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Cable Update (GBPUSD)

  • #366,501
  • Feb 28, 2014 12:54am Feb 28, 2014 12:54am
Quoting chazzle
{quote} GU H4 What I'm thinking: Yesterday and Monday lows, closes on H4 forming an S/R at 630/640 - with measured move of prior swing/parallel oblique as tg {image}
a potentially great trade handled very badly
  • #366,502
  • Feb 28, 2014 12:55am Feb 28, 2014 12:55am
Quoting elbert3
{quote} Morning are you still short, if you dont mind me asking ,
@elbert3:

I am still short intraday but remember, I position trade. I'm still holding my position trade for weeks now.

HDA OUT
  • #366,503
  • Feb 28, 2014 12:56am Feb 28, 2014 12:56am
Still long...

Why fight the momentum? As long as this pair keeps climbing there is no logical reason to short.
  • #366,504
  • Feb 28, 2014 1:01am Feb 28, 2014 1:01am
Quoting HDA
Another attempt is being made to hold the GBP/USD - offers are now at 1.6750 with stops at 1.6775 - lets see what happens if it gets filled. First support is now at 1.6719 HDA OUT

from where You get this numbers....???
I see on 4H chart that levels
1,6820
1,6869...IB200% of this week....for me very important level..but I doubt they may come there, because of daily range...my opinion
1,6820 reachable with this pair...my opinion....no trade advice....but still we hold level..even Italian numbers
  • #366,505
  • Feb 28, 2014 1:02am Feb 28, 2014 1:02am
Quoting Tsar
{quote} WHY... ??? .........{image}
lol...
Come with me if you want to live....
  • #366,506
  • Feb 28, 2014 1:03am Feb 28, 2014 1:03am
i think i will be a gold trader, gbp is so crazy .it has covered the loss on gbp and a good 3 figures in profit and it is still making money,but the pound is being dragged up, if you think the amount of exports , ie cars for one the prospect of buying a range rover for £50k at 1.680 and at 1.600 is £3k which at this time we are exporting shed loads of them , to name but one.or is it that the bank of England can use the the figures to somehow justifies inflation coming down, so that they can raise interest rate, manipulation comes to mind again.
  • #366,507
  • Feb 28, 2014 1:09am Feb 28, 2014 1:09am
The GBP does not belong up here, so get the fuxk back down to 1.55, where you look most comfortable
  • #366,508
  • Feb 28, 2014 1:13am Feb 28, 2014 1:13am
Quoting buylowsellhi
Still long... Why fight the momentum? As long as this pair keeps climbing there is no logical reason to short.
Well it sure looks like a breakout to me.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdh4.png Size: 36 KB
Come with me if you want to live....
  • #366,509
  • Feb 28, 2014 1:14am Feb 28, 2014 1:14am
6600 is the high from what 2014 start. So. What we have got? 6823 is the high.

6823-6600 = 223 pips in 8 weeks is very low number. Ok if its still up trend i see the strong sign that is coming to a finish point.

223 pips think about that. The strength of bull is very weak but they still are trying to figth.
  • #366,510
  • Feb 28, 2014 1:14am Feb 28, 2014 1:14am
Closed GU long from 6650 @ 67350.. profit 85 points
Closed EU long from 3690 @ 3710.. profit 20 points

Now SHORT GU @ 67350 SL 6850 TP 6500


Quoting Tguru
Closed ftse100 @ 6790 with profit of 45 points Closed DJIA @ 16190 with profit of 70 points Still holding long on GU and EU. Placed short order for DJIA at 16220, if it goes there J Yellen is testifying so expect market to tank later. {quote}
Cannot post chart - I Work full time only analysis with trade details :-)
  • #366,511
  • Feb 28, 2014 1:16am Feb 28, 2014 1:16am
Quoting capetown
{quote} from where You get this numbers....??? I see on 4H chart that levels 1,6820 1,6869...IB200% of this week....for me very important level..but I doubt they may come there, because of daily range...my opinion 1,6820 reachable with this pair...my opinion....no trade advice....but still we hold level..even Italian numbers
@capetown:

Lets see what happens - as PayTheLimit would say - Look Sharp, Trade Tight and Ride The PIG

HDA OUT
  • #366,512
  • Feb 28, 2014 1:16am Feb 28, 2014 1:16am
Howzit Cable,

@HDA... keep posting (use a tablet your missus will understand) tell her we asked nicely

OK so Daily candle chart and western tech mixed analysis
Ignoring events and news...

Cable remains in a technical uptrend
50 & 200 sma's both point up #wiseguys look for positions long (remember to go up first we must go down.)
Recent candle signal on the 16th Feb my time line (evening star reversal and red candle with long shadow found support at 1.6614 and some change and signalled long reversal with a harami. This gives a swing high and a new swing low (but its a high low). It looked as if price may want to operate in a channel down, but its broken out to the upside and is breaking through weekly resistance as indicated. From the swing traders point of view PA is now positioned to put in a fresh multiyear high.
Swing high targets remain in line with my prior posts 1.705 two other targets offered above

Despite all calls South it seems that I must capitulate some of my prior bearish sentiment.

