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Cable Update (GBPUSD)

  • #335,601
  • Feb 13, 2013 5:44am Feb 13, 2013 5:44am
Quoting marco mp
H1 chart with divergence in MACd and stoch + PIN candle ...... readu to enter long if we get right signal breaking to of last pin candle !
WOW, that quote takes us back some.... no?
Ghost Rider - WWTBMD?
  • #335,602
  • Feb 13, 2013 5:46am Feb 13, 2013 5:46am
Quoting 100PipsADay
Take care brother and enjoy the rest of your day. I need to catch some zzz's now that it's almost 2 in the morning out here in Hawaii...
Hawaii?? Oh now I'm just JELOUS!!!. Have a cool drink for me buddy. Talk to ya later.
Ghost Rider - WWTBMD?
  • #335,603
  • Feb 13, 2013 5:47am Feb 13, 2013 5:47am
Quoting albchr
Hawaii?? Oh now I'm just JELOUS!!!. Have a cool drink for me buddy. Talk to ya later.
LOL Will do!

Later man.
  • #335,604
  • Feb 13, 2013 5:53am Feb 13, 2013 5:53am
Quoting fxtyrant
i am actually not hearing any real reason why the Selloff on GBPUSD...
I didn't see a good signal for selling too, except ugly tested Fibo level 38.2 (1.5675)
this is news harm
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  • #335,605
  • Feb 13, 2013 5:59am Feb 13, 2013 5:59am
Quoting albchr

News? What news? ... LOL
open a "Calendar" on the main page "Forexfactory.com" and you will see the list of news
  • #335,606
  • Feb 13, 2013 6:00am Feb 13, 2013 6:00am
QE is a waste of time in UK, raising interest rates would encourage saving and cash flows in would further recapitalize banks...growth will only occur if personal Consumption increases, but that will only happen if personal levels of debt are decreasing...but increasing national debt via infrastructure projects won't encourage growth either...it'd be mad to do more QE
  • #335,607
  • Feb 13, 2013 6:05am Feb 13, 2013 6:05am
Quoting 100PipsADay
Agreed. If/When this crash happens then it will be "risk off" so everybody, make sure you look at 2008 charts to get a good idea of WHAT HAPPENS to each currency pair in times of "crisis." I'm not saying it will be that bad but some currencies move down faster than others.

Hint: AUD is the biggest loser of them all therefore even going long EUR/AUD could be a very profitable move.

I think the two best ways to profit from major "risk off" environment is to SELL AUD/JPY and BUY EUR/AUD. Look at 2008 charts and see for yourselves.

I...
btw...
AUD could have top-ed 0360.
i'm looking for 0260 again.
scared to sell it against jpy...
also i don't believe in euro. so for the moment i leave EUR AUD and AUD JPY

but this thing (AUD USD) is not actually showing any kind of strength.
i will change my mind if i see strong bullish sign > 0400
90% of traders use TA, indicators and prediction
  • #335,608
  • Feb 13, 2013 6:08am Feb 13, 2013 6:08am
Quoting albchr
I really think 5300 (and below) is imminent at this point but, this IS forex and we'll just have to see.
1.52

problem is entering short now at this level!

will let price to bounce
90% of traders use TA, indicators and prediction
  • #335,609
  • Feb 13, 2013 6:09am Feb 13, 2013 6:09am
Quoting _BBKing_
btw...
AUD could have top-ed 0360.
i'm looking for 0260 again.
scared to sell it against jpy...
also i don't believe in euro. so for the moment i leave EUR AUD and AUD JPY

but this thing (AUD USD) is not actually showing any kind of strength.
i will change my mind if i see strong bullish sign > 0400
I know what you mean about selling against JPY... I am short AUD/JPY at the moment but this is a risky counter trend trade. Looking for a couple hundred pips though in the coming weeks.

Also have quite a few long EUR/AUD positions at the moment.

