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Cable Update (GBPUSD)

  • #340,761
  • May 13, 2013 8:24am May 13, 2013 8:24am
i honestly think 5400+change would be the high of the day. the daily candle opened below the 55 ema and the 10 is looking down now. add to that the confluence i mentioned in a post above on h4..

cheers
I still need a trading break soon!!! "Loose some to win more" --Baher A.
  • #340,762
  • May 13, 2013 8:27am May 13, 2013 8:27am
Quoting baherhosni
i honestly think 5400+change would be the high of the day. the daily candle opened below the 55 ema and the 10 is looking down now. add to that the confluence i mentioned in a post above on h4.. cheers
watchout watchout.... as usual watch for London Fixing and Close for clues as to what NY is gona do and so far its not looking pretty for the Bulls with PA stuck around this region. top side is limited.
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #340,763
  • May 13, 2013 8:32am May 13, 2013 8:32am
Lets wait for H1 candle close, maybe it's will tell where it's will go...
Manage equity will always make profit...
  • #340,764
  • May 13, 2013 8:34am May 13, 2013 8:34am
Quoting condiet
Lets wait for H1 candle close, maybe it's will tell where it's will go...
i already know where its gona go.
dont ask me how. just watching PA.
on our way down to complete right shoulder on the Daily Chart at 1.5250, and when that happens. its the end game for the bulls.
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #340,765
  • May 13, 2013 8:37am May 13, 2013 8:37am
Quoting fxtyrant
{quote} i already know where its gona go. dont ask me how. just watching PA.
Great, would you tell us, where its gonna go basic on your view bro?
Manage equity will always make profit...
  • #340,766
  • May 13, 2013 8:42am May 13, 2013 8:42am
Yep! I will stay once again you are spot on. I was thinking the right shoulder would have started by now. That is were I am going to put on my final shorts for the move down.
Quoting fxtyrant
{quote} i already know where its gona go. dont ask me how. just watching PA. on our way down to complete right shoulder on the Daily Chart at 1.5250, and when that happens. its the end game for the bulls.
  • #340,767
  • May 13, 2013 8:42am May 13, 2013 8:42am
Quoting condiet
{quote} Great, would you tell us, where its gonna go basic on your view bro?
2 scenario because its monday and i dont really trust it, it could go up to take out orders at 1.54 region before the big drop to 1.5250
1.54/1.5420 is quite a possible scenario, but that doesnt meant im inviting bulls to long it now up to there... because thats just suicidal as thats counter trend.
if a pull up happens look for clue of weakness around 1.54/1.5420 to load shorts...
however if we break above 1.5400 things turn neutral. making a retest of 1.56 possible...
so only if 1.5400 is broken above, shall we revisit 1.56, but im still bearish so ill be looking to load short at 1.56 definitely. 1.5400/1.5420 Only if i see weakness on H4 there...

Otherwise, Immediate down move (Which im viewing at...) is a down move to 1.5250 to complete the right shoulder of a H&S pattern we have on the Daily.
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #340,768
  • May 13, 2013 8:43am May 13, 2013 8:43am
Quoting fxtyrant
{quote} i already know where its gona go. dont ask me how. just watching PA. on our way down to complete right shoulder on the Daily Chart at 1.5250, and when that happens. its the end game for the bulls.
when? that's the question my friend.
  • #340,769
  • May 13, 2013 8:45am May 13, 2013 8:45am
because what can't go down will go up , as always
  • #340,770
  • May 13, 2013 8:49am May 13, 2013 8:49am
i think the coming 4 hour candle has a lot to say..
I still need a trading break soon!!! "Loose some to win more" --Baher A.
  • #340,771
  • May 13, 2013 8:50am May 13, 2013 8:50am
Quoting fxtyrant
{quote} 2 scenario because its monday and i dont really trust it, it could go up to take out orders at 1.54 region before the big drop to 1.5250 1.54/1.5420 is quite a possible scenario, but that doesnt meant im inviting bulls to long it now up to there... because thats just suicidal as thats counter trend. if a pull up happens look for clue of weakness around 1.54/1.5420 to load shorts... however if we break above 1.5400 things turn neutral. making a retest of 1.56 possible... so only if 1.5400 is broken above, shall we revisit 1.56, but im still...
Agreed, really a god view.. 1.5400+ is should be happen, it's pause only because big news on USD. but at last and always, let market decided and lets follow it..
Manage equity will always make profit...
  • #340,772
  • May 13, 2013 8:51am May 13, 2013 8:51am
Quoting -sonny-
because what can't go down will go up , as always
yea but today is not a day of action to test bottom... bottom didnt get tested.... today is low liquidity monday... so theres NO direction....
tell me again if it was a tuesday and we tested the recent low of 1.5300 before you tell me the GBPUSD couldnt break bottom...
when gbpusd doesnt even have the Liquidity to make any action today....

what i realise is people here dont realize the difference between a High liquidity rejection and a low liquidity inactivity... theres a huge difference...
today we are having a low liquidity inactivity .... basically moves that are not testing neither highs nor lows... boring as fuck..

