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Cable Update (GBPUSD)

  • #340,581
  • May 11, 2013 8:10am May 11, 2013 8:10am
lol you know ibb I think it will bounce ,but also the monthly will close looking bearish ,in the next time we go lower ,but I guess we must wait for new changes


Quoting Ill-b-back
But just trade day by day {image}
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #340,582
  • Edited 8:29am May 11, 2013 8:10am | Edited 8:29am
usdx , jpy and aussie futures
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not euphoria follower
  • #340,583
  • May 11, 2013 8:11am May 11, 2013 8:11am
let see how q2 candle closing first........
Quoting Bones
lol you know ibb I think it will bounce ,but also the monthly will close looking bearish ,in the next time we go lower ,but I guess we must wait for new changes {quote}
not euphoria follower
  • #340,584
  • May 11, 2013 8:16am May 11, 2013 8:16am
I can see under 13200 it will break ,I don't trust that monthly at all
reason is previous pa on monthly
you can look now at monthly I think it has failed for the next month set up

Quoting iqyu5an
let see how q2 candle closing first........ {quote}
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #340,585
  • May 11, 2013 8:26am May 11, 2013 8:26am
this month is taking profit period for q2 candle imho brotherrrrrr.......


Quoting Bones
I can see under 13200 it will break ,I don't trust that monthly at all reason is previous pa on monthly you can look now at monthly I think it has failed for the next month set up {quote}
not euphoria follower
  • #340,586
  • May 11, 2013 8:35am May 11, 2013 8:35am
The pound is at a mixed turning point right now..............

You will need to look at each time frame for direction...........

Month is flat to down...........

Week is down and may rest the bottom again..........

Daily is up looking for a down turn, but could have one more push long..............

H4 has been coming down, it's at a turning point to continue down or retrace long for a bit............

H1 it bottoming and turning the corner long, but can retest lower still............

M15 is coming off a bottom but has no power behind it.............

So the Pound is very mixed, to short at this time...............
The More You Learn, The More You Earn.....
  • #340,587
  • May 11, 2013 8:40am May 11, 2013 8:40am
Quoting Bones
lol you know ibb I think it will bounce ,but also the monthly will close looking bearish ,in the next time we go lower ,but I guess we must wait for new changes {quote}
You'll love this brother.

I like the aggressive April bounce of TL(s) confluence

Now, bounce off the 61.8 fib and monthly support (current position), eventually to 1.42xx for the retest



Now got to go to bed, up early tomorrow to go to gym before church.

I teach kids in Sunday school, you believe that...
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  • #340,588
  • May 11, 2013 8:46am May 11, 2013 8:46am
spooky

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  • #340,589
  • May 11, 2013 9:04am May 11, 2013 9:04am
not spooky ,very cool ! may be ,lets see monthly close ,if this monthly is dark cloud I will be only look short
its not unusal to retrace outside candle mind
I think crack out the fib expansion right now but would take bullish off line if nice
early days
I would say trade under last months candle this month we going way down straight to long term
re mortgage your home to trade kinda stuff

Quoting Ill-b-back
spooky {image}
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #340,590
  • Edited 9:44am May 11, 2013 9:31am | Edited 9:44am
here close
I might add we closed
under 1.3
in gap ,gap down =bearish not sure if it would close


Quoting Bones
here {image} {image}
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #340,591
  • Edited 10:51am May 11, 2013 10:40am | Edited 10:51am
...
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  • #340,592
  • May 11, 2013 11:06am May 11, 2013 11:06am
You guys...why are you guys trying to long a falling market when you are at the top of the move? I really do hope you do not lose too much while you figure out it's not a long anymore!
Quoting Fudomyo
... {image} {image}
  • #340,593
  • May 11, 2013 11:38am May 11, 2013 11:38am
H4 down trend
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The More You Learn, The More You Earn.....
  • #340,594
  • May 11, 2013 11:46am May 11, 2013 11:46am
Hey F do you see evening star ? I hope for retrace up ..


