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Cable Update (GBPUSD)

  • #353,081
  • Nov 13, 2013 11:10am Nov 13, 2013 11:10am
bye. i have to rest now
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  • #353,082
  • Nov 13, 2013 11:11am Nov 13, 2013 11:11am
Quoting grand_dra9on
Everyone has a target around 58xx (including myself) and I just think to myself, is it possible that this is one of those MM's trap? *I have short order waiting at 1.6050 {quote}

I was looking below 1.58.

Not very good mm. Wide SL.

Need to restraint myself this is not the right way. But a fast way to lose money. :nerd:
  • #353,083
  • Nov 13, 2013 11:12am Nov 13, 2013 11:12am
Quoting fxlover11
{quote} No manipulation happen here. Have you any reason of saying it manipulation. Its just a quick correction . Nothing goes up or down in a straight way. If it is a bull run you will get second chance to ride there or if it is correction you will see 1.5800 very soon.
Those who say it cannot be done should not interrupt those who are doing it
  • #353,084
  • Nov 13, 2013 11:15am Nov 13, 2013 11:15am
Quoting Tiyaga
bye. i have to rest now {image}
Yip - I do.

Here is a subtle warning for you. As soon as you think you got this - it will f*ck you up.

Rest well.
  • #353,085
  • Nov 13, 2013 11:17am Nov 13, 2013 11:17am
Quoting Tiyaga
bye. i have to rest now {image}
Is that you?
Those who say it cannot be done should not interrupt those who are doing it
  • #353,086
  • Nov 13, 2013 11:17am Nov 13, 2013 11:17am
Quoting TauTrader
{quote} Yip - I do. Here is a subtle warning for you. As soon as you think you got this - it will f*ck you up. Rest well.
Those who say it cannot be done should not interrupt those who are doing it
  • #353,087
  • Nov 13, 2013 11:25am Nov 13, 2013 11:25am
Quoting Daddypips
{quote} May I ask what was your reason for this trade?

Yes you may. Does IW range template says you anything?
Twitter: MrC_Forex ; Facebook: /pages/MrC-Forex/197693770247397
  • #353,088
  • Nov 13, 2013 11:48am Nov 13, 2013 11:48am
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  • #353,089
  • Nov 13, 2013 12:06pm Nov 13, 2013 12:06pm
Quoting PipTrapper
{quote} You mean you don't have a gun in your head?

nope, but it sure feels like this now.
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  • #353,090
  • Nov 13, 2013 12:14pm Nov 13, 2013 12:14pm
when i think the bear then this monster turned into the bull
and now this monster seems to still want to go up to 1.61 or even more... whew !
  • #353,091
  • Nov 13, 2013 12:23pm Nov 13, 2013 12:23pm
Bears must be thinking again ? ...lots of them squeezed out on this run up from yesterday's low ? Well as others have said here - it was the most likely outcome re those unemployment numbers earlier then Carney - market still not quite buying into his assertions re rate rise yes it seems....some 'weaker' bears blind to that / living in hope land. Will spare capacity in economy keep inflation 'anchored' thereby knocking out one of his 'knock outs' re a sooner rate rise ? Will today's daily candle end up bullishly engulfing yesterday's daily candle ? Daily 'rangy' still - neither one thing or the other as it stands ? - certainly not out and out bearish and never was really.

Best Wishes.
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it's all gone a bit........
  • #353,092
  • Edited 12:49pm Nov 13, 2013 12:35pm | Edited 12:49pm
Quoting PipTrapper
US Dollar pullback and retest of trend line resistance turned support... Complete. {image}
Only may be !! in H4 tf also & more to correct here before further up , so today & tomorrow & even friday ok for action down here & others up !!
Corresponding gu , OK GO!
fontu
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #353,093
  • Nov 13, 2013 1:03pm Nov 13, 2013 1:03pm
My chart still shows 5700 is due
The Phoenix Trader....
  • #353,094
  • Nov 13, 2013 1:07pm Nov 13, 2013 1:07pm
Quoting ffleo
{quote} stick to one direction, do not flip very often. the market will chop one to death if one flips frequently. Close part of position when market goes your way, reload back later when market goes against you (I call it scale in and scale out).

Now I think is the point where I find a spot to add to my position?

Looks like I made quite a bit while I slept. I'd have been up much earlier and maybe even sold, but due to twisting my back this past weekend, I took a lot of pain killers last night and slept a long time. Now I'm up quite handsomly and removed my stop.

Now to figure out, what's next?
  • #353,095
  • Nov 13, 2013 1:08pm Nov 13, 2013 1:08pm
BTW, can anyone tell me if I have my 200 sma set correctly on the hourly?

On my chart, it looks like we are now trading above the 200 sma.
  • #353,096
  • Nov 13, 2013 1:14pm Nov 13, 2013 1:14pm
Quoting sunilpawar
My chart still shows 5700 is due
likely as is next swing target at down but after min 3 weeks or more , apparently , crush at weekend or so around 6160/41 if then early only possible as of previous theory.
fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #353,097
  • Nov 13, 2013 3:03pm Nov 13, 2013 3:03pm
Howzit GU!

Please note the falling wedge behaviour on the medium term chart, the break of 1.6 is a cautionary note to this chart
Short the break (and confirmation) of 1.589xx and target 1.555 This is a medium term trade and will require two weeks to execute. !.5974 would be the Stop Loss on this trades,

Wait for the market, don't chase it.

J
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  • #353,098
  • Nov 13, 2013 3:14pm Nov 13, 2013 3:14pm
Hello JimmyC!

As far as charts are concerned, what I'm seeing is a triple bottom (And gap fill) and a double top.

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Seems to me we are trading in a range right now.
  • #353,099
  • Nov 13, 2013 3:42pm Nov 13, 2013 3:42pm
I moved out of my position for a nice little gain today.

Short term, I think JimmyC is correct and we're hitting the upper edge of a falling wedge. With today's large up candle, I expect tomorrow to be a partial retrace.

At that time I'll look for a point to re-enter.

If we continue up strong, I'll wait a few days+ for the correction to re-enter long.
  • #353,100
  • Nov 13, 2013 4:42pm Nov 13, 2013 4:42pm
sl got hit. still bearish... gonna wait for re entry
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