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Cable Update (GBPUSD)

  • #384,681
  • Jul 1, 2014 11:22am Jul 1, 2014 11:22am
7150 has been reached, 7254 is Monthly R, If current top will hold I will be looking for 1.6895 Q3 pivot point to load up a boat it would make 1.7324 minimum target and 1.7434 as fibs tp.
Anything below 1.6745 means correction,
Still bullish, gl
swing it!
  • #384,682
  • Jul 1, 2014 11:25am Jul 1, 2014 11:25am
Attached Image (click to enlarge)
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  • #384,683
  • Jul 1, 2014 11:27am Jul 1, 2014 11:27am
Quoting navk
If the price closes below 1.7120, then probably tomorrow ranging day and the price could dip below 1.6994 today's low price.
will i get my capital back with next 24hours? i have open short position from 1.6968 my free margin level is 34.
NO PAIN NO GAIN
  • #384,684
  • Jul 1, 2014 11:50am Jul 1, 2014 11:50am
Quoting dinesh2014
{quote} will i get my capital back with next 24hours? i have open short position from 1.6968 my free margin level is 34.
do you have a big capital loss ?? may i ask
  • #384,685
  • Jul 1, 2014 11:54am Jul 1, 2014 11:54am
A couple of years ago I was day-trading pivot points.Never went to bed with an open trade. I was easily doing 2% a day. About 18 months ago I spotted cable bottoming out and decided to change my strategy and go for a long term option. I concentrated all my margin/efforts on building a long position which, although expensive ,eventually came good.My initial position had a net worth of 1.5050 and is now worth 1.5853 due to taking profits and scaling back in. Last couple of weeks I've started to build a short position and that is now eating into the long I worked so hard for.
Once it reaches equilibrium in the next few days I'll shut the whole thing down for somewhere in the region of a net 220% profit.
Staying with what I was doing I would have done that in 4 months as opposed to over 18 months.
lesson learned!
Where price is now, it has been before, and will be again.
  • #384,686
  • Jul 1, 2014 12:07pm Jul 1, 2014 12:07pm
Guys need your help. I have been building the short and manged to average out at 1.7052 but it has obviously increased my position. I only want to come of this as i have learnt a lesson. I am on heaving loss at the moment as obviously this is still 100 pips behind current price. What your views are, would there be any opportunity tommorrow to come out below 1.7052 or you think it will go up more. Yellen is speaking tommorrow as well, will she able to calm down this burn of USD
  • #384,687
  • Jul 1, 2014 12:07pm Jul 1, 2014 12:07pm
Quoting Jenx
A couple of years ago I was day-trading pivot points.Never went to bed with an open trade. I was easily doing 2% a day. About 18 months ago I spotted cable bottoming out and decided to change my strategy and go for a long term option. I concentrated all my margin/efforts on building a long position which, although expensive ,eventually came good.My initial position had a net worth of 1.5050 and is now worth 1.5853 due to taking profits and scaling back in. Last couple of weeks I've started to build a short position and that is now eating into the...
Trade confirmation
On 01-Jul-2014 at 17:04:45 (GMT)
You sold 5GBPUSD @ 1.71619 for value date 03-Jul-2014
Front office position id: 139819178
Account: 5589929

in god we trust ...lol
  • #384,688
  • Jul 1, 2014 12:14pm Jul 1, 2014 12:14pm
Quoting elbert3
{quote} Trade confirmation On 01-Jul-2014 at 17:04:45 (GMT) You sold 5GBPUSD @ 1.71619 for value date 03-Jul-2014 Front office position id: 139819178 Account: 5589929 in god we trust ...lol
I feel like following you pal but for now, I've had enough of trying to short this monkey on my back!
Where price is now, it has been before, and will be again.
  • #384,689
  • Jul 1, 2014 12:15pm Jul 1, 2014 12:15pm
May they want to hit daily 100 pips move?
No emotions, just trade
  • #384,690
  • Jul 1, 2014 12:17pm Jul 1, 2014 12:17pm
Quoting elbert3
{quote} Trade confirmation On 01-Jul-2014 at 17:04:45 (GMT) You sold 5GBPUSD @ 1.71619 for value date 03-Jul-2014 Front office position id: 139819178 Account: 5589929 in god we trust ...lol
the funny thing is when this bitch would turn bearich , no one would notice and they would buy on dips .
Get Rich or Die Tryin
  • #384,691
  • Jul 1, 2014 12:18pm Jul 1, 2014 12:18pm
Quoting hoom
{quote} the funny thing is when this bitch would turn bearich , no one would notice and they would buy on dips .
100%
  • #384,692
  • Jul 1, 2014 12:22pm Jul 1, 2014 12:22pm
Close of play

Cable Daily

The gift that keeps on giving....

