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Cable Update (GBPUSD)

  • #434,981
  • Jul 22, 2016 5:53pm Jul 22, 2016 5:53pm
The GBPUSD has had a daily range of more than 100 pips during this week, but it has not taken a clear direction and continues consolidated between the 1.3100 and the 1.3200 levels.
  • #434,982
  • Jul 22, 2016 6:06pm Jul 22, 2016 6:06pm
well it has closed 3108 not where I wanted but as my boss said mid part ? So let's see if if we have a gap down to 3070 ish area then close the gap for me if I put my neck on the line over that gap 4200 ish area . If not we carry on with the short scalping till we find the bottom ? That is if my 61% ext is right on the chart posted . Night all regards E
  • #434,983
  • Jul 22, 2016 9:07pm Jul 22, 2016 9:07pm
The Pound is in trouble again, it could test its psychological support level at 1.3000 again.
  • #434,984
  • Jul 23, 2016 3:00am Jul 23, 2016 3:00am
Just for next week so I can find it.
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  • #434,985
  • Jul 23, 2016 3:16am Jul 23, 2016 3:16am
Quoting attilafx
Just for next week so I can find it. {image}
Its a perfect fit
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20 Pips a day keeps centerlink away
  • #434,986
  • Jul 23, 2016 3:59am Jul 23, 2016 3:59am
Weekly candle looks bearish, monthly also. I would be looking for a sell around 1,317x or 1,322x. If the FED is hawkish next week coupled with a possible rate cut of the BOE next month, this could still fall a lot more imho. Next week end of the month, let's see what kind monthly will be printed.
  • #434,987
  • Jul 23, 2016 5:13am Jul 23, 2016 5:13am
Quoting attilafx
Just for next week so I can find it. {image}
Quoting PaulDaemon
{quote} Its a perfect fit {image}
Finally my holding order will be close ........ but are you all sure?
last week bull trap me
  • #434,988
  • Jul 23, 2016 5:23am Jul 23, 2016 5:23am
Quoting PaulDaemon
{quote} Its a perfect fit {image}
Well I am with you guys but for different reasons . So gl and let's put a trader of the week award on it ? Winner gets Thailand holiday . Sun seeker yacht. Or might just be a trophy picture lol gl regards E
  • #434,989
  • Jul 23, 2016 5:25am Jul 23, 2016 5:25am
Quoting PaulDaemon
{quote} Its a perfect fit {image}
Also inverted h/s look to it if you can turn your chart upside down
  • #434,990
  • Jul 23, 2016 5:41am Jul 23, 2016 5:41am
Quoting elbert3
{quote} Well I am with you guys but for different reasons . So gl and let's put a trader of the week award on it ? Winner gets Thailand holiday . Sun seeker yacht. Or might just be a trophy picture lol gl regards E
Thai land sounds good Its my retiring destination. Long way off yet though

Quoting Mayly-May
{quote} {quote} Finally my holding order will be close ........ but are you all sure? last week bull trap me
Sawadee Krup Sa bai dee mai Krup

​Most economists are predicting pound to fall further but I think it has no reason at the moment. Since the 1st mention of the referendum,( think it was May 2015) the pound has fallen around 2600 pips. I dont think the UK economy has been devastated by this but rather led it to uncertainty. However commitment of traders shows favor to the short side.

