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Cable Update (GBPUSD)

  • #355,161
  • Dec 3, 2013 8:40pm Dec 3, 2013 8:40pm
Quoting acidguy
{quote} while bulls are thinking about this pair beers eating corn + drinking coke enjoying how fails making new highs, shorting + scalping got us busy, long term shorts already placed.

I'm long at the moment, but I must admit, short does seem like a good trade at the moment.

Whenever we're up, I think, "Long!" and whenever we're heading down I think, "Short!"

I'm sure I'm the only one.
  • #355,162
  • Dec 3, 2013 11:42pm Dec 3, 2013 11:42pm
October’s Services PMI printed at a 16-year high of 62.5 and tomorrow’s figure is forecast to come in slightly weaker at 62.0. However, with the Confederation of British Industry (CBI) reporting last week that Service Sector firms are currently hiring at the fastest pace since November 2007, it is possible/probable that the PMI report could print at a fresh multi-decade high. Sterling would likely appreciate against its rivals under this scenario.



One more set of stops for the good times?
  • #355,163
  • Dec 3, 2013 11:45pm Dec 3, 2013 11:45pm
Looks like price wants 1.65, but has been range bound for so long. I remember shorting down around 1.5 thinking it was going to breakdown and now I'm thinking it could breakout.

The real reason I'm looking at G/U is because I'm not sure if I want to focus on buying G/J or U/J.
Twitter: @zusch_ -- Preselecting trending pairs, stocks on a weekly basis.
  • #355,164
  • Dec 4, 2013 12:05am Dec 4, 2013 12:05am
Quoting ktoTam
Hello, im new in forex. I go long. Do you think its going back 1.648? or better should i close my order and go short? sry for stupid quest. maybe. i hate this pair

Previet
Demo trade until you feel comfortable.Asking others for opinions or help making decisions for you is a huge NO in trading.
Considering 95% of traders lose money it could be the case of blind asking another blind.
Trading is war plain and simple.Start growing balls.
In trading, you have to be defensive and aggressive at the same time
  • #355,165
  • Dec 4, 2013 12:07am Dec 4, 2013 12:07am
What I got going
EU short 36 3550
GU Short 64 6350
EC Short 1.44
UC short 640
Well I guess I just have to accept I am a Bear full in and out.

Important news on Cad weds 8.30 10am EST
In trading, you have to be defensive and aggressive at the same time
  • #355,166
  • Dec 4, 2013 12:16am Dec 4, 2013 12:16am
Quoting iNSIELD
October’s Services PMI printed at a 16-year high of 62.5 and tomorrow’s figure is forecast to come in slightly weaker at 62.0. However, with the Confederation of British Industry (CBI) reporting last week that Service Sector firms are currently hiring at the fastest pace since November 2007, it is possible/probable that the PMI report could print at a fresh multi-decade high. Sterling would likely appreciate against its rivals under this scenario. One more set of stops for the good times?

Considering 2 positive news on Sterling 2 days in a row and it didn't break 64 means bulls are saturated.When everyone is long there might be nobody left to buy which means price dives down.
To me Price action is signaling Bear coming up all the way to 60
In trading, you have to be defensive and aggressive at the same time
  • #355,167
  • Dec 4, 2013 12:20am Dec 4, 2013 12:20am
Quoting tedsung
today sell GBPUSD now (1.6386) sure 100% profit Tp1= 1.6325, there shown bearish signal on M15,M30,H1

That didn't seem to pan out.

What does "sure 100% profit" mean?

I know the English language and what it normally means, but I don't understand how I'm supposed to interpret that from a complete stranger, other than to think it's just bluster.
  • #355,168
  • Dec 4, 2013 12:21am Dec 4, 2013 12:21am
Quoting Davit
{quote} Considering 2 positive news on Sterling 2 days in a row and it didn't break 64 means bulls are saturated.When everyone is long there might be nobody left to buy which means price dives down. To me Price action is signaling Bear coming up all the way to 60
u shorting all the way to 1.6660?
  • #355,169
  • Dec 4, 2013 12:22am Dec 4, 2013 12:22am
I agree with u I do think the market is saturated but talk of BIG stops at 1.645
  • #355,170
  • Dec 4, 2013 12:28am Dec 4, 2013 12:28am
Quoting iNSIELD
I agree with u I do think the market is saturated but talk of BIG stops at 1.645

