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Cable Update (GBPUSD)

  • #313,421
  • May 16, 2012 8:09am May 16, 2012 8:09am
bearish ?

Major res ,bit early for my liking ,
at my target
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  • #313,422
  • May 16, 2012 8:12am May 16, 2012 8:12am
Quoting bguguen
I wonder where UCAD is... Oh... it broke to the upside... Jolly good... i hope that A-Speculator's alright...
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mate, i TPed yesterday at 9995.. look my previous post, i did mention support at 9990..
  • #313,423
  • May 16, 2012 8:19am May 16, 2012 8:19am
Quoting A-speculator
mate, i TPed yesterday at 9995.. look my previous post, i did mention support at 9990..
ah okay good glad your safe then
We live in a finite world with infinite possibilities.
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  • #313,424
  • May 16, 2012 8:35am May 16, 2012 8:35am
Current retail positioning is still bearish cable, with traders selling the break of 1.59. Current low around 200 day ema. My bias to scalp long near 1.59 with a stop below todays low if the retailers continue selling cable around this level with a traget of a retest of the broken trendline. Import trade not to hold if goes negative as 1.5750 would be next support.
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  • #313,425
  • May 16, 2012 8:42am May 16, 2012 8:42am
Quoting bguguen
ah okay good glad your safe then
but i think it's more to luck, since the first move towards 9990 very close to my TP price and rebounce, the second move that triggered the TP. if there was no second move, i might get only 1 pips... lol.
  • #313,426
  • May 16, 2012 8:55am May 16, 2012 8:55am
Good day to you,

Took my loss on the chin last night. May just have been early..

-44 pips.

Got in long again lower earlier as today may be a possible reversal point. Looking for the 50% line to hold. Went in with 2 lots - probability dictates since we can only " guess".

If broken - i'm out again. Will cost me another 30 pips then. X2. Or I can get out now and will then have recovered yesterdays loss + a little bit.

what to do? Greed vs fear..

Regards
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  • #313,427
  • May 16, 2012 9:47am May 16, 2012 9:47am
Quoting TauTrader
Good day to you,

Took my loss on the chin last night. May just have been early..

-44 pips.

Got in long again lower earlier as today may be a possible reversal point. Looking for the 50% line to hold. Went in with 2 lots - probability dictates since we can only " guess".

If broken - i'm out again. Will cost me another 30 pips then. X2. Or I can get out now and will then have recovered yesterdays loss + a little bit.

what to do? Greed vs fear..

Regards
that's brave mate.. i'm hoping that would work out..

on my side, damn.. i thought i got the best price with no drawdown on the aussie, but market is market.. oh well..
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  • #313,428
  • May 16, 2012 10:29am May 16, 2012 10:29am
Quoting bguguen
Its not the bottom yet dude...if you are looking for a bottom you should be eyeing at 1.5780-1.5750
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cable just make a move and already taking about bottom? if 5900 taken out.. there will be a long long long waaayyyy down..
  • #313,429
  • May 16, 2012 11:19am May 16, 2012 11:19am
Quoting A-speculator
that's brave mate.. i'm hoping that would work out..

on my side, damn.. i thought i got the best price with no drawdown on the aussie, but market is market.. oh well..
Good day to you, sir

I'm going on historical timing here....

200 pips upside - maybe?

EU to go to 1.22xx later in the year - so GU probably follows... but first EU to 1.3150 in coming days/weeks. That is 400 from here..

will keep these longs and see...

regards
  • #313,430
  • May 16, 2012 11:25am May 16, 2012 11:25am
Quoting TauTrader
Good day to you, sir

I'm going on historical timing here....

200 pips upside - maybe?

EU to go to 1.22xx later in the year - so GU probably follows... but first EU to 1.3150 in coming days/weeks. That is 400 from here..

will keep these longs and see...

regards
good day to you too mate..

i wouldn't bet on that mate.. 3150 is more than 1.3 psychological support level. Furthermore, to make that high retracement, we should get consolidation/accumulation on the weekly. i'm not sure the price are showing any kind of accumulation on the daily or the weekly yet.

nearest support for EU atm is low of 2600 area based on daily which is the previous low swing. my point is, i don't think the price is showing any kind of accumulation just yet and i don't think there will be retracement that high. in fact i think we will break the 5900 in the nearest future.
  • #313,431
  • May 16, 2012 11:31am May 16, 2012 11:31am
Quoting TauTrader
Good day to you, sir

I'm going on historical timing here....

200 pips upside - maybe?

