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Cable Update (GBPUSD)

  • #389,641
  • Jul 29, 2014 7:40am Jul 29, 2014 7:40am
Quoting cspip
{quote} ................................... nah i dont drink.............i like the liver i was born with.............i'll have some Ribena though.......... .....or 'pop'
dont mind me saying but shouldnt u be at school today ?
Or is it summer holidays already

buy zone coming up for sure
  • #389,642
  • Jul 29, 2014 7:40am Jul 29, 2014 7:40am
Quoting albchr
{quote} ... Much like HDA, your input is far too infrequent. I hope all is well with you and yours.
thanks mate.. all is great there..

just hate when I have to explain that taking profit at some levels has nothing to do with long position..
[especially when PA ranging for 4 days at very tight range]

Just different level of Risk Assessment..


@HDA
good job mate.. all the best..
  • #389,643
  • Jul 29, 2014 7:40am Jul 29, 2014 7:40am
Quoting Hickson
While looking across the board, not being into a single trade now, I really think: USD is rigged ^^ The dead presidents are bought as if everyone wanted to go to the Cash Game in Las Vegas tomorrow ... and I do not like trading, if the dollar is pumped. Market is unpredictable for me during these times.
Well, the Fed is anticipated to start raising the interest rates way ahead of ECB, hence the lazy uptrend in USD.
Since the European political and corporate leaders have finally decided to shoot themselves in the foot, and risk another recession with unemployment this is a perfect timing to enter long positions in USD
"Luxury is one of the basic needs", (c), Don Corleone
  • #389,644
  • Jul 29, 2014 7:41am Jul 29, 2014 7:41am
Quoting nAVIN2007
{quote} what drives the market is greed the big nuts love money..so u kinda have to reverse think everything bottom line if u think like the majority u cannot keep money in this..u have to think like yur the shark trying to get the bait and keep this mentality..the game is completely rigged if u ask me many times when think something the complete opposite happens simply because of orders are known and the majority have to lose
Yup, and that is why it is best for me to stay out during these periods until the market becomes a bit clearer again. I do not have the time to analyze all day, so this is too heavy for me and I do not know when it will stop or reverse or whatever. Having no positions is quite comfortable at these times. I will have a look when the dust settles. Just look at Kiwi for example. It is ridiculous. Just crushed through earlier demand. I bet if everyone is short, it will explode like one of these Miguel rockets ...
Fix up, trade sharp ...
  • #389,645
  • Jul 29, 2014 7:43am Jul 29, 2014 7:43am
Selling rallies still looks best
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GBPUSDH4.png Size: 27 KB
Click to Enlarge Name: GBPUSDH41.png Size: 27 KB
Click to Enlarge Name: GBPUSDDaily.png Size: 28 KB
Come with me if you want to live....
  • #389,646
  • Jul 29, 2014 7:43am Jul 29, 2014 7:43am
Quoting Bones
now you can see how accuarate my red line is {quote} {image}
Yes Dollar is in bull phase now for sure. Overall affect on GBP is still bit mixed from weak AUD (GA) and weak CAD (GC) which holds a bit GU from falling harder.
  • #389,647
  • Jul 29, 2014 7:43am Jul 29, 2014 7:43am
Feels like a big bang is coming.

We are near month ends.

I'd rather long than short from here, but need to watch a few levels, 1.6920 and 1.69, if these are not broken then it will be reasonable place to go long and target a retest of 1.7 and 1.7042
  • #389,648
  • Jul 29, 2014 7:44am Jul 29, 2014 7:44am
Quoting Firstboss
{quote} Well, the Fed is anticipated to start raising the interest rates way ahead of ECB, hence the lazy uptrend in USD. Since the European political and corporate leaders have finally decided to shoot themselves in the foot, and risk another recession with unemployment this is a perfect timing to enter long positions in USD
Yes, but I really do not want to buy the USD. It can crash any moment again. Like in March when it shot to the moon just to lose all its gains very shortly after the event of Yellen's blabla. Fundamental reasons in EU are concerning though. Nevertheless, on what is USD strength built then? Everything fine in the land of the free? I doubt it.
Fix up, trade sharp ...
  • #389,649
  • Jul 29, 2014 7:46am Jul 29, 2014 7:46am
what GBP is trying to prove?
  • #389,650
  • Jul 29, 2014 7:47am Jul 29, 2014 7:47am
Quoting Hickson
{quote} Yup, and that is why it is best for me to stay out during these periods until the market becomes a bit clearer again. I do not have the time to analyze all day, so this is too heavy for me and I do not know when it will stop or reverse or whatever. Having no positions is quite comfortable at these times. I will have a look when the dust settles. Just look at Kiwi for example. It is ridiculous. Just crushed through earlier demand. I bet if everyone is short, it will explode like one of these Miguel rockets ...

