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Cable Update (GBPUSD)

  • #340,601
  • Edited 5:03pm May 11, 2013 4:53pm | Edited 5:03pm
Another view, have we even formed a weekly TL yet?

Maybe, maybe not...

Let's watch PA for a direction next week before we decide to cancel anything out

And the current 38 fib was the only level not yet cleanly retested (until Friday last week of course).
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Come with me if you want to live....
  • #340,602
  • May 11, 2013 5:04pm May 11, 2013 5:04pm
You are in a down market. Were was the price last year and the year before that? Was it up? No it's been down for each year the avg of that year vs the last is down. You are going down. You are in a up move that is over from the down move were you have bounced up to 50% of that last down move. This is the big picture. As far as an major turn in the GBP you do not have that. You are reading into the very small time frames as it's going to change the direction.

If you have a 68% pull back from the last down move then you need to start looking for a bottom to long from. 50% is a normal pull back for a 5 wave count down. If you get 38% then you have a very week market and you will have a bigger pattern move. How you are coming up with bullish price action that will only work for a few days to a few weeks then we start back down again I do not understand. It is standard for the markets to bounce at all levels to take out stops. That is noise to me. Yes you are at a tech h-zone were you will get a bounce for how much...not much...that will be sunday to monday then you will head south again. Their is no major change here that I can see. What you are doing is looking at the micro moves in up channel that has ended.

You ask why has it ended? Go look at the previous times it has come down to the bottom of the up channel. What was the price action doing then? Dose it look the same as now?? No it dose not, why dose it look different from the rest of the times it has come to the bottom of the up channel??? That is because the channel is over with. I have paid alot of money in the passed to learn these things. When it comes out of your pocket you will learn. Very fast teacher. For the people trying to long this. I wish you the best of luck. Try to get into a + position and set a stop that is in + so you will not lose too much!
Quoting Ill-b-back
{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...
  • #340,603
  • May 11, 2013 5:08pm May 11, 2013 5:08pm
Quoting Robby
You are in a down market. Were was the price last year and the year before that? Was it up? No it's been down for each year the avg of that year vs the last is down. You are going down. You are in a up move that is over from the down move were you have bounced up to 50% of that last down move. This is the big picture. As far as an major turn in the GBP you do not have that. You are reading into the very small time frames as it's going to change the direction. If you have a 68% pull back from the last down move then you need to start looking...
Thanks, I appreciate it.
Come with me if you want to live....
  • #340,604
  • May 11, 2013 5:08pm May 11, 2013 5:08pm
Quoting Robby
You are in a down market. Were was the price last year and the year before that? Was it up? No it's been down for each year the avg of that year vs the last is down. You are going down. You are in a up move that is over from the down move were you have bounced up to 50% of that last down move. This is the big picture. As far as an major turn in the GBP you do not have that. You are reading into the very small time frames as it's going to change the direction. If you have a 68% pull back from the last down move then you need to start looking...
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  • #340,605
  • May 11, 2013 5:17pm May 11, 2013 5:17pm



Quoting Ill-b-back
Another view, have we even formed a weekly TL yet? Maybe, maybe not... Let's watch PA for a direction next week before we decide to cancel anything out And the current 38 fib was the only level not yet cleanly retested (until Friday last week of course). {image}
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  • #340,606
  • May 11, 2013 5:21pm May 11, 2013 5:21pm
Hope you make a ton of money on your longs. Do not let it get away from you!!!
Quoting Ill-b-back
{quote} Thanks, I appreciate it.
  • #340,607
  • May 11, 2013 5:50pm May 11, 2013 5:50pm
Quoting Robby
Hope you make a ton of money on your longs. Do not let it get away from you!!!{quote}
ok, lets say ibb agrees with you.. but he is an aggressive trader who will want to go for the two digit pips that would come from a pull up or a retest.. whats bad about that? i mean if that is his trading personality then thats him.. I am sure he will find his profitable exit from his long at the right time. or else he would n't have earned his 10+vs.. get me?

relax everyone and enjoy the trade.. just like bones.. just look at him he is teasing everyone posting and playing with them all sorts of tricks while banking a hell lot of profit.. ain't that true bones?

cheers
I still need a trading break soon!!! "Loose some to win more" --Baher A.
  • #340,608
  • May 11, 2013 5:56pm May 11, 2013 5:56pm
I have no trades open.

