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Cable Update (GBPUSD)

  • #340,541
  • May 10, 2013 2:41pm May 10, 2013 2:41pm
Quoting fontu
Perfect weekly action & reach gu specially , levels of interests , close so far , correct some before further fall continues .Just breaking the top maintained for some time in vain & so continuation very likely than anything else & strong !! so can have enough time retake again . probable correction goes to gu 5426/46 limit , eu 3113, gold 1456/60 OK . happy weekend to all . fontu {image} {image} {image} {image}
thanks for the week's dessert

thankfully, i had an over achieving week in terms of banked profit target. so expecting a relaxed weekend.. although those weekends are usually boring especially that real action usually skips Monday. thinking may be we can see that little retest on fontu's chart on Monday and then continuation on Tuesday i am guessing..

anyway, have a nice weekend all..
I still need a trading break soon!!! "Loose some to win more" --Baher A.
  • #340,542
  • May 10, 2013 4:10pm May 10, 2013 4:10pm
Quoting TTTaha
i am recommending FXCM
Quoting fxtyrant
{quote} Worst broker ever... huge slippage and shady price feed....
Quoting TaoTrader
{quote} lol I could care less about slippage because that effects short term traders, and shady price feeds seem to happen with most brokers. I have heard or read bad things about almost every broker I've come across online, including all the ones on the website that lists the best online forex brokers
Hi Everyone,

The stats below show that FXCM clients are just as likely to receive price improvements (positive slippage) as they are negative slippage. We even provide our clients with tips on how to minimize negative slippage while maximizing price improvements.

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Jason
  • #340,543
  • May 10, 2013 4:44pm May 10, 2013 4:44pm
Quoting fontu
Perfect weekly action & reach gu specially , levels of interests , close so far , correct some before further fall continues .Just breaking the top maintained for some time in vain & so continuation very likely than anything else & strong !! so can have enough time retake again . probable correction goes to gu 5426/46 limit , eu 3113, gold 1456/60 OK . happy weekend to all . fontu {image} {image} {image} {image}
very good elliot counting
looking for investors . pm me
  • #340,544
  • May 10, 2013 5:02pm May 10, 2013 5:02pm
weekly I do think that looks like a solid set up ,depends on open and sun night ,bearish then I will believe
Sunday is when my weekly closes ,
under tl /pivot 15200 looks very achievable
even 1.5


Quoting Bones
fact is you can read now that longs ,there not going to win for a couple of days min dont worry I teach for free no PF , suscription free !! please go to bonesfx.co.uk.com lol {quote} {image}
Attached Image (click to enlarge)
Click to Enlarge Name: gbp usd w1 10-5-13.png Size: 31 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #340,545
  • May 10, 2013 5:14pm May 10, 2013 5:14pm
bouncing off that top tl looks very bearish to me
Attached Image (click to enlarge)
Click to Enlarge Name: gbp usd 10-5-13 d1.png Size: 28 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #340,546
  • May 10, 2013 5:34pm May 10, 2013 5:34pm
size matters ,close important as to how far we go if we go ,
Attached Image (click to enlarge)
Click to Enlarge Name: gbp usd w1 10-5-13 real bodies.png Size: 30 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #340,547
  • May 10, 2013 5:51pm May 10, 2013 5:51pm
worth spending time on w1 ,its the very best chart
for day trader
Attached Image (click to enlarge)
Click to Enlarge Name: gbp usd 29-3-13 w1.png Size: 42 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #340,548
  • May 10, 2013 6:15pm May 10, 2013 6:15pm
Well I am not going to try anymore to help. If I see something in here worth responding too then I will. Otherwise I will keep to my self. I tried to tell the people in here what to do. Their is a guy in here who even went out of his way to post videos on why and people still try to long it. Now we have a Friday close below 1.54. On sunday / monday we will get a bounce above 1.54 and everyone in here will be trying to long it then monday it will turn south and all the long will be asking why did I lose money next week. I will only look at it and say, they have not payed enough yet to learn how this work. If they stick with it enough they will learn through their pocket book. It's only time and money. If you have enough time you can master anything.
Quoting TaoTrader
{quote} Yea I know all about this. When I became a member of this forum in 2009 I used to constantly read through the forums and the things i read amazed me. People would ridicule me severely and they couldnt even read a basic Elliot Wave chart. Yet many of these people have a lot of vouchers, which are overrated to me. Anyway, I slowly started to realize it seems most people here are scalpers or day traders. Swing and position traders do not seem prominent on this site. All we can do is keep showing people the evidence and hopefully they will come...
  • #340,549
  • May 10, 2013 6:52pm May 10, 2013 6:52pm
Quoting eitan1010
{quote} point of view...history{image}
Actually Eitan, I see what you mean, good point

We broke up strongly through Monthly resistance in April off a very strong reversal pin candle in March.

Difference between now and the same time in 2010 (highlighted), is that the monthly did not closed above (resistance) back then.

