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Cable Update (GBPUSD)

  • #349,941
  • Oct 22, 2013 11:49pm Oct 22, 2013 11:49pm
Quoting KillerWhale
I have no idea what fucked GU off, nothing on the calender, but fact is I'm 84 pips in profit!
My humble opinion: Asia stocks are down and JPY is down, so the market decided it's time to sell risky assets! Why now? Don't know, maybe everyone was sleeping during the US shutdown and they woke up now???
  • #349,942
  • Oct 22, 2013 11:50pm Oct 22, 2013 11:50pm
Quoting KillerWhale
{quote} Going for 1.55? that would be a blast! '
GU 15 min
Attached Image (click to enlarge)
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New voice message: Why are you calling me? If I need you, I'll call you!
  • #349,943
  • Oct 22, 2013 11:50pm Oct 22, 2013 11:50pm
actually gbp/usd should hit 1.64 now before any meaningful retrace
  • #349,944
  • Oct 22, 2013 11:54pm Oct 22, 2013 11:54pm
What happens with the Cable whe MPC data comes like forecast predicts 0-0-9? Hit 1.64 and then turn its way back?
  • #349,945
  • Oct 22, 2013 11:55pm Oct 22, 2013 11:55pm
Quoting giveachance
actually gbp/usd should hit 1.64 now before any meaningful retrace
Forget it, GU can't sustain these high levels!
New voice message: Why are you calling me? If I need you, I'll call you!
  • #349,946
  • Oct 22, 2013 11:56pm Oct 22, 2013 11:56pm
Quoting KillerWhale
{quote} Forget it, GU can't sustain these high levels!

whether it sustains or not is a diff question but when it broke 1.6225 those targets were open
  • #349,947
  • Oct 22, 2013 11:57pm Oct 22, 2013 11:57pm
jitters re Chinese bank defaults , known potential resistance at 6259 and some profit taking likely caused the fall from the 6256 current daily hi....Uk Boe MPC minutes today and Uk Q3 Gdp prelim Friday could cause movement and if positive - could see more upside...conversely if negative could see a deeper correction or more.

G/L
ex member
  • #349,948
  • Oct 22, 2013 11:58pm Oct 22, 2013 11:58pm
@KillerWhale
What's your opinion about MPC next hour ?
  • #349,949
  • Oct 23, 2013 12:01am Oct 23, 2013 12:01am
Quoting KillerWhale
{quote} GU 15 min {image}

If we don't head back up and break through resistance, you could be looking at an easy 500+ pips.
  • #349,950
  • Oct 23, 2013 12:02am Oct 23, 2013 12:02am
Quoting eitan1010
{quote} first tp achieved{image}
ok hinaf for now close 2 st tp
when GOD brings you a challenge he also gives you the power to deal with it
  • #349,951
  • Oct 23, 2013 12:04am Oct 23, 2013 12:04am
trying some longs from 6165, risking 30 pips...
Enter Signature
  • #349,952
  • Oct 23, 2013 12:06am Oct 23, 2013 12:06am
Quoting KillerWhale
{quote} Going for 1.55? that would be a blast! '

yeah potential to go much lower is there..i will be looking for much lower..but we going to have to see a reversal first
  • #349,953
  • Oct 23, 2013 12:06am Oct 23, 2013 12:06am
big 1hr bearish thrust close ! ...talk of demand at 6150 ?

G/L
ex member
  • #349,954
  • Oct 23, 2013 12:16am Oct 23, 2013 12:16am
Quoting KillerWhale
I have no idea what fucked GU off, nothing on the calender, but fact is I'm 84 pips in profit!
Forget the Fundies. Just listen to the charts & follow the lines. Speaking of lines. These ones show target expectations & speed bumps.........
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: gbpusdh4.png Size: 44 KB
Money Makes Money
  • #349,955
  • Oct 23, 2013 12:19am Oct 23, 2013 12:19am
Quoting KillerWhale
{quote} Going for 1.55? that would be a blast! '
It's in the 140's now.

Blast away.
  • #349,956
  • Oct 23, 2013 12:19am Oct 23, 2013 12:19am
Quoting nAVIN2007
{quote} yeah potential to go much lower is there..i will be looking for much lower..but we going to have to see a reversal first
We're right in the middle of a reversal
New voice message: Why are you calling me? If I need you, I'll call you!
  • #349,957
  • Oct 23, 2013 12:23am Oct 23, 2013 12:23am
Quoting KillerWhale
{quote} We're right in the middle of a reversal

relax there is no clear sign of reversal. if there was reversal it could have reversed when it was down at 1.59
  • #349,958
  • Oct 23, 2013 12:23am Oct 23, 2013 12:23am
After yesterday’s strong upward movement we expect some correction towards 1.6175-1.6180 level and if it fails next zone to watch is 1.6112-1.6117. At this levels we will be looking to open long positions in the attempt to join the uptrend. As always SL 10-15 TP 20-30.
Attached Image (click to enlarge)
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Price Action + KISS + PIE = Forex-Entourage
  • #349,959
  • Oct 23, 2013 12:24am Oct 23, 2013 12:24am
Quoting KillerWhale
{quote} We're right in the middle of a reversal

The bullish outlook on the gbpusd was great, thou should you look at higher timeframe charts, notice that there was an underlying resistance zone which might have something to do with the selling of this pair.

Again traders might want to look at higher timeframe charts, a big opportunity for position traders.
The market will deceive you. Make your own judgement.
  • #349,960
  • Oct 23, 2013 12:24am Oct 23, 2013 12:24am
Howzit!

Some deeply interesting data from US (NFP missed by 18%)
So no tapering... Last time this market knew that, we trended up...

GU Monthly
Just turned bearish pin
Attached Image


GU Weekly
Attached Image


GU Daily
Classic bearish divergence off yesterdays top bouncing a spot at the moment off a minor fib but has room till 1.612
1.607 would be a position of interest for the bulls looking for 1.638 and higher
The breach of 1.607 gives the bears 1.589 / 1.575 / 1.567
We are above the Golden cross (200,50 EMA - Institution Thinking)
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusddailydivergence.png Size: 47 KB


Are we at the turning point or will we rocket through 1.625 until the taper returns and the debt ceiling pokes its head out 15 Jan
Will Carney worry that the pound is hurting exports?

Lets trade the difference ...

Have a very good day


G/L
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