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Cable Update (GBPUSD)

  • #424,721
  • Feb 20, 2016 4:37pm Feb 20, 2016 4:37pm
Quoting Bones
You are right ,no other job ,certainly ramps the pressure ,Billy you think id leave you here all alone {quote}
Lol. You carnt , we just went into the addiction thing lol i read your charts and some times you nail it,sorry about the some times lol. If you go for a walk with a dog,, ? And you know where it is going, i hope you trade with conviction, you should by now have a good acc. If not you dont belive in your charting, and you should do, regards B
  • #424,722
  • Feb 20, 2016 4:40pm Feb 20, 2016 4:40pm
Quoting Davit
{quote} Still open
very good trader this guy, just read his posts ,regards B
  • #424,723
  • Feb 20, 2016 4:41pm Feb 20, 2016 4:41pm
Night guys regards E or B to the mates x
  • #424,724
  • Feb 20, 2016 4:44pm Feb 20, 2016 4:44pm
Quoting Bones
7 major currencies ? The major currencies and their designation in the foreign exchange market are the US dollar (USD), euro (EUR), Japanese yen (JPY), British pound (GBP), Australian dollar (AUD), Canadian dollar (CAD), and the Swiss franc (CHF). EU is the mostly widely traded i believe {quote}
Sorry Tony but Mikey aka the Meanvel says its not so i gotta go with him on this one if you know what i mean - sorry about that Tony no hard feelings ok
ME and Mikey we going for a 400 pip run next week on the pound dollar - he says to buy in asia and by friday it will be at least 350 pips higher.

Pretty friggen awesome if you ask me ..
  • #424,725
  • Feb 20, 2016 4:46pm Feb 20, 2016 4:46pm
Quoting elbert3
{quote} Hi dig hope your good , sitting here watching rod stewart and posting to you guys, wife in bed just on the vino, my boss has joined us, ,,, regards Mr S lol ,, hic
Hey B,

Just checking in, figured as much, either you make more sense or none at all.

Enjoy and Regards.
The world you desire can be won. It exists.. it is real.. it is possible..
  • #424,726
  • Feb 20, 2016 4:50pm Feb 20, 2016 4:50pm
Quoting elbert3
{quote} Lol yes bb , is the new name, i found addiciton was in my life when it did not need to be there a while ago, ? Ff and fx trading was taking over, first thing in the morning and last thing at night, but when you find the road that is on you can then drive it when you want to ? I go for walks with the dog and think the big picture, but i also look atbthe now time for entering positions. I think my 1st touch tl works i know that cable has candle formations that work, i can just find them see them and set them out to a trade, look back at a...
100 pips aweek is do able for sure in this pair - but totally agree how this place and forex can make you just feel somewhat more grateful of the world around you ..
  • #424,727
  • Feb 20, 2016 5:23pm Feb 20, 2016 5:23pm
Quoting Luzbay
{quote} Nerves of steel What's your average entry level? Good luck with your trades.
Luz
I trade with multiple entries since I don't know the bottom or top but my entries are on key pivots,chart patterns like double top,bottom etc.
GU clearly hit weekly bottom.
Not going into details how I trade but basically I attack a move and build a position.I average 20-30% a month.I risk more then 2% when I see a good opportunity.Think of fish net vs harpooning a fish.I use a net.
Regards
In trading, you have to be defensive and aggressive at the same time
  • #424,728
  • Feb 20, 2016 5:24pm Feb 20, 2016 5:24pm
Quoting elbert3
{quote} very good trader this guy, just read his posts ,regards B
Thanks friend for the vouch but I have my bad days as well.
Regards
In trading, you have to be defensive and aggressive at the same time
  • #424,729
  • Edited 5:55pm Feb 20, 2016 5:39pm | Edited 5:55pm
Quoting dean1star
{quote} Oh right then Mikey so when they list pairs such as major like this lets say then they are making amistake and the euro dollar is not infact a major pair.
Nope...
https://en.wikipedia.org/wiki/Eurodollar
"The term was originally coined for U.S. dollars in European banks, but it expanded over the years to its present definition—a U.S. dollar-denominated deposit in Tokyo or Beijing would be likewise deemed a Eurodollar deposit. There is no connection with the euro currency or the eurozone."

Eurodollar futures were one of the most popular futures to trade when the CME introduced them. If a trader mentions Eurodollars he is most likely talking about CME Eurodollar futures.

"The Eurodollar futures contract was launched in 1981, as the first cash-settled futures contract. People reportedly camped out the night before the contract’s open, flooding the pit when the CME opened the doors. That trading pit was the largest pit ever, nearly the size of a football field, and quickly became one of the most active on the trading floor, with over 1500 traders and clerks coming to work every day on what was then known as the CME’s upper trading floor."

Many people make the mistake of confusing the Eurodollar with the EUR/USD. Totally different instruments... I don't think the Eurodollar is very popular anymore because of this interest rate environment.
"Don't fear a bubble until it starts to burst."
  • #424,730
  • Feb 20, 2016 6:58pm Feb 20, 2016 6:58pm
Quoting alayinizAMK
{quote} so true i get logic, think im doing same sort of thing by using other currencies as mediums. usually 3 pairs made of 3 currencies. lets say gu, gj and uj in this case. {quote} it surely was some ugly pa before close, maybe there is something to it.

