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Cable Update (GBPUSD)

  • #385,141
  • Jul 2, 2014 12:19pm Jul 2, 2014 12:19pm
Fast charts doing something interesting

ADP data release caused a gap to open, typically the points identified by the opening and closing positions of the candles involved will then turn into a support and resistance at those levels, its also interesting that if the gap closes easily that this is a reversal signal (uncommon but high probability) the gap close trade between the S/R points is also high probability 90% trade

Obviously on the fast charts the significance is smaller an the effect doesn't last as long but the important thing to note is just the price behaviour around these points as it gives you quite a clearly defined Support and Resistance area the effect is best noted on the 4H and Daily gaps when they occur. EU gap a while back was a very good example...

all well and good... enjoy your evening and if you're working, trade safe.

GU M5

Attached Image
  • #385,142
  • Jul 2, 2014 12:23pm Jul 2, 2014 12:23pm
Quoting TauTrader
{quote} No. Wrong
fall out of bed about now ,, ??? i have been out so i cant finger the trade



Trade confirmation
On 02-Jul-2014 at 11:29:31 (GMT)
You sold 5GBPUSD @ 1.71654 for value date 07-Jul-2014
Front office position id: 139845807
Account: 5589929

trade the fakey Attachment not e the times i posted [attach]1460190[/attach
not as i would of liked it but ???
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  • #385,143
  • Jul 2, 2014 12:24pm Jul 2, 2014 12:24pm
Quoting TauTrader
Ahem.. GU giving me a booty call or whut.. http://www.youtube.com/watch?v=zBL3ty3rPY0
Sir T

given present daily I think that 1.71 will get a visit sometime soon, I'm quite shocked at recent bullishness but the overbought indi's are truly stretched now

The bears be with you

Regards
  • #385,144
  • Jul 2, 2014 12:45pm Jul 2, 2014 12:45pm
Quoting elbert3
{quote} fall out of bed about now ,, ??? i have been out so i cant finger the trade Trade confirmation On 02-Jul-2014 at 11:29:31 (GMT) You sold 5GBPUSD @ 1.71654 for value date 07-Jul-2014 Front office position id: 139845807 Account: 5589929 trade the fakey 1460189 not e the times i posted 1460190[/attach not as i would of liked it but ???[attach]1460441 {image}
Hey Elbert, Wonder if theres a "fakey" set up on the H8?
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Where price is now, it has been before, and will be again.
  • #385,145
  • Jul 2, 2014 1:23pm Jul 2, 2014 1:23pm
Quoting Jenx
{quote} Hey Elbert, Wonder if theres a "fakey" set up on the H8?{image}
Inserted Video
have a look
  • #385,146
  • Jul 2, 2014 1:35pm Jul 2, 2014 1:35pm
Quoting elbert3
{quote} http://www.youtube.com/watch?v=dWQcENLGlPY have a look
Oh I watched it ages ago. Just thinking on H8 we've had an inside close then a move higher which has so far failed to advance.
Where price is now, it has been before, and will be again.
  • #385,147
  • Jul 2, 2014 1:47pm Jul 2, 2014 1:47pm
There is a BB divergence signalling trend topping out and retrace is in order.
Price makes HH but BB bands are actually going away from price
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Attached Image
In trading, you have to be defensive and aggressive at the same time
  • #385,148
  • Jul 2, 2014 1:59pm Jul 2, 2014 1:59pm
Quoting giveachance
{quote} but Carnage isn't worried. he is worried abt mortgage and house prices. looks like he wants to buy a house himself in london
I suppose you mean Carney?