SL 10 pips below the low if I get a signal to buy.
Come with me if you want to live....
  • #340,609
  • May 11, 2013 6:12pm May 11, 2013 6:12pm
i have been rarely out of the market recently. even when in doubt, i always have micro or mini lot sized positions on both sides with more weight on the direction my analysis is more biased to. those little change sized profits from here and there counts you know!! hehe

cheers
I still need a trading break soon!!! "Loose some to win more" --Baher A.
  • #340,610
  • May 11, 2013 6:25pm May 11, 2013 6:25pm
Quoting Ill-b-back
I have no trades open. SL 10 pips below the low if I get a signal to buy.
just to clarify, i wasn't suggesting that you have a long position. what i meant to say was that if you were to go long for a certain target, you will be able to manage your position and hopefully exit with green pips at the right time based on your analysis and pa monitoring..
I still need a trading break soon!!! "Loose some to win more" --Baher A.
  • #340,611
  • May 12, 2013 12:58am May 12, 2013 12:58am
something i wandered so much here.

after "G7" meeting, i think UJ, GJ, EJ have bull power.
and GU correlate with eurousd that struggle pass the 1.29447.
so whats happen with this GU ?
i think it will go up again follow the old friend GJ..
how about you guys ?
  • #340,612
  • May 12, 2013 1:00am May 12, 2013 1:00am
Quoting Maso
{quote} Yes, you may reach to this 1000 pips but the question is when??? You may reach it 6 month later.
its ok for me..realy dont hurry i took it in my mind that it will take some time max half year but i think it will be before..

regards and green pips to all!!!

when GOD brings you a challenge he also gives you the power to deal with it
  • #340,613
  • May 12, 2013 1:27am May 12, 2013 1:27am
Quoting BaraHabiba
something i wandered so much here. after "G7" meeting, i think UJ, GJ, EJ have bull power. and GU correlate with eurousd that struggle pass the 1.29447. so whats happen with this GU ? i think it will go up again follow the old friend GJ.. how about you guys ?
i don't an open question like that is necessary.. just read the last 10 pages or so and you WILL find all sorts of directions and sentiments analysed and described.. and i mean ALL! even having the price burst out of the screen in your face in 3D instead of just north, south and east.. hehe.. even looking left (west) in search for similar patterns in past years..

just read them.. tell me if you will use anything else but your own point of view when u finish reading them!!

cheers
I still need a trading break soon!!! "Loose some to win more" --Baher A.
  • #340,614
  • May 12, 2013 1:35am May 12, 2013 1:35am
Quoting BaraHabiba
something i wandered so much here. after "G7" meeting, i think UJ, GJ, EJ have bull power. and GU correlate with eurousd that struggle pass the 1.29447. so whats happen with this GU ? i think it will go up again follow the old friend GJ.. how about you guys ?
oh and you will find analysis for other non cable related pairs too.. see how amazing being on this thread is.. its like having an FF summery on one thread..

by the way i am trying to be funny about it.. but i am in fact happy to belong to this thread and i feel at home here with all the amazing traders on the thread.

i want to sent everyone a warm good morning on this fine Sunday morning.. bless you all..

@illbb how was Sunday school? or where you just kidding?


cheers
I still need a trading break soon!!! "Loose some to win more" --Baher A.
  • #340,615
  • May 12, 2013 1:53am May 12, 2013 1:53am
Quoting baherhosni
{quote} oh and you will find analysis for other non cable related pairs too.. see how amazing being on this thread is.. its like having an FF summery on one thread.. by the way i am trying to be funny about it.. but i am in fact happy to belong to this thread and i feel at home here with all the amazing traders on the thread. i want to sent everyone a warm good morning on this fine Sunday morning.. bless you all.. @illbb how was Sunday school? or where you just kidding? cheers
u r good guy

wish u all the best !!
when GOD brings you a challenge he also gives you the power to deal with it
  • #340,616
  • May 12, 2013 1:56am May 12, 2013 1:56am
Well this is what I am seeing as I placing orders on a fresh Sunday morning in the UK.
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  • #340,617
  • May 12, 2013 2:15am May 12, 2013 2:15am
Gidday

Went short to 153 TP

Been trading way to many charts

It has be doing some good moves up last couple of weeks

decide well it might climb back to 160

Wrong again,never mind carrying a couple off longs under water

Still if this EUR/US decides to drop under 129

What is stopping this GBP/US from going down to lower levels.
  • #340,618
  • May 12, 2013 2:23am May 12, 2013 2:23am
Quoting eliteincome
Gidday Went short to 153 TP Been trading way to many charts It has be doing some good moves up last couple of weeks decide well it might climb back to 160 Wrong again,never mind carrying a couple off longs under water Still if this EUR/US decides to drop under 129 What is stopping this GBP/US from going down to lower levels.
'What is stopping this GBP/US from going down to lower levels.'

Me.
  • #340,619
  • May 12, 2013 3:42am May 12, 2013 3:42am
Quoting claudia1
{quote} 'What is stopping this GBP/US from going down to lower levels.' Me.

I wonder how traders are placing orders during the weekend!! Not only that, but some are expecting price to move too.. Unless you are using one of the minority brokers who let you do that for huge spreads.. (don't like to mention brand names on forums..)

Check out "xe" website for weekend price updates. I do that and I find it somewhat accurate when the price does actually move during market close to create gaps on market open..
I still need a trading break soon!!! "Loose some to win more" --Baher A.
  • #340,620
  • May 12, 2013 3:43am May 12, 2013 3:43am
Quoting eitan1010
{quote} u r good guy wish u all the best !!
Thanks Eitan.. you are a cool person yourself.
I still need a trading break soon!!! "Loose some to win more" --Baher A.
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