I won't add more shorts unless I see it necessary.We had no real correction yet and price never goes streight up.
Probability seeing 1.60 to me is greater then 166.
Regards
In trading, you have to be defensive and aggressive at the same time
  • #355,171
  • Dec 4, 2013 12:29am Dec 4, 2013 12:29am
Quoting Davit
{quote} Considering 2 positive news on Sterling 2 days in a row and it didn't break 64 means bulls are saturated.When everyone is long there might be nobody left to buy which means price dives down. To me Price action is signaling Bear coming up all the way to 60

It's true we didn't break 64, at least for long, we also haven't made any lower lows yet since being up in this area. Nor have we broken out of the uptrend designated by the standard deviation channel.

I was disappointed to wake up this morning to see we had gone up strong, to only come back down again. Almost sold my position but decided against it.

I'll give it one more try tonight to see if we can break upwards.
  • #355,172
  • Dec 4, 2013 2:18am Dec 4, 2013 2:18am
Good day everyone,

Here's how I see the long-term cable price condition as of early December on the monthlies:

Long-term Triangle on the monthly chart extending back to 2008 was broken last month with bullish price follow-through in the first couple of days in December re-inforcing the breakout.

Also notice bullish price divergence mid-year has now been confirmed as well.

Barring any significant changes in the technical picture bulls seem to be well supported going forward.

I'm favoring accumulating longs here @ 1.6372 .

Trade well!
GM
Attached Image (click to enlarge)
Click to Enlarge Name: CableMonthly.png Size: 12 KB
Hear the music before the song is over ...
  • #355,173
  • Dec 4, 2013 2:18am Dec 4, 2013 2:18am
Today's S/R levels on MT4 Templates

EURO
CABLE
AUDUSD

http://www.forexfactory.com/showthre...59#post7133359
FX is a Bitc*h!, No one keeps me wake all night but FX does!!
  • #355,174
  • Dec 4, 2013 2:35am Dec 4, 2013 2:35am
notwithstanding pip's warning about making assumptions, which is a good one./...that is generally the pattern yes, ie if the other 2 are good or bad the services follows suit...but - we'll wait and see - we shouldn't assume that on this occasion the pattern will repeat - but I think there is a higher chance than not that it will.

Best Wishes.

Quoting iNSIELD
{quote} Hey Pete how much do the other PMI's effect the services PMI? Can we assume since we have good reading from two of the PMIs that we will have a good reading from the 3rd or am i incorrect?
it's all gone a bit........
  • #355,175
  • Dec 4, 2013 3:29am Dec 4, 2013 3:29am
Quoting petetong
notwithstanding pip's warning about making assumptions, which is a good one./...that is generally the pattern yes, ie if the other 2 are good or bad the services follows suit...but - we'll wait and see - we shouldn't assume that on this occasion the pattern will repeat - but I think there is a higher chance than not that it will. Best Wishes. {quote}
And there we have it.
I agree that normally they follow each other, but obviously this time has proven that assumptions can get one in trouble.
Those who say it cannot be done should not interrupt those who are doing it
  • #355,176
  • Dec 4, 2013 3:30am Dec 4, 2013 3:30am
dun dun dunnnnnnnnnnnnnnnnnnnnnnnn


a bad number from the UK??? *FREAKS OUT*
Twitter: @TrendersGame
  • #355,177
  • Dec 4, 2013 3:32am Dec 4, 2013 3:32am
this was all foreseen on sunday, thanks zee cable
  • #355,178
  • Dec 4, 2013 3:39am Dec 4, 2013 3:39am
If 1.6323 hold then next may be a new high.

Attached Image (click to enlarge)
Click to Enlarge Name: GU 1.png Size: 40 KB
Never test the depth of water with both feet.
  • #355,179
  • Dec 4, 2013 3:44am Dec 4, 2013 3:44am
patient - Cable has not develop any sell signal yet
  • #355,180
  • Dec 4, 2013 3:46am Dec 4, 2013 3:46am
Quoting DailyChart
patient - Cable has not develop any sell signal yet
Anyone - Coffee ? ☕
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