GBP/USD - Breakdown, Pullback, Bearish Confirmation | Forex Factory

GBP/USD - Breakdown, Pullback, Bearish Confirmation | Forex Factory

GBP/USD - Breakdown, Pullback, Bearish Confirmation

From fxtimes.com

Breakdown: The GBP/USD broke below a rising speedline and the 1.5324 pivot, setting up a price top situation that suggests at least some short-term bearish correction against the rally from July’s 1.4812 low. Pullback, confirmation: After the breakdown, there was a bullish swing that failed to push above the 1.5391 high and a subsequent swing down below the 7/24 low. This suggests the top has been established and the market has neutralized to sideways/bearish mode in the short-term. Moving averages, RSI: In the 1H chart, GBP/USD looks like it is turning bearish with price falling below the 100,55,21,8 period moving ... (full story)

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Jul 25, 2013 8:04pm

Quoting fxtimes

Disliked

I agree there is always uncertainty and no scenario is sure-fire. That's why I use words like "suggest" and "appear". Those softer and less predictive word choices should allow the reader to understand the outlook provided is a suggestion, not a certain prediction.

- Fan

Ignored

Spot on Fan, only an idiot would put you and your analysis in the same group as the bullshit and nearly always wrong trading ideas peddled by banks and media in this section of FF.
I would really like to know what these banks and
Journos are smoking because any "substance" that can produce such wild and distorted market hallucinations as to make them come up with such rediculous trading ideas is worth trying at least once.

Keep it up Fan, your a voice of reason here.

Jul 25, 2013 8:11pm

Quoting michaelpelly

Disliked

Fan - I have an idea - lets bet option between me and you for 100 dollars that cable will not even come under 1.5000 next 3 months?

I will send you my bet if you win over PayPal - but you will do the same :-)?!

Ignored

Lol....

There are but a few honest analysts in this place (Fan is one of them) amongst a crowd of nearly always wrong charlatans and you want to insult HIS credibility with a sad case bet??

Try picking a more suitable candidate.

"A bet between me and you"?

lol...,

Grow up dude.

Jul 25, 2013 8:40pm

Quoting Loadedgun

Disliked

Well Mr. Guest you got to ignore them around here. First one tells me and I have it on record that they can now "see my account" and now your friend to whom you are responding tells us openly here where I entered a trade yesterday and he is telling this today so he is saying so matter of fact and he is correct. So clearly they can see my screen.

You might wonder then what is going on - well really simple - they think they can get from me an approach I developed so they are ready to go to any length.

So do not worry about his lack of taste...

Ignored

How does he know??
Lol....,
He knows the same way as we all do, because you posted your entry level with stop loss and target in this very news thread.
lol.... Get off the hooch man, it's fooking with your memory.

Jul 25, 2013 9:32am

Hahaha, if I get one dollar for every such article where with pretty certainty the authors declare the trend direction and then suddenly in couple days boom - strong opposite motion, I would be a rich man! :-)

Jul 25, 2013 11:26am

I'm not against you, but your analysis - I pretty much deducted the same "picture" by myself.

But the whole concept of the article should be simplified to:

"The cable did not confirmed more bullish action this week, so either it will pause and consolidate for a while or it will completely reverse".

No need for so many nerdy-sounding words.

But said this way you are 50% right - so this kinda predictable analysis is just useless - can't you at least admit that I have a point?!

Jul 25, 2013 11:29am

Fan - I have an idea - lets bet option between me and you for 100 dollars that cable will not even come under 1.5000 next 3 months?

I will send you my bet if you win over PayPal - but you will do the same :-)?!

Jul 25, 2013 11:51am

Fan, don't be so defensive, mano :-). You really have a point - and it is not going less valid if someone challenges that!

Just pointing-out that the level of bearish certainty is a little bit hasty here.

P.S. I'm a lazy trader, not even good, but I make profits exactly because of that :-).

Jul 25, 2013 12:08pm

My humble, non-professional 50 cents.

I think if cable closes this week right under 1.5400, next week will be "red candle" somewhere to 1.5200, maybe 1.5150 and the week after will be "green" again trying to roll over 1.5400.

Jul 26, 2013 3:33am

Aside from fractals and secret trading societies - cable punctured some stop losses at US session. Still seems that bullish action lacks momentum. Maybe a small correction next week - nice dips at 1.5150 - 1.5200? :-)

Jul 25, 2013 5:21pm

Quoting Loadedgun

Disliked

BTW this is the last post from Loadedgun. Have fun! Nice One!

