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Cable Update (GBPUSD)

  • #357,101
  • Jan 2, 2014 1:06am Jan 2, 2014 1:06am
Quoting Baggi
{quote} He said they won't start until Monday. Might not want to jump the gun here.
will take the risk, last week got pounded very hard longing gold, the problem was wrong stop losses, look where is now,
who would have expected to 1226 and going up, i have been shorting pound since 1.6400 with little lots, now at these levels going
nuclear tp 1.6300 in few weeks, tight sls in upper fibo levels.
  • #357,102
  • Jan 2, 2014 1:10am Jan 2, 2014 1:10am
I wonder if everyone here saw veers post and started shorting the gbpusd?

Har!
  • #357,103
  • Jan 2, 2014 1:14am Jan 2, 2014 1:14am
Quoting Baggi
I wonder if everyone here saw veers post and started shorting the gbpusd? Har!
  • #357,104
  • Jan 2, 2014 1:14am Jan 2, 2014 1:14am
A pullback should be a good chance to MÚC (take a Long side). Do you think so?
Trade your plan.
  • #357,105
  • Jan 2, 2014 1:15am Jan 2, 2014 1:15am
Quoting Jackana
A pullback should be a good chance to MÚC (take a Long side). Do you think so?

Absolutely. The question is, when do you go long?

Piptrapper seems to have a good idea, but I'm not sure what the number is.
  • #357,106
  • Jan 2, 2014 1:29am Jan 2, 2014 1:29am
Quoting Baggi
{quote} Absolutely. The question is, when do you go long? Piptrapper seems to have a good idea, but I'm not sure what the number is.
As the Weekly chart I have showed us. The break out has been tested successfully, so uptrend now started to contiunue. Buy on dip now is great.
Trade your plan.
  • #357,107
  • Jan 2, 2014 1:33am Jan 2, 2014 1:33am
first of all: happy new year @all! i´m back from holiday and waiting for the manufacturing pmi in order to receive a signal.
fortis fortuna adiuvat
  • #357,108
  • Jan 2, 2014 1:46am Jan 2, 2014 1:46am
Quoting veer2010
I said in the past and hopefully people made 100-150 pips profit. Now, saying it again, London desk is going to sell cable heavy starting from Monday.. They are looking at 1.61 level..
1.61 level is not selling "heavy". If you say to the 1.58 range or lower, now THAT is "heavy" selling as it surpasses the 38.2 fib level, which is a continuation fib level. Let's see what unfolds.
  • #357,109
  • Jan 2, 2014 1:49am Jan 2, 2014 1:49am
Quoting FxMaximus
{quote} 1.61 level is not selling "heavy". If you say to the 1.58 range or lower, now THAT is "heavy" selling as it surpasses the 38.2 fib level, which is a continuation fib level. Let's see what unfolds.

Selling heavy may not be a reference to distance traveled but to time. If they went to 1.61 in a week, that would be selling heavy, for example.
  • #357,110
  • Jan 2, 2014 1:51am Jan 2, 2014 1:51am
Quoting veer2010
I said in the past and hopefully people made 100-150 pips profit. Now, saying it again, London desk is going to sell cable heavy starting from Monday.. They are looking at 1.61 level..

...may fit nicely into Cable pushing for the 76.4 FE at 1.69, the Dollar suffering a little drop onto the ascending Guppy profile at around the 100.00 FE/1062 level, and EG - my current short - striking the 61.8 FE mark at 0.8250-ish
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: usdollardaily.png Size: 59 KB
Click to Enlarge Name: eurgbpdaily.png Size: 79 KB
Author of: For Pip's Sake! (Available at Amazon... :-) )
  • #357,111
  • Jan 2, 2014 1:54am Jan 2, 2014 1:54am
Quoting Baggi
{quote} Selling heavy may not be a reference to distance traveled but to time. If they went to 1.61 in a week, that would be selling heavy, for example.

Ah, but for those familiar with the Cable.... this could happen much much faster than a week.
  • #357,112
  • Jan 2, 2014 2:01am Jan 2, 2014 2:01am
Good day to you all,

Back from my river trip. Wishing you all a wonderful 2014.

All the best!
  • #357,113
  • Jan 2, 2014 2:06am Jan 2, 2014 2:06am
Quoting Baggi
{quote} Selling heavy may not be a reference to distance traveled but to time. If they went to 1.61 in a week, that would be selling heavy, for example.
I think it's fair to say that no trading desk can single handedly move cable 500 points (or even 100 or less for that matter) at will, so they are looking at 1.61 as a possible target I suppose. Now if they have to execute a large sell order for a client, what might happen is that flow begets flow and that might attract more orderflow to the downside from other participants either taking profit or initiating fresh sell orders. After such a strong bull run in cable and crosses over the past weeks that seems like a very realistic possibility
  • #357,114
  • Jan 2, 2014 2:12am Jan 2, 2014 2:12am
Quoting TauTrader
Good day to you all, Back from my river trip. Wishing you all a wonderful 2014. All the best!
Hello Mr Tau Trader. Let's pull some pips down.
  • #357,115
  • Jan 2, 2014 2:21am Jan 2, 2014 2:21am
morning 1.6540 is a dip for me then 1.6450 another with a stop 1.6400 this will take us below 200sma on the 1hr if your playing it safe take any profits and wait to see what happens around the levels below 1.6500
  • #357,116
  • Jan 2, 2014 2:33am Jan 2, 2014 2:33am
Quoting FxMaximus
{quote} Hello Mr Tau Trader. Let's pull some pips down.
Sir,

Yes - let's make it a profitable year. Starting with a little short scalp on the 1hr for a few - just to get the trading blood flowing - entered @ 1.6572. Indicator based.

Regards
  • #357,117
  • Jan 2, 2014 2:34am Jan 2, 2014 2:34am
its all a bull trap. Becareful and dont get caught on the short. Now let us see the retest of 1.6603 after the break to 1.6708. See how the bears would drown after their new year beer.
Keep the Lights on then you can catch the rise from the dark.
  • #357,118
  • Jan 2, 2014 3:22am Jan 2, 2014 3:22am
Quoting TauTrader
{quote} Sir, Yes - let's make it a profitable year. Starting with a little short scalp on the 1hr for a few - just to get the trading blood flowing - entered @ 1.6572. Indicator based. Regards
Good day,

Closed shorts for a few pips. Now 15 min long scalp on EU.
Attached Image (click to enlarge)
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  • #357,119
  • Jan 2, 2014 3:31am Jan 2, 2014 3:31am
watching some short
Dont Giveup If You Lose.. Try To Learn From Your Fault. U will Sucess!!
  • #357,120
  • Jan 2, 2014 3:37am Jan 2, 2014 3:37am
every time I see 1.6600 I just sell sell sell and it always works
now let's enjoy the free-fall lol
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