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Cable Update (GBPUSD)

  • #359,881
  • Jan 22, 2014 7:03am Jan 22, 2014 7:03am
sell 20lot 561 sl 575 tp?
With a good book and quality paper you can fine wipe your ass.
  • #359,882
  • Jan 22, 2014 7:03am Jan 22, 2014 7:03am
Quoting Ill-b-back
Nearly 70 percent of FF explorers are short GBPUSD, we have some hard core swingers here...
I wonder if that has anything to do with this piece of steaming dogsh*t article by dailyfx, posted last week...

http://www.forexfactory.com/news.php?do=news&id=467046
  • #359,883
  • Jan 22, 2014 7:03am Jan 22, 2014 7:03am
Quoting Kajos2250
I have just added one more, it seems to me to the pound continues to rise. I hope you are all in profit {image} {image}
I have just closed 5 longs from 8 and i am waiting some little retrace to reload them.

Good luck!
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdxm15.png Size: 58 KB
Anything is math!
  • #359,884
  • Jan 22, 2014 7:10am Jan 22, 2014 7:10am
Quoting Ill-b-back
Nearly 70 percent of FF explorers are short GBPUSD, we have some hard core swingers here...
As usually...
Always looking the GREAT, never left GOOD Point...
  • #359,885
  • Jan 22, 2014 7:11am Jan 22, 2014 7:11am
Quoting Ken A
Indeed, hardcore {image}
Cable has been bullish for ages till maybe losing some of its momentum 3 weeks ago and regaining it back. Unfortunately for those shorts , they were probably trying to call the top. Besides they werent cutting their losses short but rather holding the trade hoping for a downside and getting burnt. Just a combination of bad strategy and bad planning, nothing more.
  • #359,886
  • Jan 22, 2014 7:14am Jan 22, 2014 7:14am
Quoting JimmyC
{quote} counter trending to lose money, not different than usual, just difficult to understand
Nothing is wrong with counter trading with adjusted position size without losing sleep with drawdown over 1,000 pips.

I sometimes do that because of positive swap points or wrong decision but mostly wrong decision. The longest counter trend for me was U/CAD waited over 12 months to be in profit.

But I prefer to be on the ride side and bag profit in shortest period of time.
  • #359,887
  • Jan 22, 2014 7:15am Jan 22, 2014 7:15am
Nice !!! about time the Eur/Usd tanks have been waiting for the retrace to end. this may go all the way to 1.3450
  • #359,888
  • Jan 22, 2014 7:15am Jan 22, 2014 7:15am
Quoting IveGotQuads
{quote} Thanks I have been looking at this pair for a while now. Ill backtest my strategy on it
Take a look GBP/AUD pair too.

Almost the same... a little easier than GBP/NZD
Always looking the GREAT, never left GOOD Point...
  • #359,889
  • Jan 22, 2014 7:18am Jan 22, 2014 7:18am
Quoting Tsar
{quote} Take a look GBP/AUD pair too. Almost the same... little easier than GBP/NZD
Depends on the cooreleation with the Eur majors. Remember we have to keep this simple
  • #359,890
  • Jan 22, 2014 7:21am Jan 22, 2014 7:21am
Quoting Ken A
Indeed, hardcore {image}
wtf ,. 130 . 2.2% , 6 , -7.6% .... really hardcore
  • #359,891
  • Jan 22, 2014 7:22am Jan 22, 2014 7:22am
Any expectations as to GBP/CAD before the news?
  • #359,892
  • Jan 22, 2014 7:22am Jan 22, 2014 7:22am
Quoting JimmyC
Increase news target to 1.6638
Keep watch in Price 1.6590 or Higher 1.6600 first
Always looking the GREAT, never left GOOD Point...
  • #359,893
  • Jan 22, 2014 7:22am Jan 22, 2014 7:22am
Quoting Ken A
{quote} From PA movement E/U could be setting up to challenge the highs In history G/U and E/U in longer term always in sync
Euro fundamentally is challenged, I wonder how the relation between the Eur and Gbp will play out. To be honest I would think the pound should be way lower than it is now but I guess the market is always right
  • #359,894
  • Jan 22, 2014 7:25am Jan 22, 2014 7:25am
Quoting Ken A
{quote} Nothing is wrong with counter trading with adjusted position size without losing sleep with drawdown over 1,000 pips. I sometimes do that because of positive swap points or wrong decision but mostly wrong decision. The longest counter trend for me was U/CAD waited over 12 months to be in profit. But I prefer to be on the ride side and bag profit in shortest period of time.
Its like working with special needs children, only its easier to understand why they don't follow the rules as you would expect...

I'm closed 4H target met...
Attached Image (click to enlarge)
Click to Enlarge Name: GU 4H.png Size: 29 KB
  • #359,895
  • Jan 22, 2014 7:25am Jan 22, 2014 7:25am
Quoting Tsar
{quote} Take a look GBP/AUD pair too. Almost the same... a little easier than GBP/NZD
GBP/AUD is inversely correlated with AUD/USD

GBP/NZD (-) NZD/USD

GBP/CAD (+) USD/CAD

GBP/CHF (+) USD/CHF

And so on.....

Just identify Support/Resistance then take the position for crosses. Tight stops will not always survive to trade crosses.
  • #359,896
  • Jan 22, 2014 7:29am Jan 22, 2014 7:29am
Quoting IveGotQuads
{quote} Euro fundamentally is challenged, I wonder how the relation between the Eur and Gbp will play out. To be honest I would think the pound should be way lower than it is now but I guess the market is always right
NO. Pounds most Solid than EURO

About Relation... sometimes NOT. I've been experience repeated.
Always looking the GREAT, never left GOOD Point...
  • #359,897
  • Jan 22, 2014 7:29am Jan 22, 2014 7:29am
Quoting Tsar
{quote} Keep watch in Price 1.6590 or Higher 1.6600 first
Tx

  • #359,898
  • Jan 22, 2014 7:37am Jan 22, 2014 7:37am
Quoting JimmyC
{quote} Tx
Superb BULLISH Today

Use this Strategy...
Don't ever take a SHORT until LONDON Market's closed. And need take a look PA first before taking a decision.
Possible BREAK or Price will CONTINOUS the Trend...


Take Care :nerd:
Always looking the GREAT, never left GOOD Point...
  • #359,899
  • Jan 22, 2014 7:42am Jan 22, 2014 7:42am
Quoting GlobalMacro
Still bullish....just a spike down. Looking to buy: BUY LIMIT : 1.6349 S / L : 1.6287 T / P : OPEN
Trailing Profit Protection Stop up to 1.6449 and letting her run:


LONG @ 1.6349


Profit Protection Stop : 1.6449


T / P : OPEN


Cable now 1.6569

P&L : + 220 pips




GBP/USD - H8
Attached Image
Hear the music before the song is over ...
  • #359,900
  • Jan 22, 2014 7:55am Jan 22, 2014 7:55am
think we are in some resistance here..looking for some shorts me thinks..
Look Sharp/Trade Tight
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