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Cable Update (GBPUSD)

  • #383,001
  • Jun 19, 2014 1:06pm Jun 19, 2014 1:06pm
Quoting Davit
{quote} I have 8 shorts from 7060-6950 Feds unexpected outcome kind of screwed me up.Having said this cutting lose the losers is no problem for me.Not going to hold on to losers to long.I had 1.71 as cutting point
It is at the upper end of a diverging fan. The price will drop to the middle, where you mostly will be BE or with some profit. Reduce position size there. If it goes up again afterwards, load back. If it goes down keep what you have after you have reduced.

Attached Image (click to enlarge)
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ignore wackos and psychos, including myself. But I can't add myself to iggy
  • #383,002
  • Jun 19, 2014 1:14pm Jun 19, 2014 1:14pm
Quoting ffleo
{quote} remember this post. {image}
also remember this post ==========> http://www.forexfactory.com/showthre...79#post7533279
ignore wackos and psychos, including myself. But I can't add myself to iggy
  • #383,003
  • Jun 19, 2014 1:14pm Jun 19, 2014 1:14pm
Only way to lower pound is lower much more euro and still it is not so good working..
  • #383,004
  • Jun 19, 2014 1:17pm Jun 19, 2014 1:17pm
Quoting Nan-ook
Only way to lower pound is lower much more euro and still it is not so good working..
no, you do not need to lower euro for cable to drop. cable will drop on its own.

Attached Image (click to enlarge)
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ignore wackos and psychos, including myself. But I can't add myself to iggy
  • #383,005
  • Jun 19, 2014 1:22pm Jun 19, 2014 1:22pm
ffleo
thanks for your posts.I gather your bias is based on UK equities falling and that in turn will lead pound to follow.
UK stocks took a hit because of Iraq issue and pound rallied even more.
Not expert on this area.Isn't UK100 same as stocks?
regards
In trading, you have to be defensive and aggressive at the same time
  • #383,006
  • Jun 19, 2014 1:24pm Jun 19, 2014 1:24pm
Quoting Davit
ffleo thanks for your posts.I gather your bias is based on UK equities falling and that in turn will lead pound to follow. UK stocks took a hit because of Iraq issue and pound rallied even more. Not expert on this area.Isn't UK100 same as stocks? regards
UK100 is their stock index, like spx or dow for the US stocks.

Spx and DAX keep making new highs, but uk100 just cannot break out upside for 14 months. UK100 is lower than its 1999 high.
ignore wackos and psychos, including myself. But I can't add myself to iggy
  • #383,007
  • Jun 19, 2014 1:26pm Jun 19, 2014 1:26pm
Quoting ffleo
{quote} did you notice the diverging fan at the top of the H4 chart?
I am noticing all possible signals to sell cable, but it is one of those situations when have to be patient
No emotions, just trade
  • #383,008
  • Jun 19, 2014 1:27pm Jun 19, 2014 1:27pm
Quoting ffleo
{quote} no, you do not need to lower euro for cable to drop. cable will drop on its own. {image}
agree with this, I think eur/gbp will not stay much under 0.8 and I share the same view on cable although I have longs at u/chf and short aussie, but cable > 1.7 is too juicy to resist at sell command. there're 2-3 rate hikes discounted in this high levels at cable. maybe another spike up but this is good opp. for short.
nice analyses btw.
"The secret of politics? Make a good treaty with Russia." Otto von Bismarck
  • #383,009
  • Jun 19, 2014 1:31pm Jun 19, 2014 1:31pm
Quoting bikov
{quote} agree with this, I think eur/gbp will not stay much under 0.8 and I share the same view on cable although I have longs at u/chf and short aussie, but cable > 1.7 is too juicy to resist at sell command. there're 2-3 rate hikes discounted in this high levels at cable. maybe another spike up but this is good opp. for short. nice analyses btw.
Thanks. I am a technical guy. I like to get fundamental inputs from other guys.
ignore wackos and psychos, including myself. But I can't add myself to iggy
  • #383,010
  • Jun 19, 2014 1:32pm Jun 19, 2014 1:32pm
Quoting ffleo
{quote} UK100 is their stock index, like spx or dow for the US stocks. Spx and DAX keep making new highs, but uk100 just cannot break out upside for 14 months. UK100 is lower than its 1999 high.
http://www.marketwatch.com/story/uk-...ies-2014-06-16

