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Cable Update (GBPUSD)

  • #442,141
  • Oct 3, 2016 4:56am Oct 3, 2016 4:56am
I see most people are buying this pair. In terms of RRR, its good play, price only has to move a small way to show you are wrong. Look at the white trendline on my chart, I have used closing prices to draw it, it therefore goes that a close below it invalidates a long position. Id say a close below 2864 is a sell trigger......

Or we could see price ranging in the green area
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GBPUSDDailytrickier.png Size: 49 KB
Click to Enlarge Name: GBPUSDDailyplay.png Size: 49 KB
I'm high on trading, cant you tell?
  • #442,142
  • Oct 3, 2016 4:59am Oct 3, 2016 4:59am
Quoting Sammih
I see most people are buying this pair. In terms of RRR, its good play, price only has to move a small way to show you are wrong. Look at the white trendline on my chart, I have used closing prices to draw it, it therefore goes that a close below it invalidates a long position. Id say a close below 2864 is a sell trigger...... Or we could see price ranging in the green area {image} {image}
100% agree below support at 2865 I'm shorting this sucker...
Don't Leave Money on the Table
  • #442,143
  • Oct 3, 2016 5:04am Oct 3, 2016 5:04am
Morning all -trying to gauge current sentiment...

there is a saying trade what you see- sometimes I dont trade what I read

So far...

Big sell off because May announces March 17 - as Article 50 being invoked
Cable dumped- Frankfurt was bearish and London really sold off Cable
Very good manufacturing figures (due to low pound)

This afternoon..

US manufacturing figures due -maybe we will have a turnaround- who knows. But think sentiment could be bearish on this going into it- so this could mute things
Was considering selling on NY open
But might actually trade the GBPAUD
Questions on the dollar and the Yen at the moment- whereas all looks cool in the cross pair- Aussie going well, pound doing poorly
If we get a decent retracement - going short.
However, if NY manu figures decent- could get another thumping
  • #442,144
  • Oct 3, 2016 5:06am Oct 3, 2016 5:06am
Quoting HaLBot
{quote} 100% agree below support at 2865 I'm shorting this sucker...
Same here(if todays close is below 2864). 2950 is also another shorting area for me. The true trendline is the magenta one, (a trendline should encompass all price action- ideally). anyone using the white one to trade is probably trying to hold on to straws
I'm high on trading, cant you tell?
  • #442,145
  • Oct 3, 2016 5:07am Oct 3, 2016 5:07am
Will gu touch 1.2990 now , or it is going down?
  • #442,146
  • Oct 3, 2016 5:29am Oct 3, 2016 5:29am
Quoting HaLBot
Thru 2880 and were back to 2900 and beyond.... Eur/Gbp hitting support at 8715
Where these statements come from? Trusted source, fundamentals, crystal ball?
  • #442,147
  • Oct 3, 2016 5:31am Oct 3, 2016 5:31am
normally price broke 1.2909. retrecement level should be there. below 1.2845 is empty room to 1.2630.

Attached Image (click to enlarge)
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  • #442,148
  • Oct 3, 2016 5:33am Oct 3, 2016 5:33am
Quoting ruma29
{quote} Where these statements come from? Trusted source, fundamentals, crystal ball?
Other than what I'm saying now I'm not even gonna bother replying.....

Ask in a repectful manner and I'll answer your question....
Don't Leave Money on the Table
  • #442,149
  • Oct 3, 2016 5:39am Oct 3, 2016 5:39am
Quoting HaLBot
Thru 2880 and were back to 2900 and beyond.... Eur/Gbp hitting support at 8715
not 0.8715 it is 0.8705 dude. anyway good cathching

Attached Image (click to enlarge)
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  • #442,150
  • Oct 3, 2016 5:40am Oct 3, 2016 5:40am
Quoting Don96
top and bottom white lines are minimal targets for both sides... lower than the red line more likely invalidates top white line target... vice versa... I already posted good place to long from 1.2870 at the start of week... better place is 1.283x, ill have biggest longs from there to target 1.38 minimum 1.41 at a stretch {image}
1.38 still there
  • #442,151
  • Oct 3, 2016 5:41am Oct 3, 2016 5:41am
Quoting P.Action
{quote} not 0.8715 it is 0.8705 dude. anyway good cathching {image}

Cheers....
Don't Leave Money on the Table
  • #442,152
  • Oct 3, 2016 5:51am Oct 3, 2016 5:51am
128 800 long.
.. Holding longs for a while longer.
  • #442,153
  • Oct 3, 2016 5:52am Oct 3, 2016 5:52am
Quoting HaLBot
{quote} Other than what I'm saying now I'm not even gonna bother replying..... Ask in a repectful manner and I'll answer your question....
Respect is deserved not assumed.
  • #442,154
  • Oct 3, 2016 5:52am Oct 3, 2016 5:52am
Quoting dean1star
128 800 long. .. Holding longs for a while longer.
Yeah Cable caught a bid at 2865...was certain it was gonna head south....
Don't Leave Money on the Table
  • #442,155
  • Oct 3, 2016 5:57am Oct 3, 2016 5:57am
Quoting ruma29
{quote} Respect is deserved not assumed.
Just so you understand and this is the last time I'll respond to this conversation anyone who has been here the last year will know I always respect the views of other traders and never use 'Put Down' to make myself feel good

Your pissed at me because I pulled you up about 'Praying' for a certain outcome.....if that's the case I apologize and use the the word 'Pray' as much as you want and I won't say anything....
Don't Leave Money on the Table
  • #442,156
  • Oct 3, 2016 6:00am Oct 3, 2016 6:00am
back in the forum and it still The same fight between members on what they think
  • #442,157
  • Oct 3, 2016 6:02am Oct 3, 2016 6:02am
Quoting adetola99
back in the forum and it still The same fight between members on what they think
I don't fight with anyone here but I won't allow myself to be put down either....
Don't Leave Money on the Table
  • #442,158
  • Oct 3, 2016 6:03am Oct 3, 2016 6:03am
#GBPUSD long pound @ 1.2865 / C @ 1.3026
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd 10-3-16.png Size: 48 KB
"W. D. Gann said that time is the most important factor among all things."
  • #442,159
  • Oct 3, 2016 6:06am Oct 3, 2016 6:06am
Quoting HaLBot
{quote} Just so you understand and this is the last time I'll respond to this conversation anyone who has been here the last year will know I always respect the views of other traders and never use 'Put Down' to make myself feel good Your pissed at me because I pulled you up about 'Praying' for a certain outcome.....if that's the case I apologize and use the the word 'Pray' as much as you want and I won't say anything....
If praying works am in... put me down for 10 Hail Marys and an Our Father long. Lets see if that wins or stops me out for being irreverent
Striving for consistency
  • #442,160
  • Oct 3, 2016 6:07am Oct 3, 2016 6:07am
Quoting HaLBot
{quote} Yeah Cable caught a bid at 2865...was certain it was gonna head south....
Pretty much can still go lower for sure -
more probability then higher yet ..
but when the systems says hey you place a trade here then i dont argue lol ..
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