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Cable Update (GBPUSD)

  • #358,941
  • Jan 16, 2014 4:01pm Jan 16, 2014 4:01pm
doji I guess ,don't think is look bullish enough to halt overall current move ,especially after fail before

in consolidation zone ,couldn't say bullish ,sideways ,break monthly pivot ,=freefall
Attached Image (click to enlarge)
Click to Enlarge Name: gbp usd d1 16 USD Spot.png Size: 39 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #358,942
  • Jan 16, 2014 4:11pm Jan 16, 2014 4:11pm
short caution if close over low ,not buy as such
Attached Image (click to enlarge)
Click to Enlarge Name: aud usd USD d1 16 Spot.png Size: 31 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #358,943
  • Jan 16, 2014 5:01pm Jan 16, 2014 5:01pm
I placed bunch of limit shorts at 64 and up and love to see a spike filled.
We could see another attempt at 64 before this train turns south for good.Fundamentally UK miracle over hyped economy is on shaky grounds.Recent numbers were not that good same for Euro.Love to see 37 and higher again to short with vengeance.
In trading, you have to be defensive and aggressive at the same time
  • #358,944
  • Jan 16, 2014 6:02pm Jan 16, 2014 6:02pm
Quoting Davit
I placed bunch of limit shorts at 64 and up and love to see a spike filled. We could see another attempt at 64 before this train turns south for good.Fundamentally UK miracle over hyped economy is on shaky grounds.Recent numbers were not that good same for Euro.Love to see 37 and higher again to short with vengeance.
Hi David, thank you for an adivce. I closed long and still holding short on GBPJPY - still valid or shall i start to long this thing?
  • #358,945
  • Jan 16, 2014 6:09pm Jan 16, 2014 6:09pm
Quoting mario83
{quote} Hi David, thank you for an adivce. I closed long and still holding short on GBPJPY - still valid or shall i start to long this thing?

Mario GJ can go 200+pip in 1 day easy. I would get out at break even or lowest price you can get. I am assuming you are still short at 685.
Look for other pairs and relax.Let the trades come to you.Don't force things.
Regards
In trading, you have to be defensive and aggressive at the same time
  • #358,946
  • Jan 16, 2014 6:20pm Jan 16, 2014 6:20pm
Quoting Davit
{quote} Mario GJ can go 200+pip in 1 day easy. I would get out at break even or lowest price you can get. I am assuming you are still short at 685. Look for other pairs and relax.Let the trades come to you.Don't force things. Regards
Ok, im out -56 ouch maybe i could wait but maybe you're right - not worth it. Not touching GBPJPY until i learn it.

Thanks Davit and have a good night.
  • #358,947
  • Jan 16, 2014 6:32pm Jan 16, 2014 6:32pm
Quoting mario83
{quote} Ok, im out -56 ouch maybe i could wait but maybe you're right - not worth it. Not touching GBPJPY until i learn it. Thanks Davit and have a good night.

Could of been lot worse.Taking a loss is part of trading and if price goes your way don't regret because that will teach you a bad habit and next time could kill your account.
Just move on.Most of us here lost thousands including me.
Regards
In trading, you have to be defensive and aggressive at the same time
  • #358,948
  • Jan 16, 2014 7:05pm Jan 16, 2014 7:05pm
This is what I'm watching right now in the short term.

Attached Image (click to enlarge)
Click to Enlarge Name: Cable.JPG Size: 214 KB


I took a position earlier at 6354 before I did my due diligence and drew out my charts (Don't trade right after waking up).

I'll sell for a loss if we but out of the bottom and hold below.
  • #358,949
  • Jan 16, 2014 7:42pm Jan 16, 2014 7:42pm
Something is there at 1.6320 lol
  • #358,950
  • Jan 16, 2014 7:59pm Jan 16, 2014 7:59pm
Quoting Ken A
Something is there at 1.6320 lol
Your buy stop? Lol
"HEY! Whats all this chocolate on yo face?" - "It's doodoo, babby!"
  • #358,951
  • Jan 16, 2014 7:59pm Jan 16, 2014 7:59pm
Not sure why we are breaking down now, so early, during the asian session. I'm not seeing any news....

