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Cable Update (GBPUSD)

  • #355,021
  • Nov 30, 2013 3:09am Nov 30, 2013 3:09am
Cable and Dollar_My six charts' worth_30.11.13


Well, Cable didn’t quite reach the 61.8 FE, but she certainly behaved as previously projected. I also think that the slaves to sales – oops, I mean citizens showing how thankful they are for what they have – in the US, gave a little room for the rest of us to be free of a floundering fiat fart… if only for the weekend.

As such, I have closed off the short on EG a little earlier than planned, as Cable may be approaching a potential turning point, and the coalition formed in Germany this week may see some surprises for the strength of the Euro come next week when everyone is back at their desks.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: gbpusdweekly.png Size: 80 KB
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Author of: For Pip's Sake! (Available at Amazon... :-) )
  • #355,022
  • Edited 3:58am Nov 30, 2013 3:14am | Edited 3:58am
EG_My three charts' worth_30.11.13

For anyone curious, I was chasing the 61.8 FE, but considering the points aforementioned in my previous post, and that EG on the monthly is not too far from the last aqua MA of the Guppy profile, and I took what I had and ran.

Yeah, I got cold feet, but this trade had been open for quite some time, and it would be a shame not to realise profits in the event of any upset next week/new month.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurgbpmonthly.png Size: 71 KB
Click to Enlarge Name: eurgbpweekly.png Size: 79 KB
Click to Enlarge Name: eurgbpdaily.png Size: 79 KB
Author of: For Pip's Sake! (Available at Amazon... :-) )
  • #355,023
  • Nov 30, 2013 3:20am Nov 30, 2013 3:20am
Sorry for large type on post above - for some reason I can't get it to be any smaller/usual size ?

G/L
ex member
  • #355,024
  • Nov 30, 2013 4:09am Nov 30, 2013 4:09am
Quoting Baggi
{quote} Looks like a case of setting my stops too tightly. I'm learning a lesson here. When I buy small, I don't make as much money but I can keep my stops farther away. This means I usually end up making money. Just not a lot. When I buy large, I get too nervous and make my stops too tight. I was pretty confident that thing would go up from where I bought, which was around 1.6338. But I set my stop at 1.6320. And when it missed that and started heading up strong I thought, "phew! I did it" then went to bed. Lesson learned. Smaller lot's with larger...
i would say "welcome to the club"
definetly a large position requires strong nerves. the smaller the account, the stronger nerves you need!
but in the same time, the smaller the account, still you need strong nerves because respecting a good money management, and a good trading behavior but just to see small profits coming, is really frustrating and at a certain points nerves could give up



so in the end, do we need more money or more nerves (and patience) ? a larger equity helps. but in the same time, if one is unable to keep a good behavior with a 1-2-3k account, why should he/she switch behavior with a 50-80-150k account?



it's definetly a kind of 'loop', there is not a correct answer. and this is one of the craziest things about trading. some days i feel like the most part of this activity is about studying and knowing myself :nerd:
90% of traders use TA, indicators and prediction
  • #355,025
  • Nov 30, 2013 4:20am Nov 30, 2013 4:20am
Quoting _BBKing_
{quote} some days i feel like the most part of this activity is about studying and knowing myself :nerd:
Stick with that feeling and you will do well.
Those who say it cannot be done should not interrupt those who are doing it
  • #355,026
  • Nov 30, 2013 6:04am Nov 30, 2013 6:04am
It seems very well to me that the markets are frontrunning very far ahead of the BoE by pricing in an earlier-than-expected rate hike.

While it is true that inflation is still a borderline concern and that the BoE is showing signs of concern about the frothy housing market,
whatever is happening with UK yields and the GBP is basically disregarding forward guidance. With regards to inflation - energy prices should stay low in the near term + with the strong pound one wouldn't expect crazy swings in import-driven cost-push inflation.

IMHO it would be possible for the BoE to cool off the property market without resorting to interest rate instruments... RBNZ has managed to take some heat off with their LTV limiting measures.

Where is the impetus for an early rate hike? I don't see wages growing, there isn't a proper boost in consumption fueled by solid fundamental economic growth. There are no signs of CAPEX revival in the UK as well.