U.K. stocks slip for second day as pound rallies
Kind of contradicts what you are saying unless I am missing something.
In trading, you have to be defensive and aggressive at the same time
  • #383,011
  • Jun 19, 2014 1:37pm Jun 19, 2014 1:37pm
Quoting ffleo
{quote} Next time Carney will say "pound is kind high for us to raise rate right now, we will raise rate after pound drops a little". Bang, pound go to hell
More than likely. I never claimed to understand fundamentals but ... human nature and phycology? That's different. Also, This isn't going to fall like a rock right away so when the doubts come creeping in....well....you know. I'll be building a few more as time progresses I'm sure.
Attached Image (click to enlarge)
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Ghost Rider - WWTBMD?
  • #383,012
  • Jun 19, 2014 1:42pm Jun 19, 2014 1:42pm
Quoting Davit
{quote} http://www.marketwatch.com/story/uk-...ies-2014-06-16 U.K. stocks slip for second day as pound rallies Kind of contradicts what you are saying unless I am missing something.
I think the big trend of cable will follow its equities uk100. This is the opportunities to short cable for a few hundred pips.
ignore wackos and psychos, including myself. But I can't add myself to iggy
  • #383,013
  • Jun 19, 2014 1:42pm Jun 19, 2014 1:42pm
Quoting ffleo
{quote} Thanks. I am a technical guy. I like to get fundamental inputs from other guys.

fundamental inputs..well, I posted here 3-4 months ago about UK giant debt/gdp ratio which is > 400%, only Japan have larger one. rate hike in this situation.. not sure.
"The secret of politics? Make a good treaty with Russia." Otto von Bismarck
  • #383,014
  • Jun 19, 2014 1:44pm Jun 19, 2014 1:44pm
Quoting albchr
{quote} More than likely. I never claimed to understand fundamentals but ... human nature and phycology? That's different. Also, This isn't going to fall like a rock right away so when the doubts come creeping in....well....you know. I'll be building a few more as time progresses I'm sure. {image}
Positions becoming larger ... when you are a millionaire, we can go fishing for these groupers once again. Aaaaaand finally: Salmon!
Fix up, trade sharp ...
  • #383,015
  • Jun 19, 2014 1:50pm Jun 19, 2014 1:50pm
time to watch england - uruguay , maybe this will decide the faith of the cable
"The secret of politics? Make a good treaty with Russia." Otto von Bismarck
  • #383,016
  • Jun 19, 2014 1:52pm Jun 19, 2014 1:52pm
Quoting ffleo
{quote} I think the big trend of cable will follow its equities uk100. This is the opportunities to short cable for a few hundred pips.
It is going to drop for a few hundred pips, then bounce, and then drop a few hundred pips, then bounce, then drop. Just the reverse process of its creeping up for over a year
ignore wackos and psychos, including myself. But I can't add myself to iggy
  • #383,017
  • Jun 19, 2014 1:52pm Jun 19, 2014 1:52pm
Quoting albchr
{quote} More than likely. I never claimed to understand fundamentals but ... human nature and phycology? That's different. Also, This isn't going to fall like a rock right away so when the doubts come creeping in....well....you know. I'll be building a few more as time progresses I'm sure. {image}

chris to u have the demo for lfx chart..i better instal it..im starting to worry abt my positions..this sum bitch is rising no matter what
  • #383,018
  • Edited 2:20pm Jun 19, 2014 1:55pm | Edited 2:20pm
There are two things hinting for a trend reversal of cable:

1. uk100 unable to make new high for 14 months at the top.
2. the big gap of deep grove of the market profile =======> strong resistance.
ignore wackos and psychos, including myself. But I can't add myself to iggy
  • #383,019
  • Jun 19, 2014 1:59pm Jun 19, 2014 1:59pm
Quoting Kajos2250
{quote} Typical continuation pattern for bulls targetting ~7113... {image}
Wonderfully trending!
Trend is your friend and that is the truth!!!
Attached Image (click to enlarge)
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Anything is math!
  • #383,020
  • Jun 19, 2014 2:06pm Jun 19, 2014 2:06pm
Quoting nAVIN2007
{quote} chris to u have the demo for lfx chart..i better instal it..im starting to worry abt my positions..this sum bitch is rising no matter what
Yeah brother I'm still using the SigTrader demo for them. Only now It's MT5. No big deal but just a bit different. Do you need the link or can you just Google it?
Ghost Rider - WWTBMD?
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