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Cable Update (GBPUSD)

  • #350,961
  • Oct 28, 2013 11:44pm Oct 28, 2013 11:44pm
Quoting nAVIN2007
{quote} did u take a hit? or u still have original positions

Yepp closed all my previous shorts with a loss.I had to.It was going up like on steroids.
But feel more confident that I will recover my red inks.
Regards
In trading, you have to be defensive and aggressive at the same time
  • #350,962
  • Oct 28, 2013 11:45pm Oct 28, 2013 11:45pm
Quoting iNSIELD
{quote} yup I'm in the same trade also looking for at least 100

Nice! I am looking at EC short as well.
Regards
In trading, you have to be defensive and aggressive at the same time
  • #350,963
  • Oct 28, 2013 11:49pm Oct 28, 2013 11:49pm
Attention for everyone:

Daylight savings time has ended yesterday in London and Frankfurt.
New voice message: Why are you calling me? If I need you, I'll call you!
  • #350,964
  • Oct 29, 2013 12:10am Oct 29, 2013 12:10am
Good day to you,

Locked. Will re-enter if stopped out.

Will be looking for 1.6019

Regards
Attached Image (click to enlarge)
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  • #350,965
  • Oct 29, 2013 12:50am Oct 29, 2013 12:50am
So far rejected @ 1.6119
New voice message: Why are you calling me? If I need you, I'll call you!
  • #350,966
  • Oct 29, 2013 12:53am Oct 29, 2013 12:53am
Quoting Dapsychopath
{quote} nah told ya. so it went for 6166. next expect a retrace at 6120 before another breakdown. but for sure, its a break to the ground. still finding a bull? you need to have a magical power then to fight those tycoon. Now expect another 200 pips down at least. a long n good nap time for me now.
ok. so it missed 6120 by 1 pip. lol
now its down to earth time. be ready. get a grip.
let's see how it went. gl
  • #350,967
  • Oct 29, 2013 1:39am Oct 29, 2013 1:39am
Howzit!

GU Daily

We still have a market addicted to US QE into 2014, poorer data flows have begun to weigh on sentiment except in the EU where things are progressing at a moderate pace.

Technically
Range
We are in a sideways range from 1.6265 (Major Resistance) and 1.5947 (Major Support). The oblique major LT support has been broken and price now stands below with confirmation candles

MA's
We are above the 200,50 & 20 MA's there are some clear signs of institutional interest on the crosses (long term uptrend)

Candles
The Inside Bar (23 Oct) has been broken to the downside - change of ST trend indication
27 Oct The small shooting star (bullish body) reacted to the oblique broken resistance now support
28 Oct the bearish engulfing candle, reacted to the oblique resistance and broke below short term support with todays candle forming in bearish trend.

Divergence
From 2 Oct to 23 Oct negative or bearish divergence began to show from the RSI and then in confluence with the Stochastics, the RSI is now capped by a descending oblique resistance, since the last divergence on daily signal, divergence has become trend.

Events
http://www.forexfactory.com/calendar.php
GBP fairly low impact
USD some concern for the London afternoon session

The EU seems happy to gallop on (for Now) and seems supported at 1.377xx
DXY 79.41 pulling back after a small rebound yesterday... The dollar is indeed very weak

My cartoon...
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD2910Daily.png Size: 49 KB


Have a great day!



G/L
  • #350,968
  • Oct 29, 2013 1:50am Oct 29, 2013 1:50am
Quoting JimmyC
Technically Range We are in a sideways range from 1.6265 (Major Resistance)and 1.5947 (Major Support). The oblique major LT support has been broken and price now stands below with confirmation candles MA's We are above the 200,50 & 20 MA's there are some clear signs of institutional interest on the crosses (long term uptrend) G/L
I have no clue why you call 1.5947 a major support.
It's not a support at all.
New voice message: Why are you calling me? If I need you, I'll call you!
  • #350,969
  • Oct 29, 2013 1:53am Oct 29, 2013 1:53am
Quoting KillerWhale
{quote} I have no clue why you call 1.5947 a major support. It's not a support at all.
After 6 tests its held and turned last major up

Edit: when we break it: I'll move my stop there... gives 1.589 (if broken) some breathing room
  • #350,970
  • Oct 29, 2013 1:54am Oct 29, 2013 1:54am
I have now 7 entries in profit an 1 in loss.
+130 +96 +62 +18 +12 +11 +2 -18
New voice message: Why are you calling me? If I need you, I'll call you!
  • #350,971
  • Oct 29, 2013 2:25am Oct 29, 2013 2:25am
lol

