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Cable Update (GBPUSD)

  • #354,501
  • Nov 27, 2013 3:58am Nov 27, 2013 3:58am
Quoting deltaone
i love the cable 10 pips short from 1,62242 -> 1,62142 20 pips long from 1,62242 -> 1,62442 now i lean back and watch. waiting for the cbi realized sales...


Cheers mate. I took a hit trying to short, the spread was horrible. But I made it all back and then some on the way up
All posts are my personal opinion
  • #354,502
  • Nov 27, 2013 4:00am Nov 27, 2013 4:00am
Quoting lumesh
how massive of a stop hunt is this start building your short positions
Should end somewhere between 1.6300 and 1.6340
Those who say it cannot be done should not interrupt those who are doing it
  • #354,503
  • Nov 27, 2013 4:02am Nov 27, 2013 4:02am
Quoting lumesh
{quote} perhaps ?
Perhaps this is the scenario being played out. A bo of a 2year old TL. I'm not saying that is "the reason" because in forex it's difficult to know. I have found however 1 reason is as good as another in that they often lead to the same result.
As the lights go by so too do the shadows move
  • #354,504
  • Nov 27, 2013 4:03am Nov 27, 2013 4:03am
Quoting akki300986
{quote} hey isnt ur major technical resistance been broken and isnt just air up north now?? i was thinking of loading up more longs
I don't care how much air is up north. I am behind the sharks with a long at 1.6242 and already set at BE. It can do whatever it pleases now. Zero risk for me.
Those who say it cannot be done should not interrupt those who are doing it
  • #354,505
  • Nov 27, 2013 4:03am Nov 27, 2013 4:03am
Quoting PipTrapper
{quote} Should end somewhere between 1.6300 and 1.6340
So long as the Yen is weak to the moon Alice! Weekly looking very bullish now and thin volume going into the weekend
  • #354,506
  • Nov 27, 2013 4:06am Nov 27, 2013 4:06am
Similar weekly TL's have been broken on EJ, ECad, and EU to name the ones I was watching. GU was just next in line.
As the lights go by so too do the shadows move
  • #354,507
  • Nov 27, 2013 4:06am Nov 27, 2013 4:06am
short GJ and GU
Pecuniae obediunt omnia
  • #354,508
  • Nov 27, 2013 4:07am Nov 27, 2013 4:07am
Quoting PipTrapper
{quote} Don't look for shorts till Monday. Let the sharks eat up all the little minnows that are swimming South first. By Monday there will be new minnows swimming north and the sharks will start swimming south. If you and I as minnows are to survive, we must stay behind the sharks and not in front of them. {image}

thanks for worrying. I am fully aware of the possibility of another leg up above 1.63 so i don't have a 10 pip stop on this. I am also aware, however, that the move was caused by the massive orders that stood at 6250-6300 with the majority at the former.
  • #354,509
  • Nov 27, 2013 4:08am Nov 27, 2013 4:08am
Quoting Rtm
{quote} Cheers mate. I took a hit trying to short, the spread was horrible. But I made it all back and then some on the way up
cheers and congratulations! yeah, the upmove was strong. i wonder if it will continue.
fortis fortuna adiuvat
  • #354,510
  • Nov 27, 2013 4:10am Nov 27, 2013 4:10am
Quoting PipTrapper
{quote} Should end somewhere between 1.6300 and 1.6340
"my" R3 is 1,6320. could be the top today?
fortis fortuna adiuvat
  • #354,511
  • Nov 27, 2013 4:11am Nov 27, 2013 4:11am
Quoting RodMca
{quote} So long as the Yen is weak to the moon Alice! Weekly looking very bullish now and thin volume going into the weekend
That may be true, but when the USD resurges next week, I would not be betting on massive cable gains vs the dollar. Perhaps selling EUR/GBP rallies would be a better idea.
Those who say it cannot be done should not interrupt those who are doing it
  • #354,512
  • Nov 27, 2013 4:13am Nov 27, 2013 4:13am
top of monthly triangle being challenged strongly now bounce or break from here ?

