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Cable Update (GBPUSD)

  • #363,161
  • Feb 12, 2014 8:29pm Feb 12, 2014 8:29pm
Well, I guess Davit went back to drawing naked people. What a fckn creep.

I'm going to bed. See you later guys. Hope you enjoyed the show.
  • #363,162
  • Feb 12, 2014 8:40pm Feb 12, 2014 8:40pm
And we're still grinding! I guess more unfilled stops here. Frankly it doesn't even matter whether the shorters on this forum stop out or not, there's a large contingent of shorts who don't read this forum. I think someone had a chart pointing towards 1.67 to complete this phase, looks about right.
There's an adage, never fade an ASIA cable move (or an ASIA loonie move for that matter), if they've moving this in Asia it's not coming back
  • #363,163
  • Feb 12, 2014 8:45pm Feb 12, 2014 8:45pm
Bitch please!
All posts are my personal opinion
  • #363,164
  • Feb 12, 2014 8:46pm Feb 12, 2014 8:46pm
Just needs a little more time thats all then by by off the cliff we go
All posts are my personal opinion
  • #363,165
  • Feb 12, 2014 8:49pm Feb 12, 2014 8:49pm
Quoting eurusd_trade
And we're still grinding! I guess more unfilled stops here. Frankly it doesn't even matter whether the shorters on this forum stop out or not, there's a large contingent of shorts who don't read this forum. I think someone had a chart pointing towards 1.67 to complete this phase, looks about right. There's an adage, never fade an ASIA cable move (or an ASIA loonie move for that matter), if they've moving this in Asia it's not coming back
Yeah seems to be soaring now but its too late to be bullish imho unless you're just scalping.

This year has been a lot of traps so far with EU and GU, don't see how this one is different as of now. May take until next week to see any significant retrace though.
  • #363,166
  • Edited 9:05pm Feb 12, 2014 8:51pm | Edited 9:05pm
Quoting edindzeko
{quote} Yeah seems to be soaring now but its too late to be bullish imho unless you're just scalping. This year has been a lot of traps so far with EU and GU, don't see how this one is different as of now. May take until next week to see any significant retrace though.
Yeah well if it spikes to 1.6700-1.6750 that should be a spot to fade it But I not sure I agree that it's too late to be bullish. Certianly if you were alreayd long you should hold it. For a new long they might not want to just buy at resistance. Grinding implies stops. If the stops were done after 1.66 we would have just come off, instead we're heavily bid into 1.662x
Asia moves are usually very heavily defended in this pair, so a significant pull back more than 30 pips or so may be hard to find
That said we could find token resistance at 1.6625 but I don't expect it to hold forever
If the grind flattens out instead of continuing upwards like this we could see a small retracement which is an opportunity to get in a new long for the stops
  • #363,167
  • Feb 12, 2014 8:54pm Feb 12, 2014 8:54pm
Weekly Cable above 1.65 after 2 months of consolidation above the mofu TL may not be good news for those hoping for a February Flop..
EURGBP pause & bounce from these levels while Cable rise with cousin Euro from here could liven up this M/T lead lag line dance for the trio..
Pikers looking for intraday & S/T directional clues may want to keep an eye on Gold & Crosses..fwiww..

"Anticipation is the mother of all FX Evil..
He who keep anticipating bottoms, gets piece on Earth..
He who keep anticipating tops, gets peace in Heaven.." Fx_ConfusCius..
  • #363,168
  • Feb 12, 2014 9:27pm Feb 12, 2014 9:27pm
About Gbp, lucky those who can sell gbp big spike up at the top. It will sweep so many accounts
  • #363,169
  • Feb 12, 2014 9:33pm Feb 12, 2014 9:33pm
Quoting Fx-gtg
About Gbp, lucky those who can sell gbp big spike up at the top. It will sweep so many accounts

