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Thread: Discuss GBP/USD - H2 2012

  1. #3331
    Alejandro Zambrano's Avatar
    Alejandro Zambrano is offline DailyFX Analyst and Forum Moderator
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    Quote Originally Posted by Gregory McLeod View Post
    Bank of England Names Mark Carney, Bank of Canada Governor as New BOE Governor- First time in 60 years. Mark Carney was tapped for the position because of how well Canadian banks were able to weather the financial crisis. This could be bullish for GBPUSD.
    More on http://en.wikipedia.org/wiki/Mark_Carney
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  2. #3332
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    Quote Originally Posted by raisinghope View Post
    Well. I am holding on my shorts for the foll reasons. 1. Cable is making lower highs and lower lows both in 4hr and daily charts. 2. 1.60540 is the .615 Fib retracement of the fall from 1.6175 to 1.5825. Everyrtime it retraces this level the immediate fall is greater. 3. Very importantly I am still a learner so making mistakes very often and not good at hedging. Please guide me reg

    where I am making mistakes.
    Whats you profit target and stop loss level? and how much money are you betting on this trade?
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  3. #3333
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    pulled before the recent drop scaled about 30 pips today including one trade where i hedged up too far and went down by 3pips.. good day on the whole GL to you all!

    might trade short for a 15 pip scalp if i get home in time

  4. #3334
    raisinghope is offline Member
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    Quote Originally Posted by Alejandro Zambrano View Post
    Whats you profit target and stop loss level? and how much money are you betting on this trade?
    I usually trade only 10k lot. And trade on 4 .hr chart. Holding about 12 10k lots in cable all ranging from 1.63000 to 1.59750. Some positions below that upto 59000 were stopped out.
    Limit is minimum 57000. Stop for all the positions is 60700. If stopped out then thinking of going long from 60800.

  5. #3335
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    Quote Originally Posted by raisinghope View Post
    Well. I am holding on my shorts for the foll reasons. 1. Cable is making lower highs and lower lows both in 4hr and daily charts. 2. 1.60540 is the .615 Fib retracement of the fall from 1.6175 to 1.5825. Everyrtime it retraces this level the immediate fall is greater. 3. Very importantly I am still a learner so making mistakes very often and not good at hedging. Please guide me reg

    where I am making mistakes.
    Quote Originally Posted by fazi View Post
    ITD9 is due on tuesday - so monday/tuesday low is a great buy

    edit: inv H&S with RS c.a. 1.5950 ??
    Hi mate, I was thinking we could get a decent drop from 1.63, but time(and price) structure suggests that at least medium term bottom is in. IMO cable should top out arround a new moon and then go down till end of the quarter. I`m not sure if 1.63 gets broken by mid december (confirming long term bottom), then we`ll see. so - timewise a new highs are more probable than a new bottom

    Patryk

  6. #3336
    Alejandro Zambrano's Avatar
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    London session review and outlook November 26 - 2012

    Review of markets covered in today's edition of Bulls vs. Bears: EUR/USD, GBP/USD, AUD/USD, FTSE100, S&P500, Gold, Brent Crude and WTI.



    Regards

    Alejandro Zambrano
    Currency Strategist | DailyFX Forum (London)
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  7. #3337
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    Quote Originally Posted by raisinghope View Post
    I usually trade only 10k lot. And trade on 4 .hr chart. Holding about 12 10k lots in cable all ranging from 1.63000 to 1.59750. Some positions below that upto 59000 were stopped out.
    Limit is minimum 57000. Stop for all the positions is 60700. If stopped out then thinking of going long from 60800.
    Ok - I understand - I thought you were just trading short term.

    In the short term I am bearish and think we can reach the 1.5950 area but I would not trade this as the overall trend is bullish. If we trade above the 1.6050 area then we can reach 1.6150 - but going long on a break of 1.6150 is probably not the best option - rather buying on a dip - thats my preferred setup. In the long run I think we can reach 1.6150.

    The risk in my regard depends on the money you have on your account. Say that I would be short then if we reach 1.6060 (break out) then I would make sure that the loss would not be larger than 1% of my available equity.

    you need to keep money for your traders that develop as you expect and reduce the risk on the trades that do not do what you expect (i.e. when you lose)
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  8. #3338
    raisinghope is offline Member
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    Quote Originally Posted by Alejandro Zambrano View Post
    Ok - I understand - I thought you were just trading short term.

    In the short term I am bearish and think we can reach the 1.5950 area but I would not trade this as the overall trend is bullish. If we trade above the 1.6050 area then we can reach 1.6150 - but going long on a break of 1.6150 is probably not the best option - rather buying on a dip - thats my preferred setup. In the long run I think we can reach 1.6150.

    The risk in my regard depends on the money you have on your account. Say that I would be short then if we reach 1.6060 (break out) then I would make sure that the loss would not be larger than 1% of my available equity.

    you need to keep money for your traders that develop as you expect and reduce the risk on the trades that do not do what you expect (i.e. when you lose)


    started understanding somewhat. thanks a lot . will step out of all my short if it reaches 1.5960- 5950 level. then will decide the entry point for my long or short depending on the situation.

  9. #3339
    raisinghope is offline Member
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    Quote Originally Posted by fazi View Post
    Hi mate, I was thinking we could get a decent drop from 1.63, but time(and price) structure suggests that at least medium term bottom is in. IMO cable should top out arround a new moon and then go down till end of the quarter. I`m not sure if 1.63 gets broken by mid december (confirming long term bottom), then we`ll see. so - timewise a new highs are more probable than a new bottom

    Patryk

    thanks Patryk. will work out something today. really i appreciate your reply. thanks a lot

  10. #3340
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    Greek deal hasn't boosted the gbp too much. Seems to be very much in yesterday's price range. Have gone long again will scalp if it starts to get bogged down

  11. #3341
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    Bulls vs. Bears: The Spread Betting Morning Update November 27 - 2012

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    GBPUSD
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  12. #3342
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    Hmmm not looking to busy today. Starting to have doubts that gbp will go back to earlier highs 16050 range... I think I should have scalped at 16035

  13. #3343
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    Alert****8:30 ET US Economic News Releases Coming Up

    8:30am USD Core Durable Goods Orders m/m are expected to fall from -0.7% from 2.0%

    8:30am USD Durable Goods Orders m/m excluding transportation (Oct) is expected to fall to -0.5% from 9.8%.

    Hurricane Sandy impacting the numbers could see dollar rally continue as weaker US economic numbers could see flight to safety trade and risk aversion

    Ben Bernanke speaking as well. Be careful!
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  14. #3344
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    Quote Originally Posted by sratansi View Post
    Greek deal hasn't boosted the gbp too much. Seems to be very much in yesterday's price range. Have gone long again will scalp if it starts to get bogged down
    Still long? The breakout should take us to 1.6075 (close to R2).
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  15. #3345
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    I did a short in the morning which worked well then a long which again I scalped now a quick short to around 16030 before a long to 16070

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