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Cable Update (GBPUSD)

  • #307,841
  • Apr 12, 2012 6:38pm Apr 12, 2012 6:38pm
Beijing earlier this year lowered its annual growth target to 7.5 per cent, signalling that China's decades of explosive double-digit growth is drawing to a close.



http://www.stuff.co.nz/business/worl...-housing-plans
I don't trust any move - when you have profit...take it.
  • #307,842
  • Apr 12, 2012 6:39pm Apr 12, 2012 6:39pm
Quoting Faller
Beijing earlier this year lowered its annual growth target to 7.5 per cent, signalling that China's decades of explosive double-digit growth is drawing to a close.



http://www.stuff.co.nz/business/worl...-housing-plans
It would be about time, don't want to drown in inflation
Come with me if you want to live....
  • #307,843
  • Apr 12, 2012 6:48pm Apr 12, 2012 6:48pm
Good evening. Just closed my long after that shooting star in 4 hrs chart.

Made back all my losses from the fall from 1,6040.

Good end of the week for me.

GL everybody!
  • #307,844
  • Apr 12, 2012 6:48pm Apr 12, 2012 6:48pm
  •  eggs
  • | Joined Nov 2011 | Status: Everybodys A Central Banker Here... | 819 Posts
Pretty simple stuff here I know. But simplicity is often undervalued. In fact the most beautiful things in our universe are often the most simple. Scientist often dismiss theories based on the primes they are too complex. Occam's Razor has many postulates outlining the philosophy of making decisions relying on simplistic appearance & evidence.

"The explanation requiring the fewest assumptions is most likely to be correct."

So simply put: Old resistance New support. Will it Hold? If so. That's where my $$ will be this evening.
Attached Image (click to enlarge)
Click to Enlarge Name: cable.gif Size: 23 KB
  • #307,845
  • Apr 12, 2012 6:53pm Apr 12, 2012 6:53pm
Quoting eggs
Pretty simple stuff here I know. But simplicity is often undervalued. In fact the most beautiful things in our universe are often the most simple. Scientist often dismiss theories based on the primes they are too complex. Occam's Razor has many postulates outlining the philosophy of making decisions relying on simplistic appearance & evidence.

"The explanation requiring the fewest assumptions is most likely to be correct."

So simply put: Old resistance New support. Will it Hold? If so. That's where my $$ will be this evening.
Nice chart!
  • #307,846
  • Apr 12, 2012 7:04pm Apr 12, 2012 7:04pm
  •  eggs
  • | Joined Nov 2011 | Status: Everybodys A Central Banker Here... | 819 Posts
Quoting Leeson
Nice chart!
Thnks. Couple a' trend lines, Some Weekly & Daily Pivots, Fib your entries and your good. All you need.
  • #307,847
  • Apr 12, 2012 7:12pm Apr 12, 2012 7:12pm
  •  eggs
  • | Joined Nov 2011 | Status: Everybodys A Central Banker Here... | 819 Posts
Question is will we head higher through Asia before retesting that support. If so -- retrace up to the 78.6% @ .5975 trade down to that support level which is ALSO a 1.618 extension of that retrace. Stops above that high. Buy of support back up.
  • #307,848
  • Apr 12, 2012 7:16pm Apr 12, 2012 7:16pm
Quoting Ill-b-back
Do you see this crashing PT? I'm not home for the daily close.
i can see it touching 1.6000 before getting stupid again
  • #307,849
  • Apr 12, 2012 7:29pm Apr 12, 2012 7:29pm
Quoting PoundTrader
i can see it touching 1.6000 before getting stupid again

