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Cable Update (GBPUSD)

  • #364,761
  • Feb 19, 2014 8:30am Feb 19, 2014 8:30am
Quoting kimisiow83
{quote} I forgot next hour fundamental. I shouldn't activate my SELL STOP here. Shit, very big mistake. No way, come down please. I wanna exit my SELL, shit man.

Saw the nice RED BEAR now? I almost fall to this STUPID BIG RED BEAR TRAP. Loss 10 pips for the stupid SELL position.

I am not the SMARTEST person in the world, I am the PERSISTENT one.
  • #364,762
  • Feb 19, 2014 8:32am Feb 19, 2014 8:32am
Quoting Davit
{quote} Need Yellen to be upbeat and show some teeth and firmly confirm tapering will continue.
Didnt you noticed that taper has oposite effect on US dollar? Since taper of 10 bln was anounced in december the GU is going up up and up? WTF? why is so? dont you see that? As more it tapers the more GU is going up. I can explain it as market investors feels confidence in US economy and that transfers to the rest of the world and UK too.

Dollar is interesting currency in 2008 financial crysis EURO, POUND, AUSSIE, LOONIE and others ecept YEN crashed dramatically agains the US dollar.
The worse news about USA the stronger US DOLLAR. Its toxic currency cause its rises on radioactive news. The deeper problems the higher dollar
The more recovery the cheaper dollar THINK THAT WAY.
  • #364,763
  • Feb 19, 2014 8:34am Feb 19, 2014 8:34am
Cause on good US news the stocks are rising and there is correlation the higher stocks the cheaper dollar. Thats why trading GU i always look at DOW JONES industrial index. The DOW is the best indicator for US dollar. THE BEST.
  • #364,764
  • Feb 19, 2014 8:37am Feb 19, 2014 8:37am
Been days..hold SELL from 1.6500..hold it.till I.die...inject my account like addiction....still hold til now..and BELIEVE...ONE.DAY THE.REAL DAMN BEAR WILL SHOW UP KICKING THE MIGHTY BULL...!!!
Cheers everyone...no S/L...no T/P...the judgement day shall come...:-)
  • #364,765
  • Feb 19, 2014 8:45am Feb 19, 2014 8:45am
Dong… Dong… Dong… Beware! Beware! Beware! Unstoppable BULL arrive to hit the RED BEAR. New new high arrival soon.
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I am not the SMARTEST person in the world, I am the PERSISTENT one.
  • #364,766
  • Feb 19, 2014 8:45am Feb 19, 2014 8:45am
Quoting tanim
{quote} Me too,eliasahmar, How far will it go down ?Fomc ,& Fridays retail Sell ,most probably will go against gbp.
how far it will go down, no one knows for sure, but let's say if it breaks 6670 then it's going to test 6475 then 6300-6250 area...
for now, let's wait for the FOMC meeting to see how the market is gonna react...
If the cable started to go up then ((don't keep your shorts open if you are playing for a short term pips or use a tight SL)) for me I'm more into long term trading.... so everyone has his own ways and plans
  • #364,767
  • Feb 19, 2014 9:02am Feb 19, 2014 9:02am
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  • #364,768
  • Feb 19, 2014 9:04am Feb 19, 2014 9:04am
Its always amusing to see everyone flip flop between bears and bulls.. I don't have a colorful metaphor.

If you flip flop back and forth.. At the end are you making more then your losing?

I'm just generally speaking. I used to flip flop more then a sloppy hooker. One second I was bears then I'm rooting for the Bulls then.. I'm drinking with the bears.. But, it doesn't pay. All it does is confuses and then you don't know if its bears or bulls market anymore.

I have all my trades in Tradeexplorer and anyone can see.. I've been holding and every so often chip away the profits. This erratic periods do tend to get nerve wracking but if you look at the 4H.. Its not as erratic as we all make it out to be.

I'm just saying.. I know its going to go down regardless of Yellen and Shmellen and anything else.. If you look at the charts.. It does not lie.. This same pattern repeats itself.

