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Cable Update (GBPUSD)

  • #353,241
  • Nov 15, 2013 1:59am Nov 15, 2013 1:59am
Quoting sym
Good morning guys it's a while a didn't post here... a little overwhelmed. My view: I see majority of retailers are short, for me that means cable is going up, at least for the moment. Trade well

retail traders are tiny part of the market and I can pretty much say they are irrelevant as far as positions.
Bull run is the result of US pathetic Red Numbers.
In trading, you have to be defensive and aggressive at the same time
  • #353,242
  • Nov 15, 2013 2:03am Nov 15, 2013 2:03am
But surely the UK numbers haven't been any better recently?

Quoting Davit
{quote} retail traders are tiny part of the market and I can pretty much say they are irrelevant as far as positions. Bull run is the result of US pathetic Red Numbers.
  • #353,243
  • Nov 15, 2013 2:06am Nov 15, 2013 2:06am
Quoting InNeedOfHelp
But surely the UK numbers haven't been any better recently? {quote}

We don't have Carney! We got droopy Bernanke ,guy without balls, QE should of been executed in Sept as he promised.He just got owned by Wall Street.
Its obvious US stocks do better with free money pumping in economy while debt is getting out of control.

Read New Hedge Fund Wizards.You'll find great interviews with top managers who know US is falling apart and fast.
I would of pasted the interview but don't want to risk copy rights issues.
In trading, you have to be defensive and aggressive at the same time
  • #353,244
  • Nov 15, 2013 2:06am Nov 15, 2013 2:06am
  •  sym
  • Joined Apr 2011 | Status: Working... (too much) :) | 356 Posts
Quoting Davit
{quote} retail traders are tiny part of the market and I can pretty much say they are irrelevant as far as positions. Bull run is the result of US pathetic Red Numbers.
Agreed.
But it's an indicator (or tool) like sma, macd or anything else.
You can read it or not.
--- nothing to say ---
  • #353,245
  • Nov 15, 2013 2:07am Nov 15, 2013 2:07am
My preferred wave count. GU is in wave B which is correction of wave A . Now the question is how strong this wave B is? BTW at the end of wave B a downward move towards 1.57xx-1.56xx is expected.

Attached Image (click to enlarge)
Click to Enlarge Name: GU B.png Size: 39 KB
Never test the depth of water with both feet.
  • #353,246
  • Nov 15, 2013 2:22am Nov 15, 2013 2:22am
Quoting sym
{quote} Agreed. But it's an indicator (or tool) like sma, macd or anything else. You can read it or not.

Someone posted a results of market direction based on retail positions and pretty much even no edge.
I can't recall who but I vividly remember.
Regards
In trading, you have to be defensive and aggressive at the same time
  • #353,247
  • Nov 15, 2013 2:31am Nov 15, 2013 2:31am
Quoting sym
{quote} Agreed. But it's an indicator (or tool) like sma, macd or anything else. You can read it or not.
Retail positioning is not an indicator like sma or macd. sma and macd are calculated from past price. The FX market is moved by commercials and hedge funds. Retail positions are basically irrelevant.
ignore wackos and psychos, including myself. But I can't add myself to iggy
  • #353,248
  • Nov 15, 2013 2:35am Nov 15, 2013 2:35am
GBPUSD Friday setups and analysis @ http://eurusd-price-action.blogspot....ay-setups.html
Price Action + KISS + PIE = Forex-Entourage
  • #353,249
  • Nov 15, 2013 2:40am Nov 15, 2013 2:40am
Quoting fxlover11
My preferred wave count. GU is in wave B which is correction of wave A . Now the question is how strong this wave B is? BTW at the end of wave B a downward move towards 1.57xx-1.56xx is expected. {image}
Can i ask, is "my preferred wave count" purely objective? Are you short this pair? Also, could you show the other variants, if there are any, and reasons why they are no preferred? Are there wave counts which show this going up? I really know nothing about these waves but am intrigued.
Thanks.
  • #353,250
  • Nov 15, 2013 2:44am Nov 15, 2013 2:44am
  •  sym
  • Joined Apr 2011 | Status: Working... (too much) :) | 356 Posts
Quoting ffleo
{quote} Retail positioning is not an indicator like sma or macd. sma and macd are calculated from past price. The FX market is moved by commercials and hedge funds. Retail positions are basically irrelevant.
Agreed.