Ignored

LG, you can't leave! Where will I get my daily dose of dry FX wit and moron slapdown entertainment

Jul 26, 2013 1:13am

Quoting Loadedgun

Disliked

There is of course certainty with chaos so here we go for the Euro Entry: 1.32560 SL: 1.31655 TP: 1.34161 move stop to BE after 1 430 points. Margin of error in forecast 1/20 and you can take it to the bank and we can do this every time without fail. That is what I am doing with a small group of friends from FF (on FB closed circuit) - getting them to master chaos. A pity I shall never ever make the actual principles available to so many here due to no fault of mine but given house policies which appear to restrict and forbid the truth about trading.

...

Ignored

Loadedgun: I want to learn from you and specially want to be part of your closed circuit trading group... I have been following you from quite a while now and im impressed the way you have explained things and give information to this forex community... please take me as your student and I will be highly obliged. I hope you will consider and respond.

Jul 25, 2013 10:43am

Quoting ali awan

Disliked

no wrong article still gbp in good area and hold on it till monday because us data is negative and no gbp data is here for till next week

Ignored

Then stop asking if market goes up or down before you trade. Learn

Jul 25, 2013 12:11pm

Quoting Loadedgun

Disliked

There is of course certainty with chaos so here we go for the Euro Entry: 1.32560 SL: 1.31655 TP: 1.34161 move stop to BE after 1 430 points. Margin of error in forecast 1/20 and you can take it to the bank and we can do this every time without fail. That is what I am doing with a small group of friends from FF - getting them to master chaos. A pity I shall never ever make it available to so many here due to no fault of mine but given house policies which appear to restrict and forbid the truth about trading.

Nice One! order is good for...

Ignored

U referring to the yesterday high where you entered long and SL at today's low. Gosh that's a new chaos

Many noobs will be able to see that coming, need no chaos. I don't need chaos, I just need draggy or uncle ben - though they are not in your dictionary of chaos.

The chaos noise is back again - that means I ain't going to read comment posts until he get banned again.

Jul 25, 2013 12:13pm

Quoting michaelpelly

Disliked

It is just a hundred bucks, spreddy :-). Where is yours sense of the market uncertainty guys? :-) He pretty much seems alright, but a little challenge never hurts :-)

Ignored

Try that with that loaded guy

Jul 26, 2013 12:59am — Edited

Quoting Guest

Disliked

But this guy did not wait for draghi he seems so sure of the timing and may be you are a noob so you may not appreciate his edge - he said to enter now and it happened like he said. I know from experience which I am sorry you may not have though you can tell low and high the issue for most traders is which end is gonna be extended - he not only said which he said when and gave just 5% probability of being wrong. Plus if price hits his stated target that will be new (and notice his confidence and good advice - "move trailing stop to BE after 1400...

Ignored

Yes I am but just a noob. A noob who trades based on my indicators, DAILY. You have taken what I said completely out of context, try asking yourself behind you GUEST appearance (btw your sentence structuring is almost the same as the loaded guy). Who moves the market, it's buyers n sellers n who can swing it? Or is it based on chaos of Bill William (now reinvented and claimed by loadedchap - No way man on the latter!!

If the chaos prediction at .3256 is only 5% error why does the chap has a 100 pips SL and a 150 pips TP? The sum does not add up......

Anyway I have no grudge on anyone with any ideas n comments to trade but when one slams everybody else n believes his holy grail rules, that's sad. Just look at all the predictions this chaos guy made n how many did come true?

PLUS: NO one indicator is 100% all the time, I lose I win. But when one claims chaos theory is the only saviour for all, ie slamming the rest. Then good fooking luck.

Jul 25, 2013 11:46am

It is just a hundred bucks, spreddy :-). Where is yours sense of the market uncertainty guys? :-) He pretty much seems alright, but a little challenge never hurts :-)

Jul 28, 2013 10:42pm

Quoting michaelpelly

Disliked

Fan - I have an idea - lets bet option between me and you for 100 dollars that cable will not even come under 1.5000 next 3 months?

I will send you my bet if you win over PayPal - but you will do the same :-)?!

Ignored

hey michael i'm here to take ur challenge. Now GBP/USD is running 1.5400 thats mean spread to 1.5000 is 400 points. I will bet against your option, that GBP/USD will not hit 400 points higher in 3 months (1.5800). Thats the first case, the second case : there's no limit of time, if GBP/USD hit 1.5000 first u pay me, if hit 1.5800 first i pay you. Deal?

