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Cable Update (GBPUSD)

  • #314,201
  • May 22, 2012 3:18am May 22, 2012 3:18am
Quoting dotless
what's on at 10:30?
Sorry, at 10:30 (GMT+1). CPI and other GBP datas.
"Study the past if you would define the future." Confucius
  • #314,202
  • May 22, 2012 3:35am May 22, 2012 3:35am
Good news for the bears then
  • #314,203
  • May 22, 2012 3:36am May 22, 2012 3:36am
Quoting HotBiscuits
Good news for the bears then
not necessarily as price still trade above 5800..
  • #314,204
  • May 22, 2012 3:36am May 22, 2012 3:36am
Quoting A-speculator
i'm sorry i have to say this nav. that is not what called discipline when you have positions without stops.. that is reckless mate..

I have a stop..that is the stop and its on a 16 month time frame..i also have mm associated with it.its a trade i also have a target.
  • #314,205
  • May 22, 2012 3:38am May 22, 2012 3:38am
Just took a long position.
  • #314,206
  • May 22, 2012 3:38am May 22, 2012 3:38am
Quoting Snarkalarker
Just took a long position.
sl?
  • #314,207
  • May 22, 2012 3:42am May 22, 2012 3:42am
G/M

yesterday's bullish daily candle follow thru on Friday's bullish hammer-esq candle made for a fractal swing lo at 5731 on the daily t/f. New ascending Daily and 4hr trend lines created by this fractal swing lo. Price has found supply at the 23.6% 6214-5731 move in pre-Uk data trading and the knee-jerk data reaction sees a adownside follow thru occur. -nice pre-data pa triggers and bearish div on 15min.

G/L
Attached Image(s) (click to enlarge)
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ex member
  • #314,208
  • May 22, 2012 3:46am May 22, 2012 3:46am
watchout guys, the ascending triangle has been broken to the downside, so be careful with your longs
  • #314,209
  • May 22, 2012 3:47am May 22, 2012 3:47am
yesterday's pip range only 61 pips, aily pivots are bunched up today as a result - price at the current Lo at Daily S1 already for eg. So far today 60% of 20 day atr covered, so far this week 29% of 20 week atr.

G/L
ex member
  • #314,210
  • May 22, 2012 3:47am May 22, 2012 3:47am
closed sell stop +10 pips
Trade what you see not what you hope
  • #314,211
  • May 22, 2012 3:52am May 22, 2012 3:52am
Quoting HotBiscuits
sl?
SL?

Undecided as of now.

In the meantime I will just watch the PA and see how it plays out. I am long past the point where any hesitation is at play when getting out of a bad trade.

1.5811 is my basis.

The numbers were not that bad and the 1.5800 area seems fairly strong. So if starts fading below that in a meaningful fashion I'll cut the cord.
  • #314,212
  • May 22, 2012 3:59am May 22, 2012 3:59am
all technical killed by news
  • #314,213
  • May 22, 2012 4:01am May 22, 2012 4:01am
Quoting jajano
all technical killed by news
technically the trend is down, the news did it's job.
  • #314,214
  • May 22, 2012 4:15am May 22, 2012 4:15am
Quoting tunera
technically the trend is down, the news did it's job.
yes. GBP is gone now. I opened a EUR/GBP long taking inspiration from bgyugen
  • #314,215
  • May 22, 2012 4:16am May 22, 2012 4:16am
So, false upside break of the recent consolidation highs on 1hr....and a downside break of the said lows and ascending 1hr trend line as Uk data react continued.

Near-term current 1hr as below. Daily S2 @/around 5755 and Daily S3 @/around 5733.

General opa downtrend still present on 4hr/daily, 1hr mixed-consolidation

G/L
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ex member
  • #314,216
  • May 22, 2012 4:16am May 22, 2012 4:16am
Quoting Snarkalarker
SL?

Undecided as of now.

In the meantime I will just watch the PA and see how it plays out. I am long past the point where any hesitation is at play when getting out of a bad trade.

1.5811 is my basis.

The numbers were not that bad and the 1.5800 area seems fairly strong. So if starts fading below that in a meaningful fashion I'll cut the cord.
sl? undecided. what if the gbp tanks 100 pips today. whats ur risk level?
  • #314,217
  • May 22, 2012 4:18am May 22, 2012 4:18am
no hope for the bulls.. or we back in range?

sideline for now..
  • #314,218
  • May 22, 2012 4:22am May 22, 2012 4:22am
Quoting tunera
technically the trend is down, the news did it's job.
yes it is.
  • #314,219
  • May 22, 2012 4:27am May 22, 2012 4:27am
Quoting A-speculator
no hope for the bulls.. or we back in range?

sideline for now..
That's a good questionnn!
  • #314,220
  • May 22, 2012 4:28am May 22, 2012 4:28am
Quoting tunera
technically the trend is down, the news did it's job.
depends which t/f (s) you are talking about and how you measure whether a t/f is ranging or trending. The 'news' doesn't do a 'job' - the market reacts how it reacts - news is not 'in league' with a trend.

G/L
ex member
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