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Cable Update (GBPUSD)

  • #362,421
  • Feb 6, 2014 11:52am Feb 6, 2014 11:52am
Quoting Zappa
{quote} Keepin' the ball rolling, but trying to catch the big fish. I think there's plenty of scratch to be made in several pairs right now, but GBPUSD is looking to be the most rewarding a.t.m.. Look at the weekly, we are about to break-out of a range. There is huge potential for this trade! (Edit: Sorry attachment is so small. Tried to fit it all on one screen shot. Don't have a lot of experience taking screenshots.) {image}



I feel you, and no problem the screenshot was okey.

I made 20pips today on gbp/usd but im out for the moment. it still got more to give but im short at eur/usd for the moment. big resistence where we are right now,

and waiting for good position to go long on usd/jpy.

will wait on the gbp/usd and see what happens..

Hope u had a good trading day!
  • #362,422
  • Feb 6, 2014 11:56am Feb 6, 2014 11:56am
Quoting theXfiles
{quote} I am still in EU {image}
Excellent.

I am concentrating on XXX/JPY - can't have everything.
  • #362,423
  • Feb 6, 2014 11:59am Feb 6, 2014 11:59am
Quoting Ken A
{quote} Excellent. I am concentrating on XXX/JPY - can't have everything.
I have only this trade, missed xxx / jpy today.
  • #362,424
  • Feb 6, 2014 12:14pm Feb 6, 2014 12:14pm
Not feeling too terribly confident about my short scalp here. I may set a tight stop.
  • #362,425
  • Feb 6, 2014 12:18pm Feb 6, 2014 12:18pm
Quoting Baggi
Not feeling too terribly confident about my short scalp here. I may set a tight stop.

If I was you I would wait for it, Im going short on eurusd insteed. Will get some nice pips there
  • #362,426
  • Feb 6, 2014 12:42pm Feb 6, 2014 12:42pm
Quoting snipereye
{quote} If I was you I would wait for it, Im going short on eurusd insteed. Will get some nice pips there
I haven't dumped out just yet. I bought in at 1634.
  • #362,427
  • Feb 6, 2014 12:44pm Feb 6, 2014 12:44pm
Quoting Baggi
{quote} I haven't dumped out just yet. I bought in at 1634.

Alright I wish u all the best!
  • #362,428
  • Feb 6, 2014 1:05pm Feb 6, 2014 1:05pm
Quoting snipereye
{quote} Alright I wish u all the best!
I went ahead and jumped out at 13 pips profit. Which is really only 11 pips profit because I trade through commission.

I'll look for a long entry now.
  • #362,429
  • Feb 6, 2014 1:15pm Feb 6, 2014 1:15pm
Quoting Baggi
{quote} I went ahead and jumped out at 13 pips profit. Which is really only 11 pips profit because I trade through commission. I'll look for a long entry now.

Okey that's nice Good job man!

Im out from eurusd and usdjpy 7.1 and 0.5 pips plus.

Will probably wait for Monday now,
  • #362,430
  • Feb 6, 2014 1:17pm Feb 6, 2014 1:17pm
Thanks Billy ,no haven't seen It

Tony

Quoting elbert3
{quote} hi bones it is my words for what i found works, it is hard to come across in text when trying to say what you want with out somebody getting cross when it was only a harmless message , and with that you can or anybody can watch the clip, you prob would of seen it before, respectfully billy http://www.youtube.com/watch?v=5Ne5nex8NJU
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #362,431
  • Feb 6, 2014 1:24pm Feb 6, 2014 1:24pm
support is very strong here and the candles I can't ignore
Just dosent want to leave range
2 week bearish momentum being eroded
Attached Image (click to enlarge)
Click to Enlarge Name: gbp USD d1 Spot.png Size: 27 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #362,432
  • Feb 6, 2014 2:15pm Feb 6, 2014 2:15pm
Quoting Bones
support is very strong here and the candles I can't ignore Just dosent want to leave range 2 week bearish momentum being eroded {image}


I agree but still think we will see it go short realy soon.
  • #362,433
  • Feb 6, 2014 2:27pm Feb 6, 2014 2:27pm
Quoting GlobalMacro
{quote} Raising order levels: Sell stop : 1.6323 S / L : 1.6388 T / P : OPEN Cable 1.6329 now
Alright, price comes back to fill the sell stop entry order.

