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Cable Update (GBPUSD)

  • #346,041
  • Aug 29, 2013 12:17am Aug 29, 2013 12:17am
cable fairing well despite the dollar push north - looking toward 570s
  • #346,042
  • Aug 29, 2013 12:38am Aug 29, 2013 12:38am
Quoting chazzle
cable fairing well despite the dollar push north - looking toward 570s

Thats true charles but its gonna tank..is my feeling we aint ready for gbp strength just yet
  • #346,043
  • Edited 12:55am Aug 29, 2013 12:42am | Edited 12:55am
G/M

yesterday's daiiy candle - a pinbar (esq) type candle up from that previous 4hr/daily/minor weekly swing hi/lo zone (previous resistance tested as support again.)

Strong bounce up from there finding resistance at the previous 4hr swing lo zone now after 3-4 tests a previous 1hr/4hr swing hi zone ....has looked like strong resistance but greater probability is now for an upside break if tested ?

1hr mixed right now re opa 4hr similar...daily still in opa uptrend.

G/L
Attached Image (click to enlarge)
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ex member
  • #346,044
  • Aug 29, 2013 12:44am Aug 29, 2013 12:44am
Quoting bbmac
G/M yesterday's daiiy candle a pinbar up from that previous 4hr/daily/minor weekly swing hi/lo zone (previous resistance tested as support again.) Strong bounce up from there finding resistance at the previous 4hr swing lo zone now after 3-4 tests a previous 1hr/4hr swing hi zone ....has looked like strong resistance but greater probability is now for an upside break if tested ? 1hr mixed right now re opa 4hr similar...daily still in opa uptrend. G/L {image}

its not a pinbar..at least not a good one..it closed lower than the previous
  • #346,045
  • Aug 29, 2013 12:47am Aug 29, 2013 12:47am
Quoting nAVIN2007
{quote} Thats true charles but its gonna tank..
hey Nav, how so? - what are you seeing - nothing higher than D1 chart please
  • #346,046
  • Aug 29, 2013 12:55am Aug 29, 2013 12:55am
Hi Mate, I tend to agree - have altered to '...pinbar (esq) type candle...'

G/L

Quoting nAVIN2007
{quote} its not a pinbar..at least not a good one..it closed lower than the previous
ex member
  • #346,047
  • Aug 29, 2013 12:56am Aug 29, 2013 12:56am
Quoting nAVIN2007
{quote} Thats true charles but its gonna tank..is my feeling we aint ready for gbp strength just yet
hey bro, did carney's speech make you shit your pants yesterday??
don't worry too much, carney been telling the market that its not the market to decide when interest rate is gona rise, its the BOE, I love how carney came out yesterday saying, Screw you Market, We the BOE manages interest rates, not you pundits....

saying stuff like they don't expect rate rise until 2016 when they expect unemployment to drop to 7% and even if unemployment drops to 7% it does not automatically trigger, UK's Rate hike, but instead a through discussion to raise rates would begin.... so really 7% doesn't even guarantee rate rise... so really...
people got to stop challenging the central banks... we learned enough a lesson from BOJ and FED.... they are in charge, not HSBC, not Goldman, not JPM, not any commercial banks out there...

but you got to love how Carney's Dovish Speech caused the GBPUSD to shoot up.... classic manipulation that's what it is... Flushing out the poor Day Traders who are heavily short... and look at GBPUSD now... Resuming its down move... AHAHAHAH
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #346,048
  • Edited 1:21am Aug 29, 2013 1:01am | Edited 1:21am
Quoting chazzle
{quote} hey Nav, how so? - what are you seeing - nothing higher than D1 chart please

i will try and show with my time frames..i sure u will see what i see
I think cable is in a falling wedge..early i know but yah know me

im a long term bull so long term im bullish but i see a drop to 1.44 potentially b4 1.63

Cable daily is below trendline..still bear
and usd index is looking quite bullish..i fancy a bullish monthly just need a good gdp figure today..

let me know if u still want lower timeframe
charles i understand on the lower time scales it seems as if cable is forming a bull flag..but believe it is a fake signal
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  • #346,049
  • Aug 29, 2013 1:03am Aug 29, 2013 1:03am
Quoting fxtyrant
{quote} hey bro, did carney's speech make you shit your pants yesterday?? don't worry too much, carney been telling the market that its not the market to decide when interest rate is gona rise, its the BOE, I love how carney came out yesterday saying, Screw you Market, We the BOE manages interest rates, not you pundits.... saying stuff like they don't expect rate rise until 2016 when they expect unemployment to drop to 7% and even if unemployment drops to 7% it does not automatically trigger, UK's Rate hike, but instead a through discussion to raise...