Yeah, London house price is a definitly shocker for a Canadian.
  • #385,149
  • Jul 2, 2014 2:05pm Jul 2, 2014 2:05pm
Quoting Darkforce
{quote} I suppose you mean Carney? Yeah, London house price is a definitly shocker for a Canadian.
You'd think hed want to drive the pound into the floor then and get as many of them to his cad as he could! Lol!
Where price is now, it has been before, and will be again.
  • #385,150
  • Jul 2, 2014 2:49pm Jul 2, 2014 2:49pm
Gidday GBP/US

Still in longs to 1.72+

some set for 1,719 etc

Not adding any new longs

lets see what happens
  • #385,151
  • Jul 2, 2014 3:01pm Jul 2, 2014 3:01pm
Quoting eliteincome
Gidday GBP/US Still in longs to 1.72+ some set for 1,719 etc Not adding any new longs lets see what happens
good job.
In trading, you have to be defensive and aggressive at the same time
  • #385,152
  • Jul 2, 2014 3:05pm Jul 2, 2014 3:05pm
Quoting Davit
There is a BB divergence signalling trend topping out and retrace is in order. Price makes HH but BB bands are actually going away from price {image} {image}

stay strong bro..u will get out of it..i doubt this is going to go up b4 down
  • #385,153
  • Jul 2, 2014 3:07pm Jul 2, 2014 3:07pm
Quoting Jenx
{quote} You'd think hed want to drive the pound into the floor then and get as many of them to his cad as he could! Lol!
he gets an allowance of 66k a month towards housing as part of his salary
(nice work? if you can get it)

on the money he gets paid, you would of thought he could be a bit more coherent about interest rates
  • #385,154
  • Jul 2, 2014 3:19pm Jul 2, 2014 3:19pm
Both GU and EU could break out soon to the upside, GU to about 1.7193, and EU 1.3690 ish

Tomorrows data if breaking down, then GU down to 1.7105 and EU to 1.3585.

After its time for more up next week, to around 1.7232 for GU
  • #385,155
  • Jul 2, 2014 3:25pm Jul 2, 2014 3:25pm
Quoting cspip
Both GU and EU could break out soon to the upside, GU to about 1.7193, and EU 13690ish Tomorrows data if breaking down, then GU down to 1.7105 and EU to 1.3585. After its time for more up next week, to around 1.7232 for GU
Cheers pal.I'll get a long in now.
Where price is now, it has been before, and will be again.
  • #385,156
  • Jul 2, 2014 3:26pm Jul 2, 2014 3:26pm
Quoting cspip
Both GU and EU could break out soon to the upside, GU to about 1.7193, and EU 1.3690 ish Tomorrows data if breaking down, then GU down to 1.7105 and EU to 1.3585. After its time for more up next week, to around 1.7232 for GU
Not saying I disagree but saying nobody knows what will happen for certain as you stated.
I remember I was heavy short on EU at 3950 and folks like yourself were calling 1.42-44 anytime soon...
Regards
In trading, you have to be defensive and aggressive at the same time
  • #385,157
  • Jul 2, 2014 3:29pm Jul 2, 2014 3:29pm
Quoting nAVIN2007
{quote} stay strong bro..u will get out of it..i doubt this is going to go up b4 down
Not happy how I traded last 3weeks. Its mostly negative data on USD specially shocking GDP lot lower then expected took the wind out of USD bulls.
In retrospect after severe long winter,tornadoes (wiped out lot of towns),floods and droughts in California overall numbers is not shocking.We had the worst weather last 6months.
Not justifying my DD but should of been lot more diligent.
Regards
In trading, you have to be defensive and aggressive at the same time
  • #385,158
  • Jul 2, 2014 3:31pm Jul 2, 2014 3:31pm
next major resistance is 1.75 (Monthly chart)

but who really knows what might happen with it being a pre election yr
nr all GBP data seems a bit too to good to be true at the moment
the £ could rise back to 2.0
  • #385,159
  • Jul 2, 2014 3:41pm Jul 2, 2014 3:41pm
Friday is non news day. Sparks to be seen tomorrow. In such case Friday possible self off. 50-50%.

Trade carefully. :nerd:

I still cannot believe we are near 172. Forex is cruel and has not tops and lows. Uk is in best shape ever. Carney sucks
No emotions, just trade
  • #385,160
  • Jul 2, 2014 3:48pm Jul 2, 2014 3:48pm
All this panicking is crazy. We all know where this pair is going to go short term.Unless you're highly leveraged, just keep your hands inside the car and you'll be fine.
Where price is now, it has been before, and will be again.
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