Attachments: Cable Update (GBPUSD)

Cable Update (GBPUSD)

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#370,021
Apr 2, 2014 8:30am Apr 2, 2014 8:30am

ruffryders
| Commercial User | Joined Jan 2011 | 4,044 Posts

Quoting A-speculator

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{quote} what i mean by different beast is GJ is a synthetic pair, meaning more complicated and very much differs to trade than to trade majors..

Ignored

agreed

#370,022
Apr 2, 2014 8:42am Apr 2, 2014 8:42am

elbert3
Joined Dec 2013 | Status: Trader | 19,815 Posts

Quoting ruffryders

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{quote} agreed

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i will agree with that sold quite a bit over the weeks but out of the trade since thursday gone waiting for it to rise, for me the 4 hour 14 and 25 mas bare breached but not turning up yet , i will wait a little longer, not worth waiting a week to blow the entry , looks like gunz could be on the move up too ?

#370,023
Apr 2, 2014 8:43am Apr 2, 2014 8:43am

A-speculator
Joined May 2009 | Status: Trader | 4,895 Posts

Quoting ruffryders

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{quote} 90% agree on GJ, no direct strong correlation. Still GJ in an uptrend does provide support to the prices. Gold also entered nice demand zone, should be a positive sign too (72% corr GU last 3 months).

Ignored

it's nice to see that you made comparative analysis to trade cable.. there are actually 4 things for you to consider. perhaps you already know this, pardon me if that is the case...

1) how strong is the GBP
2) how strong is the USD

both of these can be seen through relevant pairs throughout the board. the main idea is just to get grasp on how the market see the strength for both instruments.

3) price - the relevant entity for you to consider also known as your entry price; not knowing this entity often lead to chasing the price (entering by market price) which then turn into huge drawdown
4) timing - when you want to enter the market; enter too soon you will be trap in the whipsaw..

so, as of now, technical part of trading still doesn't says anything yet about the downmove but has everything to say about the resistance. trading is more on statistics, so in daily, we have already made a down move, not strong enough but i think it's relevant since the move also made a lower high, not to mention exhaustion pattern in daily as price approach the resistance/the breakout pullback price.

since i'm more in trading the 4h, i need to see the momentum first / rejection of the resistance and will enter on the pullback..

if you ask me now, the most probability / best price is at about the 665x region with SL at 667x region which is just above the last 4h candle high..

#370,024
Apr 2, 2014 8:44am Apr 2, 2014 8:44am

ruffryders
| Commercial User | Joined Jan 2011 | 4,044 Posts

spectral cycles analysis also point to 6780 supply zone on h1.

see below.

6780 is not my final target, looking for 6800-6900 end of this month.

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#370,025
Edited 9:22am Apr 2, 2014 9:11am | Edited 9:22am

Davit
Joined Feb 2012 | Status: Trader | 21,377 Posts

Hi HDA and others
Closed all my NU shorts at 8562 11% gain on equity.Happy that I exceeded my April target already and I am just beginning April

Building shorts on GU
2x at 6637 will add more later.

Regards

In trading, you have to be defensive and aggressive at the same time

#370,026
Apr 2, 2014 9:37am Apr 2, 2014 9:37am

HDA
Joined Oct 2008 | Status: CANCELLED MEMBERSHIP | 3,116 Posts

Quoting Davit

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Hi HDA and others Closed all my NU shorts at 8562 11% gain on equity.Happy that I exceeded my April target already and I am just beginning April Building shorts on GU 2x at 6637 will add more later. Regards

Ignored

@Davit:

Congratulations again

I see you are wearing your profit smiley

NO HINDSIGHT TRADING - I like that

Quoting Davit

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Thanks HDA for welcoming me back. I have no positions on GU (closed recent shorts in profit) but plenty of shorts on NU starting from 8690 down Target 8580 or 8530 either will yield 15-25% equity gain. Great observations.Regards

Ignored

Quoting HDA

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{quote} @Davit: Excellent entry on the NZD/USD and your exit target is also perfect - I would put a trailing stop at 0.8600 once price action goes below that level, because possibly, good support is at 0.8580 and I like to get out before the actual support. I am not trading that pair however. Just a thought HDA OUT

Ignored

Please see post Monday, March 31, 2014,
http://www.forexfactory.com/showthre...37#post7373937

HDA OUT

#370,027
Apr 2, 2014 9:42am Apr 2, 2014 9:42am

Davit
Joined Feb 2012 | Status: Trader | 21,377 Posts

Quoting HDA

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{quote} @Davit: Congratulations again I see you are wearing your profit smiley NO HINDSIGHT TRADING - I like that {quote} {quote} Please see post Monday, March 31, 2014, http://www.forexfactory.com/showthre...37#post7373937 HDA OUT

Ignored

Hi HDA
Man you are so good of keeping track of posts

If NU bounces to 86 I suggest sell with vengeance.Recent Dairy price crush is not looking good for NZ economy.
Looking for a bounce to reenter shorts
Regards bro

In trading, you have to be defensive and aggressive at the same time

#370,028
Apr 2, 2014 9:54am Apr 2, 2014 9:54am

HDA
Joined Oct 2008 | Status: CANCELLED MEMBERSHIP | 3,116 Posts

Quoting Davit

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{quote} Hi HDA Man you are so good of keeping track of posts If NU bounces to 86 I suggest sell with vengeance.Recent Dairy price crush is not looking good for NZ economy. Looking for a bounce to reenter shorts Regards bro

Ignored

@Davit:

There's a secret to it

but i'm not telling

Keep up the good work

HDA OUT

#370,029
Apr 2, 2014 9:56am Apr 2, 2014 9:56am

A-speculator
Joined May 2009 | Status: Trader | 4,895 Posts

Quoting Davit

Disliked

{quote} Hi HDA Man you are so good of keeping track of posts If NU bounces to 86 I suggest sell with vengeance.Recent Dairy price crush is not looking good for NZ economy. Looking for a bounce to reenter shorts Regards bro

Ignored

well mate, i think you can short the aussie, can't you? seems like ok to me to short..

