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Cable Update (GBPUSD)

  • #447,261
  • Jan 15, 2017 7:58am Jan 15, 2017 7:58am
Quoting Ill-b-back
{quote} Hi Elbert, Not sure how you are reading 161.8 as 1.25. My top chart shows it as around 1.2680 or so. Your post suggest I am bullish aiming for 1.25. Why do you think this? What gave you that idea?
Hi sorry you miss read my post . I was only giving you compliment on your charts . Not that you where long or short . The 161 was only my guessing at what I could it see on your chart . Hope that's a bit clear lol regards E
  • #447,262
  • Jan 15, 2017 8:00am Jan 15, 2017 8:00am
Quoting MXT
{quote} there will be other flash crashes in the future we just got a mini flash crash ( rally ) on the euro recently
Will tell regards E
  • #447,263
  • Jan 15, 2017 8:10am Jan 15, 2017 8:10am
Quoting MXT
cable is too much news - politics - and brexit - driven these days there are gonna be many bumps ahead , but trend is still down - we may test the low 1.20ies quite soon again but it all depends on the brexit talks this week
I agree. I used to love trading cable but it's too dangerous now
  • #447,264
  • Jan 15, 2017 8:57am Jan 15, 2017 8:57am
The Sunday open should be fun, might also see a bounce following the actual speech.

Here's my chart and what I'm calling the This "Hard Brexit Panic Zone" between 1.2040 - 1.1900.

Attached Image (click to enlarge)
Click to Enlarge Name: GBP Hard Brexit May.png Size: 142 KB


Read my analysis on what to watch out for.
  • #447,265
  • Jan 15, 2017 10:58am Jan 15, 2017 10:58am
This Tuesday we'll get the next iteration of data for that previously bullish driver for Sterling. The Bank of England had discussed this at their most recent Super Thursday when they increased forward-looking inflation expectations and this had helped to firm price action in GBP until Hard Brexit fears took over again.

The signs are bullish, but we shall know more on wednesday.
The biggest risk is not taking a risk.
  • #447,266
  • Jan 15, 2017 12:09pm Jan 15, 2017 12:09pm
Quoting Marco-Kanto
{quote} XE have mid-market rates over the weekend.

Now trading @1.2010....
  • #447,267
  • Jan 15, 2017 12:25pm Jan 15, 2017 12:25pm
Quoting WillemFF
{quote} Now trading @1.2010....
https://www.bloomberg.com/quote/GBPUSD:CUR
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_20170115-235515.png Size: 255 KB
  • #447,268
  • Jan 15, 2017 1:26pm Jan 15, 2017 1:26pm
Quoting tiborf71
I expect low-rise gbp h4 (time) next week
Sorry but, hahaha, oh man...

So much for the bullishness. Why do people still want to call the bottom on this thing. This might reach parity sooner than the euro
  • #447,269
  • Jan 15, 2017 1:41pm Jan 15, 2017 1:41pm
Quoting elbert3
{quote} Hi sorry you miss read my post . I was only giving you compliment on your charts . Not that you where long or short . The 161 was only my guessing at what I could it see on your chart . Hope that's a bit clear lol regards E
No worries E. Just when you pointed out the 1.25 price area then said"which I can agree on", I thought you meant as a target.
have a good week mate.
Come with me if you want to live....
  • #447,270
  • Jan 15, 2017 1:54pm Jan 15, 2017 1:54pm
Quoting coldvinc
{quote} Sorry but, hahaha, oh man... So much for the bullishness. Why do people still want to call the bottom on this thing. This might reach parity sooner than the euro
parity wold be a bit of a stretch , but agree with you - trend is still down and it's way too early trying to call a bottom here

sure , there will be plenty of bounces to the upside , but imho they could count as good shorting opportunities
  • #447,271
  • Jan 15, 2017 3:06pm Jan 15, 2017 3:06pm
What do you guys do when waking up to a large gap profit - cash out despite terrible spreads, or wait until liquidity arrives but risk losing a lot of the profit?
  • #447,272
  • Jan 15, 2017 3:10pm Jan 15, 2017 3:10pm
What a kill!
90% of traders use TA, indicators and prediction
  • #447,273
  • Jan 15, 2017 3:21pm Jan 15, 2017 3:21pm
Well that took out my two longs but my hedge is making 5 times the loss ??? That's the biggest gap I have seen looking for a tp now and to go long again . Has the market just priced in the may Brit x ?? I hope you traders had sl on over the weekend
  • #447,274
  • Jan 15, 2017 3:23pm Jan 15, 2017 3:23pm
  •  jmmn
  • | Joined Nov 2015 | Status: Learning while making money... | 647 Posts
How do you hedge, elbert3?

Will you please write an example for the losing positions and for the winning one?

Thanks you very much!

Jos
  • #447,275
  • Jan 15, 2017 3:27pm Jan 15, 2017 3:27pm
Quoting jmmn
How do you hedge, elbert3? Will you please write an example for the losing positions and for the winning one? Thanks you very much! Jos
You hedge short or long against the opposite trade you have . I had 2 trades long 2090 and on Friday just before market close I sl on both at 2050 and my short hedge placed 10 pips order on the close
  • #447,276
  • Jan 15, 2017 3:31pm Jan 15, 2017 3:31pm
Has any body got a candle shape on the 5 min ?? If so can you post it . On my phone and not home to see the chart
  • #447,277
  • Jan 15, 2017 3:35pm Jan 15, 2017 3:35pm
Quoting Starcraftmaz
What do you guys do when waking up to a large gap profit - cash out despite terrible spreads, or wait until liquidity arrives but risk losing a lot of the profit?
If you ask 100 people if they would drive a 160kmh car straight into a wall, and they answer "yes" would you do the same?
90% of traders use TA, indicators and prediction
  • #447,278
  • Jan 15, 2017 3:41pm Jan 15, 2017 3:41pm
Quoting Starcraftmaz
What do you guys do when waking up to a large gap profit - cash out despite terrible spreads, or wait until liquidity arrives but risk losing a lot of the profit?
Depends on if you think that big gap hit your brick wall ie bottom ?? The thing is if one knows if if that was a bottom for now ? How big is ones balls and account to trade a big lot back to the gap close ??? Regards E
  • #447,279
  • Jan 15, 2017 3:44pm Jan 15, 2017 3:44pm
Attached Image (click to enlarge)
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  • #447,280
  • Jan 15, 2017 3:50pm Jan 15, 2017 3:50pm
I've just read the Pound crapped itself below 1.2.

Mays' my "man"?
Come with me if you want to live....
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