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Cable Update (GBPUSD)

  • #352,281
  • Nov 7, 2013 9:34am Nov 7, 2013 9:34am
Quoting okanemici
{quote} I totally agree you but they release a data in this situations to completely change the direction.And they did this many many times lately.Haven't they ? Usdlfx,gold charts suggest that, usdlfx is going down and gold is going up.Either today or tomorrow the latest. {image}
...to answer your question re why did gold shoot up - only on a 4 hr candle, I might add - well, the US Administration reopened for business after a couple of weeks of cocktails and fried chicken wings.

So, the uncertainty over what would happen for the first week sent buyers of the Dollar away. Once things settled down, they came back to the Dollar, and Gold resumed its normal pattern of manipulation.

Today's rate cut in Europe may also weigh heavy on Gold – money perhaps shifting out of the circus known as Europe, and into the biggest game on the block... namely the destruction of everything peripheral to the current global reserve currency.

Returning to the four hour bar that you focused upon; one of my main reasons for always submitting multiple timeframe charts is so that the viewer can see that I try to work from the top down in my analysis. In addition to this, I always attempt to retain a respect for the longer-term trends, and assess whether these can be correlated to statements proffered for shorter-term trends.
Author of: For Pip's Sake! (Available at Amazon... :-) )
  • #352,282
  • Nov 7, 2013 9:44am Nov 7, 2013 9:44am
Gonna be epic - either way
  • #352,283
  • Nov 7, 2013 10:02am Nov 7, 2013 10:02am
Good day,

Decided to close all and re-enter long straight away. Just to manage risk. Better position for me than this morning. And some profit too.

All the best
Attached Image (click to enlarge)
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  • #352,284
  • Nov 7, 2013 10:05am Nov 7, 2013 10:05am
Good day,

New first entry long

all the best
Attached Image (click to enlarge)
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  • #352,285
  • Nov 7, 2013 10:09am Nov 7, 2013 10:09am
Added G/U Short at 1.6043
SL at 1.6083
Open target for now

GBPUSDCALL
Those who say it cannot be done should not interrupt those who are doing it
  • #352,286
  • Nov 7, 2013 10:21am Nov 7, 2013 10:21am
Quoting TauTrader
Good day, New first entry long all the best {image}
Good day,

Closed that as well. Will wait for a drop to re-enter long. If the daily closes bullish - I will not go long tomorrow.

Regards
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusddaily.png Size: 65 KB
  • #352,287
  • Nov 7, 2013 10:23am Nov 7, 2013 10:23am
Quoting PipTrapper
Added G/U Short at 1.6043 SL at 1.6083 Open target for now GBPUSDCALL
Stopped out on cable but re-entered at 1.6078. SL 1.6142, TP still open. Last attempt.

GBPUSDCALL
Those who say it cannot be done should not interrupt those who are doing it
  • #352,288
  • Nov 7, 2013 10:25am Nov 7, 2013 10:25am
Quoting TauTrader
{quote} Good day, Closed that as well. Will wait for a drop to re-enter long. If the daily closes bullish - I will not go long tomorrow. Regards {image}
Actually now wanting a drop..

Strange
  • #352,289
  • Nov 7, 2013 10:26am Nov 7, 2013 10:26am
Quoting TauTrader
{quote} Actually now wanting a drop.. Strange
Not that strange. That surge up was the normal rate fixing they do at this time of day in London. Usually it hits at 4PM London time on the nose, but today it was a bit late. That's why I got trapped. But it will take more than that to dissuade me
Those who say it cannot be done should not interrupt those who are doing it
  • #352,290
  • Nov 7, 2013 10:29am Nov 7, 2013 10:29am
Quoting PipTrapper
{quote} Not that strange. That surge up was the normal rate fixing they do at this time of day in London. Usually it hits at 4PM London time on the nose, but today it was a bit late. That's why I got trapped. But it will take more than that to dissuade me
Good day to you, PipTrapper

As said - I'm a bad trader. No clue as to the goings on in the background.

Added first long again

I wish you all success

Regards
  • #352,291
  • Nov 7, 2013 10:37am Nov 7, 2013 10:37am
holy sHi ,its crazy out there picked some jpy long ,already short eur jpy ,maintain $ position as gu d1 bearish



Quoting Bones
Great trading conditions ,really gbp jpy ,in interesting location {quote}
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  • #352,292
  • Nov 7, 2013 10:45am Nov 7, 2013 10:45am
WoW.. Nice spike took me out.. New levels in pink from the second trendline break @1.6029
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  • #352,293
  • Nov 7, 2013 10:46am Nov 7, 2013 10:46am
Quoting Bones
holy sHi ,its crazy out there picked some jpy long ,already short eur jpy ,maintain $ position as gu d1 bearish {quote} {image}
solid there - Mr.B

GU is setting up for an epic long on the daily.

Well done on your trades!

All the best
  • #352,294
  • Nov 7, 2013 10:56am Nov 7, 2013 10:56am
Howzit GU!

Its been a great day, thanks to Mario.
I'm closed except for a small investment in Twitter 0.001%

Big picture QE appears essential, EUR deflation sparked the 25 basis point cut. EU posted a rebound and the hourly now looks to close a shooting star.

GU Daily

The close is looking to print higher than 1.604, the swing low didn't break 1.6, The break of 1.612 would be very bullish but it will be better to wait for the close.
RSI is still capped beneath a descending trend line off -ve divergence. It would seem a wedge is printing daily but we will need to wait for the Friday close to confirm.

Enjoy the rest of your trading session



G/L
Attached Image (click to enlarge)
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  • #352,295
  • Nov 7, 2013 11:21am Nov 7, 2013 11:21am
good day,

Like, but do not like the current position.

Want a short/ bear on the daily close. If this bar ends bullish - i'm out.

bullishness is f*cking up my plan.

Regards
  • #352,296
  • Nov 7, 2013 11:23am Nov 7, 2013 11:23am
Quoting TauTrader
good day, Like, but do not like the current position. Want a short/ bear on the daily close. If this bar ends bullish - i'm out. bullishness is f*cking up my plan. Regards
Agree!
  • #352,297
  • Nov 7, 2013 11:30am Nov 7, 2013 11:30am
Quoting e061578
{quote} Agree!
sir e,

Always expect the unexpected.

Meh

All success to you

regards
  • #352,298
  • Nov 7, 2013 11:42am Nov 7, 2013 11:42am
Good day to you,

looks like we will have a slightly bullish candle..

Could well continue - but a sign for me to run. So- closing all again now.

Reaped a good lot of profit from this daily candle.

Fortunate.

Will not be posting tomorrow - travelling. Unless, off course,I wake up to a bearish daily

All the best to you
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusddaily.png Size: 66 KB
  • #352,299
  • Nov 7, 2013 11:44am Nov 7, 2013 11:44am
Why gbp/usd and eur/usd is rising at ths moment???
  • #352,300
  • Nov 7, 2013 11:48am Nov 7, 2013 11:48am
Quoting jitu.ahuja
Why gbp/usd and eur/usd is rising at ths moment???
why not?
Don't have an ego. Always question yourself and your ability.
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