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Cable Update (GBPUSD)

  • #360,801
  • Jan 27, 2014 6:06am Jan 27, 2014 6:06am
Quoting Barry Chan
{quote} I dont see any signal from 4H and Daily chart of GU, can you explain?
explain reason for long ?
  • #360,802
  • Jan 27, 2014 6:30am Jan 27, 2014 6:30am
Watching 6568 for buying opportunities.
  • #360,803
  • Jan 27, 2014 6:37am Jan 27, 2014 6:37am
After a nice daily retracement, retest of ~6464 major resistance, the bullish trend continues.
The last daily bearish engulfing is not so good sign for bulls, but who belive in trends like me
The monthly candles will be finished the end of this week, the last monthly high and the yearly mR1 are resistence at the moment.
I hope GU can defeat these res. and maybe this daily candle could engulf the last I have not too much chance
We well see soon. The lower TF is too wicky from the up at the moment...

Good luck and sorry for my poor english!
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpusdh4.png Size: 94 KB
Click to Enlarge Name: gbpusddaily.png Size: 81 KB
Click to Enlarge Name: gbpusdweekly.png Size: 80 KB
Click to Enlarge Name: gbpusdym15.png Size: 62 KB
Anything is math!
  • #360,804
  • Jan 27, 2014 6:46am Jan 27, 2014 6:46am
added 2 more shorts at 6564 edit moved SL to BE at 6560
at 50 Fib not a fib bit important number.
got stopped out previews shorts at 6520-30 +45pips
looking for AB=CD pattern
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.h4.png Size: 44 KB
In trading, you have to be defensive and aggressive at the same time
  • #360,805
  • Jan 27, 2014 6:54am Jan 27, 2014 6:54am
Quoting Davit
added 2 more shorts at 6564 edit moved SL to BE at 6560 at 50 Fib not a fib bit important number. got stopped out previews shorts at 6520-30 +45pips looking for AB=CD pattern {image}

Same thing. I got hunted down on stops on EUR/GBP short and GBP/USD short. knocked out as the market opened. and now i log in and see price where i expected it to be

edit. I had GBP/usd long.
"HEY! Whats all this chocolate on yo face?" - "It's doodoo, babby!"
  • #360,806
  • Jan 27, 2014 6:56am Jan 27, 2014 6:56am
Quoting Davit
added 2 more shorts at 6564 edit moved SL to BE at 6560 at 50 Fib not a fib bit important number. got stopped out previews shorts at 6520-30 +45pips looking for AB=CD pattern {image}
Sir,

Also looking to short again. One entry done.

Regards
  • #360,807
  • Jan 27, 2014 7:01am Jan 27, 2014 7:01am
Took a sneaky long this morning.. Intraday movements might be short lived and choppy with FOMC in a few sessions.. At this point Pound could go both ways, but dips around 6470/50 and 6380's looks like promising buying oportunities..
Attached Image (click to enlarge)
Click to Enlarge Name: GBP_USD_5 Mx.png Size: 43 KB
69
  • #360,808
  • Jan 27, 2014 7:02am Jan 27, 2014 7:02am
Quoting TauTrader
{quote} Sir, Also looking to short again. One entry done. Regards

Hi Tau
I know lot of good traders are long on cable and reasons are justified however to me we are in 5yr range and we are top of this range so to me buyers are greater risk.One good US data will send this baby down in rabid motion.(home sales at 10am today)
regards
In trading, you have to be defensive and aggressive at the same time
  • #360,809
  • Jan 27, 2014 7:10am Jan 27, 2014 7:10am
Quoting TauTrader
{quote} Sir, Also looking to short again. One entry done. Regards
Sir T!

I think your H4 shorts was riped
If you were not impatient, and your lot multipiler was not too big, you had nice profits! I hope!