Pardon my confusion. Which are the lucky ones and which are the ones whose accounts will get swept?
  • #363,170
  • Edited 10:28pm Feb 12, 2014 9:37pm | Edited 10:28pm
Quoting Baggi
{quote} Pardon my confusion. Which are the lucky ones and which are the ones whose accounts will get swept?
Well good on you for stopping out earlier before 1.6600 printed, so you'll have an opportunity to sell again if we do go straight up to 1.67xx as is a likely outcome, with minimal <.5% retracement
Most other people likely won't be so lucky and many will blow their account. we are seeing some token resistance as expected here at 1.6625 and if we flatten out here in Asia we may get some pull back in london session before the possible continuation. A strengthening JPY can inhibit GBP strength as well, so it's not quite so obvious if we flatten here.
  • #363,171
  • Feb 12, 2014 10:28pm Feb 12, 2014 10:28pm
Quoting eurusd_trade
{quote} Well good on you for stopping out earlier before 1.6600 printed, so you'll have an opportunity to sell again if we do go straight up to 1.67xx as is a likely outcome, with minimal <.5% retracement Most other people likely won't be so lucky and many will blow their account. we are seeing some token resistance as expected here at 1.6625 and if we flatten out here in Asia we may get some pull back in london session before the possible continuation. A strengthening JPY can inhibit GBP strength as well, so it's not quite so obvious if we flatten...
edit: i'm gonna go to sleep and revise this to not sound so alarmist. there actually aren't any more GBP numbers for the rest of the week so i'm going to reduce the likelihood of this spike happening immediately from "likely" to "possible". GBP is a very news driven currency and in the absence of any news we may be more consolidative. Nonetheless whilst this 1.6625-1.6700 space will eventually prove to be a magnet, the timing may be tricky.
  • #363,172
  • Feb 12, 2014 10:30pm Feb 12, 2014 10:30pm
I see a slow retreat to 1.6440 area coming. From there would consider longs depending on the temperature.
  • #363,173
  • Feb 12, 2014 10:42pm Feb 12, 2014 10:42pm
Quoting edindzeko
I see a slow retreat to 1.6440 area coming. From there would consider longs depending on the temperature.
It could drop extremely fast if unemployment numbers come out green this morning over 100pips likely.I think market is already pricing in negative data perhaps due to severe winter storms we had but one never knows for sure.
In trading, you have to be defensive and aggressive at the same time
  • #363,174
  • Feb 12, 2014 10:47pm Feb 12, 2014 10:47pm
USD retail sales should be shit. no way can they be good. if weather was bad for jobs, how can weather be good enough for people to go shopping.
  • #363,175
  • Feb 12, 2014 11:51pm Feb 12, 2014 11:51pm
Quoting edindzeko
USD retail sales should be shit. no way can they be good. if weather was bad for jobs, how can weather be good enough for people to go shopping.
lol Americans are fat and lazy but they'll kill each other over a toaster just look at black friday one thing to keep in mind consumer spending was up this month so we may see a suprise to the upside we shall see
  • #363,176
  • Feb 13, 2014 12:00am Feb 13, 2014 12:00am
Quoting iNSIELD
{quote} lol Americans are fat and lazy but they'll kill each other over a toaster just look at black friday one thing to keep in mind consumer spending was up this month so we may see a suprise to the upside we shall see
little Bear movement already....
In trading, you have to be defensive and aggressive at the same time
  • #363,177
  • Feb 13, 2014 12:04am Feb 13, 2014 12:04am
Quoting Davit
{quote} It could drop extremely fast if unemployment numbers come out green this morning over 100pips likely.I think market is already pricing in negative data perhaps due to severe winter storms we had but one never knows for sure.

Could it also rise extremely fast if unemployment numbers come out red this morning, over 100 pips likely?
  • #363,178
  • Feb 13, 2014 12:05am Feb 13, 2014 12:05am
Quoting Davit
{quote} little Bear movement already....
Lol
Come with me if you want to live....
  • #363,179
  • Feb 13, 2014 12:27am Feb 13, 2014 12:27am
Quoting Baggi
{quote} Could it also rise extremely fast if unemployment numbers come out red this morning, over 100 pips likely?
It could I have 1.67 limit shorts just in case otherwise its a matter of waiting for Bear action.
This is severely overbought so top side is limited under present fundamentals.
I have done so many counter trades that I am used to DD.Not big but 10-20%DD is ok by me.This is the reason my lots are small but combine orders it gives good RR

Watching U/CHF long at 89 as well.
Regards
In trading, you have to be defensive and aggressive at the same time
  • #363,180
  • Feb 13, 2014 1:00am Feb 13, 2014 1:00am
morning doji on gbpnz need confirmation to short or could go aggressive sl over the doji,
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