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Cable Update (GBPUSD)

  • #340,401
  • May 10, 2013 5:04am May 10, 2013 5:04am
Quoting fxtyrant
{quote} it still amazes me to see how people are trying to go long at 1.54 when in fact its only the beginning of the bear trend... do people not see a potential H&S pattern forming on the daily?
potential ... but if you are wrong we are at the bottom of the channel UP , so why not to try to buy here ?
  • #340,402
  • May 10, 2013 5:05am May 10, 2013 5:05am
Quoting mintfx
expect the price to hit 1.5380 tommorow. The GU is trading at extreme levels so keep an eye on RSI.
Sometimes I feel like . . im so good at predicting the price!
  • #340,403
  • May 10, 2013 5:05am May 10, 2013 5:05am
Quoting fxtyrant
{quote} it still amazes me to see how people are trying to go long at 1.54 when in fact its only the beginning of the bear trend... do people not see a potential H&S pattern forming on the daily?
No worries mate. Some traders try doing scalping but the environment is absolutely bearish. Yesterday, I posted that keep your short positions till we touch 1.52 area. When we can predict the cable is going to below 1.50 area.
  • #340,404
  • May 10, 2013 5:07am May 10, 2013 5:07am
Quoting -sonny-
{quote} potential ... but if you are wrong we are at the bottom of the channel UP , so why not to try to buy here ?
Because the risk reward ratio of holding my Shorts from 1.5580 is greater than if you long at 1.5400 when 1.52 is in sight. get it?
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #340,405
  • May 10, 2013 5:08am May 10, 2013 5:08am
Quoting nAVIN2007
{quote} will look at the video when i have more time..damnit..i missed an opportunity for the short
I cannot believe that you have loaded shorts
  • #340,406
  • May 10, 2013 5:08am May 10, 2013 5:08am
Quoting fxtyrant
{quote} it still amazes me to see how people are trying to go long at 1.54 when in fact its only the beginning of the bear trend... do people not see a potential H&S pattern forming on the daily?
potential ... but if you are wrong we are at the bottom of the channel UP , so why not to try to buy here ?

edit: oh and if you are right , we go back here for the right shoulder right ?
  • #340,407
  • May 10, 2013 5:12am May 10, 2013 5:12am
,tl not going to hold deeper pullback ,now you can see ,no going back ,you could see engulfing on tuesday ,think about it
may be its an art but you can read


Quoting baherhosni
{quote} yeah.. but the week is not over yet!
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #340,408
  • May 10, 2013 5:13am May 10, 2013 5:13am
Quoting fxtyrant
{quote} it still amazes me to see how people are trying to go long at 1.54 when in fact its only the beginning of the bear trend... do people not see a potential H&S pattern forming on the daily?
I could not see H&S or any likely on the daily...
  • #340,409
  • May 10, 2013 5:14am May 10, 2013 5:14am
aud has pull back situ but not against $
Attached Image (click to enlarge)
Click to Enlarge Name: audlfxdaily 10-5-13 2.png Size: 31 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #340,410
  • May 10, 2013 5:14am May 10, 2013 5:14am
Quoting fxtyrant
{quote} Because the risk reward ratio of holding my Shorts from 1.5580 is greater than if you long at 1.5400 when 1.52 is in sight. get it?
I understand you would like to see more profit and your analise is a possibility , but I don't have shorts right now, and this is a good area to buy with low risk.
  • #340,411
  • May 10, 2013 5:14am May 10, 2013 5:14am
Quoting -sonny-
{quote} potential ... but if you are wrong we are at the bottom of the channel UP , so why not to try to buy here ? edit: oh and if you are right , we go back here for the right shoulder right ?
okay heres the thing... if you buy now at 1.5400, your ultimate take profit will simply be 1.5580 now...
but for people who are short like me.... 1.52 is just the formation to the right shoulder, adn once right shoulder is formed, its a confirmation for GBPUSd to go down to 1.4850... did you not hear my video mention this?

soo tell me
if you had the option, will you prefer.
1) Long at 1.5400 for a retest of 1.5580 (180 pips)
or 2) Hold short at 1.5580 for a test of 1.5200 (380 pips) with potential pattern copletion at 1.4850 (730 pips)
tell me which one seems more interesting to you?
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #340,412
  • May 10, 2013 5:14am May 10, 2013 5:14am
You both have valid points but nothing is certain. I think just wait and watch the price action and hopefully enter at a reasonable position. Wait for the news to come out and follow the direction of the herd. if it goes down yes I agree, watch that H&S but if it goes up well may just break 156. Obviously not straight away. My bias is towards the GBP to continue up even if it goes down to 1.52. Happy trading


Quoting fxtyrant
{quote} Because the risk reward ratio of holding my Shorts from 1.5580 is greater than if you long at 1.5400 when 1.52 is in sight. get it?
  • #340,413
  • May 10, 2013 5:15am May 10, 2013 5:15am
Quoting ForexRatVN
{quote} I could not see H&S or any likely on the daily...
watch my video dude... Head at 1.56 Left shoulder at 1.53,
you dont want me to prove you wrong again do you?
not trying to brag but im pretty sure a lot of people went longing yesterday at the intraday sucker zone at 1.55 and got burned big time when i clearly said not to....
looking at the GBPUSD weekly id be scared shitless if i was a bull with that big bearish engulfing candle at resistanc rejection at 1.56...
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #340,414
  • May 10, 2013 5:24am May 10, 2013 5:24am
http://www.forexfactory.com/showthre...49#post2172249




Quoting Bones
,tl not going to hold deeper pullback ,now you can see ,no going back ,you could see engulfing on tuesday ,think about it may be its an art but you can read {quote}
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #340,415
  • May 10, 2013 5:26am May 10, 2013 5:26am
Quoting Bones
http://www.forexfactory.com/showthre...49#post2172249 {quote}
thing of a beauty
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #340,416
  • May 10, 2013 5:27am May 10, 2013 5:27am
i offers to wait till bernanki and his bla bla bla bullshits will vanish away(in 3 more hours) and then it will be more clearly
when GOD brings you a challenge he also gives you the power to deal with it
  • #340,417
  • May 10, 2013 5:29am May 10, 2013 5:29am
are you supprised the $ has broke high ?
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #340,418
  • May 10, 2013 5:30am May 10, 2013 5:30am
Quoting eitan1010
i offers to wait till bernanki and his bla bla bla bullshits will vanish away(in 3 more hours) and then it will be more clearly
true... i should also be more weary about bernanke but seriously thats the reason why im trading Daily charts.... bernanke will scare people who trade intraday but not on daily time frames and above
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #340,419
  • May 10, 2013 5:32am May 10, 2013 5:32am
its because only profit taking my friend


Quoting baherhosni
{quote} this is sooo funny buddy, in that first chart there it seems you don't even want to see the bull candles.. lol
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #340,420
  • May 10, 2013 5:34am May 10, 2013 5:34am
Quoting Bones
are you supprised the $ has broke high ? {image}
Not one fucking bit....
ive explained fundy wise....

Sustained Recovery in US Jobs and Housing Market (Pressure to Reduce or End QE) = Bullish Dollar
Interest rates in US being at its lowest point means interest rate can only go UP! = Bullish Dollar
Gold and other commodities losing strength against USD on USD repatriation! = Bullish Dollar
US Equities market showing exhaustin at record Highs signalling potential fall/pullback = Bullish Dollar...

tell me where do you see the dollar bears are at? lol
we are approaching into something called "The Beginning to the End of the Era of Free Money"
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
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