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Cable Update (GBPUSD)

  • #423,401
  • Feb 5, 2016 4:14am Feb 5, 2016 4:14am
still early for longs.
short all gbp crosses...

gu more flat
  • #423,402
  • Feb 5, 2016 4:14am Feb 5, 2016 4:14am
what is still worrying me abt gbp/usd is when I look at the crosses. they are still continuing their trend inspite of gbp being up 350 pips this week which is strange. gbp/aud is still bearish eur/gbp is still bullish.
  • #423,403
  • Feb 5, 2016 4:15am Feb 5, 2016 4:15am
Quoting elbert3
{quote} see what happens here 5402,,
​
Stopped out, it was a very high volume trade so maybe I should have closed it jjust shy of my TP but ah well
  • #423,404
  • Feb 5, 2016 4:21am Feb 5, 2016 4:21am
Quoting Don96
{quote} ​ Stopped out, it was a very high volume trade so maybe I should have closed it jjust shy of my TP but ah well
Attached Image (click to enlarge)
Click to Enlarge Name: 1e.png Size: 71 KB
sorry buddy just looking into higher time chart might be support on the arrow
  • #423,405
  • Feb 5, 2016 4:24am Feb 5, 2016 4:24am
So we could break this support here at around 1.4430
  • #423,406
  • Feb 5, 2016 4:24am Feb 5, 2016 4:24am
There is a bit of a sentiment shift occurring with the dollar. Keep track of the headlines... Talk is starting up about how the Fed is now planning for negative interest rates potentially in the future a couple years out or so.

Quoting giveachance
what is still worrying me abt gbp/usd is when I look at the crosses. they are still continuing their trend inspite of gbp being up 350 pips this week which is strange. gbp/aud is still bearish eur/gbp is still bullish.
"Don't fear a bubble until it starts to burst."
  • #423,407
  • Feb 5, 2016 4:27am Feb 5, 2016 4:27am
this pair doing a yoyo today.
  • #423,408
  • Feb 5, 2016 4:29am Feb 5, 2016 4:29am
Quoting meanvel
There is a bit of a sentiment shift occurring with the dollar. Keep track of the headlines... Talk is starting up about how the Fed is now planning for negative interest rates potentially in the future a couple years out or so. {quote}
dollar is bearish is my view as well but gbp looks pathetic on the crosses. its just not able to hold gains and loses 100 pips quickly. its like which is the weakest of both and I would say its gbp
  • #423,409
  • Feb 5, 2016 4:32am Feb 5, 2016 4:32am
the way its going for gbp now won't surprise me if we sub 4500 pre nfp
  • #423,410
  • Feb 5, 2016 4:37am Feb 5, 2016 4:37am
All the smart buyers are sitting around waiting for 4500 to be tested before buying. There isn't really much support for rallies.

But, we can't seem to find the sellers to get down there so far... Kinda a stalemate situation. No big money willing to buy anything but breakdown failures, bears not confident enough to drive it down to where the bulls will step in for real.
"Don't fear a bubble until it starts to burst."
  • #423,411
  • Feb 5, 2016 4:39am Feb 5, 2016 4:39am
LOL everytime I enter a trade, within minutes I am stopped out no matter how bug the fucking SL, its like as soon as I enter bam bye bye
Then a guaranteed reversal as soon as my SL is hit, its a fucking joke.
  • #423,412
  • Feb 5, 2016 4:41am Feb 5, 2016 4:41am
Quoting giveachance
this pair doing a yoyo today.
going up again ??? 1st floor fx traders platforms 2nd floor fx traders indicators , 3rd floor fx traders bad luck stories, 4th floor good luck stories,,, sorry GC regards B
  • #423,413
  • Feb 5, 2016 4:43am Feb 5, 2016 4:43am
Don't get sucked in... When your feel yourself being pulled into the market... The market is about at a top or bottom if your emotions are in sync with the market.