#370,030
Apr 2, 2014 10:02am Apr 2, 2014 10:02am

HDA
Joined Oct 2008 | Status: CANCELLED MEMBERSHIP | 3,116 Posts

Quoting TauTrader

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{quote} Good day to you, Sir Such a gentleman. Thank you for taking the time. I'm battling with my internet at present.. I believe a possible short on GU ( 30 min) would be good. Thank you for your wishes. Longer term trading is better on the nerves. Agreed. Best of luck on your trades! Take care and regards to the wife All the best {image}

Ignored

@TauTrader:

Thank you and I will let her know. If I could only get her interested in trading, then I could live on FF (Forex Factory)

HDA OUT

#370,031
Apr 2, 2014 10:06am Apr 2, 2014 10:06am

nonlinear
Joined Sep 2007 | Status: simmer down now | 1,251 Posts

Here is what I am looking at on the daily.

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#370,032
Apr 2, 2014 10:09am Apr 2, 2014 10:09am

Davit
Joined Feb 2012 | Status: Trader | 21,377 Posts

Quoting A-speculator

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{quote} well mate, i think you can short the aussie, can't you? seems like ok to me to short..

Ignored

Hi friend
Aussie is showing enormous support which suggests me there is considerable corporate money keeping it going higher.
I just prefer shorting NU which is lot more vulnerable and overbought.Support is holding up on 9225-40 zone.
Regards

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In trading, you have to be defensive and aggressive at the same time

#370,033
Apr 2, 2014 10:10am Apr 2, 2014 10:10am

Davit
Joined Feb 2012 | Status: Trader | 21,377 Posts

Quoting HDA

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{quote} @Davit: There's a secret to it but i'm not telling Keep up the good work HDA OUT

Ignored

Thanks friend
I am feeling great.April is shaping up nicely.

In trading, you have to be defensive and aggressive at the same time

#370,034
Apr 2, 2014 10:10am Apr 2, 2014 10:10am

HDA
Joined Oct 2008 | Status: CANCELLED MEMBERSHIP | 3,116 Posts

Quoting ruffryders

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GU options levels update for today {image}

Ignored

@ruffryders:

There were no 10am Eastern Options Expiry for GBP/USD for today, Wednesday, April 2, 2014

HDA OUT

#370,035
Apr 2, 2014 10:15am Apr 2, 2014 10:15am

A-speculator
Joined May 2009 | Status: Trader | 4,895 Posts

Quoting Davit

Disliked

{quote} Hi friend Aussie is showing enormous support which suggests me there is considerable corporate money keeping it going higher. I just prefer shorting NU which is lot more vulnerable and overbought.Support is holding up on 9225-40 zone. Regards {image}

Ignored

i think that long tailed shooting star shows a possible change of trend mate.. not to mention price already reached 50% retracement area from it's down move from oct 2013 - jan 2014.. and exhaustion as price reach the 50%.

i see it has high probability to trend back to it's main trend, which is down wards.. anyway, if the trade is taken from 4h point of view, by entry at about 924x price area and SL at about 928x area seems to me not very high risk taking the trade

anyway, that's just my 2 cents mate..

#370,036
Apr 2, 2014 10:20am Apr 2, 2014 10:20am

Davit
Joined Feb 2012 | Status: Trader | 21,377 Posts

Quoting A-speculator

Disliked

{quote} i think that long tailed shooting star shows a possible change of trend mate.. not to mention price already reached 50% retracement area from it's down move from oct 2013 - jan 2014.. and exhaustion as price reach the 50%. i see it has high probability to trend back to it's main trend, which is down wards.. anyway, if the trade is taken from 4h point of view, by entry at about 924x price area and SL at about 928x area seems to me not very high risk taking the trade anyway, that's just my 2 cents mate..

Ignored

I must see evidence of that 1st.Even though I am almost 90% counter trader I still like to see weakness before plunging in.
I just accept the fact that trends do change.What was downtrend could be new uptrend.
Break of 92 would be convincing.
REgards

In trading, you have to be defensive and aggressive at the same time

#370,037
Apr 2, 2014 10:21am Apr 2, 2014 10:21am

godim
Joined Aug 2011 | Status: Trader | 4,005 Posts

eur/usd H4

normal move target 3755. maybe?

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"You have to BE before you can DO, and DO before you can HAVE." Zig Ziglar

#370,038
Apr 2, 2014 10:24am Apr 2, 2014 10:24am

A-speculator
Joined May 2009 | Status: Trader | 4,895 Posts

Quoting Davit

Disliked

{quote} I must see evidence of that 1st.Even though I am almost 90% counter trader I still like to see weakness before plunging in. I just accept the fact that trends do change.What was downtrend could be new uptrend. REgards

Ignored

the downtrend is not old news mate, check your weekly, price made lower lows and lower highs.. i'm thinking the the uptrend is the correction not the other way round.. at least for mid-term..

#370,039
Apr 2, 2014 10:28am Apr 2, 2014 10:28am