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Cable Update (GBPUSD)

  • #353,121
  • Nov 13, 2013 7:30pm Nov 13, 2013 7:30pm
Quoting aBitWonKy
{quote} to make a triple bottom you have to come DOWN first (anywhere in the market will do as timeframes give height a relative quality). It signifies rejection of a price following a down move. Reverse it for up moves and substitute the word bottom for top. But you already knew that right?
Indeed, but you seemed to be giving a different definition.

We seem to agree then, that triple bottoms happen at the bottom and double tops happen at the top.

Clarity, however, is more important than agreement.
  • #353,122
  • Nov 13, 2013 7:30pm Nov 13, 2013 7:30pm
Quoting aBitWonKy
{quote} to make a triple bottom you have to come DOWN first (anywhere in the market will do as timeframes give height a relative quality). It signifies rejection of a price following a down move. Reverse it for up moves and substitute the word bottom for top. But you already knew that right?
like this.... zoom out in your own charts to see where it is. not at the bottom of anything. but price rejected a level. twice. And for the m5 pivot naysayers.... rejection from S1 and a demand zone producing bullish PA formations to go long with a 5 pip SL. 4:1 RR. I'm short this pair and going to bed so i didn't take it. I like to be awake to scalp. But this is the kind of setup i love.
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  • #353,123
  • Nov 13, 2013 7:32pm Nov 13, 2013 7:32pm
Quoting Baggi
{quote} Indeed, but you seemed to be giving a different definition. We seem to agree then, that triple bottoms happen at the bottom and double tops happen at the top. Clarity, however, is more important than agreement.
you called it a triple bottom and a double top at a top, not me.
  • #353,124
  • Nov 13, 2013 7:38pm Nov 13, 2013 7:38pm
and you said a bottom was, "It signifies rejection of a price following a down move" and then you said, "but price rejected a level. twice."

You're saying the same thing I am, but you insist we aren't in agreement.

Weird.
  • #353,125
  • Nov 13, 2013 8:56pm Nov 13, 2013 8:56pm
this thing will drop and will badly drop again later . ill just play and party with Yellen later...
  • #353,126
  • Nov 13, 2013 9:10pm Nov 13, 2013 9:10pm
I agree and i think this time it will pull geppy off these highs, i am taking a geppy short too.
  • #353,127
  • Nov 13, 2013 9:24pm Nov 13, 2013 9:24pm
Quoting Pumpndump
I agree and i think this time it will pull geppy off these highs, i am taking a geppy short too.
no geppy! no! its long
  • #353,128
  • Nov 13, 2013 9:26pm Nov 13, 2013 9:26pm
target 160.500 up
  • #353,129
  • Nov 13, 2013 9:31pm Nov 13, 2013 9:31pm
Quoting Tiyaga
target 160.500 up
i have a different target but its gonna fall in my humble opinion i see 161.5 but im still taking a short
  • #353,130
  • Nov 13, 2013 9:35pm Nov 13, 2013 9:35pm
Quoting Tiyaga
cable long target 6033. geppy long 159.93x
above expectaions.
  • #353,131
  • Nov 13, 2013 9:37pm Nov 13, 2013 9:37pm
Quoting Pumpndump
{quote} i have a different target but its gonna fall in my humble opinion i see 161.5 but im still taking a short
wish you all the best
  • #353,132
  • Nov 13, 2013 9:40pm Nov 13, 2013 9:40pm
Fractals created at H4 with high at 1.6065 (still within margin of error 1.652 of my TL), supposedly now cable will go down from there.
too bad I cancel my pending short since I was going to sleep ,will look an entry point before retail sales out.
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  • #353,133
  • Nov 13, 2013 11:32pm Nov 13, 2013 11:32pm
Limit triggered
6050 Short
GC 68 Short
GA Too many shorts to mention
In trading, you have to be defensive and aggressive at the same time
  • #353,134
  • Nov 14, 2013 1:57am Nov 14, 2013 1:57am
Absolute manipulation - there is no volume and price is going up - I guess there are a lot of shorts that have to be eliminated.
  • #353,135
  • Nov 14, 2013 2:15am Nov 14, 2013 2:15am
It seems so... 1 and half hour before retail sales announcement, let's see how it will turn out...
Hopefully it's bad and bring cable down, but then again who knows

Quoting ravenbg
Absolute manipulation - there is no volume and price is going up - I guess there are a lot of shorts that have to be eliminated.
  • #353,136
  • Nov 14, 2013 2:52am Nov 14, 2013 2:52am
Expect that GBPUSD after yesterday break out through 1.6023 level will try to retrace to 1.6114 level. Look for long positions at 1.6005-10 level or if this fails 1.5958-63 level. On the other side look for short position around 1.6114-19 level. Check picture @ http://eurusd-price-action.blogspot....-setup_13.html
Price Action + KISS + PIE = Forex-Entourage
  • #353,137
  • Edited 3:53am Nov 14, 2013 3:09am | Edited 3:53am
£ index is has bounced at this 4hour UTL, I've added a short on the pair, short on gj too from 158-160.20 which was a mistake, hoping a push from here will help that out.
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  • #353,138
  • Nov 14, 2013 3:10am Nov 14, 2013 3:10am
I notice that 79% of lots here are short on the trade explorer. Uk Retail Sales due, 0.6% last time, 0.0% forecast....will we see a market reaction ? - will see what actual number is. Big bullish engulfing on the daily yesterday- are the bears so confident now this t/f has well and truly returned to the range ? Descending trend line on 4hr and daily tested at yesterday's hi. Daily chart below.

Best Wishes
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it's all gone a bit........
  • #353,139
  • Nov 14, 2013 3:16am Nov 14, 2013 3:16am
just short it! SL 10pips.
  • #353,140
  • Nov 14, 2013 3:23am Nov 14, 2013 3:23am
i hope there will be no surprises..... there's a possibility that this will go up but not a major uptrend then will consolidate .5 to .618 fib then go down us session....
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