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Cable Update (GBPUSD)

  • #383,541
  • Jun 24, 2014 11:55am Jun 24, 2014 11:55am
Quoting ffleo
{quote} this should be a long term trade to build. It may go up and down in zig-zag moves. So hold part of the shorts for long term, and rinse and repeat (scale in and out) the other part of the shorts.

agree, cable may test 1.7 again in following days, but right now it's time for a correction. falling through the downtrend should be the same as the moves in recent uptrend in zig-zag fashion.
"The secret of politics? Make a good treaty with Russia." Otto von Bismarck
  • #383,542
  • Jun 24, 2014 11:57am Jun 24, 2014 11:57am
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Ghost Rider - WWTBMD?
  • #383,543
  • Jun 24, 2014 11:58am Jun 24, 2014 11:58am
Sentiment
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Score
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  • #383,544
  • Jun 24, 2014 12:03pm Jun 24, 2014 12:03pm
GU overview

MTF weekly to 5 min

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  • #383,545
  • Jun 24, 2014 12:13pm Jun 24, 2014 12:13pm
GU Daily

Candle chart shows bearish (topping) price action indicating an ST top is in
200 / 50 sma are well diverged PA trades above both and both are angled up therefore this remains a strong technical uptrend
The ST corrective bearish PA may test support @ 1.69 during the week

stochs - reveal nothing
RSI = overbought with some divergence, forecasting some pullback can be expected with choppy to bearish price action

no technical structures of interest, good luck bears seems in your favour next support is 1.69 resistance holds at 1.70631

I believe the bears have control

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Trade safe

Good luck
  • #383,546
  • Jun 24, 2014 12:19pm Jun 24, 2014 12:19pm
FTSE 100 cash contract

Daily
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Bearish reacting to trip / double top

ongoing bearish equities

seasonally weak equities, sends value hunters to commodities and treasuries...

Now if someone would throw a cot chart on, I think we'll see some hedging to the downside
  • #383,547
  • Jun 24, 2014 12:21pm Jun 24, 2014 12:21pm
closing long . good night,
fortis fortuna adiuvat
  • #383,548
  • Jun 24, 2014 12:23pm Jun 24, 2014 12:23pm


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Bigger bear, getting ready for action...

$S&P 500 future
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Chio!
  • #383,549
  • Jun 24, 2014 1:01pm Jun 24, 2014 1:01pm
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1st target hit lets se if we can get 2 nd target
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  • #383,550
  • Jun 24, 2014 1:19pm Jun 24, 2014 1:19pm
Quoting elbert3
{image} 1st target hit lets se if we can get 2 nd target {image}
What up , Chief....how'd the Apricot party go?
Hear the music before the song is over ...
  • #383,551
  • Jun 24, 2014 1:58pm Jun 24, 2014 1:58pm
Quoting GlobalMacro
{quote} What up , Chief....how'd the Apricot party go?
GM great what a weekend,, suffering is the worse part , i have not been on the thread too much, yesterday ,, well i don't really know what day it is lol,, i need to go back to work, this trading all day is not good for your health.lol , off to bed now GM,, i remain short 905 ish,, se the post along with the rest, friday was very good £££ back in the pot ?? how are you doing sir,?? i hope all is ok, time to take all that money back?? lol..best regards Billy,, ps gl
  • #383,552
  • Jun 24, 2014 2:09pm Jun 24, 2014 2:09pm
Quoting elbert3
{quote} GM great what a weekend,, suffering is the worse part , i have not been on the thread too much, yesterday ,, well i don't really know what day it is lol,, i need to go back to work, this trading all day is not good for your health.lol , off to bed now GM,, i remain short 905 ish,, se the post along with the rest, friday was very good £££ back in the pot ?? how are you doing sir,?? i hope all is ok, time to take all that money back?? lol..best regards Billy,, ps gl
I second that, Billy....Balance is the magic word.

As for me, All good in the hood.... I'm not peeling any off yet though...letting her be clocking some more until further notice....

Alright brother, you have a good rest now & all the best.
Hear the music before the song is over ...
  • #383,553
  • Jun 24, 2014 2:12pm Jun 24, 2014 2:12pm
Quoting Kajos2250
{quote} GU D1 GMT+3 Nothing was changed, i see IB will decide, maybe an fakey again. Nicely trending, WPP first rejected... Good luck! {image} {image} golden ratio ticks {image}
GU D1 GMT+3

Could not close under invalidation ~6980, still in IB mother bar, last peak under testing.
Buy stop .7017 again...

Good luck!
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Anything is math!
  • #383,554
  • Jun 24, 2014 2:17pm Jun 24, 2014 2:17pm
Quoting JimmyC
FTSE 100 cash contract Daily {image} Bearish reacting to trip / double top ongoing bearish equities seasonally weak equities, sends value hunters to commodities and treasuries... Now if someone would throw a cot chart on, I think we'll see some hedging to the downside
Well the GBP/USD CoT data has been showing extreme short positioning from the Commercials whilst the Large / Small Speculators are at 5yr extreme longs.

This hints of bearish prices to come however the chart is still very technically bullish.

Although I got a small short position in today I did take a loss last week overall trying to short this pair too early so I want to see the price trade through the 1.6920 level before I'll be comfortable shorting consistently.

Having said the above I'm no longer trying to pick tops and bottoms so the main indicator I'll be using is the 4hr chart and if we see a bounce around 1.6950-60 tomorrow LO then I'll be trading the long side.
BudFX
  • #383,555
  • Jun 24, 2014 3:09pm Jun 24, 2014 3:09pm
Lower median line and lower trendline intersect around 1.6860...I think very doable
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  • #383,556
  • Jun 24, 2014 6:17pm Jun 24, 2014 6:17pm
This pair is well behaved lately compared to the Eur/usd who respects nothing!
Taking responsibility means believing that your outcomes are self-generated
  • #383,557
  • Jun 24, 2014 10:06pm Jun 24, 2014 10:06pm
Gidday GBP/US

Dam bit the bullet on some

longs above 1.70

More than likely zoom back up again

Kept a couple running to 1.70+
  • #383,558
  • Jun 24, 2014 10:30pm Jun 24, 2014 10:30pm
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Morning all still short looks like we are in this ;little down channel on the 15, 16905 is first major targets 60,26, is resistance ultimately the 10 ema 0n the week would be great
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  • #383,559
  • Jun 24, 2014 10:46pm Jun 24, 2014 10:46pm
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just looking on the day,if we get clear the 10 ema then 28 are is resistance t o the downside, i might look to take some off there depends on the lower tc,
  • #383,560
  • Jun 24, 2014 11:13pm Jun 24, 2014 11:13pm
finally cable bears are back in town. I see this baby going all the way down to 6920 now
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