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Cable Update (GBPUSD)

  • #366,801
  • Mar 3, 2014 11:04am Mar 3, 2014 11:04am
Quoting mvp77
The current crisis is meaningless. Ukraine is meaningless, even Russia. Interestingly, it is only in a few years, if there is such a crisis with China. Then you should be worried, not yet. PEACE !
Its not true, Russia has one of main Naval bases there and with Middle East crisis emerging, its 'good' to have that area under full control.
  • #366,802
  • Mar 3, 2014 11:13am Mar 3, 2014 11:13am
Fuck cable, seriously fuck it. Every time I sell it, rockets up and the only time I bought and left without a stop loss......... it became the titanic.
Everything you want lies on the other side of fear.
  • #366,803
  • Mar 3, 2014 11:15am Mar 3, 2014 11:15am
Quoting Neeraj_Raj
Fuck cable, seriously fuck it. Every time I sell it, rockets up and the only time I bought and left without a stop loss......... it became the titanic.
And thats why my friend you are never EVER leave open orders without SL in place - this is FX for you,

good luck!
  • #366,804
  • Mar 3, 2014 11:19am Mar 3, 2014 11:19am
HAHAHA, there you go folks:

Russian central bank confirms increased involvement on FX market

http://www.reuters.com/article/2014/...me=usDollarRpt
  • #366,805
  • Mar 3, 2014 11:23am Mar 3, 2014 11:23am
Quoting ArekJP
HAHAHA, there you go folks: Russian central bank confirms increased involvement on FX market http://www.reuters.com/article/2014/...me=usDollarRpt
Yeah I saw that. Maybe that's why GB is not tanking as much anymore now that everybody's shorting. Where is George Soros when you need him?
Make your losses in demo. Earn your profits live.
  • #366,806
  • Mar 3, 2014 11:23am Mar 3, 2014 11:23am
Candle study (to pass the time)

$SPX 500 March future.

Given events present and the significant Bull run experienced in the US markets, the rare formation of the hanging man can only be confirmed in 40 minutes but this is a bearish candle formation.

Note the window above, western technicians would prefer the term acceleration gap...

Not everyday you see an index print this more common here in FX world

Chart
Attached Image (click to enlarge)
Click to Enlarge Name: US SPX 500 4H.png Size: 15 KB
  • #366,807
  • Mar 3, 2014 11:24am Mar 3, 2014 11:24am
Quoting Davit
{quote} I might close everything at 65 (if it gets there)and stop trading cable.Don't like this pair. EU Swissy NU is enough for me. I have never experienced such fake 100pip moves on any pair.Just when you think this shit is tanking it takes off like a rocket up again. Entire February was frustrating to me.
Attached Image (click to enlarge)
Click to Enlarge Name: 9.png Size: 109 KB
sorry sent you the wrong file have a look in case of changing you pair regards E
  • #366,808
  • Mar 3, 2014 11:25am Mar 3, 2014 11:25am
Quoting Neeraj_Raj
Fuck cable, seriously fuck it. Every time I sell it, rockets up and the only time I bought and left without a stop loss......... it became the titanic.
In February we saw lots of manipulations massive sells then abrupt massive buys.I think partly is US retail traders to blame.When 75% retail are short you know they are going to take stops.
Cable to me is highly manipulated more so then EU.Best to stay away in my opinion.
Might want to read this
Q&A: What’s Behind the London Foreign Exchange Fix
In trading, you have to be defensive and aggressive at the same time
  • #366,809
  • Mar 3, 2014 11:29am Mar 3, 2014 11:29am
Quoting Davit
{quote} In February we saw lots of manipulations massive sells then abrupt massive buys.I think partly is US retail traders to blame.When 75% retail are short you know they are going to take stops. Cable to me is highly manipulated more so then EU.Best to stay away in my opinion.
And not to mention the higher spread relative to the other majors AND also incurs one of the highest commission. But when it moves, it moves a LOT like today. So bad, I missed it.
Make your losses in demo. Earn your profits live.
  • #366,810
  • Mar 3, 2014 11:31am Mar 3, 2014 11:31am
Nothing impresses your enemy more than the sound of your guns

http://en.ria.ru/military_news/20140...in-Baltic.html
  • #366,811
  • Mar 3, 2014 11:31am Mar 3, 2014 11:31am
Quoting Davit
{quote} In February we saw lots of manipulations massive sells then abrupt massive buys.I think partly is US retail traders to blame.When 75% retail are short you know they are going to take stops. Cable to me is highly manipulated more so then EU.Best to stay away in my opinion.
And I seriously hate all the media build up, first there were floods and everyone was like yeah! gbp is going down and down .... The next thing I know its at the Mount Everest. And then in the last couple of days ... so much being talked about that gbp is not going to stop it will hit .7000 and all that bullshit without any strong base to support it.

Then the market just blowing off any data from US in favor of gbp and now this .

