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Cable Update (GBPUSD)

  • #416,381
  • Jun 11, 2015 8:32am Jun 11, 2015 8:32am
Quoting alexpi
{quote} I avoid making trading decisions based on news because this happens Gonna take profit at 1.5525/35 for now
WOW oh it seems today i am driving the wrong way on a one way street good luck with your profit. and thanks for reply.
  • #416,382
  • Jun 11, 2015 12:48pm Jun 11, 2015 12:48pm
Options GBP USD
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD_H444....gif Size: 199 KB
  • #416,383
  • Jun 11, 2015 1:38pm Jun 11, 2015 1:38pm
This is the major cross junction
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDmDaily.png Size: 39 KB
  • #416,384
  • Jun 11, 2015 7:41pm Jun 11, 2015 7:41pm
Up or Down 150 pips trading range for today
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDmDaily.png Size: 31 KB
  • #416,385
  • Edited 12:47am Jun 12, 2015 12:33am | Edited 12:47am
As expected we have a very weak sell-off from 1.5525. Short positions in the region are already exhausted and price should easily break up from 1.555, maybe close the fall caused by US CPI on 22 May. 1.564 is a realistic target for today as indicated by GrowthHack (Cheers for that ).

Taking a small buy at 1.55068 with a tight SL at 1.5499

Edit.
Extended target would be 1.57 and higher. I don't want to see this and won't be aiming for it because it would mean significant extension up for the pair making it difficult to select trades next week. Just putting down in writing what I'm thinking, don't want to get overeager and sell at 1.563/6 if/when price gets there until we have some good moves down because a sharp move up would be dangerous and unpredictable
  • #416,386
  • Jun 12, 2015 2:34am Jun 12, 2015 2:34am
Quoting ItsAtrap
I am in this long swing on the dailies. Initial SL , and TP on the chart. I entered on the break of yesterday's highs. {image}

I haven't forgotten this thread! I am still in this daily long trade.

Chart showing the current situation. At the moment it is a free trade that's about 150 pips in profit. Hopefully it will survive and reach 1st TP.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD daily trade review 12Jun2015.gif Size: 45 KB
  • #416,387
  • Edited 4:19am Jun 12, 2015 3:54am | Edited 4:19am
Interesting move, 35-pip stop run or change of 4H trend? Wait and see

Edit: *grabs popcorn* this is gonna get ugly

http://www.forexfactory.com/news.php...13#post8322727

http://www.forexfactory.com/news.php?do=news&id=544512

Very ugly

Edit2:
As I thought, dump, attract the bears, and pump. Disgustingly effective. Waiting for a retrace to 1.5485 and buying
  • #416,388
  • Jun 12, 2015 4:57am Jun 12, 2015 4:57am
still not exclude the option of wave 5
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GBPUSD_H1.gif Size: 186 KB
Click to Enlarge Name: GBPUSD_H4.gif Size: 162 KB
  • #416,389
  • Edited 8:22am Jun 12, 2015 5:11am | Edited 8:22am
You're right Dano, set the SL to BE to be safe

Edit: Horrendous price action all day
  • #416,390
  • Jun 12, 2015 9:38am Jun 12, 2015 9:38am
Quoting Dano12
still not exclude the option of wave 5 {image} {image}
Seems we were too careful Dano

Blowout time is here.
  • #416,391
  • Jun 12, 2015 9:41am Jun 12, 2015 9:41am
Quoting alexpi
{quote} Seems we were too careful Dano Blowout time is here.

so wave 5
  • #416,392
  • Jun 12, 2015 9:41am Jun 12, 2015 9:41am
Quoting Dano12
{quote} so wave 5
All hail Wave 5
  • #416,393
  • Jun 12, 2015 9:46am Jun 12, 2015 9:46am
can try a little short here at fibo 61.8
  • #416,394
  • Jun 12, 2015 9:54am Jun 12, 2015 9:54am
Remember this is weekend rally GU is finding perfect upside area to prepare next week FOMC and Bank Rate spikes ...

Happy weekend
  • #416,395
  • Jun 12, 2015 9:56am Jun 12, 2015 9:56am
Quoting FxLapozi
can try a little short here at fibo 61.8
Don't.

Accounts are getting liquidated here. Just don't short.

It's the blowout, account managers are making margin calls, just... just don't do it

Like this but the opposite

Inserted Video
  • #416,396
  • Jun 12, 2015 9:57am Jun 12, 2015 9:57am
Quoting alexpi
{quote} All hail Wave 5
  • #416,397
  • Jun 12, 2015 10:16am Jun 12, 2015 10:16am
Crazy week ended with a crazy move.

Pleasant weekend to all, not gonna be around for the upcoming 5-hour pit fight
  • #416,398
  • Jun 12, 2015 10:18am Jun 12, 2015 10:18am
Quoting alexpi
{quote} Don't. Accounts are getting liquidated here. Just don't short. It's the blowout, account managers are making margin calls, just... just don't do it Like this but the opposite
Care to elaborate please? I don't understand what you mean.
  • #416,399
  • Jun 12, 2015 10:21am Jun 12, 2015 10:21am
Quoting Dolzsan
{quote} Care to elaborate please? I don't understand what you mean.
I promise I will, on Monday
  • #416,400
  • Jun 12, 2015 10:51am Jun 12, 2015 10:51am
Any chance of it coming down to .55500, I have a sell trade there..STUCK!!!!
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