I am not sure which way price will go....all I can say is that it appears as though the market priced in the rumor about China beating the GDP number - therefore we have already seen the reaction before the numbers came out......however, if the number comes in at consensus or below.....then I would have to say price will drop.....
I don't trust any move - when you have profit...take it.
  • #307,850
  • Apr 12, 2012 7:36pm Apr 12, 2012 7:36pm
Very weak 4 hour candles have been forming...volume has been dropping off during this past 16 candles.....look inside the blue circle for the candle sticks....then look at the blue circle at the bottom of the chart....stochastics are starting to roll over and Macd is flat........but all this can change in a heart beat.....this is a tricky tricky zone.....
Attached Image (click to enlarge)
Click to Enlarge Name: Cable Weak 4 Hour Candles.png Size: 91 KB
I don't trust any move - when you have profit...take it.
  • #307,851
  • Apr 12, 2012 7:56pm Apr 12, 2012 7:56pm
  •  eggs
  • | Joined Nov 2011 | Status: Everybodys A Central Banker Here... | 819 Posts
Quoting Faller
Very weak 4 hour candles have been forming...volume has been dropping off during this past 16 candles.....look inside the blue circle for the candle sticks....then look at the blue circle at the bottom of the chart....stochastics are starting to roll over and Macd is flat........but all this can change in a heart beat.....this is a tricky tricky zone.....
Agreed. Things are a bit dodgy around this level. But the exhaustion you've highlighted is tell tell. Nice work .
  • #307,852
  • Apr 12, 2012 8:56pm Apr 12, 2012 8:56pm
Quoting bguguen
Seeing things calmed down a bit i thought i might share my view on GBPUSD

Now a couple things i need to inform... for me to enter a trade... what i wait for is....

Open Long when:
MA5 (Yellow) > MA14 (Purple)
MACD in Green
As soon as standard Deviation Wicks up on candle open will confirm entry based on the above 2 condition...

Open Short when:
MA5 (Yellow) < MA14 (Purple)
MACD in Red
As soon as Standard Deviation Wicks Up on candle open will confirm entry based on the above 2 conditions...

For the past couple H4 Candles we have...
Looks like its doing what i suggested... but too early to tell would need to see how london opens... or better yet.... China GDP....
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #307,853
  • Apr 12, 2012 9:01pm Apr 12, 2012 9:01pm
fucking market rumors about china gdp being over 9%
I don't trust any move - when you have profit...take it.
  • #307,854
  • Apr 12, 2012 9:01pm Apr 12, 2012 9:01pm
Talk about Manipulated Numbers....
What Mother Fucking assholes the big boys were... "Boo Hoo rumor has it China GDP will surprise on the upside possibly 9%..."

WTF dude we just got 8.1%

TOTAL FUCKERS!!!

Faller and I totally saw this coming.....

WELL WELL apparently the MARKET RUNS ON RUMORS.... go figure...
i wonder who was talking about Trade the Facts.... Pfft.... look how a fucking rumor came out in NY when Asia is Offline could move markets...
Fucking pricks....
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #307,855
  • Apr 12, 2012 9:03pm Apr 12, 2012 9:03pm
Quoting Faller
I am not sure which way price will go....all I can say is that it appears as though the market priced in the rumor about China beating the GDP number - therefore we have already seen the reaction before the numbers came out......however, if the number comes in at consensus or below.....then I would have to say price will drop.....
it's been a shitty week, still manage to get some ok pips
  • #307,856
  • Apr 12, 2012 9:05pm Apr 12, 2012 9:05pm
Quoting bguguen
Looks like its doing what i suggested... but too early to tell would need to see how london opens... or better yet.... China GDP....
everything is wrong everythings is right my friend, good luck
If skills could be acquired by watching, every dog would be a butcher. Turk
  • #307,857
  • Apr 12, 2012 9:05pm Apr 12, 2012 9:05pm
oh well.. down we go =)
  • #307,858
  • Apr 12, 2012 9:05pm Apr 12, 2012 9:05pm
Quoting Faller
fucking market rumors about china gdp being over 9%
Who ever trades market "rumours" deserves to get spanked
Come with me if you want to live....
  • #307,859
  • Apr 12, 2012 9:07pm Apr 12, 2012 9:07pm
Quoting Ill-b-back
Who ever trades market "rumours" deserves to get spanked
Well i didnt... But MAN wow..... if you look at how AUDUSD gone up on a rumor... i cant dare to think what the Fact of 8.1% GDP from CHINA is gona do to the AUDUSD.... MAJOR MAJOR tanking... probably gona see 1.0000 in 2 weeks time....
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #307,860
  • Apr 12, 2012 9:10pm Apr 12, 2012 9:10pm
Quoting bguguen
Well i didnt... But MAN wow..... if you look at how AUDUSD gone up on a rumor... i cant dare to think what the Fact of 8.1% GDP from CHINA is gona do to the AUDUSD.... MAJOR MAJOR tanking... probably gona see 1.0000 in 2 weeks time....
This is one reason why majority lose
Come with me if you want to live....
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