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Cable Update (GBPUSD)

  • #338,441
  • Apr 5, 2013 3:22am Apr 5, 2013 3:22am
Quoting alterchristo
nice trade, very realistic target, I'll watch on level 50% of the fibo.
Thanks, yes the 50 fib is on my watch area.

Depends I guess on where we are at for NFP and the data released.

I will wait for PA to guide the way after that.

Techs tell me to watch 5450 and above with a 1st pit stop around 5340 if US data is crap
Attached Image (click to enlarge)
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Come with me if you want to live....
  • #338,442
  • Edited 3:51am Apr 5, 2013 3:40am | Edited 3:51am
London boys trying take for 5225/8 support for 58 or so(some pips above if breaks, even crazy 5317 level ) only !! ok any so before break 5194 / 84/ 77 again , so target remain at lows still with any strong up if .
fontu

eu & gu reacting like mads , may hold or not , no decision there . au , gold , ucad calm & quite still waiting for more soild something before joining them or not ! .
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #338,443
  • Apr 5, 2013 4:03am Apr 5, 2013 4:03am
U.s NFP etc day today - anything can happen ...risk on-risk off reaction -or- a more traditional reaction to the number (s) whatever they may be ? Time will tell - trade what you see - not what you think is always best advice and as a caveat to that - if you don't see anything - don't trade - it's not compulsory - choosing when we enter the market is perhaps our biggest advantage.

Yesterday's bullish hammer daily t/f candle was pretty definite and a 1st rejection of the previous 4hr/daily swing lo zone shown in daily pic below.....pullback off 5245 -yesterday's hi has seen some bids emerge at 5200. 1hr screenshot is below re potential sup/rbs.

The area to 5260 remains the near term upside obstacle and of course this is at the base of these previous weekly swing lo's that formed base of the previous weekly range - this being the 1st re-test of those lows (former support) from the underside following the downside breech to 4830 and the pullback to them,

G/L
Attached Image(s) (click to enlarge)
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ex member
  • #338,444
  • Apr 5, 2013 4:25am Apr 5, 2013 4:25am
Gold situation now , no great reaction in London open so far .prefer 1544 test to up again , so also others .after some progress if it true then to mini crush eu,gu !! A sharp test 5245 to do so !!
So 5184 -5245 random ranges in play now till breaks.
fontu
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #338,445
  • Apr 5, 2013 4:41am Apr 5, 2013 4:41am
Hey I ,really im often wrong just as we are all ,if you feel short it may well be
as pointed out by all the charts posted ,enjoying lots of charts an ideas,



Quoting inpatient
for example, i would normally be jumping all over shorts when we were at the high today being the top of a range that has held for a while, the fact i didnt shows i have maybe lost my faith in it holding so much (and Bones has for sure influenced me on this too, i respect his experience and judgement and he seems to be very confident of the market turning bullish)
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #338,446
  • Apr 5, 2013 4:49am Apr 5, 2013 4:49am
looks bulish to me ,maybe weekly hold up any higher this week ,but fits with monthly gbp
Attached Image (click to enlarge)
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #338,447
  • Apr 5, 2013 4:53am Apr 5, 2013 4:53am
Quoting Bones
looks bulish to me ,maybe weekly hold up any higher this week ,but fits with monthly gbp {image}
Yeah I agree, weekly looks bullish as well.. Things could be changing.. Looks like bullish follow through pattern on daily and weekly...
The way i see how the daily looks would keep me out of being short this time..
  • #338,448
  • Apr 5, 2013 4:59am Apr 5, 2013 4:59am
$ has held up well ,often things that look great take time mind
you can think fundi Ive tried but this is a big animal ,news comes out of woodwork that you could never know unless you had team on it as job
like a bank for instance
Attached Image (click to enlarge)
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #338,449
  • Apr 5, 2013 5:03am Apr 5, 2013 5:03am
THIS IS THE MASTERCHART FOR GBPUSD

The GBPUSD seems to have found a base at 1.4800 and is currently trading between the Masterchart support turned resistance at 1.5300 and 1.4800, the new support. Search FF for the post on Monthly Price Action Analysis (MPAA) for a better understanding of the GBPUSD price movement within a yearly trading cycle.

