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Cable Update (GBPUSD)

  • #333,801
  • Jan 15, 2013 7:21am Jan 15, 2013 7:21am
Quoting Ill-b-back
Precisely bro, you are following your edge and I am following mine.
We clearly have different edges.

Don't take this the wrong way bro, but while your edge had you in drawdown for about 12 months, my edge was making many pips when I was skylarking as a pirate, remember that time towards the end of 2011?

I was skylarking around because my edge gave me so many clear and profitable signals that I was simply able to have fun with my trading.
Same thing with clear signals (at certain points) on our march to 63 last year.

I just say this to point out...
no worries..
  • #333,802
  • Jan 15, 2013 7:21am Jan 15, 2013 7:21am
Quoting _BBKing_
great!
a lot of reasons to stay on bullish side
  • #333,803
  • Jan 15, 2013 7:21am Jan 15, 2013 7:21am
Bids surface at yesterday's lo...a previous 1hr/4hr swing lo zone...bids reported down to 6020 earlier ? Lower ascending trend line shown may be a bit premature as not a fractal swing yet at today's current low on this1Hr t/f

G/L
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ex member
  • #333,804
  • Jan 15, 2013 7:23am Jan 15, 2013 7:23am
Quoting 100PipsADay


GBP/USD Daily Chart

Ascending Trend Line being tested again... Second time in 1 week this trend line has been tested, personally, I don't think it is going to hold this time. However, will wait to enter short on a confirmation. I still see 1.585 as a good place to take profit and see how price action reacts at that point. If more downward movement at that time then I will be keeping an eye on 1.55.
i really didn't notice at all that line
let's see what happens today. NY can shake things... important data are coming in few minutes!

meanwhile gold took a lift >1680. hopefully will get 2450$ in 2 days
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  • #333,805
  • Jan 15, 2013 7:33am Jan 15, 2013 7:33am
Quoting _BBKing_
i really didn't notice at all that line
let's see what happens today. NY can shake things... important data are coming in few minutes!

meanwhile gold took a lift >1680. hopefully will get 2450$ in 2 days
Yes, I've been keeping an eye on this TL for the past couple of weeks. 1.63 (major weekly resistance) showed clear rejection a few weeks back, just like Navin pointed out.

Gold touched 1684, the exact point where 50 EMA is on the Daily, I am expecting a rejection or at least some sideways consolidation for the time being. Time will tell...
  • #333,806
  • Jan 15, 2013 7:39am Jan 15, 2013 7:39am
fuk yeah! fuk yeah!
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  • #333,807
  • Jan 15, 2013 7:58am Jan 15, 2013 7:58am
Quoting 100PipsADay
Yes, I've been keeping an eye on this TL for the past couple of weeks. 1.63 (major weekly resistance) showed clear rejection a few weeks back, just like Navin pointed out.

Gold touched 1684, the exact point where 50 EMA is on the Daily, I am expecting a rejection or at least some sideways consolidation for the time being. Time will tell...
yes gold should not go far in next 2 weeks. but who knows ?
let's see....
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  • #333,808
  • Jan 15, 2013 7:59am Jan 15, 2013 7:59am
Long order triggered. Is a scalp for about 15-20 pips. Hoping for price to reach sell limit afterwards. Safe account closed for today after reaching target.. Aggressive account still active

http://i49.tinypic.com/9ss3kw.gif
  • #333,809
  • Jan 15, 2013 8:06am Jan 15, 2013 8:06am
GBP is actually kidding the market.
or maybe it is the EUR.
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  • #333,810
  • Jan 15, 2013 8:17am Jan 15, 2013 8:17am
gch + 180p
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  • #333,811
  • Jan 15, 2013 8:18am Jan 15, 2013 8:18am
Quoting _BBKing_
GBP is actually kidding the market.
or maybe it is the EUR.
maybe mate.. cleared my position on cable and just triggered my PO short on fiber @ 3335 (low of the 4h shooting star), SL just above 3350..

cable is very close to the support, got me nervous.. and EG 4h shows a cover.. i think perhaps i better stick on the fiber for the time being and wait for breakout on cable..
  • #333,812
  • Jan 15, 2013 8:21am Jan 15, 2013 8:21am
Quoting _BBKing_
gch + 180p
did you take the trade mate? well done then.. more upside on swissy imho..
  • #333,813
  • Jan 15, 2013 8:30am Jan 15, 2013 8:30am
Quoting A-speculator
did you take the trade mate? well done then.. more upside on swissy imho..
yes i did
actually will be waiting to see if reach 1.50 to cash some and wait a pullback to reload in the middle of 1.48 later.
time will tell.

