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Cable Update (GBPUSD)

  • #350,181
  • Oct 24, 2013 1:35am Oct 24, 2013 1:35am
Quoting LizardGizzard
But I only adjust positions. No stops at all.
Real smart, no stops.
The guys who gave you a vouch should get time in prison!
New voice message: Why are you calling me? If I need you, I'll call you!
  • #350,182
  • Oct 24, 2013 1:38am Oct 24, 2013 1:38am
Howzit!

GU

During the Asian session a definite 30 pip pop to the top side was followed through by another pop (we remain in the weekly range however) Strong resistance @1.626 needs to break for the bulls to really gallop and the bears need 1.589 to confirm the bearish view (the Bulls have it now with the break of 1.62 intraday
Still being capped by a descending TL on the RSI and stochs (though being challenged) continue to show Bearish Divergence. Thus the MT play is still short (stops still intact

Fibre is dragging cable along and is breaking out to the top (1.3819 is the best short entry now) but a break higher opens the 1.40 level for exploration and confirms the bull run on the EU (watch the data PMI out shortly).
I suspect the EU is going to control the story for Cable today and further bullish action would not be surprising - but bad EU data would definitely begin the break to the downside.

Either story is possible, lets work with the probable. Control your risk, manage your money and have an excellent day!

G/L
  • #350,183
  • Oct 24, 2013 1:43am Oct 24, 2013 1:43am
Quoting KillerWhale
{quote} Real smart, no stops. The guys who gave you a vouch should get time in prison!
I set stop loss just in case if power cut and if battery & inverter backup doesn't work or if any other technical problem occurs.
-milkeyway
  • #350,184
  • Oct 24, 2013 1:43am Oct 24, 2013 1:43am
Quoting Cowboy11
Most likely working toward breaking month's R. 1.6379
Quoting Cowboy11
May be don't to wait till next week.
I don't agree with you...
Cable and Market's still VOLATILE in this Week
Always looking the GREAT, never left GOOD Point...
  • #350,185
  • Oct 24, 2013 1:45am Oct 24, 2013 1:45am
Quoting Cowboy11
Most likely working toward breaking month's R. 1.6379
I wish USD index get bottom today. If GU fall from here it will fall to 1.59xx at least.
Never test the depth of water with both feet.
  • #350,186
  • Oct 24, 2013 1:45am Oct 24, 2013 1:45am
Quoting KillerWhale
{quote} Real smart, no stops. The guys who gave you a vouch should get time in prison!
Do you think an 8% loss on your current account is healthy? That's what your profile tells us.
New voice message: Why are you calling me? If I need you, I'll call you!
  • #350,187
  • Oct 24, 2013 1:47am Oct 24, 2013 1:47am
Quoting Tsar
{quote} {quote} I don't agree with you... Cable and Market's still VOLATILE in this Week

