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Cable Update (GBPUSD)

  • #364,261
  • Feb 17, 2014 3:59pm Feb 17, 2014 3:59pm
on weekly strong confluence
127.2 fib ext at 68 .Harmonically very strong number for reversals.I believe despite of lot of hype, numbers may come out less then expected and we may not see 68 again... EU has not moved a dent.... 1.70 GU=139-40 EU Not seeing it at least for this drive.
Attached Image (click to enlarge)
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In trading, you have to be defensive and aggressive at the same time
  • #364,262
  • Feb 17, 2014 4:03pm Feb 17, 2014 4:03pm
Someone got slaughtered on gbpusd and eurusd today, ouch.
  • #364,263
  • Feb 17, 2014 4:20pm Feb 17, 2014 4:20pm
Quoting JimmyC
Right last post for the PM GU 4H The close of the 4H candle now gives us an Advance Block bullish Time to switch strategy for long entries? {image} GU Daily Evening Star and rejection candle confirmation Higher probability continued bearish action... tomorrow {image}
of course way down to the descending wedge line and below
  • #364,264
  • Feb 17, 2014 4:27pm Feb 17, 2014 4:27pm
I think we will be seeing a correction back down to at least 1.64 or .65 and possibly down to 1.62. I think this will be a sizable multi-week correction. After that, if fundamentals remain similar to what they are now I would expect another run at 1.70.

1.68 IMO is just to clear a line in the sand on the technical forecasting side to cross without some extreme fundamental catalyst to push it through.

I did not personally trade today though, I expected some volatility and combined with a US bank holiday I just didn't see the opportunity I wanted. I might/probably will try to get into something during the upcoming London session I think the GBP pairs have great profit potential right now.
  • #364,265
  • Feb 17, 2014 4:43pm Feb 17, 2014 4:43pm
will be looking to short EU if it gets 38 and higher
Opportunity to massacre the pig on the wings of Sterling.
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Click to Enlarge Name: eurusd.daily.png Size: 40 KB
In trading, you have to be defensive and aggressive at the same time
  • #364,266
  • Feb 17, 2014 4:44pm Feb 17, 2014 4:44pm
U know trully saying dont you feel that the WW3 is not so far? I feel that. Its coming maybe i am crazy but the dramatic events are coming in this world...
  • #364,267
  • Feb 17, 2014 4:46pm Feb 17, 2014 4:46pm
Quoting Andros
Price will go up at least a hundred pip more before it goes bearish {image}
Are you a she or a he or
  • #364,268
  • Feb 17, 2014 4:53pm Feb 17, 2014 4:53pm
Quoting Ken A
{quote} Are you a she or a he or

Zack sounds like a dude.

Catarina sounds like a gal.

I'm going with, it doesn't matter.
  • #364,269
  • Edited 5:18pm Feb 17, 2014 5:06pm | Edited 5:18pm
Quoting Baggi
{quote} Zack sounds like a dude. Catarina sounds like a gal. I'm going with, it doesn't matter.
Unfortunately she subscribed to the Israeli guy who has been losing consistently but not only losing but throwing theatrical exclamations like

" I am going to die" "My account is busted" severe emotional instability.
I just hope she realizes the wisdom of keeping folks like that away.

"fter that the gbp delete my account - it goes way down - I just want to die noooooow that I see it that 10 pips delete my account"

"fxcm earned on my account more than $ 20,000 and I lost all my money and all my life"

"I lost the My Account - I'm going to die soon"

I tried to help the guy.Send him reading material.Tips etc.But nothing just classical loser.Even worse when kept bringing God into it.

"I leave everything open - I hope that God will be with me and it fell another 20 pips"
yosi408
In trading, you have to be defensive and aggressive at the same time
  • #364,270
  • Edited 5:51pm Feb 17, 2014 5:38pm | Edited 5:51pm
Quoting Davit
{quote} Unfortunately she subscribed to the Israeli guy who has been losing consistently but not only losing but throwing theatrical exclamations like " I am going to die" "My account is busted" severe emotional instability. I just hope she realizes the wisdom of keeping folks like that away. "fter that the gbp delete my account - it goes way down - I just want to die noooooow that I see it that 10 pips delete my account" "fxcm earned on my account more than $ 20,000 and I lost all my money and all my life" "I lost the My Account - I'm going to...
I hear you, I did the same thing! Its sad but his posts made me laugh- genuinely laugh, as sick as that is.
All posts are my personal opinion
  • #364,271
  • Feb 17, 2014 5:39pm Feb 17, 2014 5:39pm
GBP bulls have definitely exited the market awaiting CPI news !!
All posts are my personal opinion
  • #364,272
  • Feb 17, 2014 6:00pm Feb 17, 2014 6:00pm
Someone said on here, if someone would have listened to all the people on this forum.. Would be all in the poor house. Each one of us has a different system -- Risk tolerance.

Personally, I'm a swing trader.. I'll hold my positions for a while, if need be. My style would not work with someone who just wants to grab some pips.

Problem is, people here are all trying to follow someone whom they see profitable or successful.. Without realizing if that style meets their own.

