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Cable Update (GBPUSD)

  • #349,321
  • Oct 18, 2013 3:06am Oct 18, 2013 3:06am
Quoting Even-on-Ten
have some resistance at 6204/15, but dont know if I have the stomach for selling it again...
going to try some shorts at 6204, risk 30 pips...
Enter Signature
  • #349,322
  • Oct 18, 2013 3:06am Oct 18, 2013 3:06am
G/M

So far today a small upside follow thru on yesterday's daily candle (doh!)...the shorters keep shorting this up move...insisting they are right and anyone getting - you know with the trend is wrong...and that's the thing about trading - they may even be right (it could be due a large correction/strong down move - no one knows) but generally have been at the wrong time, and as being wrong is always at the right time - it can amount to the same thing. 81% of trader's lots here short at ff.com's trade explorer thingy. It always amazes me when I see traders shorting a strong up move and vice versa...if they only spent as much time getting with the move/trend as they did against it - they would be trading with the greater probability....but,... whatever.

Big (> 20 day atr) bullish thrust master engulf x 9 candle on the daily yesterday...the general opa uptrend still intact there off a LL, this candle's hi and close coming above the 2 x LH's. Asian session saw a pullback to 6141 then a bounce back up that early London sesison has continued to buy. 1hr in a general opa uptrend, 4hr looking more bullish re opa now and of course the weekly opa uptrend remains intact too.

Will this uptrend continue and make a challenge on 6259 recent daily/minor weekly swing hi or will the bears come out before there ? Price banging it's head at 6187 so far.

Various Fomc members speaking later stateside.

Talk of strong offers into 6200 possibly up to 6210 with stops above ?

G/L
ex member
  • #349,323
  • Oct 18, 2013 3:11am Oct 18, 2013 3:11am
A bit upset now, I had left overnight a limit buy order at 1.6142 to cover my short and reverse to a long, but apparently the minimum ask price was 1.61425 so I missed it and ended up with a loss.
  • #349,324
  • Oct 18, 2013 3:12am Oct 18, 2013 3:12am
Quoting polbanda
{quote} {image}
Welcome !! even if u find the lowest are the heart for each & every raise or fall with bradycardia or tachy one ,effects are same non-stop.
take care ,
fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #349,325
  • Oct 18, 2013 3:14am Oct 18, 2013 3:14am
Quoting Tsar
{quote} This is the fourth time... {image}
nothing "best seller".....
  • #349,326
  • Oct 18, 2013 3:17am Oct 18, 2013 3:17am
Taper talk sets tone for down and out dollar

Published: Thursday, 17 Oct 2013 | 11:42 PM ET
By: Dhara Ranasinghe | Senior Writer



http://fm.cnbc.com/applications/cnbc...G?v=1381568207


As the dollar languished near eight-month lows on Friday, currency strategists say the U.S currency could head lower still as markets push back expectations for a tapering of the Federal Reserve's monetary stimulus.

The dollar index, which measure's the greenback's value against a basket of other major currencies, stood at about 79.71. It held within sight of eight-month lows hit Thursday as investors weighed the fallout of the crisis in Washington that ended a day earlier with a deal to reopen the government and avert a debt default.



http://www.cnbc.com/id/101123215
Always looking the GREAT, never left GOOD Point...
  • #349,327
  • Oct 18, 2013 3:20am Oct 18, 2013 3:20am
That kind of information says nothing at all! Let's say 100 traders are long on Cable. Each have 0.1 lot. 200 traders are short on Cable and each have 0.5 lot position. Trend is crowd. Follow the crowd and wait for money.

hmm.... buying highs?
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  • #349,328
  • Oct 18, 2013 3:21am Oct 18, 2013 3:21am
patiently waiting for 1.6255 .........

i miss " best seller " .............................................
  • #349,329
  • Oct 18, 2013 3:27am Oct 18, 2013 3:27am
Quoting sepuluh
patiently waiting for 1.6255 ......... i miss " best seller " .............................................
what you mean ?
  • #349,330
  • Oct 18, 2013 3:32am Oct 18, 2013 3:32am
....
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ex member
  • #349,331
  • Oct 18, 2013 3:32am Oct 18, 2013 3:32am
Quoting polbanda
That kind of information says nothing at all! Let's say 100 traders are long on Cable. Each have 0.1 lot. 200 traders are short on Cable and each have 0.5 lot position. Trend is crowd. Follow the crowd and wait for money. hmm.... buying highs? {image} {image}
Anyway, where did you get that information, can you share the link? Thanks.
  • #349,332
  • Oct 18, 2013 3:35am Oct 18, 2013 3:35am
Any questions ?
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  • #349,333
  • Oct 18, 2013 3:37am Oct 18, 2013 3:37am
Quoting negrada
{quote} Anyway, where did you get that information, can you share the link? Thanks.
http://www.forexfactory.com/trades.php
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  • #349,334
  • Oct 18, 2013 3:39am Oct 18, 2013 3:39am
It seems like completion of 1H's ABC cycle was deferred by 4 hours.
Face both Win and Lose bravely
  • #349,335
  • Oct 18, 2013 3:39am Oct 18, 2013 3:39am
But most propably is...
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  • #349,336
  • Oct 18, 2013 3:39am Oct 18, 2013 3:39am
I agree, the volume is inconsequential but it is perhaps a good and representative snapshot of ' retail traders' and why they generally lose overall....the extent to which no on knows, but if this thread and the shorters are anything to go by in this run up and the run up from 4811...well !...

G/L

Quoting polbanda
That kind of information says nothing at all! Let's say 100 traders are long on Cable. Each have 0.1 lot. 200 traders are short on Cable and each have 0.5 lot position. Trend is crowd. Follow the crowd and wait for money. hmm.... buying highs? {image} {image}
ex member
  • #349,337
  • Oct 18, 2013 3:43am Oct 18, 2013 3:43am
Quoting polbanda
{quote} http://www.forexfactory.com/trades.php {image}
Thank you
  • #349,338
  • Oct 18, 2013 3:45am Oct 18, 2013 3:45am
Quoting bbmac
I agree, the volume is inconsequential but it is perhaps a good and representative snapshot of ' retail traders' and why they generally lose overall....the extent to which no on knows, but if this thread and the shorters are anything to go by in this run up and the run up from 4811...well !... G/L {quote}
It also shows the volume in lots. I actually think this info is a good representation of what retail trades are doing. I was looking for something like this for some time and couldn't find it. Thanks a lot for sharing this info, even if it meant nothing to you.
  • #349,339
  • Oct 18, 2013 3:50am Oct 18, 2013 3:50am
Quoting negrada
{quote} It also shows the volume in lots. I actually think this info is a good representation of what retail trades are doing. I was looking for something like this for some time and couldn't find it. Thanks a lot for sharing this info, even if it meant nothing to you.
What I can see in this info is that retail do not follow trend. Holding shorts for 5 weeks is very destructive for wallet and psyche.
  • #349,340
  • Oct 18, 2013 3:51am Oct 18, 2013 3:51am
Technical Point of Interest

GU 4H

When a head & shoulders pattern fails... It is due to a falling wedge...
We watched it happen yesterday...



G/L
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