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Cable Update (GBPUSD)

  • #330,741
  • Nov 24, 2012 12:05am Nov 24, 2012 12:05am
I'd say a retest of the 1.6 area and broken TL,

is more than likely...

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  • #330,742
  • Nov 24, 2012 3:10am Nov 24, 2012 3:10am
Quoting Ill-b-back
I'd say a retest of the 1.6 area and broken TL,

is more than likely...

Talk about strange moves.... Look at nzdjpy.... Hit the monthly chart 200 ema to the pip....
Im expectong some sort of pullback on that pair....
We live in a finite world with infinite possibilities.
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  • #330,743
  • Nov 24, 2012 3:44am Nov 24, 2012 3:44am
Quoting fxtyrant
Talk about strange moves.... Look at nzdjpy.... Hit the monthly chart 200 ema to the pip....
Im expectong some sort of pullback on that pair....
It was the PA that gave it away for me. Bad GBP news or not, the bulls weren't going away.
Lately I have notice price eventually ends the week in the opposite direction of GBP news. It's turned into a game of deception from what I can see. I pay no real attention to it.

Anyway, at a birthday party, got to go.
That NZL/Yen had to hit a road block sometime

Got to go, have fun mate
Come with me if you want to live....
  • #330,744
  • Nov 24, 2012 4:03am Nov 24, 2012 4:03am
Quoting Ill-b-back
It was the PA that gave it away for me. Bad GBP news or not, the bulls weren't going away.
Lately I have notice price eventually ends the week in the opposite direction of GBP news. It's turned into a game of deception from what I can see. I pay no real attention to it.

Anyway, at a birthday party, got to go.
That NZL/Yen had to hit a road block sometime

Got to go, have fun mate
cable has a habit of being high towards christmas..i should have stuck to my original plan..lol
man this forex is becoming crazy!
  • #330,745
  • Nov 24, 2012 4:18am Nov 24, 2012 4:18am
BLACK FRIDAY
not euphoria follower
  • #330,746
  • Nov 24, 2012 5:04am Nov 24, 2012 5:04am
Quoting nAVIN2007
cable has a habit of being high towards christmas..i should have stuck to my original plan..lol
man this forex is becoming crazy!
I'm curious to know why you changed your mind nAV? At the bottom you were originally eyeing off 61 if I remember right, saying something like i can promise you it is 100 bullish.

Why change your mind with all that congestive consolidation and slanted inverse H&S forming?

To me it was looking very bullish on the 4hr, lining up nicely with the bullish type weekly bar off the ascending monthly TL.

It was counter trend on lower TF but seemed with the trend on the higher.

Once we crossed the descending daily TL, to me it seemed bullish although the PA was a little weak.
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  • #330,747
  • Nov 24, 2012 5:09am Nov 24, 2012 5:09am
Quoting nAVIN2007
cable has a habit of being high towards christmas..i should have stuck to my original plan..lol
man this forex is becoming crazy!
I'm eyeing off 6175 as very nice potential this week.
Come with me if you want to live....
  • #330,748
  • Edited 6:03am Nov 24, 2012 5:16am | Edited 6:03am
Quoting Ill-b-back
I'm curious to know why you changed your mind nAV? At the bottom you were originally eyeing off 61 if I remember right, saying something like i can promise you it is 100 bullish.

Why change your mind with all that congestive consolidation and slanted inverse H&S forming?

To me it was looking very bullish on the 4hr, lining up nicely with the bullish type weekly bar off the ascending monthly TL.

It was counter trend on lower TF but seemed with the trend on the higher.

Once we crossed the descending daily TL, to me it seemed bullish although the...

honestly it was tony..they are folks in here which are awesome traders and sometimes i do crazy things..if u remember just b4 i went to work i entered a hedge..because i couldnt monitor the trade..well when i returned a exited the long..hence the damn short..i wanted a test of 1.59 but it appear i was asking to much..hehe

it was the hedge..that done me
but i never ignore tony analyst skills either..lol
  • #330,749
  • Nov 24, 2012 7:00am Nov 24, 2012 7:00am
Im sorry Nav if I influenced you ,personally I never traded Cable ,but will admit not great week anyway ,

