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Cable Update (GBPUSD)

  • #338,861
  • Apr 15, 2013 1:37pm Apr 15, 2013 1:37pm
Dozen of innocent people injured in Boston Explosion really sad
Don’t follow someone else’s trading advice blindly
  • #338,862
  • Apr 15, 2013 1:42pm Apr 15, 2013 1:42pm
Quoting A-speculator
not short term mate, it's a long term.. one day, we will see cable to trade in the 42xx area.. imho.
I want to see what the bulls do when we approach 1.52 - 1.5185. Between where we are now and 1.52 - 1.5185 it should be a fairly free reign for the bears based on where I have my zones. Although 1.525x may provide support as price found support there last week.
  • #338,863
  • Apr 15, 2013 1:46pm Apr 15, 2013 1:46pm
Quoting blobsaudio
I want to see what the bulls do when we approach 1.52 - 1.5185. Between where we are now and 1.52 - 1.5185 it should be a fairly free rain for the bears based on where I have my zones. Although 1.525x may provide support as price found support there last week.
make it ~5200-5220 mate as support.. if that's support broken, i think we might very well go towards 5050.. i'm looking forward to add to my short at about 5300.. maybe 5295 during asian tomorrow.. hopefully price manage to get there..
  • #338,864
  • Apr 15, 2013 1:58pm Apr 15, 2013 1:58pm
Quoting A-speculator
make it ~5200-5220 mate as support.. if that's support broken, i think we might very well go towards 5050.. i'm looking forward to add to my short at about 5300.. maybe 5295 during asian tomorrow.. hopefully price manage to get there..
That makes more sense, seeing as that area is first and the lows of the 5th. However just below 1.52 is 1.5185 which provided tough resistance a few weeks back, if price gets through 1.52 I would imagine 1.5185 will go as well.

The only zone I have after that is 1.5120.
  • #338,865
  • Apr 15, 2013 2:01pm Apr 15, 2013 2:01pm
Quoting blobsaudio
That makes more sense, seeing as that area is first and the lows of the 5th. However just below 1.52 is 1.5185 which provided tough resistance a few weeks back, if price gets through 1.52 I would imagine 1.5185 will go as well. The only zone I have after that is 1.5120.
mine is at about 5165 in 4h.. viewing it in daily making 5165 and 5200 is about the same.. so i consider it as one.. afterall it's just 35pips difference..
  • #338,866
  • Apr 15, 2013 2:13pm Apr 15, 2013 2:13pm
Quoting fontu
Ok but 5292 was an important level to try protect for a crazy due last leg up if protect then another range up possible crazily. broken & now similar level goes to 5250 & also 5239 . if also fail then again goes to 5034 & certainly 5026 target ^ breaks here too before jump towards present top as last leg up to down continue . gold is violent , weekly 200ma low even broken as smooth as silk . next 1306 support but all are bounce area now playing & I think once settle, currencies ( explosion > tanking/turmoils ) will be active . fontu
i can imagine what u see with gold and its possible impact on the currency market.. i feel its going to be a wild ride.. !!
I still need a trading break soon!!! "Loose some to win more" --Baher A.
  • #338,867
  • Apr 15, 2013 2:55pm Apr 15, 2013 2:55pm
we still have some support the 55 ma right now and the next will be the 100 ma at 1.5230 if broken we enter in the red zone and the 1.5180 last support
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  • #338,868
  • Apr 15, 2013 3:09pm Apr 15, 2013 3:09pm
Quoting A-speculator
make it ~5200-5220 mate as support.. if that's support broken, i think we might very well go towards 5050.. i'm looking forward to add to my short at about 5300.. maybe 5295 during asian tomorrow.. hopefully price manage to get there..
I agree, 5220 is a strong area to me also. Would love to see a nice bull run from there back above 54
Come with me if you want to live....
  • #338,869
  • Apr 15, 2013 3:32pm Apr 15, 2013 3:32pm
Quoting Ill-b-back
I agree, 5220 is a strong area to me also. Would love to see a nice bull run from there back above 54
i'm not expecting any significant bull run until perhaps to the end of May.
  • #338,870
  • Apr 15, 2013 3:36pm Apr 15, 2013 3:36pm
Your strategy is accordance with your positions but the cable and I would say all majors except for Yen are strongly bearish.