Quoting Fudomyo
... {image} {image}
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #340,595
  • May 11, 2013 1:19pm May 11, 2013 1:19pm
I was fortunate enough to short GBP/USD @ 1.5576 this past Wednesday, but it was an impulse decision on my part based on the muted reaction to that day's calendar events with no exit plan for the trade and I'm still holding through the weekend. I can be aggressive with holding this position, but any specific price point suggestions for an exit would be appreciated! Any suggestions for a stop or TP from this point forward?

(Yes, I know it was stupid not having an exit plan for the trade; I felt like gambling and got lucky. I shouldn't reinforce a bad habit.)
  • #340,596
  • May 11, 2013 1:27pm May 11, 2013 1:27pm
Quoting baherhosni
{quote} personally, i take trading one step at a time. my trades live for only days not weeks. but of course are based on the higher tf analysis and monitoring. so i am not very bothered with a continuation or a bounce at this point. did you know that Navin has loaded shorts btw? he said so a couple of pages back and i found it amazing that he actually said it out load! hehe.. i am guessing bones and fxtyrent had a lot to do with Navin's short positions oh yeah, and did you pass by fxtyrent's post in which he declared war against all of the bull...

i still in my long position from 1.48xxx and i know it will bring me min 1000 pip in 4 months my long term strategy never failed me down..
and i realy belive on it as i do it lot of time.but anyway i am not daily trader i am kind of month and year trader my positions usually are basedon mid levarege and so my acc balance very stable thanks god!!
so its very nice to see in the end who is wrong and who is right..
anyway will see in approx 3 or 4 mpnths how many pip i will colect...
when GOD brings you a challenge he also gives you the power to deal with it
  • #340,597
  • May 11, 2013 1:35pm May 11, 2013 1:35pm
Quoting eitan1010
{quote} i still in my long position from 1.48xxx and i know it will bring me min 1000 pip in 4 months my long term strategy never failed me down.. and i realy belive on it as i do it lot of time.but anyway i am not daily trader i am kind of month and year trader my positions usually are basedon mid levarege and so my acc balance very stable thanks god!! so its very nice to see in the end who is wrong and who is right.. anyway will see in approx 3 or 4 mpnths how many pip i will colect...

Yes, you may reach to this 1000 pips but the question is when??? You may reach it 6 month later.
  • #340,598
  • May 11, 2013 2:03pm May 11, 2013 2:03pm
ok here's my view
hope you don't mind ,nice chart btw

Quoting Fudomyo
{quote} OK. Let's run a checklist. I posted a technical chart. No commentary. No bias. Without any assistance, you assumed a long bias based on looking at the chart. So why are you talking about me or what I'm doing? The charts should make it obvious what you should be doing if you are in this business to make money.
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  • #340,599
  • Edited 5:05pm May 11, 2013 4:24pm | Edited 5:05pm
Quoting Robby
You guys...why are you guys trying to long a falling market when you are at the top of the move? I really do hope you do not lose too much while you figure out it's not a long anymore!{quote}
Honestly, I thought I had outlined quite a number of reasons, including bullish patterns on the monthly, weekly and 4hr timeframes. Also bullish monthly price action (including a pin and aggressive thrust) from long term support closing above local resistance. 4830 also point of retest on a channel we broke out of in sept last year.

The weekly has retraced 38.1 percent if the up move which itself is characterized by aggressive bullish candles.

We have closed above the nearest level of weekly support. I have outlined before that I am watching current level and the 50 fib below.

Also very strong confluences above at 5780 area including 61.8 fib, 200SMA on daily and weekly, and TL's.

PA, S/R, channel retest and bullish patterns, confluences. What more can I provide?

I'd like your take on why this is the end of the up move, rather than just commentary?

Maybe right or wrong but...
Come with me if you want to live....
  • #340,600
  • May 11, 2013 4:33pm May 11, 2013 4:33pm
And I'm sure Silghags(or whatever his names is) highly criticized gold trade more than made up for his Aussie loss, but of course you won't hear about that in "the press".
Come with me if you want to live....
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