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Cable Update (GBPUSD)

  • #447,441
  • Jan 18, 2017 3:52pm Jan 18, 2017 3:52pm
Quoting csc2009
Yesterday's gain seems short-lived, the Pound has pulled back and risk remain towards the downside, next resistance level can be found at 1.2200/2190 zone. Uncertainty is still high, many unknown still ahead of us.
Csc2009, the thing is, nothing will happen until the cable touches that 50% Fib level, located at 1.2220.

Quoting csc2009
"Uncertainty is still high, many unknown still ahead of us."
Without uncertainty there is no market, Forex or otherwise.
  • #447,442
  • Jan 18, 2017 4:26pm Jan 18, 2017 4:26pm
Bought GBP/AUD at 1.6320, 40 pip stop.
Let's go.
  • #447,443
  • Jan 18, 2017 5:10pm Jan 18, 2017 5:10pm
GBP/AUD is temporarily stuck in an ascending channel (see chart below):
Attached Image (click to enlarge)
Click to Enlarge Name: gbp_aud_channel.png Size: 213 KB
  • #447,444
  • Jan 18, 2017 5:48pm Jan 18, 2017 5:48pm
Bought more GBP/AUD at 1.6336 (I like to play with the house's money).
  • #447,445
  • Jan 18, 2017 6:11pm Jan 18, 2017 6:11pm
Buying more GBP/AUD at 1.6336.

Asian market makers are trying to shake us out of that ascending (bullish) channel...
  • #447,446
  • Jan 18, 2017 7:07pm Jan 18, 2017 7:07pm
The GBPUSD pulls back during possible profit taking. Therfore, the pair may try to go back up, maybe breaking above the 1.2372 level, where the 55 day EMA is at the moment.
  • #447,447
  • Edited 8:35pm Jan 18, 2017 8:11pm | Edited 8:35pm
Out at 1.6320 on that long GBP/AUD position, waiting for possible long re-entry.
32 pip loss (break-even on first trade and then 16 + 16 pip loss)
Total this day: 68 pip profit.

Never argue with the market, trade what is happening, not what you think should happen.
  • #447,448
  • Jan 18, 2017 9:56pm Jan 18, 2017 9:56pm
Short GBP/AUD at 1.6325, 25 pip stop.
  • #447,449
  • Jan 18, 2017 10:24pm Jan 18, 2017 10:24pm
Quoting Mr Breakout
British Pound traders looking for even more volatility and price action should perhaps concentrate on the GBP/CAD and the GBP/AUD tomorrow (January 18). With the very important Bank of Canada Rate Decision report due at 10 AM EST and the Australian Employment numbers (7:30 PM EST), these two pairs should move a great deal.
The winning "horse" was of course the GBP/CAD, it moved more than 200 pips with virtually no pullback, after the Bank of Canada report at 10 AM.
Oh well.
  • #447,450
  • Jan 18, 2017 10:29pm Jan 18, 2017 10:29pm
Inserted Video
  • #447,451
  • Jan 18, 2017 10:48pm Jan 18, 2017 10:48pm
+25 pips, stop has been moved to break-even.
  • #447,452
  • Jan 18, 2017 11:26pm Jan 18, 2017 11:26pm
I have the flu and fever so I cannot baby-sit that GBP/AUD trade, but before I leave let me show you that phony breakout on the GBP/USD.
Like I said before, the cable is notoriously known for its disrespect for trendlines.

Over and out.
Attached Image (click to enlarge)
Click to Enlarge Name: fake_breakout.png Size: 228 KB
  • #447,453
  • Jan 18, 2017 11:37pm Jan 18, 2017 11:37pm
17/01/19 THURSDAY 08:28+1GMT
EARLY MORNING REPORT
Ubi maior minor cessat
  • #447,454
  • Jan 19, 2017 12:22am Jan 19, 2017 12:22am
Hoping to see nice up move on cable today to take out Tuesdays high, if it goes back below 1.2265 though would be bad news and 1.2220 is a certainty and maybe lower but i think pound has bottomed and its onward's and upwards.
Loser trying to become a winner!
  • #447,455
  • Jan 19, 2017 12:30am Jan 19, 2017 12:30am
goddammit this is the fcking third time my Pound stop at +10 pips got hit after getting as high as +50 pips!
  • #447,456
  • Jan 19, 2017 1:05am Jan 19, 2017 1:05am
Been in this long since 4 am this morning . On 4 hour doji and confirm . Who said doji don't work ? Outing safe haven in place until we get any type of look if shorts might take place
  • #447,457
  • Jan 19, 2017 1:07am Jan 19, 2017 1:07am
2348 looks to be a target 2300 in place and will move when possible GL
  • #447,458
  • Edited 2:34am Jan 19, 2017 2:12am | Edited 2:34am
Quoting elbert3
2348 looks to be a target 2300 in place and will move when possible GL
The recent rally in Cable should find strong resistance in the 1.2414/53, although the door still stays open for a test of 1.2480 in th comming days. The pair rallied most in a day since 1993 and lost some gains and now stance is lokin neutral!!!!! GL
  • #447,459
  • Jan 19, 2017 2:34am Jan 19, 2017 2:34am
Quoting dean1star
{quote} nice stats .. nice one

Thanks
  • #447,460
  • Jan 19, 2017 4:49am Jan 19, 2017 4:49am
Quoting bithedz
{quote} Thanks
No worries but when you see good stats it says alot esp around here if you know what i mean ..
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