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Cable Update (GBPUSD)

  • #409,921
  • Feb 23, 2015 4:12pm Feb 23, 2015 4:12pm
Quoting elbert3
{quote} look at breaking over the ema in blue,, night guys
sleep tight
Come with me if you want to live....
  • #409,922
  • Feb 23, 2015 4:13pm Feb 23, 2015 4:13pm
Quoting Kajos2250
{quote} GU H8 GMT+2 Last one stopped, reopened a little bit lower in the pin. Previous bullish marubozu ask me to place another buy limit .5403, some longs wil be booked at ~5500 Good luck! {image}
GU H8 GMT+2

Nice confirmed fakey long with the trend!
Bullish engulfing on the daily!
Dont know
Another buy limit .5430 for retest of IB break out.
>5500 is coming...


Good luck!
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Anything is math!
  • #409,923
  • Feb 23, 2015 5:15pm Feb 23, 2015 5:15pm
Another thought. Its important to make a distinction between the two. Moves in a direction without large, stop-taking retracements can sustain extremely large moves (the ones you DO NOT want to trade against!) IF they are built right. There needs to be confusion the whole build-up. Then everyone realizes where its going at the end and they all want out through the same door, hahaha.
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  • #409,924
  • Feb 23, 2015 5:23pm Feb 23, 2015 5:23pm
Quoting ZebraSquirl
Me personally, I am going to bail on my short above Friday's low of 1.5342 (at 1.5350). I will reload short if it heels over a little bit more and we get some MA crossovers and a "good angle" on the descending EMA's. Not seeing that now: {image} Truth be told, I was trading counter-trend on the move up, expecting breaks at resistance, which really didn't occur until 1.5440-ish ... .
So glad to have gotten out at .5350-ish ... :

Attached Image


I could've hung in there, but better to reload when the picture comes into greater focus ... .
Fireworks are fun ... as long as you don't blow your fingers off.
  • #409,925
  • Feb 23, 2015 5:26pm Feb 23, 2015 5:26pm
Quoting elbert3
{image} is it double top or just not hit the line ???{image}
Why, I think you got yourself a double top there ... .
Fireworks are fun ... as long as you don't blow your fingers off.
  • #409,926
  • Feb 23, 2015 5:34pm Feb 23, 2015 5:34pm
Quoting Zappa
GBP looking bearish against everything. I think GBPUSD bears will be looking good if we sit tight. These types of moves seen today are always a problem for me. They reverse off a not-so-important spot and seem unnecessary. Plus, they could turn at any level and sometimes travel just beyond the previous high/low (1.5480 in this trade) before reversing. The pattern leading into them always contains a clue that it could happen, but nothing that screams that it WILL happen. It can just as easily keep going and everything would look fine. It all goes...
Such a tempting short set-up ... . I assume someone's betting on Yellen actually saying something "concrete" about the timing of Fed rate hikes, which she won't do unless she slips up. Always hate Fed Chairman testimony week ... . The market always seems to be actually expecting something other than "We're going to play it by ear ... ."
Fireworks are fun ... as long as you don't blow your fingers off.
  • #409,927
  • Feb 23, 2015 5:50pm Feb 23, 2015 5:50pm
Quoting ZebraSquirl
{quote} Such a tempting short set-up ... . I assume someone's betting on Yellen actually saying something "concrete" about the timing of Fed rate hikes, which she won't do unless she slips up. Always hate Fed Chairman testimony week ... . The market always seems to be actually expecting something other than "We're going to play it by ear ... ."
I don't really try to predict fundamentals, I just keep track of when they're coming out. But if you were to enter now, even a stop all the way at 1.5617 and target at 1.5123 would equal a 1:2 trade. A stop at 1.5480 with same target equals an 1:11 risk:reward
  • #409,928
  • Feb 23, 2015 6:16pm Feb 23, 2015 6:16pm
Quoting Zappa
{quote} I don't really try to predict fundamentals, I just keep track of when they're coming out. But if you were to enter now, even a stop all the way at 1.5617 and target at 1.5123 would equal a 1:2 trade. A stop at 1.5480 with same target equals an 1:11 risk:reward
Yep. That's why I said it's so tempting ... . (Fingers hover anxiously over mouse ... . Devil on shoulder says "Just click it. Click it!!! You know you want to.").
Fireworks are fun ... as long as you don't blow your fingers off.
  • #409,929
  • Feb 23, 2015 6:51pm Feb 23, 2015 6:51pm
Quoting ZebraSquirl
{quote} Yep. That's why I said it's so tempting ... . (Fingers hover anxiously over mouse ... . Devil on shoulder says "Just click it. Click it!!! You know you want to.").
I think in this case its God talking.
  • #409,930
  • Feb 23, 2015 7:02pm Feb 23, 2015 7:02pm
Quoting Zappa
{quote} I think in this case its God talking.
In that case, I've been commanded to enter short at 1.5450 and target 1.5220 ... .
Fireworks are fun ... as long as you don't blow your fingers off.
  • #409,931
  • Feb 23, 2015 7:16pm Feb 23, 2015 7:16pm
Quoting ZebraSquirl
{quote} In that case, I've been commanded to enter short at 1.5450 and target 1.5220 ... .
1.538 1.54 should be watched.
Another bounce might happen.
PA must be strong enough to break this level.
Next 1.532 and 1.522 (but I am not sure if gu will get here)
  • #409,932
  • Feb 23, 2015 7:58pm Feb 23, 2015 7:58pm
Quoting ZebraSquirl
{quote} In that case, I've been commanded to enter short at 1.5450 and target 1.5220 ... .
We're good, man. Pound looks ready to slide against all other majors, especially NZD and AUD. Besides what I already mentioned, I really can't see GBP going down strong on GBPNZD or GBPAUD while at the same time going UP in GBPUSD.

