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Cable Update (GBPUSD)

  • #382,381
  • Jun 17, 2014 4:04pm Jun 17, 2014 4:04pm
Quoting Kajos2250
{quote} GU D1 GMT+3 I like this bullish gap, strengthening my longs, buy stop .6997. All longs invalidation is if price could close under ~6882. Good luck! {image}
GU D1 GMT+3

Closeing in the bullish gap, rally is on the door
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdmicrodaily.png Size: 51 KB
Anything is math!
  • #382,382
  • Jun 17, 2014 4:11pm Jun 17, 2014 4:11pm
To many traders going short im a little now
  • #382,383
  • Jun 17, 2014 4:15pm Jun 17, 2014 4:15pm
Quoting PoundTrader
To many traders going short im a little now
hold tight still in the game we need a break down now thou
  • #382,384
  • Jun 17, 2014 4:29pm Jun 17, 2014 4:29pm
Quoting PoundTrader
To many traders going short im a little now
You are damn right, when all most traders are moving towrads one direction, then something is not right
The fragrance remains in the hands of those that gves the rose
  • #382,385
  • Jun 17, 2014 4:31pm Jun 17, 2014 4:31pm
something tells me we are still long here
The fragrance remains in the hands of those that gves the rose
  • #382,386
  • Jun 17, 2014 4:31pm Jun 17, 2014 4:31pm
Quoting PoundTrader
To many traders going short im a little now
Next high 1.7081
A good trader follows his rules, but great trader knows when to break them
  • #382,387
  • Jun 17, 2014 4:33pm Jun 17, 2014 4:33pm
Quoting ill_be_back
{quote} Next high 1.7081
I will sell by then
The fragrance remains in the hands of those that gves the rose
  • #382,388
  • Jun 17, 2014 4:36pm Jun 17, 2014 4:36pm
Quoting okosodo
{quote} I will sell by then
http://1.bp.blogspot.com/-pMVwtMBNF1...-a-time+1.jpeg
A good trader follows his rules, but great trader knows when to break them
  • #382,389
  • Jun 17, 2014 4:38pm Jun 17, 2014 4:38pm
What's this? Cold feet on the short side I see? hehe.....
Ghost Rider - WWTBMD?
  • #382,390
  • Jun 17, 2014 6:28pm Jun 17, 2014 6:28pm
Quoting albchr
What's this? Cold feet on the short side I see? hehe.....
Welllll, kinda, start to get itchy when I have to hang on to the position more than a couple of days. I'm short at 1.69334, but, in 20-20 hindsight, would have been better to be patient and wait to short at 1.7 or to have simply stood aside. I have slapped myself several times since then, especially since the short wasn't really technically supportable at the time. Actually, don't know why I missed going long around 1.68 or so ... .

Cryin' over spilt milk (which I naturally hope to be able to lick up later).

Woody the Zebra Squirrel
Fireworks are fun ... as long as you don't blow your fingers off.
  • #382,391
  • Jun 17, 2014 6:37pm Jun 17, 2014 6:37pm
Quoting JimmyC
{quote} Was just looking at the 4H as well Hanging man with bearish confirmation, this is the first bearish confirmation in this candle series so it should follow through this time... {image}
My target price is in the same vicinity as yours ... .

Woody
Fireworks are fun ... as long as you don't blow your fingers off.
  • #382,392
  • Jun 17, 2014 6:43pm Jun 17, 2014 6:43pm
Quoting GlobalMacro
{quote} I don't see anything in my statement that suggests any particular "reason", Jason, you just confirmed yourself that you handle positively and negatively impacted trades differently.
Hi GlobalMacro,

I think we both may have misunderstood each other.

What I meant in my previous post when I said in "Yes, but not for the reason you're suggesting." was that there was no reason to worry about trades positively impacted by the bad tick, because there were no positively impacted trades due to the bad tick. That's because no orders executed at the bad tick prices negatively or positively. However, the bad ticks did trigger margin calls on some accounts resulting in trades being erroneously closed out at the prices trading in the actual market prices trading at that time.


Quoting GlobalMacro
I don't see anything in my statement that suggests any particular "reason".
Perhaps I misunderstood your previous post as well.

When you said "What if your trades were positively impacted....no need to file anything, everything will be automatically taken care of ?" I thought you were suggesting that FXCM might be more proactive in correcting erroneous trades that positively impact our clients than those that negatively impact them, and I wanted to emphasize that is not the case.

When a bad tick is identified, FXCM reviews whether clients were negatively impacted to make corrections automatically. However, we still advise who reach out to us about the bad tick to file a trade inquiry, so they can track the progress of their own case, and possibly receive a resolution sooner than they would have through our automatic adjustment process. The fact remains, however, that even clients who don't contact us about this Sunday's bad tick would have had affected trades corrected.


