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Cable Update (GBPUSD)

  • #353,981
  • Nov 22, 2013 12:21am Nov 22, 2013 12:21am
Quoting TauTrader
{quote} Good day to you, GM I follow retail stops through one of the larger brokers in Europe. It does give a little guidance as to general sentiment. We are currently sitting with massive retail short positions still active. Below a snapshot of where those stops are placed. Now - obviously - these change as traders exit or TP - but we have thousands of stops sitting between 1.6210 and 1.6270, whilst very little is going on below price in terms of long stops. This is not good for bears - in my opinion. On the book, there are over 21'000 shorts stops...
Hi Tau,

Interesting piece of data.
Initial market reaction also confirms existence of quite a few stops having been triggered above 1.6178.
Those stop orders on the book reflects the setup we see on the daily chart, i.e. consolidation after a rally; understandably long stops would be much lower below where the run-up started and a lot more densely packed short stops just above the range (i.e. higher breakout risk).
Attached Image (click to enlarge)
Click to Enlarge Name: GBP30.png Size: 14 KB
Hear the music before the song is over ...
  • #353,982
  • Nov 22, 2013 1:27am Nov 22, 2013 1:27am
Quoting GlobalMacro
{quote} Hi Tau, Interesting piece of data. Initial market reaction also confirms existence of quite a few stops having been triggered above 1.6178. Those stop orders on the book reflects the setup we see on the daily chart, i.e. consolidation after a rally; understandably long stops would be much lower below where the run-up started and a lot more densely packed short stops just above the range (i.e. higher breakout risk). {image}
Sir,

Yip - upward pressure seems to remain. I have closed my shorts for a loss and turned around earlier this morning. Increased lots. Idea is to recapture some. I'm looking at the previous 8hr bar and saw more shorts entering - could push us up.

Will then clear and look to short again long term.

Trade well

Regards
  • #353,983
  • Nov 22, 2013 1:32am Nov 22, 2013 1:32am
Lets see how without data pair has moved, ends where. being Friday i have always found market generally follows Thursdays direction. so 6240 is nice level to be watched. downside 6166 and 6120 . would be appropriate level.

currencies are nicely manipulated. i like the way it has been done.
The Phoenix Trader....
  • #353,984
  • Nov 22, 2013 1:59am Nov 22, 2013 1:59am
Is there any chance to go to 1.645....and then spontanously go down?
The Market pays you to be disciplined
  • #353,985
  • Nov 22, 2013 2:05am Nov 22, 2013 2:05am
Quoting TauTrader
{quote} Sir, Yip - upward pressure seems to remain. I have closed my shorts for a loss and turned around earlier this morning. Increased lots. Idea is to recapture some. I'm looking at the previous 8hr bar and saw more shorts entering - could push us up. Will then clear and look to short again long term. Trade well Regards
Good day,

Closed my longs. Was able to walk away with a nett profit taking the short losses into account. Happy. Off to go for 2 meetings. Will see how high we go. Still in my long term sell zone. So - will look to short again.

Regards
  • #353,986
  • Nov 22, 2013 2:07am Nov 22, 2013 2:07am
in my point of view, this is a clear uptrend. next goal 1,6231.
fortis fortuna adiuvat
  • #353,987
  • Nov 22, 2013 2:10am Nov 22, 2013 2:10am
do not think we will clear 1.6230 today. If we do - it can be traded back to 1.6230.

Regards
  • #353,988
  • Nov 22, 2013 2:36am Nov 22, 2013 2:36am
Quoting TauTrader
do not think we will clear 1.6230 today. If we do - it can be traded back to 1.6230. Regards
Good day,

Before I run off - I have to retract the above statement. I had my things mixed up. Please do not take note of the above 1.6230 level.