Indicators are lagging, retailers are always wrong (at least 90% of them/us).
Time will tell us
--- nothing to say ---
  • #353,251
  • Nov 15, 2013 2:44am Nov 15, 2013 2:44am
I'm thinking around 1.62 would be a good place to short
Come with me if you want to live....
  • #353,252
  • Nov 15, 2013 2:57am Nov 15, 2013 2:57am
Quoting aBitWonKy
{quote} Can i ask, is "my preferred wave count" purely objective? Are you short this pair? Also, could you show the other variants, if there are any, and reasons why they are no preferred? Are there wave counts which show this going up? I really know nothing about these waves but am intrigued. Thanks.
Sometime wave analyst becomes confused to detect whether the wave is corrective or impulsive. What I counted as wave A and B in above post can be wave 1 and wave 2 instead of it. If that happen a very strong downward move will happen and that will be the end of bull run. But see the real picture is GBP is much strong currency atm. So only the BOE or very bad fundamentals can make it very weak and change the trend. As GBP is much strong and USD is in correction so I have mentioned this count as preferred, where GBP will go further up after correction towards 1.57xx -1.58xx. No currency can go straight up or down.

I am short and in underwater.
Never test the depth of water with both feet.
  • #353,253
  • Nov 15, 2013 3:11am Nov 15, 2013 3:11am
Short term view.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdth4.png Size: 60 KB
  • #353,254
  • Nov 15, 2013 3:15am Nov 15, 2013 3:15am
Gotta break this 1.3447 level on euro and its on to the downside
  • #353,255
  • Nov 15, 2013 3:18am Nov 15, 2013 3:18am
Quoting 1pipperhour
Short term view. {image}

Only 1.18hr in London and NY coming up so there is no real evidence of rejection although that would be great.
In trading, you have to be defensive and aggressive at the same time
  • #353,256
  • Nov 15, 2013 3:30am Nov 15, 2013 3:30am
already closed all long on this range... flat on GU and focus on another pair for awhile...

happy weekend for 2morrow...

Quoting iqyu5an
{quote} as my prev post.. i wanna review my long around 604x/7x. may be partial TP. and gonna check tomorrow to reload another long somewhere
not euphoria follower
  • #353,257
  • Nov 15, 2013 3:39am Nov 15, 2013 3:39am
Quoting Davit
{quote} Only 1.18hr in London and NY coming up so there is no real evidence of rejection although that would be great.
Davit been waiting for your response on email.

Please check your ff inbox

thanks
Price Is The Best Indicator Itself.
  • #353,258
  • Nov 15, 2013 3:45am Nov 15, 2013 3:45am
Nothing in the way of uk data...some U.s stuff later...daily yesterday closed as a...well I don't really know what you'd call it - it had a small bullish body and long wicks but the lower wick was longer than the upper. Bearish so far today. 1Hr chart is below.

Best Wishes
Attached Image (click to enlarge)
Click to Enlarge Name: 1hr.jpg Size: 119 KB
it's all gone a bit........
  • #353,259
  • Nov 15, 2013 3:52am Nov 15, 2013 3:52am
Quoting 1pipperhour
Short term view. {image}

I like that.

Much better if takes place before NY session ends.
  • #353,260
  • Nov 15, 2013 4:13am Nov 15, 2013 4:13am
Like every one else - I don't know what will happen but looking at daily chart (below) - no way is this bearish - it is rangy ...on weekly time frame we have that big bearish candle a couple of weeks back and the hi of this hasn't been taken yet but other than this and the evening star candle before it this time frame too doesn't look overly bearish...does it ..? Just trying to get a handle on the bigger picture although these t/f's are pretty much irrelevant to those I operate on.

Best Wishes.
Attached Image (click to enlarge)
Click to Enlarge Name: daily.jpg Size: 125 KB
it's all gone a bit........
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