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Cable Update (GBPUSD)

  • #314,781
  • May 25, 2012 7:00pm May 25, 2012 7:00pm
ya...Bones it is free fall and i don't know where the bottom is?

This week is same as previous week where price moved 50% or less than 33% retrace and moved in the intended direction.

I don't think there was any choppy market...after retrace price moved down the open of the weekly candle and then it went down...but not as much we expected?

Bottom will show sign of weakness in the trend but till now it is strong...i don't see price showing any sign of weakness...and it is free fall...
I am a hunter...i kill both bulls and bears...
  • #314,782
  • May 25, 2012 7:09pm May 25, 2012 7:09pm
Hey O ,really I don't think its time for retrace of any kind ,same as you if we go to 1.5400 area this month I will be on toes ,depending at what time we hit it


but next month we could see 1.52xx area ,that would b a break out of triangle on high time frames though
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #314,783
  • May 25, 2012 7:18pm May 25, 2012 7:18pm
monthly we could use to predict price this month no ?
Attached Image (click to enlarge)
Click to Enlarge Name: gbp usd monthly 26-5.gif Size: 17 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #314,784
  • May 25, 2012 7:22pm May 25, 2012 7:22pm
Maybe 1.5 the next month if triangle goes ? ,but risky I think to over extend what it can do this ,based on history of this chart in this region

You can do this to predict on high time frames

Quoting Bones
Hey O ,really I don't think its time for retrace of any kind ,same as you if we go to 1.5400 area this month I will be on toes ,depending at what time we hit it


but next month we could see 1.52xx area ,that would b a break out of triangle on high time frames though
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #314,785
  • May 25, 2012 7:24pm May 25, 2012 7:24pm
Hey Bones

Have you got any of your leg at 1.6 if so don't take profit from that let that survive....My hindsight is price will not reach 1.6 till next 6 months to 1 year.
I think so it is falling after one year price will be in the range of 1.55 to 1.45.so,let this positions run.it will not hit 1.6 until there is a very green year where all the markets run in profit.This won't happen until next year.so..so...
We will not return to 1.6.

We will see what happens but just keep my hindsight in your mind mate.
I don't understand what happens when US economy is asked to pay its massive debt. that is 16.4 trillion dollars or if US falls in Chaos.

HMMM...if greece,italy,spain,ireland exit then we don't see any Euro and if USD fall's then only place to hedge money is GOLD.So,everyone will stop there reserves as USD and start buying gold.

My bias is short all currency's against Euro and when US Chaos occur's(it will happen in 5 years) then we will short all USD pairs.
I am a hunter...i kill both bulls and bears...
  • #314,786
  • May 25, 2012 7:30pm May 25, 2012 7:30pm
Also we consider we are in freefall ,
Then we see this week is a very healthy bearish continuation ,no retrace ,no retrace!

yet


Quoting Bones
The condition of this market is free fall bb im sure you can see ? I notice on free fall theres a target
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #314,787
  • May 25, 2012 7:31pm May 25, 2012 7:31pm
Quoting Bones
monthly we could use to predict price this month no ?
Look at that last candle where it is engulfing more than 3 up-candles.
Bulls have built step-by-step up candles but bearish have engulfed in a single move.
Bearish...bearish...bearish...

this week will be interesting to see whether price will retrace a bit and move down or else will it free fall...

My bias is more towards free fall...
I am a hunter...i kill both bulls and bears...
  • #314,788
  • May 25, 2012 7:38pm May 25, 2012 7:38pm
lord martin o'reilly its late im buzzing lol ,no sleep this week for me haha

At 1.6300 I advised this thread of fall ,after dark cloud cover change was clear ,fall to nearest support High Probability

Only then I was on Eur only as eur gbp falling ,my account was limited to position size then

now I think pound will fall faster ( I am short eur also tho)

Gold = down right now I feel



Quoting oathbreaker
Hey Bones

Have you got any of your leg at 1.6 if so don't take profit from that let that survive....My hindsight is price will not reach 1.6 till next 6 months to 1 year.
I think so it is falling after one year price will be in the range of 1.55 to 1.45.so,let this positions run.it will not hit 1.6 until there is a very green year where all the markets run in profit.This won't happen until next year.so..so...
We will not return to 1.6.

We will see what happens but just keep my hindsight in your mind mate.
I don't understand what happens when...
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #314,789
  • May 25, 2012 7:40pm May 25, 2012 7:40pm
Quoting Bones
Maybe 1.5 the next month if triangle goes ? ,but risky I think to over extend what it can do this ,based on history of this chart in this region

You can do this to predict on high time frames
Hey Bones

IMHO...history charts what we are looking at had different scenarios compare to now.

This is some kind of unknown situation(if i invest in GBP pound now will i funds get appreciated ?) I don't think so...

IMO if GBP pound gets caught in the fire that's it....USD will start to burn...
then we can short USD too against Asian pairs such as AUD NZD and Singapore dollar but not JPY.

