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Cable Update (GBPUSD)

  • #411,401
  • Mar 12, 2015 10:30am Mar 12, 2015 10:30am
Quoting elbert3
Thats me great day,, retrace ? Gl all regards

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  • #411,402
  • Mar 12, 2015 10:40am Mar 12, 2015 10:40am
Gbp/usd touch weekly support line . a strong support line... want to see some retrenchment
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  • #411,403
  • Mar 12, 2015 10:52am Mar 12, 2015 10:52am
Quoting avijitpyne
Gbp/usd touch weekly support line . a strong support line... want to see some retrenchment {image}

yes
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  • #411,404
  • Mar 12, 2015 10:57am Mar 12, 2015 10:57am
Quoting elbert3
{image} possibility for me anybody see any other problems
http://www.forexfactory.com/attachme...8&d=1426168827 numbers up long 4868 ,,good day , i thought 4800 , but lets see
  • #411,405
  • Mar 12, 2015 10:58am Mar 12, 2015 10:58am
Quoting dogytrader
Hi everyone, I want to ask something , I got long positions around 1,5240 and keeping them but it really started to make me nervous.. ​What do you think should I cut them or keep waiting..I have no hurry and my account balance is ok to keep them but don't have the nerve to lose more.. Thank you all ,
I'm no expert, but I would have set a SL before things got that far away from your position (maybe like 1.5000 which was hailed to be a strong support). Will GBP/USD see 1.5240 again? Most likely. But the problem is how long will it take to get there? Weeks? Months? That's all I would think about.
  • #411,406
  • Mar 12, 2015 11:00am Mar 12, 2015 11:00am
Quoting Alorente
{quote} I couldnt have said it any better. I agree with everything you said. I feel there is a "surprise" drop in USD Index coming to around 88 (Healthy correction). GBPUSD should test the recent high of 1.5550. I believe GBPUSD is in a trading range between 1.49 and 1.55. We will soon see if we are correct...
Lol

I think much of the rationale for a rate rise is being created by the FED with the cooperation of the BLS so that the FED will have some room to maneuver in the case of another crisis. With near zero rates it cannot make the case that it is controlling the economy if another crisis occurs.

It rates are at least near 1%, it can lower rates & look effective (whether it is or not ;^). Not entirely my analysis. Others have said the same.

http://jessescrossroadscafe.blogspot.com/
The mind thinks, the heart knows...
  • #411,407
  • Mar 12, 2015 11:00am Mar 12, 2015 11:00am
Quoting elbert3
{quote} http://www.forexfactory.com/attachme...8&d=1426168827 numbers up long 4868 ,,good day , i thought 4800 , but lets see
4854
The world you desire can be won. It exists.. it is real.. it is possible..
  • #411,408
  • Mar 12, 2015 11:05am Mar 12, 2015 11:05am
Long, and TP 1.4888 (small TP just for possible today, or overnight move..).. Cable should go up even little, because strong support was tested.
  • #411,409
  • Mar 12, 2015 11:16am Mar 12, 2015 11:16am
Anybody going long on this pair right now needs to look at a weekly chart. Any rally before a break of 1.4810 should be sold. Besides that, there are no real buyers to be seen down here.
  • #411,410
  • Mar 12, 2015 11:23am Mar 12, 2015 11:23am
Waiting for 1.4850 to be touched. Then my plan is short short short as soon as it retraces to 1.4905-1.4930. Considering whether to tp now or leave it run for 1.4780 or just BE if it decides to visit 1.50 again.

