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Cable Update (GBPUSD)

  • #403,001
  • Oct 15, 2014 10:12am Oct 15, 2014 10:12am
Warning this is a EURUSD analysis.

I am going to get a lot of people disagreeing with me, but yea i have my risk reward set and ready to give this a go.

with all this noise i decided to zoom out to look at higher time frames to see whats going on.....
this is what i see. proper rejection of the 61.8% fibo retracement level turned resistance last month.
expecting the high timeframe bearish EURUSD wave to complete where it has always completed... at the 200SMA on the Monthly chart. which is positioned around 1.2220 atm.

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We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #403,002
  • Oct 15, 2014 10:17am Oct 15, 2014 10:17am
Quoting darrenware
Bloody hell come back from a meeting and cables thrown a tantrum!
same here i was like £200 up and now im down..in almost 10 minutes huge movement..what the hell happened?
  • #403,003
  • Oct 15, 2014 10:20am Oct 15, 2014 10:20am
Hi....opened Long @ 1.5950.....SL 1.5880.....TP 1.6060

Hve a nice day....
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  • #403,004
  • Oct 15, 2014 10:25am Oct 15, 2014 10:25am
Quoting moto28
Hi....opened Long @ 1.5950.....SL 1.5880.....TP 1.6060 Hve a nice day.... {image}
with that big wick? you have a deathwish or something?
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #403,005
  • Oct 15, 2014 10:26am Oct 15, 2014 10:26am
Quoting nAVIN2007
{quote} same here i was like £200 up and now im down..in almost 10 minutes huge movement..what the hell happened?
Usual over reaction to news, it probably took out a load of bear stops and then bears jumped back in for a retrace…only reason i say this is its basically what i did. Saved my ass shorting the retrace.
Enter Signature
  • #403,006
  • Oct 15, 2014 10:27am Oct 15, 2014 10:27am
London is going to close within 30 min then ECB President Draghi Speaks and Beige Book
  • #403,007
  • Oct 15, 2014 10:31am Oct 15, 2014 10:31am
Quoting fxtyrant
{quote} with that big wick? you have a deathwish or something?
This market has been throwing big wicks that seem like reversals, but then returning back to the rejection points - from what I have seen anyway.
  • #403,008
  • Oct 15, 2014 10:31am Oct 15, 2014 10:31am
Quoting nAVIN2007
{quote} same here i was like £200 up and now im down..in almost 10 minutes huge movement..what the hell happened?
fammm the market snaked us broo... been down £100 but well just gonna cut my losses mate!! win some you loose some bro
  • #403,009
  • Oct 15, 2014 10:42am Oct 15, 2014 10:42am
Quoting Didgeridoo
{quote} This market has been throwing big wicks that seem like reversals, but then returning back to the rejection points - from what I have seen anyway.
it is possible there conflict..1hr is showing rejection but the daily is showing potential to go up

gbp in general is weak and FTSE 100 is falling hard
dragon is indicating more weakness..it could be a blood bath for longs

one thing is upside is limited..
  • #403,010
  • Oct 15, 2014 10:44am Oct 15, 2014 10:44am
Quoting poseikwame
{quote} fammm the market snaked us broo... been down £100 but well just gonna cut my losses mate!! win some you loose some bro

true
  • #403,011
  • Oct 15, 2014 10:47am Oct 15, 2014 10:47am
Quoting nAVIN2007
{quote} same here i was like £200 up and now im down..in almost 10 minutes huge movement..what the hell happened?
In a nutshell: 10y treasuries plunged below 2% , that got everybody and their brothers selling dollars across the board. But after it traded back above 2% they scrambled to cover their dollar shorts.
Hear the music before the song is over ...
  • #403,012
  • Edited 11:33am Oct 15, 2014 10:50am | Edited 11:33am
Quoting nAVIN2007
{quote} it is possible there conflict..1hr is showing rejection but the daily is showing potential to go up gbp in general is weak and FTSE 100 is falling hard dragon is indicating more weakness..it could be a blood bath for longs one thing is upside is limited..
True. My reasoning for potentially longing cable is more so the USD side - coupled with GBP being possibly oversold.

I'm more so looking for a pair to use to sell USD into next next week, and reckon GBP may finally catch a break.

But you're right. Could end up looking like something out of Rambo 4.
  • #403,013
  • Oct 15, 2014 11:23am Oct 15, 2014 11:23am
Quoting Didgeridoo
{quote} True. My reasoning for potentially longing cable is more so, the USD side - coupled with GBP being possibly oversold. I'm more so looking for a pair to use to sell USD into next next week, and reckon GBP may finally catch a break. But you're right. Could end up looking like something out of Rambo 4.
im actually long thinking the same thing..
  • #403,014
  • Oct 15, 2014 11:42am Oct 15, 2014 11:42am
Quoting navk
{quote} Long GA. here {image}
I have GJ going DOWN to 1.67535, This will drag all GBP pairs DOWN, So will hold going LONG till GJ Touches that level
A good trader follows his rules, but great trader knows when to break them
  • #403,015
  • Oct 15, 2014 11:51am Oct 15, 2014 11:51am
Hello there guys! I'm short on GU. I like to ride the trend and add small positions upon counter-trend move.
  • #403,016
  • Oct 15, 2014 11:54am Oct 15, 2014 11:54am
Quoting ill_be_back
{quote} I have GJ going DOWN to 1.67535, This will drag all GBP pairs DOWN, So will hold going LONG till GJ Touches that level
nice one... but draghi soon spit some bitter juice bro... will short GJ to 167xxx region and see how it goes... maybe I will recover something.
  • #403,017
  • Oct 15, 2014 11:56am Oct 15, 2014 11:56am
Quoting GlobalMacro
{quote} In a nutshell: 10y treasuries plunged below 2% , that got everybody and their brothers selling dollars across the board. But after it traded back above 2% they scrambled to cover their dollar shorts.

thanks bro
  • #403,018
  • Oct 15, 2014 11:57am Oct 15, 2014 11:57am
Quoting poseikwame
{quote} nice one... but draghi soon spit some bitter juice bro... will short GJ to 167xxx region and see how it goes... maybe I will recover something.
Risky Shorting, I would wait to reach my level to go LONG(Better RR)
A good trader follows his rules, but great trader knows when to break them
  • #403,019
  • Oct 15, 2014 12:02pm Oct 15, 2014 12:02pm
Quoting ill_be_back
{quote} Risky Shorting, I would wait to reach my level to go LONG(Better RR)
yhhh... with draghi coming to stir things up worst!! don't understand why he has to speak twice in a day...
  • #403,020
  • Oct 15, 2014 12:04pm Oct 15, 2014 12:04pm
Quoting ill_be_back
{quote} Risky Shorting, I would wait to reach my level to go LONG(Better RR)
Made my day + +++

Took Long GA and closed two times positively.

Made some - Lost all + Recovered all for today.
Intraday only.
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