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Cable Update (GBPUSD)

  • #376,041
  • May 6, 2014 8:17am May 6, 2014 8:17am
Quoting JimmyC
{image} ? {image}
LOL... you thinking "maybe" ... ??? ...
Attached Image
Ghost Rider - WWTBMD?
  • #376,042
  • May 6, 2014 8:17am May 6, 2014 8:17am
Quoting FxMaximus
I do believe that once 1.7000 is hit, the short stops will get hit propelling this pair yet higher. The question is, where to take this puppy SOUTH?
@FxMaximus:

You are correct.

One of the biggest lessons I've learnt in this business is to always control my greed.

So while the market is eyeing 1.7044, i'm getting out at the Options Barrier level 1.7000

In order to get to 1.7044, the market must first take out the Options Barrier at 1.7000

The bulls know stops are up there and once you see the market holding like this, its because of that Options Barrier.

One just has to be patient now to wait for the PUSH.



FINAL THOUGHT AGAIN


Scenario 1
The 2009 High 1.7043 on the GBP/USD if taken out and we get a daily close above 1.70000 (when that time comes) I will be re-entering LONG again to hold for 1.80000 and then 1.90000 and then 2.0000 - This is what position trading is about.

Scenario 2
If the 2009 High 1.7043 on the GBP/USD if taken out and we get a daily close below 1.70000 (when that time comes) I will be entering short back down to the consolidation area.

LETS SEE WHAT HAPPENS



HDA OUT
  • #376,043
  • May 6, 2014 8:18am May 6, 2014 8:18am
Quoting PoundTrader
{quote}the sad thing is im not trading still on vacation

But are you feeling better bro? I hope so.
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  • #376,044
  • May 6, 2014 8:20am May 6, 2014 8:20am
1.70 Zone is May will be a Strong Resistance Zone & Some Big Retracemant can start From here . . . .
  • #376,045
  • May 6, 2014 8:21am May 6, 2014 8:21am
Quoting albchr
{quote} LOL... you thinking "maybe" ... ??? ... {image}
Nah
1.7 = short squeeze and overshoot some panic now so 1.701 (new stops) then ...
  • #376,046
  • May 6, 2014 8:25am May 6, 2014 8:25am
Quoting JimmyC
{quote} Nah 1.7 = short squeeze and overshoot some panic now so 1.701 (new stops) then ...
Yeah I was just teasing. Couldn't help but swipe GD's picture from my thread. I do have one baby short at 6983 now. Will likely add a couple to 1.7000/40 and see if we get any retrace at all from there. Just scalps, not looking for much.
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  • #376,047
  • May 6, 2014 8:29am May 6, 2014 8:29am
Quoting albchr
{quote} Yeah I was just teasing. Couldn't help but swipe GD's picture from my thread. I do have one baby short at 6983 now. Will likely add a couple to 1.7000/40 and see if we get any retrace at all form there. Just scalps, not looking for much.
Attached Image (click to enlarge)
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  • #376,048
  • May 6, 2014 8:31am May 6, 2014 8:31am
Quoting Fxtein
{quote} {image}
Interesting Fxtein. If she does drop, my target area is 6940ish.
Ghost Rider - WWTBMD?
  • #376,049
  • May 6, 2014 8:34am May 6, 2014 8:34am
DX 15

Rebound
Attached Image (click to enlarge)
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  • #376,050
  • May 6, 2014 8:34am May 6, 2014 8:34am
Quoting albchr
{quote} Interesting Fxtein. If she does drop, my target area is 6940ish.
GBPUSD always reverse at x.xx30 or x.xx70 levels only. you can check charts. Its GU weakness and our strength. We should enter at these levels with pending orders only
  • #376,051
  • May 6, 2014 8:39am May 6, 2014 8:39am
Quoting Ryan3645
{quote} yeah that one is in a biiiiiig loss at the moment hahaha as you can guess, the pic just showed orders not opened yet . Do you think we could see 1.700 today or maybe on thursday when they make the announcement?
stop buying them ???? i need to make this mornings pips up,, but i still want to see HDA treat ???? it will cost me about £0000000
  • #376,052
  • May 6, 2014 8:42am May 6, 2014 8:42am
Quoting Fxtein
{quote} GBPUSD always reverse at x.xx30 or x.xx70 levels only. you can check charts. Its GU weakness and our strength. We should enter at these levels only
I agree with you for the most part on the lower TF's. I also watch x.xx50 and x.xx80 levels for extensions too.

I still see this likely going to 7000/40 today (maybe more if US data is poor). Just building a couple on the way.
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  • #376,053
  • May 6, 2014 8:42am May 6, 2014 8:42am
@Davit:

My mind just ran on you.

Do you have any trades running? I haven't been able to watch over you like I normally do. Hope you're ok?


HDA OUT
  • #376,054
  • May 6, 2014 8:48am May 6, 2014 8:48am
Attached Image (click to enlarge)
Click to Enlarge Name: Screen Shot 2014-05-06 at 3.45.43 PM.png Size: 100 KB


Almost time
  • #376,055
  • May 6, 2014 8:50am May 6, 2014 8:50am
almost there.........
  • #376,056
  • May 6, 2014 8:51am May 6, 2014 8:51am
Lets see if we can get some movement after the 10am Eastern Options Expiry.

Will 1.7000 get hit before or after the Options Expiry or even today for that matter

Cautiously Optimistic

HDA OUT
  • #376,057
  • May 6, 2014 8:51am May 6, 2014 8:51am
Quoting HDA
{quote} @FxMaximus: You are correct. One of the biggest lessons I've learnt in this business is to always control my greed. So while the market is eyeing 1.7044, i'm getting out at the Options Barrier level 1.7000 In order to get to 1.7044, the market must first take out the Options Barrier at 1.7000 The bulls know stops are up there and once you see the market holding like this, its because of that Options Barrier. One just has to be patient now to wait for the PUSH. FINAL THOUGHT AGAIN Scenario 1 The 2009 High 1.7043 on the GBP/USD if taken out...
Yes I do remember this post with your mindset, what you are thinking with steps to take depending on how this unfolds. Excellent planning indeed. Really good stuff. As always, thanks for sharing!
  • #376,058
  • May 6, 2014 8:54am May 6, 2014 8:54am
Quoting HDA
Lets see if we can get some movement after the 10am Eastern Options Expiry. Will 1.7000 get hit before or after the Options Expiry or even today for that matter Cautiously Optimistic HDA OUT
HDA, for the benefit of myself and others on this board...WHAT constitutes a "Daily Close". At what time of Day?
  • #376,059
  • May 6, 2014 8:55am May 6, 2014 8:55am
Quoting HDA
@Davit: My mind just ran on you. Do you have any trades running? I haven't been able to watch over you like I normally do. Hope you're ok? HDA OUT
Thanks for asking HDA
I have some shorts in red.Have not added new ones.My main trades are on Euro
Regards
In trading, you have to be defensive and aggressive at the same time
  • #376,060
  • May 6, 2014 8:57am May 6, 2014 8:57am
Quoting HDA
Lets see if we can get some movement after the 10am Eastern Options Expiry. Will 1.7000 get hit before or after the Options Expiry or even today for that matter Cautiously Optimistic HDA OUT
I should have held off on that big smile face.

I was going to wait until it hit your 7000 exit but, just as with my trading entries, I always seem to jump the gun a wittle bit.
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