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Cable Update (GBPUSD)

  • #341,641
  • May 24, 2013 4:41am May 24, 2013 4:41am
Enough games already

come on....
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Click to Enlarge Name: gbpusdh1.png Size: 33 KB
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  • #341,642
  • May 24, 2013 4:48am May 24, 2013 4:48am
Quoting baherhosni
{quote}if you are refering to that 15 pip candle on m15, then that is just scalpers closing buy positions.. the bears are not in play yet imo..
I referred to the move in early Asian Session, about 40 pips. Maybe scalpers, I don't know, you'd know it better. From the bullish side (yes I am biased) I see that trap as Price Action, a sign for me that we are about to head up soon.
Make it simple, but not simpler - Einstein
  • #341,643
  • May 24, 2013 4:57am May 24, 2013 4:57am
Could also shoot up to retest resistance and create nice bearish harmonic to load more shorts from.

Bloomberg or whoever saying most economists predicting good US number today...

So you just know it will be crap...
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  • #341,644
  • May 24, 2013 5:04am May 24, 2013 5:04am
Quoting Ill-b-back
Could also shoot up to retest resistance and create nice bearish harmonic to load more shorts from. Bloomberg or whoever saying most economists predicting good US number today... So you just know it will be crap... {image} {image}
we're stuck really.. i am simply wondering how much supply is in that supply area right above our heads now.. the amount could mean the break out from the monthly demand area we are currently in the midst of from 5230 to 4900. the direction of the breakout is critical for planning for months to come imo..

cheers
I still need a trading break soon!!! "Loose some to win more" --Baher A.
  • #341,645
  • May 24, 2013 5:06am May 24, 2013 5:06am
Quoting Ill-b-back
Could also shoot up to retest resistance and create nice bearish harmonic to load more shorts from. Bloomberg or whoever saying most economists predicting good US number today... So you just know it will be crap... {image} {image}
If it reaches 1.519 today, then next week you will have the opportunity to short at 1.523 or 1.527 I think. But have to look at how this week closed
Make it simple, but not simpler - Einstein
  • #341,646
  • May 24, 2013 5:16am May 24, 2013 5:16am
some south wind as traders prepare for the US news!!
I still need a trading break soon!!! "Loose some to win more" --Baher A.
  • #341,647
  • May 24, 2013 5:21am May 24, 2013 5:21am
Quoting Ri Dwe
{quote} If it reaches 1.519 today, then next week you will have the opportunity to short at 1.523 or 1.527 I think. But have to look at how this week closed
i dont think so. short 5100 while u can. i shorted 5120 TP 4990
  • #341,648
  • May 24, 2013 5:21am May 24, 2013 5:21am
Quoting baherhosni
{quote}we're stuck really.. i am simply wondering how much supply is in that supply area right above our heads now.. the amount could mean the break out from the monthly demand area we are currently in the midst of from 5230 to 4900. the direction of the breakout is critical for planning for months to come imo.. cheers
I'm not reaaly sure about that kind of stuff, I was looking at 4930 area to be retested today.
The internal TL is not clean but PA around it validates it

If we do move up into 5230 area, the 2 strong bearish weeks above that area would make this week a coiled spring ready to bounce back down if you know what I mean

edit: and if that happens we might just crash through the low
Attached Image(s) (click to enlarge)
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  • #341,649
  • May 24, 2013 5:23am May 24, 2013 5:23am
Quoting baherhosni
some south wind as traders prepare for the US news!!
Pricing it in

or fishing......?
Come with me if you want to live....
  • #341,650
  • May 24, 2013 5:28am May 24, 2013 5:28am
Quoting Ri Dwe
{quote} If it reaches 1.519 today, then next week you will have the opportunity to short at 1.523 or 1.527 I think. But have to look at how this week closed
Come with me if you want to live....
  • #341,651
  • May 24, 2013 5:33am May 24, 2013 5:33am
yes ! i told to short
  • #341,652
  • May 24, 2013 5:57am May 24, 2013 5:57am
Quoting Trader88q
{quote} i dont think so. short 5100 while u can. i shorted 5120 TP 4990
I am still long to 1.6. Shorting at current level is too risky for me. Maybe I start shorting at 1.538, 1.546 or 1.556 for scalping while keeping my long positions open
Make it simple, but not simpler - Einstein
  • #341,653
  • May 24, 2013 5:59am May 24, 2013 5:59am
Little late for update here :