So to anyone who is reading this or cares.. Being successful is not about following someone else. It's learning for yourself, to think and act on your own actions. People here share ideas, but that's all it should be is.. Idea sharing.

I gave my words of wisdom.. I'll be in my office.
Attached Image
There are those who know, and there are those who don't know.
  • #364,273
  • Feb 17, 2014 6:04pm Feb 17, 2014 6:04pm
Quoting GDR3k
{quote} Indeed, a lot of gbp pairs have increased in volatility recently and they're mostly all I trade now, I haven't been near eurusd in months, the PA on that pair is a mess
Yep, left Euro alone also, although never traded it regularly anyway.
Come with me if you want to live....
  • #364,274
  • Feb 17, 2014 6:12pm Feb 17, 2014 6:12pm
Quoting palabara
Someone said on here, if someone would have listened to all the people on this forum.. Would be all in the poor house. Each one of us has a different system -- Risk tolerance. Personally, I'm a swing trader.. I'll hold my positions for a while, if need be. My style would not work with someone who just wants to grab some pips. Problem is, people here are all trying to follow someone whom they see profitable or successful.. Without realizing if that style meets their own. So to anyone who is reading this or cares.. Being successful is not about following...
You're right palabara,
we can't success with only follow someone strategy/prediction
BTW, is that pricture your office?
  • #364,275
  • Feb 17, 2014 6:22pm Feb 17, 2014 6:22pm
Quoting zoolc
{quote} You're right palabara, we can't success with only follow someone strategy/prediction BTW, is that pricture your office?
Thanks for finding some merit in my seance zoolc

No, even though that toilet looks better then my chair.. I've had my chair for over 10 years.. It's over due to be replaced.

The analogy is amusing though.
There are those who know, and there are those who don't know.
  • #364,276
  • Feb 17, 2014 6:28pm Feb 17, 2014 6:28pm
Quoting palabara
Someone said on here, if someone would have listened to all the people on this forum.. Would be all in the poor house. Each one of us has a different system -- Risk tolerance. Personally, I'm a swing trader.. I'll hold my positions for a while, if need be. My style would not work with someone who just wants to grab some pips. Problem is, people here are all trying to follow someone whom they see profitable or successful.. Without realizing if that style meets their own. So to anyone who is reading this or cares.. Being successful is not about following...
Very true and also true when you are ready to jump on next stage of your development it could be a phrase,word from a book,small insight that opens huge avalanche of ideas.
This is same in painting or music.To learn good painting often one copies others and slowly forms their style and also true within same painting one can see influences going back centuries.
It is often said 1st you learn whatever you can then unlearn what you don't need but to know what you don't need requires knowledge.

Keep a diary and be honest.Here is what I wrote in mine today

"Regretfully failed to be patient on GU despite of proclaiming to adhere crocodile philosophy of waiting right time to strike.Built shorts too many too early effectively sabotaging myself.
Yes I have lot more room to improve specially on waiting part.If I fail to be patient again I will do all house chores for whole month to the delight of my wife.
I sure will try to avoid that"


regards
In trading, you have to be defensive and aggressive at the same time
  • #364,277
  • Feb 17, 2014 6:36pm Feb 17, 2014 6:36pm
Quoting Davit
{quote} Very true and also true when you are ready to jump on next stage of your development it could be a phrase,word from a book,small insight that opens huge avalanche of ideas. This is same in painting or music.To learn good painting often one copies others and slowly forms their style and also true within same painting one can see influences going back centuries. It is often said 1st you learn whatever you can then unlearn what you don't need but to know what you don't need requires knowledge. regards
Your right.

Socrates has taught that we learn from things we already know. If we have a problem presented, we already know how to solve it, we just need to walk our self through the process of identifying things we already know in order to achieve the correct response.
There are those who know, and there are those who don't know.
  • #364,278
  • Feb 17, 2014 7:03pm Feb 17, 2014 7:03pm
I'm really not seeing anything here right now. A part of me wishes I'd held onto my shorts, but then I'd have less profit right now. Another part of me thinks I should find another short position, but not sure where to look.

Hrmmm.....
  • #364,279
  • Feb 17, 2014 7:09pm Feb 17, 2014 7:09pm
Quoting Baggi
I'm really not seeing anything here right now. A part of me wishes I'd held onto my shorts, but then I'd have less profit right now. Another part of me thinks I should find another short position, but not sure where to look. Hrmmm.....
Let G/U settle down first no rush

A/U up > G/A down > G/U being dragged.
  • #364,280
  • Feb 17, 2014 8:29pm Feb 17, 2014 8:29pm
Quoting palabara
Someone said on here, if someone would have listened to all the people on this forum.. Would be all in the poor house. Each one of us has a different system -- Risk tolerance. Personally, I'm a swing trader.. I'll hold my positions for a while, if need be. My style would not work with someone who just wants to grab some pips. Problem is, people here are all trying to follow someone whom they see profitable or successful.. Without realizing if that style meets their own. So to anyone who is reading this or cares.. Being successful is not about following...
I couldnt agree more. By the way, Nice office
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