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Cable Update (GBPUSD)

  • #363,661
  • Feb 14, 2014 3:34pm Feb 14, 2014 3:34pm
Yeah this massive run up has made no logical sense at all except to trap the bull buyers. I scaled out a small portion of my shorts for a loss today but still heavy short on this. If I could call a top this one would have to be a major top. Usually the end of trends and where prices top out are usually the most violent and irrational which might explain the cycle of this trend we have have in GU. Next week will be my deciding factor on whether I scale out more or hold.
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All posts are my personal opinion
  • #363,662
  • Feb 14, 2014 3:40pm Feb 14, 2014 3:40pm
Quoting Citiboy
{quote} Whats your stop loss?

Not using a SL. Timed it wrong, sized it wrong , and it is levered too much. Even though my position is deep in the red my forecast hasn't changed. I'll probably let it go another 100 pips before I surrender.

In all fairness though my trade explorer is like monopoly money. I have a bet with a friend of mine on who could generate the most returns in a 12 month period. The winner receives the value of both accounts. We started with 500, then raised it to 1500 and finally to $2500. Basically the incentive for me is to win or have 0

I certainly don't trade my main account like this at all. Well I do , but with only 5x leverage.
  • #363,663
  • Feb 14, 2014 3:42pm Feb 14, 2014 3:42pm
Quoting silly_trader
Hi all, I'm a newbie in trading.. So please be kind to my doubt.. Can I expect a 1.7xxx next week or 1.5xxx ?
Good question

which we are all trying to figure out

if we all knew then we would not be trolling the forums for information

I closed all longs,an left a small one running to 1.68

An did a sell to 1.66

Thinking doing a pending short before close

168 to 166

Good thing about pending orders,can be changed.

Enter a few trades in the demo now,an see how they pan out.
  • #363,664
  • Feb 14, 2014 3:43pm Feb 14, 2014 3:43pm
Just read danska bank hit its profit taking 16747 well done gm nice pips,
  • #363,665
  • Feb 14, 2014 3:49pm Feb 14, 2014 3:49pm
Quoting Hickson
{quote} Why not short 50 Lots, no SL, Equity does not matter because stochastics say "overbought"
Wish my account was that huge to short 50 lots, because I'll do it!
I have my own charts and plans to follow...
If you play on the long term 'like me' then you will know that 1.6750 is extremely high level for GU, especially with UK and EU bad economy situation. I don't trade for short term following few pips.. GU is gonna dive soon and get back to its normal levels (no higher than 1.66)
happy trading everyone... just follow your own plan and don't get trapped
  • #363,666
  • Edited 4:29pm Feb 14, 2014 4:15pm | Edited 4:29pm
Going to get in short on this pair at about 6808, let all the suckers get stopped out first and get in where the heavy sell orders are
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  • #363,667
  • Feb 14, 2014 4:25pm Feb 14, 2014 4:25pm
Quoting Kajos2250
Nice daily marobozu for bulls... {image}
First realization zone was reached.
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Anything is math!
  • #363,668
  • Feb 14, 2014 4:44pm Feb 14, 2014 4:44pm
Carney speaking over the weekend, let's see if he can gap us up over the weekend with his new "flexible" forward guidance (Code for a licence to change his tune anytime he wants).

This straight up bull run won't go forever and some relief for the hold 'em bears "may" be coming up soonish.
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Come with me if you want to live....
  • #363,669
  • Feb 14, 2014 4:46pm Feb 14, 2014 4:46pm
Quoting Citiboy
Any takers here? Selling 1.673x, put an SL above 1.6753ish? Fundamentally Carney's shifts in foward guidance were dovish, as the next rate hike is now based on a much broader set of vague indicators. There are three major UK releases next week as well. IF these releases do not confirm the BoE's rationale for massively hiking 2014 gdp projections, GBP will trade lower. {image}
It does not hurt to add a little techi from me.
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ignore wackos and psychos, including myself. But I can't add myself to iggy
  • #363,670
  • Feb 14, 2014 4:48pm Feb 14, 2014 4:48pm
Quoting GDR3k
Going to get in short on this pair at about 6808, let all the suckers get stopped out first and get in where the heavy sell orders are {image}
No, no, apparently this massive run up which has handed the bulls some very sweet returns, has all been a bull trap lol.

