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Cable Update (GBPUSD)

  • #361,541
  • Jan 30, 2014 11:12am Jan 30, 2014 11:12am
usd has broke and created support ,but I admit just above is a problom
Attached Image (click to enlarge)
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #361,542
  • Edited 11:46am Jan 30, 2014 11:13am | Edited 11:46am
Quoting PoundTrader
{quote} you shaking your ass now ain't you

Holding for much lower ,my TP is 6320
Although I am in profit now will hold for lower
Euro breaks 35 house of cards come down tumbling.

Real question is- Is the big money buying in retracement or selling the rallies.
Hard to tell Price did hit cluster of longs at 6450 but got rejected at 6520 on H1

Just as a coincidence Cable plunged down from 6370 last year in Jan...so we could be in longer term correction.
Attached Image (click to enlarge)
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In trading, you have to be defensive and aggressive at the same time
  • #361,543
  • Jan 30, 2014 11:26am Jan 30, 2014 11:26am
Quoting el_duende
My short order at 16550 has been triggered. Good pips to all!
My short orders 166 and 16550 both closed for profits at 16450.


Have placed new short orders at 16520 and 16495 however I think I have already missed the action

Shouldn't have stayed in the pub


Edit - Cancelled those orders lol prob best not trading after drinkini Jim Beam
  • #361,544
  • Jan 30, 2014 11:31am Jan 30, 2014 11:31am
I bought bounce of 61.8% retracement of jan17-jan24 rally which is 1.6445.

And here's my live trade posted 6 hours ago:
Quoting GlobalMacro
{quote} - 61.8 % retracement - CP Area Cable now 1.6456 = BUY STOP ORDER FILLED @ 1.6455: LONG @ 1.6455 S / L : 1.6390 T / P : OPEN
I would suggest we should continue this discussion, once you also post your live trades.
Will make things a whole lot clearer.



Quoting Bones
everyone different I guess ,I don't think im trying to pick a top as I have a top of range which is already laid out something good to trade off show me on a chart how you decided to buy today {quote}
Hear the music before the song is over ...
  • #361,545
  • Jan 30, 2014 11:38am Jan 30, 2014 11:38am
Quoting el_duende
{quote} My short orders 166 and 16550 both closed for profits at 16450. Have placed new short orders at 16520 and 16495 however I think I have already missed the action Shouldn't have stayed in the pub Edit - Cancelled those orders lol prob best not trading after drinkini Jim Beam

your newer shorts would have been winners as well if you had not cancel them
its fine there is always another opportunities.
Congrats on winners
Choose a better bourbon next time
In trading, you have to be defensive and aggressive at the same time
  • #361,546
  • Jan 30, 2014 11:41am Jan 30, 2014 11:41am
Quoting Davit
{quote} Holding for much lower ,my TP is 6320 Although I am in profit now will hold for lower Euro breaks 35 house of cards come down tumbling. Real question is are the big money buying in retracement or selling the rallies. Hard to tell Price did hit cluster of longs at 6450 but got rejected at 6520 on H1 Just as a coincidence Cable plunged down from 6370 last year in Jan...so we could be in longer term correction. {image}
Hi Davit, I often have similar thoughts to you.

1.63 is a key level for a reversal. The most likely orders for new longs will be at 1.63 and around 16385.

Will be interesting to see how both weekly and monthly charts shape up on Friday.
  • #361,547
  • Jan 30, 2014 11:49am Jan 30, 2014 11:49am



Quoting GlobalMacro
I bought bounce of 61.8% retracement of jan17-jan24 rally which is 1.6445. And here's my live trade posted 6 hours ago: {quote} I would suggest we should continue this discussion, once you also post your live trades. Will make things a whole lot clearer. {quote}
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #361,548
  • Jan 30, 2014 11:51am Jan 30, 2014 11:51am
Quoting el_duende
{quote} Hi Davit, I often have similar thoughts to you. 1.63 is a key level for a reversal. The most likely orders for new longs will be at 1.63 and around 16385. Will be interesting to see how both weekly and monthly charts shape up on Friday.