Target 1 @1.4780
Target 2 @1.4565
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  • #411,411
  • Mar 12, 2015 11:24am Mar 12, 2015 11:24am
Quoting dogytrader
Hi everyone, I want to ask something , I got long positions around 1,5240 and keeping them but it really started to make me nervous.. ​What do you think should I cut them or keep waiting..I have no hurry and my account balance is ok to keep them but don't have the nerve to lose more.. Thank you all ,
I think you answered your own question "I don't have the nerve to lose more". If that's the case then exit the trade no use holding it and losing sleep. It will most likely take price a very long time to reach 1.52 level again we are most likely heading down and have been making LL's on a consistent basis since we topped at 1.555
  • #411,412
  • Mar 12, 2015 11:41am Mar 12, 2015 11:41am
Quoting Zappa
Anybody going long on this pair right now needs to look at a weekly chart. Any rally before a break of 1.4810 should be sold. Besides that, there are no real buyers to be seen down here.
so consent, probably a lot of SL waiting to gather and hunt there
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  • #411,413
  • Mar 12, 2015 11:55am Mar 12, 2015 11:55am
Quoting Dano12
{quote} so consent, probably a lot of SL waiting to gather and hunt there {image}
There are definitely stops at 1.4810.
  • #411,414
  • Mar 12, 2015 12:25pm Mar 12, 2015 12:25pm
Probably be a decent bounce 1.4850 for some pips but I fully expect it to drop through it eventually.
  • #411,415
  • Mar 12, 2015 12:30pm Mar 12, 2015 12:30pm
Quoting dogytrader
Hi everyone, I want to ask something , I got long positions around 1,5240 and keeping them but it really started to make me nervous.. What do you think should I cut them or keep waiting..I have no hurry and my account balance is ok to keep them but don't have the nerve to lose more.. Thank you all ,
Been there, understand how you feel. Depends on your overnight rate and if you can keep it open and keep on trading and the broker you have. Does he allow hedging if you want to keep on trading this pair. Do your calculation. By closing it, can you then generate the profit to cover the loss?
I looked at the Icki forecast on D1 and price can get there by end March/April, but then again the Icki does not know about events that can happen to change its forecast. Look at W and M, zoom out, get bigger picture and decide for yourself.
Newton's law: what goes up must come down and vise verse! For Forex is very true.
  • #411,416
  • Mar 12, 2015 1:05pm Mar 12, 2015 1:05pm
Quoting ez0770
{quote} The focus on low CPI is dovish indeed, (1) but that is on a global scale, not a UK phoenomena. When a central bank governor says that he sees an (2)increasing path of rate hikes over the next few years, that is an hawkish statement, there's no two way about it. US figures were horrible (yet again) yet the dollar spikes down and then rallies while cable spikes up and then drops 100 points...the disconnect between PA and fundamental data continues....
(1) Yes I agree and that's precisely what I said.

(2) Again, I agree, but that's not what Carney said.

"The Bank expects to return inflation to target within two years and to make
limited and gradual increases in Bank Rate over the next three years in order to achieve that in a sustainable
manner".

He also went on to clarify:

"The pace and degree of these increases will be affected by a variety of factors, including the evolution of
foreign prices and our exchange rate, as well as domestic cost pressures. While the MPC can be expected
to look through one-off shocks, it may be appropriate to take into account persistent external deflationary
forces arising from the combination of continued foreign low inflation and the protracted effects of sterling’s
strength on the prices facing UK consumers if those forces were to intensify".

Overall, it just didn't seem very Hawkish as he is communicating low inflation and the need to lift it.

limited and gradual rate increases over a few years (ie anywhere between now and 2018)

Then going onto say that external forces will affect any rate increase decisions. (ie. we have a gradual plan, but it may change).

My take on it anyway.

If stocks tumble, then $ will surge.
Come with me if you want to live....
  • #411,417
  • Mar 12, 2015 1:08pm Mar 12, 2015 1:08pm
Quoting elbert3
{quote} who loves yer baby come on gb,,,,the crowd go wild,, 078 eur trust me my mothers a policeman

lol, what??

Sorry, I went to bed.

7am - been to the gym, coffee in hand, home with my daughters today and Pound tumbled

Great end to the week...

Hope you're well

Come with me if you want to live....
  • #411,418
  • Mar 12, 2015 2:27pm Mar 12, 2015 2:27pm
thank you all for the great comments. I will try to keep them until I get 1.50 again and cut it there.If iclose my position now I am sure I am going to regret it.
  • #411,419
  • Mar 12, 2015 2:48pm Mar 12, 2015 2:48pm
1.4958(ish) seems like a good place to short again
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Come with me if you want to live....
  • #411,420
  • Mar 12, 2015 3:07pm Mar 12, 2015 3:07pm
Quoting Ill-b-back
{quote} lol, what?? Sorry, I went to bed. 7am - been to the gym, coffee in hand, home with my daughters today and Pound tumbled Great end to the week... Hope you're well
Hi IB had some great trades today , here is my thought , if you read the posts you know where i got in ,Regards B and good
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night
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