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Cable Update (GBPUSD)

  • #358,961
  • Jan 17, 2014 12:24am Jan 17, 2014 12:24am
Quoting eliteincome
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:
yeah men those yen pairs are very open to different directional swings due to the fact that hedge funds like to hold them for the extra carry-trade income and they can buy and sell at a whim for no reason.
7 deadly pairs to trade for beginners : Gbp/Jpy , Gbp/Chf, Cad/Jpy, Aud/Jpy, Nzd/Jpy ,Nzd/Usd and Eur/Cad
  • #358,962
  • Jan 17, 2014 12:48am Jan 17, 2014 12:48am
We may break down here before the news in expectation of bad British numbers.
  • #358,963
  • Jan 17, 2014 12:52am Jan 17, 2014 12:52am
Quoting Baggi
We may break down here before the news in expectation of bad British numbers.
yeah the news coming out is another issue...If you nimble enough 1 may grab some pips and move half to break even before the news comes out.
  • #358,964
  • Jan 17, 2014 1:46am Jan 17, 2014 1:46am
looks like 6315 is higly protected at this moment.
ignore wackos and psychos, including myself. But I can't add myself to iggy
  • #358,965
  • Jan 17, 2014 1:46am Jan 17, 2014 1:46am
Hit my TP on all my shorts. Hoping it goes up so that i can jump in with a fresh batch.
  • #358,966
  • Jan 17, 2014 1:48am Jan 17, 2014 1:48am
Quoting ffleo
looks like 6315 is higly protected at this moment.

I almost bought when we dropped, but got cold feet.
  • #358,967
  • Jan 17, 2014 1:50am Jan 17, 2014 1:50am
If the four hour candle closes down under 6320 I'd say we have better than even odds we push down through during the next four hour candle.
  • #358,968
  • Jan 17, 2014 1:50am Jan 17, 2014 1:50am
Quoting Baggi
{quote} I almost bought when we dropped, but got cold feet.
That was yesterdays playbook to buy, today its a little different. its still too expensive and risky even if you want to buy. barely 2 to 1 RR moreover this is friday you dont want to give back any profits you have made all week at the 11th hr so you really have to be patient and cherry pick your trade
  • #358,969
  • Jan 17, 2014 1:51am Jan 17, 2014 1:51am
Quoting Baggi
{quote} I almost bought when we dropped, but got cold feet.
Been thinking of doing this a lot for the past few days. Shorting and taking profit around the 6315 mark and then buying back up - rinse and repeat. Looking back it would have worked. Knowing my luck though i'd buy and we'd finally break through and i'd get shafted!
  • #358,970
  • Jan 17, 2014 1:53am Jan 17, 2014 1:53am
Quoting ffleo
looks like 6315 is higly protected at this moment.
yeah before i go short we need to break 1.6315 pull back 50% and then drop like a rock. That way we can take advantage of the weekly downward trend behind our back and make some immediate profits and leave some on the table for the bad GBP numbers hypothetically
  • #358,971
  • Jan 17, 2014 2:00am Jan 17, 2014 2:00am
No matter which way you slice it, things aren't looking good for the bulls.
  • #358,972
  • Jan 17, 2014 2:09am Jan 17, 2014 2:09am
looking good so far ...we just need that candle on the 15 min TF to close bullish and by 3:45am EST for the next candle to be bearish and look for a nice pretty entry. Either that or ill be sitting on my hands and waving to the bulls
  • #358,973
  • Jan 17, 2014 2:20am Jan 17, 2014 2:20am
sell order @ 1.6307 Sl 1.6337 adjusted position size.TP till further notice, good luck guys . I get filled in good . It goes up for the bulls good luck as well
  • #358,974
  • Jan 17, 2014 2:27am Jan 17, 2014 2:27am
Quoting IveGotQuads
looking good so far ...we just need that candle on the 15 min TF to close bullish and by 3:45am EST for the next candle to be bearish and look for a nice pretty entry. Either that or ill be sitting on my hands and waving to the bulls
morning , you did well with your short from yesterday still got my long, if you remember i posted a bank bought 1.6505 their sl was 1.6305 so with that i put mine in 1.6299 target 1,640 stops up now and will manage till short
  • #358,975
  • Jan 17, 2014 2:28am Jan 17, 2014 2:28am
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

Well an hour to the news, the pattern is technically no longer valid... but the strat may still work or it'll just keep bouncing between 1.638 and 1.630
  • #358,976
  • Jan 17, 2014 2:29am Jan 17, 2014 2:29am
Hello thread readers

A bounce at the 38.2% of 6217-6603 move at the present low of today....looking bearish though so far...will see what Uk Retail sales data does soon.

Best Wishes.
it's all gone a bit........
  • #358,977
  • Jan 17, 2014 2:32am Jan 17, 2014 2:32am
Quoting elbert3
{quote} morning , you did well with your short from yesterday still got my long, if you remember i posted a bank bought 1.6505 their sl was 1.6305 so with that i put mine in 1.6299 target 1,640 stops up now and will manage till short
yeah both long from the initial stop run in the opening and short from the highs...and yes the news may make this set up invalid but If I would make this trade without the news AND by chance the trade i would take happened to fall into the sentiment of the potential news then both fundamental and technicals plus sentiments align here. We are dealing with odds here , no certainty. Im comfortable with this
  • #358,978
  • Jan 17, 2014 2:40am Jan 17, 2014 2:40am
I don't know if there is any correlation here but the EUR retail sales came out last week and they beat expectations by quite a lot. I think it was .2 was expected and the actual number was 1.2 or 1.4, something like that.

If there is a correlation, and GBP is expecting .5, if they get a similar number to the EUR, that will be 1.2 or 1.4 vs expectations of .5.

Again though, I have no idea if the EUR and GBP tend to do the same business during the Christmas season or if the numbers are done differently.
  • #358,979
  • Jan 17, 2014 2:47am Jan 17, 2014 2:47am
GU M15

Cable attempting it's LO bullish reversal - this time, at 2012 high
Attached Image (click to enlarge)
Click to Enlarge Name: gum15.PNG Size: 41 KB
  • #358,980
  • Jan 17, 2014 2:51am Jan 17, 2014 2:51am
it's a good point - thanks - wasn't aware of that....we'll see

There certainly seems to be some buyers at the low

Best Wishes.

Quoting Baggi
I don't know if there is any correlation here but the EUR retail sales came out last week and they beat expectations by quite a lot. I think it was .2 was expected and the actual number was 1.2 or 1.4, something like that. If there is a correlation, and GBP is expecting .5, if they get a similar number to the EUR, that will be 1.2 or 1.4 vs expectations of .5. Again though, I have no idea if the EUR and GBP tend to do the same business during the Christmas season or if the numbers are done differently.
it's all gone a bit........
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