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Cable Update (GBPUSD)

  • #334,161
  • Jan 18, 2013 3:58am Jan 18, 2013 3:58am
so i had a signal to short AUDUSD at Asian Open.... placed the trade, then went up with my mom to Shenzhen to enjoy some pampering massage, manicure and cheap shopping....
came back to HK to found out what happened to the AUDUSD trade i opened....
it looks like this now...
https://dl.dropbox.com/u/52561775/Fo...dusd.daily.gif

As for my fellow GBPUSD traders here....
my word of advice..... see where we are meeting support?? 1.59344 Weekly EMA55 (blue horizontal line), looks like a legit support... but if that baby breaks.....
i dont see any more line to keep GBPUSD supported....
https://dl.dropbox.com/u/52561775/Fo...pusd.daily.gif
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #334,162
  • Jan 18, 2013 4:06am Jan 18, 2013 4:06am
I think if Cable breaks D1 200EMA, then possible to go down till 1,583ish or maybe 1,565ish too. We will see.
  • #334,163
  • Jan 18, 2013 4:07am Jan 18, 2013 4:07am
i bought in here but will keep tight sl
Quoting fxtyrant
Okay now back to hk from china, finally got signal tocheck whats going on forex wise and i see gbpusd broke below that daily ema ive been shouting about 1.5950-ish since 1.63 signal to short..... All hell breaking out
Attached Image (click to enlarge)
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  • #334,164
  • Jan 18, 2013 4:10am Jan 18, 2013 4:10am
Quoting dsmith2269
i bought in here but will keep tight sl
be very careful... PA suggests further down... we are having lower lows created UNDER that 1.59344 support... and that is a very bad sign...
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #334,165
  • Jan 18, 2013 4:14am Jan 18, 2013 4:14am
i agree ..very tight sl ...lol
Quoting fxtyrant
be very careful... PA suggests further down... we are having lower lows created UNDER that 1.59344 support... and that is a very bad sign...
  • #334,166
  • Jan 18, 2013 4:21am Jan 18, 2013 4:21am
If people are interested to know exactly where i shorted... i shorted at the Yellow Dotted Crosshair.... see where i shorted? after the first bearish candle after the gap.... i opened on the 2nd candle open.... which is about 1.62518 as the line suggests....
i normally would aim for a 1st TP at EMA55 and it did touch.... and 2nd TP at EMA200... sad thing is... i got stopped out from the rebound at ema55 up to a high tf ema200 at 1.6172... so theres 70 pips profit? oh well.... i could've had a potential for 300 pip profit if i didnt move my SL too tight as the trade went in profit...

https://dl.dropbox.com/u/52561775/Fo...pusd.daily.gif
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #334,167
  • Jan 18, 2013 4:49am Jan 18, 2013 4:49am
Does anyone do any analysis of the longer term? I've been watching this wedge/pennant pattern formation on the weekly/monthly charts which is quite interesting. I'd like to know what you all think about the possible areas to look out for if/when the wedge pattern breaks.

I think it might be broken @ 1.63-1.65 for the upside, and @ 1.53-1.57 for the downside (dependant on timeframes), but I'm not sure.

Any thoughts?

Paradroid.
  • #334,168
  • Jan 18, 2013 4:56am Jan 18, 2013 4:56am
closed all position looking for a better price to get in..
keep the charts clean bryan

attached the trades i had

if the weekly closes around here next week likely big down, but cannot ignore this area.
Attached Image(s) (click to enlarge)
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  • #334,169
  • Jan 18, 2013 5:09am Jan 18, 2013 5:09am
Quoting nAVIN2007
closed all position looking for a better price to get in..
keep the charts clean bryan

attached the trades i had

if the weekly closes around here next week likely big down, but cannot ignore this area.
im trying my best yo... but last line of defense for the GBPUSD bulls is this 1.5933ish EMA55 weekly... if we close below... Bye Bye Bulls and down to 1.56-1.57....
and we also need to see how Monday if its gona gap around or not...
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #334,170
  • Jan 18, 2013 5:11am Jan 18, 2013 5:11am
Quoting Paradroid
Does anyone do any analysis of the longer term? I've been watching this wedge/pennant pattern formation on the weekly/monthly charts which is quite interesting. I'd like to know what you all think about the possible areas to look out for if/when the wedge pattern breaks.

