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Cable Update (GBPUSD)

  • #378,661
  • May 21, 2014 4:29pm May 21, 2014 4:29pm
Well, that's disappointing...

Same resistance...
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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #378,662
  • May 21, 2014 5:05pm May 21, 2014 5:05pm
Quoting Magix
Well, that's disappointing... Same resistance... {image}
Yeah 6900 isn't going to just fold. Same resistance but with a couple important differences on the 4H (at least to me). Closed higher than all previous 4H at this level since it's return here. Closed above the 61.8% and engulfed the previous bearish inside stick.

Tick volume on the first 4H stick (with upper wick) was 14,358. The bear stick that followed was 11,590 and the last one (that broke the fib) was only 8,980 yet it closed higher than all the rest even though pushed near the open of the first.

Tells me the first was buyers and sellers with buyers edging ahead. Second one was buyers and sellers but sellers couldn't even get to the open of the first. Third was almost all buyers and the highest close. Tick volume through a single broker is but a tiny slice but still a decent "hint" for me as I've had and watched the same broker from the start. So I've just noticed little patterns with volume versus stick length and closes.

Bottom line for me? Yeah it may bounce around and dip some again but more likely going up than down as of now. And yes, If I were short I'd read it the same way and be a bit worried....LOL
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Ghost Rider - WWTBMD?
  • #378,663
  • May 21, 2014 5:20pm May 21, 2014 5:20pm
If tomorrow's gdp data's good, we'll mostlikely see 1.7000. HDA will sure be glad.
  • #378,664
  • May 21, 2014 6:07pm May 21, 2014 6:07pm
Quoting mamalujo
If tomorrow's gdp data's good, we'll mostlikely see 1.7000. HDA will sure be glad.
Judging by the look of the Dollar vs. GBP, we might not need good GBP data...LOL

New Daily Sticks
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Ghost Rider - WWTBMD?
  • #378,665
  • May 21, 2014 7:41pm May 21, 2014 7:41pm
Quoting albchr
{quote} And you were drawing lines to make yourself feel bearish the other day. ... How are you my brother?
He he...

got to be nimble nowadays
Come with me if you want to live....
  • #378,666
  • May 21, 2014 7:41pm May 21, 2014 7:41pm
Ruffy just posted his stats...

I guess this is only for historical purposes so he can say how great he actually is...but he probably never counted on anybody actually checking it...

Guess what?

I did!

And guess what?

My earlier comment was, incorrect...I said that he was wrong 80% of the time, it's actually 87.5%...

According to his trade journal, these are his positions.

GBPCAD Short @ 8440, sl 8470 -30
EURUSD SHort 3697 SL3744 TP 3587 +10
EURCHF short 2215 sl 2222 tp2173 -7
GBPCAD Short 8149 SL 8470 TP 8220 -20
GBPAUD Short 8294 SL50 TP 140 <-6> <-Holding
GBPNZD Short @ 9714 SL 50 -60
GBPusd SHORT -40
GBPJPY Short -40
====
TOTAL = -187 and holding one in the stink.

However...Here is what he claims.


Seriously...this needs to be a TRADE SYSTEM!
(I hope he gets his buy button working again, only being able to short isn't doing much for his "Account"...)
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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #378,667
  • May 21, 2014 7:50pm May 21, 2014 7:50pm
April was the strongest monthly close since the crisis for the Pound vs the USD.
If and when we get to 1.7330 area, I think there will be a nice, healthy, profitable correction, but the sins of the crisis and the Feds response are taking their ultimate toll.
Come with me if you want to live....
  • #378,668
  • May 21, 2014 8:31pm May 21, 2014 8:31pm
currently on a tear against crosses AUD NZD
near multi year highs v AUD
  • #378,669
  • May 21, 2014 8:37pm May 21, 2014 8:37pm
Could be a good spot to look for signs of continuation north
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Come with me if you want to live....
  • #378,670
  • May 21, 2014 9:12pm May 21, 2014 9:12pm
Quoting Magix
Ruffy just posted his stats... I guess this is only for historical purposes so he can say how great he actually is...but he probably never counted on anybody actually checking it... Guess what? I did! And guess what? My earlier comment was, incorrect...I said that he was wrong 80% of the time, it's actually 87.5%... According to his trade journal, these are his positions. GBPCAD Short @ 8440, sl 8470 -30 EURUSD SHort 3697 SL3744 TP 3587 +10 EURCHF short 2215 sl 2222 tp2173 -7 GBPCAD Short 8149 SL 8470 TP 8220 -20 GBPAUD Short 8294 SL50 TP 140 <-6>...
I think i should join his group and do opposite
  • #378,671
  • May 21, 2014 9:29pm May 21, 2014 9:29pm
Quoting Lamira
{quote} I think i should join his group and do opposite

Or, we should start a trade explorer based on his calls...

Let's see how this really works out!

Every great system still takes verification...and as the saying goes, even a blind squirrel will find an acorn, once in a while.

Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #378,672
  • May 21, 2014 10:03pm May 21, 2014 10:03pm
EJ...

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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #378,673
  • May 21, 2014 10:44pm May 21, 2014 10:44pm
Yeah...

I thought so...
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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #378,674
  • May 21, 2014 10:57pm May 21, 2014 10:57pm
Anybody catch the EURUSD Skort at Res?
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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #378,675
  • May 21, 2014 11:28pm May 21, 2014 11:28pm
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target to 1.7900
no other killers to me but emotion
  • #378,676
  • Edited 1:14am May 22, 2014 12:37am | Edited 1:14am
On most basic level
GU going higher needs EU going higher as well.
Not likely to happen when EU fundamentals and stats are pointing 1.35 and lower.
97% correlation GU with EU
1.70 GU equals 1.38+EU
We already know that prospects of it is not great considering EZ low inflation.
So sum it up its not about UK but its about Euro zone
In trading, you have to be defensive and aggressive at the same time
  • #378,677
  • May 22, 2014 1:47am May 22, 2014 1:47am
Lets rock this place

Inserted Video

Let it go.Soak it in...
In trading, you have to be defensive and aggressive at the same time
  • #378,678
  • May 22, 2014 2:14am May 22, 2014 2:14am
Quoting Kajos2250
{quote} I must not keep out from this Buy limit .6882, buy stop .6917. Invalidation if price coulkd close under ~6850. Good luck! {image}
GU H4 GMT+3

Buy limit triggered too.
Buy stop .6909 placed again.
Lets see can it do

Good luck!
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Anything is math!
  • #378,679
  • May 22, 2014 2:28am May 22, 2014 2:28am
GU pop yesterday came on retail sales hot print but supposedly that was due to increased food purchases, which were in turn due to increased supply and lower prices, from mild weather. So, in other words, a temporary blip in supply *and* demand, not likely to be repeated or to become a permanent step up in retail sales. So, why the persistent bid here in GU, with risk/reward so unfavorably balanced for new long positions? 1.7000 is significant long term resistance, the Fed and BOE have both gotten more cagey w/policy guidance, and how many times has BOE's first rate hike already been priced in here?
  • #378,680
  • May 22, 2014 2:33am May 22, 2014 2:33am
Quoting Davit
On most basic level GU going higher needs EU going higher as well. Not likely to happen when EU fundamentals and stats are pointing 1.35 and lower. 97% correlation GU with EU 1.70 GU equals 1.38+EU We already know that prospects of it is not great considering EZ low inflation. So sum it up its not about UK but its about Euro zone
hey no offense but I can see 1.7 soon! EU can touch 1.375 again! Anyways I am longing on cable with target 1.7x
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