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Cable Update (GBPUSD)

  • #363,081
  • Feb 12, 2014 10:57am Feb 12, 2014 10:57am
Quoting Greener
{quote} this is a good sign it is topping. long term bears should be already dead
more blood to come imo - absolutely nothing bearish here

GU H4
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  • #363,082
  • Feb 12, 2014 11:04am Feb 12, 2014 11:04am
Nice bullish increased volume from S/R ~6464. I look forward how this H4 will close. Maybe next intact major resistance ~6700 could be the next target.
Buy limit .6461, Sl .6541.

Invalidation if H4 could close under ~6517, until i will take longs.

Good luck!
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Anything is math!
  • #363,083
  • Feb 12, 2014 11:05am Feb 12, 2014 11:05am
still n osign of bear, trying to scalp between 65 and 85 ... this will run for some time.
  • #363,084
  • Feb 12, 2014 11:13am Feb 12, 2014 11:13am
I'm putting in a tight stop as we may get another run up here after the news releases in the next two hours.
  • #363,085
  • Feb 12, 2014 11:17am Feb 12, 2014 11:17am
Quoting Greener
{quote} if they are last minute bears they are wise men. I expect a nasty fall soon or later and this one, in theory, could have been the perfect day. no interest rates hikes for over a year on uncertain/unsustainable growth and inflated employment data ...it doesn't get any worse than that inmho but you're free to think otherwise...the pound gets pounded when nobody is watching...it may still get to 1660 though. Charts are bullish.
While I am in short, it is only meant for short term, no more than 12-15 hours.

I think this has more to run up.
  • #363,086
  • Feb 12, 2014 12:07pm Feb 12, 2014 12:07pm
Quoting Baggi
{quote} While I am in short, it is only meant for short term, no more than 12-15 hours. I think this has more to run up.
this is meant to be very short term. I am ready to change everything. Ego is my enemy.
  • #363,087
  • Feb 12, 2014 12:10pm Feb 12, 2014 12:10pm
Quoting Greener
{quote} this is meant to be very short term. I am ready to change everything. Ego is my enemy.
lol ur a bull now Greener?
  • #363,088
  • Feb 12, 2014 12:44pm Feb 12, 2014 12:44pm
The 1.6660/1.6700 area seems a reasonable target on the upside.
I have no clue what I'm talking about.
  • #363,089
  • Feb 12, 2014 12:49pm Feb 12, 2014 12:49pm
Quoting iNSIELD
{quote} lol ur a bull now Greener?
It was a risky strategy and I was aware of that. I am still in but waiting for confirmation and ready to anything. Carney was/is talking on ITV a few mins ago/now. Don't know what he is saying. it could be a good timing to pound the pound.
  • #363,090
  • Feb 12, 2014 1:11pm Feb 12, 2014 1:11pm
Prediction: We will move up just enough to take out my stop, then fall a few hundred pips, just to twist the knife.
  • #363,091
  • Feb 12, 2014 1:12pm Feb 12, 2014 1:12pm
Late afternoon is a great time to cause some stops to run, like last time when GJ fell to 164. Looks like a 3-barrel to me. If we don't hit 1.66 in the next 4 hours we may see a retest of 1.656x but as it is the catalyst for the next frenzy will be another HH in GJ (above 170.25) which will ilkely yield at least another 50 pips from both GU and UJ stops. If you're short I would suggest already being out, everybody has the stops at the same spot, treat any pull back as a gift. But not yet ready to go long because when you go long while it's inactive it just comes back in your face as you've given the shorts a lifeline. Zero sum game at the end of the day, pick your battles
  • #363,092
  • Feb 12, 2014 1:25pm Feb 12, 2014 1:25pm
It looks like the last major resistance is about to fall. Nevertheless, in the region above 1,66 I expect very aggressive selling.
Fix up, trade sharp ...
  • #363,093
  • Feb 12, 2014 1:26pm Feb 12, 2014 1:26pm
Quoting Baggi
Prediction: We will move up just enough to take out my stop, then fall a few hundred pips, just to twist the knife.