Obviously intraday traders your strategies and rules, for longer term, things remain up... No new entries or setups

FTSE bearish

Good luck enjoy!

Dow theory states that the trend is intact until there is incontrovertible evidence it has reversed. I would considered the other side if we break south of 1.61
Attached Image (click to enlarge)
Click to Enlarge Name: GU Daily.png Size: 48 KB
  • #366,513
  • Feb 28, 2014 1:16am Feb 28, 2014 1:16am
Hello thread readers,

1. Daily/Weekly uptrend is still there
2. Support was found at 6583 - a former daily swing high...resistance turns support
3. Price has broken out of the descending trend line on 4hr - upwards
4. Price has broken out of the recent rangyness on 1hr / 4hr - upwards
5. Weekly candle is very likely to close bullishly.

Questions

1. How strong is the resistance leading up to 6823 the previous daily / weekly uptrend high ?

Best Wishes.
it's all gone a bit........
  • #366,514
  • Feb 28, 2014 1:23am Feb 28, 2014 1:23am
Quoting JimmyC
Howzit Cable, @HDA... keep posting (use a tablet your missus will understand) tell her we asked nicely OK so Daily candle chart and western tech mixed analysis Ignoring events and news... Cable remains in a technical uptrend 50 & 200 sma's both point up #wiseguys look for positions long (remember to go up first we must go down.) Recent candle signal on the 16th Feb my time line (evening star reversal and red candle with long shadow found support at 1.6614 and some change and signalled long reversal with a harami. This gives...
@JimmyC:

I got permission to post until today from yesterday. I can't win that battle with her.

I cant use a tablet - I have to use all 12 screens.

HDA OUT
  • #366,515
  • Feb 28, 2014 1:26am Feb 28, 2014 1:26am
Quoting HDA
{quote} @elbert3: I am still short intraday but remember, I position trade. I'm still holding my position trade for weeks now. HDA OUT
Intra day is not the same as position trade right?

ate you saying you are short intraday and long position trade?
  • #366,516
  • Feb 28, 2014 1:26am Feb 28, 2014 1:26am
Quoting Trader88q
6600 is the high from what 2014 start. So. What we have got? 6823 is the high. 6823-6600 = 223 pips in 8 weeks is very low number. Ok if its still up trend i see the strong sign that is coming to a finish point. 223 pips think about that. The strength of bull is very weak but they still are trying to figth.
Or Consolidation at 38.2 fib/resistance

then northern break for continuation....?

Look at those weekly tops we blasted through the other week.

If I get a signal to short, I'll flick the switch,
but considering monthly /Weekly PA
and the 4hr/daily 2week congestion we seem to have broken north of, it smells of something else to me.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpusdmonthly.png Size: 32 KB
Click to Enlarge Name: gbpusdweekly.png Size: 31 KB
Click to Enlarge Name: gbpusddaily.png Size: 28 KB
Come with me if you want to live....
  • #366,517
  • Feb 28, 2014 1:27am Feb 28, 2014 1:27am
i think if any where 6715 ,i will look to sell my short and see if it goes long from there 16725 looks like it could be on the cards,
  • #366,518
  • Feb 28, 2014 1:36am Feb 28, 2014 1:36am
Quoting trexy123
{quote} Intra day is not the same as position trade right? ate you saying you are short intraday and long position trade?
@trexy123:

Intraday is not the same as position trading. I am short intraday but long in my position trade on both the GBP/USD and GBP/CAD.

I will look to exit my position trade on the GBP/USD at 1.7000 and GBP/CAD at 1.9000

Intraday, I'm just trying to grab a few pips while I'm holding my position trade. So you have one account for intraday trading when you see opportunities to make some trades and you have the time to do so and then another account for position trading that you hold for weeks.

HDA OUT
  • #366,519
  • Feb 28, 2014 1:39am Feb 28, 2014 1:39am
Quoting HDA
{quote} @trexy123: Intraday is not the same as position trading. I am short intraday but long in my position trade on both the GBP/USD and GBP/CAD. I will look to exit my position trade GBP/USD at 1.7000 and GBP/CAD at 1.9000 Intraday, I'm just trying to grab a few pips while I'm holding my position trade. So you have one account for intraday trading when you see opportunities to make some trades and you have the time to do so and then another account for position trading that you hold for weeks. HDA OUT
I think you've meant short in your position trade...
.
  • #366,520
  • Feb 28, 2014 1:39am Feb 28, 2014 1:39am
perhaps some support near the 6685/95 area, might look for some cheap longs...
Look Sharp/Trade Tight
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