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Cable Update (GBPUSD)

  • #387,961
  • Jul 18, 2014 8:06am Jul 18, 2014 8:06am
Quoting cspip
{quote} 2 in one day! .......was waiting for that for 3 days
Freaking power went out so I missed the real entry. But managed to join the party late
  • #387,962
  • Jul 18, 2014 8:09am Jul 18, 2014 8:09am
Quoting pipster1
will the EU follow?

There goes the EU
Attached Image (click to enlarge)
Click to Enlarge Name: There_goes_the_EU.png Size: 16 KB
  • #387,963
  • Jul 18, 2014 8:11am Jul 18, 2014 8:11am
Quoting OnlineAddict
Eur wants to go higher...if it breaks 3540, I will buy the pullback towards 3515-20.
Wow, didn't expect the euro to break such important barrier on a friday. Somebody buying into next week?
Everyone can see the chart, but only a few can actually read it.
  • #387,964
  • Jul 18, 2014 8:12am Jul 18, 2014 8:12am
Hit TP on EU just above 1.3500. But it sliced right through that level. Too conservative on my TP today, but it has been a good week
  • #387,965
  • Jul 18, 2014 8:14am Jul 18, 2014 8:14am
Flight to safety probably, but whatever the reason, price action is the guide
  • #387,966
  • Jul 18, 2014 8:16am Jul 18, 2014 8:16am
Quoting pipster1
{quote} There goes the EU {image}
1.3488 should hold it
  • #387,967
  • Jul 18, 2014 8:17am Jul 18, 2014 8:17am
Quoting Nan-ook
{quote} ..hope not
sorry dude...hope you had a tight stop
  • #387,968
  • Jul 18, 2014 8:17am Jul 18, 2014 8:17am
It could be just a SL hunt below 1.35 and up from here.
Everyone can see the chart, but only a few can actually read it.
  • #387,969
  • Jul 18, 2014 8:22am Jul 18, 2014 8:22am
Quoting champoooy
{quote} You are right, it will cost me spread since it's an additional transaction. Since what you were telling awhile ago that it fluctuates within range. So basically, it's simply: , assuming the spread is 2.4pip. e.g. If I go SHORT, I sell 0.02 which costs me $0.48. If I close sell (meaning i buy to close it) it will cost me another 0.48, so that's 0.96. Then go LONG, buy again another 0.02 and sell higher which will cost me another 0.96. A total of .08 volume traded. No difference if you do the hedge. Either way, it'll still cost the same. Tell...
u know Champ i gonna look into this .. i totally agree your correct - perhaps just another way of re inventing the wheel again .. :nerd:
  • #387,970
  • Jul 18, 2014 8:24am Jul 18, 2014 8:24am
Quoting spinozagr
{quote} well things constantly change... the bullish pattern has been replaced by a bearish dragon pattern... IMO no doubt we are printing new lows in the upcoming weeks Venceremos

Definitely now... was either going to be a break of 17043 quarterly level or try and get back too 17160 area... over weekend and Monday.. filling weekly wick ity would have left this evening... now expecting shorts to continue next week around 17090/17105 area
  • #387,971
  • Jul 18, 2014 8:25am Jul 18, 2014 8:25am
I am now looking for a pullback sell on both pairs EU and GU. I am seeing 134720 as a key line on the EU

although it appears this sell may have legs.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: 2014-07-18_supt.png Size: 19 KB
  • #387,972
  • Jul 18, 2014 8:30am Jul 18, 2014 8:30am
gbp fall is bcoz of carney just went dovish on gbp in one of the newspaper articles going to be published over the weekend. I think it is bullshit and don't fall in this carney trap again.
  • #387,973
  • Jul 18, 2014 8:34am Jul 18, 2014 8:34am
Quoting giveachance
gbp fall is bcoz of carney just went dovish on gbp in one of the newspaper articles going to be published over the weekend. I think it is bullshit and don't fall in this carney trap again.
Could be..then why did the Euro dump?
  • #387,974
  • Jul 18, 2014 8:35am Jul 18, 2014 8:35am
Quoting pipster1
{quote} Could be..then why did the Euro dump?
Same trap? Too many people were long, most with SLs below 1.35.
Everyone can see the chart, but only a few can actually read it.
  • #387,975
  • Jul 18, 2014 8:35am Jul 18, 2014 8:35am
Quoting RussJ
{quote} Definitely now... was either going to be a break of 17043 quarterly level or try and get back too 17160 area... over weekend and Monday.. filling weekly wick ity would have left this evening... now expecting shorts to continue next week around 17090/17105 area
yeap thats true...

friday today...

i decided to close the position... noone die from less profit

Have a nice weekend to all

Venceremos
Attached Image (click to enlarge)
Click to Enlarge Name: 0WBGrwC.png Size: 46 KB
The good thing with the future is that it is progressively approaching...
  • #387,976
  • Jul 18, 2014 8:35am Jul 18, 2014 8:35am
Quoting giveachance
gbp fall is bcoz of carney just went dovish on gbp in one of the newspaper articles going to be published over the weekend. I think it is bullshit and don't fall in this carney trap again.
I think the same, they want to trap people into shorts and then spike it up to new highs.
Everyone can see the chart, but only a few can actually read it.
  • #387,977
  • Jul 18, 2014 8:35am Jul 18, 2014 8:35am
Quoting pipster1
{quote} Could be..then why did the Euro dump?
euro dump is bcoz of gbp. same is the case with aud and kiwi. all are going to recover by eod
  • #387,978
  • Jul 18, 2014 8:46am Jul 18, 2014 8:46am
Quoting navk
{quote} My system too tells me to short at 1.7110. But only thing is, it is Dead market hours.
Nice analysis.
Intraday only.
  • #387,979
  • Jul 18, 2014 8:49am Jul 18, 2014 8:49am
I stopped trying to answer the question how and why based on what is said in the news long ago. I have lost many trades in the past trying to make logic of what all is said.

Now I try and stay aware of when major news is due out and then trade around it based on price action. I could care less what the experts in government say. Their answer generally involves going deeper into debt.

We shall see how the perpetual debt fueled consumption model pans out in the next few years...or maybe sooner.

Been a good week for me 9 wins 1 break even.

Probably done for the week, unless I see a good short set-up on EU or GU.

Good Luck guys
  • #387,980
  • Jul 18, 2014 8:59am Jul 18, 2014 8:59am
Quoting DerekTrotter
{quote} No sleeping on the Job now Pipster u should know by now 22 hours aday constant is the life of a trader and two hours of for well u know r and r lets just say ..
Dude you have no idea...my girlfriend is ready to break-up with me over this stuff. She thinks it is some type of illegal online gambling run by a criminal organization...

which......is actually a pretty accurate description when you think about it.
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