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Cable Update (GBPUSD)

  • #363,421
  • Feb 14, 2014 3:41am Feb 14, 2014 3:41am
Quoting NikolasII
I must say it is more entertaining to look at the cable chart now than some Olympic events. If i would not know,what i don't know. I would presume that the Brits are on the roll colonizing the 1/4 of the worlds as they did a few centuries ago. Remember,markets can be irrational more than you think. An upcoming weeks price formation will be interesting indeed.
price formation? price already formed now. Historically from 6740 it get back to 6350 in one week starting history from 2009
so now 6350 then maybe 6900 or even 7000.
  • #363,422
  • Feb 14, 2014 3:46am Feb 14, 2014 3:46am
Will short G/U here. Risk: reward is ok.
Any way If you need any indicator or EA let me know.
  • #363,423
  • Feb 14, 2014 3:48am Feb 14, 2014 3:48am
Quoting Trader88q
{quote} price formation? price already formed now. Historically from 6740 it get back to 6350 in one week starting history from 2009 so now 6350 then maybe 6900 or even 7000.
I base my trades upon weekly charts,a few days will not do me much harm.Just like to see more resistance rather than blindly jump on shorts and get sliced the same week.
  • #363,424
  • Feb 14, 2014 3:49am Feb 14, 2014 3:49am
just had to go long off a signal upto my order i think it just does not want ti give in lol
  • #363,425
  • Feb 14, 2014 3:49am Feb 14, 2014 3:49am
Quoting NikolasII
If i would not know,what i don't know. I would presume that the Brits are on the roll colonizing the 1/4 of the worlds as they did a few centuries ago.
Carney changed IR policy - previously he had a rate rise linked to a fall in unemployment - but that fall came in sooner than expected .... something's up...

He suggested a rate rise when unemployment fell below 7% - forecast for 2016 ... it's already 7.1% ...

http://www.bbc.co.uk/news/business-26147321
  • #363,426
  • Feb 14, 2014 3:49am Feb 14, 2014 3:49am
thank God that I made ​​some money on the AUD-USD yesterday
With a good book and quality paper you can fine wipe your ass.
  • #363,427
  • Feb 14, 2014 3:50am Feb 14, 2014 3:50am
Forgot to add probably waiting for a retest of 6700 (which is happening right now) gives it added oomph...after that its smooth sailing all the way to the downside. very high probability trade with lots of risk to reward ratio.
  • #363,428
  • Feb 14, 2014 3:53am Feb 14, 2014 3:53am
Quoting Davit
{quote} when we have 78% retail short They will push as far they can because its free money collected. I used to be skeptical about this but I have seen evidence market pushing for stops.Remember Christmas holiday time EU got pushed over 100pips for no reason no news nothing then fell once market resumed. This may sound weird and illogical but I am calm knowing once all the stops get cleared this thing will drop in a very fast manner. {image}

kinda agree wit u, but aint nuttin scaring me outta my short till it gets to SL
  • #363,429
  • Edited 4:16am Feb 14, 2014 3:54am | Edited 4:16am
  •  ysab
  • | Joined May 2013 | Status: Love the Prophet of mercy | 33 Posts
Hi Traders,

Check FF, 89% of traders are short.
So most of retail traders are short and the big boys are holding G/U above 1.67

What do you think?
Which side the big boys are?

 

  1. GBP/USD Open Positions

Open Position Statistics
Long Short All Traders
96 237 333
Lots 12.1 101.8 113.9
Avg Entry 1.6616 1.6505 1.6517
Avg Return 2.8% -6.9% -2.1%
Avg Duration 5 days 3 weeks 3 weeks
Winning Trades 152 1 153
Losing Trades 6 931 937

  • #363,430
  • Feb 14, 2014 4:06am Feb 14, 2014 4:06am
Quoting chazzle
{quote} Carney changed IR policy - previously he had a rate rise linked to a fall in unemployment - but that fall came in sooner than expected .... something's up... He suggested a rate rise when unemployment fell below 7% - forecast for 2016 ... it's already 7.1% ... http://www.bbc.co.uk/news/business-26147321
Thanks for the article.To put this in perspective we are 1-2yrs away to IR raise.
Until then we could see several 1.62-1.60-167-68
I still think we are in range.

There is also some truth about Elliot Wave theory of impulse wave.This is clearly a very strong impulse wave.
I also remember when cable was 1.660 last swing high we had same types of calls 1.70-1.74 even 1.80 and then it dropped all the way to 6250
Same with Euro when it went 1.38 lot of calls to 1.40-142.
I learned to block out forum noise....
In trading, you have to be defensive and aggressive at the same time
  • #363,431
  • Feb 14, 2014 4:13am Feb 14, 2014 4:13am
thats enough few pips profit and now its short time a little early it should be quick lets not hang around
  • #363,432
  • Edited 5:02am Feb 14, 2014 4:20am | Edited 5:02am
Quoting maximinus
{quote} Hi Global, Every day, I come in here in quest of your indi and I'm. One can ask me why am I interested on something that is just a few numbers without much explanation on how it's built. The answer is I think that I can learn few things in just observing how the numbers evolve day after day and may find some clues on how to finish building my own indi. Please post it if it's not annoying you. Thanks and GL.
I did post when you asked last time, Maxi...but I didn't see you on the thread
Hear the music before the song is over ...
  • #363,433
  • Feb 14, 2014 4:21am Feb 14, 2014 4:21am
Quoting elbert3
thats enough few pips profit and now its short time a little early it should be quick lets not hang around
changed mind did not sell yet? something dont feel right might have to wait for the order after all
  • #363,434
  • Feb 14, 2014 4:22am Feb 14, 2014 4:22am
When they will start to close they longs? Today is friday. They will? What do you think? There is a lot of longs this week that stands in green color with huge profits. Will they leave that as it stand for the next week? Will they? hmm i think after 2 hours from now we will see or they will close they longs cause its a lunch time in london so they will go for a lunch will open few more longs fak them all
  • #363,435
  • Feb 14, 2014 4:25am Feb 14, 2014 4:25am
its better that bloody market maker will not read those comments. but bloody market makers automatically see all real volumes. CHA ! its so easy to trade. If i would see those real orders open i would knew the future direction. the problem is that they see and we dont.
sometimes when technicals starts to dont work i am feeling that i came to vegas.
  • #363,436
  • Feb 14, 2014 4:27am Feb 14, 2014 4:27am
Some people just don't learn! The forex market is the last place you'll ever want to bring an over inflated ego to cause you'll get crushed in a flash. Im actually having fun reading all the excuses and justifications and would be waiting with bated breath to hear which other story they'll tell when cable hits 1.6750 and also the folktale they'll quote at level 6800
  • #363,437
  • Feb 14, 2014 4:29am Feb 14, 2014 4:29am
trying a long with stop and short to 6730 with a short order at 6691 just in case the thing goes there is a lot of dojis now on the 15 min that means a big candle move soon
  • #363,438
  • Feb 14, 2014 4:32am Feb 14, 2014 4:32am
i would say free ride up but just wait a moment
With a good book and quality paper you can fine wipe your ass.
  • #363,439
  • Feb 14, 2014 4:37am Feb 14, 2014 4:37am
Attached Image (click to enlarge)
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it is waiting to go
  • #363,440
  • Feb 14, 2014 4:45am Feb 14, 2014 4:45am
Why are you guys shorting? I really think this baby is going up to 1.700 during the next few days.
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