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Cable Update (GBPUSD)

  • #363,461
  • Feb 14, 2014 5:58am Feb 14, 2014 5:58am
Hello everybody ,

can anyone tell me why the GBP is going up that much , is there any logical or technical or fundamental reason , and is it realy going to go up more for no reason .

Thank you all for your replys ...
  • #363,462
  • Feb 14, 2014 6:02am Feb 14, 2014 6:02am
4hr RSI has seen these heights in terms of buyers long time ago, retrace is near
  • #363,463
  • Feb 14, 2014 6:03am Feb 14, 2014 6:03am
Quoting el_duende
{quote} My 2 shorts stopped out at 1.6485 earlier this week. The 16450 area had no bearish reaction as I thought. The failed pin setup was invalid. The Herd sentiment is now approx 80/20 short, a big shift going into short positions. In my view this is the greatest indicator there is, when the herd go short look for longs. Current open long positions at 1.6539 and 1.6602
Closed all my longs just now at 16715. May be a bit early closing but taking the money now and not give in to greed
  • #363,464
  • Feb 14, 2014 6:04am Feb 14, 2014 6:04am
sell 717 sl 748
With a good book and quality paper you can fine wipe your ass.
  • #363,465
  • Feb 14, 2014 6:12am Feb 14, 2014 6:12am
out 711
With a good book and quality paper you can fine wipe your ass.
  • #363,466
  • Feb 14, 2014 6:15am Feb 14, 2014 6:15am
Quoting Suffo
out 711
volatile at this time of the game
  • #363,467
  • Feb 14, 2014 6:15am Feb 14, 2014 6:15am
Occam's razor states that among competing hypotheses, the hypothesis with the fewest assumptions should be selected. Here you have a simple hypothesis of what is happening in Cable since March 2013. Before I thought that it was a rising wedge pattern (which clearly failed for two times), but now it is clearly matching a Pitchfork... so hopefully the bear massacre will end when the price reaches the top part of the Pitchfork. However I wish the bear hunting season ends sooner, since I am a bear (not overleveraged luckily) Anyway, all of us without a stoploss should learn the lesson and write it down on a postit in front of our screen.
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  • #363,468
  • Feb 14, 2014 6:16am Feb 14, 2014 6:16am
buy 712 sl 676
half lots
With a good book and quality paper you can fine wipe your ass.
  • #363,469
  • Feb 14, 2014 6:21am Feb 14, 2014 6:21am
A quick thought for people.

I swapped from my original bear position to bull this week in my trading, I took an initial loss and accepted I was wrong. I swapped to long and made money, I don't care if people poke fun of my initial bearish analysis, because I accept it and move on.

I see earlier someone mentioned leaving the ego at the door before you commence trading. This is so true.

On this thread people seem more bothered about trying to impress strangers with their trading prowess, always needing constant reassurance and aknowledgement for being right than actually trading what the market is telling you.

Being wrong is part of trading, embrace it and use it in a positive way.
  • #363,470
  • Feb 14, 2014 6:22am Feb 14, 2014 6:22am
Quoting poleposition
{quote} price follows the expected path {image}
Finally the price to achieved the desired goal, now can happen anything: for the bulls the next objective are 1.6780. Also the price can make a kick to take momentum. Important the next candle to confirm setting.
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  • #363,471
  • Feb 14, 2014 6:25am Feb 14, 2014 6:25am
Quoting Suffo
buy 712 sl 676 half lots
out 714
With a good book and quality paper you can fine wipe your ass.
  • #363,472
  • Feb 14, 2014 6:26am Feb 14, 2014 6:26am
sell 713 sl 748
half lots
With a good book and quality paper you can fine wipe your ass.
  • #363,473
  • Feb 14, 2014 6:31am Feb 14, 2014 6:31am
GU M15

shorted the pin, let's see
Attached Image (click to enlarge)
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  • #363,474
  • Feb 14, 2014 6:32am Feb 14, 2014 6:32am
Is anyone going to trade gbpcad before/during the news in less than 1 hr?
Good opportunity to buy now as the price is at the PP, in my opinion, anyone has anything in this subject?
  • #363,475
  • Feb 14, 2014 6:34am Feb 14, 2014 6:34am
Quoting el_duende
A quick thought for people. I swapped from my original bear position to bull this week in my trading, I took an initial loss and accepted I was wrong. I swapped to long and made money, I don't care if people poke fun of my initial bearish analysis, because I accept it and move on. I see earlier someone mentioned leaving the ego at the door before you commence trading. This is so true. On this thread people seem more bothered about trying to impress strangers with their trading prowess, always needing constant reassurance and aknowledgement for being...
this is what i wrote last night after a bottle of red wine... any body can let me know, was i pissed or is there a truth in the script



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 .
  • #363,476
  • Feb 14, 2014 6:36am Feb 14, 2014 6:36am
Quoting chazzle
GU M15 shorted the pin, let's see {image}
Watch out for the pin, often want to do see what is not true, to operate a pin it is advisable to wait for the closure of the next candle, if it closes below the end of the pin, the signal is good.
  • #363,477
  • Feb 14, 2014 6:44am Feb 14, 2014 6:44am
Quoting Suffo
sell 713 sl 748 half lots
out 705
With a good book and quality paper you can fine wipe your ass.
  • #363,478
  • Feb 14, 2014 6:46am Feb 14, 2014 6:46am
buy 705 sl 676
half lots
With a good book and quality paper you can fine wipe your ass.
  • #363,479
  • Feb 14, 2014 7:03am Feb 14, 2014 7:03am
Quoting elbert3
{quote} this is what i wrote last night after a bottle of red wine... any body can let me know, was i pissed or is there a truth in the script OMG since i have be......... ,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...
I liked it, elbert. Bold was funny, but true. Most normal folks would take one look at this crazy game and run for the hills. It sure ain't easy, and for that I respect each and every trader on here for even trying. Sometimes we get into heated arguments, but you all have my respect, even Davit.

Have a nice weekend.
  • #363,480
  • Feb 14, 2014 7:05am Feb 14, 2014 7:05am
Quoting poleposition
Watch out for the pin, often want to do see what is not true, to operate a pin it is advisable to wait for the closure of the next candle
GU M15

not sure about that... I often see the wick-mid acting as st s/r
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