1.5220 MINIMUM. That is very conservative, I think. I'm looking at 1.5050 though I might exit earlier if I think I can get back in at a better price before it hits 1.5050.
  • #409,933
  • Feb 23, 2015 8:47pm Feb 23, 2015 8:47pm
Hi Zappa, as to GA be careful of bullish engulfing candle at Daily.
1.96 seems strong support.
  • #409,934
  • Feb 23, 2015 8:51pm Feb 23, 2015 8:51pm
I revised tp on my short gu and gj.
gu tp 1.54. (53850 is possible)
gj tp 183.
Then will see what next.
  • #409,935
  • Feb 23, 2015 9:27pm Feb 23, 2015 9:27pm
Quoting Zappa
{quote} We're good, man. Pound looks ready to slide against all other majors, especially NZD and AUD. Besides what I already mentioned, I really can't see GBP going down strong on GBPNZD or GBPAUD while at the same time going UP in GBPUSD. 1.5220 MINIMUM. That is very conservative, I think. I'm looking at 1.5050 though I might exit earlier if I think I can get back in at a better price before it hits 1.5050.
Sell zone ..

Next High Asia maybe around the UK open ..

Spud looking to Sell .. Frank

Stop loss in Place .. but a roomy one ..
  • #409,936
  • Feb 23, 2015 11:03pm Feb 23, 2015 11:03pm
Quoting Spudforex
{quote} Sell zone .. Next High Asia maybe around the UK open .. Spud looking to Sell .. Frank Stop loss in Place .. but a roomy one ..
hi spud, do you think bull ran out of petrol and they are thinking yellen will be no dovish?
  • #409,937
  • Feb 23, 2015 11:25pm Feb 23, 2015 11:25pm
Quoting Ill-b-back
{quote} I think it's a good entry we got a descent weekly bunch above us as resistance and last week showed hesitation. We still got a bit more up to go though I think but not before profit taking opportunities. Something like this anyway. Fingers crossed {image} {image} {image}
wake up bro , something spotted here

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  • #409,938
  • Feb 24, 2015 12:02am Feb 24, 2015 12:02am
Any good effect will come from Inflation Report Hearings ?
  • #409,939
  • Feb 24, 2015 12:32am Feb 24, 2015 12:32am
morning adding another long here
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  • #409,940
  • Feb 24, 2015 12:48am Feb 24, 2015 12:48am
Quoting elbert3
morning adding another long here{image}
Hi Billy Morning
would you please guide me on what basis you gone long here as GBP rallied from 1.5432 and there are strong resistances @5440 and 5480
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