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Cable Update (GBPUSD)

  • #448,061
  • Jan 26, 2017 11:01am Jan 26, 2017 11:01am
Quoting Bones
it actually looks like this on h1 price hasn't touched it at all {quote} {image}
Ah yes I see, I would favour a break.south looking at that, but with tomorrow visit to us and talk of a prime trade deal for UK, I'm not going to play it... I closed my short out and I probably won't trade gu again for a while
  • #448,062
  • Jan 26, 2017 11:09am Jan 26, 2017 11:09am
Quoting Don96
{quote} Ah yes I see, I would favour a break.south looking at that, but with tomorrow visit to us and talk of a prime trade deal for UK, I'm not going to play it... I closed my short out and I probably won't trade gu again for a while
Good points.

What pairs are you going to focus your attention on, instead?
  • #448,063
  • Jan 26, 2017 11:09am Jan 26, 2017 11:09am
Quoting Luzbay
{quote} Good points. What pairs are you going to focus your attention on, instead?
EU AU NU u cad and UJ
  • #448,064
  • Jan 26, 2017 11:21am Jan 26, 2017 11:21am
EU is in an interesting position at the moment.

D1, H4 and H1 look bullish and with the recent rejection of 1.06540, this would support a long position.

What are your thoughts? Also, out of personal interest, do you run many indicators, use clean charts (maybe a few S/R levels), or a combination?
  • #448,065
  • Jan 26, 2017 11:25am Jan 26, 2017 11:25am
Quoting Luzbay
EU is in an interesting position at the moment. D1, H4 and H1 look bullish and with the recent rejection of 1.06540, this would support a long position. What are your thoughts? Also, out of personal interest, do you run many indicators, use clean charts (maybe a few S/R levels), or a combination?
I have a long on EU 1.0660 - im still up for a bigger drop. H4 yes can be seen as slightly bullish maybe on that last candle - not sure about daily being bullish? H1 supported longs - it's already risen 45 from the low today. And I just trade what I see with pa and use fibs - sometimes Macd
  • #448,066
  • Jan 26, 2017 11:45am Jan 26, 2017 11:45am
with a bearish eur gbp weekly that wont change as I type ?

Quoting Don96
{quote} I have a long on EU 1.0660 - im still up for a bigger drop. H4 yes can be seen as slightly bullish maybe on that last candle - not sure about daily being bullish? H1 supported longs - it's already risen 45 from the low today. And I just trade what I see with pa and use fibs - sometimes Macd
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #448,067
  • Jan 26, 2017 12:21pm Jan 26, 2017 12:21pm
Quoting Don96
{quote} I have a long on EU 1.0660 - im still up for a bigger drop. H4 yes can be seen as slightly bullish maybe on that last candle - not sure about daily being bullish? H1 supported longs - it's already risen 45 from the low today. And I just trade what I see with pa and use fibs - sometimes Macd
My interpretation of the D1 candle (interpretation being the key word, I guess) is bullish because it still supports positive price action in that there are no bearish divergences (usually my achillies heel; I love a divergence trade - to my detriment in more cases than I care to remember!) in the RSI and the 50 day moving average also supports positive price movement - for now.
  • #448,068
  • Jan 26, 2017 1:18pm Jan 26, 2017 1:18pm
we're still trading in within this trading range

let's see tomorrow the T-M Factor
  • #448,069
  • Jan 26, 2017 1:35pm Jan 26, 2017 1:35pm
Quoting Mr Breakout
Short GBP/JPY at 143.80, 30 pip stop.
Minus 30 pips.
No problem, I will make you pay later GBP/JPY.
Plus 100% interest.
  • #448,070
  • Jan 26, 2017 1:42pm Jan 26, 2017 1:42pm
Quoting Mr Breakout
{quote} Minus 30 pips. No problem, I will make you pay later GBP/JPY. Plus 100% interest.
how was your gbpnzd trading today ?

the market was indeed still long and it still is
  • #448,071
  • Jan 26, 2017 1:55pm Jan 26, 2017 1:55pm
Quoting MXT
{quote} how was your gbpnzd trading today ? the market was indeed still long and it still is
No I did not touch GBP/NZD, it was totally untradable today.

I mean seriously, who can trade this crap?
Attached Image (click to enlarge)
Click to Enlarge Name: gbpnzd5min.png Size: 172 KB
  • #448,072
  • Jan 26, 2017 2:07pm Jan 26, 2017 2:07pm
Quoting Mr Breakout
{quote} No I did not touch GBP/NZD, it was totally untradable today. I mean seriously, who can trade this crap? {image}
yep - i did not trade it either

i just traded euro and am still short euro
  • #448,073
  • Jan 26, 2017 2:07pm Jan 26, 2017 2:07pm
Japanese CPI in less than 90 minutes, GBP/JPY could go higher than 114.50.
  • #448,074
  • Jan 26, 2017 2:08pm Jan 26, 2017 2:08pm
Quoting Mr Breakout
Japanese CPI in less than 90 minutes, GBP/JPY could go higher than 114.50.
doubt its going to move jpy too much
  • #448,075
  • Jan 26, 2017 2:12pm Jan 26, 2017 2:12pm
Quoting Don96
{quote} doubt its going to move jpy too much
Sure, but I never take anything for granted, this is why it is best to be prepared for ANY possible scenario and counter-scenario.
In trading, never sleep at the wheel and assume nothing will happen.
  • #448,076
  • Jan 26, 2017 2:58pm Jan 26, 2017 2:58pm
Quoting Don96
{quote} EU AU NU u cad and UJ
Following on from this, I'm also leaving GBPUSD alone for a while, until the picture becomes clearer.

I like USDJPY (long), too - but risk/reward looks iffy to me at the moment.

I have opened a short position on EURUSD --

Entry @ 1.06791 (I know...right above the current resistance)
Stop loss @ 1.07226 (43.5 pips)
Target @ 1.05941 (85 pips)

Depending on if/how it gets to my target, I'll consider moving the TP. More on that nearer the time (hopefully!).

Let's see how this one plays out.
  • #448,077
  • Jan 26, 2017 3:10pm Jan 26, 2017 3:10pm
Up down up down but did not really move much ? Traders getting out of longs . Or shorts 4 hour is mixed up doji doji heads short tails long ! That's about how it goes . Lie img in bed with the wife ????? She is lie iing to me and I am lie ing to her . Good night x
  • #448,078
  • Jan 26, 2017 3:16pm Jan 26, 2017 3:16pm
Quoting elbert3
Up down up down but did not really move much ? Traders getting out of longs . Or shorts 4 hour is mixed up doji doji heads short tails long ! That's about how it goes . Lie img in bed with the wife ????? She is lie iing to me and I am lie ing to her . Good night x
You alright, Elbert3 ?
  • #448,079
  • Jan 26, 2017 3:22pm Jan 26, 2017 3:22pm
Rectangle on the GBP/JPY (5min).

Breakout coming up...
Attached Image (click to enlarge)
Click to Enlarge Name: rectangle.png Size: 185 KB
  • #448,080
  • Jan 26, 2017 3:29pm Jan 26, 2017 3:29pm
Bought GBP/JPY 144.30, 40 pip stop.
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