The 93% shorters are with the smart money.....
Come with me if you want to live....
  • #363,671
  • Feb 14, 2014 5:03pm Feb 14, 2014 5:03pm
Quoting Ill-b-back
{quote} No, no, apparently this massive run up which has handed the bulls some very sweet returns, has all been a bull trap lol. The 93% shorters are with the smart money.....
That was probably said by someone who went short at 1.63
  • #363,672
  • Feb 14, 2014 5:06pm Feb 14, 2014 5:06pm
Quoting ffleo
{quote} It does not hurt to add a little techi from me. {image} {image}
cable resistance levels,

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ignore wackos and psychos, including myself. But I can't add myself to iggy
  • #363,673
  • Feb 14, 2014 5:13pm Feb 14, 2014 5:13pm
This pair seems to be really aggressive for higher levels. I have a long term road-map ...here ...

http://img838.imageshack.us/img838/2893/acni.png


But for now thre seems to be no obstacle between the price and 1,7330s. This does not mean that we cannot make pips from retracements , but I think bullish opportunities shud have the priority.
Imagination rules the world ...
Selym Hyll Return This Year: na
  • #363,674
  • Feb 14, 2014 5:18pm Feb 14, 2014 5:18pm
Quoting selym_co
This pair seems to be really aggressive for higher levels. I have a long term road-map ...here ... {image} But for now thre seems to be no obstacle between the price and 1,7330s. This does not mean that we cannot make pips from retracements , but I think bullish opportunities shud have the priority.
let it take out 1.7/1.73 first. 1.7 is the main obstacle there.
ignore wackos and psychos, including myself. But I can't add myself to iggy
  • #363,675
  • Feb 14, 2014 5:23pm Feb 14, 2014 5:23pm
Just like in 2008 when the stock market was doomed to crash...
Now that everyone says that the dollar's finished, now that "never ending money printing will send the Greenback to even lower lows"...
...now I think is the time to buy the Dollar. Sure it will never be what it used to be cause Federal debt (in $!) is just too large, but it sure will recover.

Just hope I'll have the guts to be there when it happens!
Be water, my friend
  • #363,676
  • Feb 14, 2014 5:27pm Feb 14, 2014 5:27pm
Quoting ffleo
{quote} let it take out 1.7/1.73 first. 1.7 is the main obstacle there.
You are right , and if we have a retracement next week - which I am expecting to catch - I expect it to be 160 ish pips long , then we must again turn back to north. The weakening USD will boost the bullish rally...
Imagination rules the world ...
Selym Hyll Return This Year: na
  • #363,677
  • Feb 14, 2014 5:36pm Feb 14, 2014 5:36pm
Quoting spocktrader
Just like in 2008 when the stock market was doomed to crash... Now that everyone says that the dollar's finished, now that "never ending money printing will send the Greenback to even lower lows"... ...now I think is the time to buy the Dollar. Sure it will never be what it used to be cause Federal debt (in $!) is just too large, but it sure will recover. Just hope I'll have the guts to be there when it happens!
This is the LFX chart showing USD strength ... The first screenshot was made in january , and the second one is made today ...

I would not be so sure about BUY ing USD ... The enfulging body of the february-candle is worth paying attention too ...

http://img545.imageshack.us/img545/1277/hw2a.png

http://img138.imageshack.us/img138/1239/cobn.png



Imagination rules the world ...
Selym Hyll Return This Year: na
  • #363,678
  • Feb 14, 2014 5:43pm Feb 14, 2014 5:43pm
Weekly Chart looks a bit bullish. If it does not form inside bar on Monday, entering trending area, careful bears...



Weekly chart:


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  • #363,679
  • Feb 14, 2014 5:44pm Feb 14, 2014 5:44pm
Quoting selym_co
{quote} I would not be so sure about BUY ing USD ...
In this world nothing is sure. Except that if we had bought stocks every time nobody wanted them we'd be rich by now
Be water, my friend
  • #363,680
  • Feb 14, 2014 6:00pm Feb 14, 2014 6:00pm
Quoting selym_co
This pair seems to be really aggressive for higher levels. I have a long term road-map ...here ... {image} But for now thre seems to be no obstacle between the price and 1,7330s. This does not mean that we cannot make pips from retracements , but I think bullish opportunities shud have the priority.

Just 1.93?? Come on, are you kidding? Don't be so conservative. This pair is clearly sky rocketing up to 2.618 before February ends, everybody knows that.

I'm sorry about the irony, no offence
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