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Cable Update (GBPUSD)

  • #379,701
  • May 29, 2014 3:25am May 29, 2014 3:25am
Quoting Kofmaster
{quote} Its ok. I'm swing trader, I can hold trades for 50+ pip back to nth or even negative in profits back to 100+ pips. I'm used to it. Jesse Livermore once said alot of people are properly bull in bull market and properly bear in bear market. But its hard to find ones right and sit tight. The hardest thing to do is do nothing once the trades has taken. I had adopted the mentality in which either you take my money or i take yours. Chillss Glad there is someone looking the same direction as me
  • #379,702
  • May 29, 2014 3:25am May 29, 2014 3:25am
Quoting tk5
Cable will go up to .6850 before it will go down again in June. US dollar is expensive in June. it's seasonality of USD.
wow. i didnt know that . thanks!!!
  • #379,703
  • May 29, 2014 3:26am May 29, 2014 3:26am
Quoting Kofmaster
Long GU at 1.6717. SL 30-40 pips just below. i've no confident in this trade
clearly short lost some steam but i hold out before going long
  • #379,704
  • May 29, 2014 3:28am May 29, 2014 3:28am
Quoting Kofmaster
Long GU at 1.6717. SL 30-40 pips just below. i've no confident in this trade
My first target is 1.6780
2nd 1.6815

lets c
Read the entire market, money is made on the main trend not the fluctuation
  • #379,705
  • May 29, 2014 3:28am May 29, 2014 3:28am
There's a strong support at the Figure 1.6700 - 1.6695. I long at 1.6696 and I think it won't drop further now. I think we should consider that there are also central banks that are trading local currencies. BOE won't let the Pound drop further, it will hurt the economy. My theory is, exchange rates should only move 200-400 pips/ week if there's a significant news. It shouldn't go beyond 200pips from last week's close without any supporting news. I'm expecting it will make some retracement to 50% fib, it will also atleast hug the EMA again
  • #379,706
  • May 29, 2014 3:28am May 29, 2014 3:28am
Quoting GlobalMacro
{quote} It's an exhaustion zone here, but the excessive selloff made the resistances too steep... First attempt at 730 got sold off hard earlier.....now all eyes on 735 for a second attempt... We need to get that resistance around there bent first.......
Morning GM, the 5 min say long if it breaks i might go long and lose a few pips
Attached Image (click to enlarge)
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  • #379,707
  • May 29, 2014 3:29am May 29, 2014 3:29am
Quoting PoundTrader
{quote}clearly short lost some steam but i hold out before going long

its going to take sometimes before the whole thing reverse. I'm sure experienced trader can see it when its coming.
Read the entire market, money is made on the main trend not the fluctuation
  • #379,708
  • May 29, 2014 3:32am May 29, 2014 3:32am
Quoting PoundTrader
{quote}clearly short lost some steam but i hold out before going long
my view as well.
Down move PRZ 618 if fails 78.6
Most edge for long.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.daily.png Size: 46 KB
In trading, you have to be defensive and aggressive at the same time
  • #379,709
  • May 29, 2014 3:33am May 29, 2014 3:33am
Quoting tk5
Cable will go up to .6850 before it will go down again in June. US dollar is expensive in June. it's seasonality of USD.
This is interesting, any sources I can read up on this?
  • #379,710
  • May 29, 2014 3:36am May 29, 2014 3:36am
Quoting Kofmaster
{quote} its going to take sometimes before the whole thing reverse. I'm sure experienced trader can see it when its coming.
i mean we all have our on way i just like the trend to get started before i jump in, then again my system is base on getting 100+ pips so im looking at holding for 2 to 7 days
  • #379,711
  • May 29, 2014 3:38am May 29, 2014 3:38am
Quoting elbert3
{quote} Morning GM, the 5 min say long if it breaks i might go long and lose a few pips {image}
Morning Billy, 735 looks reachable for sure.... 735-745 is still a tough nut to crack...looks good so far, we're almost there...
Hear the music before the song is over ...
  • #379,712
  • May 29, 2014 3:38am May 29, 2014 3:38am
Quoting Davit
{quote} my view as well. Down move PRZ 618 if fails 78.6 Most edge for long. {image}
morning after looking at it i might add shorts
  • #379,713
  • May 29, 2014 3:40am May 29, 2014 3:40am
Come on honey, just a wee bit more.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdmh4.png Size: 56 KB
Ghost Rider - WWTBMD?
  • #379,714
  • May 29, 2014 3:40am May 29, 2014 3:40am
Quoting PoundTrader
{quote}i mean we all have our on way i just like the trend to get started before i jump in, then again my system is base on getting 100+ pips so im looking at holding for 2 to 7 days
U think this move is going to reverse 100 pips or more?
Great
Read the entire market, money is made on the main trend not the fluctuation
  • #379,715
  • May 29, 2014 3:41am May 29, 2014 3:41am
Quoting GlobalMacro
{quote} Morning Billy, 735 looks reachable for sure.... 735-745 is still pretty tough nut to crack...looks good so far, we're almost there...
just had a look even thou 5 min is go last night did not pull back enough for me so i think i will stick short and may be add,,gl thou we can all make money here i think but keep it tight on pp when you can ..E
  • #379,716
  • May 29, 2014 3:42am May 29, 2014 3:42am
i dont know a damn thing about charts but i will try to post one
  • #379,717
  • May 29, 2014 3:44am May 29, 2014 3:44am
Quoting globalmacro
{quote} morning billy, 735 looks reachable for sure.... 735-745 is still a tough nut to crack...looks good so far, we're almost there...
even 57 ,?? ,looks best place to short ,
  • #379,718
  • May 29, 2014 3:45am May 29, 2014 3:45am
Quoting Kofmaster
{quote} U think this move is going to reverse 100 pips or more? Great
no no no, come down, i don't think shit, i was saying thats the way i trade if i enter a trade im looking for 100 pips or more, to keep it real i stop trading this pair a long time ago, my main pair i trade is gbp/nzd and eur/nzd two 2 pairs moves about 150 to 300 pips a day
  • #379,719
  • May 29, 2014 3:45am May 29, 2014 3:45am
Quoting elbert3
{quote} morning after looking at it i might add shorts
I think when PA is traveled considerable distance then risk is greater for reaction,correction hence shorting at this junction is riskier.
Better tactic is wait to go long once you see sign of Bear exhaustion at key fib levels (see my chart).
However this reaction could start even at 67
So there is always Grey areas when doing nothing is best.
Regards
In trading, you have to be defensive and aggressive at the same time
  • #379,720
  • May 29, 2014 3:46am May 29, 2014 3:46am
Quoting Kofmaster
{quote} Its ok. I'm swing trader, I can hold trades for 50+ pip back to nth or even negative in profits back to 100+ pips. I'm used to it. Jesse Livermore once said alot of people are properly bull in bull market and properly bear in bear market. But its hard to find ones right and sit tight. The hardest thing to do is do nothing once the trades has taken. I had adopted the mentality in which either you take my money or i take yours. Chillss Glad there is someone looking the same direction as me
I see where you coming from, I'm a position trader myself...since I'm working multiple markets though
I need to make the most efficient use of my capital, hence I'm optimizing my entries.
That being said I agree 100 % longs are very attractive atm....
Hear the music before the song is over ...
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