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Cable Update (GBPUSD)

  • #354,061
  • Nov 22, 2013 8:50am Nov 22, 2013 8:50am
rally time?
  • #354,062
  • Nov 22, 2013 9:14am Nov 22, 2013 9:14am
Quoting chazzle
{quote} maybe a bit over-cautious, but closing it here - more chance of rolling over now as I see it {image}
good timing. only long in your setup?
fortis fortuna adiuvat
  • #354,063
  • Edited 9:54am Nov 22, 2013 9:15am | Edited 9:54am
Though there is bo in smaller tf that may confirm by breaking below 6209 for more down towards 6198/86 but actually this got life in H1 tf & so for further bull towards 6260.
Though as per previous H4 tf analysis it is enough it reached above 6200> 6224 if ok & any crazy can't exclude here as bull may find some way reach its first min target so nearer to have a gratification for its money already poured!!Let the week end as bullish with some crazy top & will look for bear /correction again next week long if ok.

Gold still not reached 1200 down to 1180 yet but still one leg should be there before the stop & bounce , limit up for down 1261.36. will wait next week for this target OK.

Take care .
fontu
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpusdh4.png Size: 34 KB
Click to Enlarge Name: gbpusdh1.png Size: 28 KB
Click to Enlarge Name: gbpusdm15.png Size: 30 KB
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #354,064
  • Nov 22, 2013 10:00am Nov 22, 2013 10:00am
One of the problems I'm having with Forex is that I keep expecting it to act like stocks. But unlike the stock market, forex seems to do a pretty good job of clearing out stops before finding a direction to move.

Then again, maybe I just haven't been around long enough to see a good solid move in a single direction. But with GBPUSD as most of my earning experience, it seems to me like they won't let you get away with tight stops. And in the case of the last few weeks, not even loose stops. I remember when Killer Whale was in this thread posting all the pips of profit he had from the down moves. And if he held, I'm sure that's close to being all gone now.

Gotta have a strong stomach for this rollercoaster ride, I'm discovering.
  • #354,065
  • Nov 22, 2013 10:07am Nov 22, 2013 10:07am
Quoting Baggi
One of the problems I'm having with Forex is that I keep expecting it to act like stocks. But unlike the stock market, forex seems to do a pretty good job of clearing out stops before finding a direction to move. Then again, maybe I just haven't been around long enough to see a good solid move in a single direction. But with GBPUSD as most of my earning experience, it seems to me like they won't let you get away with tight stops. And in the case of the last few weeks, not even loose stops. I remember when Killer Whale was in this thread posting...
rollercoaster ride

I keep scalping around for minutes. it seems to me to be the most riskaverse style.
fortis fortuna adiuvat
  • #354,066
  • Nov 22, 2013 10:15am Nov 22, 2013 10:15am
Quoting Baggi
One of the problems I'm having with Forex is that I keep expecting it to act like stocks. But unlike the stock market, forex seems to do a pretty good job of clearing out stops before finding a direction to move. Then again, maybe I just haven't been around long enough to see a good solid move in a single direction. But with GBPUSD as most of my earning experience, it seems to me like they won't let you get away with tight stops. And in the case of the last few weeks, not even loose stops. I remember when Killer Whale was in this thread posting...

i dont know any1 can trade this with a tight stop ..i think u would lose much more
  • #354,067
  • Nov 22, 2013 10:22am Nov 22, 2013 10:22am
go short GU for short term...will not start to rally..
  • #354,068
  • Nov 22, 2013 10:22am Nov 22, 2013 10:22am
Quoting nAVIN2007
{quote} i dont know any1 can trade this with a tight stop ..i think u would lose much more
tight stop? what about a time-stop? time-intensive, but not as risky as other setups, i think.
fortis fortuna adiuvat
  • #354,069
  • Nov 22, 2013 10:25am Nov 22, 2013 10:25am
Quoting deltaone
{quote} good timing. only long in your setup?
it's best to stay long ... if you think it's bullish
  • #354,070
  • Nov 22, 2013 10:33am Nov 22, 2013 10:33am
todays closing is important for gbp usd

Must be below 6220
The Phoenix Trader....
  • #354,071
  • Nov 22, 2013 10:37am Nov 22, 2013 10:37am
Quoting chazzle
{quote} it's best to stay long ... if you think it's bullish
this is true - if you think (like me) that the cable is in rally-modus. scalping in the direction of the trend.
fortis fortuna adiuvat
  • #354,072
  • Nov 22, 2013 11:09am Nov 22, 2013 11:09am
yeah - systematic trading
fortis fortuna adiuvat
  • #354,073
  • Nov 22, 2013 11:25am Nov 22, 2013 11:25am
meanwhile, i drink beer: cheers!
fortis fortuna adiuvat
  • #354,074
  • Nov 22, 2013 11:52am Nov 22, 2013 11:52am
Quoting Nfp
go short GU for short term...will not start to rally..
May be but not reliable for any trade & keep , in a bull set up at top in a smaller tf .in H4 tf , the top may not end even > go for min target first to do so! so wait for next week top again & again for the failure when will start, must at times for correction at least , otherwise bull continue .
fontu
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdm5.png Size: 26 KB
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #354,075
  • Nov 22, 2013 12:26pm Nov 22, 2013 12:26pm
https://media.dailyfx.com/illustrati...y_Object_1.png




Meanwhile something out of the real trading world:



Statistics from a large retail trader firm (250.000 investors):

73% of retail traders are short EUR/USD. – EUR is rising instead
81% are short GBP/USD – GBP/USD is rising instead
45% are long USD/JPY – USD/JPY is rising
79% are long USD/CHF – USD/CHF is falling instead
78% are short EUR/JPY – EUR/JPY is instead rising
______________________________________________________________
Conclusion: retail traders are principle brokerages best friends as principal brokers are making money of retail traders with their B Book (making money of their own clients being on the wrong side of the trade)


Advice: leave it to professionals to trade your money. Retail traders are losing diminishing their accounts latest after 3-6 months trading WITHOUT experience!
________________________________ Errare humanum est
  • #354,076
  • Nov 22, 2013 1:25pm Nov 22, 2013 1:25pm
short GU..dont ask why
  • #354,077
  • Nov 22, 2013 1:48pm Nov 22, 2013 1:48pm
Quoting Nfp
short GU..dont ask why
Stop?
  • #354,078
  • Nov 22, 2013 2:02pm Nov 22, 2013 2:02pm
As a rookie can someone please explain to me if so many traders are going short why is the price still rising?
  • #354,079
  • Nov 22, 2013 2:05pm Nov 22, 2013 2:05pm
Quoting InNeedOfHelp
As a rookie can someone please explain to me if so many traders are going short why is the price still rising?

we have no money to move the market..and are apparently missing something
  • #354,080
  • Nov 22, 2013 2:08pm Nov 22, 2013 2:08pm
Quoting InNeedOfHelp
As a rookie can someone please explain to me if so many traders are going short why is the price still rising?
Simple: because the charts/diagrams people are posting up referring to trader positioning represents a small part of the 11% or so that retail traders make up of daily volume . And a small part of 11% is not enough to move the market
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