I think with 92 pip real body we will go higher ,but I will wait till end of month or d1 pa to trade

this chart is not easy at all

monthly this month I still dont think can turn bullish ,but low held very well




Quoting Bones
D1 tricky read Nav ,I see both sides ,poss its bullish in making but high up tf holding
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  • #330,750
  • Nov 24, 2012 7:21am Nov 24, 2012 7:21am
I guess this thing is bullish medium term ,I would really like 1.5700 odd myself in this 4 month chart which finishs in dec

1.6300 is so important
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  • #330,751
  • Nov 24, 2012 7:56am Nov 24, 2012 7:56am
GU W1 D1

Weekly Morning Star - it's real-body mid at 960. Friday real-body mid at 983 - I would favour a pullback to go long in this area (candles permitting) aiming for weekly res. (current level) then monthly res. around 140
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  • #330,752
  • Nov 24, 2012 10:06am Nov 24, 2012 10:06am
wow wondered where my candle book went
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  • #330,753
  • Nov 24, 2012 10:18am Nov 24, 2012 10:18am
guess i missed tl
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  • #330,754
  • Edited 12:01pm Nov 24, 2012 11:00am | Edited 12:01pm
Quoting Bones
Im sorry Nav if I influenced you ,personally I never traded Cable ,but will admit not great week anyway ,

I think with 92 pip real body we will go higher ,but I will wait till end of month or d1 pa to trade

this chart is not easy at all

monthly this month I still dont think can turn bullish ,but low held very well
its not yur fault buddy..i take many things into..its like u said probability of it going lower seemed on..id have never thought when i went to work..when it was at 1.5933 area it go to 1.6340 without news

sometimes it goes wrong..i still dont think it bullish thou..i will have to look at the chart tomorrow in detail
  • #330,755
  • Nov 24, 2012 11:01am Nov 24, 2012 11:01am
Quoting Bones
guess i missed tl
formation is still bearish..only bullish when 1.63 goes if it goes
  • #330,756
  • Nov 24, 2012 12:09pm Nov 24, 2012 12:09pm
Quoting nAVIN2007
formation is still bearish..only bullish when 1.63 goes if it goes
that's too far stretch mate.. atm in lower TF (4h) it doesn't look bearish.. personally, i'm not into cable since i'm a bear for this pair and atm no valid formation for bearish yet so, i'm watching other pairs which might has better formation to trade.

i hope you have set calculated exposure in your trade mate. it's not worth it waiting any losing position to become green by ignoring technical analysis (i mean hoping that it might change direction but technicals doesn't say so for the time being). i really hope you're not swinging huge drawdown anymore mate, that lesson learned right?

all the best to you and always remember that market is always right.
  • #330,757
  • Nov 24, 2012 12:12pm Nov 24, 2012 12:12pm
Quoting Bones
guess i missed tl
that's might as well be an evening star but in monthly many things can happen in the lower TF..
  • #330,758
  • Nov 24, 2012 12:14pm Nov 24, 2012 12:14pm
Quoting chazzle
GU W1 D1

Weekly Morning Star - it's real-body mid at 960. Friday real-body mid at 983 - I would favour a pullback to go long in this area (candles permitting) aiming for weekly res. (current level) then monthly res. around 140
from your chart, i would like to see a retest of the high of the hammer to go for long..
  • #330,759
  • Nov 24, 2012 12:51pm Nov 24, 2012 12:51pm
I do agree ,very much ,carefull with candles in consolidation area ,can make a monkey out out anyone ,haha

but also agree with chazzle gonna be supprised to see us go that low next week ,up first imo

maybe another freaky friday ,


Quoting A-speculator
that's might as well be an evening star but in monthly many things can happen in the lower TF..
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  • #330,760
  • Nov 24, 2012 1:07pm Nov 24, 2012 1:07pm
Quoting nAVIN2007
honestly it was tony..they are folks in here which are awesome traders and sometimes i do crazy things..if u remember just b4 i went to work i entered a hedge..because i couldnt monitor the trade..well when i returned a exited the long..hence the damn short..i wanted a test of 1.59 but it appear i was asking to much..hehe

it was the hedge..that done me
but i never ignore tony analyst skills either..lol
Well it's good your only using small percent risk exposure

Cable has been doing quite extreme bullish turn arounds this year, both in the 1st run up to 63 and in the 2nd run up. It's almost as if the hand of Go-, I mean Benny just won't let it go.
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