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Cable Update (GBPUSD)

  • #308,421
  • Apr 16, 2012 1:36pm Apr 16, 2012 1:36pm
Good day to you,

I'm off to bed. First short in @ 1.5904. May add or will cut if 1.5936 goes. No spesific target -

Regards
  • #308,422
  • Apr 16, 2012 1:44pm Apr 16, 2012 1:44pm
Quoting Vogon
Good trade and You are right, I need to focus more on levels and PA and less on forecasting.
There was nice bullish PA about 2.5 hours ago in an uptrend that had cleared an important level. But I was not alert to take it.

What triggered you to go long yesterday?
Aproaching strong support on low 1.58. I had SL @1,5795. Good Risk/Reward.
  • #308,423
  • Apr 16, 2012 1:46pm Apr 16, 2012 1:46pm
Quoting Leeson
Aproaching strong support on low 1.58. I had SL @1,5795. Good Risk/Reward.
plenty of confluence there.. A1 trade..
  • #308,424
  • Apr 16, 2012 1:51pm Apr 16, 2012 1:51pm
Quoting nAVIN2007
plenty of confluence there.. A1 trade..


And now we have 1.5913 (100 hour SMA) approaching.... Let's see.
  • #308,425
  • Apr 16, 2012 2:10pm Apr 16, 2012 2:10pm
Quoting Leeson


And now we have 1.5913 (100 hour SMA) approaching.... Let's see.
im sure u will be happy with this trade
  • #308,426
  • Apr 16, 2012 2:45pm Apr 16, 2012 2:45pm
Quoting Ill-b-back
Buys look risky to me right now.
I'm waiting for lower levels.
What I meant to say was this looks like a GREAT place to go long due to bullish PA off the ascending TL damn this PA is powerful, cable doesn't seem to care what economics, physics or hell, even gravity thinks
Come with me if you want to live....
  • #308,427
  • Apr 16, 2012 2:57pm Apr 16, 2012 2:57pm
Quoting Ill-b-back
What I meant to say was this looks like a GREAT place to go long due to bullish PA off the ascending TL damn this PA is powerful, cable doesn't seem to care what economics, physics or hell, even gravity thinks
watch out....I am going to flush the toilet soon.
I don't trust any move - when you have profit...take it.
  • #308,428
  • Apr 16, 2012 3:03pm Apr 16, 2012 3:03pm
Quoting Faller
watch out....I am going to flush the toilet soon.
I think my hedge has the market confused
Come with me if you want to live....
  • #308,429
  • Apr 16, 2012 3:20pm Apr 16, 2012 3:20pm
A picture is worth a thousand words....

The up trend line from the beginning of the year has been broken....and we tested it back to the upside today......we are below many important moving averages......

It will take a lot to move this pair up -

This chart is the futures chart and is a 16 hour chart....each candle stick is 16 hours of trading.

Faller
Attached Image (click to enlarge)
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I don't trust any move - when you have profit...take it.
  • #308,430
  • Apr 16, 2012 3:28pm Apr 16, 2012 3:28pm
good analysis
  • #308,431
  • Apr 16, 2012 3:28pm Apr 16, 2012 3:28pm
Quoting Faller
A picture is worth a thousand words....

The up trend line from the beginning of the year has been broken....and we tested it back to the upside today......we are below many important moving averages......

It will take a lot to move this pair up -

This chart is the futures chart and is a 16 hour chart....each candle stick is 16 hours of trading.

Faller
Im not sure it is a 16 hr TL though bro. Is it broken on the daily/weekly chart? I'm at work so can't tell.
Come with me if you want to live....
  • #308,432
  • Apr 16, 2012 3:49pm Apr 16, 2012 3:49pm
Daily candle could well close as a bullish hammer following the move up off the Daily/Weekly ascending trend line and top of the previous Daily swing lo zone...this t/f remains bullish-rangy in respect of overall price action -peak/valley analysis.

G/L
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Click to Enlarge Name: Daily.jpg Size: 99 KB
ex member
  • #308,433
  • Apr 16, 2012 4:39pm Apr 16, 2012 4:39pm
Looking at the Euro daily I see bad things....and most times GBP follows Euro down -

today was a sell off in technology - which is a consumer area......

will have to see if Dow Transports and Dow and ES follow tomorrow.....

Aud comes out with minutes tonight.....going to be bearish.....

GBP has lots of news this week.....can't be bullish.....

Like I said a week ago....how can most countries have NEGATIVE or flat GDP and we say that is a recovery.......China was suppose to beat with over 9% GDP - they come in at 8.1% and can we really trust that number?

Spain spreads are widening the euro zone is inn a cluster fuck and China is slowing down.....why do you think they are letting their currency float by 1% now.....because of inflation.....they are hurting.....and you think the UK is not hurting......


Anyway....off for supper here.....

Faller.
I don't trust any move - when you have profit...take it.
  • #308,434
  • Apr 16, 2012 4:52pm Apr 16, 2012 4:52pm
be our own and not follow others will be more valuable than anything
not euphoria follower
  • #308,435
  • Apr 16, 2012 5:02pm Apr 16, 2012 5:02pm
Quoting iqyu5an
be our own and not follow others will be more valuable than anything

true....
I don't trust any move - when you have profit...take it.
  • #308,436
  • Apr 16, 2012 5:02pm Apr 16, 2012 5:02pm
Quoting Faller
Looking at the Euro daily I see bad things....and most times GBP follows Euro down -

today was a sell off in technology - which is a consumer area......

will have to see if Dow Transports and Dow and ES follow tomorrow.....

Aud comes out with minutes tonight.....going to be bearish.....

GBP has lots of news this week.....can't be bullish.....

Like I said a week ago....how can most countries have NEGATIVE or flat GDP and we say that is a recovery.......China was suppose to beat with over 9% GDP - they come in at 8.1% and can we really...
Have a nice supper bro. One thing though, I don't think I have seen any member on FF mention anything about a recovery.
Come with me if you want to live....
  • #308,437
  • Apr 16, 2012 5:04pm Apr 16, 2012 5:04pm
Other then January 14, 2012 to February 8, 2012 there has been no real move in Cable - we have been trading a shitty range 1.56 to 1.60

I am sure we have all made our pips and lost some as well.....but the really move has yet to happen.......I am not saying which way it will go.....but this sideways action since February has been brewing something.
I don't trust any move - when you have profit...take it.
  • #308,438
  • Apr 16, 2012 5:06pm Apr 16, 2012 5:06pm
Quoting Ill-b-back
Have a nice supper bro. One thing though, I don't think I have seen any member on FF mention anything about a recovery.
Personally, I think this years up move might have more to do with a lack of faith in the USD as a safe haven than UK, but that is just my thoughts.
Come with me if you want to live....
  • #308,439
  • Apr 16, 2012 5:10pm Apr 16, 2012 5:10pm
Quoting Ill-b-back
Personally, I think this years up move might have more to do with a lack of faith in the USD as a safe haven than UK, but that is just my thoughts.

there are some "professionals" that have said the same thing.....
I don't trust any move - when you have profit...take it.
  • #308,440
  • Apr 16, 2012 5:12pm Apr 16, 2012 5:12pm
But now that USA is showing recovery and showing positive and growing GDP - and Euro and UK still in the shitter.......money will move back to the USA - we have to step back and look at the big picture.

How quickly everyone forgets what happened yesterday and last week and last month etc.....everyone is so focused on the the tick and minute charts......it can blind you.
I don't trust any move - when you have profit...take it.
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