Cable Update (GBPUSD)

Quoting bbakker

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It is a big bear flag. I dunno. Dollar bears are still in control. OK, so we have retraced since Ben announced unlimited QE, but with all the fundamentals flying around, CB intervention, it really makes for chop chop trading.

Even all the bad numbers coming out of the UK are not driving the £ down. EURCHF has finally woken up. Markets see Spain bailout as positive and risk is still on.

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Quoting pawpaw1000

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Hey BB,

how goes? see you still pop in here now and then?

hows the trading going? I'm progressing along quite nicely but PA has been crazy on fibre lately... just got short cable, agree we'll see a nice retrace

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Quoting nAVIN2007

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this trade i have is based on candle formations..the index gbp imho forecasting an evening star type formation..so im looking for weakness..usd hopefully can pull da finger out

euro hopefully drop as well..i think we have travelled the extremes for the long..i reckon big drop coming
nice to see u around m8

brian check where the 50 fibo is and where the trendline is..and order flow..its a flag alright!!

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Quoting Ziko9o8

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- Great analysis Navin.

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Quoting bbakker

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Hey JN!

Not very often these days... I'm focused on myself now and FF is a distraction. I pop in once in a while to say hello to old friends.

Trading is going really well. I focus mainly on the weekly/daily for swing trading and hourly for scalps... hit and run. I have a hit and run short on EU going now and a short swing trade on GU from the top.

I have had two failed short attemps on EU today and lost 0.7 pips in total. 3rd time lucky... Other 2 are hovering around 20 and 10 pips profit, but I want to see it break down. I can squeeze more...

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Quoting nAVIN2007

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this trade i have is based on candle formations..the index gbp imho forecasting an evening star type formation..so im looking for weakness..usd hopefully can pull da finger out

euro hopefully drop as well..i think we have travelled the extremes for the long..i reckon big drop coming
nice to see u around m8

brian check where the 50 fibo is and where the trendline is..and order flow..its a flag alright!!

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Quoting bbakker

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Here are my 2 shorts on GU which are now safe and already covered some of it.

Attachment

I will add another short at 1.62 if price gets there. Let's see what happens, but I like your TA.

Here are my EU trades... still waiting for that breakdown

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Already made it safe... target around 1.29 if not higher...

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Quoting Ziko9o8

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- Well, can I ask you about your confluences to sell the 1.2967?

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Quoting nAVIN2007

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i try bud i try!! thanks man..still early days thou

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Quoting bbakker

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Nice h4 supply level and near last week's high. I still use higher timeframes for scalping... when I scalp, I am talking about 2 or 3 max a day. I know some that scalp 10, 20 even 50 trades a day.

Now it needs to break the m15 trendline if it is going to have any legs!

Also, if you look at the h4 swings, it is back at the swing high. Bouncing of the trendline as I speak.

Finally... EU moves in 20 pips... the previous resistance was at 1.2947 and that is how I got my 1.2967 number and hence my entry was bang on!

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Quoting Ziko9o8

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- Thanks.

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Quoting bguguen

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holy shit... AUDUSD still tanking....

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Quoting bbakker

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Here are my 2 shorts on GU which are now safe and already covered some of it.

Attachment

I will add another short at 1.62 if price gets there. Let's see what happens, but I like your TA.

Here are my EU trades... still waiting for that breakdown

Attachment

Already made it safe... target around 1.29 if not higher...

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Quoting nAVIN2007

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like i said it was beauty

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Quoting pawpaw1000

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Also got stopped short on EU, not gonna trade her for this retrace unless she makes another attempt at the highs for better position...

my cable short is up 12 and got s/l to be, almost ;-)

looking to add to my short once we drop below 60... tp 37 for the moment

EDIT: pending sell at 68 to add to current short... 50% of normal lot

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Quoting bguguen

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moved my Sl just above that Daily EMA 200 (1.03101) SL at 1.0320
Got TP moved the 1.0225 theres a fib there.... and Daily RSI approaching over sold so ill take profit there and look for short opportunities when RSI is in overbought regions...

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Quoting nAVIN2007

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leave it alone its a runner..it will go to 1.02 easy
u have a good target i feel

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Quoting bguguen

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actually ive been shouting AUDUSD 0.95 by year end....

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Quoting nAVIN2007

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u gotta love the instincts hey bro
man these people cannot fool and old horse

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Quoting bguguen

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shitty thing is my EURUSD year end forecast at 1.20 and GBPUSD year end forecast at 1.50 is way way far.... but a lot can happen in 2 months time...

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