Jul 25, 2013 10:45am

Don't like the slowly cripping bull for EUR/USD at the mo. Does smells of something big reversal coming

Jul 25, 2013 9:43am

Quoting michaelpelly

Disliked

Hahaha, if I get one dollar for every such article where with pretty certainty the authors declare the trend direction and then suddenly in couple days boom - strong opposite motion, I would be a rich man! :-)

Ignored

I agree there is always uncertainty and no scenario is sure-fire. That's why I use words like "suggest" and "appear". Those softer and less predictive word choices should allow the reader to understand the outlook provided is a suggestion, not a certain prediction.

- Fan

Jul 25, 2013 10:28am

He's 'right' around fifty percent of the time at least he's man enough to admit it and that there's no certainty with tech analysis ;-)

Quoting Guest

Disliked

Fan, I highly appreciate your analysis. It makes me think, and I learn from you many things. I find your analysis and predictions more accurate than I am able to do . Thank you and keep writing!

Ignored

Jul 25, 2013 11:40am

Stfu, he's alright, no airs or graces, just trying to make his site work. There's a lot, lot worse analysis out there. ;-)

Quoting michaelpelly

Disliked

Fan - I have an idea - lets bet option between me and you for 100 dollars that cable will not even come under 1.5000 next 3 months?

I will send you my bet if you win over PayPal - but you will do the same :-)?!

Ignored

Jul 25, 2013 11:46am

Look Michaelpelly, I am sure you have good sense of the market, maybe even a good trader.

I provide a free service in explaining how I go about breaking down the chart to give a suggestion. Nothing more than that.

I have nothing to prove to you, and I am not going to continue this conversation because it's not going to go anywhere.

But you said what I do is "useless" - and that makes me want to defend myself. I just hope there are those who can find value in my breakdown, but I understand there are some "advanced" analysts/traders who don't need my insight.

So fine, its useless to you, good for you.

- Fan

Jul 25, 2013 12:00pm

There is of course certainty with chaos so here we go for the Euro Entry: 1.32560 SL: 1.31655 TP: 1.34161 move stop to BE after 1 430 points. Margin of error in forecast 1/20 and you can take it to the bank and we can do this every time without fail. That is what I am doing with a small group of friends from FF (on FB closed circuit) - getting them to master chaos. A pity I shall never ever make the actual principles available to so many here due to no fault of mine but given house policies which appear to restrict and forbid the truth about trading.

Nice One! order is good for entry NOW and you can take it to the bank

Jul 25, 2013 12:03pm

Do discount idiots and ignoramuses that come with gambling type probabilities - in chaos you do not gamble - you map and track price based on chaos theory and fractal geometry. Our group is of course restricted. Say no to ignorance learn about chaos for yourself - I am self taught.

Jul 25, 2013 2:36pm

I'm as bad as it comes where the tech analysts are concerned, but to be fair he writes his stuff as a hobby and probably gets a few quid through ads. He's up front and not a charlatan peddling some chaotic shite for shillings to gullible new traders.

Quoting michaelpelly

Disliked

It is just a hundred bucks, spreddy :-). Where is yours sense of the market uncertainty guys? :-) He pretty much seems alright, but a little challenge never hurts :-)

Ignored

Jul 25, 2013 4:56pm

Quoting Guest

Disliked

But this guy did not wait for draghi he seems so sure of the timing and may be you are a noob so you may not appreciate his edge - he said to enter now and it happened like he said.

Ignored

Well Mr. Guest you got to ignore them around here. First one tells me and I have it on record that they can now "see my account" and now your friend to whom you are responding tells us openly here where I entered a trade yesterday and he is telling this today so he is saying so matter of fact and he is correct. So clearly they can see my screen.

You might wonder then what is going on - well really simple - they think they can get from me an approach I developed so they are ready to go to any length.

So do not worry about his lack of taste - he is a third world fraud in my book someone given to making claims too outrageous to contemplate. But mark the contradiction here - he knows when and where I placed an order yesterday because he is part of the crew tracking me electronically (else how does he know) and yet he is out here trying to discredit me. Ask yourself who is fooling who?

