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Cable Update (GBPUSD)

  • #359,721
  • Jan 21, 2014 2:41pm Jan 21, 2014 2:41pm
Quoting JimmyC
{quote} Kind of the point here
Quoting Ken A
{quote} Good job holding the long
Appreciate it, Guys.


This puppy now trading outside of broken down trend line.



GBP/USD - H8
Attached Image
Hear the music before the song is over ...
  • #359,722
  • Jan 21, 2014 2:50pm Jan 21, 2014 2:50pm
Quoting GlobalMacro
{quote} {quote} Appreciate it, Guys. This puppy now trading outside of broken down trend line. GBP/USD - H8 {image}
Looks interesting. specific strategy... Falling wedge breakout forecast as much as 1.663 5 days and 12 8h bars

Good night
and G/L
Attached Image (click to enlarge)
Click to Enlarge Name: GU 8H.png Size: 31 KB
  • #359,723
  • Jan 21, 2014 2:56pm Jan 21, 2014 2:56pm
Quoting GlobalMacro
{quote} {quote} Appreciate it, Guys. This puppy now trading outside of broken down trend line. GBP/USD - H8 {image}
That will speed up to my GBP/CAD target 1.8480

GBP bull + CAD bear = Hybrid Bull
  • #359,724
  • Jan 21, 2014 2:57pm Jan 21, 2014 2:57pm
Quoting JimmyC
{quote} Looks interesting. specific strategy... Falling wedge breakout forecast as much as 1.663 5 days and 12 8h bars Good night and G/L {image}
And if the bulls keep at it, we could ring in twice as much.
Have a good one, Jimmy.
Hear the music before the song is over ...
  • #359,725
  • Jan 21, 2014 3:03pm Jan 21, 2014 3:03pm
Quoting Ken A
{quote} That will speed up to my GBP/CAD target 1.8480 GBP bull + CAD bear = Hybrid Bull
That G/C pair of yours is on steroids, Ken.
I wished cable would roll like that...
Hear the music before the song is over ...
  • #359,726
  • Jan 21, 2014 4:01pm Jan 21, 2014 4:01pm
I wonder if right now would be a great time to trade this pair, if you were wealthy. After London and New York are closed, volume drops quite a bit.

Could a single rich person manipulate it enough?
  • #359,727
  • Jan 21, 2014 4:27pm Jan 21, 2014 4:27pm
Quoting Baggi
I wonder if right now would be a great time to trade this pair, if you were wealthy. After London and New York are closed, volume drops quite a bit. Could a single rich person manipulate it enough?
Maybe its not a matter of if its a great time , some people trade the tokyo period. I think its more of a question of you having YOUR own time to trade according to your plan and sticking with it
  • #359,728
  • Jan 21, 2014 4:32pm Jan 21, 2014 4:32pm
Good listen on UK economy regarding CA deficit

http://www.research.hsbc.com/midas/R...L&n=401389.HTM

hope the link works!
  • #359,729
  • Jan 21, 2014 5:18pm Jan 21, 2014 5:18pm
Quoting Baggi
I wonder if right now would be a great time to trade this pair, if you were wealthy. After London and New York are closed, volume drops quite a bit. Could a single rich person manipulate it enough?
I have heard of a person throwing in 100mill at this time and the price went against him right away so I don't know if it works in a trader favorite or not, you can shake the market by trading large sum of money but don't know if it works out in your favorite or not
  • #359,730
  • Jan 21, 2014 5:24pm Jan 21, 2014 5:24pm
Quoting Baggi
I wonder if right now would be a great time to trade this pair, if you were wealthy. After London and New York are closed, volume drops quite a bit. Could a single rich person manipulate it enough?
no.
  • #359,731
  • Jan 21, 2014 6:54pm Jan 21, 2014 6:54pm
Stopped out at 1.6490.

Darn it Jimmy, I hate it when you're right!

