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Cable Update (GBPUSD)

  • #361,801
  • Feb 3, 2014 12:59am Feb 3, 2014 12:59am
All I would say about this pair now is that if you're short, watch out for the 76.4% fib level because we are on it, as we were on Jan 16th anchored from Dec 17th and it held. However, the momentum to the downside is now greater than before, so it's pay your money and take your chance.
  • #361,802
  • Feb 3, 2014 12:59am Feb 3, 2014 12:59am
Quoting hollowhead
{quote} 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.

funny how a bear trader like me wants bull action. I am almost certain we will get some reaction on bull side.Everybody wins bulls and Bears
rest of the year was more of a joke.
glad to see you here Steve
In trading, you have to be defensive and aggressive at the same time
  • #361,803
  • Feb 3, 2014 1:11am Feb 3, 2014 1:11am
Quoting GlobalMacro
Looking for a good level to buy....
Placing Orders:


Buy Stop : 1.6400

S / L : 1.6340

T / P : OPEN


Cable now 1.6388
Hear the music before the song is over ...
  • #361,804
  • Feb 3, 2014 1:12am Feb 3, 2014 1:12am
Right now cable is stopped at two important fibo levels: 78.6 from the previous big up swing, and 161.8 external projection from the las up swing. I'm short but i think this is going up
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdh1.png Size: 75 KB
  • #361,805
  • Feb 3, 2014 1:16am Feb 3, 2014 1:16am
Quoting Davit
{quote} funny how a bear trader like me wants bull action. I am almost certain we will get some reaction on bull side.Everybody wins bulls and Bears rest of the year was more of a joke. glad to see you here Steve

Thanks Davit. That's what I love about trading - you can be right and make money, but you can also be right and lose money; you can be wrong and lose money, but you can can also be wrong and make money. Bulls and bears feeding each other - everyone's happy.
  • #361,806
  • Feb 3, 2014 1:19am Feb 3, 2014 1:19am
I think we are going up at least to 38.2% fib --> 1.6475 approx.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdh1.png Size: 83 KB
  • #361,807
  • Feb 3, 2014 1:23am Feb 3, 2014 1:23am
Quoting elbert3
{quote} 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,
good, but M30 is too volatile imo...jumps around a lot.
Hear the music before the song is over ...
  • #361,808
  • Feb 3, 2014 1:28am Feb 3, 2014 1:28am
Quoting GlobalMacro
{quote} Placing Orders: Buy Stop : 1.6400 S / L : 1.6340 T / P : OPEN Cable now 1.6388

Cable now 1.6406 = BUY STOP ORDER FILLED @ 1.6400:

LONG @ 1.6400

S / L : 1.6340

T / P : OPEN
Hear the music before the song is over ...
  • #361,809
  • Feb 3, 2014 1:33am Feb 3, 2014 1:33am
long 63722 target 6425 450
  • #361,810
  • Feb 3, 2014 1:34am Feb 3, 2014 1:34am
Still eyeing 1.633x/4x for the moment.

A move higher would be good for a short
COT: The precious data ignored
  • #361,811
  • Feb 3, 2014 1:35am Feb 3, 2014 1:35am
Quoting kuroro001
Still eyeing 1.633x/4x for the moment. A move higher would be good for a short


negative data does not encourage the Bulls.We could see 63 by NY open
In trading, you have to be defensive and aggressive at the same time
  • #361,812
  • Feb 3, 2014 1:41am Feb 3, 2014 1:41am
Quoting GlobalMacro
{quote} Cable now 1.6406 = BUY STOP ORDER FILLED @ 1.6400: LONG @ 1.6400 S / L : 1.6340 T / P : OPEN
Placing T/P order @ 1.6400:

LONG @ 1.6400

S / L : 1.6340

T / P : 1.6400
Hear the music before the song is over ...
  • #361,813
  • Feb 3, 2014 1:41am Feb 3, 2014 1:41am
Quoting Davit
{quote} negative data does not encourage the Bulls.We could see 63 by NY open

That's possible on a monday

I'd be happy to close short around 1.633x though, let's see.

On daily 1.625x is a possibility
COT: The precious data ignored
  • #361,814
  • Feb 3, 2014 1:43am Feb 3, 2014 1:43am
sold 2 shorts right on target line see my last chart looking to go short later, nowhold 2 longs
  • #361,815
  • Feb 3, 2014 1:45am Feb 3, 2014 1:45am
Quoting GlobalMacro
{quote} Placing T/P order @ 1.6400: LONG @ 1.6400 S / L : 1.6340 T / P : 1.6400

I wonder why you went long before the data release.
Talk about gambling that's exactly what you did.
In trading, you have to be defensive and aggressive at the same time
  • #361,816
  • Feb 3, 2014 1:53am Feb 3, 2014 1:53am
Quoting Davit
{quote} I wonder why you went long before the data release. Talk about gambling that's exactly what you did.
I doubt you ever will know why...no wonder with your level of education.

Just keep doubling down ala martingale.

This guy's got nerves talking about gambling
Hear the music before the song is over ...
  • #361,817
  • Feb 3, 2014 1:56am Feb 3, 2014 1:56am
Quoting Davit
{quote} I wonder why you went long before the data release. Talk about gambling that's exactly what you did.
As long as risk is controlled its fine, and he is not going all in hoping for a gain
COT: The precious data ignored
  • #361,818
  • Edited 2:10am Feb 3, 2014 1:56am | Edited 2:10am
Quoting GlobalMacro
{quote} I doubt you ever will know why..
nice idiotic response.Lets see "trend is up crap"

"Trend IS your friend -- You'd better Believe That!"

most oxymoron platitude on trading.Why don't you tell us simpleton at what point your golden trend has turned around!Furthermore I don't martingale I average in!and what do you know about my education!
In trading, you have to be defensive and aggressive at the same time
  • #361,819
  • Feb 3, 2014 1:59am Feb 3, 2014 1:59am
Trading is mentally tough. I went short earlier after break of 1,64 and was stopped out by a few pips. Then I went long thinking of a small pull back from the resistance and... see what we have now. I think this is what daily chart meant with his motto "Trade it, don't date it!" Should learn more about good stops.
Fix up, trade sharp ...
  • #361,820
  • Feb 3, 2014 2:23am Feb 3, 2014 2:23am
Quoting GlobalMacro
{quote} I doubt you ever will know why...no wonder with your level of education. Just keep doubling down ala martingale. This guy's got nerves talking about gambling
The guy's got a point; there's no need to be unpleasant.
Placing an order (rather than a buy or sell stop) ahead of a news release is gambling because:
a) you don't know what the release will be (e.g. for NFP, what the headline figure will be)
b) even if you did, you don't know how the market will react to the release
I have no clue what I'm talking about.
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