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Cable Update (GBPUSD)

  • #345,541
  • Aug 20, 2013 11:24am Aug 20, 2013 11:24am
good day,

I am marking 1.55746. Think I will build a longer term short there. Just opinion. Trade your plan.

Regards
  • #345,542
  • Aug 20, 2013 11:40am Aug 20, 2013 11:40am
Quoting geniusztc
I think it's a chance to short the GBPUSD. {image}
that is the first chart which has a valid trendline in it - an upper one, lower is broken and unusable, nice catch! didnt see that, it changes a lot on my perspective
  • #345,543
  • Aug 20, 2013 11:49am Aug 20, 2013 11:49am
This bull run was slow and it is more likely to continue tomorrow
The fragrance remains in the hands of those that gves the rose
  • #345,544
  • Aug 20, 2013 11:55am Aug 20, 2013 11:55am
Quoting okosodo
This bull run was slow and it is more likely to continue tomorrow

I am not an Elliot Wave guy AT ALL - but I know that Elliot Wave people would probably have a different view -

Lots of times a pattern like this that grinds higher slowly is hammered back down in a speedy fashion.......

Still watching.......

Just wanted to post because this place is sooooooooooooo quite these days!

Faller.
I don't trust any move - when you have profit...take it.
  • #345,545
  • Aug 20, 2013 11:57am Aug 20, 2013 11:57am
Reaching stronger resistance levels at this time. Expecting a little retrace to 1.5576 from these levels before anything drastic happens. Will add as we approach those.

Regards
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdh4.png Size: 63 KB
  • #345,546
  • Aug 20, 2013 12:27pm Aug 20, 2013 12:27pm
Quoting TauTrader
Reaching stronger resistance levels at this time. Expecting a little retrace to 1.5576 from these levels before anything drastic happens. Will add as we approach those. Regards {image}

I have 1.5588 but as I trade the futures - the price is off from spot by about 3 - 5 pips......but we are in the same ball park.....thing is, if price does move to the 1.5576 - 1.5588 area the last 2 times price came DOWN to those levels price kept moving further by more the a couple of hundred pips.

This is trading - this is price action - right now a short will be technically based on previous responses at these levels - but the past does not always predict the future.

This is why trading is so much fun!

Hope everyone is doing well -

Sunny Blue Skies where I am -

Cheers,

Faller.
I don't trust any move - when you have profit...take it.
  • #345,547
  • Aug 20, 2013 12:34pm Aug 20, 2013 12:34pm
whats up bro
  • #345,548
  • Aug 20, 2013 12:41pm Aug 20, 2013 12:41pm
Quoting Faller
{quote} I have 1.5588 but as I trade the futures - the price is off from spot by about 3 - 5 pips......but we are in the same ball park.....thing is, if price does move to the 1.5576 - 1.5588 area the last 2 times price came DOWN to those levels price kept moving further by more the a couple of hundred pips. This is trading - this is price action - right now a short will be technically based on previous responses at these levels - but the past does not always predict the future. This is why trading is so much fun! Hope everyone is doing well - Sunny...
Good day to you, Faller

Your statement rings very true. My current short is based on exactly that - previous responses under similar conditions. Although i'm going with the indicator position rather than where price is at present.

Let us observe as this area unfolds.

Winter is winding up on my side and looking forward to spring. Dislike the cold..

Regards to your loved ones and all success to you

Take care
  • #345,549
  • Aug 20, 2013 12:43pm Aug 20, 2013 12:43pm
Quoting PoundTrader
whats up bro

good to see you -

life is good....hope you are well.


