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Cable Update (GBPUSD)

  • #437,881
  • Aug 25, 2016 1:49pm Aug 25, 2016 1:49pm
Quoting voty
{quote} Aha hmm nice. But for me it looks too complicated. What I see is my sell signal: bearish divergence and double top on H4. Shorts placed @1.3175, SL 1.3300. First target 1.3030 (may be revised). {image}
Hmm nice, so barely missed stop during the peaks (30 pips away from 130 pips SL). Now kissing my entry level 1.3175.
I've reloaded more shorts during the move against me so currently sitting on some nice profit and tempted to close them...
1st target revised to @1.3135, 2nd is @1.3050 and 3rd @1.2900. All three slightly above Fibonacci levels 61.8, 100 and 161.8 from the last move.
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buying tops / selling bottoms
  • #437,882
  • Aug 25, 2016 2:05pm Aug 25, 2016 2:05pm
My last trade hit SL. Last point before I turn bearish here.
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I'm high on trading, cant you tell?
  • #437,883
  • Aug 25, 2016 2:16pm Aug 25, 2016 2:16pm
Quoting iamawaited
{quote} your MACD is going down and u are buying?? Well... i am Martingale selling though. i have loaded plenty sells for a ride down.. if it goes higher i add more!! GL
Oh, the MACD, I use the zero line not direction of histogram. Good day for you m8
I'm high on trading, cant you tell?
  • #437,884
  • Aug 25, 2016 3:00pm Aug 25, 2016 3:00pm
Quoting Sammih
My last trade hit SL. Last point before I turn bearish here. {image}
Interesting how two can see very different things on the same H1 chart. I see the bullish channel broken long time ago.
I think you're placing the trend lines where you want to see them, not where it's actually heading.
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buying tops / selling bottoms
  • #437,885
  • Aug 25, 2016 3:03pm Aug 25, 2016 3:03pm
Quoting Sammih
{quote} Oh, the MACD, I use the zero line not direction of histogram. Good day for you m8
Thanks Man! wishing u more and more TP hits!!
Meanwhile i am using EurGbp to set Hot traps for GU.. Next Trap Formation!!
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Trading Eternal...... Shiny & Chrome!!!!
  • #437,886
  • Aug 25, 2016 3:30pm Aug 25, 2016 3:30pm
Quoting Fader123
{quote} Started to bounce - got some pips {image}
Look at that went back to re-test 1.317 and then went straight back to 1.31900

Missed it
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  • #437,887
  • Aug 25, 2016 4:34pm Aug 25, 2016 4:34pm
cable d1 news tomorrow ,it could b BOE have a problem with inflation ,brought on by there own sledge hammer /walnut actions,devalue GBP
the problem is in the end there have to counter previous policy to maintain limits on the inflation upside ,or at least we would know they can not go further,
anyhow id see the open before straight trade bear
Attached Image(s) (click to enlarge)
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #437,888
  • Aug 25, 2016 4:46pm Aug 25, 2016 4:46pm
excellent ,good enough for me
no idea why your last call was ignored ,lets not bother with too many details it confusing
if your right I guess your be back


Quoting Daaimali1512
Hi Guys, i would go down from now as i mentioned before 2 weeks ago it has reached the 1.32/.3250 area. Now will go down to 1.25/26 area soon. So be careful while buying GBP/USD on this stage. it looks very very risky. For long terms traders it's a great opportunity to go short at least till 1.28 1st TP and 2nd TP 1.2650 3rd Tp 1.250
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #437,889
  • Aug 25, 2016 5:09pm Aug 25, 2016 5:09pm
Quoting Bones
cable d1 news tomorrow ,it could b BOE have a problem with inflation ,brought on by there own sledge hammer /walnut actions,devalue GBP the problem is in the end there have to counter previous policy to maintain limits on the inflation upside ,or at least we would know they can not go further, anyhow id see the open before straight trade bear {image} {image} {image}
hi B well said as I posted he jumped the gun might be he gets fired lol regards B
  • #437,890
  • Aug 25, 2016 5:36pm Aug 25, 2016 5:36pm
Quoting Bones
cable d1 news tomorrow ,it could b BOE have a problem with inflation ,brought on by there own sledge hammer /walnut actions,devalue GBP the problem is in the end there have to counter previous policy to maintain limits on the inflation upside ,or at least we would know they can not go further, anyhow id see the open before straight trade bear {image} {image} {image}
HI Bones, nice to see clear chart, I know you since 4 years ago with very good charting here, simple but very clear and easy to understand. The thing needed in chart reading to avoiding confusing and bias. I think we will see better rather than many indicator. I even more often trade from android platform based on candle pattern, even without drawing fibo, trend line etc, and I improve my trade significantly.

Cable was not able to break yesterday daily low, but also made lower high, but the price close lower than yesterday opening based on this I think bearish give more reason today. It will be good for me to sell from 1.3220-3240 area if the price get there, but we see

Good luck

Regards
KG
  • #437,891
  • Aug 25, 2016 6:29pm Aug 25, 2016 6:29pm
Quoting Daaimali1512
{quote} i think no one read my post on 10th august i had informed everyone not to go long at that stage. But i think everyone just ignore my post due to newbie... Let's see and watch again my post... Watch the market even now you can take short positions till 1.25 and 1.26 area.
I think we are mostly visual learners around these parts.

