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Cable Update (GBPUSD)

  • #355,081
  • Dec 2, 2013 9:41am Dec 2, 2013 9:41am
Quoting InNeedOfHelp
what is going on with Cable & Euro, positive news and it moves up. I just cant figure this out sometimes. (most the time)
Its the market makers messing with our fragile little minds.
  • #355,082
  • Dec 2, 2013 10:43am Dec 2, 2013 10:43am
Gone a bit quiet here guys!

I'm long on cable, based on the fact that although the US results were positive, the UK results are also positive and the setup on H1 and H4 look ready for a possible resumption of the very definite up-trend...

Usually as soon as I post anything here, the market swings moves completely against me and I am obliterated, so might be a good time to go short
  • #355,083
  • Dec 2, 2013 10:57am Dec 2, 2013 10:57am
Quoting samalmoore
Gone a bit quiet here guys! I'm long on cable, based on the fact that although the US results were positive, the UK results are also positive and the setup on H1 and H4 look ready for a possible resumption of the very definite up-trend... Usually as soon as I post anything here, the market swings moves completely against me and I am obliterated, so might be a good time to go short
That would be a wise decision at this point... but then it may be better to wait for a deep dip and buy it.
Those who say it cannot be done should not interrupt those who are doing it
  • #355,084
  • Dec 2, 2013 12:47pm Dec 2, 2013 12:47pm
still in the trade. where to now?
  • #355,085
  • Dec 2, 2013 12:50pm Dec 2, 2013 12:50pm
Quoting ferreira1239
still in the trade. where to now?
1.6330 is the next support. If I were short (I'm not), I would take half off there, set the rest at break even and see what happens.

ADD: I see you already have SL at 1.6380, so that's perfect. I would still take half off at 1.6330 though.
Those who say it cannot be done should not interrupt those who are doing it
  • #355,086
  • Dec 2, 2013 12:52pm Dec 2, 2013 12:52pm
Quoting PipTrapper
{quote} 1.6230 is the next support. If I were short (I'm not), I would take half off there, set the rest at break even and see what happens.
Thanks PipTrapper for the reply.I was thinking of 1.6298 as its the weekly pivot.
  • #355,087
  • Dec 2, 2013 12:53pm Dec 2, 2013 12:53pm
Quoting ferreira1239
{quote} Thanks PipTrapper for the reply.I was thinking of 1.6298 as its the weekly pivot.
I made a typo in my post. Meant to type 1.6330
Those who say it cannot be done should not interrupt those who are doing it
  • #355,088
  • Dec 2, 2013 12:54pm Dec 2, 2013 12:54pm
Quoting ferreira1239
{quote} Thanks PipTrapper for the reply.I was thinking of 1.6298 as its the weekly pivot.
I wouldn't pay much attention to the weekly pivot while trading the hourly chart
Those who say it cannot be done should not interrupt those who are doing it
  • #355,089
  • Dec 2, 2013 1:32pm Dec 2, 2013 1:32pm
Its just resting on the 4hr 23.6fib which is the 1 hr 61.8 fib so looks strong. so if it does not push through in the next hour I will close this trade and take the pips.
  • #355,090
  • Dec 2, 2013 1:34pm Dec 2, 2013 1:34pm
Daily Pin bar reversal?
$10K Live Account... 3 months investor testing!
  • #355,091
  • Dec 2, 2013 1:38pm Dec 2, 2013 1:38pm
Quoting Crazy-Trader
Daily Pin bar reversal?
Yes it looks that way if the daily closes here or lower
  • #355,092
  • Dec 2, 2013 1:44pm Dec 2, 2013 1:44pm
come on cable push through.
  • #355,093
  • Dec 2, 2013 1:46pm Dec 2, 2013 1:46pm
Quoting Crazy-Trader
Daily Pin bar reversal?
Just when I decided to long... a classic
  • #355,094
  • Dec 2, 2013 2:02pm Dec 2, 2013 2:02pm
If you prefer to ride the bull train, it is not wise to chase the train after it leaves the station. Waiting for pullbacks are a much safer way to board the train. There have been 5 multiple attempts in the past to breach 1.6260-1.6300. The breakthrough came last week. In this situation, the pullback most likely would occur at 1.6260-1.6300. Many buy orders would then now be placed at 1.6260-1.6300. We would attempt to place our long positions here, as there would be many institutional buy orders clustering here.

LONG GBPUSD 1.6260-1.6300
SL 40pips
TP final 1.7000

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD D.png Size: 128 KB
  • #355,095
  • Dec 2, 2013 2:17pm Dec 2, 2013 2:17pm
Quoting ferreira1239
Its just resting on the 4hr 23.6fib which is the 1 hr 61.8 fib so looks strong. so if it does not push through in the next hour I will close this trade and take the pips.
Daily pivot is 1.6355 on GMT charts.
It 6355 provides resistance you should be fine to hang on.

Attached Image
Those who say it cannot be done should not interrupt those who are doing it
  • #355,096
  • Edited 2:57pm Dec 2, 2013 2:25pm | Edited 2:57pm
Longer-term bulls are OK until a swing low is broken @ 1.6313 then larger support @ 1.6258.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdh4.png Size: 38 KB
  • #355,097
  • Dec 2, 2013 2:29pm Dec 2, 2013 2:29pm
Quoting srt
Longer-term bulls are OK until a swing low is broken @ 1.6213 then larger support @ 1.6258. {image}
Interesting chart template. You must have very good eyesight.
  • #355,098
  • Dec 2, 2013 2:30pm Dec 2, 2013 2:30pm
Quoting PipTrapper
{quote} Daily pivot is 1.6355 on GMT charts. It 6355 provides resistance you should be fine to hang on. {image}
Thanks, still hanging on for now.
  • #355,099
  • Dec 2, 2013 2:58pm Dec 2, 2013 2:58pm
Quoting ferreira1239
{quote} Interesting chart template. You must have very good eyesight.
I don't like wearing sunglasses for trading :-)
  • #355,100
  • Dec 2, 2013 3:03pm Dec 2, 2013 3:03pm
Quoting srt
{quote} I don't like wearing sunglasses for trading :-)
LOL. good one
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