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Cable Update (GBPUSD)

  • #384,461
  • Jun 30, 2014 9:44am Jun 30, 2014 9:44am
Quoting Jenx
{quote} Bull trap? I'm convinced! {image}
LOL
Attached Image
Trade at your own risk.
  • #384,462
  • Jun 30, 2014 9:50am Jun 30, 2014 9:50am
Quoting Davit
{quote} GU was going down until 6am then all coordinated attack. I suspect and its obvious London was selling Sterling but NY totally dumped the USD.So much for patriotism.... lol Only silver lining NU did not join the pack. I guess Yellen did a good job of being as lame duck as possible. Cheap USD =more services sold oversees and better for Economy meanwhile each cent increase on Euro kills roughly 10k jobs in France.
Well, I've made no secret about my feelings of our beloved ...cough.... BUCK! my friend. Since we're all about confluence and were ARE in a very strong bull trend, a bit of what I keep in the big picture here. I'll still fade the pullbacks whenever I can and trying now but....this chart speaks volumes to me and rather loudly as it has for some time now. We just pierced yet another double FIB.

1.74071 is dead center of the trio above. Let's see what happens in the new and coming months. Up or down, I'm in... ... just hope I'm right when I do.... ...lol
Attached Image (click to enlarge)
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Ghost Rider - WWTBMD?
  • #384,463
  • Jun 30, 2014 9:50am Jun 30, 2014 9:50am
Quoting ffleo
{quote} you are not wrong. Big speculative funds are loaded with the dollar, for it to go up. {image}
someone sent me a PM asking what are commercial, large and small specs.

Commercial = Large firms (corporates) and banks (market makers)
large specs = large funds (hedge funds, prop desks, Commodity trading advisers,)
small specs= we retail traders.

The chart I posted is US dollar chart and its COT chart at the bottom.

The FX market is driven by large speculators, which suck on commercials for profit. Large corporations always lose money, their goal is not to make profit from the FX market. But they need foreign currency to do business, just like they pay premium to get foreign currency. Big banks make money from spread, not by speculating.
ignore wackos and psychos, including myself. But I can't add myself to iggy
  • #384,464
  • Jun 30, 2014 9:53am Jun 30, 2014 9:53am
Quoting Darkforce
Move like this could always been a bull trap. Combination of Monday+month end+quarter end+NFP week, market could be buying rumour.
One should not fight with the trend, I fought with the trend assuming that 7062 is the sky limit, now I am thinking to exit from short around that area.
Intraday only.
  • #384,465
  • Jun 30, 2014 9:56am Jun 30, 2014 9:56am
Quoting ffleo
{quote} good, I am not the only one to come out beating him up (Jimm) for his ridiculous things. Where does the freaking 1.74 come from?
My friend, why on Earth would anyone want to beat up on Jimmy?? Solid guy, solid trader, unbiased view that follows what's happening is all. I respect you both bro. I'll watch Jimmy with a keen eye any day. Not taking sides, just my 2 cents.
Ghost Rider - WWTBMD?
  • #384,466
  • Jun 30, 2014 9:57am Jun 30, 2014 9:57am
Quoting ffleo
{quote} someone sent me a PM asking what are commercial, large and small specs. Commercial = Large firms (corporates) and banks (market makers) large specs = large funds (hedge funds, prop desks, Commodity trading advisers,) small specs= we retail traders. The chart I posted is US dollar chart and its COT chart at the bottom. The FX market is driven by large speculators, which suck on commercials for profit. Large corporations always lose money, their goal is not to make profit from the FX market. But they need foreign currency to do business, just...
good info.
Intraday only.
  • #384,467
  • Jun 30, 2014 9:58am Jun 30, 2014 9:58am
Quoting albchr
{quote} My friend, why on Earth would anyone want to beat up on Jimmy?? Solid guy, solid trader, unbiased view that follows what's happening is all. I respect you both bro. I'll watch Jimmy with a keen eye any day. Not taking sides, just my 2 cents.
sometimes he ridicules others with insane comments. He insulted me many times for no reasons. But I am not an easy dude to play with.
ignore wackos and psychos, including myself. But I can't add myself to iggy
  • #384,468
  • Jun 30, 2014 10:01am Jun 30, 2014 10:01am
Quoting navk
{quote} One should not fight with the trend, I fought with the trend assuming that 7062 is the sky limit, now I am thinking to exit from short around that area.
the moment you take a loss the moment it makes a turn. Does that sounds familiar?
ignore wackos and psychos, including myself. But I can't add myself to iggy
  • #384,469
  • Edited 10:26am Jun 30, 2014 10:07am | Edited 10:26am
Quoting ffleo
{quote} the moment you take a loss the moment it makes a turn. Does that sounds familiar?
It is familiar to me, It happened in the past too.

