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Cable Update (GBPUSD)

  • #365,141
  • Feb 21, 2014 2:09am Feb 21, 2014 2:09am
JAN high done and dusted
  • #365,142
  • Feb 21, 2014 2:10am Feb 21, 2014 2:10am
still short but this flag is concerning.... may close some risk out before the news.
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Twitter: @TrendersGame
  • #365,143
  • Feb 21, 2014 2:12am Feb 21, 2014 2:12am
still in the game SL 709
bitches are pushing hard
With a good book and quality paper you can fine wipe your ass.
  • #365,144
  • Feb 21, 2014 2:18am Feb 21, 2014 2:18am
Quoting Davit
{quote} It may spike before news release....
THX
With a good book and quality paper you can fine wipe your ass.
  • #365,145
  • Feb 21, 2014 2:25am Feb 21, 2014 2:25am
Dear biased traders, I am down on my short position - 6,66. Does this have anything to mean?
Fix up, trade sharp ...
  • #365,146
  • Feb 21, 2014 2:31am Feb 21, 2014 2:31am
Quoting Hickson
Dear biased traders, I am down on my short position - 6,66. Does this have anything to mean?
No despite of some here whoring numbers pretending its significance, real truth is support is a zone.This is easy to see.
I would hold on to that number.Give it a time to mature but you should do what you think is best.
I have 15 shorts under that number and I don't flinch.
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In trading, you have to be defensive and aggressive at the same time
  • #365,147
  • Feb 21, 2014 2:32am Feb 21, 2014 2:32am
Quoting Hickson
Dear biased traders, I am down on my short position - 6,66. Does this have anything to mean?
ask yourself - if you're in a position, you also have a bias
  • #365,148
  • Feb 21, 2014 2:32am Feb 21, 2014 2:32am
if we break 685 again i will close all
With a good book and quality paper you can fine wipe your ass.
  • #365,149
  • Feb 21, 2014 2:33am Feb 21, 2014 2:33am
Quoting Davit
{quote} No despite of some here whoring numbers pretending its significance,
who you talking about, Davit? - come on, don't be shy
  • #365,150
  • Feb 21, 2014 2:37am Feb 21, 2014 2:37am
Well, I was actually trying to be funny. The last two weeks have been horribly hard for me. Markets were very tough and hard to foresee moves. Might see crazy and emotional PA in an hour again ...
Fix up, trade sharp ...
  • #365,151
  • Edited 3:09am Feb 21, 2014 2:39am | Edited 3:09am
Quoting chazzle
{quote} who you talking about, Davit? - come on, don't be shy
The simpleton who posts daily pivot as though its God's sent, worse pretending he found the holly grail in trading...
hint the simpleton with yellow marker
Funny part after recommending everyone here to buy if price closes above 6668 then PA drops to 6630. He didn't have the balls to come back and post his loss.
Instead posted Twee about ignore feature thanking how great it is while complaining about my posts.Do you see the moronic aspect of this logic while I am on his ignore list...?
In trading, you have to be defensive and aggressive at the same time
  • #365,152
  • Feb 21, 2014 2:49am Feb 21, 2014 2:49am
Quoting JeremyWS
{quote} Vodafone flows havent even begun yet - best estimates are for majority to flow at the WMR fix next tuesday, but no one knows for sure (this is coming from a few traders at different banks) http://www.vodafone.com/content/inde...ement.yes.html see last paragraph "the exact amount received will depend on the exchange rates obtained in the markets during the week commencing 24 February 2014."
Thanks for the heads up, didn't realize it
  • #365,153
  • Feb 21, 2014 2:52am Feb 21, 2014 2:52am
With the consense of huge drop in UK retail sales in Jan, I think there is good chance that market will be surprised by better than expected figure, hence I think it's worthy to establish long GBPUSD position right now for GBPUSD bullish trend to resume. At least target 1.69.
  • #365,154
  • Feb 21, 2014 2:59am Feb 21, 2014 2:59am
Hello thread readers

Bulls not done yet ? What effect data at 0930am gmt ?

Best Wishes.
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it's all gone a bit........
  • #365,155
  • Feb 21, 2014 3:01am Feb 21, 2014 3:01am
UK retail sales, watch out this one.
  • #365,156
  • Feb 21, 2014 3:02am Feb 21, 2014 3:02am
Quoting Suffo
sell 665 sl 685
out be
With a good book and quality paper you can fine wipe your ass.
  • #365,157
  • Feb 21, 2014 3:03am Feb 21, 2014 3:03am
GBP/USD spent the morning near weekly lows around 1.6645 pressured by series of disappointments, but rebounded to 1.6660 area at the time of writing.

Retail sales may compensate

Despite the weak positioning around 1.6645 lows the pound may have a revenge today if scheduled for release British retail sales will give the reasons to buy the currency. Despite the rise of the unemployment rate in January, the Claimant Count Change was better than expected, and this factor could boost consumer demand more than forecasted. If numbers come out above the expectations, wait for another move higher with initial target at 1.6694 resistance level.

What are today’s key GBP/USD levels?

Today's central pivot point can be found at 1.6660, with support below at 1.6618, 1.6584 and 1.6542, with resistance above at 1.6694, 1.6736, and 1.6770. Hourly Moving Averages are largely bearish, with the 200SMA at 1.6630, and the daily 20EMA bullish at 1.6552. Hourly RSI is neutral at 42.


So basically if after the news it crosses 1.6700 + it might be a good idea to go long and if it doesn't cross 1.6700, then I could short for a few pips until the USD data later in the day. ?? ....
Everything you want lies on the other side of fear.
  • #365,158
  • Feb 21, 2014 3:11am Feb 21, 2014 3:11am
Quoting Suffo
{quote} out be
10min too early
I trade daily weekly charts and I find it peculiar that one can enter a trade and exit in less then 10min.Most cases longer TF your target would of been reached.
Not criticizing your approach but to me if the trade was valid 10min ego then it should of been valid 1hr 4hr later as well.
Question I recommend you ask is this
Has anything fundamentally changed last 15min that your short is no longer valid.If the answer is no then your position should continue unchanged.


Regards
In trading, you have to be defensive and aggressive at the same time
  • #365,159
  • Feb 21, 2014 3:12am Feb 21, 2014 3:12am
BULL might take on revenge to the RED BEAR today. As I expected around 13 hours ago, it will go to 1.663x to create DAILY full candle close. I have seen 1.663x area and rebound from that area, I will no surprise if the Cable boost up this time. Hopefully I can see a break up instead of down.
I am not the SMARTEST person in the world, I am the PERSISTENT one.
  • #365,160
  • Feb 21, 2014 3:13am Feb 21, 2014 3:13am
don't worry i'm still loaded with shorts from yesterday!
With a good book and quality paper you can fine wipe your ass.
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