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Cable Update (GBPUSD)

  • #351,161
  • Oct 29, 2013 1:55pm Oct 29, 2013 1:55pm
http://business.time.com/2013/10/29/...back-unlikely/

'.......When the Federal Reserve last met in mid-September, almost everyone expected it to start reducing the stimulus it’s given the U.S. economy to help it rebound from the Great Recession. It didn’t. The Fed pulled a surprise by deciding not to slow its $85 billion-a-month in Treasury and mortgage bond purchases. Its bond buying has been intended to keep long-term loan rates low to support the economy. And now? After a 16-day partial government shutdown and a batch of tepid economic data, no one thinks the Fed will reduce its stimulus when it meets Tuesday and Wednesday. Many analysts now predict the Fed will maintain the pace of its bond purchases into next year........'
ex member
  • #351,162
  • Oct 29, 2013 2:01pm Oct 29, 2013 2:01pm
Quoting bbmac
Daily S3, 61.8% 5893-6256 and daily/weekly ascending trend line @/around current daily lo as 1hr continues opa downtrend and 4hr looking more bearish too. Price @ 112% 20 day atr now. That 5893 swing must be moving into view for the bears/longer term bears now ? U.s cpi inflation and probably more likely Fed statement tomorrow may shake it up more ? Fibs on daily drawn from areas circled to 6259, red one to 6256. LH and a L on daily now - L not fractal yet G/L {image}
Good day Sir,

Are you playing or commenting?

Regards,



G/L
  • #351,163
  • Oct 29, 2013 2:02pm Oct 29, 2013 2:02pm
God bless ' em retail traders - in the trade explorer on this site - 64% of lots traded are now long lol ! No wonder there's been a big fall today...

G/L
Attached Image (click to enlarge)
Click to Enlarge Name: z1.jpg Size: 63 KB
ex member
  • #351,164
  • Oct 29, 2013 2:03pm Oct 29, 2013 2:03pm
Hi, I have been playing - flat now and finished for day.

G/L

Quoting JimmyC
{quote} Good day Sir, Are you playing or commenting? Regards, G/L
ex member
  • #351,165
  • Oct 29, 2013 2:05pm Oct 29, 2013 2:05pm
Quoting JimmyC
{quote} Good day Sir, Are you playing or commenting? Regards, G/L
The bear story only begins @1.588 for the MT / LT peeps....
:-)

G/L
  • #351,166
  • Oct 29, 2013 2:06pm Oct 29, 2013 2:06pm
Quoting bbmac
Hi, I have been playing - flat now and finished for day. G/L {quote}

V
G/L
  • #351,167
  • Oct 29, 2013 2:07pm Oct 29, 2013 2:07pm
Quoting bbmac
God bless ' em retail traders - in the trade explorer on this site - 64% of lots traded are now long lol ! No wonder there's been a big fall today... G/L {image}
Better indicator than price action itself it seems
"HEY! Whats all this chocolate on yo face?" - "It's doodoo, babby!"
  • #351,168
  • Oct 29, 2013 2:13pm Oct 29, 2013 2:13pm
Quoting bbmac
God bless ' em retail traders - in the trade explorer on this site - 64% of lots traded are now long lol ! No wonder there's been a big fall today... G/L {image}


90% of traders use TA, indicators and prediction
  • #351,169
  • Oct 29, 2013 2:14pm Oct 29, 2013 2:14pm
Quoting nAVIN2007
{quote} ma's are just a guide with a bit of screen time u can see the support and resistance without them It will depend most trader that use them i guess have them there cause it provides opportunity to take trades mechanically (use as a system) whereas some traders simply go with there gut and use P.A as a guide
Quote

JY ken....!

Woosa!