Quoting -sonny-
we still have some support the 55 ma right now and the next will be the 100 ma at 1.5230 if broken we enter in the red zone and the 1.5180 last support {image}
  • #338,871
  • Apr 15, 2013 3:37pm Apr 15, 2013 3:37pm
Quoting A-speculator
i'm not expecting any significant bull run until perhaps to the end of May.
Neither am I
Significant that is.

5260 area is important also on second look.
Nice PA around that major 50fib
Come with me if you want to live....
  • #338,872
  • Apr 15, 2013 4:27pm Apr 15, 2013 4:27pm
Quoting Maso
Your strategy is accordance with your positions but the cable and I would say all majors except for Yen are strongly bearish.
as you said before it depend on tomorow news
  • #338,873
  • Apr 15, 2013 4:49pm Apr 15, 2013 4:49pm
I think AU will lead the market direction today, let's see
  • #338,874
  • Apr 15, 2013 5:12pm Apr 15, 2013 5:12pm
Quoting -sonny-
we still have some support the 55 ma right now and the next will be the 100 ma at 1.5230 if broken we enter in the red zone and the 1.5180 last support {image}
do you have stops for those trades mate? can the account sustain a 1000pips of DD?
  • #338,875
  • Edited Apr 16, 2013 3:08am Apr 15, 2013 9:52pm | Edited Apr 16, 2013 3:08am
Quoting baherhosni
i can imagine what u see with gold and its possible impact on the currency market.. i feel its going to be a wild ride.. !!
Can be , up the hill or down .

Gold now starts the bounce towards 1539/53 or as far , with breaks 1367/77 , next 1427, next 1495.
then next explosion of currencies likely ,still to finish the correction for tanking before that . so likely can take a wild ride to further ranging up before break 5250/3239 or say 5200 towards 5630 , ok but that will be once for all & tank probable huge next . but normal wave pattern if follows , correct down towards 5026 to last leg up towards previous top or 6530 limit to decide tanking slowly or something different .
lets see . what waiting for currencies with now or soon gold up ./turmoils.
fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #338,876
  • Apr 15, 2013 11:50pm Apr 15, 2013 11:50pm
Quoting A-speculator
do you have stops for those trades mate? can the account sustain a 1000pips of DD?
I really don't think the market is primed for that kind of drop yet
Come with me if you want to live....
  • #338,877
  • Apr 16, 2013 12:07am Apr 16, 2013 12:07am
Quoting Ill-b-back
I really don't think the market is primed for that kind of drop yet
of course, not in 1 day mate.. i'm saying ultimately cable can get in the 42xx range, maybe in 1-2 months' time before a possible significant bullish run.. imho
  • #338,878
  • Apr 16, 2013 12:24am Apr 16, 2013 12:24am
Quoting A-speculator
of course, not in 1 day mate.. i'm saying ultimately cable can get in the 42xx range, maybe in 1-2 months' time before a possible significant bullish run.. imho
Yes I realise you didn't mean in 1 day, I just don't think we have topped out yet before the major drop we are both looking for.

I'm eyeing off 5460 or so.
Come with me if you want to live....
  • #338,879
  • Apr 16, 2013 12:31am Apr 16, 2013 12:31am
Quoting Ill-b-back
Yes I realise you didn't mean in 1 day, I just don't think we have topped out yet before the major drop we are both looking for. I'm eyeing off 5460 or so.
hard to say we will see another high when current daily doesn't support for any rally formation. on top of that, i think fiber has topped out at ~3140, and loonie has bottomed out.. swissy hasn't confirmed the upmove yet but prematurely we can say the move has started by several engulfing pattern in 4h..

current data seems doesn't support any significant rally atm imho.
  • #338,880
  • Apr 16, 2013 12:47am Apr 16, 2013 12:47am
Quoting A-speculator
hard to say we will see another high when current daily doesn't support for any rally formation. on top of that, i think fiber has topped out at ~3140, and loonie has bottomed out.. swissy hasn't confirmed the upmove yet but prematurely we can say the move has started by several engulfing pattern in 4h.. current data seems doesn't support any significant rally atm imho.
1 more daily 3rd wave push up.
I won't sell until bearish break and retest of 5225 area.

But I am trading longer term.
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Come with me if you want to live....
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