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Cable Update (GBPUSD)

  • #360,581
  • Jan 24, 2014 11:13am Jan 24, 2014 11:13am
Quoting el_duende
Another thing to ponder over the weekend. Markets have been pricing in that GBP will raise rates before USD. What would happen if this idea were to change? What if BOE made noises that they don't see any rate change for the foreseeable future, that the 7% unemployment figure doesn't matter? What if US stocks run out of steam?

ok, I see. your US dollar outlook is strenthening. I think the same too
ignore wackos and psychos, including myself. But I can't add myself to iggy
  • #360,582
  • Jan 24, 2014 11:14am Jan 24, 2014 11:14am
Quoting Greener
{quote} another thing to ponder Barlclays just published a forecast for a BOE rate hike in Q2 2015 previous was Q3 2016
yes Q2 2015 is what majority of people have.

UK has a ridiculous amount of debt, that is rising. Making debt more expensive for both the government and for peoples personal debt is a recipe for disaster IMO.
  • #360,583
  • Jan 24, 2014 11:19am Jan 24, 2014 11:19am
Quoting TauTrader
{image}

Tau

This how a imagine you when you where loading up your shorts. You've got big balls. Bet you need a rum and coke after this week........
Attached Image
  • #360,584
  • Jan 24, 2014 11:19am Jan 24, 2014 11:19am
Quoting Davit
{quote} To me US fundamentals are on thin ice improvement sort of marginal.Unemployment still high and only positive news is Feds tempering and that's good but overall US still in slump economically. Its sad to see how Feds really try hard to see any positive news to get out of printing money but at each time get smacked back to reality. In truth as a patriotic citizen this country is falling apart and to distract folks we go to unnecessary wars with trillions of cost.This kind of thinking starting with Bush senior is disastrous....I am libertarian...

What I would do is to close the latest entries that make a small profit or at BE right now, and manage the rest. If the market goes up later you can reload back gradually. If the market goes down, close gradually part by part and make sure each part makes a small profit or at BE. Scale in and out to manage losing positions.
ignore wackos and psychos, including myself. But I can't add myself to iggy
  • #360,585
  • Jan 24, 2014 11:26am Jan 24, 2014 11:26am
I got burned by shorting G/U after a whole day of longing it, just before the spike up 3 days ago, only to see it almost coming back down there today. But realized that this is only a game and you have to risk everything you have if you are to recover your losses or gain something (or just lose it all and quit).
  • #360,586
  • Jan 24, 2014 11:26am Jan 24, 2014 11:26am
Quoting squawk
{quote} My suggestion is that if you aspire to make a living out of trading you need to think about actual lot size you would need to trade to make a living. Protecting equity is number 1 (you know that I not telling you to suck eggs). If your down 270 you must have been down a hell of a lot more than that prior. I would suggest close your shorts and take a hit. The last thing you want to do is reward yourself for getting into a bad position. If you take a loss you will remember it. Theres no real level between here and 650. The way I see it will...

I have a full time job and you are correct my account is not big enough for trading full time.My style of trading is averaging in with small lots and I could improve lot of areas.By no means I assume I mastered trading.This has been tougher then drawing a nude women
Regards
In trading, you have to be defensive and aggressive at the same time
  • #360,587
  • Jan 24, 2014 11:26am Jan 24, 2014 11:26am
Quoting el_duende
{quote} yes Q2 2015 is what majority of people have. UK has a ridiculous amount of debt, that is rising. Making debt more expensive for both the government and for peoples personal debt is a recipe for disaster IMO.
BNP is saying Q1....if that's the plan, BOE foresees a massive growth throughout 2014 in UK
  • #360,588
  • Jan 24, 2014 11:28am Jan 24, 2014 11:28am
Quoting Davit
{quote} To me US fundamentals are on thin ice improvement sort of marginal.Unemployment still high and only positive news is Feds tempering and that's good but overall US still in slump economically. Its sad to see how Feds really try hard to see any positive news to get out of printing money but at each time get smacked back to reality. In truth as a patriotic citizen this country is falling apart and to distract folks we go to unnecessary wars with trillions of cost.This kind of thinking starting with Bush senior is disastrous....I am libertarian...
Indeed that's the key fundamental. How each country can deal with its debt.

I think personally UK's debt is more of an issue, time will tell.
  • #360,589
  • Jan 24, 2014 11:30am Jan 24, 2014 11:30am
Quoting el_duende
{quote} Indeed that's the key fundamental. How each country can deal with its debt. I think personally UK's debt is more of an issue, time will tell.
the only way to deal with debt is growth, more jobs and higher income, that's what BOE predicts. I don't have other explanation.
  • #360,590
  • Jan 24, 2014 11:31am Jan 24, 2014 11:31am
Quoting Davit
{quote} This has been tougher then drawing a nude women Regards
It's always tough!!!!