We don't read too good, need some pictures please :nerd:

Come with me if you want to live....
  • #437,892
  • Aug 25, 2016 6:41pm Aug 25, 2016 6:41pm
well E, took it all fricking day but it got my S1 tgt by a whisker, currently sitting at last weeks high, still say it hits 1.33, Im still biased tht way, I have some tgts there lol , stops in the money so what ever(Quarterly open,) bit of red news so some volatility expected , will give the big dogs a reason to push it where ever its gonna get pushed,,,,,,,,,,,,,, the 1.3159 60 ish area seems to be the line in the sand news should spike it either side of that, ought to be a good Friday, updated 8 hour chart ,
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Now an 8 hour chart for the conspiracy theorists out there lol, had a great day just a mood lightener.
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  • #437,893
  • Aug 25, 2016 7:55pm Aug 25, 2016 7:55pm
I am still long from the monthly pivot @ 1.3170 area.

It looks like there is broad GBP strength across all pairs atm so holding long for now.
Attached Image (click to enlarge)
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  • #437,894
  • Aug 25, 2016 8:11pm Aug 25, 2016 8:11pm
Quoting el_duende
I am still long from the monthly pivot @ 1.3170 area. It looks like there is broad GBP strength across all pairs atm so holding long for now. {image}
I am holding long too , still thinking it spikes up to the 1.33 area , rather heavy long sprinkled just above and and below the 1.30 area , looking for that 1.33 spike lol
  • #437,895
  • Aug 25, 2016 8:17pm Aug 25, 2016 8:17pm
Thats my thought too aiming for 1.33.

However this week has been a poor trading week for me so to top the week off no doubt price will crash to 1.30
  • #437,896
  • Aug 25, 2016 9:37pm Aug 25, 2016 9:37pm
Quoting Afarensis
{quote} Nice trades, i am looking your trade explorer, Why you do not use stop loss?
Hello Friends,
It is possible not to use a stop loss and stay safe on your account. Forex is a business and not a rich-on-demo escapist scheme , neither is it a programme designed to put anyones life into frustration. If you have been trying to trade without a stoploss and failing ,maybe,you have not been doing it rightly. If you are using stoploss ,it can even be a source of more losses,you enter a trade ,it hits your stoploss and reduces your equity ,you enter again it hits your stop loss ,making it look as if your acct is growing and reducing at the same rate. PLEASE this advice is not for everyone...it is for those who are ready to accept the bitter truth.it is not for scalpers,it is not for traders who trade below the 4hr time frame.it is not for those who trade fundamental but those who use it as a guide .Pls note this

With a leverage of 1: 500 or even unlimited leverage,If you have an account of $10000 and you use a minimum of 0.01lot or a maximum of 0.1 lots on that account without stoploss. There is no way the account will get blown out. And you do not add any more trade when you get to that maximum. Even if a trade goes againt you wait for it to recover,even if it will take weeks you wait, let waiting in patience be your style...that was why I said this post is meant for those who actually understand the rhythm of market flow not just for everyone..
  • #437,897
  • Aug 25, 2016 11:26pm Aug 25, 2016 11:26pm
Quoting el_duende
I am still long from the monthly pivot @ 1.3170 area. It looks like there is broad GBP strength across all pairs atm so holding long for now. {image}
It looks like a wave, and it makes me want to close my sell
A good strategy for trading is... the opposite of having a bad strategy.
  • #437,898
  • Aug 25, 2016 11:40pm Aug 25, 2016 11:40pm
Quoting PowerTrade
{quote} It looks like a wave, and it makes me want to close my sell

I'm predicting a Euro/UK session rally before settling down and waiting on the all important Yellen speech at 1.30pm London time....

So far Gbp/Usd price has been supported for last 4 days by the 5ema and is just below the 200ema on the 4 hour charts....with Yellen in focus I don't see price heading south until that speech if Yellen gives some fuel to the prospect of a US rate raise sooner than later...

On the other hand if the markets think her speech means even more time before eventual US rate rise then Gbp will go over 3300 IMHO...
Don't Leave Money on the Table
  • #437,899
  • Aug 26, 2016 12:01am Aug 26, 2016 12:01am
Quoting HaLBot
{quote} I'm predicting a Euro/UK session rally before settling down and waiting on the all important Yellen speech at 1.30pm London time.... So far Gbp/Usd price has been supported for last 4 days by the 5ema and is just below the 200ema on the 4 hour charts....with Yellen in focus I don't see price heading south until that speech if Yellen gives some fuel to the prospect of a US rate raise sooner than later... On the other hand if the markets think her speech means even more time before eventual US rate rise then Gbp will go over 3300 IMHO...
Her theoretical/academic speeches at Jackson Hole rarely move the market. I think she would have to say something very out of the ordinary related to monetary policy to create any excitement. Not expecting much in that department a week out from next nfp
Come with me if you want to live....
  • #437,900
  • Aug 26, 2016 12:14am Aug 26, 2016 12:14am
Quoting Ill-b-back
{quote} Her theoretical/academic speeches at Jackson Hole rarely move the market. I think she would have to say something very out of the ordinary related to monetary policy to create any excitement. Not expecting much in that department a week out from next nfp
OK I'm basing my judgement on the fact the markets didn't move much last day or so and there looks like there's a lot of emphasis being put on her speech this year....

What else have the markets been waiting for this week if not that speech?
Don't Leave Money on the Table
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