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Cable Update (GBPUSD)

  • #444,641
  • Oct 28, 2016 7:54am Oct 28, 2016 7:54am
GU failed to go lower for 1.2050

Buying all dips for 1.2450...within the next 2 weeks

GL all
Make money by doing the opposite of Giveachance aka loser
  • #444,642
  • Oct 28, 2016 7:58am Oct 28, 2016 7:58am
that's what i like to see

now close that way

4 hour
Attached Image (click to enlarge)
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Be hopeful in a winning position, and fearful in a losing position.
  • #444,643
  • Oct 28, 2016 7:59am Oct 28, 2016 7:59am
looks like dollar selling friday no matter the gdp results. USDX 1h nice pinbar.
  • #444,644
  • Oct 28, 2016 8:13am Oct 28, 2016 8:13am
Quoting mades
looks like dollar selling friday no matter the gdp results. USDX 1h nice pinbar.
If you think so sell the dollar.
  • #444,645
  • Oct 28, 2016 8:44am Oct 28, 2016 8:44am
Getting tedious isn't it...So here we are back at the governing trend line in the mid time frames that's dictated the range for days now..and yes I am Long, building into a swing and scalping out en route.

There are so many variants to technical analysis nowadays but simple 'sloping' trendlines still have their place for establishing direction supported by horizontal trendlines to establish price demand and supply points.
Attached Image (click to enlarge)
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  • #444,646
  • Oct 28, 2016 8:49am Oct 28, 2016 8:49am
Quoting FXClarity
Getting tedious isn't it...So here we are back at the governing trend line in the mid time frames that's dictated the range for days now..and yes I am Long, building into a swing and scalping out en route. There are so many variants to technical analysis nowadays but simple 'sloping' trendlines still have their place for establishing direction supported by horizontal trendlines to establish price demand and supply points. {image}
With the good US data, you still long? What's keeping you on that line ?faith? Technicals?
  • #444,647
  • Oct 28, 2016 9:00am Oct 28, 2016 9:00am
Quoting yuddy
{quote} With the good US data, you still long? What's keeping you on that line ?faith? Technicals?
Hi Yuddy..That line has governed PA for days hasn't it.

Some are trading it short ( IBB - with trend) - others (R2R and me) have traded it long using it as a marker off a 4 hour chart swing.

I've traded below for a breakout up which has failed (thus far) and scaled through it each time but with a 'jab and move' approach I'm now 198 pips up on the week (closed trades).

That's the joy of the market I guess..Find the line in the sand and trade accordingly - money management is simple enough:

 

  1. Hit it, beyond the line
  2. Scale and trail when it meets it
  3. Close or hold beyond it

  • #444,648
  • Oct 28, 2016 9:02am Oct 28, 2016 9:02am
Quoting FXClarity
Getting tedious isn't it...So here we are back at the governing trend line in the mid time frames that's dictated the range for days now..and yes I am Long, building into a swing and scalping out en route. There are so many variants to technical analysis nowadays but simple 'sloping' trendlines still have their place for establishing direction supported by horizontal trendlines to establish price demand and supply points. {image}
Graphical beautiful, simple and easy reading ... congratulations!
  • #444,649
  • Oct 28, 2016 9:05am Oct 28, 2016 9:05am
..See how its 'Pin bar'ing on it now?

Thats the indecision because sellers are reloading shorts and buyers are scaling out profits..This line is the war zone
  • #444,650
  • Oct 28, 2016 10:08am Oct 28, 2016 10:08am
Last trade of the week.
BUY: GBP/USD
TARGET 121.80
It's a big game.
  • #444,651
  • Oct 28, 2016 10:11am Oct 28, 2016 10:11am
constant rejection with no follow through at 1.2190 seems to me like shorts are unloading, once they're done, we can break 1.22
  • #444,652
  • Oct 28, 2016 10:27am Oct 28, 2016 10:27am
EURGBP is breaking 0.9, son of a bitch!
  • #444,653
  • Oct 28, 2016 10:33am Oct 28, 2016 10:33am
nope, i don't think it'll break 1.22 until asian session next sunday...
  • #444,654
  • Oct 28, 2016 10:34am Oct 28, 2016 10:34am
All the way down to new lows! but...still very risky to open position now, weekend...month-end...profit taking...
The big players such as big banks and hedge funds close their positions for the weekend on Fridays and before the end of the month.
This is mainly done for security reasons as they don’t want to have their huge positions left open without sufficient supervision
  • #444,655
  • Oct 28, 2016 11:33am Oct 28, 2016 11:33am
I'm still short.
In 4H chart, I see LH and LL.
RSI still below 50.
Still below middle line of Bolinger Bands.
Don't trust me. I'm still newbie
  • #444,656
  • Oct 28, 2016 12:23pm Oct 28, 2016 12:23pm
Quoting funzodundee
Last trade of the week. BUY: GBP/USD TARGET 121.80

Have a nice weekend everyone
It's a big game.
  • #444,657
  • Oct 28, 2016 12:25pm Oct 28, 2016 12:25pm
Quoting FXClarity
{quote} Hi Yuddy..That line has governed PA for days hasn't it. Some are trading it short ( IBB - with trend) - others (R2R and me) have traded it long using it as a marker off a 4 hour chart swing. I've traded below for a breakout up which has failed (thus far) and scaled through it each time but with a 'jab and move' approach I'm now 198 pips up on the week (closed trades). That's the joy of the market I guess..Find the line in the sand and trade accordingly - money management is simple enough: Hit it, beyond the line Scale and trail when it meets...
**smiles, nice that you gat some military approach to the game. Wait a min, pals is GU trying to crack that 2185 line ??
  • #444,658
  • Oct 28, 2016 12:30pm Oct 28, 2016 12:30pm
Quoting funzodundee
{quote} Have a nice weekend everyone

Very accurate calls mate. Enjoy your weekend.
  • #444,659
  • Oct 28, 2016 12:45pm Oct 28, 2016 12:45pm
Quoting hilmy83
nope, i don't think it'll break 1.22 until asian session next sunday...
getting direction right, timing bit off, o well. Good day nonetheless

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  • #444,660
  • Oct 28, 2016 2:06pm Oct 28, 2016 2:06pm
Quoting hilmy83
{quote} getting direction right, timing bit off, o well. Good day nonetheless {image}
Damn that's some serious leverage. Although I'm assuming you keep only a very small portion of capital I your account so it's probably not as leveraged as it looks.
Be hopeful in a winning position, and fearful in a losing position.
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