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Cable Update (GBPUSD)

  • #356,721
  • Dec 26, 2013 10:18am Dec 26, 2013 10:18am
Quoting ozgurerisir
{quote} Fundamentally, looks like any positive US data that comes out lately doesn't upset the bulls. The sentiment of the market is upwards for some time now.
Personally I placed small short at 1.6430, gonna see how it goes.
  • #356,722
  • Dec 26, 2013 11:23am Dec 26, 2013 11:23am
Quoting RavBRD
{quote} Personally I placed small short at 1.6430, gonna see how it goes.
How far down do you think this is going to ? Are you considering it from the ADR or just from your analysis and where is your TP, if you dont mind me asking
  • #356,723
  • Dec 26, 2013 2:29pm Dec 26, 2013 2:29pm
The further down it goes, the larger the position I will take when it gets there. I am patient. I have time.
As long as the retail crowd keeps selling the rallies, I'll be looking to buy when the time is right.

Attached Image (click to enlarge)
Click to Enlarge Name: download (2).png Size: 214 KB
Those who say it cannot be done should not interrupt those who are doing it
  • #356,724
  • Dec 26, 2013 3:13pm Dec 26, 2013 3:13pm
Is there a 10-15 pip gap on everyone's charts, or is that just mine?
  • #356,725
  • Dec 26, 2013 3:22pm Dec 26, 2013 3:22pm
Quoting Baggi
Is there a 10-15 pip gap on everyone's charts, or is that just mine?
No, it's not just yours, it happened tonight.
Shift happens...
  • #356,726
  • Dec 26, 2013 4:47pm Dec 26, 2013 4:47pm
I think it will continue rally until NFP - coming 10th Jan.
Doesn't GU usually falls after NFP data is released and falls for like 3 to 5 days until it corrects itself?
Anyone agreeing with this notion?....?
  • #356,727
  • Dec 26, 2013 5:06pm Dec 26, 2013 5:06pm
Quoting Ill-b-back
{quote} Lol.. they're just playing mind games, tempting everyone to go short.
And with FF GBPUSD short traders now sitting at 72 percent, they are going their job well.
Come with me if you want to live....
  • #356,728
  • Dec 26, 2013 5:21pm Dec 26, 2013 5:21pm
Quoting Ill-b-back
{quote} And with FF GBPUSD short traders now sitting at 72 percent, they are going their job well.
Yep. They are all flattered flies

Inserted Video
Those who say it cannot be done should not interrupt those who are doing it
  • #356,729
  • Dec 26, 2013 5:59pm Dec 26, 2013 5:59pm
Sometimes... looking at the bigger picture clears up alot of confusion.

GBP started confirming an uptrend once it showed momentum above 1.57 in Mid September this year... this momentum continues... it was then quickly followed by a 2 month consolidation between 1.62 - 1.59, in which previous times gbp had trouble getting through. After a 2 month digestion... gbp finally broke to the upside and closed above 1.63, (notice the duration of the digestion) giving an indication of further continuation. Now approaching years end, we are dealt with the same dilemma which is a consolidation pattern in the making.... which probability favors another leg up.

Next major level of resistance - 1.66 - 1.67.

I hope we can all agree that there are still room to go on the upside technically... and thus far... The only reasonable technical short to trade against would be the possibility of a breakout failure post FOMC... however we can clearly see that was also met with a round of buyers bidding higher. So at this moment... if I were short, with a stop in mind, the longer gbp holds above 1.64.. the more frustrated I will get... more so if it leaks below then pulls back and holds...

On the weekly, confirmation of a break below 1.61 may lead to signs to the downside. Until then, it's probably wise to stick w/ the trend.

GBP isn't the momentum goto pick as JPY clearly wins in that category...

So knowing what I know, and what everyone knows.... the very basics

Gun to head.... I want to be long.
  • #356,730
  • Dec 26, 2013 6:18pm Dec 26, 2013 6:18pm
Quoting PipTrapper
{quote} Yep. They are all flattered flies http://www.youtube.com/watch?v=-EJDP6va9uc
Wait!...What is that buzzing sound I hear behind me?



  • #356,731
  • Dec 26, 2013 6:41pm Dec 26, 2013 6:41pm
Really wonder how high cable is going to go, it definitely doesn't seem like it's topped out, relentlessly goes higher every time...
  • #356,732
  • Dec 26, 2013 6:53pm Dec 26, 2013 6:53pm
Quoting Orientxpress
Sometimes... looking at the bigger picture clears up alot of confusion. GBP started confirming an uptrend once it showed momentum above 1.57 in Mid September this year... this momentum continues... it was then quickly followed by a 2 month consolidation between 1.62 - 1.59, in which previous times gbp had trouble getting through. After a 2 month digestion... gbp finally broke to the upside and closed above 1.63, (notice the duration of the digestion) giving an indication of further continuation. Now approaching years end, we are dealt with the same...
I hope GJ goes to ~180 and even more ~194 until next summer or next quarter... BOJ is with me
Anything is math!
  • #356,733
  • Dec 26, 2013 7:10pm Dec 26, 2013 7:10pm
GU is still in range of Banks : 1.637 - 1.645
Lets see
  • #356,734
  • Dec 26, 2013 8:16pm Dec 26, 2013 8:16pm
Quoting Ck87
Really wonder how high cable is going to go, it definitely doesn't seem like it's topped out, relentlessly goes higher every time...


Conspiracy against shorts...
The Market pays you to be disciplined
  • #356,735
  • Dec 26, 2013 9:13pm Dec 26, 2013 9:13pm
Quoting mima
{quote} Conspiracy against shorts...
made in japan with love.
  • #356,736
  • Dec 26, 2013 10:00pm Dec 26, 2013 10:00pm
Quoting PipTrapper
{quote} Yep. They are all flattered flies http://www.youtube.com/watch?v=-EJDP6va9uc
I think the Spiders trap has sprung...
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdweekly.png Size: 29 KB
Come with me if you want to live....
  • #356,737
  • Dec 26, 2013 11:00pm Dec 26, 2013 11:00pm
Quoting Ill-b-back
{quote} I think the Spiders trap has sprung... {image}
A bull trap or a bear trap?
  • #356,738
  • Dec 26, 2013 11:20pm Dec 26, 2013 11:20pm
Quoting Baggi
{quote} A bull trap or a bear trap?
Bear
Come with me if you want to live....
  • #356,739
  • Dec 27, 2013 1:06am Dec 27, 2013 1:06am
Wow this GU really is such total garbage, I'm so dumb for shorting GJ what a fucking nightmare
  • #356,740
  • Dec 27, 2013 1:35am Dec 27, 2013 1:35am
Quoting Ill-b-back
{quote} Bear

I've noticed it's not uncommon to get a strong upsurge like this around this time of the night in the USofA.

However, when London opens, there is generally quite a bit of selling. I'll be up late tonight, so i'll be interested to see what happens after London open.
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