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Help Me Establish The GbpUsd After Dinner Club 40 replies

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  • #9,181
  • Sep 23, 2013 7:08am Sep 23, 2013 7:08am
Quoting PipTrapper
{quote} Yep I have 3485 on my radar as critical support for intraday, but mid term, it's 3315/25 area
We have arrived. Price hammering at 1.3485 support. A confirmed break here and the next major level should be a test of 1.3325 area
Those who say it cannot be done should not interrupt those who are doing it
  • #9,182
  • Sep 23, 2013 7:19am Sep 23, 2013 7:19am
Quoting Islander
Initial small sell in Cable at 1.6065....now about to hear what Signore Draghi has to say.....
and I banked after the nice 50 pip drop to today's DP.....took some from a sell in Euro too
Trading Levels with WRBs
  • #9,183
  • Sep 23, 2013 7:21am Sep 23, 2013 7:21am
Quoting OfWolfAndMan
{quote} Whats your target buddy..?
back now. 3451 my target H4 kijun sen.

also left some for 3350
looking for investors . pm me
  • #9,184
  • Sep 23, 2013 7:45am Sep 23, 2013 7:45am
Quoting PipTrapper
{quote} There might even be some potential for parity if US data sucks. Parity is the broken triangle support line {image}

with AUD it's 50-50. It all depends whether you see the glass have full or half empty. Or in your case a fishtank filled with water with lots of cracks in it

anyway, the water level:

half empty:

* If Octaper gets headlines and becomes the central theme. Emerging market will eventually drag this bastard six feet under IF the FED should ever tighten.
* RBA's wet dream to see it 85 and lower i guess

half full:

* yield
* improved china data recently (no idea whether it's sustainable)
*was massively oversold without a pullback (but that's history now that it has already retraced like 700 points)
  • #9,185
  • Sep 23, 2013 7:48am Sep 23, 2013 7:48am
Quoting lumesh
{quote} with AUD it's 50-50. It all depends whether you see the glass have full or half empty. Or in your case a fishtank filled with water with lots of cracks in it anyway, the water level: half empty: * If Octaper gets headlines and becomes the central theme. Emerging market will eventually drag this bastard six feet under IF the FED should ever tighten. * RBA's wet dream to see it 85 and lower i guess half full: * yield * improved china data recently (no idea whether it's sustainable) *was massively oversold without a pullback (but that's...
Agreed and yes; the fish tank full of hairline cracks

As long as we see 9600/20 area, I am ready to throw a short order at it and then see what happens from there.
All I want to see is a slight breach of the 200 day MA

ADD: Just placed a pending sell limit order at 9600
Those who say it cannot be done should not interrupt those who are doing it
  • #9,186
  • Sep 23, 2013 8:55am Sep 23, 2013 8:55am
Quoting PipTrapper
{quote} We have arrived. Price hammering at 1.3485 support. A confirmed break here and the next major level should be a test of 1.3325 area
Hello,
Risk is still 1.3571 to 1.3590.

I will swing sell then with 100 pip stop. ( Reward is 500 pip to 1200 pips)hopefully.

Doors are wide open to the downside....but Mofu is still Bullish.
Markets are not Random, they are designed!
  • #9,187
  • Sep 23, 2013 8:56am Sep 23, 2013 8:56am
Lieber Markus!
Herzliche Geburtstagsgrüsse aus der Schweiz.
FXcube
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  • #9,188
  • Sep 23, 2013 8:57am Sep 23, 2013 8:57am
Quoting PipTrapper
On Cable, weekly is starting to look overbought. So one more push up to make a new high should give us the bearish div we need to push this sucker down. Lots of confluence around these levels up to 1.6325 area. We have triangle top wave E (which typically does not touch the triangle resistance before dropping). Supply zone starting around 6155 which has already been tested once and aggressively rejected last week. Stronger supply zone at the triangle resistance around 6330 (which will likely attract large sellers before it is reached) 6330 is also...

Everything what you said, happend...
  • #9,189
  • Sep 23, 2013 9:00am Sep 23, 2013 9:00am
Quoting paul-fx
{quote} Everything what you said, happend...
6330 has not happened yet.
Markets are not Random, they are designed!
  • #9,190
  • Sep 23, 2013 9:06am Sep 23, 2013 9:06am
Quoting Raza
{quote} 6330 has not happened yet.
No need for 6330, stop hunt + huge players closed position after fed spike.
  • #9,191
  • Sep 23, 2013 9:46am Sep 23, 2013 9:46am
Quoting Raza
{quote}Doors are wide open to the downside....but Mofu is still Bullish.
Hi Raza, what is Mofu ?
  • #9,192
  • Sep 23, 2013 10:00am Sep 23, 2013 10:00am
Quoting venzen
{quote} DHT, very informative - thanks for this. i have one reservation: the final "C" label on that last chart does not look valid to me... but that's minor - the first two charts say a whole lot!
you (and others) are a lot better at EW than I am, so I will defer to your better judgement...

but, Jim Rogers is calling it down to $900... now I don't really trust his calls in general, but he has been selling gold, publicly, for a couple of years now..

maybe worth a consideration...

the monthly allows for a retrace to ~$900 (78.6) while remaining in a secular bull market... fundamentally, its a confusing picture... i think a lot of traders are still hung over from last Wednesday!

