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Cable Update (GBPUSD)

  • #452,921
  • Jun 6, 2017 3:20am Jun 6, 2017 3:20am
Quoting petehnm
{quote} considering a long here at1.2910 to hold till 1.29.70-90 any thought?
Short term looking at a short now to 128 400 - but long term i have an up trend which might take this short down about 80 - 100 pips in next 24 hours to re - load long again - thats my take anyways .. i see stength more in the longer trend still north but that does not mean they wont short today into tomorrow potentially that is ..someone was mentioning about taking the highs out today around here but thats just loose talk cheap change kinda stuff as its so easy to say .. (my bias is long btw)
  • #452,922
  • Edited Jun 7, 2017 1:57am Jun 6, 2017 4:52am | Edited Jun 7, 2017 1:57am
Quoting petehnm
{quote} considering a long here at1.2910 to hold till 1.29.70-90 any thought?
I'm long from last week, closed out first one around 2920.
I think 2866 confluence area would be a spot to watch for going long for good risk/reward.

Since I have a tech target around 3075 area and we rejected the 2770 area support last week, it won't surprise me to see an election day spike through the 3047 high AKA Brexit style.

Just some thoughts...
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDH1.png Size: 34 KB
Come with me if you want to live....
  • #452,923
  • Jun 6, 2017 5:28am Jun 6, 2017 5:28am
Quoting Ill-b-back
{quote} I'm long from last week, closed out first one around 2920. I think 2866 confluence area would be a spot to watch for going long for good risk/reward. Since I have a tech target around 3175 area and we rejected the 2770 area support last week, it won't surprise me to see an election day spike through the 3047 high AKA Brexit style. Just some thoughts... {image}
thank you for the thoughts definitely something to consider...I think I'm going to give it a go with a long from here don't see any reason for it to drop drastically till the elections on Thursday...but it is forex and anything can and will happen...lol
  • #452,924
  • Jun 6, 2017 6:54am Jun 6, 2017 6:54am
I can understand the sentiment for going long but if it does break around 1.2770, there's a strong possibility that it could go further down to 1.2600. We will see what today and tomorrow brings.

I usually like to trade on technicals but with the up coming election, they need to be a consideration with any trade. The 200 SMA suggests the the pound may be in a turnaround. They are usually always messy. I'm hoping for a 1.2700 and if it hits the 50% retrace I'm at a take profit at 1.2600.
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Taigen Profit This Month: na
  • #452,925
  • Jun 6, 2017 8:01am Jun 6, 2017 8:01am
Quoting petehnm
{quote} thank you for the thoughts definitely something to consider...I think I'm going to give it a go with a long from here don't see any reason for it to drop drastically till the elections on Thursday...but it is forex and anything can and will happen...lol
ain't that the truth lol...

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDH1.png Size: 34 KB
Come with me if you want to live....
  • #452,926
  • Jun 6, 2017 9:17am Jun 6, 2017 9:17am
good morning everyone!....so I fell asleep last night and I was going to go long I think it was around the 1.2920 area ..guess falling asleep is a good method for not making bad trades, lol..looking at the higher time frames 4hr, and daily you would think that a long here at 1.2885 would be a good Idea..unfortunately the pound doesn't seem to agree with me cause it keeps going down and if I go short I know it'll go long...lol...any thoughts?
  • #452,927
  • Jun 6, 2017 10:21am Jun 6, 2017 10:21am
Quoting petehnm
good morning everyone!....so I fell asleep last night and I was going to go long I think it was around the 1.2920 area ..guess falling asleep is a good method for not making bad trades, lol..looking at the higher time frames 4hr, and daily you would think that a long here at 1.2885 would be a good Idea..unfortunately the pound doesn't seem to agree with me cause it keeps going down and if I go short I know it'll go long...lol...any thoughts?
i wouldn't trade this pair until next week once the UK elections are over