Congratulations on your AUD/USD shorts, I think you still have more room to the downside with this pair. 1.0260 is a good short term target
  • #335,610
  • Feb 13, 2013 6:09am Feb 13, 2013 6:09am
Quoting _BBKing_
1.52

problem is entering short now at this level!

will let price to bounce
i too am calling for 1.52 since last year. however not before a pullback... a pullback is expected in my charts
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #335,611
  • Feb 13, 2013 6:28am Feb 13, 2013 6:28am
Quoting _BBKing_
1.52

problem is entering short now at this level!

will let price to bounce
I want to see the 4 year tringle broken this week, and properly tested again to confirm path to 5300/5200 but yes, that's the ticket for me at this point brother, sell every pullback (bounce) there is until 5300. Have to see if 5580ish will hold as resistence now.
Ghost Rider - WWTBMD?
  • #335,612
  • Feb 13, 2013 6:32am Feb 13, 2013 6:32am
Quoting PskovFX
open a "Calendar" on the main page "Forexfactory.com" and you will see the list of news
LOL... I know where it is. I just don't pay attention to it other then to watch price around news time. But thank you for the tip!
Ghost Rider - WWTBMD?
  • #335,613
  • Feb 13, 2013 6:40am Feb 13, 2013 6:40am
Seems not ready for divergence in H1 .... we still need to wait but it should srrive coz RSI in overbought !

Quoting marco mp
H1 chart with divergence in MACd and stoch + PIN candle ...... readu to enter long if we get right signal breaking to of last pin candle !
  • #335,614
  • Feb 13, 2013 7:29am Feb 13, 2013 7:29am
Quoting 100PipsADay
Hey Tyrant,

This is why it is important to map out significant Support / Resistance levels on the Weekly chart before doing anything else. These PRICE levels are created by supply and demand during certain economic conditions. Supply and demand changes with each economic and political situation. What was once a PRICE level in a certain economic scenario may not be important or supported in a different economic situation.
could post your chart with weekly levels. I'm still confused regarding 1.55 level.

thanks
deep RoT is essential for everlasting happyness
  • #335,615
  • Feb 13, 2013 7:37am Feb 13, 2013 7:37am
Quoting X.work
could post your chart with weekly levels. I'm still confused regarding 1.55 level.

thanks
My apologies, I should have looked at the charts before saying 1.55 is a significant number because it really isn't! As far as I can tell nothing is stopping Cable from hitting 1.53.

Just need some sort of retrace to find a good place to short.
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  • #335,616
  • Feb 13, 2013 7:41am Feb 13, 2013 7:41am
OK, closed the 5675 short @ 5560 +115. Still holding the 5610 and covered @ 5600 for +10. Let'e see where she wants to go now.

Should be home in an hour or so, so I can finally see my charts after 2 days...

Darn good thing as these fat carpenter fingers just don't type on a phone too well.
Ghost Rider - WWTBMD?
  • #335,617
  • Feb 13, 2013 7:50am Feb 13, 2013 7:50am
Quoting 100PipsADay
My apologies, I should have looked at the charts before saying 1.55 is a significant number because it really isn't! As far as I can tell nothing is stopping Cable from hitting 1.53.

Just need some sort of retrace to find a good place to short.
Actually bro, and I'm working from memory here, I think I have 5450ish as a fairly good support on weekly? So if we continue to drop relatively unobstructed to there, I think we'd get a fair retrace maybe?
Ghost Rider - WWTBMD?
  • #335,618
  • Feb 13, 2013 7:55am Feb 13, 2013 7:55am
Quoting albchr
Actually bro, and I'm working from memory here, I think I have 5450ish as a fairly good support on weekly? So if we continue to drop relatively unobstructed to there, I think we'd get a fair retrace maybe?
Yep you're right, I didn't have that area drawn out but after zooming in it looks like it has been respected quite often in the past.

Just added it to my chart, thanks bro! Pretty good memory...
  • #335,619
  • Feb 13, 2013 7:58am Feb 13, 2013 7:58am
Quoting 100PipsADay
Yep you're right, I didn't have that area drawn out but after zooming in it looks like it has been respected quite often in the past.

Just added it to my chart, thanks bro! Pretty good memory...


I'm getting old but I'm glad it still works kind of "OK" so far.... ...
Ghost Rider - WWTBMD?
  • #335,620
  • Feb 13, 2013 8:07am Feb 13, 2013 8:07am
Quoting 100PipsADay
My apologies, I should have looked at the charts before saying 1.55 is a significant number because it really isn't! As far as I can tell nothing is stopping Cable from hitting 1.53.

Just need some sort of retrace to find a good place to short.
Thanks alot. and sweet dream
deep RoT is essential for everlasting happyness
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