On Wednesday UK Prelim GDP and Thursday fed policy meeting.
20 Pips a day keeps centerlink away
  • #434,991
  • Jul 23, 2016 6:07am Jul 23, 2016 6:07am
Quoting PaulDaemon
{quote} Thai land sounds good Its my retiring destination. Long way off yet though {quote} Sawadee Krup Sa bai dee mai Krup ​Most economists are predicting pound to fall further but I think it has no reason at the moment. Since the 1st mention of the referendum,( think it was May 2015) the pound has fallen around 2600 pips. I dont think the UK economy has been devastated by this but rather led it to uncertainty. However commitment of traders shows favor to the short side. On Wednesday UK Prelim GDP and Thursday fed policy meeting.
Yes right about traders selling it short for no reason . Posted that comment before . And pmi well why are British managers not buying ? That's easy the pound has been driven short by city traders easy . So what should we do . Easy take no notice to that reading , on the flip side we should see outsiders now buying up the pound so that they can buy cheaper . Tell me that all wrong ? Swaddee ka
  • #434,992
  • Jul 23, 2016 6:13am Jul 23, 2016 6:13am
Quoting elbert3
{quote} Yes right about traders selling it short for no reason . Posted that comment before . And pmi well why are British managers not buying ? That's easy the pound has been driven short by city traders easy . So what should we do . Easy take no notice to that reading , on the flip side we should see outsiders now buying up the pound so that they can buy cheaper . Tell me that all wrong ? Swaddee ka
why no reason billy?? there is a reason. the fact that UK economy and GDP depends on the services sector and that is going into contraction is a warning sign. GBP has not bottomed out still and lot of money will be lost trying to pick the bottom in this pair. Probably 1.25 is a durable bottom so we are just 600 pips away. after that much of the pressure will be away from GBP
  • #434,993
  • Jul 23, 2016 6:14am Jul 23, 2016 6:14am
Quoting attilafx
Just for next week so I can find it. {image}
you are no ways going to see such a massive move. with qe being on the table for indefinite time GBP is under pressure for 6 months atleast
  • #434,994
  • Jul 23, 2016 6:26am Jul 23, 2016 6:26am
Quoting giveachance
{quote} why no reason billy?? there is a reason. the fact that UK economy and GDP depends on the services sector and that is going into contraction is a warning sign. GBP has not bottomed out still and lot of money will be lost trying to pick the bottom in this pair. Probably 1.25 is a durable bottom so we are just 600 pips away. after that much of the pressure will be away from GBP
Hi GC well time will tell we just need to keep plugging away using or trading methods to hopefully make money out of it . Don't get me wrong if the market wants it short then I will have to go with it to protect the long term longs that I am holding . Hope your good regards B
  • #434,995
  • Jul 23, 2016 6:27am Jul 23, 2016 6:27am
Quoting elbert3
{quote} Hi GC well time will tell we just need to keep plugging away using or trading methods to hopefully make money out of it . Don't get me wrong if the market wants it short then I will have to go with it to protect the long term longs that I am holding . Hope your good regards B
what is the average position on your longs?? bail them out if average is 1.5 bcoz we are not seeing 1.5 for a long long time.
  • #434,996
  • Jul 23, 2016 6:33am Jul 23, 2016 6:33am
Quoting giveachance
{quote} what is the average position on your longs?? bail them out if average is 1.5 bcoz we are not seeing 1.5 for a long long time.
I am ok I scalp into short trades at half of the long amounts so far about total 600 pips down but over the weeks about 320 pips taken short profits so on Brit x about 380 down with 5 lots on their backs but I am fine with it all holds no threat to my Ac . Thanks anyway for your concern B
  • #434,997
  • Jul 23, 2016 6:39am Jul 23, 2016 6:39am
Quoting elbert3
{quote} I am ok I scalp into short trades at half of the long amounts so far about total 600 pips down but over the weeks about 320 pips taken short profits so on Brit x about 380 down with 5 lots on their backs but I am fine with it all holds no threat to my Ac . Thanks anyway for your concern B
Money management is the best tool for trading.
20 Pips a day keeps centerlink away
  • #434,998
  • Jul 23, 2016 6:47am Jul 23, 2016 6:47am
Quoting PaulDaemon
{quote} Money management is the best tool for trading.
I am patriotic lol don't like the thought of a Canadian running bank of E . We are doing well keeping an English football manager with the English team .
  • #434,999
  • Jul 23, 2016 7:03am Jul 23, 2016 7:03am
Quoting elbert3
{quote} I am patriotic lol don't like the thought of a Canadian running bank of E . We are doing well keeping an English football manager with the English team .
​Hey B,

How's things my good man?
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The world you desire can be won. It exists.. it is real.. it is possible..
  • #435,000
  • Jul 23, 2016 7:35am Jul 23, 2016 7:35am
Maybe ??

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20 Pips a day keeps centerlink away
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