but i think in the short term this week, it might fall to 1.26 and the other GBP crosses will also be more bearish
Don't Worry Be Happy
  • #452,928
  • Jun 6, 2017 10:27am Jun 6, 2017 10:27am
Quoting MrPresident
{quote} i wouldn't trade this pair until next week once the UK elections are over but i think in the short term this week, it might fall to 1.26 and the other GBP crosses will also be more bearish
Good to know ..thank you MrPresident...
  • #452,929
  • Jun 6, 2017 11:20am Jun 6, 2017 11:20am
I also use the Heikin-Ashi candles that seem to smooth out the chaos of trending pairs which shows for the most part a positive trend since March 16th, 2017. The Heikin-Ashi shows the battle the price is having.at the bid/ask level. The dotted green lines are my positions so you kind of know which way I want it to go.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDFXFDaily.png Size: 66 KB
Taigen Profit This Month: na
  • #452,930
  • Jun 6, 2017 3:05pm Jun 6, 2017 3:05pm
look who just decided to come back up...now the question... will cable continue tp 1.2930..1.2950..then all the way to 1.30...???
  • #452,931
  • Jun 6, 2017 3:09pm Jun 6, 2017 3:09pm
Quoting petehnm
look who just decided to come back up...now the question... will cable continue tp 1.2930..1.2950..then all the way to 1.30...???
LOL !!! I'm long from Monday !!! just before manual close my trades !!!
UK parade again I think !!

I'm going to keep my trade through 1.30
  • #452,932
  • Jun 6, 2017 3:43pm Jun 6, 2017 3:43pm
Quoting Mattse
{quote} LOL !!! I'm long from Monday !!! just before manual close my trades !!! UK parade again I think !! I'm going to keep my trade through 1.30
Think we'll get there(1.30) before the election?
  • #452,933
  • Jun 6, 2017 3:46pm Jun 6, 2017 3:46pm
i am short from last week ...
waiting for 1.2760
Lost in Narrative
  • #452,934
  • Jun 7, 2017 12:53am Jun 7, 2017 12:53am
Inserted Video
  • #452,935
  • Jun 7, 2017 1:12am Jun 7, 2017 1:12am
Quoting petehnm
look who just decided to come back up...now the question... will cable continue tp 1.2930..1.2950..then all the way to 1.30...???
Really i cant believe that after trading for what since 2009 says on your name thats aka 8 years your still shouting out n asking this kinda newbie stuff over and over - maybe its just me - usually is but whatever i dont get what i see on your name
  • #452,936
  • Edited 1:31am Jun 7, 2017 1:17am | Edited 1:31am
Quoting dean1star
{quote} Really i cant believe that after trading for what since 2009 says on your name thats aka 8 years your still shouting out n asking this kinda newbie stuff over and over - maybe its just me - usually is but whatever i dont get what i see on your name
don't look into it that much brother just making conversation...I trade by my own rules and rarely take advice.
  • #452,937
  • Jun 7, 2017 1:33am Jun 7, 2017 1:33am
Offer: bargain buy above 1.2875 with the first tp tick tick 1.294 and 1.2965 second tp
if you my trade,My-post analysis, subscribed to ME
  • #452,938
  • Jun 7, 2017 2:39am Jun 7, 2017 2:39am
Risk 0.75% per trade.
Trades may only be entered between 8am and 5pm London time today.
Long Trade 1

  1. Go long following a bullish price action reversal on the H1 time frame immediately upon the next touch of 1.2831.
  2. Place the stop loss 1 pip below the local swing low.
  3. Adjust the stop loss to break even once the trade is 25 pips in profit.
  4. Remove 50% of the position as profit when the price reaches 25 pips in profit and leave the remainder of the position to run.

Short Trade 1

  1. Go short following a bearish price action reversal on the H1 time frame immediately upon the next touch of 1.2928.
  2. Place the stop loss 1 pip above the local swing high.
  3. Adjust the stop loss to break even once the trade is 25 pips in profit.
  4. Remove 50% of the position as profit when the price reaches 25 pips in profit and leave the remainder of the position to run.

if you my trade,My-post analysis, subscribed to ME
  • #452,939
  • Jun 7, 2017 3:19am Jun 7, 2017 3:19am
Quoting petehnm
{quote} Think we'll get there(1.30) before the election?
Tight stoploss!!
I going to be out before election for sure !!
  • #452,940
  • Jun 7, 2017 3:25am Jun 7, 2017 3:25am
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