Quoting Orly
{quote} A look at the one-minute chart will show you why it is the Bears who will have little to say by this time tomorrow.
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #350,972
  • Oct 29, 2013 2:36am Oct 29, 2013 2:36am
Quoting Orly
{quote} A look at the one-minute chart will show you why it is the Bears who will have little to say by this time tomorrow.
I don't think that people who even look at the 1 minute chart are real serious traders,
You start with the 15 minute chart, then go up to 1 hr, 2 hr, 4 hr and daily.
That's were you make profits.
New voice message: Why are you calling me? If I need you, I'll call you!
  • #350,973
  • Oct 29, 2013 2:37am Oct 29, 2013 2:37am
Once the 1.6155-60 level is broken we will expect that GBPUSD to start the down trend. Levels 1.6114-1.6118 and 1.6155-1.6160 are good places to open short position and join that trend.
Attached Image (click to enlarge)
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Price Action + KISS + PIE = Forex-Entourage
  • #350,974
  • Oct 29, 2013 2:46am Oct 29, 2013 2:46am
Quoting KillerWhale
{quote} I don't think that people who even look at the 1 minute chart are real serious traders, You start with the 15 minute chart, then go up to 1 hr, 2 hr, 4 hr and daily. That's were you make profits.
And who said, "Go to the one minute chart and trade from it?"
What I said was if you're a Bear, go to the one minute chart, have a look and reserve judgement for tomorrow. Your "plunging juggernaut" of a Bearish move has already retraced fifty percent.
Looking at the one minute chart should shut the Bears up until something actually happens.

Besides, who wants to be a "serious trader"? You don't seem to be having a whole lot of fun.

:0
  • #350,975
  • Edited 3:05am Oct 29, 2013 2:47am | Edited 3:05am
G/M

Eventually a downside follow thru on Friday's lo/close yesterday resulted in a bearish bodied daily candle...and in asian session a further leg down followed by a bounce up from around 23.6% 5425-6259/50% 5893-6256 and the topside of previous 4hr descending t/line (2nd test.) to the previous 1hr/4hr swing lo zone where so far support has become resistance. This further leg down breeches the 6114-6256/59 4hr opa range to the downside and now 1hr is in a general opa downtrend.

G/L
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ex member
  • #350,976
  • Oct 29, 2013 2:52am Oct 29, 2013 2:52am
4hr is below

G/L
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ex member
  • #350,977
  • Oct 29, 2013 2:55am Oct 29, 2013 2:55am
Quoting chuksbanor
Hi folks I have been in the business since 2011 but later chilled out 'cause of big loss but now am back and I believe for good. Please can someone be kind enough to teach me the way to use the fundamental analysis ?
FOMC can talk about tapering this Wednesday. Everything as of now is pointing towards it. Forward Guidance in UK has worked better than expected and US is going to follow the suit. And with the new lady on top expect people to look at this FOMC keenly for future clues and her mindset. From the outside of it, she seems to be pretty humble to me and to work 'for the poor' like Pope Francis and unlike Christine Laguarde who had been a terrible disappointment to everyone.
  • #350,978
  • Oct 29, 2013 3:09am Oct 29, 2013 3:09am
Quoting Purple
{quote} FOMC can talk about tapering this Wednesday. Everything as of now is pointing towards it. Forward Guidance in UK has worked better than expected and US is going to follow the suit. And with the new lady on top expect people to look at this FOMC keenly for future clues and her mindset. From the outside of it, she seems to be pretty humble to me and to work 'for the poor' like Pope Francis and unlike Christine Laguarde who had been a terrible disappointment to everyone.
yep..,good analyse,anyway thanks for stop vouching on me,u did wisely,take care and GL.

my best regards

Eitan.
when GOD brings you a challenge he also gives you the power to deal with it
  • #350,979
  • Oct 29, 2013 3:18am Oct 29, 2013 3:18am
rangy on the sub 1hr t/f's atm - 5min in desc channel.... 6114-6256/59 prev 4hr range bottom held on 1st re-test from underside.

G/L
ex member
  • #350,980
  • Oct 29, 2013 3:19am Oct 29, 2013 3:19am
Quoting RamsesII
Start of that 3 of 3 down or what?
One can dream. I know I will
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Those who say it cannot be done should not interrupt those who are doing it
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