Yes I agree, looks like it
"W. D. Gann said that time is the most important factor among all things."
  • #424,731
  • Feb 20, 2016 7:14pm Feb 20, 2016 7:14pm
Quoting dean1star
{quote}ME and Mikey we going for a 400 pip run next week on the pound dollar - he says to buy in asia and by friday it will be at least 350 pips higher.
Honestly... The speculation we all do in here is quite entertaining fun, but that's all it is. Don't trade off speculation. Speculators lose most of the time. Actually, they technically only just have price rip below their positions as each bubble of excitement they helped bid up goes bust. Most speculators, especially retail are weak hands which puke out in the retraces and go tapioca resulting in losses... Regardless of if the trend has changed or not.

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If I miss a lot of the the rides upward as the bubble of excitement inflates, do I care? There will always be the ride back downward and the next ride upward where more trade setups will appear. I don't hold through retraces. I don't care for feeling the squeeze.

It's fun to speculate and good to somewhat expect a certain scenario, but when you place trades... Only take good setups.
"Don't fear a bubble until it starts to burst."
  • #424,732
  • Feb 20, 2016 7:21pm Feb 20, 2016 7:21pm
Dean, remember... It was the people excitedly speculating on Silver going to $150 which drove it up to $49. It was the people excitedly speculating on Bitcoin going to $10,000 which drove it from $100 to $1,000.

The hype nearly always exceeds the reality the limited amount of speculative money a market move can attract before it runs out of steam.

If you can remain in control of your actions, it's best to synchronize your emotions with the crowd and the market IMO. Nothing wrong with being excited and emotional syncing yourself psychologically with the herd as long as you control your actions.
"Don't fear a bubble until it starts to burst."
  • #424,733
  • Feb 20, 2016 7:25pm Feb 20, 2016 7:25pm
Got to cut the noise down.
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In trading, you have to be defensive and aggressive at the same time
  • #424,734
  • Edited 8:29pm Feb 20, 2016 8:08pm | Edited 8:29pm
#GBPUSD did some calculation on price and time, if my calculation are correct pound could trend higher until 3-3-16 for a swing pivot high and then do a correction...
the 1st price target i have is 1.4982ish give or take but some were close to that price... if it continues higher I will have a another price target. but for now lets work with this one... but the key is 3-3-16..... I will watch PA on Sunday open if its very bullish I will jump on board and see how it pans out....

That is my game plan for next week
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"W. D. Gann said that time is the most important factor among all things."
  • #424,735
  • Feb 21, 2016 12:54am Feb 21, 2016 12:54am
Quoting Mr. Scott
{quote} Hey B, Just checking in, figured as much, either you make more sense or none at all. Enjoy and Regards.
Hey S , it all makes sense to me lol one just has to be in the right sense of mind to read it, be good sense , bad sense, or none sense, lol i am just ino sense ? Lol to a point, just laying in bed cup of tea ,the birds are all in song, singing their hearts out, sounds of the countryside , and it is all free, how lucky are we , regards as ever ,have a good day Mr S , B
  • #424,736
  • Edited 1:23am Feb 21, 2016 1:12am | Edited 1:23am
Quoting meanvel
{quote} Nope... https://en.wikipedia.org/wiki/Eurodollar "The term was originally coined for U.S. dollars in European banks, but it expanded over the years to its present definitiona U.S. dollar-denominated deposit in Tokyo or Beijing would be likewise deemed a Eurodollar deposit. There is no connection with the euro currency or the eurozone." Eurodollar futures were one of the most popular futures to trade when the CME introduced them....
Hey Mikey you obviously have not understood the question with so many replies - but look nevermind - cool bud laters its a family day today
  • #424,737
  • Feb 21, 2016 1:13am Feb 21, 2016 1:13am
Quoting elbert3
{quote} Hey S , it all makes sense to me lol one just has to be in the right sense of mind to read it, be good sense , bad sense, or none sense, lol i am just ino sense ? Lol to a point, just laying in bed cup of tea ,the birds are all in song, singing their hearts out, sounds of the countryside , and it is all free, how lucky are we , regards as ever ,have a good day Mr S , B
E have a great day out there ..
  • #424,738
  • Edited 1:47am Feb 21, 2016 1:26am | Edited 1:47am
Funny thread these days! I do remember the great cable update days of nAVIN2007,fontu, PoundTrader,Bones,albchr, GlobalMacro and the ever colourfull HDA. I sure miss the old times!!!
  • #424,739
  • Feb 21, 2016 1:28am Feb 21, 2016 1:28am
Morning Guys,

My Daily view
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persistence and determination alone are omnipotent
  • #424,740
  • Feb 21, 2016 1:59am Feb 21, 2016 1:59am
H1 + H4 view
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persistence and determination alone are omnipotent
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