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Cable Update (GBPUSD)

  • #336,881
  • Mar 13, 2013 3:46am Mar 13, 2013 3:46am
Quoting Scorpion786
looking for a short around the 1.50 phycological area round number and all that what do you guys think ?
I'm in
  • #336,882
  • Mar 13, 2013 4:02am Mar 13, 2013 4:02am
Quoting Ill-b-back
A 4hr close (in 1hr 45 mins for me) below 4937 will be encouraging.
Wow even better. Very nice looking 4HR pinbar that closed red, but damn that 1HR looks all messed up.
Twitter: @zusch_ -- Preselecting trending pairs, stocks on a weekly basis.
  • #336,883
  • Mar 13, 2013 4:22am Mar 13, 2013 4:22am
I really do hope this 1hr candle looks nothing like this when it closes.
  • #336,884
  • Mar 13, 2013 4:49am Mar 13, 2013 4:49am
Quoting chazzle
take partial profit here to pay for the sl - it's now a risk free trade
ching!

Plus! Free bonus chart included (nb.doesn't fully work for trading one's own account)
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  • #336,885
  • Mar 13, 2013 5:01am Mar 13, 2013 5:01am
im coming

dont f$%$kwith meh positions
  • #336,886
  • Mar 13, 2013 5:08am Mar 13, 2013 5:08am
Hey people. Cable on my list today. Will be buying the pair if we'll get a pullback to ~1,4865. Weekly and ID range templates (#18,4) in action. Any thoughts? Chart.
Twitter: MrC_Forex ; Facebook: /pages/MrC-Forex/197693770247397
  • #336,887
  • Mar 13, 2013 5:17am Mar 13, 2013 5:17am
Quoting Mr.C
Hey people. Cable on my list today. Will be buying the pair if we'll get a pullback to ~1,4865. Weekly and ID range templates (#18,4) in action. Any thoughts? Chart.
GU H4

As I see it, your entry would constitute a 3rd attempt at that level plus a failure of 1.5 with a likelihood of seeing the next minor S/R at 1.48 on the way to 1.44 imo
Attached Image (click to enlarge)
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  • #336,888
  • Mar 13, 2013 5:24am Mar 13, 2013 5:24am
Hi,

I just shorted GBP at 1.4961
Reasons:
1) Gbp general trend is down
2) Current rise is unstable (makes deep pullbacks)
3) Divergence on 15 min chart
4) 1 min is overbought

Think Gbp will test previous low at 1.4921, so take profit is 1.4930
Stop loss is 1.4990

Analyst
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: Gbp_short1_March13.jpg Size: 122 KB
  • #336,889
  • Mar 13, 2013 5:29am Mar 13, 2013 5:29am
Quoting chazzle
GU H4

As I see it, your entry would constitute a 3rd attempt at that level plus a failure of 1.5 with a likelihood of seeing the next minor S/R at 1.48 on the way to 1.44 imo
Thanks man.
Twitter: MrC_Forex ; Facebook: /pages/MrC-Forex/197693770247397
  • #336,890
  • Mar 13, 2013 5:34am Mar 13, 2013 5:34am
From my view point if the momentum is right we may see up to between 4990-5040 before a retest of any type of lows.. Lets see..
I still need a trading break soon!!! "Loose some to win more" --Baher A.
  • #336,891
  • Mar 13, 2013 5:37am Mar 13, 2013 5:37am
Quoting Mr.C
Thanks man.
no probs - all the best mate
  • #336,892
  • Mar 13, 2013 5:38am Mar 13, 2013 5:38am
Quoting fx-analyst
Hi,

I just shorted GBP at 1.4961
Reasons:
1) Gbp general trend is down
2) Current rise is unstable (makes deep pullbacks)
3) Divergence on 15 min chart
4) 1 min is overbought

Think Gbp will test previous low at 1.4921, so take profit is 1.4930
Stop loss is 1.4990

Analyst
Did you check the H4 MACD?
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd_130313_h4.png Size: 57 KB
Twitter: MrC_Forex ; Facebook: /pages/MrC-Forex/197693770247397
  • #336,893
  • Mar 13, 2013 5:40am Mar 13, 2013 5:40am
Quoting Qu|cksilver
I have done alot of analysis since last friday and it shows cable can go up to 1.9033 maybe.. and i don't think today the price will hit that level because today not much news for gbp and usd.
sorry for a noob question but currently gbp/usd is 1.49 , where does 1.9033 come from ?
  • #336,894
  • Mar 13, 2013 5:42am Mar 13, 2013 5:42am
Here's what I see for what it's worth - price seems to be stalling. Shorted at 74.2 will add if goes to 90/00 area.
Attached Image (click to enlarge)
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  • #336,895
  • Mar 13, 2013 5:43am Mar 13, 2013 5:43am
Quoting fx-analyst
Hi,

I just shorted GBP at 1.4961
Reasons:
1) Gbp general trend is down
2) Current rise is unstable (makes deep pullbacks)
3) Divergence on 15 min chart
4) 1 min is overbought

Think Gbp will test previous low at 1.4921, so take profit is 1.4930
Stop loss is 1.4990

Analyst
Hi FX-A , couple of thoughts on your points:

1) general trend is down, yes
2)a market turn whether short or med/long term(we have yet to find out) after a strong move is usually going to be characterised by the type of PA you mention
3)momentum divergence as an accurate indicator is much more effective when backed up by PA confirmation ( look at the candles)
4)ignore overbought/oversold indications on such a small timeframe

all the best
  • #336,896
  • Mar 13, 2013 5:45am Mar 13, 2013 5:45am
Quoting desi99
sorry for a noob question but currently gbp/usd is 1.49 , where does 1.9033 come from ?
that analysis is a few weeks old, I believe
  • #336,897
  • Mar 13, 2013 6:44am Mar 13, 2013 6:44am
Chazzle, thank you for your thoughts.

Yes, I agree, 240 min divergence is bullish.
However this is short-term trade so 240 min is not so important.
I consider structure as correcting (not impulse - for those are using elliott waves)
In general, I expect GBP to make double bottom before strong rise (but my target is not double bottom, just correction).
If my analysis is correct, 1.4964 should hold for now.

Thank for your thoughts again.



Analyst


Quoting chazzle
Hi FX-A , couple of thoughts on your points:

1) general trend is down, yes
2)a market turn whether short or med/long term(we have yet to find out) after a strong move is usually going to be characterised by the type of PA you mention
3)momentum divergence as an accurate indicator is much more effective when backed up by PA confirmation ( look at the candles)
4)ignore overbought/oversold indications on such a small timeframe

all the best
Attached Image (click to enlarge)
Click to Enlarge Name: Gbp_short1_2_March13.jpg Size: 130 KB
  • #336,898
  • Mar 13, 2013 6:52am Mar 13, 2013 6:52am
Seems bull traders gave up on the Euro and are looking to cable now.. !
I still need a trading break soon!!! "Loose some to win more" --Baher A.
  • #336,899
  • Mar 13, 2013 7:32am Mar 13, 2013 7:32am
oh baby here it goes
  • #336,900
  • Mar 13, 2013 7:55am Mar 13, 2013 7:55am
seem like 1.4935 is e strong support now.
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