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Cable Update (GBPUSD)

  • #358,841
  • Jan 16, 2014 3:34am Jan 16, 2014 3:34am
Quoting JimmyC
{quote} I got out with money in my hand... No need to be right, just need money... I'm closed, happy with the big mac money and the rent money from last night.... neither target was met but I bank the profit... Traders don't need to be right they need to make money, I don't mind being wrong, as long as I've got cash in my hand Even if Chazzle makes 100 pips on this trade, it doesn't really matterto me cause I did that overnight.... Good Luck to Chaz The principal guys is if you make money, you've done your job... Lose a little make a lot. Have...
yeah men good luck and stay safe. Nice one though
  • #358,842
  • Jan 16, 2014 3:42am Jan 16, 2014 3:42am
it has already pulled back over 50% of the move down from 6378-the pullback hi off yesterday's 6322 low down to today's present low 6314 at Daily S1 pivot, 38.2% 5853-6603 and at that former 4hr swing at 6314. 15min printed a hammer then 1hr. Sellers likely to be lurking somewhere on the pullback ?

Best Wishes.
it's all gone a bit........
  • #358,843
  • Jan 16, 2014 4:02am Jan 16, 2014 4:02am
Quoting Ken A
Looks like G/U being affected by GBP/AUD and still in consolidation
yes looks like i have a buy at 8808 take the pair of them up today
  • #358,844
  • Jan 16, 2014 4:03am Jan 16, 2014 4:03am
Quoting IveGotQuads
{quote} Actually its not a bad idea you just got in too late for the risk to reward to be in your favor. if you get in say at 1.6337 and TP at 1.6373 your stop loss below the hammer would be 1.6314 that makes the trade a little shy of 2 to 1 making it risky to me. BUT if you had gotten in at 1.6320 and SL at 1.6298 (22 pip sl) and TP at 1.6377 you are now working with 3 to 1 and can take half off at 40 pip profit. Not to mention the massive room away from the hammer (about 14 pips) margin/cushion for error in your favor as well. There are a lot...
Nice explanation, Quads.

If you could post a chart to put a picture on it, would help relate to it better....

Thanks.
Hear the music before the song is over ...
  • #358,845
  • Jan 16, 2014 4:04am Jan 16, 2014 4:04am
GU H4 GMT+3

I have just took a long, because pinbar rejection from support ~6317.
Invaidation if price could close under ~6317.

Good luck!
Attached Image (click to enlarge)
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Anything is math!
  • #358,846
  • Jan 16, 2014 4:14am Jan 16, 2014 4:14am
1 more long added looking for 1 more 357
  • #358,847
  • Jan 16, 2014 4:16am Jan 16, 2014 4:16am
i am on 1 min doing 6 pip stops all the way up not getting caught today
  • #358,848
  • Jan 16, 2014 4:26am Jan 16, 2014 4:26am
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need to get this higher could stop out on tight sl but it will be 2-1 win
  • #358,849
  • Jan 16, 2014 4:36am Jan 16, 2014 4:36am
Quoting chazzle
GU M15 attempting bullish reversal at LO again - 338 to go before any longs here
long the rt - sl 320
  • #358,850
  • Jan 16, 2014 4:43am Jan 16, 2014 4:43am
Quoting GlobalMacro
{quote} Nice explanation, Quads. If you could post a chart to put a picture on it, would help relate to it better.... Thanks.
Thats the set up you were asking about. Umm entry at 1.6320 and the reason for entry is just based on banks need for liquidity to buy in this spot. usually tokyo session is when the institutions scale into their position little by little so as not to send prices higher or lower. Once this is done they may need to complete their positions and need liquidity thereby going after the aggressive shorts for example what happened here. Short sellers place their shorts below the rectangle or box or whatever and the banks sell into the shorts triggering the retail shorts and the institutions turn around and buy the short sellers therfore sending the price higher which in turn triggers these short sellers stops even sending the price higher. These is why its advisable for breakout traders to confirm entries by the pull back continuation pattern or ABC or whatever you want to call it so as not to be faked. hope that explains it. This has nothing to do with fundamentals or technicals just the institutions doing what they have to do to get their volume
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  • #358,851
  • Jan 16, 2014 4:49am Jan 16, 2014 4:49am
Quoting chazzle
{quote} long the rt - sl 320

Inserted Video
  • #358,852
  • Jan 16, 2014 4:55am Jan 16, 2014 4:55am
Quoting chazzle
{quote} long the rt - sl 320
long off the pin again 1 min 6329 short stops again
  • #358,853
  • Jan 16, 2014 4:56am Jan 16, 2014 4:56am
I would like to dedicate this song to my LONG GBP/USD friends.... (all in fun)

Inserted Video
  • #358,854
  • Jan 16, 2014 5:05am Jan 16, 2014 5:05am
Quoting FxMaximus
I would like to dedicate this song to my LONG GBP/USD friends.... (all in fun) http://www.youtube.com/watch?v=PErUiAyVoGc
yeah right you hoping this drops like anchor from a ship into the ocean LOL
  • #358,855
  • Jan 16, 2014 5:05am Jan 16, 2014 5:05am
Yesterdays PPI were good so we can expect today's CPI good for USD as well. This mean GBPUSD shall head lower and trigger GEPPY low as well against JPY or it will be flat because USDJPY will also raise?

I need 50pips move on GEPPY to get out of locked transactions - could you please help?
  • #358,856
  • Jan 16, 2014 5:06am Jan 16, 2014 5:06am
Quoting FxMaximus
I would like to dedicate this song to my LONG GBP/USD friends.... (all in fun) http://www.youtube.com/watch?v=PErUiAyVoGc




  • #358,857
  • Jan 16, 2014 5:10am Jan 16, 2014 5:10am
Quoting IveGotQuads
{quote} yeah right you hoping this drops like anchor from a ship into the ocean LOL
CHAIN AND ALL...... I might add.
  • #358,858
  • Jan 16, 2014 5:11am Jan 16, 2014 5:11am
With massive Orders around 1.6350 1.6375 1.6425 for sellers
and buyers at 1.6310 1.6300 the TP projection would have to be adjusted to 40 pips (1.6360) rather than 57pips+ at 1.6372. In addition is a disclaimer as well.
  • #358,859
  • Jan 16, 2014 5:15am Jan 16, 2014 5:15am
Quoting mario83
Yesterdays PPI were good so we can expect today's CPI good for USD as well. This mean GBPUSD shall head lower and trigger GEPPY low as well against JPY or it will be flat because USDJPY will also raise? I need 50pips move on GEPPY to get out of locked transactions - could you please help?
The reverse of your scenario might happen though to clean out stops both direction
  • #358,860
  • Jan 16, 2014 5:16am Jan 16, 2014 5:16am
Quoting IveGotQuads
With massive Orders around 1.6350 1.6375 1.6425 for sellers and buyers at 1.6310 1.6300 the TP projection would have to be adjusted to 40 pips (1.6360) rather than 57pips+ at 1.6372. In addition is a disclaimer as well.
morning , you have a disclaimer toooooo. lol 3 buys again long of the 1 min ,its hard work this target 3705 the big r might be the big s if we break great,
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