Cable Update (GBPUSD) | Page 22284 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

GBP/USD

Similar Threads

Cable Update - Continued 118 replies

Cable Update (GBP/USD) without Idiots 25 replies

cable short for gbpusd? 10 replies

Why is GBPUSD called cable? 76 replies

Cable (GBPUSD) vs Euro (EURUSD) 31 replies

Attachments: Cable Update (GBPUSD)
Exit Attachments

Cable Update (GBPUSD)

  • #445,661
  • Nov 22, 2016 12:42am Nov 22, 2016 12:42am
16/11/22 TUESDAY 08:53 +1GMT (edited untill 08:57)
EARLY MORNING REPORT
Ubi maior minor cessat
  • #445,662
  • Nov 22, 2016 12:49am Nov 22, 2016 12:49am
Quoting yuddy
{quote} Source of news pls
Sorry, Reuters wire
  • #445,663
  • Nov 22, 2016 2:42am Nov 22, 2016 2:42am
Quoting dean1star
{quote} Maybe you should take a look at your own posts and do some positive reflection on them - before sending out this kinda crap. I am serious man - you question people all the day - why this, what about that - your direction advise is best left for others to praise you and yet you say stuff like this to what get you noticed what is it attention needed rather than trading - advice offered put up or shut up - one chart in 5 plus years might just be a starting place.
Think you're being a bit harsh there, Dean1star.
Yuddy is clearly trying to learn and, rightly, he might expect a forum to help him along the way rather than for people just to simply say that they took this or that. How rarely do contributors stand up and say "F*ck it, just lost a fortune on that one because . . ." or put up a cogent explanation as to what trade they are looking at and why.
Were you to read this (and most other forums in must be said) in isolation, you would believe that everyone who trades is a genius and making a fortune where the reality is that few make money and most people on here (and elsewhere) are either trading demo accounts or 10p per pip or doing it simply for fun.
Personally, I'm not good enough to offer explanations or advice as to the trades I take, which might explain my singular lack of success over the years. However, I'm getting better and, when I'm more confident about it, then I'll put my reasoning out there for discussion.
Currently, I'm in a EurUSD trade which I sold at 1.0885, hoping for 1.04 and a GBPUSD which I sold this morning at 1.2486 looking to come down to 2160 - and I'll happily explain my reasoning if you're at all interested.
  • #445,664
  • Nov 22, 2016 2:50am Nov 22, 2016 2:50am
Quoting Devonsent
{quote} Think you're being a bit harsh there, Dean1star. Yuddy is clearly trying to learn and, rightly, he might expect a forum to help him along the way rather than for people just to simply say that they took this or that. How rarely do contributors stand up and say "F*ck it, just lost a fortune on that one because . . ." or put up a cogent explanation as to what trade they are looking at and why. Were you to read this (and most other forums in must be said) in isolation, you would believe that everyone who trades is a genius and making a fortune...
I know where your at Devonsent but honestly i let his posts speak for themselves, always late, lagging, never or very rarely a position put up and never in his whole tenure here one single chart has been placed - when he is wrong he just hopes we forget what he said - never one correction on his mistakes - sure newbies need help but he's been here 5 years - come on man 5 years. Cant agree with you on this, will stand with my comments be them right or wrong. Who am i to even contemplate correcting anyone anywhere i am but a nobody but on this subject and reasons i stand with my opinion. Enough said done 60 pips on the morning scalping so back to fun. BTW when i loose i say so - and i let my posts speak for themselves. Enough said.
  • #445,665
  • Nov 22, 2016 3:06am Nov 22, 2016 3:06am
Quoting dean1star
{quote} I know where your at Devonsent but honestly i let his posts speak for themselves, always late, lagging, never or very rarely a position put up and never in his whole tenure here one single chart has been placed - when he is wrong he just hopes we forget what he said - never one correction on his mistakes - sure newbies need help but he's been here 5 years - come on man 5 years. Cant agree with you on this, will stand with my comments be them right or wrong. Who am i to even contemplate correcting anyone anywhere i am but a nobody but on...
I wouldn't know about lagging comments or whatever - to be honest, whilst I always have my trading software open, I simply don't have the energy, time or patience to scalp (I also lot a bloody fortune scalping in the first couple of years; always buying at the top, selling at the bottom or trading just before a change of direction). I find that swing trading is better for me . . . with bloody great Stop Losses . . . just follow the trend!
This current EURUSD trade, for example, has been as much as +320 but is now at +225 - with my history, had I tried to scalp, I'd have Sold at 1.057! LOL!
  • #445,666
  • Nov 22, 2016 3:14am Nov 22, 2016 3:14am
Quoting dean1star
{quote} I know where your at Devonsent but honestly i let his posts speak for themselves, always late, lagging, never or very rarely a position put up and never in his whole tenure here one single chart has been placed - when he is wrong he just hopes we forget what he said - never one correction on his mistakes - sure newbies need help but he's been here 5 years - come on man 5 years. Cant agree with you on this, will stand with my comments be them right or wrong. Who am i to even contemplate correcting anyone anywhere i am but a nobody but on...
Dean in the building, Lol, sup broh? Don't get it twisted, I registered 5yrs ago but just starting using and posting here few months ago but still not anything about my experience in Fx. We are not shooting at each other. I just put up that alarm so there be some revival of real business and economic analysis here. I have explain to ya that I don't put up charts here for many there be already. I could elaborate or diaapprove a call someone put up, all towards education. However let's revive a thorough business and excellent analytical community here. Great respect to y'all.
  • #445,667
  • Nov 22, 2016 3:24am Nov 22, 2016 3:24am
Does anyone have any scalping methods that they could direct me to?

