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Cable Update (GBPUSD)

  • #361,561
  • Jan 30, 2014 1:18pm Jan 30, 2014 1:18pm
Quoting Ill-b-back
{quote} I really think the fun will start next week GM
Because of NFP, CBs, etc. ?
Hear the music before the song is over ...
  • #361,562
  • Jan 30, 2014 1:34pm Jan 30, 2014 1:34pm
Quoting GlobalMacro
{quote} Because of NFP, CBs, etc. ?
A whole range of things including those.

Everyman and his dog knows my higher TF outlook by now.

Lower TF, we have had 2 bearish patterns and STILL we are making higher highs and higher lows and all this into the face of the monthly 200ema.

If that's not representative of higher TF power, I don't know what is.

Fundy wise, The EM's are copping a beating, crap US figures today, NFP will be interesting,

Yellen to the rescue...

Many very sane people will say the Fed wouldn't be so reckless, but what needs to be realised is that recklessness is their unofficial mandate.

We have long been at the point where leaving markets to their natural forces would be an absolute catastrophy, the Fed has long since shown its hand and I just don't think they will let things go from here.
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Come with me if you want to live....
  • #361,563
  • Jan 30, 2014 1:35pm Jan 30, 2014 1:35pm
Quoting GlobalMacro
{quote} Raising S/L up to 1.6465: LONG @ 1.6455 S / L : 1.6465 T / P : OPEN
Dropped only downto 1.6472.

Position locked in now.

Cable now 1.6484

Will let 'er roll.
Hear the music before the song is over ...
  • #361,564
  • Jan 30, 2014 6:58pm Jan 30, 2014 6:58pm
short GBPUSD @ 64827

i don't have any targets but i do have a -30 pip stop loss and a break even at +30 in profit with a jump stop for every 50.
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  • #361,565
  • Jan 30, 2014 6:59pm Jan 30, 2014 6:59pm
on my demo EA, the EA opened some JPY shorts. but that's for another thread
  • #361,566
  • Jan 30, 2014 8:44pm Jan 30, 2014 8:44pm
6450 is real psychological tough level.Break this and doors open to 63
Markets need to make money and rarely does cable stay in tight range.Last 20days it has averaged 90pips.So logical deduction is 6450 will be broken because there is no incentive to go up on end of month last day of the week without news event.
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In trading, you have to be defensive and aggressive at the same time
  • #361,567
  • Jan 30, 2014 8:48pm Jan 30, 2014 8:48pm
Quoting Davit
6450 is real psychological tough level.Break this and doors open to 63 {image}
It will be 63 by EOD tomorrow.
  • #361,568
  • Jan 30, 2014 8:52pm Jan 30, 2014 8:52pm
Quoting capitulation
{quote} It will be 63 by EOD tomorrow.
Although I am heavy short there is substantial buying power still present.Not so easy.
In trading, you have to be defensive and aggressive at the same time
  • #361,569
  • Jan 30, 2014 9:01pm Jan 30, 2014 9:01pm
Quoting Davit
6450 is real psychological tough level.Break this and doors open to 63 Markets need to make money and rarely does cable stay in tight range.Last 20days it has averaged 90pips.So logical deduction is 6450 will be broken because there is no incentive to go up on end of month last day of the week without news event. {image}
Forex as Leverage
  • #361,570
  • Jan 30, 2014 9:06pm Jan 30, 2014 9:06pm
GBP finally on the move. hope you guys are taking advantage
  • #361,571
  • Jan 30, 2014 9:08pm Jan 30, 2014 9:08pm
Quoting Davit
{quote} Although I am heavy short there is substantial buying power still present.Not so easy.
I'm drinking a little bit and was just blowing smoke. I am heavily short as well , but a big part of me thinks we see 67 before the big down move. I don't deal much with the tech aspect but I look for critical inflection points or confluence with macro events to try and time moves. This week played out exactly how I forecasted, but with little reaction.

