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Cable Update (GBPUSD)

  • #336,041
  • Feb 20, 2013 11:16am Feb 20, 2013 11:16am
After breaking 5230 following short towards next 5093 to even breaks towards 4444 & dn next !! . All then tanking blind folded , hope not though much this week alone.
fontu

http://www.forexfactory.com/showthre...50#post6461450
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #336,042
  • Feb 20, 2013 11:24am Feb 20, 2013 11:24am
Quoting Davit
got stopped out -20pips
Did not expect such drama
It was a bit much..LOL


Quoting albchr
It could certainly extend to the 60's or 30's bro. In fact hell, it could crash right through it all....LOL

That said, what gives me "hope" the range will hold are the levels being approached on the indexes. Will they turn? Or keep going?
Let's see where it goes from here.
Attached Image (click to enlarge)
Click to Enlarge Name: USDLFX_GBPLFX_WEEKLY.PNG Size: 67 KB
Ghost Rider - WWTBMD?
  • #336,043
  • Feb 20, 2013 11:32am Feb 20, 2013 11:32am
Quoting inpatient
This is a nice chart and gives a clear indication as to the current level of importance, not a bad risk reward for shorts here and it could see a large ride down over the first quarter of 2013.

Good luck all,

Short from here on both pound and Euro. No Stop Loss as i have sufficient to cover it in account regardless.

1.625 pound targetting 1.54
1.317 Euro targetting 1.22

Target is maybe 2/3 months away.

Peace and prosperity to you all and good luck for 2013....
Nice start to the year for me with cable....

Long from here on the pound but im left stranded with the euro, likely to close the Euro trade if i get to BE.

Good luck guys as always!
Money never sleeps...
  • #336,044
  • Feb 20, 2013 11:40am Feb 20, 2013 11:40am
Quoting fontu
After breaking 5230 following short towards next 5093 to even breaks towards 4444 & dn next !! . All then tanking blind folded , hope not though much this week alone.
fontu

http://www.forexfactory.com/showthre...50#post6461450

I agree buddy. If today closes below 5230 we could be in for some serious tanking here.
Ghost Rider - WWTBMD?
  • #336,045
  • Feb 20, 2013 11:44am Feb 20, 2013 11:44am
GBP/USD seems very obedient with its movements of trending. Unlike eur/usd or aus/usd, which can pull back and make confusion. GBP is really one straight horse.

selling s and buying r is good for this pair.

for long positions, its important that this pair closed above 1.5300 for the week. Even if this pair is heading south, i still think there is pull back to 1.5413 minimum, and 1.5570 based on weekly and daily tf.
  • #336,046
  • Feb 20, 2013 11:47am Feb 20, 2013 11:47am
Quoting inpatient
Nice start to the year for me with cable....

Long from here on the pound but im left stranded with the euro, likely to close the Euro trade if i get to BE.

Good luck guys as always!
NICE!! on GU
Ghost Rider - WWTBMD?
  • #336,047
  • Feb 20, 2013 11:54am Feb 20, 2013 11:54am
dam.
when in 2015 pound will be rising, i bet i will come here and find people selling.
90% of traders use TA, indicators and prediction
  • #336,048
  • Feb 20, 2013 11:57am Feb 20, 2013 11:57am
Quoting 5percent
GBP/USD seems very obedient with its movements of trending. Unlike eur/usd or aus/usd, which can pull back and make confusion. GBP is really one straight horse.

selling s and buying r is good for this pair.

for long positions, its important that this pair closed above 1.5300 for the week. Even if this pair is heading south, i still think there is pull back to 1.5413 minimum, and 1.5570 based on weekly and daily tf.
the thing can be going to stabilize somewhere between 1.40 and 1.50!
pullbacks?
possible.
first... let price to stabilize m1 to h4 chart. then maybe a pullback in daily weekly can appear.
just my opinion of course
90% of traders use TA, indicators and prediction
  • #336,049
  • Feb 20, 2013 12:04pm Feb 20, 2013 12:04pm
Quoting _BBKing_
the thing can be going to stabilize somewhere between 1.40 and 1.50!
pullbacks?
possible.
first... let price to stabilize m1 to h4 chart. then maybe a pullback in daily weekly can appear.
just my opinion of course
it already broken its recent 2-3 year's low, can be real shaky. No doubt there's no bottom when risk and qe is in play.

i will see this's week closing for clearer direction if i choose to long for swing
  • #336,050
  • Feb 20, 2013 12:05pm Feb 20, 2013 12:05pm
We just hit the Fib 61.8 at 1.5193 for a move from week of May 17th, 2010 to April 25, 2011. If it overextends, the next target maybe the trendline shown in chart.
Attached Image (click to enlarge)
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  • #336,051
  • Feb 20, 2013 12:09pm Feb 20, 2013 12:09pm
Quoting inpatient
Nice start to the year for me with cable....