look at the weekly chart..its crystal clear

connect 3 lows to make a trendline (descending), u will see last weekly candle, closed below the trendline..the movement up today formed a trendline on the upside (descending as well)..there was only one place this mofo was going

hope that helps
  • #389,651
  • Jul 29, 2014 7:50am Jul 29, 2014 7:50am
Attached Image (click to enlarge)
Click to Enlarge Name: 4h.png Size: 113 KB
mr scott will like this one.iknow he looks left before any move ..regards
  • #389,652
  • Jul 29, 2014 7:50am Jul 29, 2014 7:50am
Quoting Hickson
{quote} Yes, but I really do not want to buy the USD. It can crash any moment again. Fundamental reasons in EU are concerning though. Nevertheless, on what is USD strength built then? Everything fine in the land of the free? I doubt it.
Certainly, everything is far from fine in USD, but short-term the relative concerns are in Europe. Longer period of low rates and problems in economy being artificially created due to near-sighted geopolitics as we speak.
"Luxury is one of the basic needs", (c), Don Corleone
  • #389,653
  • Jul 29, 2014 7:50am Jul 29, 2014 7:50am
Cable has been on an almost perfect to the T downtrend the entire week on the 60 min. It has been retracing to the bottom of the channel on both the weekly and daily 1.692-1.690 is the next level to watch and well determine the big trend in the coming week. Tomorrow will be huge day for the dollar.
  • #389,654
  • Jul 29, 2014 7:50am Jul 29, 2014 7:50am
GBPUSD DAILY is overSold.. should see an uprise now..

Attached Image (click to enlarge)
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SpotPip - we SPOT, you PIP
  • #389,655
  • Jul 29, 2014 7:51am Jul 29, 2014 7:51am
Gbp/cad is doing a reversal. Shorts flipped to longs. Usd/cad. Support [email protected]
  • #389,656
  • Jul 29, 2014 7:51am Jul 29, 2014 7:51am
your right Nav
actually these are the easiest conditions to trade

Quoting nAVIN2007
{quote} look at the weekly chart..its crystal clear connect 3 lows to make a trendline (descending), u will see last weekly candle, closed below the trendline..the movement up today formed a trendline on the upside (descending as well)..there was only one place this mofo was going hope that helps
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #389,657
  • Jul 29, 2014 7:52am Jul 29, 2014 7:52am
Quoting Dr.Zain
what GBP is trying to prove?
just getting to the lower end of LT uptrend channel...my tp is 16918, below that it's a major downtrend....but nothing to do with US...probably more with EUR and interest rates
  • #389,658
  • Jul 29, 2014 7:53am Jul 29, 2014 7:53am
Quoting Piters
{quote} thanks mate.. all is great there.. just hate when I have to explain that taking profit at some levels has nothing to do with long position.. [especially when PA ranging for 4 days at very tight range] Just different level of Risk Assessment.. @HDA good job mate.. all the best..
Why bother explaining really? Everybody has their frame of reference to go by and from what I've seen, nobody is ever likely to change that. So it's exactly the way it should be I reckon.

I enjoy all the different views and methods of trading we see here. Doesn't mean I have to agree/disagree with any of them or change mine. I see it all as an advantage really. Having a grasp of all the different levels of trading just means we're better prepared to deal with each as we reach them. It's all good.
Ghost Rider - WWTBMD?
  • #389,659
  • Jul 29, 2014 7:55am Jul 29, 2014 7:55am
Quoting ill_be_back
{quote} Right now I am SHORT if it breaks todays High I will be OUT, On the DOWN side i am looking at 1.69535 then bounce up for retest then more DOWN to 1.69348
Jackpot
A good trader follows his rules, but great trader knows when to break them
  • #389,660
  • Jul 29, 2014 7:56am Jul 29, 2014 7:56am
Quoting nAVIN2007
{quote} look at the weekly chart..its crystal clear connect 3 lows to make a trendline (descending), u will see last weekly candle, closed below the trendline..the movement up today formed a trendline on the upside (descending as well)..there was only one place this mofo was going hope that helps
Attached Image (click to enlarge)
Click to Enlarge Name: week.png Size: 103 KB
as i said last time it hit ,price likes 20 ema,,
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Gbpusdfreakk
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