth positive data.
Could you have seen it coming? I don't think so.Sometimes one has to say simply "I got lucky"
In trading, you have to be defensive and aggressive at the same time
  • #348,118
  • Oct 3, 2013 11:59am Oct 3, 2013 11:59am
I'm short and going for target 1.5775
New voice message: Why are you calling me? If I need you, I'll call you!
  • #348,119
  • Oct 3, 2013 1:06pm Oct 3, 2013 1:06pm
Quoting Purple
{quote} But man when I posted my analysis back at 1.5550 level for going long for 1.63 you said it was flawed.. http://www.forexfactory.com/showthre...38#post6900338
I still check on your analysis ones in a while to make my trading decision, thanks for the input.
  • #348,120
  • Oct 3, 2013 1:15pm Oct 3, 2013 1:15pm
Quoting macsoj
{quote} I still check on your analysis ones in a while to make my trading decision, thanks for the input.
50/50
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