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Cable Update (GBPUSD)

  • #349,161
  • Oct 17, 2013 7:43am Oct 17, 2013 7:43am
Quoting nAVIN2007
{quote} this move up is fake..i will not be surprised if this thing tanks again
Would make a nearly perfect H & S pattern.
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  • #349,162
  • Oct 17, 2013 7:44am Oct 17, 2013 7:44am
Quoting 1pipperhour
{quote} Why did you close if you were deciding re-short anyway?
I'm short from a lot higher now.
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  • #349,163
  • Oct 17, 2013 7:46am Oct 17, 2013 7:46am
Quoting 1pipperhour
Why did you close if you were deciding re-short anyway?
You really don't want to be short just before big news when the market sentiment is up. Too risky. If you are bearish but the rest of the crowd aren't, you have all to lose if the news are slightly in favour of the crowd and you get caught by the stamped. So you get out and come back after the news if the news support your views.
  • #349,164
  • Oct 17, 2013 7:50am Oct 17, 2013 7:50am
Quoting negrada
{quote} You really don't want to be short just before big news when the market sentiment is up. Too risky. If you are bearish but the rest of the crowd aren't, you have all to lose if the news are slightly in favour of the crowd and you get caught by the stamped. So you get out and come back after the news if the news support your views.
Was this addressed to me?
  • #349,165
  • Oct 17, 2013 7:52am Oct 17, 2013 7:52am
The answer was addressed to your question but the "you" was just a generic "you". You can replace the "you" for "one" if you prefer.
  • #349,166
  • Oct 17, 2013 7:54am Oct 17, 2013 7:54am
I am still short with my shorts opened and in loss, but I will wait for them to complete, in the mean time I have added couple of more shorts.
This time the move up was supported by volume. I do not know if they were rumour buyers or other players, but now volume is gone.
Let us see what US is going to do to USD.
  • #349,167
  • Oct 17, 2013 7:54am Oct 17, 2013 7:54am
Quoting KillerWhale
{quote} I'm short from a lot higher now.
So? You could have been short from a lot higher even having earlier shorts opened. Or you were too exposed?
  • #349,168
  • Oct 17, 2013 7:56am Oct 17, 2013 7:56am
Add one long on GJ, seem like GU is near to its day high.
Face both Win and Lose bravely
  • #349,169
  • Oct 17, 2013 7:56am Oct 17, 2013 7:56am
As described before TP taken on GBPUSD @ 1.6101
Price Action + KISS + PIE = Forex-Entourage
  • #349,170
  • Oct 17, 2013 7:58am Oct 17, 2013 7:58am
Quoting negrada
The answer was addressed to your question but the "you" was just a generic "you". You can replace the "you" for "one" if you prefer.
I'm confused now. We were just talking about re-opening short at .6115. That's pretty much before Philly Fed.
  • #349,171
  • Oct 17, 2013 8:02am Oct 17, 2013 8:02am
Ok, so to avoid confusion and explain what I meant to say.

Shorting at 1.6115 before the news with the market going up is way different than shorting at the same 1.6115 after the news and when the crowd has gone off already. The sentiment is up - the news will be interpreted asymmetrically. Good news, overshoot. Bad news, who cares. If you are positioned contrarian to the crowds, I don't see where is the problem with getting off stopped out at 1.6115 before the big news just to come back exactly at the same point once the news have come and the crowds haven't gone on stampede.
  • #349,172
  • Oct 17, 2013 8:07am Oct 17, 2013 8:07am
This 15 minutes is curtual, intend to close if no new high.
Face both Win and Lose bravely
  • #349,173
  • Oct 17, 2013 8:11am Oct 17, 2013 8:11am
Quoting 1pipperhour
{quote} So? You could have been short from a lot higher even having earlier shorts opened. Or you were too exposed?
I would say go to www.babypips.com and learn the basics about trading.
New voice message: Why are you calling me? If I need you, I'll call you!
  • #349,174
  • Oct 17, 2013 8:15am Oct 17, 2013 8:15am
I tried to sniff coke, but the ice cubes got stuck in my nose! I you KillerWhale
  • #349,175
  • Oct 17, 2013 8:15am Oct 17, 2013 8:15am
This up move is very strong. What is the big news everybody is waiting for?. sad to see all my profit being eroded luckily it is not eating my account balance oh well will just have to go long later this evening. This is definetly a buy signal on the daily chart.
Trend_Masters
  • #349,176
  • Oct 17, 2013 8:17am Oct 17, 2013 8:17am
Closed, switch to J series, all long.
Face both Win and Lose bravely
  • #349,177
  • Oct 17, 2013 8:17am Oct 17, 2013 8:17am
stopped out again
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  • #349,178
  • Oct 17, 2013 8:18am Oct 17, 2013 8:18am
Im waiting for 6170 6220 for shorting oppurtunity
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  • #349,179
  • Oct 17, 2013 8:18am Oct 17, 2013 8:18am
Quoting nAVIN2007
{quote} this move up is fake..i will not be surprised if this thing tanks again
Forced liquidation of idiots who have martingale short positions
  • #349,180
  • Oct 17, 2013 8:21am Oct 17, 2013 8:21am
6140/60 is strong resistance area, would be the formation of the second shoulder and reversal for a massive bear move if rejected

http://i.imgur.com/T3l3NQV.jpg
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