btw... Egbp could be preparing to do the opposite (as usual but not always)
8220 in sight.
waiting to see how price develops >0.83 but i don't expect it to hold so much this area for long time.
let's see! if i miss the opportunity short, can be good the opportunity long near 0.82
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  • #333,814
  • Jan 15, 2013 8:33am Jan 15, 2013 8:33am
Quoting _BBKing_
yes i did
actually will be waiting to see if reach 1.50 to cash some and wait a pullback to reload in the middle of 1.48 later.
time will tell.

btw... Egbp could be preparing to do the opposite (as usual but not always)
8220 in sight.
waiting to see how price develops >0.83 but i don't expect it to hold so much this area for long time.
let's see! if i miss the opportunity short, can be good the opportunity long near 0.82
i'm looking fwd a retracement to about 8230 on EG.. hopefully that can bring down the fiber.. but 8300 has to go first..
  • #333,815
  • Jan 15, 2013 8:42am Jan 15, 2013 8:42am
thinking about the whole situation around market...
with EU near 1.34 -1.35 and UJ near 90....
wtf if holding so much the GBP weak?
i mean.. maybe i'm missing some fundamentals... any idea?
can it just be pure correction in Egbp? very welcome indeed but actually becoming strange and somehow robotic
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  • #333,816
  • Jan 15, 2013 8:47am Jan 15, 2013 8:47am
Quoting _BBKing_
thinking about the whole situation around market...
with EU near 1.34 -1.35 and UJ near 90....
wtf if holding so much the GBP weak?
i mean.. maybe i'm missing some fundamentals... any idea?
can it just be pure correction in Egbp? very welcome indeed but actually becoming strange and somehow robotic
imho, i think EG is on the large scale downtrend on the weekly.. perhaps the movement to the upside is just retesting the breakout price on april 2012..

what do you think mate?
  • #333,817
  • Jan 15, 2013 8:55am Jan 15, 2013 8:55am
Quoting A-speculator
imho, i think EG is on the large scale downtrend on the weekly.. perhaps the movement to the upside is just retesting the breakout price on april 2012..

what do you think mate?
yes the weekly overall downtrend but since brekout of the 8220... seen in weekly as extreme important low.... i expect some more up move till 84-85 in med term.
of course... best entry longs now are near 8220. best best best 8190 would be a great start of february
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  • #333,818
  • Jan 15, 2013 8:59am Jan 15, 2013 8:59am
Quoting _BBKing_
yes the weekly overall downtrend but since brekout of the 8220... seen in weekly as extreme important low.... i expect some more up move till 84-85 in med term.
of course... best entry longs now are near 8220. best best best 8190 would be a great start of february
long eh.. im not so sure if long is better than shorting the pair very near to 8300 area.. if happens to consolidate at about 8300, we might see massive downtrend on EG..

since the recent upmove is massive, i think price might need sometime to disperse the momentum, we might see quite large consolidation at about current price area.. imho.
  • #333,819
  • Jan 15, 2013 9:12am Jan 15, 2013 9:12am
Quoting A-speculator
long eh.. im not so sure if long is better than shorting the pair very near to 8300 area.. if happens to consolidate at about 8300, we might see massive downtrend on EG..

since the recent upmove is massive, i think price might need sometime to disperse the momentum, we might see quite large consolidation at about current price area.. imho.
possible.
actually hourly chart is still showing strength. i'm looking for something like this, a possible rectangle rangy. if fail, target will be there, while above there is 0.84 or else the 100%retrace in weekly (0.85)
if and once reach the 0.8220 again, will be depending on reasons... would be great if the reason will be a recover in GU near 1.62 or even near previous top, since i don't expect GU to breake >1.63 :nerd:
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  • #333,820
  • Jan 15, 2013 9:15am Jan 15, 2013 9:15am
Quoting _BBKing_
possible.
actually hourly chart is still showing strength. i'm looking for something like this, a possible rectangle rangy. if fail, target will be there, while above there is 0.84 or else the 100%retrace in weekly (0.85)
if and once reach the 0.8220 again, will be depending on reasons... would be great if the reason will be a recover in GU near 1.62 or even near previous top, since i don't expect GU to breake >1.63 :nerd:
in few words....
EU went up insanely while Gu still stuck near 1.60
if GU recover some 100-130 pips to get 6250 could mean to see Egbp tank near .82
if n once Gu will eventually meet that area will find some problems, clearly seen in 4h chart
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