I think it might be broken @ 1.63-1.65 for the upside, and @ 1.53-1.57 for the downside (dependant on timeframes), but I'm not sure.

Any thoughts?

Paradroid.

market prospect for cable i think had possibility for long to 1.6470 area but the economics dont fit well..look at the retail sales in a time where they should be better and the they are worse..fundamentally prospect is bleak.. and 1.53 is now prepared to break..it wasnt before because of no testing..now is different!..

i only exit my trades as the position were weak..and bounce up is something i cant ignore
  • #334,171
  • Jan 18, 2013 5:12am Jan 18, 2013 5:12am
Quoting fxtyrant
im trying my best yo... but last line of defense for the GBPUSD bulls is this 1.5933ish EMA55 weekly... if we close below... Bye Bye Bulls and down to 1.56-1.57....
and we also need to see how Monday if its gona gap around or not...

  • #334,172
  • Jan 18, 2013 5:14am Jan 18, 2013 5:14am
Quoting nAVIN2007

ahh the good old times when i was shouting for 1.52 for no reason lol.... sigh im growing up
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #334,173
  • Jan 18, 2013 5:18am Jan 18, 2013 5:18am
Quoting fxtyrant
ahh the good old times when i was shouting for 1.52 for no reason lol....
just must see the chart and make sure what u think is in sink with the chart..fundamentals are lagging indicators and technicals leading...so what u think takes time to develop..u were right in analysis..spot on

but from a technical trading point of view way of base

  • #334,174
  • Jan 18, 2013 5:29am Jan 18, 2013 5:29am
Downside breech of 2nd weekly ascending trend line iin last leg down of the 1hr/4hr/daily general opa downtrend....current daily lo @
2 fibs (38.2% 5263-6349/50%5489-6349) and 1st 1/2 prev 4hr sw lo zone...another strong bounce up from potential support which has been the charat=cter of this trend before the sellers sell the rally at a discount price...weekly candle looking v bearish so far - closes today..likely to be the 6th straight down day unless a big rally ?

4hr below doesn't show the 2 fibs mentioned above which are on my daily chart.

G/L
Attached Image (click to enlarge)
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ex member
  • #334,175
  • Jan 18, 2013 5:31am Jan 18, 2013 5:31am
Quoting CasperTrader
Trying a small long here.
Closing here. Will try again lower.
  • #334,176
  • Jan 18, 2013 5:41am Jan 18, 2013 5:41am
Quoting nAVIN2007
just must see the chart and make sure what u think is in sink with the chart..fundamentals are lagging indicators and technicals leading...so what u think takes time to develop..u were right in analysis..spot on

but from a technical trading point of view way of base

dont worry... i have a mentor in fundies, hes 40+ years old and ever since i inform him of the signals i get, he tells me if he thinks they are fundamentally fine trades....

and the benefit is he and i both enter the trades too.... so we both in a colaborated win win situation....

sometimes he tells me NO... when he says the fundy is going against the trade... if thats the case i dont take it...
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #334,177
  • Jan 18, 2013 5:57am Jan 18, 2013 5:57am
Quoting fxtyrant
dont worry... i have a mentor in fundies, hes 40+ years old and ever since i inform him of the signals i get, he tells me if he thinks they are fundamentally fine trades....

and the benefit is he and i both enter the trades too.... so we both in a colaborated win win situation....

sometimes he tells me NO... when he says the fundy is going against the trade... if thats the case i dont take it...
  • #334,178
  • Jan 18, 2013 6:30am Jan 18, 2013 6:30am
"Trading: the hardest easy money you're going to earn." -Mark Douglas.
  • #334,179
  • Jan 18, 2013 6:37am Jan 18, 2013 6:37am
Quoting CasperTrader
Closing here. Will try again lower.
I think 1.5912 is the next useful support. I am posting this because I am unsure why you would want to long this pair. As I am heavily short at the moment, it gives me the jitters. Maybe you could post a chart?
Gone to a better place
  • #334,180
  • Jan 18, 2013 6:45am Jan 18, 2013 6:45am
Weekly outlook ,,
consider now only half day trading left ,



Quoting Bones
Im thinking not
Attached Image (click to enlarge)
Click to Enlarge Name: gbp usd w1 18-01-13.png Size: 36 KB
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