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Cable Update (GBPUSD)

  • #355,421
  • Dec 5, 2013 11:22am Dec 5, 2013 11:22am
Quoting A-speculator
{quote} yeah, maybe by the end of December. when the time comes, the candles will show.. i see aussie will get to 0.8 but it is long shot and gold might get just below $1000, my estimation is around $900
Damn missed bottom entry didn't think it'd pop tonight, no worries though nfp will be long, might keep it over weekend and let it run, I don't think it's a long shot to .8800 when she starts to drop, tv news will crap on about high petrol prices but at least exporters will be happy, idk about gold not my game, thoughts on aus200? Def won't enter now, overlap's pretty much over... Anyway going to bed, recharge for tomorrows carnage
  • #355,422
  • Dec 5, 2013 11:39am Dec 5, 2013 11:39am
1H doesn't seems to support bearish view now.. will try a long entry @ 6320.
  • #355,423
  • Dec 5, 2013 11:42am Dec 5, 2013 11:42am
Quoting A-speculator
1H doesn't seems to support bearish view now.. will try a long entry @ 6320.
entry triggered 6320.. let's see how far this will go..
  • #355,424
  • Dec 5, 2013 11:49am Dec 5, 2013 11:49am
Quoting DailyChart
Dear all, I am see sell signals "Slowly" develop Thanks
Seem like a Double Top Lower Close ( Candle Patterns )
  • #355,425
  • Dec 5, 2013 11:55am Dec 5, 2013 11:55am
Attached Image (click to enlarge)
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-milkeyway
  • #355,426
  • Dec 5, 2013 1:18pm Dec 5, 2013 1:18pm
Quoting A-speculator
{quote} entry triggered 6320.. let's see how far this will go..
I got in at 1.6323 with a small long at 17:30 GMT (London Closing Bell)... A tester.
However, I gave up and got out at 1.6330 for +7... enough for a coffee and a sandwich
Those who say it cannot be done should not interrupt those who are doing it
  • #355,427
  • Dec 5, 2013 1:34pm Dec 5, 2013 1:34pm
Quoting DailyChart
{quote} Seem like a Double Top Lower Close ( Candle Patterns )
GU 1H

DT and Target already met... Now what?
Attached Image (click to enlarge)
Click to Enlarge Name: GU 1H.png Size: 23 KB


G/L
  • #355,428
  • Dec 5, 2013 1:45pm Dec 5, 2013 1:45pm
Quoting PipTrapper
{quote} I got in at 1.6323 with a small long at 17:30 GMT (London Closing Bell)... A tester. However, I gave up and got out at 1.6330 for +7... enough for a coffee and a sandwich
lol. 4h might print interesting candle for bulls.. will see if weekly candles plays out as it should be by printing 3 white soldiers..
  • #355,429
  • Dec 5, 2013 2:10pm Dec 5, 2013 2:10pm
Quoting A-speculator
{quote} lol. 4h might print interesting candle for bulls.. will see if weekly candles plays out as it should be by printing 3 white soldiers..
1.6341 should offer strong resistance, but if it turns out to be yet one more wet toilet paper level, then there's the falling trend line from the high to the last lower high. As such, there is nothing compelling me to go long seeing as there is no significant support to trade against below here until 1.6240 and we have multiple levels of resistance above. No technical move should be able to just run through those levels. Only a fundamental catalyst can do that now... like perhaps a miss on NFP expectations.

3 White soldiers is a reversal pattern, is it not? Certainly do not see it as a continuation pattern. Perhaps more like a final gasp before the fall.
Those who say it cannot be done should not interrupt those who are doing it
  • #355,430
  • Dec 5, 2013 2:19pm Dec 5, 2013 2:19pm
Quoting PipTrapper
{quote} I got in at 1.6323 with a small long at 17:30 GMT (London Closing Bell)... A tester. However, I gave up and got out at 1.6330 for +7... enough for a coffee and a sandwich
Hi just had a look price did not clear 200 sma but back in short with a stop tight at 1.6354 tp 1.6255 i am going to turn off till the morning long will be 6388 lets hope i get it right
  • #355,431
  • Dec 5, 2013 2:31pm Dec 5, 2013 2:31pm
Quoting A-speculator
{quote} lol. 4h might print interesting candle for bulls.. will see if weekly candles plays out as it should be by printing 3 white soldiers..