Quoting Don96
LOL everytime I enter a trade, within minutes I am stopped out no matter how bug the fucking SL, its like as soon as I enter bam bye bye Then a guaranteed reversal as soon as my SL is hit, its a fucking joke.
"Don't fear a bubble until it starts to burst."
  • #423,414
  • Feb 5, 2016 4:44am Feb 5, 2016 4:44am
Quoting don96
lol everytime i enter a trade, within minutes i am stopped out no matter how bug the fucking sl, its like as soon as i enter bam bye bye then a guaranteed reversal as soon as my sl is hit, its a fucking joke.
me to the last 3 trades 1 is hedge , its ok if you have a good trade under your belt at the start , but hard if its first trades of the day
  • #423,415
  • Feb 5, 2016 4:47am Feb 5, 2016 4:47am
Quoting elbert3
fx is like Russian roulette except you put the bullet in the first chamber to get fired .lol
YOU SEE
  • #423,416
  • Feb 5, 2016 4:49am Feb 5, 2016 4:49am
80 pips but letting it run on Pound Dollar.

Sell now on Euro.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpusd-h1-sts-finance-2.png Size: 62 KB
Click to Enlarge Name: eurusd-h1-sts-finance.png Size: 58 KB
  • #423,417
  • Feb 5, 2016 4:51am Feb 5, 2016 4:51am
Quoting elbert3
{quote} me to the last 3 trades 1 is hedge , its ok if you have a good trade under your belt at the start , but hard if its first trades of the day
Like seriously I have gone from 3% up on one trade, for a retrace back to my SL at 1% and then being stopped out instantly within no more than 3 mins in two other trades and now 2% down today, not to mention I'm a riduclous amount down on my account overall now. Fucking pissed me off, I was going steady when I first started with this account, traded 3 trades without SL which I know I shouldn't have done because ive blown accounts this way before, anf they cost me over 50% luckily I closed them out when I did otherwise id be completely gone, and since then ive tried to claw it back and just been chasing it, lost more and now down like 70% :/
  • #423,418
  • Feb 5, 2016 4:54am Feb 5, 2016 4:54am
TODAYS MAIL IF YOUR INTERESTED

GBPUSD
Bullish above 1.4500.

BoE: ‘The MPC judges the risks to the central projection to be skewed a little to the downside in the near term, reflecting the possibility of greater persistence of low inflation,” the committee said on Thursday. “Low realized inflation will continue to moderate the increase in wage pressure in the near term.’

Commerzbank: ‘Governor Carney went to great lengths to dismiss market concerns that the next move in interest rates is likely to be downward. […] Although we buy the view that the next move iin rates is up, the most obvious risk is that rates remain lower for longer than hitherto supposed.’

LCG: ‘As suspected, Super Thursday capped gains in the sterling market. Cable bounced lower from 1.4660 (Fib 50% on Dec-Jan decline), the slide did not damage the key short-term technical levels. The pair find buyers at 1.4500/1.4515 (minor 23.6% off Jan 21 low of 1.4080) before the critical short-term support at 1.4432 (major 38.2%). Above 1.4432, gains could extend to 1.4707/1.4775 (50% and 61.8% ext. with 1.4432 base). Sliding below 1.4432, the bullish appetite could rapidly fade to pull the air to 1.4365 (Fib 540% retrace) before 1.4297 (Fib 61.8%).’

Market price 1.4533
Bullish case: 1.4515/00 support, surpassing 1.4660, rise expected to 1.4707 and 1.4775.
Bearish case: if 1.4500 broken drop to 1.4430 before 1.4365.
  • #423,419
  • Feb 5, 2016 4:56am Feb 5, 2016 4:56am
Quoting giveachance
the way its going for gbp now won't surprise me if we sub 4500 pre nfp
You know, one of my old rules is to never trade long on reversal down day, and never trade short on reversal up day. This is a solidly confirmed reversal down day.

You just never know... Quite commonly some large hedge fund or firm is screwed and dumps in panic right toward EU close.

The average half life for a hedge fund before it blows up is only 1.5 years...

Attached Image (click to enlarge)
Click to Enlarge Name: confirmedReversal.png Size: 14 KB
"Don't fear a bubble until it starts to burst."
  • #423,420
  • Feb 5, 2016 5:01am Feb 5, 2016 5:01am
Quoting meanvel
{quote} You know, one of my old rules is to never trade long on reversal down day, and never trade short on reversal up day. This is a solidly confirmed reversal down day.... {image}

Ranging now. Short GU for some profit before NFP.

KP
Do your homework, follow the footprints of smart money
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