Long from here on the pound but im left stranded with the euro, likely to close the Euro trade if i get to BE.

Good luck guys as always!
Nice to see you mate

Damn, closed my shorts out a couple of hours ago, only to see this
Come with me if you want to live....
  • #336,052
  • Feb 20, 2013 12:15pm Feb 20, 2013 12:15pm
Quoting inpatient
Nice start to the year for me with cable....

Long from here on the pound but im left stranded with the euro, likely to close the Euro trade if i get to BE.

Good luck guys as always!
Shoot, just noticed you shorted at 6250
Come with me if you want to live....
  • #336,053
  • Feb 20, 2013 12:26pm Feb 20, 2013 12:26pm
Quoting 5percent
it already broken its recent 2-3 year's low, can be real shaky. No doubt there's no bottom when risk and qe is in play.

i will see this's week closing for clearer direction if i choose to long for swing
yeah better next week in this case.
anyway this area will not surely be that much easy for bears......
i also think on a correction!
problem is that i'm waiting it since price was in 1.55 area!
and still no giving any kind of min sign for a long pos.....

scary!!

meanwhile.. i'm starting to think where will be printing EU by end of the week.
1.29?
90% of traders use TA, indicators and prediction
  • #336,054
  • Feb 20, 2013 12:46pm Feb 20, 2013 12:46pm
My trading strategy is very simple , I am waiting for the trend to be broken or engulfing candle after touching the trend line " daily or weekly " and i am combining with the fundamentals . Then i open my position. And according to my simple strategy i am shorting the pound @ 1.55110 , my first target @ 1.5000 my stop loss @1.5650
  • #336,055
  • Feb 20, 2013 2:20pm Feb 20, 2013 2:20pm
It wouldn't surprise me to see 5280ish area cap any retrace, before heading downtown...

(Watching PA).
Attached Image(s) (click to enlarge)
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Come with me if you want to live....
  • #336,056
  • Feb 20, 2013 3:29pm Feb 20, 2013 3:29pm
Quoting Ill-b-back
It wouldn't surprise me to see 5280ish area cap any retrace, before heading downtown...

(Watching PA).
Doesn't look like it will even make that.
  • #336,057
  • Feb 20, 2013 5:07pm Feb 20, 2013 5:07pm
back to gfc levels 1.40x soon
  • #336,058
  • Feb 20, 2013 6:05pm Feb 20, 2013 6:05pm
Quoting Ill-b-back
Shoot, just noticed you shorted at 6250

Took some advice from a wise man from down under and im just playing it safe with long term swing trades. Im back in now at 1.523 looking to ride her back up to the 63's


got tired of staring into my screen 24/7 (well actually it was the wife that got tired of me doing it).

Good to hear from you too buddy, much respect
Money never sleeps...
  • #336,059
  • Feb 20, 2013 7:29pm Feb 20, 2013 7:29pm
Quoting inpatient
Took some advice from a wise man from down under and im just playing it safe with long term swing trades. Im back in now at 1.523 looking to ride her back up to the 63's


got tired of staring into my screen 24/7 (well actually it was the wife that got tired of me doing it).

Good to hear from you too buddy, much respect
Very nice to see you back mate

By the sounds of things Inpatient, we have even more in common than I thought.

I can't ignore that tail on the 1 hr

I am long at exactly 5230 to the pip also, but just looking for 5310 conservatively.

5420-30 looks like a pretty tough mofo to me. If we get up there, could be a good place to go to BE or something on your long. I now think there is a half decent chance we can get back up there today, but will look to short if we do.

63 looks very hard to me from here, I'm waiting until next week before thinking of considering any longer term buys.

Swings are much less stressful I agree

Nice to see some volatility back, nearly 260 pips top to bottom yesterday

Take care brother
Attached Image(s) (click to enlarge)
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Come with me if you want to live....
  • #336,060
  • Feb 20, 2013 9:13pm Feb 20, 2013 9:13pm
Not looking good
Attached Image (click to enlarge)
Click to Enlarge Name: gu84.gif Size: 10 KB
Come with me if you want to live....
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