That said my plan would still be to stay long the GBP keeping in mind that we are drifting further away from fundamentals.
  • #355,027
  • Nov 30, 2013 10:58am Nov 30, 2013 10:58am
Quoting DailyChart
{quote} do no need care so much...maybe you just stay focus on how market work...
It would be easier to do that if you cared to use less yellow markers.
Hear the music before the song is over ...
  • #355,028
  • Nov 30, 2013 1:46pm Nov 30, 2013 1:46pm
Quoting GlobalMacro
{quote} It would be easier to do that if you cared to use less yellow markers.
If u dont like it,I wont use it - Problem solve
  • #355,029
  • Nov 30, 2013 6:32pm Nov 30, 2013 6:32pm
Quote
The Monthly candle closes as a hammer with a bullish body and engulfs the previous bearish candle on this t/f and is the 4th consecutive bullish candle.

I'm confused by this sentence. How is it the fourth consecutive bullish candle and also engulfing on the previous bearish candle?


One off topic question that I hope isn't out of bounds. I had a bunch of charts in MT4 set up just the way I liked and they all seem to have vanished.

Anyone have an idea what happened?
  • #355,030
  • Nov 30, 2013 10:40pm Nov 30, 2013 10:40pm
Quoting DailyChart
{quote} If you are looking for a short Then keep watching USDYen
Do you mean you are going to short usdjpy?
  • #355,031
  • Dec 1, 2013 2:51am Dec 1, 2013 2:51am
Quoting Baggi
{quote}... I had a bunch of charts in MT4 set up just the way I liked and they all seem to have vanished. Anyone have an idea what happened?
Click on the file menu and select "open deleted". The charts may be in that list.
Those who say it cannot be done should not interrupt those who are doing it
  • #355,032
  • Dec 1, 2013 2:51pm Dec 1, 2013 2:51pm
Quoting PipTrapper
{quote} Click on the file menu and select "open deleted". The charts may be in that list.

Thanks, I tried that but nothing there.
  • #355,033
  • Dec 1, 2013 2:58pm Dec 1, 2013 2:58pm
Quoting Baggi
{quote} Thanks, I tried that but nothing there.
They might be minimized then. Click on the Window menu and see if your charts are in the list.

Another thing you should check is "Profiles" under the File menu. Load the "Default" profile and see it that restores them, but before you do that, save your current profile as something else so you don't lose it.
Those who say it cannot be done should not interrupt those who are doing it
  • #355,034
  • Dec 1, 2013 4:09pm Dec 1, 2013 4:09pm
Quoting PipTrapper
{quote} They might be minimized then. Click on the Window menu and see if your charts are in the list. Another thing you should check is "Profiles" under the File menu. Load the "Default" profile and see it that restores them, but before you do that, save your current profile as something else so you don't lose it.
Thanks!

It was under default.
  • #355,035
  • Dec 1, 2013 4:09pm Dec 1, 2013 4:09pm
Quoting Baggi
{quote} Thanks! It was under default.
Those who say it cannot be done should not interrupt those who are doing it
  • #355,036
  • Dec 1, 2013 6:39pm Dec 1, 2013 6:39pm
Poor navin about to get stopped out ... 1.6470-1.6550 area 100% confirmed
Loser trying to become a winner!
  • #355,037
  • Dec 1, 2013 6:42pm Dec 1, 2013 6:42pm
GU M15

cable busting open a can of woop ass
Attached Image (click to enlarge)
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  • #355,038
  • Dec 1, 2013 6:44pm Dec 1, 2013 6:44pm
now 50 pip 1min candles. desperation for longs or short covering. any chance of correction may be at 1.67 or 1.70 long term resistance.
  • #355,039
  • Dec 1, 2013 6:56pm Dec 1, 2013 6:56pm
1.70? I just shorted 30 pips adding to loser position

They play with our panic. No GBP news related. It was a stop hunting all over the place. Made my day without even started, oh yeah, sometimes is great to be infront of the screens!
Best time to plant a tree was 20 years ago, second best is now
  • #355,040
  • Dec 1, 2013 7:00pm Dec 1, 2013 7:00pm
something dosent feel right about that hour candle if this is a breakout are we going to see what we saw last yr about this time
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