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Cable Update (GBPUSD)

  • #339,221
  • Apr 22, 2013 1:59pm Apr 22, 2013 1:59pm
Quoting J.Clinton
May not see 1.5180 or lower before seeing 1.5270 or 1.55
1.527 shorts cleared, are we going to 1.55?
Bears on 1.53, a clearance would turn control to Bulls.
Trade according to current market condition, not what you think would be.
  • #339,222
  • Apr 22, 2013 2:03pm Apr 22, 2013 2:03pm
Quoting J.Clinton
{quote} 1.527 shorts cleared, are we going to 1.55? Bears on 1.53, a clearance would turn control to Bulls.
A little early to say...
  • #339,223
  • Apr 22, 2013 2:05pm Apr 22, 2013 2:05pm
[quote=Maso;6625826]Regardless of what is happening with Gold, both cable and fiber are bearish. Remember that Gold had a massive fall. {quote}[/quot]
ok butstill correction in place . Gu tanked halfway, next followed by gold but the same magnitude eu not yet , next time it should do I think , eu 1.2000.
good thing that gold feeling nervous at this highs , midway it should & not 1392 just 1418 & 14 breaks van have the first signal of the crush likely , at least 1350 in a stack .

eu , gu still following perfectly morning views, now go little up to facilitate smooth fall if all ok .next day should be the start or I think, this night and not to go one step ahead the market , let do first to the firing level reconfirm /retest to join for long time .


fontu
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #339,224
  • Apr 22, 2013 2:09pm Apr 22, 2013 2:09pm
1.5277 weekly pivot.short @1.5275 sl 1.5325 tp 1.5150
  • #339,225
  • Apr 22, 2013 2:24pm Apr 22, 2013 2:24pm
[quote=eitan1010;6626568]
Quoting aftatech
Pls who can tell how far this poor us data can drive gu up?[/quote i can tell u that pa is very poor today(40 pips range +/-) and i am personally stay out..



collect my 40 pips as i said....
when GOD brings you a challenge he also gives you the power to deal with it
  • #339,226
  • Apr 22, 2013 2:26pm Apr 22, 2013 2:26pm
Quoting taylank
1.5277 weekly pivot.short @1.5275 sl 1.5325 tp 1.5150
Welcome bro. I already got a short from 5260. Should have waited for 5277 tough.
  • #339,227
  • Apr 22, 2013 3:00pm Apr 22, 2013 3:00pm
Quoting fx83
{quote} Welcome bro. I already got a short from 5260. Should have waited for 5277 tough.
Hi bro.I am still at short and wait until 5150.What is your sl?
  • #339,228
  • Apr 22, 2013 3:35pm Apr 22, 2013 3:35pm
Quoting taylank
{quote} Hi bro.I am still at short and wait until 5150.What is your sl?
SL: 5335

I hope asia will not pop it up. I think its a bad idea to keep this trade open during asia session, but I'm already -30 pips, so ..
  • #339,229
  • Apr 22, 2013 3:46pm Apr 22, 2013 3:46pm
I'm hoping this will go up to 1.5350
  • #339,230
  • Edited 4:29pm Apr 22, 2013 3:46pm | Edited 4:29pm
Quoting 5percent
on the bigger picture, if 1.5200/10 [23.6] holds, it will re-test 38.2 and 61.8 of daily chart. There's both buying and shorting opportunity. I prefer long if its on daily's entry and targets, as 23.6 acts as my support with small stop loss. Intra-day, still going with fibonacci range or trend on hourly and 4hourly.
Check out the recent's daily chart support/demand zone.

That falls in 1.5214. 1.5217, the lowest i got today was 1.5210 area, which is more or less a spike than a breakout as there wasn't much volatility to drive price down on a Monday without much fundamental and volume, as tentatively if a breakout happens, we should have a support turn resistance minimum and price would have traded down into 1.5199 and under zone to invalidate the support/demand zone of shadow area.

And just nice 1.5200/10 is the confluence of my 23.6 zone of Fibonacci Swing trading, which should acts as a support bounce as long price don't close under there.

Long on demand have played out nicely so far. Last final support on daily is 1.5205, Sell stops under 1.5200 are still valid on the break of support zone to test 0.0 @ 1.4830 base or a higher lo @ 1.4970.

If not there are still support on 1.5180/1.5150/1.5110/1.5080/1.5030. Before 1.4970.

Always consult the bigger time frame prior to smaller time frame for entry signal as smaller time frame are more prone to changes and signal tend to invalid quicker upon price moving to another target, for lesser data to compute and analyze if there's a range in play of support/resistance, or a trend trading on breakout of selling lo and buying hi,

Quote
On the side note, USDJPY have tested the zone 100 twice, the 3rd attempt will be fulfilled with buys stop above 100 to be triggered likely, as offer's volume will be threaten to exit on trailing stops, and stop loss buy orders above. Those options, futures etc will also be stopped out on key level of 100, this will also likely to cause surge across other yen pairs like EJ and GJ which may also lend some strength to GBPUSD and EURUSD.

