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Cable Update (GBPUSD)

  • #344,321
  • Jul 26, 2013 5:39am Jul 26, 2013 5:39am
Quoting mmudasir
{quote} it might be a False Break on Upside because your 1 hour chart Looks bearish to me one big hammer showed false break and then price close below the previous day high please Consider it

Don't forget that fact that we are in an uptrend. So better to watch out for possible reversal patterns
  • #344,322
  • Jul 26, 2013 6:14am Jul 26, 2013 6:14am
Quoting brendad
{quote} Don't forget that fact that we are in an uptrend. So better to watch out for possible reversal patterns
im actually short here..the moo has retraced 61.8..thou i think we are going higher..without gbp news today..i think it was wise to hedge and liquidate lower positions
  • #344,323
  • Jul 26, 2013 6:18am Jul 26, 2013 6:18am
Quoting nAVIN2007
{quote} im actually short here..the moo has retraced 61.8..thou i think we are going higher..without gbp news today..i think it was wise to hedge and liquidate lower positions
strong rejection on 1.5373 is indication it will flying high again, ... it also break daily fibo 61.8 at 1.539x area,,,,,
  • #344,324
  • Jul 26, 2013 6:24am Jul 26, 2013 6:24am
Quoting Red Alert
{quote} strong rejection on 1.5373 is indication it will flying high again, ...

im not to sure..i bought varries levels from 1.48 to here the thing that concerns me is gbp strength is limited ie weekly looks like a bear print..so i cant see this flying unless USD really become weak

I see at least a retrace, this is a good place i think
  • #344,325
  • Jul 26, 2013 6:33am Jul 26, 2013 6:33am
Quoting nAVIN2007
{quote} im not to sure..i bought varries levels from 1.48 to here the thing that concerns me is gbp strength is limited ie weekly looks like a bear print..so i cant see this flying unless USD really become weak I see at least a retrace, this is a good place i think
1.543 was always a target so lets see but for now I say we are in an area where it goes either way. My money is off table.
  • #344,326
  • Jul 26, 2013 6:35am Jul 26, 2013 6:35am
Quoting nAVIN2007
{quote} im not to sure..i bought varries levels from 1.48 to here the thing that concerns me is gbp strength is limited ie weekly looks like a bear print..so i cant see this flying unless USD really become weak I see at least a retrace, this is a good place i think
I am trying to plot fibo on daily, seems like the price above fibo 61.8, yesterday the price rejected by 50% fibo....
Overall in daily the price still under the cloud mean bearish still have a reason, but 61.8 fibo broken already...
Attached Image
  • #344,327
  • Jul 26, 2013 6:39am Jul 26, 2013 6:39am
Quoting Red Alert
{quote} strong rejection on 1.5373 is indication it will flying high again, ... it also break daily fibo 61.8 at 1.539x area,,,,,
I agree bro.
I'm holding out until 5750 at least, probably more
Come with me if you want to live....
  • #344,328
  • Jul 26, 2013 6:44am Jul 26, 2013 6:44am
Quoting Ill-b-back
{quote} I agree bro. I'm holding out until 5750 at least, probably more
Hi IBB, good luck bro........ as long as 1.528x as daily 50% fibo still hold, i think your bull will be save....yesterday seems like bears take control when the price around 1.5265, untill Fed rumour bring the price flying again....as usual sell the fact buy the rumour....
  • #344,329
  • Jul 26, 2013 6:46am Jul 26, 2013 6:46am
Quoting Red Alert
{quote} I am trying to plot fibo on daily, seems like the price above fibo 61.8, yesterday the price rejected by 50% fibo.... Overall in daily the price still under the cloud mean bearish still have a reason, but 61.8 fibo broken already... {image}

its never going to be exact..we are also 50% retrace of the pin..this area is no joke
i am not ignoring the pin on 1 hr chart might be a warning..USD needs to get weak if arnie gonna get his target

a drop of 120 pips or so..would give weekly a completely different view ..also a pin on monthly will confuse every1..which is what im going for..think like u have the power to make the market move..to make people lose money..an play those positions

