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Cable Update (GBPUSD)

  • #338,141
  • Apr 2, 2013 1:10pm Apr 2, 2013 1:10pm
I do agree with you mate. This BIG FALL indicates further downward moves, not going up till next week.

Quoting A-speculator
i don't think so, when the current formation is like this.. what are you basing on mate?
  • #338,142
  • Apr 2, 2013 1:16pm Apr 2, 2013 1:16pm
i would be crazy to aim for a long after such a drop.
  • #338,143
  • Apr 2, 2013 1:23pm Apr 2, 2013 1:23pm
Quoting inpatient
RSi and Stoch at their most over sold level for a decent while and i have to ask myself if the news from the UK earlier was really as bad as this? Im surprised some of the bulls Bones, Zircon, FX Mindset etc are not here predicting a decent uptrend to counter this recent drop since im seeing its potential myself. Kills me to say it but Long from here until NFP.

am not here because of you lucky beer, haha.
well today what strong selling,enjoy guys, but the week still on ?
If my view is completely wrong , puff. fkg market.



OMG beer are so strong??
If skills could be acquired by watching, every dog would be a butcher. Turk
  • #338,144
  • Apr 2, 2013 1:24pm Apr 2, 2013 1:24pm
Quoting Maso
I do agree with you mate. This BIG FALL indicates further downward moves, not going up till next week.
normally, we will have 3days of rally and 2 days of retracement,

in this scenario, that might be true.. but who really knows right? just fasten your seatbelt.
  • #338,145
  • Apr 2, 2013 1:28pm Apr 2, 2013 1:28pm
another thing is, i would like to see other pairs, cross related pairs support this fall also..

the closest, i would like to see ucad rally, at least close today's candle above 0140 and continue rally tomorrow..
  • #338,146
  • Apr 2, 2013 1:30pm Apr 2, 2013 1:30pm
Quoting Bones
Hey Z


Oh buddy seems we r going deepr ??
If skills could be acquired by watching, every dog would be a butcher. Turk
  • #338,147
  • Apr 2, 2013 1:34pm Apr 2, 2013 1:34pm
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  • #338,148
  • Apr 2, 2013 1:45pm Apr 2, 2013 1:45pm
Quoting A-speculator
i don't think so, when the current formation is like this.. what are you basing on mate?
several thing , Like impatient I think 1.51 will stay as suport , at least until the big news, 1.51 it's also the 5 day low , when market stop exactly at the 5 low and dont go under it usally go back to the 5 day high ... 1.5240

also euro seems to not going more down and will probabably go up to 1.31 at least
  • #338,149
  • Apr 2, 2013 1:58pm Apr 2, 2013 1:58pm
Quoting fontu
So a start at an early perhaps now , that is probable crush , breaks down 5217 , 5186 confirmation & next waiting another confirmation 5176 for next probable bounce 5146, breaks there to next confirmation 5093 again to 5026 & others low as of previous formula. carry on market in correction , medium term ,that there should be another leg up , may not that strong as not taken the supports timely , rather moved in vain . another bailout may need that leg so soon ?? or final crush to be seen perhaps at next top . immediate move towards as far limit...
Hi Fontu, as i understand it's ew counting, i'm not so experienced with ew - does letter C related to A and B in the pic, or its totally different sequence?
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  • #338,150
  • Apr 2, 2013 1:58pm Apr 2, 2013 1:58pm
Quoting -sonny-
several thing , Like impatient I think 1.51 will stay as suport , at least until the big news, 1.51 it's also the 5 day low , when market stop exactly at the 5 low and dont go under it usally go back to the 5 day high ... 1.5240 also euro seems to not going more down and will probabably go up to 1.31 at least
not necessarily mate.. we are so close to 5100, and atm there are no exhaustion pattern yet above 5100 in 4h.. perhaps that support will be broken.. which will be retested again from below during asian.. imho.
  • #338,151
  • Apr 2, 2013 1:58pm Apr 2, 2013 1:58pm
This is what I posted in the morning but I think you didn't accept it

Now, it is starting falling again...

Attached Image (click to enlarge)
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  • #338,152
  • Apr 2, 2013 2:02pm Apr 2, 2013 2:02pm
Quoting Maso
This is what I posted in the morning but I think you didn't accept it Now, it is starting falling again... {image}
who do you direct this post to mate?
  • #338,153
  • Apr 2, 2013 2:04pm Apr 2, 2013 2:04pm
Those who have loaded longs...lol

Quoting A-speculator
who do you direct this post to mate?
  • #338,154
  • Apr 2, 2013 2:09pm Apr 2, 2013 2:09pm
some interesting banter these last few days on this thread.

