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Cable Update (GBPUSD)

  • #335,701
  • Feb 14, 2013 6:28am Feb 14, 2013 6:28am
Tight into the the gap...a decent break down should take us to 50...in line with the DR..TWT
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Those that say do not know. Those that know do not say.
  • #335,702
  • Feb 14, 2013 6:30am Feb 14, 2013 6:30am
Welp, it seems the market is happy to wait for what I'm sure will be made up USD UC numbers and then the US talking heads...LOL
Ghost Rider - WWTBMD?
  • #335,703
  • Feb 14, 2013 6:57am Feb 14, 2013 6:57am
So, up? Or still down?
  • #335,704
  • Feb 14, 2013 7:35am Feb 14, 2013 7:35am
welcome to no mans land
Loosening is not an option
  • #335,705
  • Feb 14, 2013 7:44am Feb 14, 2013 7:44am
I guess I've be blessed with ONE of the most Brilliant strategy in history today (valentines day)....

1.5412 down GBPUSD falls.
  • #335,706
  • Feb 14, 2013 7:45am Feb 14, 2013 7:45am
Quoting e.trader
I guess I've be blessed with ONE of the most Brilliant strategy in history today (valentines day)....

1.5412 down GBPUSD falls.

ah you lucky bastard )
Loosening is not an option
  • #335,707
  • Feb 14, 2013 9:12am Feb 14, 2013 9:12am
Quoting albchr
Certainly possible but I still feel 5450ish first. I don't trade EG but have often thought I should. Very nice short you have on that one!

Maybe?
Attached Image (click to enlarge)
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Ghost Rider - WWTBMD?
  • #335,708
  • Feb 14, 2013 9:26am Feb 14, 2013 9:26am
hello everybody, I see GU quite boring today. my idea for the moment is on the chart
Attached Image
  • #335,709
  • Feb 14, 2013 9:41am Feb 14, 2013 9:41am
if my order will not be hit, I will be the unluckiest trader. Price didn't reach on five pips to my level.
  • #335,710
  • Feb 14, 2013 9:51am Feb 14, 2013 9:51am
Quoting PskovFX
if my order will not be hit, I will be the unluckiest trader. Price didn't reach on five points to my level.
Fear not. It will be hit. But sadly IMHO, it will then continue to fall.

Just my opinion and I could be wrong but except for maybe a small scalp, I wouldn't be placing any longs here with this kind of southern momentum. Good luck to you though...

I am however thinking of adding a short if it reaches 5530/50ish
Ghost Rider - WWTBMD?
  • #335,711
  • Feb 14, 2013 10:05am Feb 14, 2013 10:05am
Quoting albchr
Fear not. It will be hit. But sadly IMHO, it will then continue to fall.

Just my opinion and I could be wrong but except for maybe a small scalp, I wouldn't be placing any longs here with this kind of southern momentum. Good luck to you though...

I am however thinking of adding a short if it reaches 5530/50ish
Sure, it will continue to fall. I planned to play for retracement
1.5550 good level for adding, if the price will react on it
I'm out of market now
  • #335,712
  • Feb 14, 2013 10:13am Feb 14, 2013 10:13am
Quoting PskovFX
Sure, it will continue to fall. I planned to play for retracement
1.5550 good level for adding, if the price will react on it
I'm out of market now
Ghost Rider - WWTBMD?
  • #335,713
  • Feb 14, 2013 10:47am Feb 14, 2013 10:47am
Hello all,
I think this can be good to keep in mind when trading the Pound. Let me have your ideas/comments...

Here is an update on the Dollar Index trading plan on the daily timeframe aligned to what we could see in the Euro.
Pls, let me have your ideas and comments.

http://www.forexfactory.com/attachme...1&d=1360859352

The Dollar Index held the 79.90 extension long on the daily yesterday and it is currently trading the related support area at 80. This long setup with stop below 79.80, has two targets above at 80.70 (1st target) and then 81.30 (2nd target).

If the Dollar Index keeps trading in extension as it does in its moves higher (the Euro correspondingly moves lower in extension shorts) the next support (after/if traded second target at 81.30) would be at 80.90, with a stop (failure level) below 80.80. Such a further long setup could bring price to targets at 81.50 (1st target area) and then 81.80 (2nd and last target area).

