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Cable Update (GBPUSD)

  • #337,481
  • Mar 21, 2013 5:04pm Mar 21, 2013 5:04pm
Yes, obviously, the cable is highly under the pressure toward hell below 1.48...

Quoting inpatient
some not on the list include Barclays, HSBC.

even the bears could do with this getting at least to 1.525 to see longs closed and shorts triggered.

longs will be capped at 1.53 and from there the only way is down.

if we break lower from here I think we struggle to break 1.50
  • #337,482
  • Mar 21, 2013 5:13pm Mar 21, 2013 5:13pm
Could have a familiar pattern(s) happening.

Idea for shorting if we get up there.

Important area on Monthly also.
Attached Image(s) (click to enlarge)
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  • #337,483
  • Mar 21, 2013 5:32pm Mar 21, 2013 5:32pm
Quoting Ill-b-back
Could have a familiar pattern(s) happening.

Idea for shorting if we get up there.

Important area on Monthly also.
I suppose the concern right now is what will give us the push above 1.52?

I don't see any fresh buyers if the majority of larger players are already in long (which is why we have arrived where we are) and the rest have pending shorts above 1.52. We are essentially still stuck in a stalemate. I thought the positive data from today might have pushed us there but so far all it has done is advance the range by 50 to 70 pips from 1.508 and 1.512 to where we are now

seemingly 1.5165 to 1.5185
Money never sleeps...
  • #337,484
  • Mar 21, 2013 5:37pm Mar 21, 2013 5:37pm
one potential is that tomorrow being Friday we may see some of the longs from 1.49 and lower take profit and start us falling.

My trouble with this is that without any fresh short positions (which would be generated by breaking 1.525)im not certain we would have enough to get through 1.50


For me this is bad since im looking at an entry long for a longer term trade and ideally I would like to get down to 1.47's

I will start buying with small lots below 1.50 but the real money for me is 1.47 and less
Money never sleeps...
  • #337,485
  • Mar 21, 2013 6:47pm Mar 21, 2013 6:47pm
Quoting inpatient
And maybe one of the biggest...

Morgan Stanley have an apparent $10M order at 1.5220 targeting 1.43
I can't help you a great deal fundy wise brother, I give it about as much attention as the weekly weather forecast and about as much respect as my countries Lying, Fraudulent, Athiest, Bisexual, adulterous leader

What made the market shoot up on last Thursdays solid US numbers

If I was to take a guess, I would say buyers started coming in at the 61.8 retrace and they have a target in mind, fundies or no fundies. Personally I think we did well to close above this level today considering yesterdays dogi at resistance.

What is important to me is that we have closed above late Febs resistance on the daily.

As for Banks (apparent) positions as you correctly labelled the information, I give that crock of shit even less respect than Julia "lying bitch" Gillard.

Can anyone tell me why on earth a bank would have the slightest interest in making their "TRUE" forex positions available to the masses?

I've asked this question a few times in different places but no one seems to be able to give me a reason.

Following their (apparent and published) positions here in FF news section and their shit accuracy, it's no wonder the banks are broke and we have a crisis. But they don't publish the truth. If they do, that means I'm a better trader than they are and that does not make any sense on any level.


It's nothing personal towards you at all inpatient, I have a lot of respect for your strategy sharing and logical outlook, just somethings have a history of setting me off. Check out some of my story posts for an idea.

lol...
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  • #337,486
  • Mar 21, 2013 7:29pm Mar 21, 2013 7:29pm
Wouldn't be surprised to find the BOE had been buying around the 1.485 levels. They have been know to discretely intervene. Mervin King was also jaw boning a week ago saying the recent fall in Sterling was unwarranted.
  • #337,487
  • Mar 21, 2013 7:50pm Mar 21, 2013 7:50pm
Quoting inpatient
Nothing personal taken my friend, i follow the COT Data and i have done alot of reading on Bank Flow. I asked myself the question last year 'What really moves the market' if 80% of transactions are banks trading like 100,000 lots at a time then it was important to find out as much as possible about what positions they have.

http://www.cftc.gov/marketreports/co...ders/index.htm
You could be right brother, I'm a bit cynical on some issues.