I only trade GU and I stack my trades, I'm confident in trading in the right direction but would prefer to know how to up my lot size on shorter time frame scalps in the direction of my stacked medium term trades.

Cheers..
  • #445,668
  • Nov 22, 2016 3:26am Nov 22, 2016 3:26am
Quoting Devonsent
{quote} I wouldn't know about lagging comments or whatever - to be honest, whilst I always have my trading software open, I simply don't have the energy, time or patience to scalp (I also lot a bloody fortune scalping in the first couple of years; always buying at the top, selling at the bottom or trading just before a change of direction). I find that swing trading is better for me . . . with bloody great Stop Losses . . . just follow the trend! This current EURUSD trade, for example, has been as much as +320 but is now at +225 - with my history,...
Yeh we all been there Devonsent - 3 times i blew that account lol .. but the page gets turned eventually if you stick at it seems your way was similar - not to give up.
Nice shout on the trade btw its funny i prefer the longer trade but find scalping on pound dollar easier - bought at 124 500 so lets see how it plays into the afternoon.
Btw this place is a great forum for traders thats for sure whoever you maybe and from wherever.
  • #445,669
  • Nov 22, 2016 3:35am Nov 22, 2016 3:35am
Quoting Derivative92
Does anyone have any scalping methods that they could direct me to? I only trade GU and I stack my trades, I'm confident in trading in the right direction but would prefer to know how to up my lot size on shorter time frame scalps in the direction of my stacked medium term trades. Cheers..
Pyramiding into moves is extremely effective - key to this success is both in the timing and position sizing.

Here is a link to almost every trading book out there and many have detailed money management techniques for this: http://www.forex-warez.com/Free%20Download

..Free downloads for your viewing pleasure...Enjoy
  • #445,670
  • Nov 22, 2016 3:38am Nov 22, 2016 3:38am
Quoting hippiedog
1min tf, weak signal tp at 1.2427.
hd hedonist in nirvana
FREEDOM IS SECURITY.
  • #445,671
  • Nov 22, 2016 3:41am Nov 22, 2016 3:41am
Quoting 966531155566
Am selling cable ( 1.249-1.251) stop@ 1.253, us rate hike cumin+ I see it as a good sell to continue the overall trend gonna go with it somewhere between 300-500 pips
It could well go that way - but personally I'm inclined to think that a December rate hike in the U.S. is already priced into the market since that's been considered virtually a sure thing almost all year long.
Writer, currency trader, madman
  • #445,672
  • Nov 22, 2016 3:54am Nov 22, 2016 3:54am
Quoting Devonsent
{quote} I also lot a bloody fortune scalping in the first couple of years; always buying at the top, selling at the bottom or trading just before a change of direction
Gosh, Devonsent, that has never happened to me.
Oh, wait, I meant to say "always", not "never".
I used to brag to people that I could pinpoint the exact top in a market....that would be the price I bought at. I told a friend/fellow trader one morning - "Just exactly fade all my trades - you'll be a millionaire by lunchtime.".
You really can start to get paranoid, thinking, "All the major banks are purposely aiming to hit my stops!"
Writer, currency trader, madman
  • #445,673
  • Nov 22, 2016 4:09am Nov 22, 2016 4:09am
Quoting FXClarity
{quote} Pyramiding into moves is extremely effective - key to this success is both in the timing and position sizing. Here is a link to almost every trading book out there and many have detailed money management techniques for this: http://www.forex-warez.com/Free%20Download ..Free downloads for your viewing pleasure...Enjoy
Thank you. Appreciated. I'll take a look now.
  • #445,674
  • Nov 22, 2016 4:21am Nov 22, 2016 4:21am
In response to the complaint that people fail to provide the rationale for their trades, here's my reason for accumulating long positions in Gbp/Usd from 1.2050 and higher:

1) I think the reaction to Brexit was massively overdone - the UK economy was stronger than almost all EU economies before it ever joined the EU, and it still is. It's not going to collapse as a result of Brexit. There's a greater likelihood of the EU collapsing.
2) 1.2000 is, historically, very, very low for Gbp/Usd.
3) Way too many downside gaps, on multiple time frames, waiting for the market to move back up and fill in.

