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Cable Update (GBPUSD)

  • #348,361
  • Oct 8, 2013 8:54am Oct 8, 2013 8:54am
Any idea why it climb without volume now?
  • #348,362
  • Oct 8, 2013 8:59am Oct 8, 2013 8:59am
Quoting ravenbg
Any idea why it climb without volume now?

short stoplosses, long market orders, long orders
All posts are my personal opinion
  • #348,363
  • Oct 8, 2013 9:09am Oct 8, 2013 9:09am
Quoting edindzeko
{quote} EW and Gartley along with the credit analysis posted previously by JeremyWS
your call mate, i wouldnt short a pair trending up unless if its for a quick scalp and IF certain conditions apply.

but that's only me

wish you all the best
Attached Image (click to enlarge)
Click to Enlarge Name: GU.gif Size: 14 KB
  • #348,364
  • Oct 8, 2013 9:21am Oct 8, 2013 9:21am
Quoting fxmasterdxb
{quote} your call mate, i wouldnt short a pair trending up unless if its for a quick scalp and IF certain conditions apply. but that's only me wish you all the best {image}
Until price has posted a lower high on the daily and broken 1.6 with conviction, I would agree with your sentiment. However, we are near weekly and monthly highs, an area where sellers have taken this pair down again in the past, so I can see why bears are chomping at the bit. Fundamentally, the UK is seeing some short-term growth numbers but the big question is whether they are sustainable. GBP pairs have had a good run in 2013 since touching some all time lows but I question whether these runs are sustainable and we might see some big corrections before year end. Time will tell.
  • #348,365
  • Oct 8, 2013 9:21am Oct 8, 2013 9:21am
Quoting fxmasterdxb
{quote} your call mate, i wouldnt short a pair trending up unless if its for a quick scalp and IF certain conditions apply. but that's only me wish you all the best {image}
watch GU fall tomorrow
  • #348,366
  • Oct 8, 2013 9:26am Oct 8, 2013 9:26am
Quoting fxmasterdxb
{quote} your call mate, i wouldnt short a pair trending up unless if its for a quick scalp and IF certain conditions apply. but that's only me wish you all the best {image}

Why wouldn't you short as the market is going up? You would sell your house as the market goes up. Why not sell a currency when the market goes up?
  • #348,367
  • Oct 8, 2013 9:26am Oct 8, 2013 9:26am
Quoting bbakker
{quote} Until price has posted a lower high on the daily and broken 1.6 with conviction, I would agree with your sentiment. However, we are near weekly and monthly highs, an area where sellers have taken this pair down again in the past, so I can see why bears are chomping at the bit. Fundamentally, the UK is seeing some short-term growth numbers but the big question is whether they are sustainable. GBP pairs have had a good run in 2013 since touching some all time lows but I question whether these runs are sustainable and we might see some...

Hi Bro..yes i agree i think GU will fall below 1.5 but it will take next year..the move up i personally think is a retest of the traingle we broke out of..market is just waiting for news to come in weak and GU will tank
  • #348,368
  • Oct 8, 2013 9:27am Oct 8, 2013 9:27am
Quoting lonewolf1
{quote} Why wouldn't you short as the market is going up? You would sell your house as the market goes up. Why not sell a currency when the market goes up?
it all depend on yur time frame
  • #348,369
  • Oct 8, 2013 9:29am Oct 8, 2013 9:29am
Quoting bbakker
{quote} Until price has posted a lower high on the daily and broken 1.6 with conviction, I would agree with your sentiment. However, we are near weekly and monthly highs, an area where sellers have taken this pair down again in the past, so I can see why bears are chomping at the bit. Fundamentally, the UK is seeing some short-term growth numbers but the big question is whether they are sustainable. GBP pairs have had a good run in 2013 since touching some all time lows but I question whether these runs are sustainable and we might see some big...
cant agree more my point is why the rush and the bearish sentiment if there are no signs of reversal
  • #348,370
  • Oct 8, 2013 9:31am Oct 8, 2013 9:31am
Quoting nAVIN2007
{quote} watch GU fall tomorrow
why not? it could fall harder than it did last week i'm sure you wouldnt short until and unless signs of reversal shows up, i see everyone so excited to short and discussing the best area to sell while PA keeps heading higher!

anyway that is my opinion and i could be wrong.

all the best mate
  • #348,371
  • Oct 8, 2013 9:35am Oct 8, 2013 9:35am
Quoting lonewolf1
{quote} Why wouldn't you short as the market is going up? You would sell your house as the market goes up. Why not sell a currency when the market goes up?
what makes you so sure we are at the top? did you see any reversal signals?

the example you provided is quite different than trading because with assets it is only buying and selling once price hikes while in trading you have both options, sell a pair or buy a pair until a reversal signal triggers up then you simply switch to the other side of the boat and vice verca.

