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Cable Update (GBPUSD)

  • #363,321
  • Feb 13, 2014 4:29pm Feb 13, 2014 4:29pm
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  • #363,322
  • Feb 13, 2014 4:32pm Feb 13, 2014 4:32pm
The question is just: What happens, if it breaks out of a year's range?! Let the account stop out? I would advice to take a loss while it is still managable. This is just a horrible beast greedy for shorts retailers.
Fix up, trade sharp ...
  • #363,323
  • Feb 13, 2014 4:40pm Feb 13, 2014 4:40pm
Quoting Dano12
{image}
1.7 possible in long term. But this time it would be different from last time break out. Last time the daily trendline is downward and it was a bull flag. This time it is a diverging wedge. When price gets to the up wedge line it is already far stretched. It would need a retrace to launch again.
ignore wackos and psychos, including myself. But I can't add myself to iggy
  • #363,324
  • Feb 13, 2014 4:41pm Feb 13, 2014 4:41pm
ok way I see it we have friday to create wick or we go for top line as shown by most ,but consider the build up momentum here one not great pin ,
traveled 250 pips already
its false I think ,
I'm short and a sniff of my fellow bears stepping in ill be adding ,
ideally as a bear I want to see something solid to know I'm right (d1)
range play
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #363,325
  • Feb 13, 2014 4:42pm Feb 13, 2014 4:42pm
There is just so much 'signals' for a bearish move here? from chart patterns to indicators to resistance to candlesticks. Technicals couldnt be anymore bearish!!!
All posts are my personal opinion
  • #363,326
  • Feb 13, 2014 4:45pm Feb 13, 2014 4:45pm
Quoting Hickson
The question is just: What happens, if it breaks out of a year's range?! Let the account stop out? I would advice to take a loss while it is still managable. This is just a horrible beast greedy for shorts retailers.
I would just get out before it gets any worse, LEARN FROM THE LOSS, and make plans to do something different next time you risk your money. Let this be a lesson that markets CAN move in a one-way direction for longer than you ever thought. It is not the norm, but it does happen.

Do you realize this could move another 1000 pips in this direction without going any lower than it is right now? Look into the past and you will see 1400 pip moves that had nary a significant pullback. I'm not saying you should buy right now, risk is to high to enter now, but if your holding long there is no reason to sell yet, and definitely no reason to go short yet.
  • #363,327
  • Feb 13, 2014 4:46pm Feb 13, 2014 4:46pm
Quoting Dano12
{image}
So in 3 of your scenarios we're headed to 1.70 and in 1 scenario we're headed below 1.6250 right? Sounds about right. 75% of short retailers LOL. Anyway, for me, this is the reality.
We haven't broken yet on the Welly open, so it's probably going to need some good data which will potentially come as early as next Tuesday london session. In the meantime some people have attempted shorts at 1.666x targetting anywhere from 1.6625 to just below 1.66. All possible if we stall before the data. But a break on one of the data points next week is highly likely, so we reload on any pullback. We are currently at resistance so will not buy here unless it breaks. So moving on to a different pair... NEXT
  • #363,328
  • Feb 13, 2014 4:46pm Feb 13, 2014 4:46pm
Quoting Rtm
There is just so much 'signals' for a bearish move here? from chart patterns to indicators to resistance to candlesticks. Technicals couldnt be anymore bearish!!!{image}
NZDUSD look bearish as shit right now!! That's a trade to enter short right now, guys.
  • #363,329
  • Feb 13, 2014 4:48pm Feb 13, 2014 4:48pm
Quoting Zappa
{quote} I would just get out before it gets any worse, LEARN FROM THE LOSS, and make plans to do something different next time you risk your money. Let this be a lesson that markets CAN move in a one-way direction for longer than you ever thought. It is not the norm, but it does happen. Do you realize this could move another 1000 pips in this direction without going any lower than it is right now? Look into the past and you will see 1400 pip moves that had nary a significant pullback. I'm not saying you should buy right now, risk is to high to enter...
That was exactly what I am saying. I am only trading for some months, but it is even clear to me that this is not a "normal" move. You just have to accept it at some point where you can still trade tomorrow that you made a wrong decision. Well it happens.
Fix up, trade sharp ...
  • #363,330
  • Feb 13, 2014 4:52pm Feb 13, 2014 4:52pm
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  • #363,331
  • Feb 13, 2014 4:55pm Feb 13, 2014 4:55pm
Quoting Rtm
There is just so much 'signals' for a bearish move here? from chart patterns to indicators to resistance to candlesticks. Technicals couldnt be anymore bearish!!!{image}
Weekly chart is not really bearish. Don't know what will happen though.
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When the Joker is in the deck.. fear not and play it well
  • #363,332
  • Feb 13, 2014 4:56pm Feb 13, 2014 4:56pm
Quoting Rtm
There is just so much 'signals' for a bearish move here? from chart patterns to indicators to resistance to candlesticks. Technicals couldnt be anymore bearish!!!{image}
The weekly candlestick coming into this week was a hammer...
  • #363,333
  • Feb 13, 2014 4:58pm Feb 13, 2014 4:58pm
Quoting Zappa
{quote} NZDUSD look bearish as shit right now!! That's a trade to enter short right now, guys.
True but CNY data in a few hours. I might wait.