I'm also long Gbp/Aud, from 1.5965 and up - just picked up a couple more positions at 1.6800 this morning - Reasoning: Massive, pretty much unrelenting (only one correction in the past year has even carried back up as far as the 50-period moving average level) drop from around 2.1000 to about 1.6000, while the average for the pair over the past 10 years is up around 2.0000. Also, if you look at the weekly chart, the current price is about as far away from the 50-period EMA as its ever been over the past several years - and just touching that 50 EMA would get you all the way to 1.8000. And again you've got a lot of gaps to the downside waiting to be filled at some point.
Writer, currency trader, madman
  • #445,675
  • Nov 22, 2016 4:45am Nov 22, 2016 4:45am
Quoting jbmaverick
In response to the complaint that people fail to provide the rationale for their trades, here's my reason for accumulating long positions in Gbp/Usd from 1.2050 and higher: 1) I think the reaction to Brexit was massively overdone - the UK economy was stronger than almost all EU economies before it ever joined the EU, and it still is. It's not going to collapse as a result of Brexit. There's a greater likelihood of the EU collapsing. 2) 1.2000 is, historically, very, very low for Gbp/Usd. 3) Way too many downside gaps, on multiple time frames, waiting...
Now that is something useful. That's something intelligent. That's real good analysis!! Keep it on pal. Hear the stream of applause here for you.
  • #445,676
  • Nov 22, 2016 4:53am Nov 22, 2016 4:53am
Quoting yuddy
{quote} Now that is something useful. That's something intelligent. That's real good analysis!! Keep it on pal. Hear the stream of applause here for you.
Best hold the applause until I close out the trades with a profit.
Additionally, as far as entry points and stop placements, I watch the 10 and 50 EMAs on 15-minute, hourly, 4-hour, and daily charts, and also just support and resistance identified as areas where trading has been congested there before.
Writer, currency trader, madman
  • #445,677
  • Nov 22, 2016 6:07am Nov 22, 2016 6:07am
Quoting jbmaverick
{quote} Best hold the applause until I close out the trades with a profit. Additionally, as far as entry points and stop placements, I watch the 10 and 50 EMAs on 15-minute, hourly, 4-hour, and daily charts, and also just support and resistance identified as areas where trading has been congested there before.
Thats dope pal. You don't know how many people gat faith from your lines. Keep the intelligent analyses coming .you are el masetro. GU is always bearish on every high it goes. It's gonna return every pip it ran up in yday. The higher I see GU goes bears are just quickly setting up.
  • #445,678
  • Edited 8:21am Nov 22, 2016 7:31am | Edited 8:21am
After Gbp tanked on Brexit, i wrote a email to a friend of me who is a really good and calm trader.

As i wrote the email, Gbp/Usd was somewhere about 1.33 and i was in LONG mode
willing to risk 5000$, yeah yeah buy buy thats the Chance it will climb now and i will miss the train.

He wrote me a lot of stuff and the main point was WAIT !!!

And i waited.

3 Months later Gbp tanked again touching historical Lows, now from 1.30 to 1.20.
Another 1000 pips.

Wow who would expect that ?!? Me not. Now i know more.

My Point is:

Historical lows are there because they happened.
There is always a new chance for a new historical low.

In my opinion, the whole Brexit *$%! is not over atm
it is in the middle off, so who can really say that was it
and we will not see a another dump to 1.10 or so.

Not to trade is not a option, but to be 'sure'
that because the Cable tanked so much
it cant go lower anymore is exactly the trap that
they want us to believe and i try to avoid..


Of course it can go lower, it can go to 0.9 or lower. Why not ?
It can be that GB will see the Master of all recessions for the next 2-4 years.
GB is a island and the moment they try to isolate them self.
In the year 2016 of The Globalization. It will not work this way.

And if it works, imo, you have to put much more effort to achieve
the same that they already have/had.


Could write much more but thats my point.

Happy trading.

Toranaga.

Edit: Or it can go sideways from 1.20 to 1.30 for the next few years. See €/Chf

What would be a GIFT and i hope for.
How to opt out annoying user signatures ??
  • #445,679
  • Nov 22, 2016 7:42am Nov 22, 2016 7:42am
Quoting Derivative92
Does anyone have any scalping methods that they could direct me to? I only trade GU and I stack my trades, I'm confident in trading in the right direction but would prefer to know how to up my lot size on shorter time frame scalps in the direction of my stacked medium term trades. Cheers..

http://www.forexfactory.com/showthread.php?t=127271

It rocks !!

And you can learn so much. I started trading Forex with THV and i dont regret it.

Btw. Have fun reading 25k posts
How to opt out annoying user signatures ??
  • #445,680
  • Nov 22, 2016 7:50am Nov 22, 2016 7:50am
It all boils down to the agreement that the UK get with the EU.

I think we will be in the transition phase for years.

Any potential agreements that we do get will be tough. Mainly to prevent the other countries going down that route.
1,139 traders viewing now, 2 are registered:
Mikz
,
Zenitsu