i didnt even listen to him was to busy in superdrugs
i hope u right..the chart tells me that..assuming im reading it ok

yes what yur saying makes sense
  • #346,050
  • Aug 29, 2013 1:06am Aug 29, 2013 1:06am
Quoting nAVIN2007
{quote} i need even listen to him was to busy in superdrugs i hope u right..the chart tells me that..assuming im ready it ok
well you can see how banks flushed out all the poor day traders who were heavily in short prior to the speech....
but yea that's also why I wanted to take profit prior to his speech because I knew that the banks are gona take carney's speech as an opportunity to play games... and I guess I got out at the precise moment....
but im still seeing GBPUSD retesting 1.50 in the next month or so...
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #346,051
  • Aug 29, 2013 1:10am Aug 29, 2013 1:10am
Quoting fxtyrant
{quote} well you can see how banks flushed out all the poor day traders who were heavily in short prior to the speech.... but yea that's also why I wanted to take profit prior to his speech because I knew that the banks are gona take carney's speech as an opportunity to play games... and I guess I got out at the precise moment.... but im still seeing GBPUSD retesting 1.50 in the next month or so...

i hope so..i see gbp protected from a break of that line..this can potentially be a peak (high for cable for a while)..but ofcourse i can be wrong..lets face it wont be the first time
  • #346,052
  • Aug 29, 2013 1:24am Aug 29, 2013 1:24am
Quoting nAVIN2007
{quote} i will try and show with my time frames..i sure u will see what i see
your 2nd tl on GBP monthly chart not attached to a 2nd price point - don't understand why you put it there?

anyway - 3rd round of long scalps starting here ...
  • #346,053
  • Aug 29, 2013 1:27am Aug 29, 2013 1:27am
Looking closer in, 1hr is below...Asian session generally bearish with an early London session bounce up from current daily lo (5498) at Weekly S1 just below Daily Pivot...that previous 1hr/4hr swing hi above - oft tested .

G/L
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ex member
  • #346,054
  • Aug 29, 2013 1:40am Aug 29, 2013 1:40am
The poor day traders (and I am one of them) generally get what they deserve - for being any/all of the following: unprepared, unprofessional, overleveraged, trading what they think not what they see, and being heavily anything immediately prior to Carney and particularly given last time.

G/L


Quoting fxtyrant
{quote} well you can see how banks flushed out all the poor day traders who were heavily in short prior to the speech.... but yea that's also why I wanted to take profit prior to his speech because I knew that the banks are gona take carney's speech as an opportunity to play games... and I guess I got out at the precise moment.... but im still seeing GBPUSD retesting 1.50 in the next month or so...
ex member
  • #346,055
  • Aug 29, 2013 1:43am Aug 29, 2013 1:43am
Quoting bbmac
The poor day traders (and I am one of them) generally get what they deserve - for being any/all of the following: unprepared, unprofessional, overleveraged, trading what they think not what they see, and being heavily anything immediately prior to Carney and particularly given last time. G/L {quote}
well im not one of them, don't worry... I wouldn't be up 70% this month with recorded max 3% drawdown if I was as stupid as they are....
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #346,056
  • Aug 29, 2013 1:53am Aug 29, 2013 1:53am
Quoting chazzle
{quote} your 2nd tl on GBP monthly chart not attached to a 2nd price point - don't understand why you put it there? anyway - 3rd round of long scalps starting here ...

i have a predictive aspect to my edge, where i try and predict formations..u are right not technically correct
  • #346,057
  • Aug 29, 2013 2:00am Aug 29, 2013 2:00am
Quoting bbmac
The poor day traders (and I am one of them) generally get what they deserve - for being any/all of the following: unprepared, unprofessional, overleveraged, trading what they think not what they see, and being heavily anything immediately prior to Carney and particularly given last time. G/L {quote}
always reverse trades after GBP news
(I failed that too, but for this time)

15min through cloud
  • #346,058
  • Aug 29, 2013 2:02am Aug 29, 2013 2:02am
Quoting bbmac
Hi Mate, I tend to agree - have altered to '...pinbar (esq) type candle...' G/L {quote}

  • #346,059
  • Aug 29, 2013 2:35am Aug 29, 2013 2:35am
so after closing my positions on GBPUSD, and GBPJPY and EURUSD yesterday, im starting to build positions to Long the AUDUSD and NZDUSD.
hopefully they'll be profitable
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #346,060
  • Aug 29, 2013 3:00am Aug 29, 2013 3:00am
test short cable @ 5510 with tight SL @ 5530, based on 1h formation..
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