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Cable Update (GBPUSD)

  • #404,081
  • Oct 28, 2014 6:37pm Oct 28, 2014 6:37pm
Quoting JugaFX
Hello to all i am new here but in forex business 5 years and now i am planing to be more active on this forum and this thread so be easy on me We have a nice SHS pattern on cable H4 time frame and i am very bullish. {image} Pattern is accumulated 300 and more pips, my first target is 1.6200
Gidday Juga

Yeah great

If you know what you are doing

All the Red neck gamblers in here could

do with some tips
  • #404,082
  • Oct 28, 2014 6:50pm Oct 28, 2014 6:50pm
Quoting GlobalMacro
{quote} Huge bullish momentum on EJ. Good enough to break 137.84-94 resistance.
Out of that, Now I am LONG GJ 174.433 TP 181.090

Expecting Target to be HIT by Friday 10 am EST
A good trader follows his rules, but great trader knows when to break them
  • #404,083
  • Oct 28, 2014 7:02pm Oct 28, 2014 7:02pm
Quoting ill_be_back
{quote} Out of that, Now I am LONG GJ 174.433 TP 181.090 Expecting Target to be HIT by Friday 10 am EST
Good one , GJ's momentum also bullish BUT unlike EJ , 175.01-14 resistance probably harder to break.
Or it could be the other way around...time will tell. To me EJ looks more bullish tho.
Hear the music before the song is over ...
  • #404,084
  • Oct 28, 2014 7:13pm Oct 28, 2014 7:13pm
Quoting GlobalMacro
{quote} Good one , GJ's momentum also bullish BUT unlike EJ , 175.01-14 resistance probably harder to break. Or it could be the reverse...time will tell. To me EJ looks more bullish tho
Both Going UP, Target for EJ is 141.826, Will Get more out of GJ
A good trader follows his rules, but great trader knows when to break them
  • #404,085
  • Edited 8:35pm Oct 28, 2014 8:25pm | Edited 8:35pm
Quoting nAVIN2007
{quote} how do u know this?
It's irrelevant.

You can get options expiry from a few sources. Bloomberg Terminal or IFR have them. If those are too pricey then there's the Talking Forex which relays IFR and Bloomberg, and for free Forex Live lists the expiry before Europe session, so this information isn't hard to get.

As far as HDA is concerned, it's his account and he can do whatever he likes with it. The only problem I see is new traders mistaking what he does as position trading. Holding the wrong side of a trade as price erases the entire yearly range and part of last year's range isn't position trading, I honestly don't know what it is. Position trading when done properly involves building positions based on good entries and holding as price works it's way through the long term move.

What's more important is we could be preparing to make the next big move. 12 hours after my last post on Oct. 15th Bullard put a floor under the market and Cable moved up 300 pips. After the 61.8 MPC pullback, we are positioned back around the Oct. 20th high for the next event.

Quoting Luther
... We have 5 Fed speakers lined up today. I'm shifting into the bull camp and waiting on the signal to go. Fundamentally, what I mentioned above is my trigger, and on the Daily chart, price will reflect that. As a position trader it takes patience to wait for the right timing to start building your position. Never guess, never trade based on what you think the market might do.
Oct. 29th is FOMC. If Yellen hints at rate hike delay or extension of QE, we could see 6500. If she is hawkish, we could see 5720. Cable takes it's cues on certain key events for it's longer term direction, so being patient for these to unfold is a big part of positioning on this pair. Anyway, be careful tomorrow. It's going to be volatile around the minutes release.
  • #404,086
  • Oct 28, 2014 8:34pm Oct 28, 2014 8:34pm
Quoting Luther
{quote} It's irrelevant. You can get options expiry from a few sources. Bloomberg Terminal or IFR have them. If those are too pricey then there's the Talking Forex which relays IFR and Bloomberg, and for free, Forex Live lists the expiry before Europe session, so this information isn't hard to get. As far as HDA is concerned, it's his account and he can do whatever he likes with it. The only problem I see is new traders mistaking what he does as position trading. Holding the wrong side of a trade as price erases the entire yearly range and part...
Excellent post!
Ghost Rider - WWTBMD?
  • #404,087
  • Oct 28, 2014 9:23pm Oct 28, 2014 9:23pm
Gidday GBP/US

