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Cable Update (GBPUSD)

  • #328,201
  • Oct 25, 2012 3:44am Oct 25, 2012 3:44am
Quoting fxtyrant
Im guessing that trend line of ours should still be rejected, im guessing this rally up has priced in 1%gdp, buy the rumour as they say it....
We will find out soon me thinks
  • #328,202
  • Oct 25, 2012 3:47am Oct 25, 2012 3:47am
Quoting gavalar
We will find out soon me thinks
And how would we find this out? I am trying to think of the best indication that would suggest, yes, the trendline defended itself (or not).
  • #328,203
  • Oct 25, 2012 3:51am Oct 25, 2012 3:51am
Quoting Raftron
And how would we find this out? I am trying to think of the best indication that would suggest, yes, the trendline defended itself (or not).
Well the way I like to find out is by looking at the chart

No seriously, all my other indicators will start clicking in one by one if we are going back down
  • #328,204
  • Oct 25, 2012 3:52am Oct 25, 2012 3:52am
Quoting nAVIN2007
this move up doesnt matter..its 1.63 breaking thats what matters

we might be at channel high..i must say i didnt see this coming..
i will be looking for 1.60 now..we have exceeded dailly range..lets see what the mofo wants to do now
Neither did I Nav or i wouldn't have closed the long at 5992...LOL ... 62 pips but could have been more

And I only saw 6060/80 to short from.

Quoting albchr
long 5930
Ghost Rider - WWTBMD?
  • #328,205
  • Oct 25, 2012 3:52am Oct 25, 2012 3:52am
Quoting Raftron
And how would we find this out? I am trying to think of the best indication that would suggest, yes, the trendline defended itself (or not).
If u get a wick against a trendline suggests there are sellers near the trendline, bigger the wick or bigger the reaction, better validity of the trendline in place
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #328,206
  • Oct 25, 2012 3:54am Oct 25, 2012 3:54am
right lets see what USD can do now..
  • #328,207
  • Oct 25, 2012 3:57am Oct 25, 2012 3:57am
Quoting albchr
Neither did I Nav or i wouldn't have closed the long at 5992...LOL ... 62 pips but could have been more

And I only saw 6060/80 to short from.

u know i tried this very thing last time and it fell to 1.52..i was extremely tempted to do it again, but i remember what happened last time..theres to many people short..so it wont go down
  • #328,208
  • Oct 25, 2012 3:57am Oct 25, 2012 3:57am
Quoting fxtyrant
If u get a wick against a trendline suggests there are sellers near the trendline, bigger the wick or bigger the reaction, better validity of the trendline in place
Thanks. I can see the wick on H1 and H4 piercing the trendline however the candles haven't closed yet so I guess it is too early to make a call. Waiting for a confirmation from RSI too.
  • #328,209
  • Oct 25, 2012 4:00am Oct 25, 2012 4:00am
61.8% 6271-5912 and the descending 4hr/daily t/line at the current hi.

one analysts view of it: http://www.forexlive.com/blog/2012/1...-out-of-steam/

G/L
ex member
  • #328,210
  • Oct 25, 2012 4:09am Oct 25, 2012 4:09am
Quoting nAVIN2007
u know i tried this very thing last time and it fell to 1.52..i was extremely tempted to do it again, but i remember what happened last time..theres to many people short..so it wont go down
Yep, plus you still have your shorts from up top so no need to. I'm glad I closed my short for 191 and glad I took the long for 62 but MAN!! Could have been 162ish...LOL

I expected the bounce but only to 6060/80ish. I have MUCH to learn.
Ghost Rider - WWTBMD?
  • #328,211
  • Oct 25, 2012 4:14am Oct 25, 2012 4:14am
Quoting albchr
Yep, plus you still have your shorts from up top so no need to. I'm glad I closed my short for 191 and glad I took the long for 62 but MAN!! Could have been 162ish...LOL

I expected the bounce but only to 6060/80ish. I have MUCH to learn.