Never feel bad about taking profit.Look for G/CHF for weakness. This is shaping up nicely for shorts.
1.49 is becoming a Resistance
regards
Attached Image (click to enlarge)
Click to Enlarge Name: gbpchf.h4.png Size: 36 KB
In trading, you have to be defensive and aggressive at the same time
  • #361,549
  • Jan 30, 2014 12:18pm Jan 30, 2014 12:18pm
Quoting JimmyC
{quote} www.Bloomberg.com/ click the link to live tv - If its a big announcement Or these are best http://www.bankofengland.co.uk/publi.../2014/706.aspx
Thank you Dear....
  • #361,550
  • Jan 30, 2014 12:34pm Jan 30, 2014 12:34pm
Quoting Davit
{quote} Never feel bad about taking profit.Look for G/CHF for weakness. This is shaping up nicely for shorts. 1.49 is becoming a Resistance regards {image}
Saw resistance too but not the pattern. got 1 short already at 4895, see what we can do. also looking at intraday usdchf short as its at 61.8 back of drop
  • #361,551
  • Jan 30, 2014 12:39pm Jan 30, 2014 12:39pm
Quoting edindzeko
{quote} Saw resistance too but not the pattern. got 1 short already at 4895, see what we can do. also looking at intraday usdchf short as its at 61.8 back of drop

I only buy U/CHF never sell.Certain pairs I never short.Movement of swissy is strongly correlated with EU so only time worth shorting swissy if EU is going up.
3550 EU could easily break to 35 and that would push swissy to 9080
regards
In trading, you have to be defensive and aggressive at the same time
  • #361,552
  • Jan 30, 2014 12:44pm Jan 30, 2014 12:44pm
Quoting Davit
{quote} I only buy U/CHF never sell.Certain pairs I never short.Movement of swissy is strongly correlated with EU so only time worth shorting swissy if EU is going up. 3550 EU could easily break to 35 and that would push swissy to 9080 regards

Its been in a downtrend for like 10+ years, i respect your trading style though.
  • #361,553
  • Jan 30, 2014 12:46pm Jan 30, 2014 12:46pm
Quoting Waqar Ashraf
{quote} Thank you Dear....
Pleasure sweetie
  • #361,554
  • Jan 30, 2014 12:48pm Jan 30, 2014 12:48pm
Quoting edindzeko
{quote} Its been in a downtrend for like 10+ years, i respect your trading style though.

To me its perfect range trading pair. Since 2011 Swissy has been in a range.
Cycle wise we are in bottom of cycle going up.I think coming months USD will get stronger.With taper in place only direction is up.
I make a decision of bias on greater scale then only trade in that direction buying in dips.You could also make money selling the rallies so no conflict there.
On shorter TF like 1min and 5min trend is basically irrelevant.
Regards
Attached Image (click to enlarge)
Click to Enlarge Name: usdchf.weekly.png Size: 25 KB
In trading, you have to be defensive and aggressive at the same time
  • #361,555
  • Jan 30, 2014 1:05pm Jan 30, 2014 1:05pm
GU Daily
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  • #361,556
  • Edited 1:16pm Jan 30, 2014 1:16pm | Edited 1:16pm
GU 4H

Hint
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  • #361,557
  • Jan 30, 2014 1:27pm Jan 30, 2014 1:27pm
Quoting capitulation
{quote} I see us heading much lower than 450. The up move is exhausted, I am thinking 163.25 - 163.90 by tomorrow.
I agree the market needs to be filled to the 350 level so I have a short. From there I will let the market decide. I don't have a bias either way and see the market as ranging.
  • #361,558
  • Jan 30, 2014 1:35pm Jan 30, 2014 1:35pm
Quoting Davit
{quote} Holding for much lower ,my TP is 6320 Although I am in profit now will hold for lower Euro breaks 35 house of cards come down tumbling. Real question is- Is the big money buying in retracement or selling the rallies. Hard to tell Price did hit cluster of longs at 6450 but got rejected at 6520 on H1 Just as a coincidence Cable plunged down from 6370 last year in Jan...so we could be in longer term correction. {image}
here's a cup for you http://www.easyfreesmileys.com/smile...mileys-346.gif
  • #361,559
  • Jan 30, 2014 3:09pm Jan 30, 2014 3:09pm
Quoting GlobalMacro
{quote} - 61.8 % retracement - CP Area Cable now 1.6456 = BUY STOP ORDER FILLED @ 1.6455: LONG @ 1.6455 S / L : 1.6390 T / P : OPEN
Raising S/L up to 1.6465:

LONG @ 1.6455

S / L : 1.6465

T / P : OPEN
Hear the music before the song is over ...
  • #361,560
  • Jan 30, 2014 3:11pm Jan 30, 2014 3:11pm
Quoting GlobalMacro
{quote} Raising S/L up to 1.6465: LONG @ 1.6455 S / L : 1.6465 T / P : OPEN
I really think the fun will start next week GM
Come with me if you want to live....
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