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Cable Update (GBPUSD)

  • #371,281
  • Apr 9, 2014 5:40pm Apr 9, 2014 5:40pm
Quoting albchr
{quote} ....
Thanks friend
Markets can humble anyone.
In trading, you have to be defensive and aggressive at the same time
  • #371,282
  • Apr 9, 2014 6:11pm Apr 9, 2014 6:11pm
Quoting Davit
{quote} Thanks friend Markets can humble anyone.
My pleasure brother.

Been a while since we spoke but I have been lurking. As always, I enjoy and value your posts and charts and I'm happy to see your results. You're doing a great job shorting the longer, overall bull trend here. Our style remains similar and you still do it better than I.

I've always described myself as just a humble carpenter. More humble since I started trading.
Ghost Rider - WWTBMD?
  • #371,283
  • Edited 6:29pm Apr 9, 2014 6:18pm | Edited 6:29pm
Quoting albchr
{quote} My pleasure brother. Been a while since we spoke but I have been lurking. As always, I enjoy and value your posts and charts and I'm happy to see your results. You're doing a great job shorting the longer, overall bull trend here. Our style remains similar and you still do it better than I.
Looks bloody Bull.It also looks too easy !What can be more obvious then Feds saying they wont raise IR for foreseeable future. They said that before as well criteria was unemployment below 6.5.Nothing significant has changed.Now market makers know how to take folks to slaughterhouse.Get them all in Bull bandwagon then bang sent it 200-300pip retrace.
We already seen it many times already recent fall from 68 as example.
on EU price stalled exactly on 61.8fib

Regards
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.daily.png Size: 48 KB
In trading, you have to be defensive and aggressive at the same time
  • #371,284
  • Apr 9, 2014 6:30pm Apr 9, 2014 6:30pm
Quoting Davit
{quote} Looks bloody Bull.It also looks too easy !What can be more obvious then Feds saying they wont raise IR for foreseeable future. They said that before as well criteria was unemployment below 6.5.Nothing significant has changed.Now market makers know how to take folks to slaughterhouse.Get them all in Bull bandwagon then bang sent it 200-300pip retrace. We already seen it many times already recent fall from 68 as example. Regards
I agree. No question on the monthly/yearly "position trade" scope it's bull. But you know me, I don't really look too hard at such long term. I don't see trends as much as ranges happening at different levels. A small account kind of forces that view so I play the ranges. Me and my humble account have been waiting for another touch of 6820ish (perhaps higher) for possible shorts. Took a few pips on the way up but closed WAY too soon for any real win...

I'll forgive myself as it's been over a year since I pulled the trigger.
Ghost Rider - WWTBMD?
  • #371,285
  • Edited 6:48pm Apr 9, 2014 6:36pm | Edited 6:48pm
FWIW..... the recent developments from G/U and consistent bidding is very reminiscent of initial qe style relentlessness...my guess 1.73...i.e. the trade is rigged....Im off GU for a bit same with EU because its only term will be about 500 pips north (IMHO) but when / if it dumps.....could be quite serious.....
  • #371,286
  • Apr 9, 2014 6:50pm Apr 9, 2014 6:50pm
Quoting needpips
FWIW..... the recent developments from G/U and consistent bidding is very reminiscent of initial qe style relentlessness...my guess 1.73
In the overall scheme I agree that's entirely possible sir. 1.73215 is 50% of the fall from the 2007 high. We all know how cable loves the 50% so in the "big" picture that's a good shot. PA would suggest it's at least trying.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdmonthly.png Size: 56 KB
Ghost Rider - WWTBMD?
  • #371,287
  • Apr 9, 2014 7:04pm Apr 9, 2014 7:04pm
Quoting Davit
{quote} Looks bloody Bull.It also looks too easy !What can be more obvious then Feds saying they wont raise IR for foreseeable future. They said that before as well criteria was unemployment below 6.5.Nothing significant has changed.Now market makers know how to take folks to slaughterhouse.Get them all in Bull bandwagon then bang sent it 200-300pip retrace. We already seen it many times already recent fall from 68 as example. on EU price stalled exactly on 61.8fib Regards {image}
Agree with you Davit, ....
  • #371,288
  • Apr 9, 2014 7:22pm Apr 9, 2014 7:22pm
keeps pushing higher and higher without any down days. 1.68 all time closing high soon.

theres no real value in gbp, no rate rises for over 12 months, and massive premium getting more bloated by the day
  • #371,289
  • Apr 9, 2014 8:17pm Apr 9, 2014 8:17pm
I am very cautious until the weekly is clearly broken. Until then, I think it is more bound to range, so one can play buys or sells. Curious though watching cable rise during the asian session. Whowoudlathunk a few days ago, lol.
  • #371,290
  • Apr 9, 2014 8:26pm Apr 9, 2014 8:26pm
Quoting nonlinear
I am very cautious until the weekly is clearly broken. Until then, I think it is more bound to range, so one can play buys or sells. Curious though watching cable rise during the asian session. Whowoudlathunk a few days ago, lol.
I find for majority of times Asia continued whatever happens in NY session in short one can't expect counter moves from Asia.
Furthermore Bull Asia does not mean Bull London.Brits can simply take advantage of high bloated prices and slam it down hard.
In trading, you have to be defensive and aggressive at the same time
  • #371,291
  • Apr 9, 2014 8:34pm Apr 9, 2014 8:34pm
My options account is really liking this movement. Sadly, we are stalling out at a double top at the moment.

