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Cable Update (GBPUSD)

  • #388,481
  • Jul 23, 2014 9:19am Jul 23, 2014 9:19am
Quoting cspip
{quote} {quote} Now after 1.7024, if it does go up, could be 1.7064 or upto 1.7077
May not get to 1.7064 or 1.7077............yet

Taking a short from here 1.7042
  • #388,482
  • Jul 23, 2014 9:23am Jul 23, 2014 9:23am
A very probable scenerio of GBPUSD : that the corrective pattern developed in the last 3 weeks shown on the wave count as wave (iv) is just waiting to be retraced completely.
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Click to Enlarge Name: GBPUSDH1 03.png Size: 43 KB
Elliott Wave for optimum entry, exit and risk management of trades
  • #388,483
  • Jul 23, 2014 9:23am Jul 23, 2014 9:23am
Quoting Nate04
{quote} Question for you HDA. How does news events, like Carney running his yapper about interest rates effect your position, if at all? Just curious...
@Nate04:

I'm a position trader - I'm not moved by the daily fluctuations in the market. I do not trade news. My trades are placed based on current facts.

If there is a change in current facts, then one has to be prepared.

Nothing is cast in stone.

Please see post, dated, Monday, March 31, 2014 at 2:56am
http://www.forexfactory.com/showthre...41#post7372941

HDA OUT
  • #388,484
  • Jul 23, 2014 9:23am Jul 23, 2014 9:23am
Quoting HDA
GBP/USD Update Options Expiry for Thursday, July 24, 2014 at 10am Eastern 1.7095 -pay out $200 million 1.7020 -pay out $159 million 1.7000 -pay out $347 million 1.6900 -pay out $350 million 1.7190 - HDA short 1.7100 -Strong Strong Offers 1.7045 - HDA short 1.7020 -Strong Bids 1.7010 -Strong Bids 1.6900 -HDA's Take Profit HDA OUT
Hmmmm.... isn't that interesting. I have no access to such facts but that's the number I saw as my take notice level from just the charts.

Quoting albchr
{quote} After seeing this PA structure, I'd be happy to see anything just short of breaking 7100.
Thank You HDA. I guess that just confirms that anyone who's looking see's the same levels.
Ghost Rider - WWTBMD?
  • #388,485
  • Jul 23, 2014 9:28am Jul 23, 2014 9:28am
Quoting albchr
{quote} Hmmmm.... isn't that interesting. I have no access to such facts but that's the number I saw as my take notice level from just the charts. {quote} Thank You HDA. I guess that just confirms that anyone who's looking see's the same levels.
BRN adds confluence. Most can not think of an original idea, so you will find them there.

You can see the orders on your chart.

Edit: As an example, look at UCAD.
The world you desire can be won. It exists.. it is real.. it is possible..
  • #388,486
  • Jul 23, 2014 9:29am Jul 23, 2014 9:29am
Quoting albchr
{quote} Hmmmm.... isn't that interesting. I have no access to such facts but that's the number I saw as my take notice level from just the charts. {quote} Thank You HDA. I guess that just confirms that anyone who's looking see's the same levels.
You're expecting it to go to 1.7100 ?
  • #388,487
  • Jul 23, 2014 9:34am Jul 23, 2014 9:34am
Quoting albchr
{quote} Hmmmm.... isn't that interesting. I have no access to such facts but that's the number I saw as my take notice level from just the charts. {quote} Thank You HDA. I guess that just confirms that anyone who's looking see's the same levels.
@albchr:

You're welcome

HDA OUT
  • #388,488
  • Jul 23, 2014 9:36am Jul 23, 2014 9:36am
If it hangs around 1.7030 may take another long to try for 1.7065 ish again........
  • #388,489
  • Jul 23, 2014 9:37am Jul 23, 2014 9:37am
Quoting Mr. Scott
{quote} BRN adds confluence. Most can not think of an original idea, so you will find them there. You can see the orders on your chart. Edit: As an example, look at UCAD.
Haha! Gotcha Mr. Scott.
Ghost Rider - WWTBMD?
  • #388,490
  • Jul 23, 2014 9:39am Jul 23, 2014 9:39am
Quoting albchr
{quote} Haha! Gotcha Mr. Scott.
Yes, very good and also look below, there is another one.
The world you desire can be won. It exists.. it is real.. it is possible..
  • #388,491
  • Jul 23, 2014 9:48am Jul 23, 2014 9:48am
Quoting cspip
{quote} You're expecting it to go to 1.7100 ?
I "expect" nothing cspip. I only map the S&D levels as best I can and then "follow" PA (not guess or predict) to see what is "likely" to happen.

Most times.....oh say the old proverbial 70% to 80% of times, that works very well. Short of the facts that HDA has available, I'm learning that reading the very structure of PA is key to "following" it correctly.

