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Cable Update (GBPUSD)

  • #361,781
  • Edited 10:03pm Feb 2, 2014 9:37pm | Edited 10:03pm
Can't wait until whales push this up.
Manufacturing PMI tonight Hoping green numbers and nice 100pip spike
In trading, you have to be defensive and aggressive at the same time
  • #361,782
  • Feb 2, 2014 10:08pm Feb 2, 2014 10:08pm
We are too close right now to the middle. This is what I'm looking at.

Attached Image (click to enlarge)
Click to Enlarge Name: 4hour.JPG Size: 138 KB


This is the 4 hour chart, and it looks like we have more downside. Until about 1.6370 or so.
  • #361,783
  • Feb 2, 2014 10:23pm Feb 2, 2014 10:23pm
Quoting Baggi
We are too close right now to the middle. This is what I'm looking at. {image} This is the 4 hour chart, and it looks like we have more downside. Until about 1.6370 or so.

charts are irrelevant when major news is due.If green price will shoot up irregardless of trend lines.
Price will stay stable until MPMI unless there is news leakage early.
regards
In trading, you have to be defensive and aggressive at the same time
  • #361,784
  • Feb 3, 2014 12:47am Feb 3, 2014 12:47am
Quoting Davit
{quote} charts are irrelevant when major news is due.If green price will shoot up irregardless of trend lines. Price will stay stable until MPMI unless there is news leakage early. regards
Perhaps.

If price does "shoot up" due to news, it will go up to the top red line, then return to it's downward movement. And it will consolidate between the lines until it breaks out one way or the other.

I'm not sure we are done with the up move yet though, so when it hits down toward that bottom red line, I'll be a buyer.
  • #361,785
  • Feb 3, 2014 1:13am Feb 3, 2014 1:13am
Quoting GlobalMacro
{quote} Looked like PA was going for that level again, but stopped just ahead of it ... maybe monday asian session....
done
Hear the music before the song is over ...
  • #361,786
  • Edited 1:52am Feb 3, 2014 1:20am | Edited 1:52am
Quoting edindzeko
{quote} Where are you looking at Sterling futures?

STIRs Short sterling futures
Hear the music before the song is over ...
  • #361,787
  • Feb 3, 2014 1:55am Feb 3, 2014 1:55am
Looking for a good level to buy....
Hear the music before the song is over ...
  • #361,788
  • Feb 3, 2014 2:01am Feb 3, 2014 2:01am
Pound Trader missing in action.
Come on buddy I need some bulls here to keep me motivated.

I need the whole team of bulls Need price to get to 1.65
In trading, you have to be defensive and aggressive at the same time
  • #361,789
  • Feb 3, 2014 2:04am Feb 3, 2014 2:04am
Pound fell under 1,6392
Fix up, trade sharp ...
  • #361,790
  • Feb 3, 2014 2:06am Feb 3, 2014 2:06am
Quoting Hickson
Pound fell under 1,6392

Need positive PMI then sell the crap out of it
In trading, you have to be defensive and aggressive at the same time
  • #361,791
  • Feb 3, 2014 2:08am Feb 3, 2014 2:08am
Quoting Davit
{quote} Need positive PMI then sell the crap out of it

LOL! Hm, this might even happen ... they go for the buy stops ... pile up a monsterous tower and hammer it down with the wrecking ball. I have seen this kind of game a few times now in my very young trading career.
Fix up, trade sharp ...
  • #361,792
  • Feb 3, 2014 2:14am Feb 3, 2014 2:14am
Quoting Hickson
{quote} LOL! Hm, this might even happen ... they go for the buy stops ... pile up a monsterous tower and hammer it down with the wrecking ball. I have seen this kind of game a few times now in my very young trading career.

Short limits 2x65 2x 6550 2x66 3x6650
In trading, you have to be defensive and aggressive at the same time
  • #361,793
  • Feb 3, 2014 2:17am Feb 3, 2014 2:17am
Quoting Davit
{quote} Short limits 2x65 2x 6550 2x66 3x6650
Good Luck brother
  • #361,794
  • Feb 3, 2014 2:27am Feb 3, 2014 2:27am
Quoting capitulation
{quote} Good Luck brother

Thanks bro
I regret getting out of my shorts early.Now sadly I may not see 1.65 or higher for rest of the year
In trading, you have to be defensive and aggressive at the same time
  • #361,795
  • Feb 3, 2014 2:40am Feb 3, 2014 2:40am
Quoting Davit
{quote} Thanks bro I regret getting out of my shorts early.Now sadly I may not see 1.65 or higher for rest of the year
Sound like you can just sell now and set a SL at 1.65.
  • #361,796
  • Feb 3, 2014 2:44am Feb 3, 2014 2:44am
Attached Image (click to enlarge)
Click to Enlarge Name: day.png Size: 105 KB
day chart fro 2 weeks ago all targets hit up to now
Attached Image (click to enlarge)
Click to Enlarge Name: old trend.png Size: 118 KB
looks like were going to change trend 1.6250 will be the factor to confirm we had also 1.6305 which was a bit of a tough one to crack on the way down i have 2 shorts from friday which i will keep as they are small ones but look to add more depending on the news
  • #361,797
  • Feb 3, 2014 2:51am Feb 3, 2014 2:51am
Quoting MrketSniper
{quote} Sound like you can just sell now and set a SL at 1.65.

news could be positive 38min to go
I learned to be patient.
I seriously practice this philosophy

What Crocodiles Can Teach You About Trading
by Nial Fuller
In trading, you have to be defensive and aggressive at the same time
  • #361,798
  • Feb 3, 2014 2:51am Feb 3, 2014 2:51am
Quoting GlobalMacro
Looking for a good level to buy....
what did you think of the move i quoted to you look at the 30 min chart looks similar to friday just gone long but still have the 2 shorts,
  • #361,799
  • Feb 3, 2014 2:52am Feb 3, 2014 2:52am
GU D1 M15

Cable reacting to this level - see if bulls can put up a fight here
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gud1.PNG Size: 47 KB
Click to Enlarge Name: gum15.PNG Size: 31 KB
  • #361,800
  • Feb 3, 2014 2:53am Feb 3, 2014 2:53am
Quoting Davit
{quote} Thanks bro I regret getting out of my shorts early.Now sadly I may not see 1.65 or higher for rest of the year

The rest of the year is a long time, lots can happen!! FWIW, according to Abonnaci templates I don't think it will go much lower than 1.6188, for me that is the break point, if it goes lower then we're looking at a bear trend. Until then I am still seeing it as bullish. I might get shot down for this but I will be looking for it to go up again from 1.6188 towards 1.6772, even as far as 1.6827.
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