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Cable Update (GBPUSD)

  • #363,501
  • Feb 14, 2014 8:02am Feb 14, 2014 8:02am
Quoting chazzle
{quote} took half off here {image}
closed the other for a couple - 694 may hold, significance of entry signal (pin) diminishing over time ...
  • #363,502
  • Feb 14, 2014 8:07am Feb 14, 2014 8:07am
Quoting elbert3
{quote} in fact i just saw some thing stopped out my long few pips lost clear for now sat here all morning and only lost money
been a little tough here too - lost on an EU trade before - losing day sucks , until you put it in the context of a bigger time horizon - every single trader has losses, even the best...
  • #363,503
  • Feb 14, 2014 8:08am Feb 14, 2014 8:08am
Can any body explain. Is it right time for the retracement? Because 4hrs Rsi at 85 and hourly Rsi is also over bought.
  • #363,504
  • Feb 14, 2014 8:08am Feb 14, 2014 8:08am
losing money is normal, GL
With a good book and quality paper you can fine wipe your ass.
  • #363,505
  • Feb 14, 2014 8:11am Feb 14, 2014 8:11am
Quoting Rizwanullah
Can any body explain. Is it right time for the retracement? Because 4hrs Rsi at 85 and hourly Rsi is also over bought.
NO. People are trapped under 1.6700, it will struggle to dip below there for now. If the hourly pivots rise closer we may see further clarity.
Moves usually end on stops, we haven't seen any of those yet. While there were supposed to be some in the 16680-17720 range, new sellers just replaced the old stops. Just more and more people trying to fade the move. Shame on them.

As always people are extremely comfortable getting stopped out selling into a strong trend than they are buying into it. Apparently it's more embarrassing to have bought the high than to have sold the middle in a huge upmove.
  • #363,506
  • Feb 14, 2014 8:15am Feb 14, 2014 8:15am
Quoting Rizwanullah
Can any body explain. Is it right time for the retracement? Because 4hrs Rsi at 85 and hourly Rsi is also over bought.
sorry but i have to say if we knew that there would be millions of pounds shorting the pound ,sorry
short again 6717
  • #363,507
  • Feb 14, 2014 8:16am Feb 14, 2014 8:16am
Quoting Rizwanullah
Can any body explain. Is it right time for the retracement? Because 4hrs Rsi at 85 and hourly Rsi is also over bought.
market can stay overbought/sold for a long time - personally I don't even look for o/b/s on rsi - just divergence. I've seen others make a strategy using it but it needs other factors to be present
  • #363,508
  • Feb 14, 2014 8:16am Feb 14, 2014 8:16am
Quoting Rizwanullah
Can any body explain. Is it right time for the retracement? Because 4hrs Rsi at 85 and hourly Rsi is also over bought.

Indicators sometimes cheat you.Indicator isn't trustworthy.Cable is overbought.And what happening?Go higher and higher...
  • #363,509
  • Feb 14, 2014 8:17am Feb 14, 2014 8:17am
Quoting eurusd_trade
{quote} NO. People are trapped under 1.6700, it will struggle to dip below there for now. If the hourly pivots rise closer we may see further clarity. Moves usually end on stops, we haven't seen any of those yet. While there were supposed to be some in the 16680-17720 range, new sellers just replaced the old stops. Just more and more people trying to fade the move. Shame on them. As always people are extremely comfortable getting stopped out selling into a strong trend than they are buying into it. Apparently it's more embarrassing to have bought...
It all depends on the price action and whether people STOP OUT or buy into the move. Those who were long at 6650 were eager to close here but those who were short are of course more stubborn.
And plus we have the data next week? What would be the catalyst for a pullback? There is none.
That said, if we print these lower EURGBP stops below 0.8180 that could see some relief.
Suppose EURGBP goes to 8150, at 1.37 in the EU that would imply 1.680x. At 1.3660 in the EU that would imply 1.676x. All significantly higher than where we are now.
You'd better watch out, I have no idea how low EG will go if it breaks the lows today.
  • #363,510
  • Feb 14, 2014 8:18am Feb 14, 2014 8:18am
Dear shorters. Say goodbye to your accounts.
Fix up, trade sharp ...
  • #363,511
  • Feb 14, 2014 8:20am Feb 14, 2014 8:20am
Quoting Suffo
losing money is normal, GL
.. ...
  • #363,512
  • Feb 14, 2014 8:20am Feb 14, 2014 8:20am
buy 1.6713 tp 1.6733
short 1.6733 will close next week (wednesday)
  • #363,513
  • Feb 14, 2014 8:21am Feb 14, 2014 8:21am
im short
With a good book and quality paper you can fine wipe your ass.
  • #363,514
  • Feb 14, 2014 8:22am Feb 14, 2014 8:22am
Dollar weakness across the board not very encouraging to short XXX/USD

I might close G/U short later expecting profit takings on Friday
  • #363,515
  • Feb 14, 2014 8:24am Feb 14, 2014 8:24am
Quoting Ziko9o8
{quote} .. ...
With a good book and quality paper you can fine wipe your ass.
  • #363,516
  • Feb 14, 2014 8:25am Feb 14, 2014 8:25am
Quoting Hickson
Dear shorters. Say goodbye to your accounts.
some people use a sl
  • #363,517
  • Feb 14, 2014 8:26am Feb 14, 2014 8:26am
Just do the math with
EG at 8170 (lucky case)
EG at 8150 (unlucky case)
EU at 13660 (lucky case)
EU at 13700 (unlucky case)
And you'll know what the pain point is if EG breaks the lows which is the current area of focus. It's a lot worse than you think.
I'm not saying it will break today but it's the #1 reason we're not retracing because people are trying. But on light liquidity in holiday markets on Monday?
  • #363,518
  • Feb 14, 2014 8:26am Feb 14, 2014 8:26am
Next Resistance has been broken. The dollar ist dead.
Fix up, trade sharp ...
  • #363,519
  • Feb 14, 2014 8:27am Feb 14, 2014 8:27am
when? i dont feel pain inside
With a good book and quality paper you can fine wipe your ass.
  • #363,520
  • Feb 14, 2014 8:29am Feb 14, 2014 8:29am
Quoting Hickson
Next Resistance has been broken. The dollar ist dead.

Any constructive comment?
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