All the best
  • #353,989
  • Nov 22, 2013 2:40am Nov 22, 2013 2:40am
I have posted link to free Bloomberg Assessment Test which you can take if you have time and are interested in taking it:

http://www.forexfactory.com/showthre...68#post7107068
  • #353,990
  • Nov 22, 2013 3:03am Nov 22, 2013 3:03am
Good Morning!
Today's S/R Levels on MT4 Templates

EURO
CABLE
AUDUSD

http://www.forexfactory.com/showthre...98#post7107098
FX is a Bitc*h!, No one keeps me wake all night but FX does!!
  • #353,991
  • Nov 22, 2013 3:04am Nov 22, 2013 3:04am
20 pips in one minute, a perfect scalp in eurusd. i call it the ifo-scalp
fortis fortuna adiuvat
  • #353,992
  • Nov 22, 2013 3:24am Nov 22, 2013 3:24am
GBPUSD is in the up trend since yesterday. Expect the price to make new tops . Look for long position at 1.6143-38 level ( at the trendline). Look also for long position after sigficant break of 1.6256 level. On the other side look for short position on top at 1.6256-61 level.
Attached Image (click to enlarge)
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Price Action + KISS + PIE = Forex-Entourage
  • #353,993
  • Nov 22, 2013 3:29am Nov 22, 2013 3:29am
Morning gents,

Been a tough week, ea stopped out b/e, way underwater geppy with two big shorts, and all of my shorts now triggered on gu making that a significant risk as well, let's see it goes down from here.

All the best,
  • #353,994
  • Nov 22, 2013 3:38am Nov 22, 2013 3:38am
Quoting Pumpndump
Morning gents, Been a tough week, ea stopped out b/e, way underwater geppy with two big shorts, and all of my shorts now triggered on gu making that a significant risk as well, let's see it goes down from here. All the best,
geppy the one that screwed me the most..yesterday it just flew..not sure whats going on but today hopefully it bounces back
  • #353,995
  • Nov 22, 2013 3:38am Nov 22, 2013 3:38am
Quoting chazzle
GU D1 196 will be interesting probably {image}
GU M15

Break and retest - taking a long here
Attached Image (click to enlarge)
Click to Enlarge Name: gum15.PNG Size: 27 KB
  • #353,996
  • Nov 22, 2013 3:52am Nov 22, 2013 3:52am
Quoting nAVIN2007
{quote} geppy the one that screwed me the most..yesterday it just flew..not sure whats going on but today hopefully it bounces back
Good Day Sir,

I remain convinced this is a stop clear out, I did initially have the plan of cutting at 164 but that's never happening with my wave count. Cutting a short here could be a HUGE blunder and won't cost a great deal more to really know the answers.

Thick skin and lobster buffet is the order of the day, plenty of plonk, and I feel like G & T is the appropriate cap today

Best Regards
  • #353,997
  • Nov 22, 2013 3:55am Nov 22, 2013 3:55am
Just to add, a couple of weeks ago I was scratching my head about how mm cleared out stops at 164 or turned traders long. I think we are seeing that now. I see too Tau had the same thinking.
  • #353,998
  • Edited 4:23am Nov 22, 2013 4:11am | Edited 4:23am
Quoting mima
Is there any chance to go to 1.645....and then spontanously go down?

Double bottom 1.48 and inverted hns on weekly chart shows more upside if neckline broken at 1.63 above
probably C of some big correction..
14QDuJtV7okxhBzC86FwawaR6tV5LvetLq
  • #353,999
  • Nov 22, 2013 4:12am Nov 22, 2013 4:12am
Quoting Pumpndump
{quote} Good Day Sir, I remain convinced this is a stop clear out, I did initially have the plan of cutting at 164 but that's never happening with my wave count. Cutting a short here could be a HUGE blunder and won't cost a great deal more to really know the answers. Thick skin and lobster buffet is the order of the day, plenty of plonk, and I feel like G & T is the appropriate cap today Best Regards

i know how u feel ...geppy has travelled from the basement to the moon and still looking to go higher it seems
what can u do?
  • #354,000
  • Nov 22, 2013 4:27am Nov 22, 2013 4:27am
Quoting nAVIN2007
{quote} i know how u feel ...geppy has travelled from the basement to the moon and still looking to go higher it seems what can u do?
Sir, my solution is big bollocks and short this thing down 2000 pips hopefully. As long as my rr lines up I will take any bet, I'm not worried if I need to be in the trade for a long while.

Best Regards
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