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Cable Update (GBPUSD)

  • #348,541
  • Oct 9, 2013 9:01am Oct 9, 2013 9:01am
I'm double happy with my profits earlier, because now I'm flat waiting for FOMC minutes
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  • #348,542
  • Oct 9, 2013 9:03am Oct 9, 2013 9:03am
We need a close below 1.59 to confirm down trend
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  • #348,543
  • Oct 9, 2013 9:05am Oct 9, 2013 9:05am
Quoting KillerWhale
I'm double happy with my profits earlier, because now I'm flat waiting for FOMC minutes
You're doing it all wrong... if you use a straw, the ice cubes can't go up it when you snort the coke ;P
  • #348,544
  • Edited 9:51am Oct 9, 2013 9:41am | Edited 9:51am
i have some up signal ...fake ?? maybe possible for some quick long 10-20pip ?



***fake
  • #348,545
  • Oct 9, 2013 9:56am Oct 9, 2013 9:56am
Hello everyone,

I usually don't trade GBP a lot because the high intra-day volatility and mostly because its very difficult to predict what cable is up to but today I took my risk and entered a short Gbp/Cad a few seconds after I saw the worse than expected Manufacturing Production number in UK, I made some analysis and I think I will try to keep it for a longer term this trade. Also the Gbp/Usd is very tempting as I see a H&S pattern on daily and based on the same analysis I made for the Gbp/Cad it also seems more bears are coming to the party. I do not want to bore you with my analysis here and to transform this short post into a novel but if someone is interested to see my analysis and my charts pls feel free to visit this link: http://www.forex-galaxy.com/2013/10/...nd-gbpusd.html
My targets for Gbp/Cad are 1.6200 for short term and for the Gbp/Usd 1.5642. Anyone here has the same view?
Buy when everyone else is selling and sell when everyone else is buying !
  • #348,546
  • Oct 9, 2013 10:00am Oct 9, 2013 10:00am
Swimming in Gu pips. 1.5750 here we come!!
  • #348,547
  • Oct 9, 2013 10:07am Oct 9, 2013 10:07am
Quoting bbakker
{quote} {image}
My Calculation is Price 1.5888
Got DOJI Candle in Price 1.5921 in H1 Chart, Bro.

I've got Bounce in EUR/AUD the first and GBP/NZD the second
Attached Image (click to enlarge)
Click to Enlarge Name: 2013-10-09_Cable in H4 Chart - Murrey.jpg Size: 374 KB
Always looking the GREAT, never left GOOD Point...
  • #348,548
  • Oct 9, 2013 10:43am Oct 9, 2013 10:43am
Quoting Mr. Scott
{quote} There is no need, I understand. Closed as we are approaching demand area, and did not want to be greedy as that was target.
That's GOOD

Another H1 Chart, added ZIG ZAG formation for these...
Doesn't I drawed the Trend Lines is Correct ?
Attached Image (click to enlarge)
Click to Enlarge Name: 2013-10-09_Cable H1 - Zig Zag.jpg Size: 462 KB
Always looking the GREAT, never left GOOD Point...
  • #348,549
  • Oct 9, 2013 10:52am Oct 9, 2013 10:52am
reentry position, PO short @ 6015..
  • #348,550
  • Oct 9, 2013 11:09am Oct 9, 2013 11:09am
Quoting bbakker
{quote} You're doing it all wrong... if you use a straw, the ice cubes can't go up it when you snort the coke ;P
I tried that. but my nose drowned and it came back out in my mouth.
New voice message: Why are you calling me? If I need you, I'll call you!
  • #348,551
  • Oct 9, 2013 11:09am Oct 9, 2013 11:09am
at the moment, seems like nothing to be done on cable, perhaps you guys might want to have a look into aussie and kiwi. i think both pairs might break the 4h range -> might possibly be the start of a downtrend.

mind your position size if you want to take the trade since for the time being (as long as the price stays in range) the position will be test position until confirms the breakout.

GL guys.
  • #348,552
  • Oct 9, 2013 11:14am Oct 9, 2013 11:14am
Quoting arenoosh
Hello everyone, I usually don't trade GBP a lot because the high intra-day volatility and mostly because its very difficult to predict what cable is up to but today I took my risk and entered a short Gbp/Cad a few seconds after I saw the worse than expected Manufacturing Production number in UK, I made some analysis and I think I will try to keep it for a longer term this trade. Also the Gbp/Usd is very tempting as I see a H&S pattern on daily and based on the same analysis I made for the Gbp/Cad it also seems more bears are coming to the party....
i think for the past few days (or maybe weeks) everybody here already smell the bears are coming.. but i think it will only a short visit since the bulls are on holiday..

my rationale is because we have quite a bullish candle on monthly and i think this move down will just to test 50% to maybe 61% of the bullish candle thus, my line in the sand is at the 57xx area..
  • #348,553
  • Oct 9, 2013 11:26am Oct 9, 2013 11:26am
since i am bored lol, i will just share my other trading plan..

atm i am looking forward for breakout retest price on fiber and swissy, 3545 on fiber (short) and 9075 on swissy (long).. regarding where the SL & TP, i think everyone here already capable to figure that out. comments are welcome.
  • #348,554
  • Oct 9, 2013 11:41am Oct 9, 2013 11:41am
Quoting A-speculator
since i am bored lol, i will just share my other trading plan.. atm i am looking forward for breakout retest price on fiber and swissy, 3545 on fiber (short) and 9075 on swissy (long).. regarding where the SL & TP, i think everyone here already capable to figure that out. comments are welcome.
i guess no one interested in this.. have meeting tomorrow but drank too much caffeine.. perhaps i better watch movie..

later guys. safe trade.
  • #348,555
  • Oct 9, 2013 12:00pm Oct 9, 2013 12:00pm
Gday dudes new to this thread thought i drop in and post my current view on the Gbp/Usd . High liighted with ellipse around 61.8 fib

Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdweekly.png Size: 86 KB
  • #348,556
  • Oct 9, 2013 12:14pm Oct 9, 2013 12:14pm
I already know that FOMC will move GU in the direction of the trend.
The only question is: is the trend up (channel) or down?
New voice message: Why are you calling me? If I need you, I'll call you!
  • #348,557
  • Oct 9, 2013 12:56pm Oct 9, 2013 12:56pm
Quoting KillerWhale
I already know that FOMC will move GU in the direction of the trend. The only question is: is the trend up (channel) or down?
It depends which time frame are you looking at
  • #348,558
  • Oct 9, 2013 12:56pm Oct 9, 2013 12:56pm
On weekly Price is below all important 200EMA (Bankers barometer)
Harmonically pattern is complete and heading to
38.2 at 57
50% not a fib but important psychological level at 1.55 and my TP
618 at 5365

I do anticipate break of 57.Most important fact is we are below 200EMA which according to institutional traders signals direction of trend.
To me Up Trend is solidly dead unless Washington screws up.
I have too many positions even to count and 1 account up 400pips and main account still in red -150pips but getting close to break out in big way.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.weekly.png Size: 54 KB
In trading, you have to be defensive and aggressive at the same time
  • #348,559
  • Oct 9, 2013 1:11pm Oct 9, 2013 1:11pm
Not much happened but it's important that we saw a new low.
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  • #348,560
  • Oct 9, 2013 1:14pm Oct 9, 2013 1:14pm
Quoting KillerWhale
Not much happened but it's important that we saw a new low.
Tomorrow London open I will add shorts.
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