Faller.
I don't trust any move - when you have profit...take it.
  • #345,550
  • Aug 20, 2013 12:52pm Aug 20, 2013 12:52pm
Quoting Faller
{quote} good to see you - life is good....hope you are well. Faller.
all is good
  • #345,551
  • Edited 2:40pm Aug 20, 2013 2:02pm | Edited 2:40pm
Quoting bbmac
Strong up day so far on the correlated Eurusd...with a H above it's last 2 x previous swing hi's on daily (points a & b) and the significant swing hi at 3417 a previous daily/weekly swing hi (point c.) Is this an omen for cable ? G/L {image}
yeah they are doing with some extra-ordinary success , should be more in gu than eu because eurgbp broken down & running but opposite happening, a divergence in the exchange prices !. eu still ok for the action down & strong at 3461, breaks go 3600 & even 3710 previous high as already broken previous swing highs . anyway it should be more prone to break down than gu and both should again against aud next session when start as gbpaud & euraud both waiting for good correction with audusd continue down or stagger around bottom level.
Not know the level now of usdx , should be over 81/80 , yes to check soon .last bid 81.30 , enough high but here also aborting more lethal diamond swing activation to lesser lethal expanding triangle , so even test 80 , previous low or little low , can easily survive great down & great & long lasting US recession again , never seen before . I am in favor usdx sustain for longer period over 80, few years !!
lets see .
fontu
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurusdweekly.png Size: 47 KB
Click to Enlarge Name: eurusdmonthly.png Size: 43 KB
Click to Enlarge Name: eurgbpdaily.png Size: 42 KB
Click to Enlarge Name: euraudweekly.png Size: 34 KB
Click to Enlarge Name: gbpaudweekly.png Size: 31 KB
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #345,552
  • Aug 20, 2013 3:10pm Aug 20, 2013 3:10pm
Quoting Ulterior
{quote} my target is 1.5780 - just bellow the new ascending TL, but life is full of accidents so I put SL at BE
Indeed it is, always wear your seatbelt, anything can happen
Come with me if you want to live....
  • #345,553
  • Aug 20, 2013 3:14pm Aug 20, 2013 3:14pm
Quoting TauTrader
{quote} good day to you, IBB Let us see where she is going.. I'm preparing to short - but it is a slow process. Still do not see it yet.. I'm sitting on AUD trade with a few eggs in there and just entered a small short on EU as a starting point. But may be too early there too. Wish you all the best
Hi TT, hope you are well, all the best for what goes up must surely come down
Come with me if you want to live....
  • #345,554
  • Aug 20, 2013 3:19pm Aug 20, 2013 3:19pm
hello guys gbpusd going upward or going down from this level can anyone guide me??
  • #345,555
  • Aug 20, 2013 4:21pm Aug 20, 2013 4:21pm
Gidday Umair

Yeah big problem for all of us traders

A lot off chat 1.5750 GBP/US

Got a small long in

sort of thinking if EUR/US keeps climbing

GBP will follow

this sucker can drop its load in a a heart beat
  • #345,556
  • Aug 20, 2013 4:56pm Aug 20, 2013 4:56pm
Quoting umair55
hello guys gbpusd going upward or going down from this level can anyone guide me??
Yup, I can! Toss a coin
  • #345,557
  • Aug 20, 2013 6:14pm Aug 20, 2013 6:14pm
Quoting umair55
hello guys gbpusd going upward or going down from this level can anyone guide me??
FMOC can tell you, wait patiently

http://www.forexfactory.com/calendar.php?day=aug22.2013
It takes a lot for me to IGNORE you, but you can try.
  • #345,558
  • Aug 20, 2013 7:02pm Aug 20, 2013 7:02pm
Quoting TauTrader
I am marking 1.55746. Think I will build a longer term short there.
I am puzzled why you would want to wait until the price descends 100 pips. Is there perhaps something I am missing?
  • #345,559
  • Aug 20, 2013 7:23pm Aug 20, 2013 7:23pm
perhaps this will play out:

http://www.forexfactory.com/showthre...64#post6907064
  • #345,560
  • Edited 7:25pm Aug 20, 2013 7:24pm | Edited 7:25pm
Quoting karelk
{quote} I am puzzled why you would want to wait until the price descends 100 pips. Is there perhaps something I am missing?

It takes time and experience to understand these things - I am not being rude.....it is just something that happens to seasoned traders - they are able to look at areas on the chart and not be worries about the 100 pip move that just happened -

Once you realize that what you missed may actually be smaller then what you can gain - then you are moving in the right direction of a successful trader.

Cheers,

Faller
I don't trust any move - when you have profit...take it.
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