Isn't it a idea of big players....
  • #363,094
  • Feb 12, 2014 1:29pm Feb 12, 2014 1:29pm
Quoting eurusd_trade
Late afternoon is a great time to cause some stops to run, like last time when GJ fell to 164. Looks like a 3-barrel to me. If we don't hit 1.66 in the next 4 hours we may see a retest of 1.656x but as it is the catalyst for the next frenzy will be another HH in GJ (above 170.25) which will ilkely yield at least another 50 pips from both GU and UJ stops. If you're short I would suggest already being out, everybody has the stops at the same spot, treat any pull back as a gift. But not yet ready to go long because when you go long while it's inactive...
I am giving myself a very short time frame for these shorts. I just watched the ITV headlines about Carney's interview "interest rates can stay low for a lot longer". Right now the UK is severely hit by storms and floodings which will certainly have an impact on the overall economy. the sterling may receive some extra help soon.
  • #363,095
  • Feb 12, 2014 1:35pm Feb 12, 2014 1:35pm
Quoting Hickson
It looks like the last major resistance is about to fall. Nevertheless, in the region above 1,66 I expect very aggressive selling.


1.659...?
  • #363,096
  • Feb 12, 2014 1:44pm Feb 12, 2014 1:44pm
Quoting Greener
{quote} I am giving myself a very short time frame for these shorts. I just watched the ITV headlines about Carney's interview "interest rates can stay low for a lot longer". Right now the UK is severely hit by storms and floodings which will certainly have an impact on the overall economy. the sterling may receive some extra help soon.
Sure, as I said the catalyst for the next move higher will be if GJ manages to print another HH, as for now it has not so the market's dead
Mostly from UJ struggling
We are still far from intraday pivots so there is time before they creep higher and force the market's hand.
It would be a massive gift to shorts if GJ went to the pivot instead of the pivot going to GJ so I wouldn't bet on that especially in quiet markets.
  • #363,097
  • Feb 12, 2014 1:52pm Feb 12, 2014 1:52pm
http://www.forexfactory.com/attachme...1&d=1392220851must be a short area
  • #363,098
  • Feb 12, 2014 1:56pm Feb 12, 2014 1:56pm
Quoting Beli
{quote} 1.659...?
Yes.
Fix up, trade sharp ...
  • #363,099
  • Edited 2:14pm Feb 12, 2014 1:59pm | Edited 2:14pm
Quoting eurusd_trade
{quote} Sure, as I said the catalyst for the next move higher will be if GJ manages to print another HH, as for now it has not so the market's dead Mostly from UJ struggling We are still far from intraday pivots so there is time before they creep higher and force the market's hand. It would be a massive gift to shorts if GJ went to the pivot instead of the pivot going to GJ so I wouldn't bet on that especially in quiet markets.
see this is why i suggested cutting ti, if shorts plan on cutting GJ at 170.25 why not just cut it at 169.9x, you save 30 ticks, that' a lot. Even if we somehow miss 170.25, you knew you were going to see 170.0x again at this hour so why not try to improve the cost basis
From reading the forums and looking at the price action you already know people are trapped under 169.8x
Worse if someone is undisciplined and doesn't cut it even at 170.25, then they're potentially looking at another 50+ pips in their face
"HOPE" is the answer to this madness, and it is every trader's enemy against reason
There is no way this is a conviction sell and every short KNOWS there are better opportunities out there when the market is busier etc. yet they are still in it
only saving grace is S&P testing this hangman support here putting some pressure on UJ but i'm not counting on it brekaing
  • #363,100
  • Feb 12, 2014 2:12pm Feb 12, 2014 2:12pm
Quoting eurusd_trade
{quote} see this is why i suggested cutting ti, if shorts plan on cutting GJ at 170.25 why not just cut it at 169.9x, you save 30 ticks, that' a lot. Even if we somehow miss 170.25, you knew you were going to see 170.0x again at this hour so why not try to improve the cost basis From reading the forums and looking at the price action you already know people are trapped under 169.8x Worse if someone is undisciplined and doesn't cut it even at 170.25, then they're potentially looking at another 50+ pips in their face "HOPE" is the answer to this madness,...
I call hope confirmation. Above 170.25 I am done with shorts, I might not even get there depending on GBPUSD reaction at 1660
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