going to be interesting
  • #344,330
  • Jul 26, 2013 6:55am Jul 26, 2013 6:55am
Quoting Red Alert
{quote} Hi IBB, good luck bro........ as long as 1.528x as daily 50% fibo still hold, i think your bull will be save....yesterday seems like bears take control when the price around 1.5265, untill Fed rumour bring the price flying again....as usual sell the fact buy the rumour....
Thanks mate.
There will be ups and downs along the way as usual but I have 3 small positions and ain't closing any of them until 5750.
Come with me if you want to live....
  • #344,331
  • Jul 26, 2013 6:56am Jul 26, 2013 6:56am
Quoting nAVIN2007
{quote} its never going to be exact..we are also 50% retrace of the pin..this area is no joke i am not ignoring the pin on 1 hr chart might be a warning..USD needs to get weak if arnie gonna get his target a drop of 120 pips or so..would give weekly a completely different view ..also a pin on monthly will confuse every1..which is what im going for..think like u have the power to make the market move..to make people lose money..an play those positions going to be interesting
Hi nav, just remind you, few weeks ago we have nice pin on weekly so everybody named it "water fall' where the price expected to fall 400-500 pips, i remember it was at 1.548x area, and now the price true 500 pips moving but in opposite ......
  • #344,332
  • Jul 26, 2013 6:59am Jul 26, 2013 6:59am
Quoting Red Alert
{quote} Hi nav, just remind you, few weeks ago we have nice pin on weekly so everybody named it "water fall' where the price expected to fall 400-500 pips, i remember it was at 1.548x area, and now the price true 500 pips moving but in opposite ......

yep..i bought at 1.48 to here..liquidate around 8 positions..market moves in swings, we had a swing from 1.48 to 1.54..this may be a peak to buy a dip opportunity..im off to work in around 20 minutes and wont take that chance, be lucky bro!
  • #344,333
  • Jul 26, 2013 7:03am Jul 26, 2013 7:03am
Quoting nAVIN2007
{quote} yep..i bought at 1.48 to here..liquidate around 8 positions..market moves in swings, we had a swing from 1.48 to 1.54..this may be a peak to buy a dip opportunity..im off to work in around 20 minutes and wont take that chance, be lucky bro!
Good luck bro.....
  • #344,334
  • Jul 26, 2013 7:12am Jul 26, 2013 7:12am
Quoting nAVIN2007
{quote} yep..i bought at 1.48 to here..liquidate around 8 positions..market moves in swings, we had a swing from 1.48 to 1.54..this may be a peak to buy a dip opportunity..im off to work in around 20 minutes and wont take that chance, be lucky bro!
Then we see things differently sir. For me indecision is a time to walk away. I am not a gambler. Your current account funds should be viewed as your money and you are not happy to lose 180 pips to note a trend reversal.
  • #344,335
  • Jul 26, 2013 7:33am Jul 26, 2013 7:33am
Quoting Pumpndump
{quote} Then we see things differently sir. For me indecision is a time to walk away. I am not a gambler. Your current account funds should be viewed as your money and you are not happy to lose 180 pips to note a trend reversal.
market is there to confuse there is no setup which is definite, every trade can go the other way, all u can do is play the %..everytime..if u can do this without hesitation, then yur an elite trader..im simply playing the %

believe me ..i enter completely under mm rules and dont take a penny of this for granted
good luck too u ..im off to work..be lucky!!

forex is probably the biggest risk to losing capital there is
  • #344,336
  • Jul 26, 2013 7:46am Jul 26, 2013 7:46am
Quoting nAVIN2007
{quote} market is there to confuse there is no setup which is definite, every trade can go the other way, all u can do is play the %..everytime..if u can do this without hesitation, then yur an elite trader..im simply playing the % believe me ..i enter completely under mm rules and dont take a penny of this for granted good luck too u ..im off to work..be lucky!! forex is probably the biggest risk to losing capital there is
Then good sir please tell me do you think the top of the daily clouds is a good target from here in terms of % Orr or what you will? As if you can provide good logic I will buy a dip. Like you I've been playing a bullish divergence for what seems like an age.

edit : apologies I am slathered, cognac would have got better of me, I meant weekly.
  • #344,337
  • Jul 26, 2013 7:53am Jul 26, 2013 7:53am
Quoting brendad
{quote} Don't forget that fact that we are in an uptrend. So better to watch out for possible reversal patterns
Dear brendad Uptrend is Uptrend Until it reverse but the false break and reversal show you some thing may be Uptrend Reversal or Uptrend Retracment because Price behavior showing it don't want to go up before down,Good Luck i am also in short
Trading by EA
  • #344,338
  • Jul 26, 2013 8:02am Jul 26, 2013 8:02am
Im short too... tp 5338 pips
  • #344,339
  • Jul 26, 2013 8:06am Jul 26, 2013 8:06am
Quoting khol_hands
Im short too... tp 50 pips
stochastic daily already cross to going down, pinbar h4. tl fibo and fibo retrace doesn't break 400 and TL SHS doesn' break too. good luck all
  • #344,340
  • Jul 26, 2013 8:21am Jul 26, 2013 8:21am
trading today's market condition isnt just worth it, i think monday/tuesday will present better opportunties. its in this kinda mkt conditions that moody's or s&p or some market maker comeout and say something n boom price moves over 50pips in 5 mins, erasing all the week's hardwork.
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