GL to all.
When the Joker is in the deck.. fear not and play it well
  • #363,334
  • Feb 13, 2014 4:58pm Feb 13, 2014 4:58pm
Quoting Slim Buffett
{quote} Weekly chart is not really bearish. Don't know what will happen though. {image}
Bear flag not bearish? lol
All posts are my personal opinion
  • #363,335
  • Feb 13, 2014 5:12pm Feb 13, 2014 5:12pm
just curious.. the chart wont move.. if stall for to long at this area it will make the possibility to go down make sensible n reasonable.. why ?

just my concern at the psychologycal point of view after all the short retailler need money to withdraw at this weekend n remember this is friday you all who short retailler always need some money? even if you hold buy and doesnt plan to withdraw your money you always need to close your position because if youre not close the position your profit always became your imaginary number on your account..thats why the retrace always happen if the chart stall for long at the high..

so.. just wait n see if stall to long just couple hour from now.. it will going down..

gl for you all
the true currencies here is patience and react precisely
  • #363,336
  • Feb 13, 2014 5:13pm Feb 13, 2014 5:13pm
Quoting Rtm
{quote} Bear flag not bearish? lol
There are always patterns to support your case bull or bear. Its just which ones end up working out and then bulls will say "told ya so"... so sure maybe its a bear flag, maybe its the top of a range... I think its pretty obvious that this has been a power move though and its hard to say the daily charts are bearish at this stage. Next week, who knows?
  • #363,337
  • Feb 13, 2014 5:23pm Feb 13, 2014 5:23pm
Quoting edindzeko
{quote} There are always patterns to support your case bull or bear. Its just which ones end up working out and then bulls will say "told ya so"... so sure maybe its a bear flag, maybe its the top of a range... I think its pretty obvious that this has been a power move though and its hard to say the daily charts are bearish at this stage. Next week, who knows?
Thats always the case isnt it! lol just trying to point out why so many people are short. It has been a powerful move indeed yet what goes up must down.
All posts are my personal opinion
  • #363,338
  • Feb 13, 2014 5:36pm Feb 13, 2014 5:36pm
Quoting Rtm
{quote} Bear flag not bearish? lol
You can try and find whatever theory you like to support your view.
I simply said it didn't look too bearish on weekly.

If you zoom in on that (weekly) chart you can see that it's above its 2 year range
(already) and "looking at" a 3 year high. I don't know if that will happen..
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When the Joker is in the deck.. fear not and play it well
  • #363,339
  • Feb 13, 2014 5:37pm Feb 13, 2014 5:37pm
OMG since i have been o this thread this night is the most i have ever read , every body has an opinion 1 yes we are all right but 2 we are all wrong ? it will not meet the expectations of tecs or of trend lines , the fall or rise will happen in what i will call no mans land this is 75% fib of a move or correction, a place where banks and hedge fund managers bring retail traders with out them knowing where their down fall is,??? and they do this hours before you know . it will look like a green candle up and a red candle down with no wick at the top ,This is only my opinion, my 2pence worth in this crazy game that we play, the most crazy way of trying to make money, all traders here have at one time read , thought, dream t of an easy way of making a shit load of cash by sitting at their pc and trying to predict were their dream should be, the cleaver people get out , but the even cleaver people can make money out of this game , look for the unexpected the gap were you would not sell o buy . but you wont find this only in highnsite will you ever know .
  • #363,340
  • Feb 13, 2014 5:39pm Feb 13, 2014 5:39pm
ps................. it may turn out to be a "double top" and fall like a rock.

It's simply worth considering different options at this time (IMHO)

Regards
When the Joker is in the deck.. fear not and play it well
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