  • #328,212
  • Oct 25, 2012 4:24am Oct 25, 2012 4:24am
Quoting nAVIN2007
I'm beginning to think our bearish little retrace is over at 5900 and not the 5800 I was thinking bro. Perhaps we resume the overall bull trend now?
Ghost Rider - WWTBMD?
  • #328,213
  • Oct 25, 2012 4:30am Oct 25, 2012 4:30am
Quoting albchr
I'm beginning to think our bearish little retrace is over at 5900 and not the 5800 I was thinking bro. Perhaps we resume the overall bull trend now?

early days..
im actually thinking of a long term target of 1.5 but i cant share this view because its my edge but i will say if it goes to 1.5 im a long term bull to my original target way out there

Brian was so right about his channel and exit..damn just have paid more attention..lol
Attached Image (click to enlarge)
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  • #328,214
  • Oct 25, 2012 4:32am Oct 25, 2012 4:32am
Quoting bbakker
http://www.forexfactory.com/news.php?do=news&id=391490

The prediction is 0.6%, but I think it will be higher if he told MPs there was "good news" to come and hence one of the reasons for the rally today.

I am looking to short again around 1.6106 based on the daily chart. London's session tomorrow should be interesting.

Shame I closed the long this morning... oh well.
Cameron is being investigated for his hint... you naughty boy!

http://www.bbc.co.uk/news/uk-politics-20074592

This is an area I am looking to short... I will look for signs on the lower timeframes for entry. Maybe this thing won't move down until NY session, so don't go rushing in yet!
  • #328,215
  • Oct 25, 2012 4:33am Oct 25, 2012 4:33am
Hi,
I think this market can move higher.
GDP is good incentive for a push over 1.6130, then 1.6175 to 1.6300

1.5900 can be the 50% retracement of the last upmove.

GBP can be more resilient than you think, it surprises many with its strength,
  • #328,216
  • Oct 25, 2012 4:35am Oct 25, 2012 4:35am
He obviously held his long on this pairing ? Lol !

Quoting bbakker
Cameron is being investigated for his hint... you naughty boy!

http://www.bbc.co.uk/news/uk-politics-20074592

This is an area I am looking to short... I will look for signs on the lower timeframes for entry. Maybe this thing won't move down until NY session, so don't go rushing in yet!
ex member
  • #328,217
  • Oct 25, 2012 4:39am Oct 25, 2012 4:39am
Quoting albchr
Nope...unless this week closes engulfing the past two at 6133 or more and over the Blue weekly TL, I'm keeping the faith on a trip to 5800 or lower first.

That's the problem with things moving so slow. Gives too much time to start questioning myself...LOL
So last night I posted this. Today it's this...same chart.

I know the week isn't over but.... My how quickly things can change...LOL
Attached Image (click to enlarge)
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Ghost Rider - WWTBMD?
  • #328,218
  • Oct 25, 2012 4:47am Oct 25, 2012 4:47am
out for 54 pips, it will do for the day, 2.5 reds daily target eh...

I'm not falling for it, maybe I'm wrong, but stuff it.

This is BS and my edge says 5275 or so at least ( sorry nAV, don't quite know your edge but your red price icons give me a sense of a hint you crefty devil you)

Anyway, I doubt very much they would make it this easy, just give us more opps to sell.

News is bullshit these days, but I have had a couple of Merlots and lamb Shanks for dinner, so what...

Anyway, dead men walking I say...
Come with me if you want to live....
  • #328,219
  • Oct 25, 2012 4:56am Oct 25, 2012 4:56am
I will hold out until we break the top but a closed break of 6190 is a mental area
Attached Image (click to enlarge)
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Come with me if you want to live....
  • #328,220
  • Oct 25, 2012 4:59am Oct 25, 2012 4:59am
yes sir in chart you will notice two box ranges
above box 77 pips lower box 76 pips lower end of upper box is 1.5889 and upper end of lower box is the same, so when another potential target for the next range could be like this

total of two boxes = 77 pips + 76 pips = 153 pips
now if you add this 153 pips to the price 1.5889 which is boundary of both the boxes you will get this number 1.6142,

while typing high printed 6143
i hope you are getting some ideas, i have pending short at 6144,

prices still can go higher just the probability trade!!
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