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Cable Update (GBPUSD)

  • #391,241
  • Aug 4, 2014 3:21pm Aug 4, 2014 3:21pm
Quoting albchr
6872 next ....
Attached Image (click to enlarge)
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Ghost Rider - WWTBMD?
  • #391,242
  • Aug 4, 2014 3:33pm Aug 4, 2014 3:33pm
Quoting albchr
{quote} {image}
rather watch paint dry sheeeeeessshhhhhh....this is slower than slow
  • #391,243
  • Aug 4, 2014 3:38pm Aug 4, 2014 3:38pm
Quoting thegmann
{quote} rather watch paint dry sheeeeeessshhhhhh....this is slower than slow
Yep. At this point, it's time to start looking to other pairs. Like AUD, NZD, JPY. Have a little AUD noise coming up later. Maybe there will be some signs of life.

But still, I hate August for trading. Probably just me but it always seems so sloooooooooow... LOL
Ghost Rider - WWTBMD?
  • #391,244
  • Aug 4, 2014 3:54pm Aug 4, 2014 3:54pm
81.40-80 capping
Attached Image (click to enlarge)
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Hear the music before the song is over ...
  • #391,245
  • Aug 4, 2014 3:57pm Aug 4, 2014 3:57pm
watching 6882-6902 level
let's see if it's gonna break it... otherwise it might be a good level to short this cable
  • #391,246
  • Aug 4, 2014 4:07pm Aug 4, 2014 4:07pm
Quoting HDA
{quote} @Rag2RichesFX: Lookie lookie here, if it ain't Rag2RichesFX back in the place. Howzit as JimmyC would say? I'm short to 1.6760 from 1.7190 and 1.7045 I see you are long to 1.6850 - lets hope it gets there. All signs are point down though, but as I always say, Let's See What Happens Just to set the record straight, I am not a GURU HDA OUT
It going great boss. Killing these markets.
Currently long: UC, UJ, EU, EA, NU, AN, EG all +floating

Your target will hit eventually.

I don't want to be long GU, I want to be long EG.
It was just a 20 pip stop trade, with 30 pip target.

Not usually my cup of tea but when I'm 90% sure of success I'll take it.
Typically my stops are 100 pips or greater.

Nobody is a guru. Although I own a website www.goldsilver.guru

Anyone want to buy it?
Be hopeful in a winning position, and fearful in a losing position.
  • #391,247
  • Edited Aug 5, 2014 4:23am Aug 4, 2014 4:22pm | Edited Aug 5, 2014 4:23am
Quoting eliasahmar
watching 6882-6902 level let's see if it's gonna break it... otherwise it might be a good level to short this cable
Like it to stay above 1.6860 and 63 on the (4) hourly for 6902
  • #391,248
  • Aug 4, 2014 4:29pm Aug 4, 2014 4:29pm
Quoting elbert3
{quote} i have a by order on my sl thou dangerous could get spiked out ..
Trade confirmation
On 04-Aug-2014 at 21:24:50 (GMT)
You sold 10 GBPUSD @ 1.68600 for value date 07-Aug-2014
Front office position id: 140486018
Account: 5589929
  • #391,249
  • Aug 4, 2014 4:44pm Aug 4, 2014 4:44pm
What's with all the I bagged 40 pips today as a cheeky intra day trade know knowing I was going to short at 1.6850. the trades are there.
Peace & Pips
  • #391,250
  • Aug 4, 2014 5:29pm Aug 4, 2014 5:29pm
Food for thought:

Notice the marked H1 candle, it actually has one of the highest volumes for last 6 weeks, last time we see that level of volume was on 18th June. I checked a few other platforms, OANDA and FXCM, all the same.

Normally I don't trade VSA stuff, but high volume bar should not be ignored and it could indicate something. Both big engulfing and high volume bars are institutional stuff, and these boys don't do something for nothing.

