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Cable Update (GBPUSD)

  • #354,001
  • Nov 22, 2013 4:35am Nov 22, 2013 4:35am
Quoting Pumpndump
{quote} Sir, my solution is big bollocks and short this thing down 2000 pips hopefully. As long as my rr lines up I will take any bet, I'm not worried if I need to be in the trade for a long while. Best Regards

cable im not so concerned about even though thats the trade im in heavy but geppy is crazy bullish after yesterday..yes must remain calm!!
plz stop calling me sir, sir
  • #354,002
  • Nov 22, 2013 4:36am Nov 22, 2013 4:36am
Quoting ffleo
{quote} technically speaking the following pattern mostly ends up in a drop. {image}
Ok as one 5th wave or extension in shorter time & next little bigger one where top can be 6273,6300,6325 & 6380+.
so for same top> as any channel,wedge,expanding triangle or any such thing for immediate correction as far possible , min ok till 5988 just break & bounce towards those tops again , activation bull set up. even no bull can work full fledged for one full leg up /fails at those next tops or early even for further more correction towards 6000 or down 5850 breaks or not fgor reactivation bull set up again for the last time .So bull to fail only for bear to come up .now or then or then!

Bull targets goes to min 6260 & next 6381 with or without correction if this week or next week perhaps .
fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #354,003
  • Nov 22, 2013 4:40am Nov 22, 2013 4:40am
Hello thread members,

More strength yesterday then after 3 days of indecision reflected on the daily candles, That 6256/59 recent hi moves into view just above current hi today of 6215 - Weekly R1 is there....and some sellers

Daily is still in the range with this recent strength. According to trade explorer here - 80% of lots short ! - a lot of short stops will already have been taken and looking back at thread - some of the longer term bears here positions. When it was so obviously looking increasingly bullish from a fundamental and technical perspective I hope no newer traders have bought in thus far to the bearish story told by some so far. To be fair to them - it is just one scenario out of likely many they trade so one swallow doesn't make a summer etc...But that is the problem with this site - frequent posters with lots of vouchers are assumed to be the better traders / experienced and in reality none of us know who the good traders are - even the trade explorer is to a some extent depending on your point of view - unreliable a guide to this.


Best Wishes
Attached Image (click to enlarge)
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it's all gone a bit........
  • #354,004
  • Nov 22, 2013 4:48am Nov 22, 2013 4:48am
Does a move north out of the monthly triangle look more likely at some stage? - will be interesting to see how the weekly, then the monthly closes next week.

Best Wishes.
Attached Image (click to enlarge)
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it's all gone a bit........
  • #354,005
  • Nov 22, 2013 4:53am Nov 22, 2013 4:53am
U.s tapering is probably the biggest threat to sustained £ strength against $ ?...http://www.efxnews.com/story/21777/t...argeting-08900 will it be 'Dectaper,' now ? - being talked up now (then again so was ' Septaper ' lol !) ?

Best Wishes.
it's all gone a bit........
  • #354,006
  • Nov 22, 2013 4:57am Nov 22, 2013 4:57am
Quoting petetong
Hello thread members, More strength yesterday then after 3 days of indecision reflected on the daily candles, That 6256/59 recent hi moves into view just above current hi today of 6215 - Weekly R1 is there....and some sellers Daily is still in the range with this recent strength. According to trade explorer here - 80% of lots short ! - a lot of short stops will already have been taken and looking back at thread - some of the longer term bears here positions. When it was so obviously looking increasingly bullish from a fundamental and technical perspective...

where is your nearest long position on GU right now?
14QDuJtV7okxhBzC86FwawaR6tV5LvetLq
  • #354,007
  • Nov 22, 2013 5:07am Nov 22, 2013 5:07am
Quoting petetong
Does a move north out of the monthly triangle look more likely at some stage? - will be interesting to see how the weekly, then the monthly closes next week. Best Wishes. {image}

u tell us?
  • #354,008
  • Nov 22, 2013 5:34am Nov 22, 2013 5:34am
Quoting nAVIN2007
{quote} u tell us?
it looks more likely than not doesn't it particularly given September's candle...U.s tapering effect excepted. Speaking of Geppy (GJ) - may be breaking to north of that former swing hi on monthly after the effective double bottom and re-test. Likely some fibs inbetween there and the next real swing on the monthly t/f which is that former swing lo starting at 192.53 area

