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Cable Update (GBPUSD)

  • #349,481
  • Oct 19, 2013 7:12am Oct 19, 2013 7:12am
Quoting TauTrader
{quote} Good day to you, trexy123 Because I'm selling?
can you explain why?
  • #349,482
  • Oct 19, 2013 7:23am Oct 19, 2013 7:23am
http://www.marctomarket.com/2013/10/...technical.html
ex member
  • #349,483
  • Oct 19, 2013 7:35am Oct 19, 2013 7:35am
Quoting trexy123
{quote} can you explain why?
http://www.forexfactory.com/showthre...39#post7027939
  • #349,484
  • Oct 19, 2013 8:00am Oct 19, 2013 8:00am
Quoting TauTrader
{quote} http://www.forexfactory.com/showthre...39#post7027939
you only posted this, you did not explain why that is the sell zone ???

Good day,

Will start building short positions again.

Target @ 1.5565

1st small short. Will add in intervals from here.

All the best - off to bed

Regards
  • #349,485
  • Oct 19, 2013 9:34am Oct 19, 2013 9:34am
Quoting trexy123
{quote} you only posted this, you did not explain why that is the sell zone ???
Good day,

For me - it's a zell zone. For others - it may be a buy. I use CME pricing information in this indicator as part of my trading. When price extends these limits/boundries ( like on the posted chart) it becomes a possible buy and/or sell zone under my trading rules. I cannot convince anyone to either buy or sell. It is just my personal set of rules.

All the best
  • #349,486
  • Oct 19, 2013 10:01am Oct 19, 2013 10:01am
Quoting trexy123
{quote} you only posted this, you did not explain why that is the sell zone ??? Good day, Will start building short positions again. Target @ 1.5565 1st small short. Will add in intervals from here. All the best - off to bed Regards
He is trading with a comfortable starting balance of 100,000 USD in equity on a Demo account, I don't think a lot of reasoning or analysis goes behind such positions and people just gamble long term..
  • #349,487
  • Oct 19, 2013 10:23am Oct 19, 2013 10:23am
My projection according to my EWP count,,,,,,,

Attached Image (click to enlarge)
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Never test the depth of water with both feet.
  • #349,488
  • Oct 19, 2013 10:36am Oct 19, 2013 10:36am
Quoting bbmac
The 'main' Known event risks this coming week that may influence price direction of this pairing on the knee-jerk reaction and/or longer include UK PSBR data and U.s NFP on tuesday, Uk Boe MPC minutes on wednesday, Uk Boe Gvnr Carney speaking on thursday, and Uk 3rd Qtr Gdp prelim on Friday. With volatility comes opportunity....so hope they do create some movement either way. G/L

I am certain Carney will paint rosy picture of UK economy again despite of reality.I believe Pound is already way overbought and much of
"good" data is already priced in.
I anticipate Top side to be capped at 6370 Dec of 2012.While upside is obvious I am bearish based on fundamentals that UK biggest trading partner Euro zone is in economical stagnation with 17-27% unemployment not much growth is anticipated next few years.
Much of UK's personal earning are down and little of economical growth is limited around London.Carney is way upbeat perhaps being new to position he wants to show his performance positively.(worked 13years at Goldman Sachs and knows how to spin the markets)
Worth reading

Bank of England’s Mark Carney dogged by fears of U.K. housing bubble
Sounds familiar to US 2008 bubble.

According to data released on Monday by Britain’s Office for National Statistics, U.K. house prices which took flight this year have now surpassed the vertigo-inducing levels achieved in early 2008 as rock-bottom-interest rates inflated a bubble that promptly collapsed a year later, causing enormous pain across the country.
The bubble is getting a boost from a controversial program that will sound familiar. The so-called “Help to Buy” scheme provides incentives to potential purchasers, especially those who might not qualify for a bank mortgage.
In trading, you have to be defensive and aggressive at the same time
  • #349,489
  • Oct 19, 2013 10:57am Oct 19, 2013 10:57am
Thanks for your analysis and reasoning...this week I think U.s Nfp could cause some movement on Tuesday, and then of course Carney speaks Thursday - not really expecting any surprises there, but you never know. ? Uk 3rd Qtr Gdp prelim will be one to watch on Friday - anything at or above the 0.8% forecast could see some £ strength on the knee-jerk. Known/scheduled (and indeed unknown/unscheduled) event risks are a potential threat to any open position particularly near-term ones. Technically, the threat to any near-term open long positions are the doji on the daily Friday, and the failure at the zone leading up to 6259 swing hi that saw the sell-off from 6224-friday's/the weekly hi just closed.