Quoting GlobalMacro
How is it even possible that an untradable outlier that large isn't filtered out to begin with?
The vast majority of bad ticks do get filtered out. However, as you can see from the examples below, something about the bad ticks this Sunday affected priced feeds at several brokers. We've followed up the liquidity providers in question to prevent a recurrence of this issue.

  1. http://www.forexfactory.com/showthre...63#post7537563
  2. http://www.forexfactory.com/showthre...25#post7537325
  3. http://www.donnaforex.com/forum/inde...2640#msg312640
  4. http://www.donnaforex.com/forum/inde...2525#msg312525

  • #382,393
  • Edited 7:01pm Jun 17, 2014 6:51pm | Edited 7:01pm
Quoting JimmyC
{quote} Hey Billy Yup when this happens I try to trade HTF to see where we are and... This could be a short term top BUT FOMC.... This is often bearish, but cable has rejected many bearish patterns lately Tomorrow evening, I'm waiting to read Hints on US rate increases Hints on taper being changed in anyway If she hints at early rate increases... it will be a very swift fall on cable {image}
This is exactly my assessment ... . On the other hand, they could be deliberately vague on tapering and/or rate cuts, indicating that they are reviewing the issue on an ongoing basis, but that no determination as to a rate hike increase is set in stone. However, there are gruntings that QE isn't doing squat for the economy, and that its usefulness has been exhausted ... . Consequently, I could foresee them saying we're going to leave interest rates alone for now and aren't on a particular schedule to raise them, but that QE tapering can be accelerated because it does not appear to have particular usefulness at this stage in the recovery. Although it's just my opinion, I can't see them saying we're going to raise interest rates at the moment or even in Q3 or Q4 2014. Various aspects of the U.S. economy, after all, remain particularly weak: the unemployment rate isn't particularly stellar; the housing market hasn't rebounded in step with the remainder of the economy; and wage growth is virtually at a standstill.

That kinda statement would still be good for dollar strength (and GBP/USD) weakness.

(Fingers crossed).

Woody
Fireworks are fun ... as long as you don't blow your fingers off.
  • #382,394
  • Jun 17, 2014 6:56pm Jun 17, 2014 6:56pm
Quoting ZebraSquirl
{quote} Welllll, kinda, start to get itchy when I have to hang on to the position more than a couple of days. I'm short at 1.69334, but, in 20-20 hindsight, would have been better to be patient and wait to short at 1.7 or to have simply stood aside. I have slapped myself several times since then, especially since the short wasn't really technically supportable at the time. Actually, don't know why I missed going long around 1.68 or so ... . Cryin' over spilt milk (which I naturally hope to be able to lick up later). Woody the Zebra Squirrel
I understand completely. The only thing worse than waiting for a good entry to profit is waiting for a weak one to come back. I swing trade too and as such, I build positions into strength or weakness. Been sitting on some NU shorts in the red since last week. Not fun but if my TA is correct, they'll come out ok. 2 of the 4 are now in a little profit.
Ghost Rider - WWTBMD?
  • #382,395
  • Jun 17, 2014 7:06pm Jun 17, 2014 7:06pm
Quoting albchr
{quote} I understand completely. The only thing worse than waiting for a good entry to profit is waiting for a weak one to come back. I swing trade too and as such, I build positions into strength or weakness. Been sitting on some NU shorts in the red since last week. Not fun but if my TA is correct, they'll come out ok. 2 of the 4 are now in a little profit.
My usual excuse is that "Hey, guess my timing was a little off ... ." (That's what she said.)

Woody
Fireworks are fun ... as long as you don't blow your fingers off.
  • #382,396
  • Jun 17, 2014 8:01pm Jun 17, 2014 8:01pm
Quoting elbert3
{quote} hold tight still in the game we need a break down now thou
  • #382,397
  • Jun 17, 2014 8:01pm Jun 17, 2014 8:01pm
Quoting okosodo
{quote} You are damn right, when all most traders are moving towrads one direction, then something is not right
  • #382,398
  • Jun 17, 2014 8:02pm Jun 17, 2014 8:02pm
Quoting ill_be_back
{quote} Next high 1.7081
  • #382,399
  • Jun 17, 2014 8:57pm Jun 17, 2014 8:57pm
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  • #382,400
  • Jun 17, 2014 9:58pm Jun 17, 2014 9:58pm
Quoting Kajos2250
{quote} GU D1 GMT+3 Closeing in the bullish gap, rally is on the door {image}
can you please check your inbox i have sent a message..
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