If the Dollar Index gets to the 81.80 area that would be within the old level and area of resistance in the 81.70s. If price gets there and then starts moving lower, a confirmation of a new short would come with price below 81.50.

The violation of the indicated levels as/if we move higher, provide indication for the bearish scenarios/setups. I will use this analysis to help understanding when the current EUR/USD short will end.

Let me know the views on your charts.
Thank you.
"markets traded by programs/HFT offer a significant trading edge..."
  • #335,714
  • Feb 14, 2013 11:20am Feb 14, 2013 11:20am
Quoting PskovFX
hello everybody, I see GU quite boring today. my idea for the moment is on the chart
Do You use Market Profile ? Gotta watch those Monthly POC's (High Volume ) , they are like Mike Tyson on steroids ..They didn't even give me the chance to label my Chart ..lol ( the drop was quick ....)

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  • #335,715
  • Feb 14, 2013 11:40am Feb 14, 2013 11:40am
Posted by albchr
Thank you for the explanation. So in essence, this big event is confirming what I've seen in my EJ chart for roughly a week now. A big fall coming happen soon.

I think before it we will have to see a new top EJ
guys which trade EJ and GJ must have iron balls as these pairs have big amplitudes of movements, hundreds pips a day…
something rings? or it seemed to me?....
  • #335,716
  • Feb 14, 2013 11:49am Feb 14, 2013 11:49am
Quoting PskovFX
Posted by albchr
Thank you for the explanation. So in essence, this big event is confirming what I've seen in my EJ chart for roughly a week now. A big fall coming happen soon.

I think before it we will have to see a new top EJ
guys which trade EJ and GJ must have iron balls as these pairs have big amplitudes of movements, hundreds pips a day…
something rings? or it seemed to me?....
EJ is rather tame and I disagree with a "new top" before falling. BUT, ya never know...LOL

The Dragon (GJ) however is not for the faint of heart trader. Very easy to get burned when she decides to fly....
Ghost Rider - WWTBMD?
  • #335,717
  • Feb 14, 2013 11:53am Feb 14, 2013 11:53am
Quoting PskovFX
Posted by albchr
Thank you for the explanation. So in essence, this big event is confirming what I've seen in my EJ chart for roughly a week now. A big fall coming happen soon.

I think before it we will have to see a new top EJ
guys which trade EJ and GJ must have iron balls as these pairs have big amplitudes of movements, hundreds pips a day…
something rings? or it seemed to me?....
- OK Pskov were talking about this piece of news and how it could affect E/J movement:http://www.forexlive.com/blog/2013/0...urjpy-ma-news/

- Now, How about you tell us based on what we'll see a new high in E/J market?
  • #335,718
  • Feb 14, 2013 12:06pm Feb 14, 2013 12:06pm
Quoting albchr
EJ is rather tame and I disagree with a "new top" before falling. BUT, ya never know...LOL

The Dragon (GJ) however is not for the faint of heart trader. Very easy to get burned when she decides to fly....
Ummmm....yep! I think next week will be start of ...
Attached Image (click to enlarge)
Click to Enlarge Name: LFXJPY_EURLFX_WEEK.PNG Size: 68 KB
Ghost Rider - WWTBMD?
  • #335,719
  • Feb 14, 2013 12:14pm Feb 14, 2013 12:14pm
Quoting taomql4
Do You use Market Profile ? Gotta watch those Monthly POC's (High Volume ) , they are like Mike Tyson on steroids ..They didn't even give me the chance to label my Chart ..lol ( the drop was quick ....)

http://www.youtube.com/watch?v=TpHNmL9hs_I

Great chart as always...
Ghost Rider - WWTBMD?
  • #335,720
  • Feb 14, 2013 12:26pm Feb 14, 2013 12:26pm
Quoting Ziko9o8
- OK Pskov were talking about this piece of news and how it could affect E/J movement:http://www.forexlive.com/blog/2013/0...urjpy-ma-news/

- Now, How about you tell us based on what we'll see a new high in E/J market?

when I speak about new top EJ it is just my view of the market
there will be a new top or not time will show it is a question of several weeks
in picture you can see a fragment (monthly) chart EJ a blue small square - Fibo's broken level. That it was possible to speak about a serious reverse -- candle has to be closed on one of levels designated by arrows
Attached Image
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