again I have to stress on the point that i'm not against longing/shorting any pair as long as PA is indicating the same

all the best
  • #348,372
  • Oct 8, 2013 9:37am Oct 8, 2013 9:37am
Quoting fxmasterdxb
{quote} why not? it could fall harder than it did last week i'm sure you wouldnt short until and unless signs of reversal shows up, i see everyone so excited to short and discussing the best area to sell while PA keeps heading higher! anyway that is my opinion and i could be wrong. all the best mate


exactly my thoughts, im looking for good spots to get in long! Just got out with tiny loss but no harm done! Going into choppy time probably wont watch it anymore plus have other trades going.
All posts are my personal opinion
  • #348,373
  • Oct 8, 2013 9:38am Oct 8, 2013 9:38am
Quoting fxmasterdxb
{quote} your call mate, i wouldnt short a pair trending up unless if its for a quick scalp and IF certain conditions apply. but that's only me wish you all the best {image}
Thanks, I already have stops at BE anyway so its a free trade at this point but I'm looking for sub 1.60 really

We are on different sides anyway, I'm long UJ too so I can see why you are not short GU
  • #348,374
  • Oct 8, 2013 9:41am Oct 8, 2013 9:41am
Quoting Rtm
{quote} exactly my thoughts, im looking for good spots to get in long! Just got out with tiny loss but no harm done! Going into choppy time probably wont watch it anymore plus have other trades going.
well im considering a long @ 1.6100 if i see rejections in 15 mins candles followed with hourly close above the same rate.

but again i would evaluate the situation at that time and accordingly decide to or not to take the trade

Good luck mate
  • #348,375
  • Oct 8, 2013 9:46am Oct 8, 2013 9:46am
Quoting edindzeko
{quote} Thanks, I already have stops at BE anyway so its a free trade at this point but I'm looking for sub 1.60 really We are on different sides anyway, I'm long UJ too so I can see why you are not short GU
this bastard pair has driven me crazy today, i shorted 97.07 with SL at 97.45, it kept going in ackward move as USD was sold across the board, however UJ was countuing the move up lol, i have no idea who was selling yen so heavily! seriosuly all yen pairs were flying lol

anyway i closed the position and decided to stay away for the yen pairs for a little while
  • #348,376
  • Oct 8, 2013 9:46am Oct 8, 2013 9:46am
Quoting fxmasterdxb
{quote} why not? it could fall harder than it did last week i'm sure you wouldnt short until and unless signs of reversal shows up, i see everyone so excited to short and discussing the best area to sell while PA keeps heading higher! anyway that is my opinion and i could be wrong. all the best mate

I think and my perspective on trading is generally do the opposite to what appears to happen short term..i look at the big picture and try and play the extreme..if today i see a doji on dailly..it will be great thing for me..indecision on yesterday will give the bear a reason to try

I am probably wrong but the market is going to have to prove it to me because i aint budging..lol

i hope this is a right shoulder forming on daily..breaking (looking for) neckline leading to 1.57 eventually
  • #348,377
  • Oct 8, 2013 9:49am Oct 8, 2013 9:49am
Quoting fxmasterdxb
{quote} this bastard pair has driven me crazy today, i shorted 97.07 with SL at 97.45, it kept going in ackward move as USD was sold across the board, however UJ was countuing the move up lol, i have no idea who was selling yen so heavily! seriosuly all yen pairs were flying lol anyway i closed the position and decided to stay away for the yen pairs for a little while
Heard that.

Just got stopped out on GU . Might play again if we don't break that high though
  • #348,378
  • Oct 8, 2013 9:49am Oct 8, 2013 9:49am
Quoting nAVIN2007
{quote} I think and my perspective on trading is generally do the opposite to what appears to happen short term..i look at the big picture and try and play the extreme..if today i see a doji on dailly..it will be great thing for me..indecision on yesterday will give the bear a reason to try I am probably wrong but the market is going to have to prove it to me because i aint budging..lol
mate your an expert in this game so the probablities of your view going right is much higher than mine

i trade only what my charts are telling me and do not prefer to depend on others analysis, at the end each person has to be responsible on their own trade, right
  • #348,379
  • Oct 8, 2013 9:54am Oct 8, 2013 9:54am
Quoting edindzeko
{quote} Heard that. Just got stopped out on GU . Might play again if we don't break that high though
Ok I got back in short. 6115 getting beat down. cant resist this trade right now. 6100 did provide support but I think that will give way and look for 6068 at least
  • #348,380
  • Oct 8, 2013 9:54am Oct 8, 2013 9:54am
Quoting fxmasterdxb
{quote} mate your an expert in this game so the probablities of your view going right is much higher than mine i trade only what my charts are telling me and do not prefer to depend on others analysis, at the end each person has to be responsible on their own trade, right
yes..but im no expert
let both get lucky
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