EU to go to 1.22xx later in the year - so GU probably follows... but first EU to 1.3150 in coming days/weeks. That is 400 from here..

will keep these longs and see...

regards
you may be right about EU. I'm thinking along similar lines, a bit lower target.

good luck with your trade.
  • #313,432
  • May 16, 2012 11:37am May 16, 2012 11:37am
However (i know im new) i wouldnt count on the EUR trade - going up 300-400 points as i think its 90% + that greece will be out in coming weeks, - what will happen then?
im asking?? i'm guessing that eu will go down more, - end of euro? - Ireland is pretty bad as is spain. They say - GB will be effected big time also - economically etc, - so it may not go up " as the safe currency". Experts say USA will be in a recession by june/july (another one) - but wont have confirmation of this until xmas.
(no good news - so whats a good "game plan" for that scenario?
VB

Quoting TauTrader
Good day to you, sir

I'm going on historical timing here....

200 pips upside - maybe?

EU to go to 1.22xx later in the year - so GU probably follows... but first EU to 1.3150 in coming days/weeks. That is 400 from here..

will keep these longs and see...

regards
  • #313,433
  • May 16, 2012 11:50am May 16, 2012 11:50am
Quoting Vikingbarde
However (i know im new) i wouldnt count on the EUR trade - going up 300-400 points as i think its 90% + that greece will be out in coming weeks, - what will happen then?
im asking?? i'm guessing that eu will go down more, - end of euro? - Ireland is pretty bad as is spain. They say - GB will be effected big time also - economically etc, - so it may not go up " as the safe currency". Experts say USA will be in a recession by june/july (another one) - but wont have confirmation of this until xmas.
(no good news - so whats a good "game plan"...
Good day to you, sir

It is good that you form your own opinions. That is how one grows...

I am no fundamentalist... Not my strongpoint. Actually do not have any - come to think of it..

We are at probable turning points on both EU and GU in terms of recent PA patterns - can only work with charts..that is what I am attempting to trade. If wrong - then wrong. No shame in that.

EU may form a classic pin on Daily - this couples with recent timing - just saying...

Can not comment further than that.

all success

Regards
  • #313,434
  • May 16, 2012 11:55am May 16, 2012 11:55am
Quoting TauTrader
Good day to you, sir

It is good that you form your own opinions. That is how one grows...

I am no fundamentalist... Not my strongpoint. Actually do not have any - come to think of it..

We are at probable turning points on both EU and GU in terms of recent PA patterns - can only work with charts..that is what I am attempting to trade. If wrong - then wrong. No shame in that.

EU may form a classic pin on Daily - this couples with recent timing - just saying...

Can not comment further than that.

all success

Regards
good day mate,

that candle could be anything, mate.. it's not closed yet.. and with FOMC minutes coming up.. just my opinion.
  • #313,435
  • May 16, 2012 11:59am May 16, 2012 11:59am
that 4h candle stick looks like a reversal. watch out guys. cable can get stupid
  • #313,436
  • May 16, 2012 12:01pm May 16, 2012 12:01pm
Quoting A-speculator
good day mate,

that candle could be anything, mate.. it's not closed yet.. and with FOMC minutes coming up.. just my opinion.
Good day to you,

Therefor the word "may"..

Opinion valued

Regards
  • #313,437
  • May 16, 2012 12:07pm May 16, 2012 12:07pm
for now, - and going to a 20th may high, - before retracement
Is that the view?
If doesnt breach 1.59 , tday - then its not going to 1.58 this time - is that correct?
VB
  • #313,438
  • May 16, 2012 12:09pm May 16, 2012 12:09pm
Quoting TauTrader
Good day to you,

Therefor the word "may"..

Opinion valued

Regards
i thought you missed the FOMC thing.. . but if it's a normal day, at this time, it can be said that the candle will closed as a pin.
  • #313,439
  • May 16, 2012 12:12pm May 16, 2012 12:12pm
  •  eggs
  • | Joined Nov 2011 | Status: Everybodys A Central Banker Here... | 819 Posts
There have been some interesting remarks and opinions in the forum as of late in regards to our capital markets being manipulated. While the definition of manipulation means many different things to different people, positions are taken in this market that are soooo large that without a doubt "manipulate" the price action we see on our screens. Take time to read this article from FORBES http://www.forbes.com/sites/investop...des-ever-made/

It might just make you a believer.....
  • #313,440
  • May 16, 2012 12:22pm May 16, 2012 12:22pm
Hi, so based on charts, you think the Euro is goign to change to the upside as soon as next week? for eg. What does the charts say about gbp.usd - was it up 200-300 points? next 1-2 weeks.
A number of expected thinks didnt happen tday
1) gold down more
2) Oil down to 91
3) S&P down
those didnt happen tday - seems like change consolidation ??

I shorted AUD/USD as a trade for monday ... if Gold goes back up, that trade wont seem like a wise move.
VB
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