To each his own with their trading strategy, but in the long run you can count your profits better when your not rooting for both teams every-time the score favors one over the other.. Instead you watch the whole game.
There are those who know, and there are those who don't know.
  • #364,769
  • Feb 19, 2014 9:09am Feb 19, 2014 9:09am
Quoting palabara
Its always amusing to see everyone flip flop between bears and bulls.. I don't have a colorful metaphor. If you flip flop back and forth.. At the end are you making more then your losing? I'm just generally speaking. I used to flip flop more then a sloppy hooker. One second I was bears then I'm rooting for the Bulls then.. I'm drinking with the bears.. But, it doesn't pay. All it does is confuses and then you don't know if its bears or bulls market anymore. I have all my trades in Tradeexplorer and anyone can see.. I've been holding and every so...
What I do normally is Sell very high drop 100pips Take Profit,wait price goes up sell again Take profit repeat.I did this 4 times last month on GU but this time price overshot my shorts so nothing is in profit and wont add more until some of my shorts are in profit.This has been frustrating bull run.Unusual part is how resistantant Pound is lately.
I agree that one direction makes sense.
In trading, you have to be defensive and aggressive at the same time
  • #364,770
  • Feb 19, 2014 9:10am Feb 19, 2014 9:10am
Something is brewing looking at the current PA...
  • #364,771
  • Feb 19, 2014 9:16am Feb 19, 2014 9:16am
Quoting Davit
{quote} What I do normally is Sell very high drop 100pips Take Profit,wait price goes up sell again Take profit repeat.I did this 4 times last month on GU but this time price overshot my shorts so nothing is in profit and wont add more until some of my shorts are in profit.This has been frustrating bull run.Unusual part is how resistantant Pound is lately. I agree that one direction makes sense.
Don't feel bad, I did the same thing. I tried to pick a top based on my indicator.. It pushed it even higher in fact based on my indicator their hasn't been a push like this since June 2013 where it was massive bear rally.

I overplayed the top.. BUT if the patterns dedicate.. Regardless its going to move back. Just on a purely technical level, looking back at the patterns. I'll put some charts up.. It will happen again. Based on my system a short at the current price is going to be at 1.6650.. It can change, but its still going to happen.
There are those who know, and there are those who don't know.
  • #364,772
  • Feb 19, 2014 9:30am Feb 19, 2014 9:30am
By the way.. I'm not picking on anyone. I speak from experience.. As everyone can see I've been on here since 2005. I started trading in 2002. I'm a pioneer.. I can tell Forex war stories. I did a lot of things that, are bad very bad lol. I'm speaking from my experience to tell people, that it does not work.. Unless your an expert at being able to get in and get out specifically at the right time as rally switch short term.

In the bigger picture it does not work. When you look at your numbers you've got a lot of trades, but not so much pips. The thrill and bliss of gaining a few pips is not as comforting as having to lose whatever profits are made constantly.

