Cable Update (GBPUSD)

Quoting albchr

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One could make that case bro. I still think we can hit 6xxx area before the big guns dump this hard. But I really thought/think it would test the breakout at 5730ish first. Maybe not....

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Quoting nAVIN2007

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this is the situation chris..
i short this pup

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Quoting NewbTrader7

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short? I'm kind of long here buddy...

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Quoting nAVIN2007

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oops typo stay long

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Quoting NewbTrader7

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why isn't it moving like eur/usd? aren't they somewhat supposed to move in tandem? makes me kind of suspect and curious to see if its a strong enough move or trying to shake out some stops before dropping.

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Quoting nAVIN2007

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this is the situation chris..
its simply a pullback to breakout point..

gold is running (broken out)
euro is outside breakout of channel
usd index has been dumped at 50% retrace level..and bearish PA
index on pound bull

then cable is a no brainer..beautiful setup..

i see no reason to short this pup

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Quoting albchr

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I agree which is why I'm flat on GU since last week. Only holding that EU short atm which I "may" cut soon.

But I'm not 100% in agreement with the USDX view. You're looking at weekly and monthly which, in your situation, is what u should be focused on. But a LOT can happen in between on the smaller TF's. I'll only go as low as Daily on the USDX for this point. even if it does fall a little more, I don't think it'll go very far.

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Quoting nAVIN2007

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looking at the big picture u can see..market hasnt bought usd recovery at all..infact market has discounted the rise as a retrace..brought it to base (support) and waiting for bernie...

if he say something like same old bs..market will sell..keeping trend intact..
look at the big picture and work backwards

what yur doing is a hancock..which usd has a habit of going against everything because of words alone..friday or gdp figures today will be interesting..

u know me chris and the bull i was for usd but the some bitch is harder to call...

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Quoting albchr

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Yeah, you just said it bro. And you know me, I always look at the big picture. Let's step up to the weekly here (and yes man, looking at monthly too). What I see is a small retrace "down" in an otherwise bull trend. No?

Nav you know me brother. Almost NOBODY has less faith in our beloved dollar than me. But the charts simply point me to what I'm thinking. Yeah big mouth will have his say but the question is, what will that be? Do u think come sept and beyond they're going to set the USD up for a big fall?

As always, u could be 100%...

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Quoting nAVIN2007

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nice chart that trading for yah..i personally think it will give way..4th touch trendline..kiss of death coming..black widow sh&t..style

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Quoting albchr

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Welp, if this month closes below previous support (2 Red arrows) at 78.92 (even a little), I'll think she'll drop some. But even so, I can't ignore that monthly 50% and LTL stting there roughly 60 pips below so I don't think it'll go too far.

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Quoting redbeben

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I might long @ 1.5814 TP1 1.5830

TP2 1.5850

this looks better and better but I'll only jump if I have confirmation

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Quoting nAVIN2007

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yes we never going to know till it happens..man am i glad i am working..jezzs man..trading this is a bi:ch

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Quoting TauTrader

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Good day to you,

I believe this is a good area to look at shorts. So entered at the current level with another entry reserved for a little higher up.

Regards

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