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Cable Update (GBPUSD)

  • #342,741
  • Jun 16, 2013 5:44pm Jun 16, 2013 5:44pm
added another position short @ 1.5727 target 1.55000
  • #342,742
  • Jun 16, 2013 6:41pm Jun 16, 2013 6:41pm
Quoting FXMindset
{quote} Morning all, added buy limit @1.5705 stop @1.5615 TP: Open
I was thinking the exact same thing Mindset.
Retest that weekly TL we just closed above on Friday.

I think I might leave it though as I'm trying to retain and build profits this month and next and the risk/reward (for me) on this one is only slightly better than 1:1.

Have a great week brother.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: gbpusddaily.png Size: 35 KB
Come with me if you want to live....
  • #342,743
  • Jun 16, 2013 7:02pm Jun 16, 2013 7:02pm
Looks like she is ready to drop
All posts are my personal opinion
  • #342,744
  • Jun 16, 2013 7:06pm Jun 16, 2013 7:06pm
Quoting Rtm
Looks like she is ready to drop
Looks the same to me.
  • #342,745
  • Jun 16, 2013 7:14pm Jun 16, 2013 7:14pm
Quoting Rtm
Looks like she is ready to drop
Same View... waiting for it to crash.
  • #342,746
  • Jun 16, 2013 7:15pm Jun 16, 2013 7:15pm
I'm thinking she'll keep slowely climbing to 1.58 area then looking for a sell off of close to 400 pips
Come with me if you want to live....
  • #342,747
  • Edited 9:23pm Jun 16, 2013 8:53pm | Edited 9:23pm
Morning , Hope all good with the week start .
gap up with d top formation to down formula with breaks initially 5704 followed by 5662 & 5616( most important now to absorb all crazy buyers in the last weekend)breaks . Important 5633 already broken before to ease down towards 5494/88 to test & break actually the level protected before 5466. all as the start the journey confirmation & next the old level 5273 test . Not talking about total crush with breaks 5008 yet .

Similar levels in eu , breaks with 3294>78>65 to initial confirmation with breaks 3177. yes there lies false break chances at 3357/79 to have probable double top !

Gold ok to wait for the next crush , below 1300 play !

lets see how good be the whole week, an easy top formation or intermittent crazy plays still .whatever the results almost same.
All ok but perhaps not seeing so far the great news in the eurozone for the crush yet !!
fontu
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: gbpusdh11.png Size: 35 KB
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #342,748
  • Jun 16, 2013 11:00pm Jun 16, 2013 11:00pm
I am still waiting to pull the trigger on my shorts.Waiting price to hit at least 5750
Based on fib harmonics price still has room to go up therefore not shorting yet.
Attached Image (click to enlarge)
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In trading, you have to be defensive and aggressive at the same time
  • #342,749
  • Jun 17, 2013 12:04am Jun 17, 2013 12:04am
Hedged my posissions at 1.5690 as it may want to test the 1.5729 area again the w_m3 pivot
  • #342,750
  • Jun 17, 2013 12:11am Jun 17, 2013 12:11am
G/M,

1st test on that zone leading to last week's 5737 hi encounters supply in early trading... to the immediate upside:

5720/22 50% 6617-4830 / 85.4% 5878-4830

5729-37 prev 1hr/4hr x2/minor daily swing hi zone
5745 Daily R1 @/around

5766 61.8% 6349-4830

5775-95 underside of breeched previous ascending monthly t/line incl: 5783 = 50% 6746-4830, and 5793 = Daily R2 @/around, 5794 = Weekly R1 @/around

5815-5846 prev daily sw hi zone

5854 Daily R3 @/around

5859-76 prev daily sw hi zone incl: 5859 =76.4% 6179-4830, and 5868 = Monthly R2 @/around

5887 Weekly R2 @/around

5931 61.8% 6617-4830

G/L
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ex member
  • #342,751
  • Jun 17, 2013 12:26am Jun 17, 2013 12:26am
i've closed all position and relax now..... did some cut loss but still in profit anyway overall......don't want to get trapped.... Good Luck guys......
i am better to wait.....
  • #342,752
  • Jun 17, 2013 12:46am Jun 17, 2013 12:46am
Rangy so far today. Rangy - bullish now 1hr and 4hr - recent 5615-5737 being the recent consolidation off the hi....daily in an uptrend, weekly recently more bullish than bearish, monthly still ranging.
---------------------------------------------
from 3rd party source: GBP/USD - barrier option at 1.5750 with offers ahead; buy stops building above through 1.5760

G/L
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ex member
  • #342,753
  • Jun 17, 2013 1:25am Jun 17, 2013 1:25am
....testing that zone to 5737 again now after strong recovery on the 1st test of it and pullback,,,what is the greater probability now ? can it be determined and on a longer timescale - will there be an upside follow thru on last week's bullish candle ? what is the greater probability - can this be determined ?


G/L
ex member
  • #342,754
  • Jun 17, 2013 1:40am Jun 17, 2013 1:40am
Quoting bbmac
....testing that zone to 5737 again now after strong recovery on the 1st test of it and pullback,,,what is the greater probability now ? can it be determined and on a longer timescale - will there be an upside follow thru on last week's bullish candle ? what is the greater probability - can this be determined ? G/L
based on weekly it is so bullish...... seems like to me fibo 61.8 weekly at 1.577x will be the key.....
  • #342,755
  • Jun 17, 2013 1:44am Jun 17, 2013 1:44am
Quoting bbmac
....testing that zone to 5737 again now after strong recovery on the 1st test of it and pullback,,,what is the greater probability now ? can it be determined and on a longer timescale - will there be an upside follow thru on last week's bullish candle ? what is the greater probability - can this be determined ? G/L

I would say bull continutation today only if the CAD and US News come in negative. Tomorrow who knows as there is mutch more Eu and GBP news that is expected with possitive forcasts.
  • #342,756
  • Jun 17, 2013 1:55am Jun 17, 2013 1:55am
nice 5min (then 15min) candle resulted on 2nd test of that zone to last week's 5737 hi and zone to today's current hi in that wider zone.
--------------------------------------

offers 5740-60 with 5750 barrier related now discussed by 3 sources I have, above here 5790-5810 mentioned as possible supply zone.

G/L
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ex member
  • #342,757
  • Jun 17, 2013 2:00am Jun 17, 2013 2:00am
Quoting Ill-b-back
{quote} I was thinking the exact same thing Mindset. Retest that weekly TL we just closed above on Friday. I think I might leave it though as I'm trying to retain and build profits this month and next and the risk/reward (for me) on this one is only slightly better than 1:1. Have a great week brother. {image} {image}
Yes Sir,

Daily break and close solid above 1.5753 might pointing the next level which is 1.5867
If there was easy money lying around,no one would be forcing it into your
  • #342,758
  • Jun 17, 2013 2:39am Jun 17, 2013 2:39am
demand at that level on the pullback ?...all a bit rangy intraday and lower t/f's at the moment.

G/L
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ex member
  • #342,759
  • Jun 17, 2013 2:43am Jun 17, 2013 2:43am
Just feeling she can heads up 15900 before any falling. I don't like she goes there with my opening trades, but just something jumps in my head.
  • #342,760
  • Jun 17, 2013 2:55am Jun 17, 2013 2:55am
Quoting ForexRatVN
Just feeling she can heads up 15900 before any falling. I don't like she goes there with my opening trades, but just something jumps in my head.
Going to be a strange few days on cable. We got G8 and also a lot of economic data in the UK tomorrow. A time for some scalping I think. See 5750 then 800 area maybe but slow going.
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