I averaged down to 16344
  • #358,952
  • Jan 16, 2014 8:02pm Jan 16, 2014 8:02pm
Quoting Baggi
Not sure why we are breaking down now, so early, during the asian session. I'm not seeing any news.... I averaged down to 16344
asians buying the yen imo
"HEY! Whats all this chocolate on yo face?" - "It's doodoo, babby!"
  • #358,953
  • Jan 16, 2014 8:16pm Jan 16, 2014 8:16pm
Quoting Ken A
{quote} LOL didn't touch G/U yet Scalping short to prevent from falling asleep {image}
Good luck. I'm finished for now. I got eu shorts and uj and gj longs. I'm on phone otherwise I'd post something
"HEY! Whats all this chocolate on yo face?" - "It's doodoo, babby!"
  • #358,954
  • Jan 16, 2014 8:17pm Jan 16, 2014 8:17pm
Anyone notice this bearish MACD divergence on daily time frame?
Attached Image (click to enlarge)
Click to Enlarge Name: bearish divergence.png Size: 34 KB
To become a better trader, think discipline.
  • #358,955
  • Jan 16, 2014 11:03pm Jan 16, 2014 11:03pm
I hear people talking a lot about their account percentage. For example, someone might say they are only risking 2% of their account.

Or they may note they made a 5% profit from their account.

My account has an odd split to it. I have my funds that I trade Forex and then I have funds in a sort of stock trading/checking account. Funds that I can access directly. When I make or lose money in Forex, the percentage reported by the institution I invest with isn't from my Forex account, it's from the other account.

So, for example, suppose I have $5,000 in my Forex account and I make $100.00. That's 2%, right? But if I have $1000.00 in my stock trading/checking account, it looks like I made 10%.

Does anyone else have this same problem? Is this normal?
  • #358,956
  • Jan 16, 2014 11:43pm Jan 16, 2014 11:43pm
Howzit GU

GU 1H formation, specific strategy triangle, look for sustained trading below 1.632, target 1.6267x pattern fails 1.63808 I would exit 1.635 ish

Attached Image (click to enlarge)
Click to Enlarge Name: GU 1H.png Size: 15 KB


G/L
  • #358,957
  • Jan 16, 2014 11:51pm Jan 16, 2014 11:51pm
Quoting JimmyC
Howzit GU GU 1H formation, specific strategy triangle, look for sustained trading below 1.632, target 1.6267x pattern fails 1.63808 I would exit 1.635 ish {image} G/L

I think this is one of those times where fundies will come into play. We're kinda stuck in an area of equal bull and bear and news will push us through this zone one way or another.
  • #358,958
  • Jan 16, 2014 11:57pm Jan 16, 2014 11:57pm
Quoting Baggi
Not sure why we are breaking down now, so early, during the asian session. I'm not seeing any news.... I averaged down to 16344
Thats because its a very high probability legitimate bearish breakout this morning
  • #358,959
  • Jan 17, 2014 12:02am Jan 17, 2014 12:02am
Moreover there are more legitimate breakouts on the Gbp/Aud ,Gbp/CHF and Eur/Aud respectively which hasnt happened for maybe a week and half. So there will be plenty of opportunity to make break out pips this morning . Just remember to confirm before entry and remember this are all probabilities nothing is certain for sure here.
  • #358,960
  • Jan 17, 2014 12:11am Jan 17, 2014 12:11am
Gidday Traders

My plan is to make GBP/US my main chart,

trying work my way out of the YEN pairs.

Change of plan this year.

Two charts open EUR/US is my indicator chart

big boy farts,little guy jumps.

My day job is taking up to much time,

with GBP/US suits NZ time zone,markets busy before 7 to 9 pm opening etc:nerd:
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