Best Wishes
Attached Image (click to enlarge)
Click to Enlarge Name: gj.jpg Size: 81 KB
it's all gone a bit........
  • #354,009
  • Nov 22, 2013 5:36am Nov 22, 2013 5:36am
My last trade on this pairing was actually a short after double top and 30min pinbar...I have said before - I am a short term trader, no overnight positions, on lower t/f's but keeps an eye on big picture.,,,In this thread there is little discussion of lower t/f's and in any case - there is generally no time to do it...so I stick to discussion of 1hr + mainly.

Best Wishes

Quoting ud1nh0
{quote} where is your nearest long position on GU right now?
it's all gone a bit........
  • #354,010
  • Nov 22, 2013 5:43am Nov 22, 2013 5:43am
Quoting petetong
My last trade on this pairing was actually a short after double top and 30min pinbar...I have said before - I am a short term trader, no overnight positions, on lower t/f's but keeps an eye on big picture.,,,In this thread there is little discussion of lower t/f's and in any case - there is generally no time to do it...so I stick to discussion of 1hr + mainly. Best Wishes {quote}

i see. i understand.
14QDuJtV7okxhBzC86FwawaR6tV5LvetLq
  • #354,011
  • Nov 22, 2013 5:49am Nov 22, 2013 5:49am
FTSE100 underperforming SP500 pretty strongly atm, so gbp could also face a downward pressure...or start to give signs of that, anyway.
  • #354,012
  • Nov 22, 2013 5:57am Nov 22, 2013 5:57am
my 1.6250 doesn't seem crazy now does it?

people will buy it "on broken resistance hypothesis" soon!
  • #354,013
  • Nov 22, 2013 5:58am Nov 22, 2013 5:58am
Hmmmm cable is starting to look toppy ..... can this finally be it? Still so many people are short though, but if it were to come down more people would start going long and releasing short positions, that's how it usually happens anyway, we'll see.

It is a friday though so can't really expect anything major today , maybe move down to like 1.6157 area.
  • #354,014
  • Nov 22, 2013 6:04am Nov 22, 2013 6:04am
Quoting Ck87
Hmmmm cable is starting to look toppy ..... can this finally be it? Still so many people are short though, but if it were to come down more people would start going long and releasing short positions, that's how it usually happens anyway, we'll see. It is a friday though so can't really expect anything major today , maybe move down to like 1.6157 area.

It can easily go there. that is why I shorted gbp/cad and gbp/usd
  • #354,015
  • Nov 22, 2013 6:14am Nov 22, 2013 6:14am
Quoting giveachance
{quote} It can easily go there. that is why I shorted gbp/cad and gbp/usd
Yeah, I don't know , it's just too strong lately and has been eating me up whenever i go short.
  • #354,016
  • Nov 22, 2013 6:18am Nov 22, 2013 6:18am
might be just starting its run up again.....
  • #354,017
  • Nov 22, 2013 6:21am Nov 22, 2013 6:21am
Good day to you,

Back from meetings.

I have 2 small shorts running from higher up. But this may only turn into a short term trade. Yes - we can have a leg down - but retailers continue shorting both GU and EU. It is like they do not want to listen..

Whenever stops are cleared - new ones are taking their place - instantly.

I believe we have not seen the last of the bulls.

Trade carefully.

Regards
  • #354,018
  • Nov 22, 2013 6:24am Nov 22, 2013 6:24am
1.6206 should be decent resistance, but the truth is none of that matters right now, GU is trending very strongly to the upside and that's that.
  • #354,019
  • Nov 22, 2013 6:35am Nov 22, 2013 6:35am
Quoting chazzle
GU M15 Break and retest - taking a long here
done
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  • #354,020
  • Nov 22, 2013 6:36am Nov 22, 2013 6:36am
Quoting Ck87
1.6206 should be decent resistance, but the truth is none of that matters right now, GU is trending very strongly to the upside and that's that.

technically, there's nothing in the way for cable to break 6250. If fundamentals don't work then it's all a wild guess. Euro rallying like there's no tomorrow despite the taper fear and possible further cuts in whatever ECB rates all the way down to future adopting QE.
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