Retrace of Feb high to March low suggested 161.8 extension target was 1.704 if the trend continued, the ridiculous strength suggests the 261,8 is now in contention as a swing target 1.74 (I was perhaps to flippant in presenting this last night.

Attached Image


Given the last swing high low if we update the target next Resistance is 1,7193 and the 261 is 1.7503 (surely we must retrace first???) will see what the construction PMI does dunno, if that wont stop it maybe NFP will print a surprise (without surprise revisions)

Revisited extension targets

Attached Image



GU 1H

The hope for me was a pullback to re-test support on this occasion she took option 1 straight through resistance and new multiyear high...

Attached Image


Data release tomorrow to see the way forward but she sure seems to need a retrace but just play the S/R levels

Trade safe
  • #384,693
  • Jul 1, 2014 12:22pm Jul 1, 2014 12:22pm
Quoting cspip
{quote} maybe even 1.7165
Quoting cspip
{quote} could be a bounce from 1.7137 first
Well, thats those two done.......


Now, lets see if it can go for :-
Quoting cspip
past 1.7155 is 1.7171
1.7171......gl
  • #384,694
  • Jul 1, 2014 12:23pm Jul 1, 2014 12:23pm
Quoting hoom
{quote} the funny thing is when this bitch would turn bearich , no one would notice and they would buy on dips .
Lets Hope so Hoom lets hope so ,,gl
  • #384,695
  • Jul 1, 2014 12:24pm Jul 1, 2014 12:24pm
Quoting Jenx
A couple of years ago I was day-trading pivot points.Never went to bed with an open trade. I was easily doing 2% a day. About 18 months ago I spotted cable bottoming out and decided to change my strategy and go for a long term option. I concentrated all my margin/efforts on building a long position which, although expensive ,eventually came good.My initial position had a net worth of 1.5050 and is now worth 1.5853 due to taking profits and scaling back in. Last couple of weeks I've started to build a short position and that is now eating into the...
back to the roots
intraday pivot is a good strategy for a risk-averse trader.

all the best
d1
fortis fortuna adiuvat
  • #384,696
  • Jul 1, 2014 12:25pm Jul 1, 2014 12:25pm
Pivots just fyi

GU 1H

Attached Image
  • #384,697
  • Jul 1, 2014 12:25pm Jul 1, 2014 12:25pm
Quoting sthobani
Guys need your help. I have been building the short and manged to average out at 1.7052 but it has obviously increased my position. I only want to come of this as i have learnt a lesson. I am on heaving loss at the moment as obviously this is still 100 pips behind current price. What your views are, would there be any opportunity tommorrow to come out below 1.7052 or you think it will go up more. Yellen is speaking tommorrow as well, will she able to calm down this burn of USD
Short at that price is safe so long as you're not hugely leveraged. If you are ( 1:50 or more) I'd suggest reducing the position.
Where price is now, it has been before, and will be again.
  • #384,698
  • Jul 1, 2014 12:25pm Jul 1, 2014 12:25pm
Quoting cspip
{quote} {quote} Well, thats those two done....... Now, lets see if it can go for :- {quote} 1.7171......gl
Attached Image (click to enlarge)
Click to Enlarge Name: 5L.png Size: 88 KB
you must be playing off 10 ema ,,yes
  • #384,699
  • Jul 1, 2014 12:28pm Jul 1, 2014 12:28pm
Quoting elbert3
{quote} {image} you must be playing off 10 ema ,,yes

not quite......................and im expecting a bounce frm 1.7153 before 1.7171..........i think
  • #384,700
  • Jul 1, 2014 12:30pm Jul 1, 2014 12:30pm
Quoting cspip
{quote} not quite......................and im expecting a bounce frm 1.7153 before 1.7171..........i think
i would like to see a gb special,, spend days getting up there and all that work wiped out in 30 mins
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