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Cable Update (GBPUSD)

  • #425,801
  • Mar 5, 2016 2:09am Mar 5, 2016 2:09am
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persistence and determination alone are omnipotent
  • #425,802
  • Mar 5, 2016 2:13am Mar 5, 2016 2:13am
ll so what's the bottomline? Up or down?
  • #425,803
  • Mar 5, 2016 2:25am Mar 5, 2016 2:25am
ok then. here's my trade setup GU next week. BUY/LONG 4140-60 area SL is 4080 TP1 4280 TP2 4340.
  • #425,804
  • Mar 5, 2016 2:26am Mar 5, 2016 2:26am
I take long GU. It'll not go down below the lowest in 2009 level
Risk comes from not knowing what you're doing.
  • #425,805
  • Mar 5, 2016 2:27am Mar 5, 2016 2:27am
Quoting asgcorp
ll so what's the bottomline? Up or down?
Looking @ the bigger picture the downtrend is still intact. Looking at the daily there are signs it might breakout on the upsite if it manage to break 1.423X area and break the trendline or it might continue downwards will have to wait and read the candles
persistence and determination alone are omnipotent
  • #425,806
  • Mar 5, 2016 2:32am Mar 5, 2016 2:32am
Quoting Ll1979
{quote} What method (the 100 pip a week) are you currentenly using if i might ask
Later on will put up a chart and some indicators - i know it can be improved but maybe someone else can see what might be needed ..
the thing about 100 pips is its a solid amount - i prefer to make a regular amount for sure .. laters as its a free day today lol
  • #425,807
  • Mar 5, 2016 4:20am Mar 5, 2016 4:20am
I'm looking to buy on a dip (still working out where that might be), but intending on riding it up to at least 1.4345. Current momentum, and technical bias, is hugely bullish.
  • #425,808
  • Mar 5, 2016 10:00am Mar 5, 2016 10:00am
Quoting dean1star
{quote} I think the ole capatin he blew his account - i sent him a message ages ago - he came around a few times and then i guess went awol. Sure he will be back with a new plan - maybe he is working on improving his system as we all are lol .. thinking to do some scalping next week ..
shame i dont like top see that happen, but he was so good , anyway still busy but here you go , support and resistance, on the 4 hour, hope to see it open sunday with a bounce,,
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regards B
  • #425,809
  • Mar 5, 2016 1:03pm Mar 5, 2016 1:03pm
My target on G/U is 1.44-1.46, a test of the upper bollinger band line.
The Trend Is Your Friend
  • #425,810
  • Mar 5, 2016 11:00pm Mar 5, 2016 11:00pm
Quoting elbert3
{quote} shame i dont like top see that happen, but he was so good , anyway still busy but here you go , support and resistance, on the 4 hour, hope to see it open sunday with a bounce,, {image} regards B
this place moves on quickly from everyone lol ..
ever notice how after nfp this pair usually stay in range format for the week unless something inspiring decides to move it - bias has to be north with a south correction - ask yourself or anyone how many times did you see a 600 700 even 800 pip move in one direction and say i wish i had stayed in that one .. might be great for some scalping ..
  • #425,811
  • Mar 6, 2016 2:26am Mar 6, 2016 2:26am
the more one looks at a chart the more one wonders .. going to see if it bounces of 141 500 during the middle of the week
  • #425,812
  • Mar 6, 2016 2:30am Mar 6, 2016 2:30am
Quoting dean1star
the more one looks at a chart the more one wonders .. going to see if it bounces of 141 500 during the middle of the week
definately will bounce bro. only valid strat is buyback pullbacks currently. No point fighting the bull market at least not until we do a gap fill around 4400 area.
  • #425,813
  • Mar 6, 2016 2:35am Mar 6, 2016 2:35am
Quoting asgcorp
{quote} definately will bounce bro. only valid strat is buyback pullbacks currently. No point fighting the bull market at least not until we do a gap fill around 4400 area.
totally on the same page there ..
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  • #425,814
  • Mar 6, 2016 2:38am Mar 6, 2016 2:38am
Quoting Ll1979
{quote} What method (the 100 pip a week) are you currentenly using if i might ask
Previous post is the chart i like the 50 sma a lot.
best adivce is not to take my advice but see if it makes sense to you when the markets open.
Attached File(s)
File Type: ex4 #2 Access Panel (Black).ex4   190 KB | 247 downloads
File Type: mq4 #2 Access Panel (Black).mq4   163 KB | 268 downloads
File Type: ex4 KingstrendsigSig.ex4   5 KB | 272 downloads
File Type: ex4 MT4_GoodTrade 3.ex4   211 KB | 249 downloads
File Type: mq4 MT4_GoodTrade 3.mq4   90 KB | 260 downloads
  • #425,815
  • Mar 6, 2016 2:39am Mar 6, 2016 2:39am
Quoting dean1star
{quote} totally on the same page there ..
  • #425,816
  • Mar 6, 2016 4:51am Mar 6, 2016 4:51am
Quoting asgcorp
{quote} definately will bounce bro. only valid strat is buyback pullbacks currently. No point fighting the bull market at least not until we do a gap fill around 4400 area.
main trend is still down. pa imo do not look well for bulls. maybe it's a good idea to not insist on buying anymore.
  • #425,817
  • Mar 6, 2016 5:09am Mar 6, 2016 5:09am
Commitments of Traders week 9

GBPUSD after bottoming at 1.3840 regained some ground and closed the week @ 1.4220. It seems like Brexit is not in the spotlight that much any longer. It definetly helped the Cable to recover. The recent rally from 1.3840 is not reflected in this report. I would like to wait another week to see if it is suported by non-commercial positions.
Looking at the numbers, NC traders added to both – longs and shorts. They increased longs by 3.4K and added three times as much to their shorts 9.7K.
They are still deeply net short with 39K long positions vs 78K shorts.

Last week’s analysis remains in play
COT data shows the continuation of the same trend seen in the last few weeks. The levels are extreme and Non-Commercial traders are covering more short positions.
This doesn’t really give us any clear indication of the bias here. The dropping prices should support the current bearish sentiment and the price could continue much lower from here. We need to see more long positions here to consider any change in bias.
For now, the extreme scenario is still in play. Open interest shows extreme levels compared to past performance. We see that traders are dropping their shorts but are reluctant to buy the market yet. We need more data to confirm the long bias here.
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HumbleTraders
  • #425,818
  • Mar 6, 2016 6:37am Mar 6, 2016 6:37am
Quoting dean1star
{quote} Well pre nfp would say that the are holding back the sell move for either tomorrow or Friday - its the usual carry over move. Todays news seems to install the idea of expecting a positive NFP right - but they more than likely will clarify this with tomorrows usa employment claims, would be surprised if they sold off today - but retail traders and the like would say yes sell on the good news but they play a longer game these days .. sure its going higher before lower but lets wait and see..it was a strong buy move today and we all know they...
Rallying on 3 consecutive days of BAD News from Uk and +tive news from USA( NFP), if it is goinn to fill the Gap???
  • #425,819
  • Mar 6, 2016 6:51am Mar 6, 2016 6:51am
Quoting dean1star
{quote} Previous post is the chart i like the 50 sma a lot. best adivce is not to take my advice but see if it makes sense to you when the markets open. {file} {file} {file} {file} {file}
thnx m8 will have a look at
persistence and determination alone are omnipotent
  • #425,820
  • Mar 6, 2016 6:58am Mar 6, 2016 6:58am
GU. rinse and repeat of 2014. note also the timing.
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