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Cable Update (GBPUSD)

  • #352,381
  • Nov 8, 2013 12:47am Nov 8, 2013 12:47am
Quoting _BBKing_
btw... i took the opportunity to trigger the first entry short in cable small one 1/3 than full position. i'm watching carefully to the 1.6115-6125 area where a strong bullish break could call a move till 1.6180 - 1.62... time will tell target not yet decided {image}
i closed this position right now.
have to leave the whole day and small confidence in the trade at the moment.

market will be here also next week!

good luck and have a great weekend everybody
90% of traders use TA, indicators and prediction
  • #352,382
  • Nov 8, 2013 12:58am Nov 8, 2013 12:58am
Quoting Wolf_Wicked
An option fade at 1.6050 or even 1.6100 looks like a goer. {image} W.W G/L
Quoting Wolf_Wicked
{quote} The decision won't be until Thursday anyway, once the excitement dies down, late money should be flushed back to the tech line(s).. My guess. wow this thread moves quickly lmao
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rgds
Walter Wolf
Howlin' at the Moon on the Roof
  • #352,383
  • Nov 8, 2013 1:17am Nov 8, 2013 1:17am
Howzit GU!

Macro theme's NFP S&P500 corrected watch for a further break below 1730 would cause a significant correction, I'm commenting on this as market highs and euphoria tend to proceed corrections. Even local EM ALSI is euphorically high and showing overbought.
Europe's EU rate-cut by 25 basis points was very interesting but for this thread most interesting was cable's rejection of the drag the EU initially placed on it

GU Daily

Trend technicals are up-sideways in a ranging market.

SMA's
Price is above the 200 & 50 but just below the 20,
there are no significant TL's

'Support & Resistance
Support @ 1.6 holds 1.5904 is the next major stop and still holds
Resistance @ 1.612x is significant as it would indicate a breakout to the upside and would confirm the up-trend to 1.626 <- break this and we fly up

RSI
No divergence left of significance and its looking probable that the RSI may break through the trend (looking bullish)

Candle sticks
Long legged Doji due to the position it may be telling us about a trend continuation?

I suspect NFP is going to miss (lots of distrust in the market of todays number) As usual its going to be interesting

My strategies will be on other pairs



G/L
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  • #352,384
  • Nov 8, 2013 1:35am Nov 8, 2013 1:35am
I sold my long because I don't want to risk a large downside move and I don't want to get stopped out at a loss while I sleep.

Will take up a new position next week.
  • #352,385
  • Nov 8, 2013 1:35am Nov 8, 2013 1:35am
Quoting JimmyC
Howzit GU! Macro theme's NFP S&P500 corrected watch for a further break below 1730 would cause a significant correction, I'm commenting on this as market highs and euphoria tend to proceed corrections. Even local EM ALSI is euphorically high and showing overbought. Europe's EU rate-cut by 25 basis points was very interesting but for this thread most interesting was cable's rejection of the drag the EU initially placed on it GU Daily Trend technicals are up-sideways in a ranging market. SMA's Price is above the 200 & 50 but just below the 20, there...

Hi Jimmy
My guess tonight is London sells because of NFP and I suspect numbers are not going to be negative.Its showing slight improvement of late.
We could go all the way back to 60 by 7:30am or I could be totally wrong.
Regards
In trading, you have to be defensive and aggressive at the same time
  • #352,386
  • Nov 8, 2013 2:00am Nov 8, 2013 2:00am
Quoting Davit
{quote} Hi Jimmy My guess tonight is London sells because of NFP and I suspect numbers are not going to be negative.Its showing slight improvement of late. We could go all the way back to 60 by 7:30am or I could be totally wrong. Regards
Hi Davit & WW

I was looking at UZ & UJ and noticed that the USDx didn't breakout convincingly in fact I think the QE story is keeping the dollar weak, I suspect the dollar crosses are going to hold strong despite NFP number in the longer term its going to be dependent on Tapering to come back into the market before the dollar really strengthens... This is I admit is a longer term view but I think Cable is looking very strong and is showing increasing strength. I'm waiting for a break of the range before I'm convinced though this week the range tightened into a retrace behaviour and structure. I think this will show us a full retrace and top-side breakout, she's gone data dependent again. I hate trading this condition...

