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Cable Update (GBPUSD)

  • #363,541
  • Feb 14, 2014 9:14am Feb 14, 2014 9:14am
Man, cable going into beast mode.

Taking a careful short here, targeting 1.6666.
  • #363,542
  • Feb 14, 2014 9:14am Feb 14, 2014 9:14am
Quoting shon9178
what are the US banks doing? are they going to let the brits continue to overvalue their currency?
Think its the other way round. The US wants to undervalue their currency rather than Britain wanting a strong pound.
  • #363,543
  • Feb 14, 2014 9:15am Feb 14, 2014 9:15am
i mean, you can tell right, even a long time respected member like schickeria with GBP shorts gets super emotional on something like this so much that he would decide to ignore me for repeatedly posting warnings against shorting this stuff with a clear rationale. losses breed emotions, it's not a good thing. it has nothing to do with being "super guru".
it just pains me to see so many people take the wrong action over and over again. i was a terrible trader once, making every mistake in the book, and now while i still do many wrong things, i do less, and i want to help others also avoid pissing away money to the HFTs, banks, and hedge funds. and yes the banks make anywhere from $200K - $1mm a day on the automated spot deliverable market making every single day, and that doesn't include options P&L which are multiples higher and voice spot P&L which is somewhat less.
  • #363,544
  • Feb 14, 2014 9:16am Feb 14, 2014 9:16am
buy 732 sl ?
With a good book and quality paper you can fine wipe your ass.
  • #363,545
  • Feb 14, 2014 9:17am Feb 14, 2014 9:17am
Hello GU...

BTW enjoy your weekend and,,,
Attached Image
  • #363,546
  • Feb 14, 2014 9:17am Feb 14, 2014 9:17am
eur looks like its going down i have a short there from yesterday will it have any impact on gb?? looks like i will be getting 1 more short 6744 it the double top on the weekly but like i said i would not let it get to a trend line before making your move that is why i am not stopped out yet gone to manage on the 1 min chart the big boys will look at a place that you dont . only my opinion
  • #363,547
  • Feb 14, 2014 9:17am Feb 14, 2014 9:17am
so any ideas when they will at least consolidate?
  • #363,548
  • Feb 14, 2014 9:19am Feb 14, 2014 9:19am
Quoting shon9178
so any ideas when they will at least consolidate?
I honestly don't know, we kind of stalled at 8180 here in EG and EU is still high which would imply an extremely high GU if EG went to 8150, so maybe that won't happen today. I guarantee nothing though. The risk/reward all throughout next week will be for lower EG if people fear strong GBP data.
  • #363,549
  • Feb 14, 2014 9:19am Feb 14, 2014 9:19am
Quoting shon9178
so any ideas when they will at least consolidate?

are at long term resistance now about 163750
  • #363,550
  • Feb 14, 2014 9:21am Feb 14, 2014 9:21am
Quoting GlobalMacro
Cable now 1.6636 = BUY STOP ENTRY ORDER FILLED @ 1.6635. LONG @ 1.6635 S / L : 1.6567 T / P : OPEN
Raising S/L to 1.6635 and continuing to carry the position.

LONG @ 1.6635

S / L : 1.6635

T / P : OPEN

Cable now 1.6735 Today's High: 1.6737
Open P&L : + 100 pips
Hear the music before the song is over ...
  • #363,551
  • Feb 14, 2014 9:23am Feb 14, 2014 9:23am
anybody know is there a average pip move on the weekly were nearly at 400 pips in 1 candle
  • #363,552
  • Feb 14, 2014 9:23am Feb 14, 2014 9:23am
Quoting Fx-gtg
buy 1.6713 tp 1.6733 short 1.6733 will close next week (wednesday)
closed 1.6733
short 1.6736 . leave open over weekend
  • #363,553
  • Feb 14, 2014 9:26am Feb 14, 2014 9:26am
h
  • #363,554
  • Feb 14, 2014 9:27am Feb 14, 2014 9:27am
Quoting Suffo
buy 732 sl ?
out 739
With a good book and quality paper you can fine wipe your ass.
  • #363,555
  • Feb 14, 2014 9:28am Feb 14, 2014 9:28am
Quoting Fx-gtg
{quote} closed 1.6733 short 1.6736 . leave open over weekend
Hi fx-gtg, can I know how you went short from 1.6736?
There will be a number of BOE announcements next week tue/wed.
Do you think the numbers will fall short to bring down the GBPUSD price?
  • #363,556
  • Feb 14, 2014 9:28am Feb 14, 2014 9:28am
Are you still shorting?
Fix up, trade sharp ...
  • #363,557
  • Feb 14, 2014 9:29am Feb 14, 2014 9:29am
I left my shorts and started buying
  • #363,558
  • Feb 14, 2014 9:30am Feb 14, 2014 9:30am
sell 740 sl 748
With a good book and quality paper you can fine wipe your ass.
  • #363,559
  • Feb 14, 2014 9:32am Feb 14, 2014 9:32am
Quoting Makavell
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
Just cant wait to hear their analysis now
  • #363,560
  • Feb 14, 2014 9:33am Feb 14, 2014 9:33am
I mean I wouldn't be greedy either, we're kind of stalling here at 818x in EG but it could also be a trap with bigger stops untriggered. I don't know. I'm flat. It's total gambling to be trading here. I was short EG down to 8180 now I close. for now. Pick your spots. If you don't know, just get flat, don't try to go for something that may or may not be there. So that's why I'm covering EG shorts. And don't try to go long EG either because you don't know if there are actually still more stops and it's against the fundamental threats next week. Although it's ticking very slow so there may not be (for today). Good luck guys, I think i've said enough and pissed off enough people but also hopefully helped some people avoid losing money. Done for the day.
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