All i am saying (which is the same as yesterday only during the bullish rally challenging the highs)

is until we some clear support broken (1.511-1.509)i can not share the bearish hysteria

It was exactly the same yesterday when i was simply stating to the bulls that we had not seen a new HH set and until it was i didnt share their outlook either.

Yes the fall from 1.525 was very quick but it has stalled and until we set a new LL then i will hold my opinion that we are simply ranging until NFP and the BOE decsions this week.

Overall, yes im longer term bearish as i think the pound will suck until summer but short term(this week) will depend on news. To some extent it seems that the bad economic data today has caused a slight pricing in of bets that the BOE will add stimulus. If this is taken away and the NFP is weak then it is still possible we will end the week much higher than where people are thinking.

Everything in moderation
Money never sleeps...
  • #338,155
  • Edited 2:22pm Apr 2, 2013 2:09pm | Edited 2:22pm
last week Fibo 50.0 break fail and make Hammer Candlestick. Now this week trend comes down strong

Weakly
Attached Image (click to enlarge)
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And H4 comes down, too

H4
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"Rule No.1: Never lose money. Rule No.2: Never forget rule No.1." — Warren
  • #338,156
  • Apr 2, 2013 2:17pm Apr 2, 2013 2:17pm
Quoting Maso
Those who have loaded longs...lol

Maso, i like you and have appreciated your strength of bearish conviction over the last few weeks where you have stuck to your guns.

However, remember just yesterday we were challenging the highs and there was no sign of the bears on this thread including you? Same as today the bears are back to celebrate the fall and the bulls have decided to play elsewhere

Now we share the same sentiment that is longer term bearish, however, this thing can go up and down another ten times before it makes a break outside of the ranges that have already been established.

Check out the trading style of Eurotrader on the Eu thread, his pyramid system accounts for ups and downs and somewhat relies upon the market simply meandering back and forth over time. He has been very successful with this.

I think everyone, bulls and bears need to just respect some of the back and forth of the market whilst it waits for direction.
Money never sleeps...
  • #338,157
  • Apr 2, 2013 2:23pm Apr 2, 2013 2:23pm
Good crush or so , correction down gold so far , near 1567/61 , very ok for next leg up towards 1700 but may fall to new lows also if not hold here , to 1517!

Similarly if gu can take the correction more down to 5026 breaks to 4981 to further 4919 ( more fast ) before the leg up with gold !
similarly , eu 2797 , 2755 hold or fall to 2650 before the action if all of them have the heart left to do actually or half done to crush for good . time will tell .


very tough hold all here or around perhaps , as seen from ucad analysis too.
fontu
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #338,158
  • Apr 2, 2013 2:23pm Apr 2, 2013 2:23pm
Not much of reaction at 5100, not good for bulls.. or perhaps some reaction at the end of US session!
  • #338,159
  • Apr 2, 2013 2:27pm Apr 2, 2013 2:27pm
Yes mate, you are right. I just wanted to hint about the strong bearish power of GBP. However, later it may end this trend and go up as a mad pair.

Quoting inpatient
Maso, i like you and have appreciated your strength of bearish conviction over the last few weeks where you have stuck to your guns. However, remember just yesterday we were challenging the highs and there was no sign of the bears on this thread including you? Same as today the bears are back to celebrate the fall and the bulls have decided to play elsewhere Now we share the same sentiment that is longer term bearish, however, this thing can go up and down another ten times before it makes a break outside of the ranges that have already been established....
  • #338,160
  • Apr 2, 2013 2:28pm Apr 2, 2013 2:28pm
Quoting inpatient
Maso, i like you and have appreciated your strength of bearish conviction over the last few weeks where you have stuck to your guns. However, remember just yesterday we were challenging the highs and there was no sign of the bears on this thread including you? Same as today the bears are back to celebrate the fall and the bulls have decided to play elsewhere Now we share the same sentiment that is longer term bearish, however, this thing can go up and down another ten times before it makes a break outside of the ranges that have already been established....
That is normal mate, its like fights between little brothers (no hard feelings), normally happen to new traders.. anyway chill up mate, take it as a positive critism which will drive u towards better analysis next time..
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