G/L

Quoting Davit
{quote} I am certain Carney will paint rosy picture of UK economy again despite of reality.I believe Pound is already way overbought and much of "good" data is already priced in. I anticipate Top side to be capped at 6370 Dec of 2012.While upside is obvious I am bearish based on fundamentals that UK biggest trading partner Euro zone is in economical stagnation with 17-27% unemployment not much growth is anticipated next few years. Much of UK's personal earning are down and little of economical growth is limited around London.Carney is way upbeat...
ex member
  • #349,490
  • Oct 19, 2013 2:35pm Oct 19, 2013 2:35pm
Want to see this below Firebrick Red, so we can smoke this baby
Attached Image (click to enlarge)
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Come with me if you want to live....
  • #349,491
  • Oct 19, 2013 7:46pm Oct 19, 2013 7:46pm
Quoting Ill-b-back
Want to see this below Firebrick Red, so we can smoke this baby {image}
I am eating this shit me too, but at EU side.

Unfortunately it can go up 100-150 pip more imho before hard reverse. If it can hold it for 2 days it will try to break the next whatever price action level ( around 70-150 pip )
I want to buy PATIENCE
  • #349,492
  • Oct 19, 2013 7:57pm Oct 19, 2013 7:57pm
Quoting matheszabi
{quote} I am eating this shit me too, but at EU side. Unfortunately it can go up 100-150 pip more imho before hard reverse. If it can hold it for 2 days it will try to break the next whatever price action level ( around 70-150 pip )
Could do, I'm watching 6250 for a top in Monday.
Come with me if you want to live....
  • #349,493
  • Oct 19, 2013 8:01pm Oct 19, 2013 8:01pm
Hello
New voice message: Why are you calling me? If I need you, I'll call you!
  • #349,494
  • Oct 19, 2013 9:42pm Oct 19, 2013 9:42pm
The reversal on this pair is already underway, barring some crazy news release. I have a nice 6 pip wide (3 pips without spread) entry already short and in profit, I'm willing to bet others are already in on this too and will drive price down the upcoming week. Too many low risk short opportunities already created for them to blow this.
  • #349,495
  • Oct 19, 2013 10:09pm Oct 19, 2013 10:09pm
Quoting Kanzler
The reversal on this pair is already underway, barring some crazy news release. I have a nice 6 pip wide (3 pips without spread) entry already short and in profit, I'm willing to bet others are already in on this too and will drive price down the upcoming week. Too many low risk short opportunities already created for them to blow this.
May be excellent timing for this venture on Gbp/Usd. I would advise taking a look at the Nzd/Usd too for the same reasons. Almost the same chart pattern. (Albeit on different time frames)
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Money Makes Money
  • #349,496
  • Oct 19, 2013 10:15pm Oct 19, 2013 10:15pm
Quoting KiwiOz
{quote} May be excellent timing for this venture on Gbp/Usd. I would advise taking a look at the Nzd/Usd too for the same reasons. Almost the same chart pattern. (Albeit on different time frames) {image}
For completely different reasons I sold that pair too....only to be stopped out when Oanda raised spreads 25 points Friday. That really pissed me off, may stop trading that pair since this is like the third time I've had problems with it.
  • #349,497
  • Oct 19, 2013 10:35pm Oct 19, 2013 10:35pm
Quoting Purple
{quote} He is trading with a comfortable starting balance of 100,000 USD in equity on a Demo account, I don't think a lot of reasoning or analysis goes behind such positions and people just gamble long term..
thanks for pointing that out. alot of useless garbage on this forum
  • #349,498
  • Oct 19, 2013 11:26pm Oct 19, 2013 11:26pm
Hot Market..............
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  • #349,499
  • Oct 19, 2013 11:28pm Oct 19, 2013 11:28pm
Quoting trexy123
{quote} thanks for pointing that out. alot of useless garbage on this forum
Yep, that chart and also the one he referred as his reasoning for going short, both were completely useless.
  • #349,500
  • Oct 19, 2013 11:28pm Oct 19, 2013 11:28pm
Quoting trexy123
{quote} thanks for pointing that out. alot of useless garbage on this forum

What you might be missing lot of traders have live account closely mimicking their demo account.
I am certain Tau Trader has live account.
Everyone has different style of trading
Scalping
Daytrading
Position Trading
Longer Term Equity building trading

I Trade longer term.I am sure for a scalper my red trades are not logical but in few weeks a month later they might make perfect sense.
Jesse Livermore arguably one of best traders ever held a position 11months to profit in millions.
Despite of lot of myths in trading best trading involves patience.Patience even not to be in the market.
Regards
In trading, you have to be defensive and aggressive at the same time
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