Also noticed that the Monthly Pivot is at 1.6979, if we still have any bullish moment left, then we should at least check it back once more.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: GBPUSDFXFH1.png Size: 55 KB
  • #391,251
  • Aug 4, 2014 6:03pm Aug 4, 2014 6:03pm
Also, quote from Citi:

"The weekly close below there is therefore important and indicates further losses. The near term support level is 1.6693 followed by 1.6419-60 where the 55 week moving average (rising) effectively converges with the March low," Citi argues.

Citi is my favourite contrarian indicator, they never seem to get it right.
  • #391,252
  • Aug 4, 2014 6:27pm Aug 4, 2014 6:27pm
Quoting Darkforce
Food for thought: Notice the marked H1 candle, it actually has one of the highest volumes for last 6 weeks, last time we see that level of volume was on 18th June. I checked a few other platforms, OANDA and FXCM, all the same. Normally I don't trade VSA stuff, but high volume bar should not be ignored and it could indicate something. Both big engulfing and high volume bars are institutional stuff, and these boys don't do something for nothing. Also noticed that the Monthly Pivot is at 1.6979, if we still have any bullish moment left, then we should...
totally agree with you, this candles in general are a big shift in positions to me, and cannot be ignored
just do it
  • #391,253
  • Aug 4, 2014 9:16pm Aug 4, 2014 9:16pm
Attached Image (click to enlarge)
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Attached Image (click to enlarge)
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Whether you can or you can't, you are both right.
  • #391,254
  • Aug 4, 2014 9:25pm Aug 4, 2014 9:25pm
Cable going back to 1.7
All posts are my personal opinion
  • #391,255
  • Aug 4, 2014 9:57pm Aug 4, 2014 9:57pm
Pending BUY @ 1.68530 SL 1.68400 TP 1.69215
A good trader follows his rules, but great trader knows when to break them
  • #391,256
  • Aug 5, 2014 12:35am Aug 5, 2014 12:35am
Morning all !!!
The best thing that can happen to you is to find out where you're wrong.
  • #391,257
  • Aug 5, 2014 12:59am Aug 5, 2014 12:59am
Sell at 1.6892 tp ? Sl 1.6930
row row row your boat
  • #391,258
  • Aug 5, 2014 1:00am Aug 5, 2014 1:00am
Gidday GBP/US

Dinner time NZ

Opps wrong chart
Attached Image
  • #391,259
  • Aug 5, 2014 1:15am Aug 5, 2014 1:15am
Quoting IveGotQuads
{quote} Do you mind sharing your criteria for pyramiding ? or techniques
Hiya IveGotQuads, sorry I missed this earlier. I enter where I see momentum on the 1h or 4h TF (engulfing, outside bar, pin bar, ADX cross, BRN break/bounce, S/R break/retest etc). I size my trades according to how strong the signal looks to me and how close a previous entry was - there is no science behind the sizing.

It really is as simple as get in to the trades, move to break even and see what happens (that's the hard part - PATIENCE as HDA says). This has been a sweet (although unusual) run, as I would normally expect a number of trades to get knocked out at BE (and probably will do yet). I don't mind small losses or BE trades.

Sometimes there is a lot of wheel spinning to start with before things get traction - this can lead to a number of losses, but if you remain with it the wins usually work out much bigger than the small losses/BEs.

I am longer term bull on GU and will start unloading (or dump and turn) and then stack long when I think this short run (pullback) in the long term bull run may be over.
  • #391,260
  • Aug 5, 2014 1:24am Aug 5, 2014 1:24am
Quoting Bones
im gonna put cable in a down channel like this ,tls often unreliable ,all id say is there is a channel there,this is sideways ,up poss thats the high reading other charts,ill see h4 on d1 close {image}
Nice charts bones , very easy on the eyes. And yeah I think the pound/dollar still has some room to the upside on a retracement, perhaps to the 50 /61 fib. IMO theres more risk shorting as it is than buying at the moment (even tho we have about a potential 60 pip potential upswing) If we look at the correlation between Eur/Gbp (downtrend) Eur/Jpy (downtrend) with the Gbp/Usd its pretty clear on the reversal @ 1.6840 zone on the dailies...I would prefer staying away from this pair till I find a tangible conviction on a trade.
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