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Cable Update (GBPUSD)

  • #351,941
  • Nov 5, 2013 11:56pm Nov 5, 2013 11:56pm
Quoting Jorsik
Davit, how much further up will GC go?

Nobody knows exactly.Perhaps not the answer you prefer but that's the honest truth.
Take your 1 lot
divide in 4 .25 and sell every 50pips until all 1 lot is invested then simply wait.With positive swap its not a bad strategy
Regards
In trading, you have to be defensive and aggressive at the same time
  • #351,942
  • Nov 6, 2013 12:26am Nov 6, 2013 12:26am
Hi all

I'm just waiting for a pullback to entry long, but it seems this thing does not want retrace neither off yesterday high.........

So, what's up?
Don't give up
  • #351,943
  • Nov 6, 2013 12:28am Nov 6, 2013 12:28am
Quoting Davit
{quote} Nobody knows exactly.Perhaps not the answer you prefer but that's the honest truth. Take your 1 lot divide in 4 .25 and sell every 50pips until all 1 lot is invested then simply wait.With positive swap its not a bad strategy Regards
Hi bro,
See attached screen shot for my entry on gbpchf.
Attached Image
  • #351,944
  • Nov 6, 2013 12:34am Nov 6, 2013 12:34am
Quoting pipcenturion
{quote} Hi bro, See attached screen shot for my entry on gbpchf. {image}

Your chart is difficult to read.If you could delete the indicators and show your entries on larger TF say 1hr or greater then it would look lot more clearer.
I am sorry I can't read your chart as is.
Regards
In trading, you have to be defensive and aggressive at the same time
  • #351,945
  • Nov 6, 2013 12:36am Nov 6, 2013 12:36am
Quoting geomink
Hi all I'm just waiting for a pullback to entry long, but it seems this thing does not want retrace neither off yesterday high......... So, what's up?
Howzit!

GU 1H

Its retracing... like this..
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDretrace H1.png Size: 22 KB


Very bullish at the mo

G/L
  • #351,946
  • Nov 6, 2013 12:40am Nov 6, 2013 12:40am
Quoting JimmyC
{quote} Howzit! GU 1H Its retracing... like this.. {image} Very bullish at the mo G/L
I think almost everyone in this room has a pending short at 1.612, not sure if that's a good thing!
  • #351,947
  • Nov 6, 2013 12:43am Nov 6, 2013 12:43am
Quoting JimmyC
{quote} Howzit! GU 1H Its retracing... like this.. {image} Very bullish at the mo G/L
it's clear
I'll wait if it'll reach yesterday high @ 6065 area otherwise I'll pass
Don't give up
  • #351,948
  • Nov 6, 2013 12:48am Nov 6, 2013 12:48am
Quoting Pumpndump
{quote} I think almost everyone in this room has a pending short at 1.612, not sure if that's a good thing!

I have it at 6180 78.6 Sweet spot between 78.6-88.6 Scott Carney's "turn around zone"
You might be thinking its lot further up.
20day ADR is 97pips which means in less then few days market most likely to reach it.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.h4.png Size: 46 KB
In trading, you have to be defensive and aggressive at the same time
  • #351,949
  • Nov 6, 2013 12:48am Nov 6, 2013 12:48am
Just a note of caution on being overly bullish...

H1 is showing signs that the move up may have run its course...
RSI and stochastics have confluence

I'll be sitting on my hands till it makes its mind up
Attached Image (click to enlarge)
Click to Enlarge Name: Divergence H1.png Size: 31 KB
  • #351,950
  • Nov 6, 2013 12:52am Nov 6, 2013 12:52am
Gidday GBP/US

Thanks for chart

Got a bit of hedging going

Trade small in this pair , seem to screw everything up any way

I just have to be right

only problem is it can take days for the lemons to turn into lemonade
  • #351,951
  • Nov 6, 2013 12:55am Nov 6, 2013 12:55am
Quoting Davit
{quote} I have it at 6180 78.6 Sweet spot between 78.6-88.6 Scott Carney's "turn around zone" You might be thinking its lot further up. 20day ADR is 97pips which means in less then few days market most likely to reach it. {image}

Yes good area also, I have this as an area to turn for a number of reasons, could be completely wrong though and will add to my position accordingly
  • #351,952
  • Nov 6, 2013 1:06am Nov 6, 2013 1:06am
maybe it'll continue to bearish till 1.6053 after some bullish activity for 24 hours at wednesday.
  • #351,953
  • Edited 1:28am Nov 6, 2013 1:17am | Edited 1:28am
Quoting Pumpndump
{quote} Yes good area also, I have this as an area to turn for a number of reasons, could be completely wrong though and will add to my position accordingly

You can not be completely wrong specially about a currency which is highly inflated without substance..
British Pound is most overrated currency now.
Lets put this in fundamental perspective
Biggest GB trading partner is Euro zone which is in stagnate economic environment much worse then US,
12-27% Unemployment and not expected to grow much until 2017
Majority of UK "growth" is around London but outside is totally different picture.
UK is developing scary housing bubble which is similar to 2008 bubble.Average household income is lower but borrowing is up.
Bank of England’s Mark Carney dogged by fears of U.K. housing bubble
In trading, you have to be defensive and aggressive at the same time
  • #351,954
  • Nov 6, 2013 1:28am Nov 6, 2013 1:28am
Quoting Pumpndump
{quote} Yes good area also, I have this as an area to turn for a number of reasons, could be completely wrong though and will add to my position accordingly

I think if the news in 30 minutes is bad, you'll be right.
  • #351,955
  • Nov 6, 2013 1:30am Nov 6, 2013 1:30am
Quoting pipcenturion
{quote} Hi bro, See attached screen shot for my entry on gbpchf. {image}

Thatīs nice. We were talking about GBPCAD though.
  • #351,956
  • Nov 6, 2013 1:30am Nov 6, 2013 1:30am
GU 15

Small bull flag price action broke-down after 1h bear signal should target 6062 area and then perhaps a bullish entry?
  • #351,957
  • Nov 6, 2013 1:33am Nov 6, 2013 1:33am
Quoting Davit
{quote} You can not be completely wrong specially about a currency which is highly inflated without substance.. British Pound is most overrated currency now. Lets put this in fundamental perspective Biggest GB trading partner is Euro zone which is in stagnate economic environment much worse then US, 12-27% Unemployment and not expected to grow much until 2017 Majority of UK "growth" is around London but outside is totally different picture. UK is developing scary housing bubble which is similar to 2008 bubble.Average household income is lower but...
I was talking about this before it came out.
  • #351,958
  • Nov 6, 2013 1:36am Nov 6, 2013 1:36am
Quoting geomink
I'll wait if it'll reach yesterday high @ 6065
let's see.............................
Don't give up
  • #351,959
  • Nov 6, 2013 1:47am Nov 6, 2013 1:47am
Quoting Davit
{quote} Nobody knows exactly.Perhaps not the answer you prefer but that's the honest truth. Take your 1 lot divide in 4 .25 and sell every 50pips until all 1 lot is invested then simply wait.With positive swap its not a bad strategy Regards
I do this a lot, I started doing this after the frustration of being stopped out frequently over the past 4 years I've been trading, I now use no stops (full year now) and i'm finally making good money. Generally my worst trades end up being the best trades, just gotta be patient, sometimes its only a day, others a few weeks
  • #351,960
  • Nov 6, 2013 1:50am Nov 6, 2013 1:50am
Deutsche morning brief on GBP

https://www.dropbox.com/s/j7bg45zesi...con%5B1%5D.pdf
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