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Cable Update (GBPUSD)

  • #388,981
  • Jul 25, 2014 8:46am Jul 25, 2014 8:46am
Quoting albchr
{quote} I see nothing....


Good because it keeps getting worse.

No pretty pictures, no explanation just levels for now. Still need more information.
Attached Image (click to enlarge)
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The world you desire can be won. It exists.. it is real.. it is possible..
  • #388,982
  • Jul 25, 2014 8:49am Jul 25, 2014 8:49am
Quoting albchr
{quote} Yes, atm they are moving in tandem so GU going nowhere. GJ, UJ and U/CHF are dropping some. One of them will give sooner or later. My target for GU remains 6930/00 and more. I was just thinking a small retrace today. Maybe not.
As I said I do not wish to carry open positions overnight, I am a day trader, today is Friday too.

Happy with 25 pips.
Intraday only.
  • #388,983
  • Jul 25, 2014 8:53am Jul 25, 2014 8:53am
Quoting OnlineAddict
Today is boring...I will try to enter on monday-tuesday, targetting 7140, have a good weekend everyone.
don't know from where you come up with those levels especially when euro is struggling
  • #388,984
  • Jul 25, 2014 8:55am Jul 25, 2014 8:55am
Quoting giveachance
{quote} don't know from where you come up with those levels especially when euro is struggling
They only influence each other on intra-day basis, not long term. When euro was 1.3990, cable was 1.6980. Why are your levels more valid than mine? If you want to keep shorting, I won't tell you not to and I won't question it. I want to go long, thats all.

Looks like 1.70 might come for a quick short scalp.
Everyone can see the chart, but only a few can actually read it.
  • #388,985
  • Jul 25, 2014 8:57am Jul 25, 2014 8:57am
GU may be ready to break out for a run long here. But don't like trading at this time on Friday and EU is showing weakness. Have a current long position executed at 69815. Moving stop to lock profit.

All my EU shorts have been closed
  • #388,986
  • Jul 25, 2014 9:02am Jul 25, 2014 9:02am
all it happens (falling during 7 days) because of waiting BOE will grow up rates and Cameron makes some sanctions to russian guys like anramovich e.t.c. Sure they will take they big money from eglish accounts and economy. So traders prefer to sell cable.
  • #388,987
  • Jul 25, 2014 9:09am Jul 25, 2014 9:09am
Quoting Mr. Scott
{quote} Good because it keeps getting worse. No pretty pictures, no explanation just levels for now. Still need more information. {image}
I go to the store and come back and what do I see?? Not for me! .. hehe... ....

If it breaks 7000 I'll be amazed. Happy but amazed.
Ghost Rider - WWTBMD?
  • #388,988
  • Jul 25, 2014 9:13am Jul 25, 2014 9:13am
Quoting navk
{quote} As I said I do not wish to carry open positions overnight, I am a day trader, today is Friday too. Happy with 25 pips.
...
Ghost Rider - WWTBMD?
  • #388,989
  • Jul 25, 2014 9:21am Jul 25, 2014 9:21am
Quoting albchr
{quote} As long as it's working for ya. The only thing I questioned to myself was the SL. Being the next decent SR is 6997 (now a small sub level at 6992), I thought that a bit tight. I thought man, if it goes his way it "might" just grab that stop beforehand. I really hate it when that happens....LOL Anyway, whatever the noise is, it's sure to cause some small spiking I'd imagine.
A little surprised that new sub level at 6992 held actually.
Attached Image
Ghost Rider - WWTBMD?
  • #388,990
  • Jul 25, 2014 9:22am Jul 25, 2014 9:22am
Quoting Nate04
I wish this thing would just get going one way or the other. I really don't want to hold this trade all weekend.

Hey Nate: I almost never hold over the weekend or over night.

Price has been pretty tough to call the last several weeks. Normal for this time of the year. Most of my trades have been glorified scalps. You mentioned you woke up last night to place a trade then have trouble going back to sleep. Then felt like shit when you arrived at work.

I frequently had the same experience, but made a commitment to never hold positions overnight or the weekend. You miss trades, for me I generally miss the European market open trade that is frequently a winner. But there is usually a trade opportunity after US red news clears. Took it today on the EU yesterday on the AU. I generally only trade the EU and GU.

I have gravitated to becoming an intraday trader to avoid sleep issues. No matter what, if I have a trade open at night, it stays in the back of my head and it affects my sleep.

This game ain't worth ruining your health. I use to stare at screens and hold trades overnight. no more. Took 4 years to figure that out. I guess I am a slow learner.

Have a nice weekend.
  • #388,991
  • Jul 25, 2014 9:22am Jul 25, 2014 9:22am
Quoting albchr
{quote} A little surprised that new sub level at 6992 held actually. {image}
Cable can do crazy things when volume is down on friday...it might surprise everyone during the last few hours.
Everyone can see the chart, but only a few can actually read it.
  • #388,992
  • Jul 25, 2014 9:25am Jul 25, 2014 9:25am
Quoting albchr
{quote} A little surprised that new sub level at 6992 held actually. {image}
Attached Image (click to enlarge)
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does one take the short ??? lol
  • #388,993
  • Jul 25, 2014 9:27am Jul 25, 2014 9:27am
This 5M could spell it out here. I see plenty of supply above and little demand below so the little retrace I was seeing this morning may have just happened already.
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Ghost Rider - WWTBMD?
  • #388,994
  • Jul 25, 2014 9:28am Jul 25, 2014 9:28am
GU long went break even. Did score a few pips on the EU though.

I am out, done for the week. 6 wins, 1 loss, 3 break even trades. Not bad for being on vacation for Monday and Tuesday.

Cheers
Attached Image(s) (click to enlarge)
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  • #388,995
  • Jul 25, 2014 9:28am Jul 25, 2014 9:28am
Quoting elbert3
{quote} {image} does one take the short ??? lol
... but this one waits for his stop to be hit first at least...lol
Ghost Rider - WWTBMD?
  • #388,996
  • Jul 25, 2014 9:30am Jul 25, 2014 9:30am
Quoting pipster1
GU long went break even. Did score a few pips on the EU though. I am out, done for the week. 6 wins, 1 loss, 3 break even trades. Not bad for being on vacation for Monday and Tuesday. Cheers {image} {image}
... Sounds like a good week.
Ghost Rider - WWTBMD?
  • #388,997
  • Jul 25, 2014 9:32am Jul 25, 2014 9:32am
I think he means bearish consolidation to the end of bearish week


Quoting albchr
{quote} What {image} {image}
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #388,998
  • Jul 25, 2014 9:32am Jul 25, 2014 9:32am
Quoting albchr
{quote} ... but this one waits for his stop to be hit first at least...lol
It looks just test of resistance and slapped down. Does not mean it will again make a try.

If the second try fails, then may be 6920 but unlikely as we have seen Mondays are retracement days and not trending days.
Intraday only.
  • #388,999
  • Jul 25, 2014 9:34am Jul 25, 2014 9:34am
A little Bonus.

My autotrader took this one. Will move to BE and close automatically 2 hours before market close.

EJ short
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  • #389,000
  • Jul 25, 2014 9:34am Jul 25, 2014 9:34am
Quoting Bones
I think he means bearish consolidation to the end of bearish week {quote}
LOL... nice after thought.
Ghost Rider - WWTBMD?
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