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Cable Update (GBPUSD)

  • #341,661
  • May 24, 2013 9:14am May 24, 2013 9:14am
Quoting albchr
{quote} LOL...nothing to do with guts. Just nothing to post about. Oh...except for maybe this..... {quote} 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.
So not you then

Bank holidays make things worse. If we see things is complicated and we can't handle this, then we'd better stay away from the market till it becomes clearer.

Nice weekend
Make it simple, but not simpler - Einstein
  • #341,662
  • May 24, 2013 9:15am May 24, 2013 9:15am
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
Bulls and bears getting squeeezzz ... ed
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Come with me if you want to live....
  • #341,663
  • Edited 9:37am May 24, 2013 9:21am | Edited 9:37am
10 pips to break today's high ( high of intraday fib )

gonna see how m30 close first. above or below ema 200



Quoting iqyu5an
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...
not euphoria follower
  • #341,664
  • May 24, 2013 9:26am May 24, 2013 9:26am
Quoting Ri Dwe
{quote} So not you then Bank holidays make things worse. If we see things is complicated and we can't handle this, then we'd better stay away from the market till it becomes clearer. Nice weekend
Not complicated at all. 4900 and lower on the horizon but I'll not waste time until next Tuesday (although one could put "some" pips in the bank before close, I don't feel like scalping this little range today).

However high it drifts today (if it does much at all), will be good selling next week. Would be sweet if it manages 5220/70 or so by then.

But I doubt it. ... lol

I have steaks, beer and Vodka to buy.

Have fun folks and as TYRANT would say, be careful of this sucker zone.
Ghost Rider - WWTBMD?
  • #341,665
  • May 24, 2013 9:42am May 24, 2013 9:42am
Quoting Ill-b-back
{quote} Bulls and bears getting squeeezzz ... ed
They are fighting a holy war .. or the traders in London are heading up to the Champions League Final. Anyone in London?

Quoting albchr
{quote} Not complicated at all. 4900 and lower on the horizon but I'll not waste time until next Tuesday (although one could put "some" pips in the bank before close, I don't feel like scalping this little range today). However high it drifts today (if it does much at all), will be good selling next week. Would be sweet if it manages 5220/70 or so by then. But I doubt it. ... lol I have steaks, beer and Vodka to buy. Have fun folks and as TYRANT would say, be careful of this sucker zone.
Actually I don't really care about today as long as it will be closed above 1.508, as I see things in longer horizon.

Talking about steaks you make me hungry
Make it simple, but not simpler - Einstein
  • #341,666
  • May 24, 2013 9:44am May 24, 2013 9:44am
BREAK

Quoting iqyu5an
10 pips to break today's high ( high of intraday fib ) gonna see how m30 close first. above or below ema 200 {quote}
not euphoria follower
  • #341,667
  • May 24, 2013 10:00am May 24, 2013 10:00am
Quoting Ri Dwe
Actually I don't really care about today as long as it will be closed above 1.508, as I see things in longer horizon. Talking about steaks you make me hungry
Just curious as to how long your horizon is?

For me, closing above the DP at 5077 today won't mean much over the next few weeks me thinks. Once it hits the 4900/4600 area, I'll start "thinking" about longs back to the 6300 area maybe.

As I mentioned here on the 22nd, http://www.forexfactory.com/showthre...62#post6698162

Once the dollar finishes correcting next week (or there about), I think GU will drop quickly again. Just my take "as of now" though. Talking heads can change anything with a word or two. lol
Ghost Rider - WWTBMD?
  • #341,668
  • May 24, 2013 10:01am May 24, 2013 10:01am
good news for the dollar but cable go up , oops seems that bears have a problem here
Attached Image
  • #341,669
  • May 24, 2013 10:03am May 24, 2013 10:03am
h1 close above yesterday high ( again ) and above ema 200 m30

Quoting iqyu5an
BREAK {quote}
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not euphoria follower
  • #341,670
  • May 24, 2013 10:08am May 24, 2013 10:08am
Quoting -sonny-
good news for the dollar but cable go up , oops seems that bears have a problem here {image}
Yep, they do. They have to wait until the steaks just cut from the bulls are cooked before eating them.....
Ghost Rider - WWTBMD?
  • #341,671
  • May 24, 2013 10:28am May 24, 2013 10:28am
Quoting albchr
{quote} Just curious as to how long your horizon is? For me, closing above the DP at 5077 today won't mean much over the next few weeks me thinks. Once it hits the 4900/4600 area, I'll start "thinking" about longs back to the 6300 area maybe. As I mentioned here on the 22nd, http://www.forexfactory.com/showthre...62#post6698162 Once the dollar finishes correcting next week (or there about), I think GU will drop quickly again. Just my take "as of now" though. Talking heads can change anything with a word or two. lol
In my opinion Cable will retest1.58-1.60 at its first attempt and 1.62-1.64 at second attempt to break the upperband. Possibly make a false breakout to 1.67. But I don't think it will go any further.

