Just my 2 cents worth
Cable Update (GBPUSD)
- #372,943
- Apr 23, 2014 3:43am Apr 23, 2014 3:43am
- Joined Sep 2009 | Status: From Timex to Rolex via Forex | 3,398 Posts
Twitter: MrC_Forex ; Facebook: /pages/MrC-Forex/197693770247397
- #372,944
- Apr 23, 2014 3:49am Apr 23, 2014 3:49am
6831-41 is the resistance area for bulls first, then 6877 and leading up to that...initial up then down to present daily low (61.8% 6773-6838) and up again -all on data reaction. 77% of lots short on trade explorer here - is this a good time to be long lol ? best wishes.
In my personal opinion, it's better go short with a SL anywhere above 1.6843 & a target of 1.6610. Risk reward at this stage looks astonishing...
- #372,945
- Apr 23, 2014 3:52am Apr 23, 2014 3:52am
- Joined May 2009 | Status: Trader | 4,895 Posts
today only seems like 6800 has been tested 2 times... let's break that price today on the third try... come on cable. 
- #372,947
- Apr 23, 2014 4:03am Apr 23, 2014 4:03am
thanks - it was just to illustrate/joke really ....but not sure either I would want to be short based on that CTFC data ...intraday may be mixed in this moment but overall PA is bullish on longer t/f's....maybe you consider that CTFC data is leading indicator and have had more success than not using it.
best wishes.
best wishes.
{quote} No. of trades/positions shown under trade explorer doesn't worth looking if you are trying to compare it with overall trader's positioning in forex market. But, if you are trying to get a little bit of idea then it's worth looking in CFTC positioning which states GBP net long has increased to 51K vs long 46K prior (as per last CFTC data)which means GBP long getting little bit crowded. In my personal opinion, it's better go short with a SL anywhere above 1.6843 & a target of 1.6610. Risk reward at this stage looks astonishing...
it's all gone a bit........
- #372,951
- Apr 23, 2014 4:08am Apr 23, 2014 4:08am
- Joined May 2009 | Status: Trader | 4,895 Posts
added short again 6808 it going to fib ext ??
- #372,953
- Apr 23, 2014 4:13am Apr 23, 2014 4:13am
- Joined Dec 2013 | Status: Trader | 19,815 Posts
if price able to break 6800, i will add to my short at that price..
- #372,956
- Apr 23, 2014 4:16am Apr 23, 2014 4:16am
- Joined Jul 2010 | Status: Always manage your risk & leverage | 7,339 Posts
not euphoria follower
- #372,958
- Apr 23, 2014 4:17am Apr 23, 2014 4:17am
- Joined Jun 2013 | Status: Trader by hobby not by profession | 7,050 Posts
- #372,960
- Apr 23, 2014 4:19am Apr 23, 2014 4:19am
- Joined Jul 2010 | Status: Always manage your risk & leverage | 7,339 Posts
{quote} apa khabar tuan? seems like we are about to enter bearish era.. with just a few days left into May.. what a coincidence..
not euphoria follower