Anyway just my thoughts, thanks for the views

G/L
  • #352,387
  • Nov 8, 2013 2:01am Nov 8, 2013 2:01am
ok ,in a nutshell I think we saw profit taking on $ yesterday ,school run to do


Quoting Bones
Hi T, im going to wait for close ,I think this must not print its pull back for test ? {image}
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #352,388
  • Nov 8, 2013 2:04am Nov 8, 2013 2:04am
eu has much to do to get over broken pivot and tl ,im saying straight ,not going to happen this week

Quoting Bones
im gonna stick to plan ,$ I think we seen highs this week ,its mighty long wick to lower ,but under pivot , prob not about $ this week .. {quote} {image}
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #352,389
  • Nov 8, 2013 2:06am Nov 8, 2013 2:06am
poss it would push up to test
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #352,390
  • Nov 8, 2013 2:35am Nov 8, 2013 2:35am
how I read cable ,could b wrong
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #352,391
  • Nov 8, 2013 2:47am Nov 8, 2013 2:47am
Quoting Bones
how I read cable ,could b wrong {image}
To me it looks like a rising wedge (bearish) with the characteristics of a double top in the making (also bearish)

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Those who say it cannot be done should not interrupt those who are doing it
  • #352,392
  • Nov 8, 2013 2:51am Nov 8, 2013 2:51am
Quoting PipTrapper
{quote} To me it looks like a rising wedge (bearish) with the characteristics of a double top in the making (also bearish) {image}
but when you zoom out, it starts to look like an inverted head and shoulders.
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Those who say it cannot be done should not interrupt those who are doing it
  • #352,393
  • Nov 8, 2013 2:52am Nov 8, 2013 2:52am
11 lot！！
狗大户！！
  • #352,394
  • Nov 8, 2013 2:52am Nov 8, 2013 2:52am
土豪，我们交往吧
  • #352,395
  • Nov 8, 2013 2:58am Nov 8, 2013 2:58am
Market will be like that until PFN, so abandon nest and back at US open.
  • #352,396
  • Nov 8, 2013 3:28am Nov 8, 2013 3:28am
Cable leaded the post FOMC & Rate recovery..
London boys now front running tonight's NFP party? next quarter session bar will shed more light..
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  • #352,397
  • Nov 8, 2013 3:30am Nov 8, 2013 3:30am
GU D1 H1

Bullish cable above this TL which coincides with yesterday's rebound swing mid 16062
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  • #352,398
  • Nov 8, 2013 3:44am Nov 8, 2013 3:44am
Quoting Bones
how I read cable ,could b wrong {image}
the big time frame read down according to me bro..i think u going to be ok..its just going to take a while..

stay strong amigo

edit:- also yesterday daily did break the low but failed to break the high of yesterday..body is small..that gotta make the bulls think ..the bears are back from moscow..bulls are indecisive i hope
  • #352,399
  • Nov 8, 2013 3:50am Nov 8, 2013 3:50am
Quoting PipTrapper
{quote} To me it looks like a rising wedge (bearish) with the characteristics of a double top in the making (also bearish) {image}
Good Day Gentlemen,

Hope your right, I've got a great deal of eggs in one basket though, I got some big nukes higher up to bring my average up if needs be.

Best Regards
  • #352,400
  • Nov 8, 2013 3:51am Nov 8, 2013 3:51am
what TimeFrame mate ???

Quoting nAVIN2007
{quote} the big time frame read down according to me bro..i think u going to be ok..its just going to take a while.. stay strong amigo edit:- also yesterday daily did break the low but failed to break the high of yesterday..body is small..that gotta make the bulls think ..the bears are back from moscow..bulls are indecisive i hope
not euphoria follower
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