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Cable Update (GBPUSD)

  • #384,541
  • Jul 1, 2014 1:51am Jul 1, 2014 1:51am
Quoting giveachance
{quote} whatever it is. It has finished many accounts. Even if it reverses now i wonder how many people will have the balls to short it near 1.70
all last weeks profit at 50 would be gone then it feels like you have wasted days sitting here,, i dont know how you guys do this for a living day in day out,, i am retired and lately its becoming a drag,, but anything is if your on the wrong side
  • #384,542
  • Jul 1, 2014 1:53am Jul 1, 2014 1:53am
My chart shows 7060 then 7030 minimum. Let us see.
Intraday only.
  • #384,543
  • Jul 1, 2014 1:53am Jul 1, 2014 1:53am
Quoting navk
{quote} They say, be with the trend. But this pair has never retraced to give a long entry. It will drop... for sure, but at what level ? I guess from here to 7060, then below.
If I recall last week it was at 169.5x. Is that not a retrace?
  • #384,544
  • Jul 1, 2014 1:53am Jul 1, 2014 1:53am
Quoting elbert3
{quote} all last weeks profit at 50 would be gone then it feels like you have wasted days sitting here,, i dont know how you guys do this for a living day in day out,, i am retired and lately its becoming a drag,, but anything is if your on the wrong side
I would be a fool to rely on forex trading for my monthly income. it is not my bread and butter
  • #384,545
  • Jul 1, 2014 1:54am Jul 1, 2014 1:54am
Quoting cat
{quote} What are we supposed to take )rom that? No entry, no TP, no rationale. In other words, what is the point??
Entry 7104 tp 713. Currently sell stop at 712 with tp 71. :b
  • #384,546
  • Jul 1, 2014 1:56am Jul 1, 2014 1:56am
Quoting kweiss10
{quote} If I recall last week it was at 169.5x. Is that not a retrace?
no
Intraday only.
  • #384,547
  • Jul 1, 2014 1:56am Jul 1, 2014 1:56am
i think it's possible to 1.7180

i shorted tho. LOL
  • #384,548
  • Jul 1, 2014 1:58am Jul 1, 2014 1:58am
Quoting navk
{quote} no
ok, mind explaing what or how a retrace would look like?
  • #384,549
  • Jul 1, 2014 1:59am Jul 1, 2014 1:59am
Quoting giveachance
{quote} i would be a fool to rely on forex trading for my monthly income. It is not my bread and butter
it does work, but you have to work at it, tooo much , i am going back to my trading plan again if i get out of these 3 ,, i think a little move up to 36 i am going to short 1 more then that's it watch out for that number
Attached Image (click to enlarge)
Click to Enlarge Name: 5L.png Size: 93 KB
  • #384,550
  • Jul 1, 2014 2:07am Jul 1, 2014 2:07am
Quoting navk
My chart shows 7060 then 7030 minimum. Let us see.
I think you are right.
I see the same levels
what happened is just the good PMI

same for EUR/ USD.
  • #384,551
  • Jul 1, 2014 2:08am Jul 1, 2014 2:08am
Short 1.7124 SL+30pips.

It's not that the previous patterns had proved very reliable. On tha other hand, this beast can't climb forever!

Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdh4.png Size: 49 KB
Be water, my friend
  • #384,552
  • Jul 1, 2014 2:11am Jul 1, 2014 2:11am
Quoting kweiss10
{quote} ok, mind explaing what or how a retrace would look like?
Look at the retracement from 7060.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdh4.png Size: 40 KB
Intraday only.
  • #384,553
  • Jul 1, 2014 2:11am Jul 1, 2014 2:11am
Quoting lakhan
{quote} Entry 7104 tp 713. Currently sell stop at 712 with tp 71. :b
Thank you.
  • #384,554
  • Jul 1, 2014 2:15am Jul 1, 2014 2:15am
The thing that scares me is that there is not retrace after hitting multi year high. i mean when first time 16821 was hit, the pair went immediately under 168 and after that moved slowly to 16480 as i remember. now what? Nothing. it is sticked to 171> meaning that nobody wants to sell it yet. or stop hunting, as THEY SEE BIGGER PART OF US IS IN SHORT WITH SL READY TO BE TAKEN.
No emotions, just trade
  • #384,555
  • Jul 1, 2014 2:16am Jul 1, 2014 2:16am
Quoting kweiss10
{quote} ok, mind explaing what or how a retrace would look like?
One more ;

Look at the retracement from 1.7010.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdh4.png Size: 39 KB
Intraday only.
  • #384,556
  • Jul 1, 2014 2:22am Jul 1, 2014 2:22am
Quoting kweiss10
{quote} If I recall last week it was at 169.5x. Is that not a retrace?
One more :

Look at the retracement for the move yesterday.

Not even 23 %
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdm30.png Size: 44 KB
Intraday only.
  • #384,557
  • Jul 1, 2014 2:25am Jul 1, 2014 2:25am
will it come down upto 1.7030? i have 3 short position in this pair (1.7103, 1.7056, 1.6968 )my free margin is -16 at 1.7139. do i need to close all open position or can i wait?
NO PAIN NO GAIN
  • #384,558
  • Jul 1, 2014 2:25am Jul 1, 2014 2:25am
Quoting pouyanv
{quote} Lets see what PA will show.
now 1.7155, maybe
  • #384,559
  • Jul 1, 2014 2:28am Jul 1, 2014 2:28am
In for a penny in for a grand 36 and now a fall back below this morning consoladation would be good
  • #384,560
  • Jul 1, 2014 2:29am Jul 1, 2014 2:29am
It can't continue going north since yesterday.
it must be going down.
any advice? any opinion?
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