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Cable Update (GBPUSD)

  • #343,581
  • Jul 4, 2013 10:05pm Jul 4, 2013 10:05pm
Quoting davidsayli
{quote} GBP/USD H4 CHART {image}
Agree with this analysis too just looking monthly charts I would start to get worried about my long if we comprehensively breach 1.483
  • #343,582
  • Jul 4, 2013 10:12pm Jul 4, 2013 10:12pm
Quoting davidsayli
Some hedge funds closing their short positions at this levels. It means that we can see a big rising to the 1.5280 very soon. GL
Possible that they may short it again after NFP releases .
  • #343,583
  • Jul 4, 2013 11:02pm Jul 4, 2013 11:02pm
Bones, me and nav are licking our fingers with our shorts from 1.56, keep it simple guys, gbpusd turned bearish ever since we broke below that upwards trend, and we just recently retested that broken tremdline to confirm a bear run
carney coming into BOE and hes a much dovish guy than mervyn, expect rising QE from BOE
1.48 support is not the concern as davidsayli is so eager to long it
my concern is if my shorts would reach my medium term target of 1.45-1.42 region now that monthly turned bearish and gaining momentum
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #343,584
  • Jul 4, 2013 11:05pm Jul 4, 2013 11:05pm
Quoting FXMindset
Monthly Keep It Simple {image}
Great chart! Totally signalling a huge bear run in the making and yet ppl are hoping that 1.48 support would hold when we have a totally bearish formation in play as we got a confirmed rejection of that uptrend recently at 1.57
the equilibrium has shifted to beariah ever aince we broken that trendline
dunno why ppl are still longing this shit when nav me and bones are well ahead shorting since 1.56
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #343,585
  • Jul 4, 2013 11:20pm Jul 4, 2013 11:20pm
Quoting fxtyrant
Bones, me and nav are licking our fingers with our shorts from 1.56, keep it simple guys, gbpusd turned bearish ever since we broke below that upwards trend, and we just recently retested that broken tremdline to confirm a bear run carney coming into BOE and hes a much dovish guy than mervyn, expect rising QE from BOE 1.48 support is not the concern as davidsayli is so eager to long it my concern is if my shorts would reach my medium term target of 1.45-1.42 region now that monthly turned bearish and gaining momentum
I would never discount a credible theory hence my stop loss. I shorted at 1.57. I am now no longer licking my fingers at a short prospect. I could get burned for 50% of my previous profit if I am wrong though I would certainly agree if we slice 1.48 we see 1.45 and I'll get my money back there.
  • #343,586
  • Jul 4, 2013 11:21pm Jul 4, 2013 11:21pm
As i predicted
GBPUSD fell bug time because of Carney's BOE Speech....
him and Dragass moved the Gbpusd and euruad big time yeaterday
mark carney is already in office so expect more GBP weakness and forget bout technicals
we are approaching the time where fundamentals are going to move markets, and technicals will be disrespected
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #343,587
  • Jul 4, 2013 11:25pm Jul 4, 2013 11:25pm
Quoting davidsayli
{quote} GBP/USD H4 CHART {image}
Most invalid
check out daily chart and tell me you dont see that daily bearish engulfing candle

u came im bullish at the wrong time for both technical and fundamental perspective
have you not read Carney's speech?? Dont expect interest rate to rise before 2015.... That Long....
and ur still bullish???
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #343,588
  • Jul 5, 2013 12:31am Jul 5, 2013 12:31am
Quoting fxtyrant
{quote} Most invalid check out daily chart and tell me you dont see that daily bearish engulfing candle u came im bullish at the wrong time for both technical and fundamental perspective have you not read Carney's speech?? Dont expect interest rate to rise before 2015.... That Long.... and ur still bullish???
I'm a little confused sir, on one hand your talking about ignoring technicals, then your telling me about bearish engulfing candles? Which information should I cherry pick from you to help me asses my trade?
  • #343,589
  • Jul 5, 2013 1:56am Jul 5, 2013 1:56am
weekly reach actually done already but no, gold still to decide mofu ranging for correction or further tanking yet, not this week perhaps .eu only reach daily close price 2894 not low 2805 yet , weekly close 2861 to reach then first or as far as it can go .so carry out till weekly low get.
fontu
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpusdweekly.png Size: 29 KB
Click to Enlarge Name: eurusddaily.png Size: 41 KB
Click to Enlarge Name: goldh4.png Size: 30 KB
Click to Enlarge Name: eurusdweekly.png Size: 40 KB
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #343,590
  • Jul 5, 2013 2:24am Jul 5, 2013 2:24am
G/M,