Every body happy

Had some longs sitting growing roots

Most set 1.62 + an opened a few up to higher ground

Just need we burst EUR/US

Would be nice to get a top an trade down

A lot of talk the other week off 1.58 etc
  • #404,088
  • Oct 28, 2014 9:29pm Oct 28, 2014 9:29pm
Quoting eliteincome
Gidday GBP/US Every body happy Had some longs sitting growing roots Most set 1.62 + an opened a few up to higher ground Just need we burst EUR/US Would be nice to get a top an trade down A lot of talk the other week off 1.58 etc
Will go DOWN to atleast 1.5930 before major UP
Possibly early NOV
A good trader follows his rules, but great trader knows when to break them
  • #404,089
  • Oct 29, 2014 1:25am Oct 29, 2014 1:25am
Will be looking for an ideal short at about the 1.6150/70 zone into support @ 1.6094 coincides with both technical and fundamental analysis
  • #404,090
  • Oct 29, 2014 1:29am Oct 29, 2014 1:29am
Quoting IveGotQuads
Will be looking for an ideal short at about the 1.6150/70 zone into support @ 1.6094 coincides with both technical and fundamental analysis
seems like promising, Good Luck, just remember, we will have FOMC which possible to change everything...
  • #404,091
  • Oct 29, 2014 1:40am Oct 29, 2014 1:40am
Quoting Red Alert
{quote} seems like promising, Good Luck, just remember, we will have FOMC which possible to change everything...
NOBODY knows where price will be, all we can do is speculate. The daily trend of Gbp/Usd is bearish and I hope to build some positions in it and the sweet zone would be around 1.6244 for a short when we factor in the news today, this could go up later in the afternoon after going down first. Whichever way price or Mr. market moves I will be trying to profit from the moves till we get there. For right now my plan is to wait for a short...thanks for your input much appreciated
  • #404,092
  • Oct 29, 2014 1:46am Oct 29, 2014 1:46am
Attached Image (click to enlarge)
Click to Enlarge Name: 5.png Size: 68 KB
morning i will watch that 150 area but would like to see a higher move
  • #404,093
  • Oct 29, 2014 2:16am Oct 29, 2014 2:16am
Quoting elbert3
{image} morning i will watch that 150 area but would like to see a higher move
Hi billy, let me translate some word on your Indy ....

Kuat = strong
Lubang kosong = empty hole (may be mean empty space)
Tahan = Hold


Good luck
  • #404,094
  • Oct 29, 2014 2:32am Oct 29, 2014 2:32am
Attached Image
  • #404,095
  • Oct 29, 2014 2:40am Oct 29, 2014 2:40am
Quoting Red Alert
{quote} Hi billy, let me translate some word on your Indy .... Kuat = strong Lubang kosong = empty hole (may be mean empty space) Tahan = Hold Good luck
thanks red i know what kuat was but not the rest , sometimes its good but i dont trade solely of it, the lower times as you can see on the charts are on most of the time if you traded every arrow you would lose, higher time ok but even then the price can go below the arrow indi then go up,this makes you think your on the wrong side and come out of what could be a 200 pip move, regards ps good move yesterday i wanted to trade it but went wrong way,,well done
  • #404,096
  • Oct 29, 2014 2:44am Oct 29, 2014 2:44am
Quoting Luther
{quote} It's irrelevant. You can get options expiry from a few sources. Bloomberg Terminal or IFR have them. If those are too pricey then there's the Talking Forex which relays IFR and Bloomberg, and for free Forex Live lists the expiry before Europe session, so this information isn't hard to get. As far as HDA is concerned, it's his account and he can do whatever he likes with it. The only problem I see is new traders mistaking what he does as position trading. Holding the wrong side of a trade as price erases the entire yearly range and part of...
I dont think we will see 1.65 but i do have it as an area which is likely to be hit because it is very important..thanks for summary
trade well
  • #404,097
  • Oct 29, 2014 2:50am Oct 29, 2014 2:50am
mmm out at 44 ,add over 50 again and
  • #404,098
  • Oct 29, 2014 2:56am Oct 29, 2014 2:56am
1.8004 gbcad target 30 pips then 90% off 7995 sl,,
  • #404,099
  • Oct 29, 2014 3:25am Oct 29, 2014 3:25am
Breaking lower on a wave C down?
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDH4 15.png Size: 53 KB
Elliott Wave for optimum entry, exit and risk management of trades
  • #404,100
  • Oct 29, 2014 3:41am Oct 29, 2014 3:41am
if one wanted to be pip perfect price did not hit 183 yesterday thats the double top,,,, long again 25 sl 20 target the above
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