  • #359,732
  • Edited 7:48pm Jan 21, 2014 6:58pm | Edited 7:48pm
AUD push GBP up lol

Edit:

Looks like this is bear thread all gone quiet
  • #359,733
  • Jan 21, 2014 7:55pm Jan 21, 2014 7:55pm
Quoting Ken A
AUD push GBP up lol Edit: Looks like this is bear thread all gone quiet

It looked like a break out for a minute there.

Now maybe it's changed it's mind.

I think someone posted in this thread yesterday that 80% of breakouts are fake? I don't know how accurate that is, but if one assumes it's accurate, then all you'd have to do is counter trade a break out to make money. Too simple.
  • #359,734
  • Jan 21, 2014 9:37pm Jan 21, 2014 9:37pm
part of the rally in this pair is triggered by GBP/JPY. if that trade starts unwinding a bit GBP/USD can lose 50-60 pips very quickly
  • #359,735
  • Jan 21, 2014 9:54pm Jan 21, 2014 9:54pm
Quoting giveachance
part of the rally in this pair is triggered by GBP/JPY. if that trade starts unwinding a bit GBP/USD can lose 50-60 pips very quickly
I was moreso viewing it in the opposite. For example, a couple of weeks back when Pound fell over 100 pips within an hour, Geppy fell nearly 200+. This even as USD/JPY maintained its level.
Enter Signature
  • #359,736
  • Jan 21, 2014 11:15pm Jan 21, 2014 11:15pm
Why do posts keep vanishing from this forum?
  • #359,737
  • Jan 22, 2014 12:14am Jan 22, 2014 12:14am
Well, there is a nasty trend line for the nasty cable on the hourly chart as shown below.
The pair is struggling to take this out.
The employment report is on the cards for the pair.
If the employment numbers register gains, then the pair might blast through this trend line and trade higher.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD.png Size: 70 KB


There are chances that the pair might break this in advance ahead of the report.
If that is the case, then I may jump into a buy trade with a stop below this trend line.
This is just my view.
What's your take guys?

Ajpipsmaker
  • #359,738
  • Jan 22, 2014 12:21am Jan 22, 2014 12:21am
I don't know. We may see more down before we see up. Wish I hadn't set my stop so tight.
  • #359,739
  • Jan 22, 2014 12:32am Jan 22, 2014 12:32am
Quoting Baggi
I don't know. We may see more down before we see up. Wish I hadn't set my stop so tight.
I keep my shorts till ~1.6420 as my technicals are showing 1.6420 area as the next testing level for bears and support for bulls before the news,
then the news will decide but I am still a fan of 1.6750 area since on a monthly chart that's when the EMA200 sits, for now
good luck today, plenty to come,
  • #359,740
  • Edited 12:47am Jan 22, 2014 12:34am | Edited 12:47am
Quoting ajpipsmaker
Well, there is a nasty trend line for the nasty cable on the hourly chart as shown below. The pair is struggling to take this out. The employment report is on the cards for the pair. If the employment numbers register gains, then the pair might blast through this trend line and trade higher. {image} There are chances that the pair might break this in advance ahead of the report. If that is the case, then I may jump into a buy trade with a stop below this trend line. This is just my view. What's your take guys? Ajpipsmaker

I am the black sheep on this thread so I am all Bear. Since 2009 Cable has been in well defined range.Have we broken this range? Nope.
That's it.As simple as that.If you are buying then you are taking greater risk because you are buying top of this range.
If 6750 is not violated then greater force is down.This is my trading style and you don't have to agree.I trade range even in greater TF
Fact is 70% forex is in range. Almost Everyone has been putting up charts about bull up trend all that.To me its not a trend but a range. You want trend look at UJ GJ AU and most yen pairs.That's trend.

Someone here pages back complained that Bear traders are not justifying their Bear positions.Really comical since when one has justify in public forum what one does with his money furthermore why would anyone care what others think about your positions.There are literally millions of traders having positions both Bear and Bull, are we suppose to trade only once everyone agrees in our position? That's really stupid thinking to be honest.
Trade what you think you should and put the headphones on!
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.weekly.png Size: 23 KB
In trading, you have to be defensive and aggressive at the same time
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