Drawing a nude women that is......
  • #360,591
  • Jan 24, 2014 11:31am Jan 24, 2014 11:31am
This weekly breakout retest is proving relentless against the bulls.

We have a Carnage Carney Crash back to support, but immediate weekly uptrend still intact.
Closed all longs to protect profits.
PA from here next week will be interesting....
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpusdweekly.png Size: 33 KB
Click to Enlarge Name: gbpusddaily.png Size: 30 KB
Click to Enlarge Name: gbpusddaily2.png Size: 28 KB
Click to Enlarge Name: gbpusdh4.png Size: 31 KB
Come with me if you want to live....
  • #360,592
  • Jan 24, 2014 11:33am Jan 24, 2014 11:33am
Quoting ffleo
{quote} What I would do is to close the latest entries that make a small profit or at BE right now, and manage the rest. If the market goes up later you can reload back gradually. If the market goes down, close gradually part by part and make sure each part makes a small profit or at BE. Scale in and out to manage losing positions.

I can't close profits early.This is something I worked consciously hard to let the winners run
If I get stopped out then fine but as long as PA is going my way I will let it run.
Good example is my recent G/CHF short at 1.5111 which I closed 104 pips only to see drop another 200pips.This I can't allow.We all need to work at this.
Regards bro

Limit longs placed 89 8880 on U/CHF PA is 50pips away to trigger
In trading, you have to be defensive and aggressive at the same time
  • #360,593
  • Jan 24, 2014 11:40am Jan 24, 2014 11:40am
Quoting Davit
{quote} I can't close profits early.This is something I worked consciously hard to let the winners run If I get stopped out then fine but as long as PA is going my way I will let it run. Good example is my recent G/CHF short at 1.5111 which I closed 104 pips only to see drop another 200pips.This I can't allow.We all need to work at this. Regards bro Limit longs placed 89 8880 on U/CHF
yes. Just reduce position to the size you are comfortable with and hold it. If not under pressure there is no need to reduce position size.
I am going to hold my shorts for weeks.
ignore wackos and psychos, including myself. But I can't add myself to iggy
  • #360,594
  • Jan 24, 2014 11:41am Jan 24, 2014 11:41am
Taking a small buy here,

SL below
Come with me if you want to live....
  • #360,595
  • Jan 24, 2014 11:42am Jan 24, 2014 11:42am
Quoting Greener
{quote} the only way to deal with debt is growth, more jobs and higher income, that's what BOE predicts. I don't have other explanation.
Me neither, I have no idea how they stop the increasing debt. I think there is now an inevitability feel to it.

Higher incomes may be hard to achieve with the ever increasing costs of living. In real terms people are earning less year on year.

The jobs being created are low paid and part time. Even zero hour jobs are being counted now.

Growth needs service/manufacturing to be boosted and sold to other countries but a high GBP hinders this.

It doesn't look good
  • #360,596
  • Jan 24, 2014 11:45am Jan 24, 2014 11:45am
Quoting Ill-b-back
Taking a small buy here, SL below

I get the feeling GU bubble is over.We could see lower numbers coming week.All stops cleared now its smack down time.There is no important news release until Feb 3rd PMI
In trading, you have to be defensive and aggressive at the same time
  • #360,597
  • Jan 24, 2014 11:45am Jan 24, 2014 11:45am
Quoting squawk
{quote} Tau This how a imagine you when you where loading up your shorts. You've got big balls. Bet you need a rum and coke after this week........ {image}
Sir,

You are close...

But not over yet..

1.5562 would be nice though.

All success
  • #360,598
  • Jan 24, 2014 11:49am Jan 24, 2014 11:49am
Quoting samooh
any body see a rising wedge if GBP breaks 1.64- 1.6425 target will be 1.59 can any body agree
of course i posted already, nobody cares about it, just wait and see
  • #360,599
  • Jan 24, 2014 11:50am Jan 24, 2014 11:50am
Closed all.

The problem is..

We need 1.3757 on EU..

Once we get that - we go lower. So - another leg up expected

Regards
  • #360,600
  • Jan 24, 2014 11:50am Jan 24, 2014 11:50am
Quoting Davit
{quote} I get the feeling GU bubble is over.We could see lower numbers coming week.All stops cleared now its smack down time.There is no important news release until Feb 3rd PMI
Could be,

we all follow our own maps
Come with me if you want to live....
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