We will see what will happen...
I am a hunter...i kill both bulls and bears...
  • #314,790
  • May 25, 2012 7:40pm May 25, 2012 7:40pm
Bearish continuation this week down to support next ,look down


Quoting oathbreaker
Look at that last candle where it is engulfing more than 3 up-candles.
Bulls have built step-by-step up candles but bearish have engulfed in a single move.
Bearish...bearish...bearish...

this week will be interesting to see whether price will retrace a bit and move down or else will it free fall...

My bias is more towards free fall...
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #314,791
  • May 25, 2012 7:44pm May 25, 2012 7:44pm
Quoting Bones
Bearish continuation this week down to support next ,look down
Get some sleep Bones. We will analyse Later mate...

I will be here online....
I am a hunter...i kill both bulls and bears...
  • #314,792
  • May 26, 2012 1:31am May 26, 2012 1:31am
Hey O on gold

Tony
Attached Image (click to enlarge)
Click to Enlarge Name: gold h4 26-05 h4 here.gif Size: 19 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #314,793
  • May 26, 2012 3:18am May 26, 2012 3:18am
Quoting Bones
The condition of this market is free fall bb im sure you can see ? I notice on free fall theres a target
hello, yes of course! i said so many times that pressure down is still strong infact price found strong reject just near 5700 then 5680 etc..

what i was showing is to be very cautious in both directions at these levels. i mean for those like me that are not already in a short position from higher level (like you for example). opening a short in the middle of 1.56 area expecting a straight move to 1.54 can be dangerous and require a possible drawdown till 1.59. bad R/R. even if with a stop near 5750 IMO is bad because can be a missed move and causing confusion about market.

not to talk about the insane idea to open a short 1 -2 pips below a low thinking that since the low is broken, price will tank more 100 pips. this can be true in supply area, but until not broken and re-tested, whole this 1.55 - 1.56 is a demand area

last time here, in different conditions, price went to 1.60 in ranging 1.56 - 1.60. now things are opposite but in this area there are some orders long triggering and we can't know how much they are, and price can give a jump of some 100 or even 150 pips and print a wave up to 1.58 - 1.59. would not be the first time and also not the last.

meanwhile i'm screening something else i can't post (will send you pm later).
overall: ok for downtrend is very clear and strong. but the more price goes down, the more increase my buy interest
90% of traders use TA, indicators and prediction
  • #314,794
  • May 26, 2012 3:38am May 26, 2012 3:38am
BB I'm very confident that the more it falls the faster it will go ,those that then realize the market condition ,I would happily advise take the break of this week which I expect to be very quick if not gap under ,look forward to your pm


Quoting _BBKing_
hello, yes of course! i said so many times that pressure down is still strong infact price found strong reject just near 5700 then 5680 etc..

what i was showing is to be very cautious in both directions at these levels. i mean for those like me that are not already in a short position from higher level (like you for example). opening a short in the middle of 1.56 area expecting a straight move to 1.54 can be dangerous and require a possible drawdown till 1.59. bad R/R. even if with a stop near 5750 IMO is bad because can be a missed...
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #314,795
  • May 26, 2012 4:17am May 26, 2012 4:17am
Hey Bones

I am analyzing XAU/USD.Monthly is showing strong sign of resistance at 1.522

and in weekly it is showing double bottom(black box) in the weekly chart.

Please,throw some light on this.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: xau-usd(monthly).gif Size: 18 KB
Click to Enlarge Name: xau-usd(weekly).gif Size: 20 KB
I am a hunter...i kill both bulls and bears...
  • #314,796
  • May 26, 2012 4:18am May 26, 2012 4:18am
Is it end of down trend?
I am a hunter...i kill both bulls and bears...
  • #314,797
  • May 26, 2012 4:46am May 26, 2012 4:46am
no not at all you see bearish patterns of that i am very confident ,in fact they are of high reliability


Quoting oathbreaker
Hey Bones

I am analyzing XAU/USD.Monthly is showing strong sign of resistance at 1.522

and in weekly it is showing double bottom(black box) in the weekly chart.

Please,throw some light on this.
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #314,798
  • May 26, 2012 5:00am May 26, 2012 5:00am
Thanks Bones...

I will try trading from monday....
I am a hunter...i kill both bulls and bears...
  • #314,799
  • May 26, 2012 5:03am May 26, 2012 5:03am
Hey O really only trade if you agree ,plenty pin bar traders I think do not see at all

But in candles ,even pretty is not always real ,I think about purpose of candle to filter
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #314,800
  • May 26, 2012 5:16am May 26, 2012 5:16am
Hey Bones

Here is my hindsight how i will trade gold this week.
1)I will draw fib. to weekly down bar and look whether will it retrace and break 1.522
2)if it breaks 1.522 then i will stack position if not i will stop adding positions.

I am biased towards downward trend as monthly,weekly and daily candle direction is strong downward direction but monthly,weekly pin bars are holding me back.

I will open my short position on monday and we will see what happens.
I am a hunter...i kill both bulls and bears...
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