Good luck!
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdh4.png Size: 59 KB
Anything is math!
  • #360,810
  • Jan 27, 2014 7:14am Jan 27, 2014 7:14am
Quoting Kajos2250
After a nice daily retracement, retest of ~6464 major resistance, the bullish trend continues. The last daily bearish engulfing is not so good sign for bulls, but who belive in trends like me The monthly candles will be finished the end of this week, the last monthly high and the yearly mR1 are resistence at the moment. I hope GU can defeat these res. and maybe this daily candle could engulf the last I have not too much chance We well see soon. The lower TF is too wicky from the up at the moment... Good luck and sorry for my poor english!...
I have strengthened my longs when M1 turned bullish trend again
The last one will be closed if i see a new LH, LL on the M1 again... lool
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdym1.png Size: 59 KB
Anything is math!
  • #360,811
  • Jan 27, 2014 7:16am Jan 27, 2014 7:16am
Quoting 110101
{quote} Same thing. I got hunted down on stops on EUR/GBP short and GBP/USD short. knocked out as the market opened. and now i log in and see price where i expected it to be edit. I had GBP/usd long.

6550 kind of holding as resistance.lets see how things unfold.
regards
In trading, you have to be defensive and aggressive at the same time
  • #360,812
  • Jan 27, 2014 7:39am Jan 27, 2014 7:39am
Good day,

I have decided to pace my shorts from here and will only add every 50. Targets will be:

1.6457 obviously

Then 1.6172 - followed by 1.6000.

Ultimately targetting 1.5725 and then 1.5562

It can take a year..

Regards
  • #360,813
  • Jan 27, 2014 7:42am Jan 27, 2014 7:42am
Quoting Kajos2250
{quote} Sir T! I think your H4 shorts was riped If you were not impatient, and your lot multipiler was not too big, you had nice profits! I hope! Good luck! {image}
Sir, K

I walked away intact. Thank you..

Like your indicator!

Made a few bucks. I'm shorting again

All the best
  • #360,814
  • Jan 27, 2014 7:48am Jan 27, 2014 7:48am
Quoting PayTheLimit
{quote} took another look, and I think I'll try shorts higher... sell 6608, risk 6618

changed my mind again...sell 6583, risk 6591...
Look Sharp/Trade Tight
  • #360,815
  • Jan 27, 2014 7:55am Jan 27, 2014 7:55am
Expected to up 50 pips from this level.
  • #360,816
  • Jan 27, 2014 8:10am Jan 27, 2014 8:10am
Quoting PayTheLimit
{quote} changed my mind again...sell 6583, risk 6591...

try for 6523..
Look Sharp/Trade Tight
  • #360,817
  • Jan 27, 2014 8:14am Jan 27, 2014 8:14am
Quoting TauTrader
{quote} Sir, K I walked away intact. Thank you.. Like your indicator! Made a few bucks. I'm shorting again All the best
Thank you!

If you would like to own, let me know!
Or if you would have some idea to it, let me know it too!
Anything is math!
  • #360,818
  • Jan 27, 2014 8:25am Jan 27, 2014 8:25am
Quoting PoundTrader
{quote} i agree, best thing to do is wait till another push either way, just have to make sure you get in at the right time

https://encrypted-tbn1.gstatic.com/i...aLfwybisKrRQi8


.... -- -- ....
Always looking the GREAT, never left GOOD Point...
  • #360,819
  • Jan 27, 2014 8:30am Jan 27, 2014 8:30am
Quoting Davit
{quote} Hi Tau I know lot of good traders are long on cable and reasons are justified however to me we are in 5yr range and we are top of this range so to me buyers are greater risk.One good US data will send this baby down in rabid motion.(home sales at 10am today) regards
I also think that being long on the top of a 5 yr range is extremely risky. There is some room for longs, but just for the short term, in my humble opinion.
One must be long at support, short at resistance!
  • #360,820
  • Jan 27, 2014 8:42am Jan 27, 2014 8:42am
Every breakout begins with hurintg an S/R... In my mind the last was ~6464 and the next ~6700...
Anything is math!
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