Cable Update (GBPUSD)

i have a small buy order from the close last week at 1.562. gonna see what happens at the open but will be closing it and looking to short anything near the 1.57 mark. i still the=ink the long term trend is down for both the pound and the euro

this strength wont last long..I think today/tomorrow we goin to see 1.5400 short from 1.5704 SL BE
lets see what kinda data comes out ( AUD
PPI q/q ) it might give it push down if it comes negative

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http://www.forexfactory.com/attachme...1&d=1342978277
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http://www.forexfactory.com/attachme...1&d=1342977417
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am looking reaction within green box

http://www.forexfactory.com/attachme...1&d=1342778661

Traget 3 attained. Rolling stops on remaining 10% position to see how much more she will give me.

and.....

i am short from 1.5698,now i whonder where will it go. in my charts under 1.5582 i can see it going till 1.5464 and 1.5404.
but eur/usd is at important lvls and it my bounce up if it doesnt break 1.200 and this would take gbp/usd to upside i think.

.

1.5420 TP where I will scale

locked all @ 1.5609 now

ope3ned a long scalp @ 1.5550 as I mentioned Thursday....1.56 would be a TP for this one but I'll manually manage it

G/M,

Daily remains in an opa range after Friday's master bearish engulfing x 2 thrust candle and a fractal H at last week's Hi now just above it. Some downside follow thru so far this day.

G/L

well...a little fundies if you want.

last week as I told you I've seen that the greeks are fine and the country still floats and people still eat and spend.the only problem is that citizens don't pay any taxes and they never did.no restaurant will give you any bill so that's bad.It's just but a bunch of thieves in a german's eyes.
I mean they only took loans to pose in a life that they don't have,never paid any taxes meaning they never paid back any loans.
But,despite all this greeks will survive I have no doubt about it and they will far better out of EU...it's like rinse and repeat

Spain now...as I live here is kind of in the same situation.It is not only that people don't work as they are the laziest people in the world(after the Italians and Greeks)it is just they really don't realize they are gone.

they got used to live on loans and buy expensive cars and fancy 1-2-3-4-100 apartments thinking they are landlords and they are kings.

half of them are jobless and 70-80% of the young ones as well...all they do is sit on the beach and drink beer and drive sloooowly in the expensive cars.

where I live cops did not get the salaries for 11 months but the mayor spent 350k on a shitty ''feria'',some kind of a carnival when the streets are full of piss and garbage and most of them are drunk as hell and spend the last dime they have....only to go to the bank to get another loan again.

we are spiraling down and this will only end with either a war in europe by the end of this year either by an ''arab spring'' right here in the very hearth of the civilised nations


more and more regions of Spain ask for the bailout so...Spain is doomed as the 165 bln USD was ment for the banks not for the regions ...meaning more money to lend more austerity meaning less economic growth.

I feel they are all zombies....or like in THe Tunnel by Friedrich Dürrenmatt

''The protagonist is a 24 year old student, a fat and cigar-smoking loner, who boards his usual train to reach his university, but surprisingly, when the train enters a very small tunnel, the tunnel doesn’t end. The darkness continues for ten minutes, fifteen minutes, twenty minutes. The student gets nervous, but the other passengers are calm, because they don’t see (or don’t want to see) the imminent catastrophe. The student finds the train conductor, and questions him about what is going on with the train. The conductor is evasive at first, but eventually leads the student to the locomotive, which is empty. The conductor tells the student that the engineer already jumped when he realized what was happening to the train. After a failed attempt to pull the emergency brake, the train gets faster and faster, tipping into an abyss. Finally, the train is heading completely vertically and the falling student lands on the front glass of the still falling locomotive, where he greedily stares into the oncoming darkness. The train conductor, ever concerned with duty, asks what they should do, but the student answers: “Nothing (...) God let us fall. And now we'll come upon him.” Later, Dürrenmatt modified the ending. In the second version, first published in 1978, the last two sentences (one sentence in the German original: "Gott ließ uns fallen, und so stürzen wir denn auf ihn zu") are omitted and the story ends with the word "Nothing".''

Can you post your butterfly indicator?

This reminds me of when the Danish had really bad finances and there was a saying: "We travel to the abyss at full speed. But at least we travel first class."

Joe

Confirmation on daily for engulfing ,seen now ,poss 3 crows here ,1.55 support

1.54 true test

You can look at daily now and say chances of going positive ,even with hammer this is bearish set up within range

you can see price broke support after consolidation ,also lots of room

118 achievable

now now....1.5380 is what my calculations tell me on daily

below that one a good buy area is 1.5350-1.5280 but only if we get there this week or next week.

biggest problem is that on W I have a perfect sell and this means...1000 pips down so apparently the 1.45 I stated last week might be good

well well how I love it when I go back in time 12th July