I attached the monthly and weekly charts to clearly illustrate where the price is. It is extremely difficult to succeed in this market if you don't understand the bigger picture.

Enjoy your day!


http://www.forexfactory.com/attachme...1&d=1364891767y http://www.forexfactory.com/attachme...1&d=1364891840
  • #338,450
  • Apr 5, 2013 5:11am Apr 5, 2013 5:11am
And, what is the monthly gbp range?

Quoting Bones
looks bulish to me ,maybe weekly hold up any higher this week ,but fits with monthly gbp {image}
  • #338,451
  • Apr 5, 2013 5:17am Apr 5, 2013 5:17am
Gbp LFx monthly is in range ,not quite sure what you mean ?


Quoting Maso
And, what is the monthly gbp range?
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #338,452
  • Apr 5, 2013 5:19am Apr 5, 2013 5:19am
forecasting like pros.
  • #338,453
  • Apr 5, 2013 5:22am Apr 5, 2013 5:22am
Quoting Articulate
THIS IS THE MASTERCHART FOR GBPUSD The GBPUSD seems to have found a base at 1.4800 and is currently trading between the Masterchart support turned resistance at 1.5300 and 1.4800, the new support. Search FF for the post on Monthly Price Action Analysis (MPAA) for a better understanding of the GBPUSD price movement within a yearly trading cycle. I attached the monthly and weekly charts to clearly illustrate where the price is. It is extremely difficult to succeed in this market if you don't understand the bigger picture. Enjoy your day! {image}y...
could you please send a bigger picture, thx

here is my view for today , the yellow line should be a strong support
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  • #338,454
  • Apr 5, 2013 5:25am Apr 5, 2013 5:25am
usd ,sell off yesturday
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #338,455
  • Apr 5, 2013 5:35am Apr 5, 2013 5:35am
Price found support at the topside of the breeched 4hr/daily ascending trend line following the pullback from 5245-yesterday's hi....5200 area the pullback lo.....now finding supply at the 1hr descending trend line and 1st 1/2 of the previous 1hr/4hr swing hi zone leading to yesterday's hi - this part of a wider previous swing hi on 4hr/daily leading to 5260...1hr pic below.

How strong are the bulls pre NFP ?

G/L
Attached Image (click to enlarge)
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ex member
  • #338,456
  • Apr 5, 2013 5:53am Apr 5, 2013 5:53am
Quoting Articulate
THIS IS THE MASTERCHART FOR GBPUSD The GBPUSD seems to have found a base at 1.4800 and is currently trading between the Masterchart support turned resistance at 1.5300 and 1.4800, the new support. Search FF for the post on Monthly Price Action Analysis (MPAA) for a better understanding of the GBPUSD price movement within a yearly trading cycle. I attached the monthly and weekly charts to clearly illustrate where the price is. It is extremely difficult to succeed in this market if you don't understand the bigger picture. Enjoy your day! {image}y...

very good charts.
  • #338,457
  • Apr 5, 2013 5:53am Apr 5, 2013 5:53am
GBPUSD:
For cable I suppose today is better to BUY if the price breaks the level of 1.52315. Targets of this bullish movement to my mind will be 1.52519.
  • #338,458
  • Apr 5, 2013 7:04am Apr 5, 2013 7:04am
the 100 ema in yellow seems to confirm the yellow suport
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  • #338,459
  • Apr 5, 2013 7:23am Apr 5, 2013 7:23am
Longs closed with NFD data about to be released. I will either regret this or be thankful I closed those positions.
  • #338,460
  • Apr 5, 2013 7:32am Apr 5, 2013 7:32am
Just my luck, still the right decision (said in a very bitter voice), could of easily gone the other way.
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