Best Wishes
Attached Image (click to enlarge)
Click to Enlarge Name: monthly....jpg Size: 103 KB
it's all gone a bit........
  • #354,513
  • Nov 27, 2013 4:14am Nov 27, 2013 4:14am
Quoting lumesh
{quote} thanks for worrying. I am fully aware of the possibility of another leg up above 1.63 so i don't have a 10 pip stop on this. I am also aware, however, that the move was caused by the massive orders that stood at 6250-6300 with the majority at the former.
Precisely. I only posted that comment because you mentioned shorting G/U now.
If we get a 6300/40 top today, then you could go for a few pips south to retest the broken resistance as support I suppose. I won't be trying that though as I expect USD to weaken into the holiday on very thin liquidity and a stop clearing exercise.
Those who say it cannot be done should not interrupt those who are doing it
  • #354,514
  • Nov 27, 2013 4:15am Nov 27, 2013 4:15am
Quoting petetong
top of monthly triangle being challenged strongly now bounce or break from here ? Best Wishes {image}
If it breaks, it's going to be interesting.
I wouldn't rule out a bull trap though.
Those who say it cannot be done should not interrupt those who are doing it
  • #354,515
  • Nov 27, 2013 4:15am Nov 27, 2013 4:15am
Quoting Davit
WTF just happened!!
it feels so so good to watch the testicles of all em arrogant and egotistical bears get crushed .

http://www.sherv.net/cm/emo/happy/ha...y-emoticon.gif
  • #354,516
  • Nov 27, 2013 4:16am Nov 27, 2013 4:16am
Quoting PipTrapper
{quote} That may be true, but when the USD resurges next week, I would not be betting on massive cable gains vs the dollar. Perhaps selling EUR/GBP rallies would be a better idea.
I hope you are right but NFP next Friday God knows what next week holds. Nobody wants the Yen or the Dollar and as far as I'm concerned once the FED keep rates low, Taper or no Taper I don't see there being much demand for the dollar. Certainly not while othe currencies like sterling are yielding greater returns. Of course I may be wrong but I'm hesitant on going short
  • #354,517
  • Nov 27, 2013 4:18am Nov 27, 2013 4:18am
Quoting Matts Micro
{quote} Perhaps this is the scenario being played out. A bo of a 2year old TL. I'm not saying that is "the reason" because in forex it's difficult to know. I have found however 1 reason is as good as another in that they often lead to the same result.

As many of you know i am not a big believer of higher timeframe technical scenario plays. I just have yet to find a person that can logically convince me of technical analysis having such a power.

I believe in econ data and its trend ("smart" money), cross asset correlations ("smart" money) and retail positioning/orders ("dumb" money). I use quotation marks because in reality the same set of people can at one time be the "smart" while on other occasions the "dumb"
  • #354,518
  • Nov 27, 2013 4:19am Nov 27, 2013 4:19am
Quoting lumesh
{quote} ... in reality the same set of people can at one time be the "smart" while on other occasions the "dumb"
I have no clue what I'm talking about.
  • #354,519
  • Nov 27, 2013 4:19am Nov 27, 2013 4:19am
Just Wait the next week will be fun to see what they try and do...


It seems like a continual game the FED and the ECB are playing - each day saying different things to mess with the market.

I dont know why traders even trade based on the rubbish these guys say - wait for the official data and the important people to talk and trade based on FACT not RUMOUR...

Happy Trading guys and girls

  • #354,520
  • Nov 27, 2013 4:20am Nov 27, 2013 4:20am
Quoting Makavell
{quote} it feels so so good to watch the testicles of all em arrogant and egotistical bears get crushed . {image}
http://www.easyfreesmileys.com/smileys/lingua3.gif
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