How much demand in this previous weekly/daily/4hr swing lo zone down to 5006 ? bids to 5000-option related says a source ? Below there:

4994 Monthly S1 @/around
4988 Daily S1 @/around
4971 Weekly S2 @/around
4967 85.4% 4830-5751

Decisive downside breech of the ascending daily/weekly trend line yesterday and a downside follow thru so far today...below there the monthly ascending trend line (green dotted) on daily chart below.

G/L
Attached Image (click to enlarge)
Click to Enlarge Name: dly.jpg Size: 167 KB
ex member
  • #343,591
  • Jul 5, 2013 2:36am Jul 5, 2013 2:36am
Buy Gbp/Usd @1.5030
SL : 1.4990
TP : 1.5750

GL
  • #343,592
  • Jul 5, 2013 2:45am Jul 5, 2013 2:45am
7,6% unemployment rate
  • #343,593
  • Jul 5, 2013 2:47am Jul 5, 2013 2:47am
Quoting davidsayli
Buy Gbp/Usd @1.5030 SL : 1.4990 TP : 1.5750 GL
Looks like we the only ones going long. My SL nearly reached @ 1.4995. I think we trading against the rest of the world.
  • #343,594
  • Jul 5, 2013 2:48am Jul 5, 2013 2:48am
shit just hit the fan! 1.5000 OUT cable!!!
  • #343,595
  • Jul 5, 2013 2:51am Jul 5, 2013 2:51am
aaarrrr got stop out. Happy for you chaps that were short. make some good pips
  • #343,596
  • Jul 5, 2013 2:52am Jul 5, 2013 2:52am
Quoting ferreira1239
{quote} Looks like we the only ones going long. My SL nearly reached @ 1.4995. I think we trading against the rest of the world.
the rest of the world is trading with you the only few of them going short with big CASH
  • #343,597
  • Jul 5, 2013 2:55am Jul 5, 2013 2:55am
This looks like a freefall to 1.48 is in the works now
  • #343,598
  • Jul 5, 2013 2:57am Jul 5, 2013 2:57am
Quoting Trader88q
{quote} the rest of the world is trading with you the only few of them going short with big CASH

LOL. Verry true.
  • #343,599
  • Jul 5, 2013 2:58am Jul 5, 2013 2:58am
4990 the current daily lo. taking stops out under the psychologically important 5000 level before the rally/pullback or just more downside ?

G/L
ex member
  • #343,600
  • Jul 5, 2013 2:59am Jul 5, 2013 2:59am
Quoting fxtyrant
we are approaching the time where fundamentals are going to move markets, and technicals will be disrespected
To each their own, but I would strongly advise that technicals agree with whatever the market does, including this current bearish movement.

I have a hard time believing the GBP/USD is going to rally back up to 1.56 after setting a new low with the current daily candle from thursday.

If you're a technical trader looking at where GBP/USD is headed in the near/moderate term, theres very little to stop this pair from retesting ~1.48...a solid break of this and you're going to have to look back at those monthly charts and see ~1.42 is the next clear defined support.

Someone said it earlier in the thread, but keep it simple. If you were holding on to a long cause you're anticipating a reversal so much of that was dismissed as soon as Thursday dropped like a rock over 200 pips, set a new low, and made the previous day's rally look pitiful.

Just my 2 cents, be safe with your trading, anyone looking to go long right now, should just do so with caution, Bears have the market atm, imo.
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