Once again not criticizing.. Just sharing life lessons.
There are those who know, and there are those who don't know.
  • #364,773
  • Feb 19, 2014 9:32am Feb 19, 2014 9:32am
Still holding shorts from 1.6735 here but the hourly chart is pretty concerning.... looks like a bullsih flag to me. Anyone have thoughts?
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  • #364,774
  • Feb 19, 2014 9:35am Feb 19, 2014 9:35am
Quoting Citiboy
Still holding shorts from 1.6735 here but the hourly chart is pretty concerning.... looks like a bullsih flag to me. Anyone have thoughts? {image}
Yes, it is slowly but surely climbing. Look at the daily: Its body is forming to engulf the last bearish daily candle. And the Hourly chart looks like a reversal pattern. Then again, the Dollar is weak.
Fix up, trade sharp ...
  • #364,775
  • Feb 19, 2014 9:37am Feb 19, 2014 9:37am
Quoting palabara
By the way.. I'm not picking on anyone. I speak from experience.. As everyone can see I've been on here since 2005. I started trading in 2002. I'm a pioneer.. I can tell Forex war stories. I did a lot of things that, are bad very bad lol. I'm speaking from my experience to tell people, that it does not work.. Unless your an expert at being able to get in and get out specifically at the right time as rally switch short term. In the bigger picture it does not work. When you look at your numbers you've got a lot of trades, but not so much pips. The...
If really you look on 4H, indeed it is repeating. But with your comment to 1.6650, I believe you are too early to say so. Probably if you only look on Channel, Fibo or Trend Line, it will go lower. But with wave analysis, this is ABC move and it is consider complete move now. And now it is actually neutral again and if 1.674x broken, it will be building new higher high. Don't forget, this is only 1st candle after complete move for 4H with such strength of BULL, RED BEAR again? Count me out.
I am not the SMARTEST person in the world, I am the PERSISTENT one.
  • #364,776
  • Feb 19, 2014 9:37am Feb 19, 2014 9:37am
Quoting Citiboy
Still holding shorts from 1.6735 here but the hourly chart is pretty concerning.... looks like a bullsih flag to me. Anyone have thoughts? {image}
I have a thought. see post http://www.forexfactory.com/showthre...31#post7289531
ignore wackos and psychos, including myself. But I can't add myself to iggy
  • #364,777
  • Feb 19, 2014 9:42am Feb 19, 2014 9:42am
Quoting kimisiow83
{quote} If really you look on 4H, indeed it is repeating. But with your comment to 1.6650, I believe you are too early to say so. Probably if you only look on Channel, Fibo or Trend Line, it will go lower. But with wave analysis, this is ABC move and it is consider complete move now. And now it is actually neutral again and if 1.674x broken, it will be building new higher high. Don't forget, this is only 1st candle after complete move for 4H with such strength of BULL, RED BEAR again? Count me out.
Its getting there.. To be honest.. it just seems like there is traps left and right.

This is what I want to do to the pound

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There are those who know, and there are those who don't know.
  • #364,778
  • Feb 19, 2014 9:44am Feb 19, 2014 9:44am
If ever someone notice my post earlier, I have already expect Wednesday might be the deciding day for this pair on which way to go. But if according to 1H and 4H, it is already complete with pullback and correction. I agree what Hickson says, we have only 4 hours left for DAILY close and it is forming to engulf the last BEARISH candle. How about on WEEKLY? Last week, it printed a Morning Doji Star Pattern. To me combining all wave and candle pattern, I believe higher possibilities for the next 2 days it will climb to higher high instead of going on BEARISH side. It might be going down, but very very very low possibilities by now.
I am not the SMARTEST person in the world, I am the PERSISTENT one.
  • #364,779
  • Feb 19, 2014 9:50am Feb 19, 2014 9:50am
Quoting kimisiow83
If ever someone notice my post earlier, I have already expect Wednesday might be the deciding day for this pair on which way to go. But if according to 1H and 4H, it is already complete with pullback and correction. I agree what Hickson says, we have only 4 hours left for DAILY close and it is forming to engulf the last BEARISH candle. How about on WEEKLY? Last week, it printed a Morning Doji Star Pattern. To me combining all wave and candle pattern, I believe higher possibilities for the next 2 days it will climb to higher high instead of going...
To speak more technically, the upmove has lead to an elongated flat without major retracements so far - until this week. The old range of years has been broken and therefore why should there not be more potential for another move upwards? 7,1 % vs. 7 % is not so horrible, and Dollar is really not the stronges currency around at the moment ... Of course, it will come down, the question is just when? I see no reason for this massive tower to just fall apart so easily without any reason. Many guys shorted the pair last week just to find themselves right in front of a margin call or huge loss. I also lost positions shorting because it just kept flying. It is time to be very careful with huge positions on this pair right now.
Fix up, trade sharp ...
  • #364,780
  • Feb 19, 2014 9:52am Feb 19, 2014 9:52am
Quoting palabara
{quote} Its getting there.. To be honest.. it just seems like there is traps left and right. This is what I want to do to the pound
Common someone is got to like this!!! lol

I think the biggest move for the Eur today is going to be seen at 2 PM.. Will see how it reflects on the GBP.. Cause shes going to continue tapering.. Its just common sense.. Then will say joyful things, like things are getting better but at "steady" pace.. And bla bla bla.
There are those who know, and there are those who don't know.
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