It's why you see me consistently referring to "structure" and why, as of yesterday, I had little doubt I could build those shorts even with them going red first for today's fall. That same structure on a larger scale is why I will sell rallies and not buy dips in this current situation.
Ghost Rider - WWTBMD?
  • #388,492
  • Jul 23, 2014 9:51am Jul 23, 2014 9:51am
Quoting Mr. Scott
{quote} Yes, very good and also look below, there is another one.
I know I'm very tired but, you refer to 300ish? or so? I may have to wipe my eyes some more... lol
Ghost Rider - WWTBMD?
  • #388,493
  • Jul 23, 2014 9:52am Jul 23, 2014 9:52am
Quoting HDA
{quote} @Nate04: I'm a position trader - I'm not moved by the daily fluctuations in the market. I do not trade news. My trades are placed based on current facts. If there is a change in current facts, then one has to be prepared. Nothing is cast in stone. Please see post, dated, Monday, March 31, 2014 at 2:56am http://www.forexfactory.com/showthre...41#post7372941 HDA OUT
Thanks... So one last question for you. When you take a position, do you set a initial stop loss, or do you leave it open based on the facts presented? I don't believe I've seen a post from you saying a certain point where you call it quits and accept a loss. Of course, you may have posted it and I missed it. Wouldn't be the first time. Anyways, in the time I've seen you posting here, you haven't dealt with a loss yet, so thats a great thing all in its own.
  • #388,494
  • Jul 23, 2014 9:56am Jul 23, 2014 9:56am
Quoting albchr
{quote} I know I'm very tired but, you refer to 300ish? or so? I may have to wipe my eyes some more... lol
I see 1.0695 right now.
The world you desire can be won. It exists.. it is real.. it is possible..
  • #388,495
  • Jul 23, 2014 10:08am Jul 23, 2014 10:08am
Quoting Mr. Scott
{quote} I see 1.0695 right now.
Oh, forgive me. I thought we were talking a larger scale. Yes I have 1.0692, then a close (weaker) one at 1.0679, then obviously 1.0629. Above I see 1.0793 and then the hard one at 1.0821.
Ghost Rider - WWTBMD?
  • #388,496
  • Jul 23, 2014 10:11am Jul 23, 2014 10:11am
Quoting Nate04
{quote} Thanks... So one last question for you. When you take a position, do you set a initial stop loss, or do you leave it open based on the facts presented? I don't believe I've seen a post from you saying a certain point where you call it quits and accept a loss. Of course, you may have posted it and I missed it. Wouldn't be the first time. Anyways, in the time I've seen you posting here, you haven't dealt with a loss yet, so thats a great thing all in its own.
@Nate04:

No sir, I had a loss of 60pips since the start of this year, when I decided to day trade with elbert3, while I was holding my GBP/USD long to 1.7000.

I went short day trading with elbert3 using another account and lost 60 pips.

We'll I actually broke even, so you are correct, no losses since the start of the year.

Please see previous posts, dated, Friday, February 28, 2014 at 4:56am
http://www.forexfactory.com/showthre...26#post7310526 - HDA's explanation of trading style
http://www.forexfactory.com/showthre...78#post7310578 - HDA's trade
http://www.forexfactory.com/showthre...21#post7310621 - HDA stopped out

HDA OUT
  • #388,497
  • Jul 23, 2014 10:25am Jul 23, 2014 10:25am
Quoting HDA
{quote} @Nate04: No sir, I had a loss of 60pips since the start of this year, when I decided to day trade with elbert3, while I was holding my GBP/USD long to 1.7000. I went short day trading with elbert3 using another account and lost 60 pips. We'll I actually broke even, so you are correct, no losses since the start of the year. Please see previous posts, dated, Friday, February 28, 2014 at 4:56am http://www.forexfactory.com/showthre...26#post7310526 - HDA's explanation of trading style http://www.forexfactory.com/showthre...78#post7310578...

off topic but,,,

would be very thankful if you give your views on EurUsd
  • #388,498
  • Jul 23, 2014 11:09am Jul 23, 2014 11:09am
there is no trade ,please show us how big your trading to sit on negitive for weeks , theres no parameters in trade plan ,
simply put its very unlikely your be wrong that price will eventully be touched at some point

Quoting HDA
{quote} @Hickson: Everything comes with time. As I have been sharing before, the key to trading the forex is understanding factually, why the market is doing what its doing. Only Trade Facts. Traders use indicators as a guide or edge to trading profitably and it works for some. Traders use fundamentals and it works for some Traders just guess and it works for some. But just imagine, you knowing the facts, while being guided by price action. Imagine where that can take you. Imagine the level of confidence you will have holding your trade, because...
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #388,499
  • Jul 23, 2014 11:19am Jul 23, 2014 11:19am
Position traders ; Pocket shall be deep and one shall be patient for weeks to see green pips.

Intra day traders : One needs to have great discipline and identify entry exit points correctly + can not hold loosing positions for ever. Having a right system, profit potential is more compared to position traders.

Some Intra day traders continue to hold loosing positions and turn out to be Position traders as they do not want to take losses.

Every trader must know what kind of traders they are.
Intraday only.
  • #388,500
  • Jul 23, 2014 11:29am Jul 23, 2014 11:29am
right thanks for the advise ,kiss this blokes arse you guys ,I don't know why he does it maybe he's not all that bad just likes it ,haha

Quoting navk
Position traders ; Pocket shall be deep and one shall be patient for weeks to see green pips. Intra day traders : One needs to have great discipline and identify entry exit points correctly + can not hold loosing positions for ever. Having a right system, profit potential is more compared to position traders. Some Intra day traders continue to hold loosing positions and turn out to be Position traders as they do not want to take losses. Every trader must know what kind of traders they are.
On-site guru & also FF member's' psychiatrist, when not drinking tea
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