The strength that could be seen is not because of USD's weakness but because of JPY's getting trashed. Key break of 100, will likely to see another rampage of 500-1000 pips move, unless 100 is well contained.
  • #339,231
  • Edited 4:47pm Apr 22, 2013 3:52pm | Edited 4:47pm
Quoting J.Clinton
{quote} 1.527 shorts cleared, are we going to 1.55? Bears on 1.53, a clearance would turn control to Bulls.
The main would be current lower Hi @ 1.5370/80 area of last's Friday which sent price back to 1.5210 today, if that zone is cleared by bull price action over-lapped than a breakout from 1.5415 can be in play very soon, with the help of buy stops, its possible to catch it more safely then buying near resistance's level. A break of resistance to confirm a breakout would be a safer approach.

I received my buy signal from demand zone with harmonics and demand buying, hour 4 proven to be strong currently, as EMA has intersected @, a move up to 1.5305 will confirm this to challenge 1.5345/80 zone of last 4 hour's bear on that area above.

Upon RSI above 60, and above black line MA 50 SMA, will confirm the bull out look to challenge top, a reject off 50SMA will send price back down.

If price closed under 1.5262, bull outlook will be low as couldn't resist 1.53. Trailing stops safer to 1.5260 or hedge @ 1.5290 semi.

Quote
When there's no more lower hi, but higher lo, an uptrend will prevail very soon, just like why trend line exist, TRADE WHAT WE SEE. Though prone to incoming fundamental's farts and tweets, always trade what we see
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  • #339,232
  • Apr 22, 2013 4:02pm Apr 22, 2013 4:02pm
I expected GU to test the weekly support and bounce back. Now it didnīt, but I am not convinced by the bull momentum neither. I am staying out with a bearish bias.
  • #339,233
  • Apr 22, 2013 4:45pm Apr 22, 2013 4:45pm
Here is my gbpusd short !
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  • #339,234
  • Apr 22, 2013 4:52pm Apr 22, 2013 4:52pm
we are inside of the triangle of Bermuda everything can happen , I will wait until we get out
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  • #339,235
  • Apr 22, 2013 5:11pm Apr 22, 2013 5:11pm
Quoting -sonny-
we are inside of the triangle of Bermuda everything can happen , I will wait until we get out {image}
i will further place buy stops after that last's lower hi on your upper tl.

If usdjpy can crash 100, yen will drop for another 500-1000 likely, and this will give strengths to other yen pairs like gj and ej, indirectly gu and eu.

100 tested twice so far, not breached, twice offers swing it down, 3rd time likely to breach as options, futures etc will be trailing stops and stop loss buy orders will likely to be implement, still i am skeptical as market might be positioning for a sell in may trade. Still waiting for monthly close, and moving my trailing to avoid marrying any trades before may.
  • #339,236
  • Apr 22, 2013 5:56pm Apr 22, 2013 5:56pm
Quoting 5percent
{quote} The main would be current lower Hi @ 1.5370/80 area of last's Friday which sent price back to 1.5210 today, if that zone is cleared by bull price action over-lapped than a breakout from 1.5415 can be in play very soon, with the help of buy stops, its possible to catch it more safely then buying near resistance's level. A break of resistance to confirm a breakout would be a safer approach. I received my buy signal from demand zone with harmonics and demand buying, hour 4 proven to be strong currently, as EMA has intersected @, a move up to...
I Agree. If I find a bull momentum on 1.5305(61.8% Fibo), will enter Long Tp 1.5410 Sl 1.5260(1.5270 Bull momentum begun, first resistance from 1.5205)
1.5350 resistance may hold, but from there will have free move to 1.5410. Don't think 1.5370/80 will hold anymore.
Probably because of Buy stops like you said, same if 1.5410 break(don't think today), we will see a move to 1.55
Trade according to current market condition, not what you think would be.
  • #339,237
  • Apr 22, 2013 6:08pm Apr 22, 2013 6:08pm
Quoting -sonny-
we are inside of the triangle of Bermuda everything can happen , I will wait until we get out {image}
I believe you are missing most of the bullish move if you long there. Longing 1.5305 safer than 1.535(middle of road to 1.541). Would add a trailing stop there rather than an entry point.
Trade according to current market condition, not what you think would be.
  • #339,238
  • Apr 22, 2013 6:09pm Apr 22, 2013 6:09pm
Are you referring to 1.5355 as lower high on H4 ?






Quoting 5percent
{quote} i will further place buy stops after that last's lower hi on your upper tl. If usdjpy can crash 100, yen will drop for another 500-1000 likely, and this will give strengths to other yen pairs like gj and ej, indirectly gu and eu. 100 tested twice so far, not breached, twice offers swing it down, 3rd time likely to breach as options, futures etc will be trailing stops and stop loss buy orders will likely to be implement, still i am skeptical as market might be positioning for a sell in may trade. Still waiting for monthly close, and moving...
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We cannot direct the winds but we can adjust our sail.
  • #339,239
  • Apr 22, 2013 9:10pm Apr 22, 2013 9:10pm
Short since 1.5285 with a nice size intra-day position. Looking to close the position at 1.5255 with a nice profit
"If you won't risk the usual, you'll have to settle for the ordinary."
  • #339,240
  • Apr 22, 2013 9:11pm Apr 22, 2013 9:11pm
Quoting livethedream
Short since 1.5285 with a nice size intra-day position. Looking to close the position at 1.5255 with a nice profit
i hope so
Trade with passion
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