To the current situation, I see that the level around 1.508 is critical, as I use mainly Pivot and Fibo, and that level coincides with last month Pivot, while 1.504 is the S2 of this month. And these are very strong support. This month Cable has dropped close to 600 pips. That is the average of monthly change. It means for me the bears are already exhausted. After such drop, you need to be in frenzy to break the supports. The economy is not good, but far from catastrophic. The UK has officially avoided triple dip and The Fed still prints money.

You see it's losing momentum. The big bears are unloading their cargo. Why do you jump in? The train is heading a wall ..
Make it simple, but not simpler - Einstein
  • #341,672
  • May 24, 2013 10:54am May 24, 2013 10:54am
Long Term Dream

Inserted Video


edit : don't try this on your dummy account...
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not euphoria follower
  • #341,673
  • Edited May 25, 2013 5:17am May 24, 2013 11:03am | Edited May 25, 2013 5:17am
Quoting Ri Dwe
You see it's losing momentum. The big bears are unloading their cargo. Why do you jump in? The train is heading a wall ..
Not a wall, just a stop. Not loosing momentum, gaining it. I've been selling the rallies since 6300 and doing quite well so, not just "jumping in" but planning along the way.

Break, test and rejection of the 4 Year symmetrical triangle. Engulfing monthly so far if it closes anywhere around here by the end. Next "major" support at 4350ish of the 2009 rise. Aside from normal corrections along the way, all TF's above 5M pointing down. Pound bulls will have to get very serious and dollar bears as well to change things. I just don't see that happening yet.

Yep, for me it's sell the rallies until PA says otherwise. I'm happy to walk away with 28.8899% this week.
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Ghost Rider - WWTBMD?
  • #341,674
  • May 24, 2013 11:26am May 24, 2013 11:26am
Quoting iqyu5an
Long Term Dream http://www.youtube.com/watch?v=wlq0lYB3iSM edit : don't try this on your dummy account... {image}
  • #341,675
  • May 24, 2013 11:27am May 24, 2013 11:27am
Quoting Ill-b-back
{quote} lol.... dude a well measured response, far more lenient than I could ever muster. You have my utmost respect I'm kinda hoping she goes down, but as you can see I'm not exactly betting the farm on it {image} {image}
I'm Getting Older ..lol

Quoting taomql4
{quote} Kinda late in the day .. Not too sure the demand levels will allow sellers through ..Depending on how the 4hr candle closes , I'll be looking to take a couple of long Positions .. Nite.. {image}

Alright , Had enough of this - Closing Out for the Week ...

Special ShoutOut goes to Emmanuel

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  • #341,676
  • May 24, 2013 11:32am May 24, 2013 11:32am
Quoting albchr
{quote} Not a wall, just a stop. Not loosing momentum, gaining it. I've been selling the rallies since 6300 and doing quite well so, not just "jumping in" but planning along the way. Break, test and rejection of the 4 Year symmetrical triangle. Engulfing monthly so far if it closes anywhere around here by the end. Next "major" support at 4850ish of the 2009 rise. Aside from normal corrections along the way, all TF's above 5M pointing down. Pound bulls will have to get very serious and dollar bears as well to change things. I just don't see...

Yeah, that what I mean in my previous posts with many ways in perceiving PA. My understanding differs from you, and that it's ok. That what makes the market after all. For every buyer there is a seller

In the longer term I agree that Cable will go to 1.44 or even 1.1 in 2014-2015. But not before retesting the upperband. As you see in your own graphs the EMAs have been broken but not yet retested. It will go there soon.

As the folks are in Buy Frenzy, celebrating the 'Recovery', especially the ones in derivatives business, then it is high time for another crash. For the time being there is simply no reason for that.

Good that you has ridden the wave down from 1.63 and still selling. But in the next coming months you have to be prepared to withstand 1000 pips drawdown until it comes back to this level.
Make it simple, but not simpler - Einstein
  • #341,677
  • May 24, 2013 11:39am May 24, 2013 11:39am
Market become apathetic but not hopeless still .

http://www.forexfactory.com/showthre...73#post6706373

fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #341,678
  • May 24, 2013 11:57am May 24, 2013 11:57am
Can it go up some more
  • #341,679
  • May 24, 2013 12:35pm May 24, 2013 12:35pm
clear position in GU
not euphoria follower
  • #341,680
  • May 24, 2013 2:22pm May 24, 2013 2:22pm
Why is the pound up? uk is in the shitter. this a good example of why most of the time retail forex is just legalized gambling...guess that's why it's so addicting...we love being right 3 out of 100 times...what a suckers game... that's why i won't bet any more than a dime a pip...better odds in Vegas.
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