G/L
  • #351,170
  • Oct 29, 2013 2:15pm Oct 29, 2013 2:15pm
Is this the right time to short Cable? PLs help
  • #351,171
  • Oct 29, 2013 2:18pm Oct 29, 2013 2:18pm
Quoting Ivanqus
Is this the right time to short Cable? PLs help
No. The right time was yesterday or this morning. Now is the time to take profit.
Those who say it cannot be done should not interrupt those who are doing it
  • #351,172
  • Oct 29, 2013 2:20pm Oct 29, 2013 2:20pm
Quoting basitata
this is logically a faliure of demand/supply balance on a given price. that is what i was referring for; {image}
that move down came because of my entry short
90% of traders use TA, indicators and prediction
  • #351,173
  • Oct 29, 2013 2:23pm Oct 29, 2013 2:23pm
Quoting Ivanqus
Is this the right time to short Cable? PLs help
Depends:

  1. Your time frame
  2. Your risk (per trade)
  3. Your target
  4. Your understanding of R:R
  5. Your profit need
  6. Your trade objective


If you don't understand what I asked

www.babypips.com/school

Go here, then come back and talk trading with traders



Study hard, be back soon

We look forward to it!



G/L

  • #351,174
  • Oct 29, 2013 2:24pm Oct 29, 2013 2:24pm
Quoting Ivanqus
Is this the right time to short Cable? PLs help
1.60 is a major level.
price is coming down straight since 1.62
not a good situation and price setup to short near 1.60 now. better wait!

i do usually act like this:
"if i want to short now, i need 250pips stop loss. so i just wait and hope to see price moving up some 100-120 (so back up into 1.61) and look for an opportunity at higher place"

market is like this... buyers want lower price, sellers want higher price. that's it
90% of traders use TA, indicators and prediction
  • #351,175
  • Oct 29, 2013 2:26pm Oct 29, 2013 2:26pm
Thank you guyz!
  • #351,176
  • Oct 29, 2013 2:37pm Oct 29, 2013 2:37pm
Quoting nAVIN2007
{quote} ma's are just a guide with a bit of screen time u can see the support and resistance without them It will depend most trader that use them i guess have them there cause it provides opportunity to take trades mechanically (use as a system) whereas some traders simply go with there gut and use P.A as a guide
Sorry for having brought this up actually, i just wanted to point out that price wasn't bouncing off the MA it was bouncing from orders at a level.

Even a stopped clock gives the right time twice a day.

The same rules of PA apply to these M1 trades as they do Monthly. 6 pip DD here tho. M1 however doesn't give much more than short term signals. Still holding higher short from 1.6192.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdpro-m1.png Size: 21 KB
  • #351,177
  • Edited 2:57pm Oct 29, 2013 2:44pm | Edited 2:57pm
Quoting aBitWonKy
{quote} Sorry for having brought this up actually, i just wanted to point out that price wasn't bouncing off the MA it was bouncing from orders at a level. Even a stopped clock gives the right time twice a day. The same rules of PA apply to these M1 trades as they do Monthly. 6 pip DD here tho. M1 however doesn't give much more than short term signals. Still holding higher short from 1.6192. {image}
absolutely..nothing and everything works..the important thing is knowing why it works! Actually all indicators work but only under certain conditions..I see the point u are making, its not the indicator but the confluence.


U must be a very good trader..

good luck to u
  • #351,178
  • Oct 29, 2013 3:07pm Oct 29, 2013 3:07pm
Quoting _BBKing_
{quote} that move down came because of my entry short
Well in that case thanks. Now do it again and keep doing it till we bust that DT neckline.
Those who say it cannot be done should not interrupt those who are doing it
  • #351,179
  • Oct 29, 2013 3:13pm Oct 29, 2013 3:13pm
Quoting aBitWonKy
{quote} Sorry for having brought this up actually, i just wanted to point out that price wasn't bouncing off the MA it was bouncing from orders at a level. Even a stopped clock gives the right time twice a day. The same rules of PA apply to these M1 trades as they do Monthly. 6 pip DD here tho. M1 however doesn't give much more than short term signals. Still holding higher short from 1.6192. {image}
You said "Get Rid", did you not?
This implies that you feel that there is no benefit in using MAs.
If that is not what you meant to imply, then I guess I'm a retarded wanker
Those who say it cannot be done should not interrupt those who are doing it
  • #351,180
  • Oct 29, 2013 3:29pm Oct 29, 2013 3:29pm
G/N

I am tired

BBL

G/L
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