Can we please break through this and head to 1.7? For the sake of my options, people!

  • #371,292
  • Apr 9, 2014 8:36pm Apr 9, 2014 8:36pm
Quoting Davit
{quote} I find for majority of times Asia continued whatever happens in NY session in short one can't expect counter moves from Asia. Furthermore Bull Asia does not mean Bull London.Brits can simply take advantage of high bloated prices and slam it down hard.
Rather hoping for that.
Ghost Rider - WWTBMD?
  • #371,293
  • Apr 9, 2014 8:37pm Apr 9, 2014 8:37pm
Quoting albchr
{quote} In the overall scheme I agree that's entirely possible sir. 1.73215 is 50% of the fall from the 2007 high. We all know how cable loves the 50% so in the "big" picture that's a good shot. PA would suggest it's at least trying. {image}
Hi albchr, great to see you brother

Who would have thought we would be up here from 1.48 huh? lol....

I agree, if we take out 6821, we could well be heading to that level.

I'm short daammit, but it's a dangerous business taking the Fed at it's word on some things, while negating their comments as "deceptive" on others.

Trying to mold the feds (apparent) outlook to suit our own, can be fatal.
'
Come with me if you want to live....
  • #371,294
  • Apr 9, 2014 8:46pm Apr 9, 2014 8:46pm
damn shorts got murder this week so far, i just came back and im like wow WTF happen
  • #371,295
  • Apr 9, 2014 8:54pm Apr 9, 2014 8:54pm
Quoting Ill-b-back
{quote} Hi albchr, great to see you brother Who would have thought we would be up here from 1.48 huh? lol.... I agree, if we take out 6821, we could well be heading to that level. I'm short daammit, but it's a dangerous business taking the Fed at it's word on some things, while negating their comments as "deceptive" on others. Trying to mold the feds (apparent) outlook to suit our own, can be fatal. '

IBB ... My brother from another mother How are you sir?

Yep... another range at another level .. I just went short myself @ 6810 with a tight SL @ 6830 (testing the waters) and not "expecting" much but TP is open. I'll cover quickly me thinks

http://www.forexfactory.com/showthre...29#post7395429

Well you know me buddy, I have no view on Funny Mentals. No disrespect to them but I'm a simple guy. I call them funny mentals because when I try to understand them, it drives me Mental and to see it is pretty Funny!
Ghost Rider - WWTBMD?
  • #371,296
  • Apr 9, 2014 8:57pm Apr 9, 2014 8:57pm
Quoting albchr
I just went short myself @ 6810 with a tight SL @ 6830 (testing the waters) and not "expecting" much but TP is open.
exactly the same testing baloon here
big numbers are our friends...
  • #371,297
  • Apr 9, 2014 9:06pm Apr 9, 2014 9:06pm
Quoting deeZG
{quote} exactly the same testing baloon here
Stay on top of it. For me, if it can't clear 6780 in the next 15M or 30M bar I'll likely cut it loose or cover BE if I can. We are lonely bears in a ring full of bulls.
Ghost Rider - WWTBMD?
  • #371,298
  • Apr 9, 2014 9:10pm Apr 9, 2014 9:10pm
Quoting albchr
{quote} IBB ... My brother from another mother How are you sir? Yep... another range at another level .. I just went short myself @ 6810 with a tight SL @ 6830 (testing the waters) and not "expecting" much but TP is open. I'll cover quickly me thinks http://www.forexfactory.com/showthre...29#post7395429 Well you know me buddy, I have no view on Funny Mentals. No disrespect to them but I'm a simple guy. I call them funny mentals because when I try to understand them, it drives me Mental and to see it is pretty...
You want funny mentals brother, head over to the news section for articles covering the ECB and the FED.

While Draghi and co. are boring people to death with the same repeated dialogue on tools at their disposal to soften the Euro, while actually doing nothing, the Fed is flip flopping ADHD style.

I love the follow up of their tapermania with ratemania.

Same time, Same BS channel, Same dialogue, same flip flop, Same outcome.

Oh, I love the media in all this, on face value, it has come straight from the asylum.

Got to go, head to next job, take care my man
need to close today below 6810, or I think I'm fkcd
Come with me if you want to live....
  • #371,299
  • Apr 9, 2014 9:11pm Apr 9, 2014 9:11pm
Quoting PoundTrader
damn shorts got murder this week so far, i just came back and im like wow WTF happen
fkc'n pound
Come with me if you want to live....
  • #371,300
  • Apr 9, 2014 9:11pm Apr 9, 2014 9:11pm
Quoting albchr
{quote} Stay on top of it. For me, if it can't clear 6780 in the next 15M or 30M bar I'll likely cut it loose or cover BE if I can.
yep, same idea.
monitoring closely to touch a few stops around 1.6785 and drag us further down...

Quote
We are lonely bears in a ring full of bulls.

well, someone has to profit in this game
big numbers are our friends...
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