FOR people wondering what im looking at.

I have had enough with people who keep saying they dont see no H&S pattern on the Daily Chart... Also be aware how the Williams % Range indicator is just beginning its decline.... so its no time to be longing now.
Long when williams%R indicator is down to the -80/-100 region, not anytime before.
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We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #340,773
  • May 13, 2013 8:53am May 13, 2013 8:53am
Quoting -sonny-
because what can't go down will go up , as always
ok.. but consider also that what can't go down now, can go down later.. thats what the market showed quite a number of time if you know what i mean.. hehe
I still need a trading break soon!!! "Loose some to win more" --Baher A.
  • #340,774
  • May 13, 2013 8:59am May 13, 2013 8:59am
Quoting fxtyrant
{quote} yea but today is not a day of action to test bottom... bottom didnt get tested.... today is low liquidity monday... so theres NO direction.... tell me again if it was a tuesday and we tested the recent low of 1.5300 before you tell me the GBPUSD couldnt break bottom... when gbpusd doesnt even have the Liquidity to make any action today.... what i realise is people here dont realize the difference between a High liquidity rejection and a low liquidity inactivity... theres a huge difference... today we are having a low liquidity inactivity...
exactly, levels break only when enough momentum is slammed in them and force them out of the way by triggering sl and stops too. thats when you cash in on the money lost by the opposing side when their sl was hit..
I still need a trading break soon!!! "Loose some to win more" --Baher A.
  • #340,775
  • May 13, 2013 9:02am May 13, 2013 9:02am
Quoting baherhosni
{quote} ok.. but consider also that what can't go down now, can go down later.. thats what the market showed quite a number of time if you know what i mean.. hehe
Right, than we are back to the "when", tomorow? Next week, in june?
One thing I'm sure I will not sell here :-)
  • #340,776
  • May 13, 2013 9:04am May 13, 2013 9:04am
Quoting -sonny-
{quote} Right, than we are back to the "when", tomorow? Next week, in june? One thing I'm sure I will not sell here :-)
i am sorry if i am bugging you.. i think u mean you will not sell here NOW.. right?
I still need a trading break soon!!! "Loose some to win more" --Baher A.
  • #340,777
  • May 13, 2013 9:05am May 13, 2013 9:05am
In fact I'm buying more
  • #340,778
  • May 13, 2013 9:08am May 13, 2013 9:08am
Quoting -sonny-
{quote} Right, than we are back to the "when", tomorow? Next week, in june? One thing I'm sure I will not sell here :-)
dude if anyone can call the exact time of when, that person is heck fishy.... if someone can predict say the date the Federal Reserve will raise interest rate and guess it right. theres reasonable reasons to believe that person might actually have connections within...
even with my sound analysis i dont dare say WHEN....
all i can give you is a time frame.

i have had calls that took as long as 6 months for it to happen... that was gold when i called for gold to fall to 1450 when it was up at 1700usd/oz back in december.

i also made a call for AUDUSD to reach parity back in October 2012... took fucking 7-ish months for it to reach it just last week....

soo as long as your analysis is Sound... the WHEN doesnt really matter as what traders should do is to BE COMMITTED to the trade you entered and do your best to see it through... not ditching your trade premature because you think its talking too long....
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #340,779
  • May 13, 2013 9:09am May 13, 2013 9:09am
Quoting -sonny-
{quote} Right, than we are back to the "when", tomorow? Next week, in june? One thing I'm sure I will not sell here :-)
Well its not sign to short here nor to buy here... we are in a holding pattern at the moment...
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #340,780
  • May 13, 2013 9:24am May 13, 2013 9:24am
Quoting fxtyrant
{quote} Well its not sign to short here nor to buy here... we are in a holding pattern at the moment...
i would wait til tomorrow for a new entry.
I still need a trading break soon!!! "Loose some to win more" --Baher A.
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