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Cable Update (GBPUSD)

  • #362,581
  • Feb 7, 2014 3:33pm Feb 7, 2014 3:33pm
Quoting GlobalMacro
Sell Stop Entry Order @ 1.6385 Cable now 1.6389
Filled when cable dropped to 1.6382...should've set it lower, then could sell higher now...oh well.

OK. Setting trade parameters:

SHORT @ 1.6385
S/L : 1.6450
T/P: OPEN

Cable now 1.6409 High: 1.6418
Open P&L : - 24 pips
Hear the music before the song is over ...
  • #362,582
  • Feb 7, 2014 3:36pm Feb 7, 2014 3:36pm
Quoting chazzle
cable back under 384 or weakness between 414/24 to consider intraday shorts imo
GU M15

... and ... just out of time

markets a bit too slow after the release
Attached Image (click to enlarge)
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  • #362,583
  • Feb 7, 2014 3:45pm Feb 7, 2014 3:45pm
Attached Image (click to enlarge)
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doji on the 30mi some res from past and on the 38 fib line
  • #362,584
  • Feb 7, 2014 3:45pm Feb 7, 2014 3:45pm
Quoting GlobalMacro
{quote} Filled when cable dropped to 1.6382...should've set it lower, then could sell higher now...oh well. OK. Setting trade parameters: SHORT @ 1.6385 S/L : 1.6450 T/P: OPEN Cable now 1.6409 High: 1.6418 Open P&L : - 24 pips
This guy has earned my respect, Looking forward to next week !!!
  • #362,585
  • Feb 7, 2014 3:54pm Feb 7, 2014 3:54pm
Quoting IveGotQuads
{quote} This guy has earned my respect, Looking forward to next week !!!
Appreciate it.Have a nice weekend, IGQ.
Hear the music before the song is over ...
  • #362,586
  • Feb 8, 2014 12:34am Feb 8, 2014 12:34am
Quoting Trademunity
{quote} Nice analysis. The main theme is the Fed is going to continue taper.
Yes this is a theme that will shape 2014. USD will slowly but surely gain strength.
In trading, you have to be defensive and aggressive at the same time
  • #362,587
  • Feb 8, 2014 1:09am Feb 8, 2014 1:09am
Quoting GlobalMacro
{quote} Filled when cable dropped to 1.6382...should've set it lower, then could sell higher now...oh well. OK. Setting trade parameters: SHORT @ 1.6385 S/L : 1.6450 T/P: OPEN Cable now 1.6409 High: 1.6418 Open P&L : - 24 pips
funny that we are on same side
Your SL happens to be 50% Fib which is another of my sell zone.
In trading, you have to be defensive and aggressive at the same time
  • #362,588
  • Feb 8, 2014 1:29am Feb 8, 2014 1:29am
Quoting Zappa
{quote} Their ego can not handle the blow, so they just continue on in denial all the while trying to portray a strong character. Attack people on forums, puff out their chests, and trade with peanuts or even demo accounts---that is their M.O.. It is the learning from mistakes that pushes us forward in skills. See you at 1.6600.

Well said
  • #362,589
  • Feb 8, 2014 3:52am Feb 8, 2014 3:52am
Yeah anyway gentlemen, after these embarrassing words here ... let's just see where the pound is headed next week. I will just try to buy when I get the opportunity and if it turns out differently, I will adapt to the situation in the market. So what is really the problem?
Fix up, trade sharp ...
  • #362,590
  • Edited 5:09am Feb 8, 2014 4:53am | Edited 5:09am
Quoting Davit
{quote} funny that we are on same side Your SL happens to be 50% Fib which is another of my sell zone.
Who would've thought.
As a trend trader simply can't ignore the emerging trend reversal, albeit a secondary one...primary trend still intact though, some more selloff needed for that to break.