In the absence of any market hints at direction, I might just employ my contrarian media strategy on this one.
At the strong mention in the media of a British recovery based on these cooked numbers, I'll consider selling

If they give a specific trading tip, I'll double my trade size.
Come with me if you want to live....
  • #337,488
  • Mar 21, 2013 9:25pm Mar 21, 2013 9:25pm
Dollar index touched 10,450 again.

Which is an area it has seen supported previously.

Things could line up nicely if we get another push above 1.52 to hopefully this time get a better bounce down.
Money never sleeps...
  • #337,489
  • Mar 22, 2013 1:42am Mar 22, 2013 1:42am
Quoting kamifx
Be ready pair moves above 1.5192
Yesterday when the pair was running around 1.5155, suggested be ready to go above 1.5192( again some traders made mistake and posted maybe under 1.50, sorry to see that) any way this picture in H1 may be helpful pair at the end of Triangle in this T/F
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Don’t follow someone else’s trading advice blindly
  • #337,490
  • Mar 22, 2013 2:05am Mar 22, 2013 2:05am
If we close this week above last months close at 5161 the weekly will look bullish to me. Then I don't see why (tech wise), we can't retest last Mays close at 54, before the bears come back in
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  • #337,491
  • Mar 22, 2013 2:06am Mar 22, 2013 2:06am
my daily forecast for g-u chart. it bounce 5260 levels i think.

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  • #337,492
  • Mar 22, 2013 2:49am Mar 22, 2013 2:49am
Technical Analysis be acceptable when you consider 2 hints at least
- Dominant Trend ( Weekly and Monthly)
- Key Areas of swing during the week
As pair couldn't close above 1.5192 yesterday, you shouldn't expect it goes very far from this level and you have to expect to see swing
1.4998 - 1.5243

Now daily analysts must show their talent and experiences to post daily trading position.
Don’t follow someone else’s trading advice blindly
  • #337,493
  • Mar 22, 2013 4:32am Mar 22, 2013 4:32am
nice sell off would be good


Quoting Bones
usd bear set up
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #337,494
  • Mar 22, 2013 4:33am Mar 22, 2013 4:33am
I don't think that it will pass 1.528 any more. deep down from here.

Quoting inpatient
Dollar index touched 10,450 again.

Which is an area it has seen supported previously.

Things could line up nicely if we get another push above 1.52 to hopefully this time get a better bounce down.
  • #337,495
  • Mar 22, 2013 4:34am Mar 22, 2013 4:34am
Yes, indeed. The cable is highly under the downward pressure.

Quoting Bones
nice sell off would be good
  • #337,496
  • Mar 22, 2013 4:35am Mar 22, 2013 4:35am
Quoting Maso
I don't think that it will pass 1.52 any more. deep down from here.
As previously posted yesterday I am biased towards the short side. I have sold again at 5185 with a tp of 5100 no stop loss as I shall look to build on my short if it gets anywhere near 1.53
  • #337,497
  • Edited 5:02am Mar 22, 2013 4:39am | Edited 5:02am
I dont think cable is in downard pressure

Quoting Maso
Yes, indeed. The cable is highly under the downward pressure.
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #337,498
  • Mar 22, 2013 4:41am Mar 22, 2013 4:41am
Do you mean that it may reach near 1.53?

Quoting Thfc
As previously posted yesterday I am biased towards the short side. I have sold again at 5185 with a tp of 5100 no stop loss as I shall look to build on my short if it gets anywhere near 1.53
  • #337,499
  • Mar 22, 2013 4:42am Mar 22, 2013 4:42am
Quoting Bones
nice sell off would be good
Nice USD chart
Come with me if you want to live....
  • #337,500
  • Mar 22, 2013 4:44am Mar 22, 2013 4:44am
Here


Quoting Bones
I dont think cable is in donward pressure
Attached Image (click to enlarge)
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On-site guru & also FF member's' psychiatrist, when not drinking tea
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