http://www.forexfactory.com/showthre...29#post6705629
take care .
fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #341,654
  • May 24, 2013 6:04am May 24, 2013 6:04am
Quoting soumendu
Hi All, I had shorted 100K at 5073. I didn't put a stop loss and it's hovering around 5125. Now, the BBA mortgage data came negative and so the Cable should have dropped but it kept going up. The US core durable goods data is at 6:00. Yesterday, the home sales data came and had next to no impact even though its an important measure and was positive. Now, all things point to the cable going down, but it isn't. I have an available margin of 100 pips. Please advise if I should pack my bags at a 500 USD loss or stay? M super confused.
There is no clear answer if you ask such question here in the forum. The bears definitely persuade you to hold your short position. I on the other side see that if the news were in favour but the price didn't move accordingly, there is something to think about. For me it is one of the signals that direction is about to change. Just consult to other evidences.
Make it simple, but not simpler - Einstein
  • #341,655
  • Edited 6:31am May 24, 2013 6:07am | Edited 6:31am
Long at 1.50834. SL 1.5070, TP 1.5195. Small trade which is already at BE, as I split the original 1.50834 trade at 1.50966 and used the 50% profit to provide a BE SL.

Have now moved SL to 1.50834. If it falls back through this, could keep motoring south.
  • #341,656
  • May 24, 2013 6:36am May 24, 2013 6:36am
Quoting Ri Dwe
{quote} I on the other side see that if the news were in favour but the price didn't move accordingly, there is something to think about. For me it is one of the signals that direction is about to change. Just consult to other evidences.
It's complicated right now

Maybe moving up into resistance confluence off weekly TL confluence (not sure how I missed it as I have been watching this support TL for weeks for a retest). Now we are here and I missed it

Looks like maybe wants to move upto Resistance area for 2nd lower slanted shoulder. will be hard to break though I think before coming back down to magenta next week

That's my take on it anyway. I'm using tiny size with lots of room
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  • #341,657
  • May 24, 2013 6:54am May 24, 2013 6:54am
That immediate resistance TL we are at seems crucial
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  • #341,658
  • May 24, 2013 6:58am May 24, 2013 6:58am
Quoting Ill-b-back
{quote} It's complicated right now Maybe moving up into resistance confluence off weekly TL confluence (not sure how I missed it as I have been watching this support TL for weeks for a retest). Now we are here and I missed it Looks like maybe wants to move upto Resistance area for 2nd lower slanted shoulder. will be hard to break though I think before coming back down to magenta next week That's my take on it anyway. I'm using tiny size with lots of room {image} {image}
It seems to be. So many visitors, but no one has the guts to make up his mind and make a post, except you .. For me the more confusing, the more I am convinced we will go up
Make it simple, but not simpler - Einstein
  • #341,659
  • May 24, 2013 7:02am May 24, 2013 7:02am
finally ..200 ema m30 was kissed before NY open.. and drops after market kissed max bull target - intraday fibbing...

now we got new new intraday fibo ( Hi low - today's range )..and price is back above 50 of intraday fib. and the intraday fib is pointing 516x-517x as intraday .. bull target .( and there is ema 200 h1 also .... )

for ichi lover... broke the 1H cloud already aniway...


just open monthly candle... and everybody will see what it is ...... the 517x is ...

don't try this at your bathroom...

***
if the daily bull target not hit today... personally.. will keep on eye this zone closely in the following days... for something

USDX .. gonna test 100-88.6 of monthly fibo........... it seems ...... but let see


Quoting iqyu5an
as long as .... weekly candle close above weekly open . it seems pa will test 537x ( this month ) and around. the first magnet is 523x ( and around ) intraday... pa is located above 50 hilow of yesterday and above daily pivot and tokyo open ..once market broke high of yesterday 517x-519x is welcome for ichi lover... pa just broke the cloud and ema 200 is about 40 pip above .. for 200 ema lover... market stay above ema 200 ( m15 alreaday )... most likely she gonna test next ema... 200 ema m30 in the name of technical...... see ya... and bye...
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: intraday.png Size: 42 KB
not euphoria follower
  • #341,660
  • May 24, 2013 7:04am May 24, 2013 7:04am
Quoting Ri Dwe
{quote} It seems to be. So many visitors, but no one has the guts to make up his mind and make a post, except you .. For me the more confusing, the more I am convinced we will go up
LOL...nothing to do with guts. Just nothing to post about. Oh...except for maybe this.....

Quoting albchr
{quote} Most of the NY crowd has packed up early after lunch to get ready for Memorial Day weekend. Opening pools, scrubbing BBQ's and shopping for food and drink for the first "official" party of the summer. Don't expect too much from NY for the rest of the week. Asian and London sessions should pick up a bit me thinks.
Headed into a long weekend, both USD and GBP bank holidays on Monday, do you really think we'll see much movement or now is a good time to "find" a position?

Not me after a great week. Have a good weekend folks.
Ghost Rider - WWTBMD?
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