At the end of the day the huge run up on the pound was basically the idea of an interest rate move. That is not going to happen and it is just a matter of time before sentiment shifts. We are in a multi year consolidation at the top of the range and at some point in the next few months we will see 50 or lower. I think most folks that deal with cable on this board neglect the USD side of the pair.

In any event green pips to all.
  • #361,572
  • Jan 30, 2014 9:19pm Jan 30, 2014 9:19pm
Quoting capitulation
{quote} I'm drinking a little bit and was just blowing smoke. I am heavily short as well , but a big part of me thinks we see 67 before the big down move. I don't deal much with the tech aspect but I look for critical inflection points or confluence with macro events to try and time moves. This week played out exactly how I forecasted, but with little reaction. At the end of the day the huge run up on the pound was basically the idea of an interest rate move. That is not going to happen and it is just a matter of time before sentiment shifts. We...
Yes I agree sentiment shift is critical.We are looking 1.5-2yr to interest rate hike on UK so we are still in range.Although overall Pound is percieved as safe heaven hence I don't see 1.50 in 2 months but 1.60-158 possible for sure.
Regards
In trading, you have to be defensive and aggressive at the same time
  • #361,573
  • Jan 30, 2014 9:48pm Jan 30, 2014 9:48pm
cable this shit is really stubborn, compared to euro. We shorted the wrong pair.
ignore wackos and psychos, including myself. But I can't add myself to iggy
  • #361,574
  • Jan 30, 2014 10:03pm Jan 30, 2014 10:03pm
Quoting ffleo
cable this shit is really stubborn, compared to euro. We shorted the wrong pair.
funny I was thinking the same today...
In trading, you have to be defensive and aggressive at the same time
  • #361,575
  • Jan 30, 2014 10:06pm Jan 30, 2014 10:06pm
Quoting Davit
{quote} funny I was thinking the same today...
E/G is going to drop below 0.8160 eventually, then euro will drop faster then cable, or cable goes up faster than euro. Too late to get in euro shorts. Have to wait for a bounce in euro to get in shorts.
ignore wackos and psychos, including myself. But I can't add myself to iggy
  • #361,576
  • Jan 30, 2014 10:54pm Jan 30, 2014 10:54pm
Quoting Davit
{quote} funny I was thinking the same today...
same..

but we have to think perhaps if euro sinks deep cable will follow..infact the fact it is stubborn..leads me to think its gonna drop hard
  • #361,577
  • Jan 30, 2014 11:05pm Jan 30, 2014 11:05pm
Quoting nAVIN2007
{quote} same.. but we have to think perhaps if euro sinks deep cable will follow..infact the fact it is stubborn..leads me to think its gonna drop hard
Hi Nav
I am in profit now and can exit and done with this but I sense this pair is due to major correction.At least I want to see 6380 and that would be great.
Otherwise I prefer crosses better.
In trading, you have to be defensive and aggressive at the same time
  • #361,578
  • Jan 30, 2014 11:07pm Jan 30, 2014 11:07pm
Quoting Davit
{quote} Hi Nav I am in profit now and can exit and done with this but I sense this pair is due to major correction.At least I want to see 6380 and that would be great. Otherwise I prefer crosses better.
if it falls below 1.6..she will tank
  • #361,579
  • Jan 30, 2014 11:28pm Jan 30, 2014 11:28pm
The question of time only time. In short term as you see the primary target is 6275, then 6170 and long term target is 6000 near the blue EMA200 line. I think that would be the very minimum of the first quarter of 2014. Then it will go back to 6500 again.
Share your points of view.
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  • #361,580
  • Jan 30, 2014 11:40pm Jan 30, 2014 11:40pm
more I use Bollinger Bands more I love them.
Notice how price came to dead center on daily and got stuck there.Ideal spot to go long is at lower BB bands at 63-6275 zone
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In trading, you have to be defensive and aggressive at the same time
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