I think we can easily get into the low 1400's before resuming the down trend... I have been a bit tied up so not many charts from me in the last few days, hopefully I will be able to get to it soon

cheers!
90% of people, are wrong about 90% of everything, 90% of the time...
  • #9,193
  • Sep 23, 2013 10:11am Sep 23, 2013 10:11am
Quoting paul-fx
{quote} Everything what you said, happend...
It's not over till the fat lady sings and she is not even on stage yet.
Let's see if the fat lady sings later this week with the US debt limit debate and Thursday's US Jobless Claims report.

Inserted Video
Those who say it cannot be done should not interrupt those who are doing it
  • #9,194
  • Sep 23, 2013 10:15am Sep 23, 2013 10:15am
Quoting Raza
{quote} Hello, Risk is still 1.3571 to 1.3590. I will swing sell then with 100 pip stop. ( Reward is 500 pip to 1200 pips)hopefully. Doors are wide open to the downside....but Mofu is still Bullish.
Yes of course. I fully expect higher levels to complete the missing wave 5
What I was referring to was the wave 4 low which I have not seen yet.
I suspect that low will come in around 3325 area, but this wave 4 may also go sideways.
If I see 3325 (approx), I'll participate in a long position for a couple hundred pips, otherwise I will wait for wave 5 completion before levering up on the shorts.
Those who say it cannot be done should not interrupt those who are doing it
  • #9,195
  • Sep 23, 2013 10:16am Sep 23, 2013 10:16am
Quoting andexQ
{quote} Hi Raza, what is Mofu ?
Lol. You don't wanna know. I will PM you later.
Markets are not Random, they are designed!
  • #9,196
  • Sep 23, 2013 10:30am Sep 23, 2013 10:30am
Quoting andexQ
{quote} Hi Raza, what is Mofu ?
What I know about mofu is that it is a marketing term signifying the "middle of the funnel" where sales leads usually stagnate or die off.
I have no idea why this term is used in FX, but using deductive logic, if it is derived from the above mentioned marketing term, it could be used to refer to a price zone where both buyers and sellers dwindle off or fight each other... such as an indecision or uncertainty zone.
Those who say it cannot be done should not interrupt those who are doing it
  • #9,197
  • Sep 23, 2013 10:36am Sep 23, 2013 10:36am
Quoting Raza
{quote} Lol. You don't wanna know. I will PM you later.
No.. don't,
I already know what mofu is... http://www.urbandictionary.com/define.php?term=Mofu

Lol.. nice to meet you Raza
  • #9,198
  • Sep 23, 2013 10:37am Sep 23, 2013 10:37am
Quoting theDHT
{quote} you (and others) are a lot better at EW than I am, so I will defer to your better judgement... but, Jim Rogers is calling it down to $900... now I don't really trust his calls in general, but he has been selling gold, publicly, for a couple of years now.. maybe worth a consideration... the monthly allows for a retrace to ~$900 (78.6) while remaining in a secular bull market... fundamentally, its a confusing picture... i think a lot of traders are still hung over from last Wednesday! I think we can easily get into the low 1400's before resuming...

I just saw this. Been trading divergence/undivergence on RSI & Stochastic on Gold since Asian open - exhaustion setting in but always have time for discussion!

About upside/downside I'm currently relying on RSI for this - logic being that if i'm in a trade and a rally or a drop develops I can ride it until divergence/reverse divergence (hidden) says get out. So I hear you on the downside targets and agree the fundamental picture is confusing. Hence my strategy.

Non-technical but i noticed a few minutes ago that a familiar pattern is showing up in Gold and Silver. Check Silver H3 between June 28 - July 23. There's a diagonal that stairsteps upward at an oblique angle. It's composed of ABCs: 3w up, 3w down, repeat.. Those structures are showing up in SIlver and Gold M5 and M15 at the moment - but more tradeable in Gold. The C waves are profitable and without making an ass out of "u" and "me", I think we can expect pretty much the same wave development as Silver shows during and after those dates mentioned above. So (by this pattern) we're in either a wave 2 or 4 of the current wave decline. Main trend down also fits RSI analysis at all TFs except daily which is ambivalent.

In terms of present action mimicking the pattern identified above, we are currently at the end of wave 3 with 4 and 5 to follow. Some TLs might clarify this
cryptocurrency everytime
  • #9,199
  • Sep 23, 2013 10:47am Sep 23, 2013 10:47am
Quoting PipTrapper
This cannot be good for Canada. Incidentally, I still use a Blackberry. Should I be worried? BlackBerry to slash 4,500 jobs in restructuring http://www.cnbc.com/id/101031117

BlackBerry announced that it has agreed to be purchased by a consortium led by Fairfax Financial Holdings for $9 a share in cash in a deal valued at approximately $4.7 billion.

Read more:

http://www.cnbc.com/id/101054768

Those who say it cannot be done should not interrupt those who are doing it
  • #9,200
  • Sep 23, 2013 10:48am Sep 23, 2013 10:48am
Quoting andexQ
{quote} No.. don't, I already know what mofu is... http://www.urbandictionary.com/define.php?term=Mofu Lol.. nice to meet you Raza
Lol
Likewise AndexQ.
Markets are not Random, they are designed!
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