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Cable Update (GBPUSD)

  • #434,301
  • Jul 10, 2016 10:29am Jul 10, 2016 10:29am
Quoting HaLBot
{quote} Over here in Australia we have a new government after one of the longest campaigns and waiting for the result. The incumbent conservative coalition have just scraped home by a slim margin. What this means is there will be a jump in the Aussie dollar also buoyed by rises in the equities on Friday. So the bad news for you is the Pound will continue to fall against the Aussie so if you don't want to take a lose then I would suggest you do as LauTrader suggests and take the opposite trade. You could then take another short position and start...
Do you see .77, .78 or .80, .82?
  • #434,302
  • Jul 10, 2016 11:25am Jul 10, 2016 11:25am
As a trader I only care about what will happen

Parliament will have to vote on this. And the ratio of MPs in favour of Remain was 3-1

Will this change when they get to vote that is the question
  • #434,303
  • Jul 10, 2016 11:35am Jul 10, 2016 11:35am
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well what was that about
  • #434,304
  • Jul 10, 2016 11:36am Jul 10, 2016 11:36am
its not that difficult ,think with a level head
is parliament going to stop it

A Cabinet Office spokesman said: "As the prime minister said in the Commons, we have now got to look at all the detailed arrangements, and Parliament will clearly have a role in making sure that we find the best way forward."
So it sounds like there will be some involvement from Parliament.
But, as BBC legal affairs correspondent Clive Coleman says, "it seems constitutionally inconceivable that Parliament would fly in the face of the Leave vote secured through a national referendum and refuse to pass an act that gave the prime minister authority to begin the 'divorce' process".
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #434,305
  • Jul 10, 2016 11:46am Jul 10, 2016 11:46am
Hi Everyone,

I am thinking to hedge my gbpaud position, I am currently long at 1.7660 with 5.5 lots so how should I hedge and I am not familiar with hedging can someone help me show me how to deal with a hedge afterwards ?
Thanks
  • #434,306
  • Jul 10, 2016 11:51am Jul 10, 2016 11:51am
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1 hour levels
  • #434,307
  • Jul 10, 2016 11:55am Jul 10, 2016 11:55am
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something to think about on the long side
  • #434,308
  • Jul 10, 2016 12:00pm Jul 10, 2016 12:00pm
Quoting Fx_Anil
Break of 1.2970 might trigger the GBPUSD pullback towards 1.3100 mark. {image}
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in conjunction with Anils chart
  • #434,309
  • Jul 10, 2016 12:07pm Jul 10, 2016 12:07pm
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tells its own story
  • #434,310
  • Jul 10, 2016 12:12pm Jul 10, 2016 12:12pm
I think that the gbp/usd asset would renew its maximum.
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  • #434,311
  • Jul 10, 2016 12:14pm Jul 10, 2016 12:14pm
one thing which always been a trouble for me is that buying and selling is guided by ones psyche so how can sheer lines and graphs would determine its course.sorry i am a very simple man.
  • #434,312
  • Jul 10, 2016 12:17pm Jul 10, 2016 12:17pm
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load the emas i use and we get this
  • #434,313
  • Edited 12:51pm Jul 10, 2016 12:21pm | Edited 12:51pm
Quoting artooks
Hi Everyone, I am thinking to hedge my gbpaud position, I am currently long at 1.7660 with 5.5 lots so how should I hedge and I am not familiar with hedging can someone help me show me how to deal with a hedge afterwards ? Thanks
Yes I'm trying to scare you of the very idea of hedging, following picture is my TE here in FF. I'm finally clear of the last of mine and not going there again, $500 down from my all time high, that's a lot when ya trade 0.01 per trade. Rather take the loss of any individual trade that goes against you, far easier to make that trade up than the 7/8 trades I was hedged on. Presume you got caught in the aftermath of brexit, just take the loss and build up again. Humbling to be wrong I know but far better to admit it and move on again.

(N)edge trading is another term for it,,,, newbie trading

I checked you out, you appear to be fairly new at this, personally I think your trades are way to big at this time. Preserve what remains of your trading capital, drop down to 0.01 per trade until you figure this game out. it will give you far more time to play the game, far more time to learn. One of the things you have to learn is whether you actually can trade properly.

Myself, I have around an 80% success rate, hence I am confident of my ability somewhat. But what did I learn of myself? That I had a bad habit I needed to break,,, hedging. The end of the graph shows I've leveled out. I'm looking to get back to normal trading and build up again.
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"You know what needs to be addressed , completely completely reverse that".
  • #434,314
  • Jul 10, 2016 12:22pm Jul 10, 2016 12:22pm
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day see how the open goes
  • #434,315
  • Jul 10, 2016 12:25pm Jul 10, 2016 12:25pm
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but care is needed as the tiger might be out of the cage
  • #434,316
  • Edited 12:46pm Jul 10, 2016 12:32pm | Edited 12:46pm
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month chart fail to the short side 1.2420 ish gb rte at tis time is
1 GBP1.29525

thats my chaps see you in the week gl,, regards E
  • #434,317
  • Jul 10, 2016 3:50pm Jul 10, 2016 3:50pm
I think that there is more to Brexit than we realise Bones

http://www.huffingtonpost.co.uk/entr...b074297db31287
  • #434,318
  • Jul 10, 2016 3:59pm Jul 10, 2016 3:59pm
Quoting HaLBot
{quote} Over here in Australia we have a new government after one of the longest campaigns and waiting for the result. The incumbent conservative coalition have just scraped home by a slim margin. What this means is there will be a jump in the Aussie dollar also buoyed by rises in the equities on Friday. So the bad news for you is the Pound will continue to fall against the Aussie so if you don't want to take a lose then I would suggest you do as LauTrader suggests and take the opposite trade. You could then take another short position and start...
A new Government? The coalition were in Government before the election
Come with me if you want to live....
  • #434,319
  • Jul 10, 2016 5:56pm Jul 10, 2016 5:56pm
Pound continues to the downside with immediate strong support zone around 1.2780-1.2900, further decline might be expected if break the support zone.
  • #434,320
  • Jul 10, 2016 6:35pm Jul 10, 2016 6:35pm
Quoting csc2009
Pound continues to the downside with immediate strong support zone around 1.2780-1.2900, further decline might be expected if break the support zone.

There are a couple threads with readers expecting a correction due to the massive slide. Myself, I'm undecided as to what side I should be on.

I'm not questioning your quote to give you a hard time, but I was hoping you could explain why you see another dip.

Thank you for your perspective,
Mule
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