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Cable Update (GBPUSD)

  • #382,001
  • Jun 16, 2014 3:10am Jun 16, 2014 3:10am
Quoting albchr
My short entry is making such a wonderful support atm...no? {image}
Morning Chris, didn't you say in one your earlier posts, you're day trading shorts...
Hear the music before the song is over ...
  • #382,002
  • Jun 16, 2014 3:10am Jun 16, 2014 3:10am
here is no problem in europe and US but there surely is a problem in china which is the market is clearly ignoring. If you have been in forex for a long while you may well be aware that china is accumulating tons and tons of foreign currency reserves. they accumulated aussie during 2010-12. they are still acccumulating the kiwi and to be frank I cannot imagine what will happen if china goes burst. to me 1.42 to 1.70 is 2800 pips in 1 year which is 240 pips on an average/month which is too fast.




so what you expect for gbpusd?

  • #382,003
  • Jun 16, 2014 3:12am Jun 16, 2014 3:12am
If I put any faith in a 4H (which I don't really) that would be a nice one off SR. But the rejection so far on any TF is looking good for a retracement.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdmh4.png Size: 60 KB
Ghost Rider - WWTBMD?
  • #382,004
  • Jun 16, 2014 3:15am Jun 16, 2014 3:15am
Quoting GlobalMacro
{quote} Morning Chris, didn't you say in one your earlier posts, you're day trading shorts...
Good morning Brother, yes I did sir, and I am. Will she be to me today or... ... lol
Ghost Rider - WWTBMD?
  • #382,005
  • Jun 16, 2014 3:19am Jun 16, 2014 3:19am
Quoting samooh
here is no problem in europe and US but there surely is a problem in china which is the market is clearly ignoring. If you have been in forex for a long while you may well be aware that china is accumulating tons and tons of foreign currency reserves. they accumulated aussie during 2010-12. they are still acccumulating the kiwi and to be frank I cannot imagine what will happen if china goes burst. to me 1.42 to 1.70 is 2800 pips in 1 year which is 240 pips on an average/month which is too fast. so what you expect for gbpusd?
I would suggest not asking opinion of others....

GU climb had lot to do with Feds printing money then anything else...China is irrelevant in terms of Forex volume.
In trading, you have to be defensive and aggressive at the same time
  • #382,006
  • Jun 16, 2014 3:21am Jun 16, 2014 3:21am
Quoting albchr
{quote} Good morning Brother, yes I did sir, and I am. Will she be to me today or... ... lol
Oh alright...for a second it looked like you were going to hold onto it....
Hear the music before the song is over ...
  • #382,007
  • Jun 16, 2014 3:28am Jun 16, 2014 3:28am
Quoting GlobalMacro
{quote} Oh alright...for a second it looked like you were going to hold onto it....
Only if PA suggests I should. If not, I cut quick. I love the little losers. They always point to the bigger winners.
Ghost Rider - WWTBMD?
  • #382,008
  • Jun 16, 2014 3:34am Jun 16, 2014 3:34am
Quoting albchr
{quote} Only if PA suggests I should. If not, I cut quick. I love the little losers. They always point to the bigger winners.
Attached Image (click to enlarge)
Click to Enlarge Name: 1h.png Size: 105 KB
price could bounce here break the red 20 , enough then carry on down i would think chris and
  • #382,009
  • Jun 16, 2014 3:41am Jun 16, 2014 3:41am
Lets see how price close with 4hr candle​
GELORE
  • #382,010
  • Jun 16, 2014 3:43am Jun 16, 2014 3:43am
Quoting elbert3
{quote} {image} price could bounce here break the red 20 , enough then carry on down i would think chris and
Could be my friend. ATM, my crystal ball has a boo boo and is out for repairs. So I guess I'll just have to wing it for now.

Not that is't imposiible to just run north of course but I think at least a little retracement is in order before much more. But we'll see as always.
Attached Image
Ghost Rider - WWTBMD?
  • #382,011
  • Jun 16, 2014 3:48am Jun 16, 2014 3:48am
GU M5

1.697 must break to allow bearish PA to continue, for now gap area acting as support

Attached Image
  • #382,012
  • Jun 16, 2014 3:55am Jun 16, 2014 3:55am
There is clear divergence on CCI14 and RSI8 H4
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.h4.png Size: 43 KB
In trading, you have to be defensive and aggressive at the same time
  • #382,013
  • Jun 16, 2014 3:57am Jun 16, 2014 3:57am
Quoting JimmyC
GU M5 1.697 must break to allow bearish PA to continue, for now gap area acting as support {image}
Good morning Jimmy Same thing I'm looking at (within a couple pips my feed) in just a slightly different way.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdmm30.png Size: 44 KB
Ghost Rider - WWTBMD?
  • #382,014
  • Jun 16, 2014 3:59am Jun 16, 2014 3:59am
Attached Image (click to enlarge)
Click to Enlarge Name: 15.png Size: 112 KB
if i were short on this trade from this morning i would have sl above the red candle now in play , it is also a good rr trade now, rr is 9 pips to get 30 ??/
  • #382,015
  • Jun 16, 2014 4:02am Jun 16, 2014 4:02am
Looks like people sold retracement.
Intraday only.
  • #382,016
  • Jun 16, 2014 4:03am Jun 16, 2014 4:03am
Opps... 5M Second test holds support
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdmm5.png Size: 68 KB
Ghost Rider - WWTBMD?
  • #382,017
  • Jun 16, 2014 4:07am Jun 16, 2014 4:07am
Quoting albchr
Opps... 5M Second test holds support {image}
976 short put my money where mouth is target 933 sl 984
  • #382,018
  • Jun 16, 2014 4:09am Jun 16, 2014 4:09am
Quoting elbert3
{quote} 976 short put my money where mouth is target 933 sl 984
You can see where mine is. Just posting play by play out of boredom. Too much?
Ghost Rider - WWTBMD?
  • #382,019
  • Jun 16, 2014 4:15am Jun 16, 2014 4:15am
Quoting albchr
{quote} You can see where mine is. Just posting play by play out of boredom. Too much?
is that it short 73 ?? not sure chris if i read it right ,, b
  • #382,020
  • Jun 16, 2014 4:18am Jun 16, 2014 4:18am
Quoting elbert3
{quote} is that it short 73 ?? not sure chris if i read it right ,, b
742 & 707

Attached Image (click to enlarge)
Click to Enlarge Name: !t-gbpusdmm233.png Size: 52 KB
Ghost Rider - WWTBMD?
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