That's Not looking likely right now. Would be nice though.
  • #355,432
  • Dec 5, 2013 2:32pm Dec 5, 2013 2:32pm
Quoting PipTrapper
{quote} 1.6341 should offer strong resistance, but if it turns out to be yet one more wet toilet paper level, then there's the falling trend line from the high to the last lower high. As such, there is nothing compelling me to go long seeing as there is no significant support to trade against below here until 1.6240 and we have multiple levels of resistance above. No technical move should be able to just run through those levels. Only a fundamental catalyst can do that now... like perhaps a miss on NFP expectations. 3 White soldiers is a reversal...
well the 3 white soldiers happen to be from 5875.. so it's interesting to see continuation happen from that price onwards.
  • #355,433
  • Dec 5, 2013 2:36pm Dec 5, 2013 2:36pm
Quoting elbert3
{quote} Hi just had a look price did not clear 200 sma but back in short with a stop tight at 1.6354 tp 1.6255 i am going to turn off till the morning long will be 6388 lets hope i get it right

Elbert no disrespect but what time frame 200? from your posts it's seems like your trading for trading sake. Unless its a long term 200 I wouldn't really take much notice of it. Price stops all over the place just because there happens to be 200 on a time frame at price consolidation shouldn't mean you should grab onto it as a strong support or resistance level.
  • #355,434
  • Dec 5, 2013 2:36pm Dec 5, 2013 2:36pm
Quoting Baggi
{quote} That's Not looking likely right now. Would be nice though.
i don't think the 4h shows us bearish sign mate..
  • #355,435
  • Dec 5, 2013 2:58pm Dec 5, 2013 2:58pm
Quoting A-speculator
{quote} i don't think the 4h shows us bearish sign mate..
It is leaning towards a possibility of a bearish sign, but certainly no signals yet.
In fact despite resistance at 6341, if you put a gun to my head and forced me to take a trade, I'd go long with a 6380/90 target. Then perhaps I would short from there.
Those who say it cannot be done should not interrupt those who are doing it
  • #355,436
  • Dec 5, 2013 3:05pm Dec 5, 2013 3:05pm
Quoting A-speculator
{quote} well the 3 white soldiers happen to be from 5875.. so it's interesting to see continuation happen from that price onwards.
With weekly MacD and RSX bearish divergences, I wouldn't trust those soldiers any more than I trust my dog with my dinner

The three soldiers pattern I would trust is the one that started at 1.4812 (Actual reversal... Not continuation) Food for thought.

ADD: By the way, the 3 soldiers is something I always thought of as a 5 wave impulse (Wave 1) followed by a bearish candle (wave 2)
Those who say it cannot be done should not interrupt those who are doing it
  • #355,437
  • Dec 5, 2013 3:08pm Dec 5, 2013 3:08pm
Quoting squawk
{quote} Elbert no disrespect but what time frame 200? from your posts it's seems like your trading for trading sake. Unless its a long term 200 I wouldn't really take much notice of it. Price stops all over the place just because there happens to be 200 on a time frame at price consolidation shouldn't mean you should grab onto it as a strong support or resistance level.
hi i hour i use 200 and 10 day sma 34 and 55 ema they all crossed 13 nov 34 and 55 crossed 1.59591 200 and 10 day crossed a little higher around 160001 went long on the 14th nov on the close candle1.60200 and have been long since now the saqme but in reverse ot go short the 34 and 55 ema have crossed so i am waiting for the 200 to cross then short till around 1.61 ish you can do the maths on the pips have a look you will see it if we dont pass the 200 go long 63850 is that trading come back and tell me how many pips it made 2 trades in over 3 weeks best regards
  • #355,438
  • Dec 5, 2013 3:34pm Dec 5, 2013 3:34pm
I just got a sell signal @ 1.6331, trying out a new system which has been tested on demo since a while and works 90% okay!

if it works out, ill share it here in the thread.

best of luck
  • #355,439
  • Dec 5, 2013 4:02pm Dec 5, 2013 4:02pm
Quoting fxmasterdxb
I just got a sell signal @ 1.6331, trying out a new system which has been tested on demo since a while and works 90% okay! if it works out, ill share it here in the thread. best of luck
deal i have just explained how i trade i little unusual but it worked still need to pass the 1 hr 200 sma for me to short good luck
  • #355,440
  • Dec 5, 2013 4:07pm Dec 5, 2013 4:07pm
Quoting elbert3
{quote} hi i hour i use 200 and 10 day sma 34 and 55 ema they all crossed 13 nov 34 and 55 crossed 1.59591 200 and 10 day crossed a little higher around 160001 went long on the 14th nov on the close candle1.60200 and have been long since now the saqme but in reverse ot go short the 34 and 55 ema have crossed so i am waiting for the 200 to cross then short till around 1.61 ish you can do the maths on the pips have a look you will see it if we dont pass the 200 go long 63850 is that trading come back and tell me how many pips it made 2 trades in over...

No worries all the best and good luck with it all .
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