But I will get a good entry some time later.
Intraday only.
  • #384,470
  • Jun 30, 2014 10:07am Jun 30, 2014 10:07am
Quoting ffleo
{quote} someone sent me a PM asking what are commercial, large and small specs. Commercial = Large firms (corporates) and banks (market makers) large specs = large funds (hedge funds, prop desks, Commodity trading advisers,) small specs= we retail traders. The chart I posted is US dollar chart and its COT chart at the bottom. The FX market is driven by large speculators, which suck on commercials for profit. Large corporations always lose money, their goal is not to make profit from the FX market. But they need foreign currency to do business, just...
Thanks for the clarification. Much appreciated!
  • #384,471
  • Jun 30, 2014 10:15am Jun 30, 2014 10:15am
cup n handle + inverted H&S + end close of month .....
O Lord have mercy on me and all Bears on this pair......
A handful of patience is worth a bushel of brains
  • #384,472
  • Jun 30, 2014 10:16am Jun 30, 2014 10:16am
Quoting ffleo
{quote} sometimes he ridicules others with insane comments. He insulted me many times for no reasons. But I am not an easy dude to play with.
Awwww.... you're just a big ffleo .... I know it.... ....
Ghost Rider - WWTBMD?
  • #384,473
  • Jun 30, 2014 10:27am Jun 30, 2014 10:27am
Quoting TauTrader
Good day, Got my fingers in all sorts of pies.. Not wanting to ride the short bus hollow - I do believe we are approaching a leg down scenario on the daily GU chart. Could run up more - no doubt - but we could end up beating the previous H:L @ 1.6950 area.. Also have a short on EU where the 1hr is doing a retracement move - hope to see that work. Then there is USDCAD - that will pay handsomely to the north on day.. ( few weeks perhaps?) Currently @ 1.06178 but looking to see her back at 1.0805 in the not too distant future. All the best
6920/6850

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ignore wackos and psychos, including myself. But I can't add myself to iggy
  • #384,474
  • Jun 30, 2014 10:30am Jun 30, 2014 10:30am
Quoting Jenx
{quote} I am convinced! Not a big deal. My net short is now 1.7071. I am trying to call the top. I called the bottom nearly a year ago ,however it did cost me a few quid.That position (1.5852) is still (just) larger than my short which I started to build a couple of weeks ago.At one point it was 1.5050. When this pair made its move I found myself ,not in the mix but looking up from the bottom. Obviously I feel that this latest move up is a last gasp and thats why I'm building my short position.Gonna wait for a bit of confirmation before I start...
Totally Tubular
  • #384,475
  • Jun 30, 2014 10:32am Jun 30, 2014 10:32am
Quoting ffleo
{quote} 6920/6850 {image}
than 1,73
  • #384,476
  • Jun 30, 2014 10:36am Jun 30, 2014 10:36am
Quoting cspip
{quote} First 1.7090 then up to 1.7126
Lets see what PA will show.
  • #384,477
  • Jun 30, 2014 10:36am Jun 30, 2014 10:36am
Attached Image (click to enlarge)
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  • #384,478
  • Jun 30, 2014 10:59am Jun 30, 2014 10:59am
Quoting Fx3422271
{image}
well done i f...cked my plan out the window today ? always stick to your plan... E
  • #384,479
  • Jun 30, 2014 11:00am Jun 30, 2014 11:00am
trading plan out the window today,,never garden and trade ???

The plan enter on tl os s/r short 8 pip sl, when commission payed pp on,, so this morning plus 30 pips then /

entry 1 at 7057 sl should of been -8 pips now 46 pips down x 2 lot £5, £460 instead of £180,
entry 2, at 7078 sl should of been -8 pips now 25 pips down x 2 lots £5, £250 instead of £180
entry 3, at 7106 sl should of been -8 pips now plus 4 up x 1 lot commission not paid
so because you don't keep to your plan £360, lose now becomes £710 less this morning profit £150 i would of been down only £210 now £560

stick to your plan
  • #384,480
  • Jun 30, 2014 11:18am Jun 30, 2014 11:18am
Quoting albchr
{quote} My friend, why on Earth would anyone want to beat up on Jimmy?? Solid guy, solid trader, unbiased view that follows what's happening is all. I respect you both bro. I'll watch Jimmy with a keen eye any day. Not taking sides, just my 2 cents.
Nothing to add. You talk decent stuff to him, he replies with decent stuff.
Fix up, trade sharp ...
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