Cable now 1.6322 = SELL STOP ENTRY ORDER FILLED @ 1.6323.

SHORT @ 1.6323

S / L : 1.6388

T / P : OPEN
Hear the music before the song is over ...
  • #362,434
  • Feb 6, 2014 3:02pm Feb 6, 2014 3:02pm
I dont know whats happening today with this gb, i have read lots of items about todays trading,and it seems i am not the only one, gb is or was expected to go to 6250 yet look were it is, i do think the trend is down, 1'4'8 hour charts the emas have crossed, we are out of the trend line on the day,....?... What is going on, i think the only reason is the eur has draged it up. With it, i have to believe in my trade and that is short, because without that i should not of sold ? Any body else have a good reason
  • #362,435
  • Feb 6, 2014 4:09pm Feb 6, 2014 4:09pm
Quoting Bones
support is very strong here and the candles I can't ignore Just dosent want to leave range 2 week bearish momentum being eroded {image}
that is an unusual set up i have gone back on the charts and not come across it before, the other thing is that on top of price is for me the 10 sma 34 and 55 emaso you would think the next target would be to meet the 200sma it is like it is a small range, we will know the answer tomorrow good night
  • #362,436
  • Feb 6, 2014 4:23pm Feb 6, 2014 4:23pm
I don't think we'll be going much lower than where we are right now, maybe another 10 pips or so. I wouldn't dare short this pair right now.
  • #362,437
  • Edited 5:15pm Feb 6, 2014 4:58pm | Edited 5:15pm
Quoting GlobalMacro
{quote} Odds favor break upside atm.
Yesterday around this time market had a high likelihood of breaking the lower-range highs (1.6345)
which it did today but what happened next .... it stalled, so that combined with y/d's failed attempt to break Tuesday's low
you got a lot of info the market is trying to convey here.

Right now odds favor retest of past two day lows.....

In the end it's all a probabilities' game, folks. Market can and will do whatever the heck it wants so have no expectation
as to where it should or should not go,
just set yourself a nice clean s/l you're comfortable with and let the market do the rest.

Alright. Cya Later.
Hear the music before the song is over ...
  • #362,438
  • Feb 6, 2014 5:53pm Feb 6, 2014 5:53pm
Quoting GlobalMacro
{quote} Yesterday around this time market had a high likelihood of breaking the lower-range highs (1.6345) which it did today but what happened next .... it stalled, so that combined with y/d's failed attempt to break Tuesday's low you got a lot of info the market is trying to convey here. Right now odds favor retest of past two day lows..... In the end it's all a probabilities' game, folks. Market can and will do whatever the heck it wants so have no expectation as to where it should or should not go, just set yourself a nice clean s/l you're comfortable...
Be careful. I might avoid shorts because of this even though the long trade is crowded
4:30am GBP Manufacturing Production m/m 0.6% 0.0%
I still prefer to short nearer 1.64, rather safety than extra risk, if I Miss i miss, there are other opps in other crosses
  • #362,439
  • Feb 6, 2014 7:33pm Feb 6, 2014 7:33pm
If the NFP numbers are bad tomorow, I will be buying GPB/USD. The pound has been weak for the past days
  • #362,440
  • Feb 6, 2014 7:49pm Feb 6, 2014 7:49pm
Quoting Ken A
{quote} Could be the reverse due to G/J and EUR/GBP
Im saying this because the GBP was on the losing side for the last 4 days. It will have to pull back and USD would be the best choice if the NFP numbers were bad. I would avoid GBP/JPY tho, bad data will probably results with the market flocking over the YEN. As for the Euro, I made my profits from it but have no clue as to where it will go next.
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