Jul 25, 2013 5:04pm

Fascinating, could you share more on your thoughts as to how the FX markets are rigged? Tia. :-)

Quoting Guest

Disliked

most (not all) of you commentators are a bunch of twots who donno what trading is all about. if you have traded for more than 5 years for a living then we are on the same plane. you must fully understand the technicals, the fundamentals, macro-economics, and social mood in different countries. that's for starters. then you must understand how and when markets can be rigged, how market makers operate, how brokers and platform operators make money, all that crap.

then most importantly: markets don't move, markets get moved.

and never think that...

Ignored

Jul 26, 2013 1:49am

Quoting Loadedgun

Disliked

There is of course certainty with chaos so here we go for the Euro Entry: 1.32560 SL: 1.31655 TP: 1.34161 move stop to BE after 1 430 points. Margin of error in forecast 1/20 and you can take it to the bank and we can do this every time without fail. That is what I am doing with a small group of friends from FF (on FB closed circuit) - getting them to master chaos. A pity I shall never ever make the actual principles available to so many here due to no fault of mine but given house policies which appear to restrict and forbid the truth about trading.

...

Ignored

May i join to your small trading group Sir Loadedgun...
I am want to learn from you.

Jul 26, 2013 3:52am

Stop it with the astro turfing you sad sock puppet. He's a clueless charlatan trying to fleece new traders of a few quid each month. All he needs is ten 'customers' paying him $20 a month through Paypal to live well in his Nigerain village. Many experienced traders have continually called him out over his pathetic attempts to ensnare victims and his answer has been to troll and fill his responses full of invective and childish smilies. Ask yourself, is that the behaviour of a skilled mentor? Let him and his nonsense go, this section is unrecognisable without his presence.

Quoting brat prince

Disliked

Loadedgun: I want to learn from you and specially want to be part of your closed circuit trading group... I have been following you from quite a while now and im impressed the way you have explained things and give information to this forex community... please take me as your student and I will be highly obliged. I hope you will consider and respond.

Ignored

Jul 25, 2013 9:57am

no wrong article still gbp in good area and hold on it till monday because us data is negative and no gbp data is here for till next week

Trader#E5D5

Jul 25, 2013 2:33pm

most (not all) of you commentators are a bunch of twots who donno what trading is all about. if you have traded for more than 5 years for a living then we are on the same plane. you must fully understand the technicals, the fundamentals, macro-economics, and social mood in different countries. that's for starters. then you must understand how and when markets can be rigged, how market makers operate, how brokers and platform operators make money, all that crap.

then most importantly: markets don't move, markets get moved.

and never think that you are cleverer than the market, that is when the market will humble you. put all of the above together and go with your gut, otherwise you won't cut it as a trader. luck also counts, but you make your own luck.

Trader#2ADC

Jul 25, 2013 3:05pm

Quoting jonathanhk

Disliked

U referring to the yesterday high where you entered long and SL at today's low. Gosh that's a new chaos

Many noobs will be able to see that coming, need no chaos. I don't need chaos, I just need draggy or uncle ben - though they are not in your dictionary of chaos.

The chaos noise is back again - that means I ain't going to read comment posts until he get banned again.

Ignored

But this guy did not wait for draghi he seems so sure of the timing and may be you are a noob so you may not appreciate his edge - he said to enter now and it happened like he said. I know from experience which I am sorry you may not have though you can tell low and high the issue for most traders is which end is gonna be extended - he not only said which he said when and gave just 5% probability of being wrong. Plus if price hits his stated target that will be new (and notice his confidence and good advice - "move trailing stop to BE after 1400 points). I saw your other comment seems to me unlike the poster you are insulting you are on the sidelines - so you scared which means you not sure and still waiting for draghi or may be Obama to give you a clue - am I right?

Jul 25, 2013 5:04pm

BTW this is the last post from Loadedgun. Have fun!

Nice One!

Jul 25, 2013 5:28pm

Followup on the GBP/USD as it makes a new high on the week
http://www.forexfactory.com/news.php?do=news&id=439386

Jul 26, 2013 1:44am

Quoting Loadedgun

Disliked

BTW this is the last post from Loadedgun. Have fun! Nice One!

Ignored

No....no.... Please... don't leave this forum

Trader#B1B6

Jul 25, 2013 10:18am

Fan, I highly appreciate your analysis. It makes me think, and I learn from you many things. I find your analysis and predictions more accurate than I am able to do

. Thank you and keep writing!

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Jul 25, 2013 9:03am
Posted by
fxtimes

Technical Analysis

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