However this time, we are now retesting that resistance as support (which as the chart shows, goes way back for well over a decade)

The monthly candle formation is still bullish while the weekly is bearish.

However, the weekly TL is not yet gone and we are only just now retesting the first area of weekly support.

Let's see how she plays out next week for confirmation of direction..

Have a great weekend mate
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpusdmonthly1.png Size: 34 KB
Click to Enlarge Name: gbpusdweekly2.png Size: 36 KB
Come with me if you want to live....
  • #340,550
  • May 10, 2013 7:06pm May 10, 2013 7:06pm
On a cleaner chart, we have a very strong bullish pin then thrust candle off a strong area of monthly support/resistance as highlighted.

Price action off support/resistance, a timeless strategy
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdmonthly3.png Size: 36 KB
Come with me if you want to live....
  • #340,551
  • May 10, 2013 7:23pm May 10, 2013 7:23pm
From one 50fib to another.

5220 area also strong and no reason it can't for a monthly TL as the one above.

Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpusdweekly.png Size: 33 KB
Click to Enlarge Name: gbpusdmonthly.png Size: 33 KB
Come with me if you want to live....
  • #340,552
  • May 10, 2013 8:52pm May 10, 2013 8:52pm
I don't see that as a line ibb really if it is its a minor cant see many drawing like that


Quoting Ill-b-back
{quote} Actually Eitan, I see what you mean, good point We broke up strongly through Monthly resistance in April off a very strong reversal pin candle in March. Difference between now and the same time in 2010 (highlighted), is that the monthly did not closed above (resistance) back then. However this time, we are now retesting that resistance as support (which as the chart shows, goes way back for well over a decade) The monthly candle formation is still bullish while the weekly is bearish. However, the weekly TL is not yet gone and...
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #340,553
  • May 10, 2013 8:54pm May 10, 2013 8:54pm
Twice divergences on H4, i hope there are some retrace next week
Attached Image
  • #340,554
  • May 10, 2013 9:52pm May 10, 2013 9:52pm
Quoting Bones
I don't see that as a line ibb really if it is its a minor cant see many drawing like that {quote}
Yeah I agree, I'm far more interested in the channel we broke out of in the last quarter of 2012 and have now retested in the first quarter of this year.

And March pin and April thrust through 52xx monthly resistance off older support as outlined on my chart.

That line was just something else that came into view.
Come with me if you want to live....
  • #340,555
  • May 11, 2013 2:09am May 11, 2013 2:09am
Quoting Ill-b-back
{quote} Actually Eitan, I see what you mean, good point We broke up strongly through Monthly resistance in April off a very strong reversal pin candle in March. Difference between now and the same time in 2010 (highlighted), is that the monthly did not closed above (resistance) back then. However this time, we are now retesting that resistance as support (which as the chart shows, goes way back for well over a decade) The monthly candle formation is still bullish while the weekly is bearish. However, the weekly TL is not yet gone and...
have agreat weekend too mate
c u next week
and thanks.
when GOD brings you a challenge he also gives you the power to deal with it
  • #340,556
  • May 11, 2013 3:27am May 11, 2013 3:27am
Quoting fxtyrant
{quote} Worst broker ever... huge slippage and shady price feed....

Which do you recommend (and please dont say FXPro!)?
  • #340,557
  • Edited 4:10am May 11, 2013 3:59am | Edited 4:10am
Shit, guys. You shouldn't be talking about all this possible bullish stuff. The matador will get upset.

For what it's worth, at least a retrace to the 38 is probably on the cards. Then again, you probably assumed that already as a distinct possibility.

But don't let the matador know - he'll get angry
  • #340,558
  • May 11, 2013 4:12am May 11, 2013 4:12am
Quoting Mpt
Shit, guys. You shouldn't be talking about all this possible bullish stuff. The matador will get upset. For what it's worth, at least a retrace to the 38 is probably on the cards. Then again, you probably assumed that already as a distinct possibility. But don't let the matador know - he'll get angry
I don't give a toss what that Matador says, Cables a buy and so is Euro

lol...
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurusdweekly.png Size: 30 KB
Click to Enlarge Name: eurusdweekly1.png Size: 32 KB
Come with me if you want to live....
  • #340,559
  • May 11, 2013 4:18am May 11, 2013 4:18am
Kites fly you know...

Attached Image (click to enlarge)
Click to Enlarge Name: eurusdh4.png Size: 38 KB
Come with me if you want to live....
  • #340,560
  • May 11, 2013 4:28am May 11, 2013 4:28am
Quoting Ill-b-back
{quote} I don't give a toss what that Matador says, Cables a buy and so is Euro lol... {image} {image}
Just don't say it a public forum. Keep it quiet.

But, seriously, it might possibly not retrace that far. I need that 400~500 or so pip fall for GJ from about 157, and i don't think that UJ's gunna give it.
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