I do not agree too
because... kyuubi, naruto and sasuke will come to here for kick my ass
and i will lost much....huahahahahaahha
  • #350,188
  • Oct 24, 2013 1:48am Oct 24, 2013 1:48am
Why try and predict anything?
There's always money in the banana stand.
  • #350,189
  • Oct 24, 2013 1:50am Oct 24, 2013 1:50am
Quoting fxlover11
{quote} I wish USD index get bottom today. If GU fall from here it will fall to 1.59xx at least.
No, it will fall to 1.5720 or 1.5450
New voice message: Why are you calling me? If I need you, I'll call you!
  • #350,190
  • Oct 24, 2013 1:51am Oct 24, 2013 1:51am
After yesterday’s drop down GBPUSD defended 1.6114. Today we expect the currency will try to break 1.6156. In this situation we will be looking for a long position at 1.6180-1.6185 and if 1.6224 level will not get broken on the first attepmt again we should see possibility for another long position at the same level (1.6180-1.6185). On the other hand if 1.6224 will be defeated we will look to take short position at 1.6257-1.6262 level.
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Price Action + KISS + PIE = Forex-Entourage
  • #350,191
  • Oct 24, 2013 1:58am Oct 24, 2013 1:58am
Quoting KillerWhale
{quote} No, it will fall to 1.5720 or 1.5450
Yes, but I am telling about free fall without srtong retrace , that means impulse down. You are may be telling about whole correction of bull run . My target will be 1.55xx for that. But if USD show more weakness GU will fly to sky.
Never test the depth of water with both feet.
  • #350,192
  • Oct 24, 2013 1:59am Oct 24, 2013 1:59am
I think we will go to 1.6000
  • #350,193
  • Oct 24, 2013 2:03am Oct 24, 2013 2:03am
Quoting JimmyC
Howzit! GU During the Asian session a definite 30 pip pop to the top side was followed through by another pop (we remain in the weekly range however) Strong resistance @1.626 needs to break for the bulls to really gallop and the bears need 1.589 to confirm the bearish view (the Bulls have it now with the break of 1.62 intraday Still being capped by a descending TL on the RSI and stochs (though being challenged) continue to show Bearish Divergence. Thus the MT play is still short (stops still intact Fibre is dragging cable along and is breaking out...
So the French are undecided recovering but not strong.
Next amusement German story
The unemployment story in Spain makes them look due for a downgrade to EM
  • #350,194
  • Oct 24, 2013 2:05am Oct 24, 2013 2:05am
My analyze a few hours ago ....
kyuubi naruto and sasuke will rampage......

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  • #350,195
  • Edited 2:25am Oct 24, 2013 2:17am | Edited 2:25am
Quoting KillerWhale
{quote} Real smart, no stops. The guys who gave you a vouch should get time in prison!
http://www.forexfactory.com/showthre...25#post7046425

This will end in tears, it always does (no exceptions)
The basics of trading

Trade a plan, use an edge (say high probability setups / moon phases, whatever makes your winners more) so you're right 51% and wrong 49% make your losses consistently small (2%) nice number.
Make your profits greater than your losses and your equity curve will rise. If its a bad edge it will be slow, if its a good edge it will be fast.

If you are inconsistent, undisciplined, erratic and reckless you will lose because you are undisciplined. Trading without a stop-loss is just dumb (but your broker thanks you)
Getting lucky is not an edge, its gambling. But this isn't a casino, in a casino you can only loose what you bet... If you trade with no stop-loss you're all-in so:

Your lack of structure / discipline and good healthy approach to the proper trading principals will be your undoing. If not today / tomorrow / next month but whether I speculate a market position and am wrong about it or not I predict you will blow yourself up and anyone who follows you will do the same.

Learn discipline
  • #350,196
  • Oct 24, 2013 2:19am Oct 24, 2013 2:19am
Bearish bodied daily candle yesterday but with longer lower wick than upper wick as support was found at 6118...a bounce back up here to6181 and a pullback in early Asian session to 6161 before another leg up into early London...supply being encountered at the 76.4% 6256-6118. 1hr/4hr are mixed re opa right now and certainly there is 4hr H&S potential. Generally a data light day today certainly particularly in this London morning session.

G/L
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ex member
  • #350,197
  • Oct 24, 2013 2:23am Oct 24, 2013 2:23am
Quoting danko316
I think we will go to 1.6000
I hope we do get there! I have my TP there (:
  • #350,198
  • Oct 24, 2013 2:27am Oct 24, 2013 2:27am
ups...."best seller"
  • #350,199
  • Oct 24, 2013 2:35am Oct 24, 2013 2:35am
Quoting JimmyC
{quote} So the French are undecided recovering but not strong. Next amusement German story The unemployment story in Spain makes them look due for a downgrade to EM
Germany now done... Well that's ok, market didn't think so but (did anyone spot the inverse H&S on EU... was worth 33

GU bounce @1.616 watch for the break
  • #350,200
  • Oct 24, 2013 2:37am Oct 24, 2013 2:37am
Quoting KillerWhale
{quote} Real smart, no stops. The guys who gave you a vouch should get time in prison!

lol
Wherever you go, there you are.
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