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Cable Update (GBPUSD)

  • #360,261
  • Jan 23, 2014 11:41am Jan 23, 2014 11:41am
Quoting Davit
{quote} Accumulating drawdown now
whats your plan?
  • #360,262
  • Jan 23, 2014 11:45am Jan 23, 2014 11:45am
Quoting GlobalMacro
{quote} risk off it is......for now.
Did you check GBP/AUD?
  • #360,263
  • Jan 23, 2014 11:45am Jan 23, 2014 11:45am
Quoting Davit
{quote} Accumulating drawdown now Only need 100pips drop to make profit.I think we might see lot more next week.Its obvious this whole week has been "risk off" on cable but that could change next week. Institutions don't only buy they sell as well.Price is pushing on 200 fib extension which is pretty far out.6680's I anticipate sell orders waiting. {image}
i think rising wedge still alive, just was rebound from the wedge bottom line
Attached Image (click to enlarge)
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  • #360,264
  • Jan 23, 2014 11:50am Jan 23, 2014 11:50am
Quoting reclude82
{quote} whats your plan?

This batch of shorts are factored 6750 as my ceiling.If price gets there I will make a decision then.That's 2011 high.
In trading, you have to be defensive and aggressive at the same time
  • #360,265
  • Jan 23, 2014 11:51am Jan 23, 2014 11:51am
Quoting Davit
{quote} Accumulating drawdown now Only need 100pips drop to make profit.I think we might see lot more next week.Its obvious this whole week has been "risk off" on cable but that could change next week. Institutions don't only buy they sell as well.Price is pushing on 200 fib extension which is pretty far out.6680's I anticipate sell orders waiting. I also believe in concept of elasticity.When price is pushed to far out from 200SMA it tends to want to come to it as a equilibrium.200sma is around 5775. {image}
I expect the same.

Attached Image (click to enlarge)
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ignore wackos and psychos, including myself. But I can't add myself to iggy
  • #360,266
  • Jan 23, 2014 11:52am Jan 23, 2014 11:52am
I always said my timing sucked, but it looks like I'm still good with projected levels.

Careful here with shorts. I know it looks tempting, but other than a small retrace before continuing, it's a USD slaughter.

Attached Image (click to enlarge)
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Those who say it cannot be done should not interrupt those who are doing it
  • #360,267
  • Jan 23, 2014 11:55am Jan 23, 2014 11:55am
Quoting ffleo
{quote} I expect the same. {image}

I anticipate "good news" fizzling out next week.We should have healthy correction or cable could wipe out all my Jan profits
In trading, you have to be defensive and aggressive at the same time
  • #360,268
  • Jan 23, 2014 12:01pm Jan 23, 2014 12:01pm
Quoting Ken A
{quote} About 230 pips away to 1.9250

"HEY! Whats all this chocolate on yo face?" - "It's doodoo, babby!"
  • #360,269
  • Jan 23, 2014 12:08pm Jan 23, 2014 12:08pm
Quoting Ken A
{quote} Have a look at G/A and E/A Holding U/CAD long?
No I cashed out my U/CAD longs quite a while ago.
Haven't touched it since, but I see my original target of 1.10 has been surpassed.
Booking coin on Cable, Swissy and SP500 for now and I'm not disappointed at all.
Those who say it cannot be done should not interrupt those who are doing it
  • #360,270
  • Jan 23, 2014 12:09pm Jan 23, 2014 12:09pm
Quoting Ken A
{quote} Why

JPY
"HEY! Whats all this chocolate on yo face?" - "It's doodoo, babby!"
  • #360,271
  • Jan 23, 2014 12:16pm Jan 23, 2014 12:16pm
From BarCap

Receive UK rates, Pay US.
Long FTSE, Short SP500
Short GBPUSD (they added to their entry)
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GBP.png Size: 78 KB
Click to Enlarge Name: GBP 2.png Size: 45 KB
  • #360,272
  • Jan 23, 2014 12:16pm Jan 23, 2014 12:16pm
Quoting Ken A
{quote} I think it's about done for U/J already more than -100 pips

e,g,u/jpy longs. 40 pips in red each. thus
"HEY! Whats all this chocolate on yo face?" - "It's doodoo, babby!"
  • #360,273
  • Jan 23, 2014 12:18pm Jan 23, 2014 12:18pm
Quoting Davit
{quote} I anticipate "good news" fizzling out next week.We should have healthy correction or cable could wipe out all my Jan profits
I am on your boat. Still holding shorts, I am suspicous about this pound strength.
Fix up, trade sharp ...
  • #360,274
  • Jan 23, 2014 12:19pm Jan 23, 2014 12:19pm
Quoting JeremyWS
From BarCap Receive UK rates, Pay US. Long FTSE, Short SP500 Short GBPUSD (they added to their entry) {image} {image}

So they are going to hold 6-12 months short at 64 probably added lot more higher up.Interesting info thanks
In trading, you have to be defensive and aggressive at the same time
  • #360,275
  • Jan 23, 2014 12:20pm Jan 23, 2014 12:20pm
Quoting 110101
{quote} e,g,u/jpy longs. 40 pips in red each. thus
I am watching 102.80 if that level hold. Have scaled in from 103.50
  • #360,276
  • Jan 23, 2014 12:23pm Jan 23, 2014 12:23pm
Quoting reclude82
{quote} i think rising wedge still alive, just was rebound from the wedge bottom line {image}
Yeah, it's still alive to me too, just a nasty false breakout last week
  • #360,277
  • Jan 23, 2014 12:24pm Jan 23, 2014 12:24pm
Quoting Ken A
{quote} I am watching 102.80 if that level hold. Have scaled in from 103.50

i went long at .6... waited for the h1 close it opened up how i wanted and then proceeded to buy on e and g, thinking uj will drive them up.
"HEY! Whats all this chocolate on yo face?" - "It's doodoo, babby!"
  • #360,278
  • Jan 23, 2014 12:41pm Jan 23, 2014 12:41pm
Quoting Davit
{quote} So they are going to hold 6-12 months short at 64 probably added lot more higher up.Interesting info thanks
in 6-12 month period. There are very few bullish factors for GBP.
  • #360,279
  • Jan 23, 2014 12:47pm Jan 23, 2014 12:47pm
Quoting Ken A
{quote} Did you check GBP/AUD?
So this thing takes off almost 1000 pips within 10 days....amazing....
spread 3x cable risk 2.5x
Hear the music before the song is over ...
  • #360,280
  • Jan 23, 2014 12:50pm Jan 23, 2014 12:50pm
Quoting JeremyWS
{quote} in 6-12 month period. There are very few bullish factors for GBP.

I am not happy with my trading.I overestimated USD.Honestly I did not expect this shooting up so ferociously.Now sadly watching my account drawdown getting bigger.
In trading, you have to be defensive and aggressive at the same time
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