I have no idea what happens tomorrow. No major news on GPB or USD. What side it would choose, go down or up. Normally at this rat it should be between .6660-6580. But can't say anything now. All confidence lost.
Everything you want lies on the other side of fear.
  • #366,812
  • Mar 3, 2014 11:32am Mar 3, 2014 11:32am
Quoting Citiboy
{quote} it will turn at some point, but ive already blown enough cash trying to go long USD. Especially vs EUR and GBP. Think i'm going to wait until we are back below 1.3700 and 1.6600 to get involved. Maybe if anything this Ukraine thing will cut down on the equity inflows to europe and reduce that source of EUR support. US data has been look good the past couple of days but its like the market has completely ignored it.
Well good news doesn't always lead to USDX strength.

Technically, USD and SPX are inverse... so good news in US means SPX rallies and EURUSD rallies, USDX drops.

But I'm not very good with fundamentals anyway. Technically speaking I'm looking to buy at 1.3713 for an intraday/intraweek trade and thats it. We are getting close to areas where we can see real selling pressure in the Euro (1.4050-1.4400).
  • #366,813
  • Mar 3, 2014 11:41am Mar 3, 2014 11:41am
Lies:

Obama: No revival of "Cold War" with Russia over Ukraine, Syria

http://www.reuters.com/video/2099/01...eoId=280181500
  • #366,814
  • Mar 3, 2014 11:43am Mar 3, 2014 11:43am
Quoting Neeraj_Raj
{quote} And I seriously hate all the media build up, first there were floods and everyone was like yeah! gbp is going down and down .... The next thing I know its at the Mount Everest. And then in the last couple of days ... so much being talked about that gbp is not going to stop it will hit .7000 and all that bullshit without any strong base to support it. Then the market just blowing off any data from US in favor of gbp and now this . I have no idea what happens tomorrow. No major news on GPB or USD. What side it would choose, go down or up....
This is WHY I don't have any bias. I don't have any expectation. I don't have any speculation of where it should be by tomorrow. I just go with the flow. Because you never know for sure what it's gonna do in the future. You can have all the ideas of what it should do and where it should be and which level it should reach but if the market doesn't agree with you, you are not going to get any pips. And in FX, it's the pips that count. You can keep in mind of its next support/resistence level as perhaps your SL and TP's but I don't hold the market to it.

Forget about media, those market analysis, forecasts, they are just blah blah blah. I NEVER listen or read them. Unless they have insider information like economics numbers before they are released which they should't have, they don't know anything more than we do. And we are the traders who read the news, study the charts, do our homework and put our money where our mouth is every single day.
Make your losses in demo. Earn your profits live.
  • #366,815
  • Mar 3, 2014 11:44am Mar 3, 2014 11:44am
Man, you got to be nimble at times.
Bear/Bull/Bear...
Come with me if you want to live....
  • #366,816
  • Mar 3, 2014 11:51am Mar 3, 2014 11:51am
Quoting Ill-b-back
Man, you got to be nimble at times. Bear/Bull/Bear...
Attached Image
  • #366,817
  • Mar 3, 2014 11:51am Mar 3, 2014 11:51am
I hope I am not alone in thinking the entire month of February was pretty much crap for trading across all pairs excluding CAD. Feb was a month to be trading gold,oil, silver and coffee.

Anyone else have thoughts? Im guessing certain super disciplined range traders out there did ok.
Twitter: @TrendersGame
  • #366,818
  • Mar 3, 2014 11:52am Mar 3, 2014 11:52am
[quote=Forexia;7316310]{quote} This is WHY I don't have any bias. I don't have any expectation.

I guess that is the best thing to do. Why wait for the perfect time, just go with the flow. And whenever I am sad, I read yesterdays forecasts and laugh at it. If they knew any better they would not be making a living forecasting.
Everything you want lies on the other side of fear.
  • #366,819
  • Mar 3, 2014 11:53am Mar 3, 2014 11:53am
Quoting Citiboy
I hope I am not alone in thinking the entire month of February was pretty much crap for trading across all pairs excluding CAD. Feb was a month to be trading gold,oil, silver and coffee. Anyone else have thoughts? Im guessing certain super disciplined range traders out there did ok.
By okay.. I survived through this crappy month.. made a little bit on CAD.

Yes, February was crap on every pair. Hopefully March will be better.. We need movements down and up and not consolidation to make money.

Surprisingly closed February in the green. It was not good though.
There are those who know, and there are those who don't know.
  • #366,820
  • Mar 3, 2014 11:55am Mar 3, 2014 11:55am
Quoting Citiboy
I hope I am not alone in thinking the entire month of February was pretty much crap for trading across all pairs excluding CAD. Feb was a month to be trading gold,oil, silver and coffee. Anyone else have thoughts? Im guessing certain super disciplined range traders out there did ok.
Jan was such a fine month, and Feb was like may God Save The Queen
Everything you want lies on the other side of fear.
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