Nice trades to you.
Hear the music before the song is over ...
  • #362,591
  • Feb 8, 2014 7:58am Feb 8, 2014 7:58am
Cable_My four charts' worth_08.02.14
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: gbpusdpivots.png Size: 66 KB
Author of: For Pip's Sake! (Available at Amazon... :-) )
  • #362,592
  • Feb 8, 2014 8:35am Feb 8, 2014 8:35am
Quoting Zappa
{quote} Their ego can not handle the blow, so they just continue on in denial all the while trying to portray a strong character. Attack people on forums, puff out their chests, and trade with peanuts or even demo accounts---that is their M.O.. It is the learning from mistakes that pushes us forward in skills. See you at 1.6600.
  • #362,593
  • Feb 8, 2014 10:28am Feb 8, 2014 10:28am
Quoting Davit
{quote} Losing is part of trading so kindly fk off. I don't have to prove little turds how I trade and justify it but since you follow me everywhere I am 10 wins zero losses this month and 72 wins 13 minor losses last month with 20% equity growth and 6% so far this month. These are live accounts. I don't trade demo. {image} {image} {image}
1.54% drawdown so you are keeping your risk in check Seems like you much prefer the short side are you more of a countertrend trader?
  • #362,594
  • Feb 8, 2014 12:31pm Feb 8, 2014 12:31pm
Quoting GlobalMacro
{quote} Who would've thought. As a trend trader simply can't ignore the emerging trend reversal, albeit a secondary one...primary trend still intact though, some more selloff needed for that to break. Nice trades to you.
Hi GM
Sorry that we started on wrong foot but it was not my intention.Green pips to you as well
regards


I had some embarrassing posts thrown at me by haters and lot of erroneous garbage posts.
6months ego I did lose 37% of my account and since then recovered my losses and learned from my mistakes(I trade differently now with strict SL controls) however it does not stop one poster keep reminding me of it.Mocking me over and over.Calling me "pro" Trader on every opportunity with mocking laughing manner when I never claimed I am.I have full time job.My account is not big yet to trade full time.
His posts are full of assumptions what my positions are and sadly the guy is truly suffering from jealousy syndrome.
Decided not going to respond to trolls and haters.That's it.
In trading, you have to be defensive and aggressive at the same time
  • #362,595
  • Feb 8, 2014 12:38pm Feb 8, 2014 12:38pm
Quoting uksnowman
{quote} 1.54% drawdown so you are keeping your risk in check Seems like you much prefer the short side are you more of a countertrend trader?
I have been focusing on exhaustion points which are bases of harmonics key fibs.Often these occur on shorts side of late because majors are on uptrend but does not mean you can't take advantage of retraces which could be 200-400+pips.
Often trend traders misunderstand this assuming you are trying to pick Tops but not necessarily.On GU top is already established on last major swing now we are experiencing typical reaction to it.
Regards
In trading, you have to be defensive and aggressive at the same time
  • #362,596
  • Feb 8, 2014 2:28pm Feb 8, 2014 2:28pm
After bouncing off the green 50fib, I'll be watching for a Monday spike up to the other 50fib and breakout retest.
If we get rejection from there, I suspect we could be heading down to the 61.8fib/support/TL breakout retest, where we could see some bullish fireworks
Attached Image(s) (click to enlarge)
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Come with me if you want to live....
  • #362,597
  • Feb 8, 2014 2:28pm Feb 8, 2014 2:28pm
daily defiantly suggests higher to me ,which would mean the hammer will break ,tho I couldn't be sure ,
Bullish Hammer ? deep in price ,bullish hammer limited capablilites (black body)
Attached Image (click to enlarge)
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #362,598
  • Feb 8, 2014 2:46pm Feb 8, 2014 2:46pm
three pin bars on daily suggest we are moving north atlest to 1.66......thats what price action says......

dont beleieve me but see what market do....that's how i trade
you are the creator of your own destiny-Shivyog
  • #362,599
  • Feb 8, 2014 3:35pm Feb 8, 2014 3:35pm
I don't think you can ignore the clear rejection from strong support at the 6250 area or the strong rejection 6600 area. From my view a lot of the strong fundamentals and expectations for the cable have been priced into the market so would need something out of the ordinary to move it higher beyond the 6650. I also think the fundamentals coming out for the US are not convincing of a strong recovery yet. To me it looks like a ranging market at the top of the trend. My view is we could see some weeks of ranging between those levels before we break to either direction.

I think a strong weekly rejection, retest and rejection of these levels will lead to the trend change or continuation. I think the smart play is to trade the current range between these levels and bias either way should be changeable. Ultimately I think we will eventually break to the downside but I have been doing this long enough to know it's folly to predict or think that you know with out certainty which way we are heading.

Looking for a run back to 6360 area for adding another long however market build a good, bullish fractal base on Friday and may just continue higher.
  • #362,600
  • Feb 8, 2014 4:39pm Feb 8, 2014 4:39pm
Quoting Bones
daily defiantly suggests higher to me ,which would mean the hammer will break ,tho I couldn't be sure , Bullish Hammer ? deep in price ,bullish hammer limited capablilites (black body) {image}
i guess next week is down
ignore wackos and psychos, including myself. But I can't add myself to iggy
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