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Cable Update (GBPUSD)

  • #356,701
  • Dec 26, 2013 5:04am Dec 26, 2013 5:04am
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  • #356,702
  • Dec 26, 2013 5:15am Dec 26, 2013 5:15am
G/u if not break 1.64 today possible retest 1.6219 soon
More on my Blog...
  • #356,703
  • Dec 26, 2013 5:28am Dec 26, 2013 5:28am
Quoting Ill-b-back
Merry Xmas from Australia and may the New Year bring good tidings to the bulls I won't be shorting into this for any great length of time that's for sure {image} {image}
Nice opinion!
I will not fight against the trend too until i can not see a LL and LH.
The only annoying things the last 3 engulfing candles and the 3 wick of last candles, but firmly the price is going into it deeper and deeper
Leaving the previous candle high, much stop loss of bears validating, strengthing us
The next station hopefully ~6690.
My invaliadtion point if it could close under 23 years old S/R ~6290 which is becomeing to support in this weeks.

Good luck!
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpusdmicromonthly.png Size: 65 KB
Click to Enlarge Name: gbpusdmicroweekly.png Size: 46 KB
Click to Enlarge Name: gbpusdmicrodaily.png Size: 38 KB
Anything is math!
  • #356,704
  • Dec 26, 2013 5:50am Dec 26, 2013 5:50am
Quoting FxMaximus
Am I the only one seeing that massive ascending wedge on the week tf? Everyone knows that any investment or trading vehicle does not perpetually rise or fall. Could this be the hintings of a reversal in the near future? Exciting stuff indeed. {image}
In your chart i can see the price is above your support after a retest of break of resistance which means you have to join to the mass which are not the sellers.
Your ascending wedge even have not generate any signal to trade in my reading of your chart.
Every signal have an validation point and as i learned never take a trade before the validation of signal.
Anything is math!
  • #356,705
  • Dec 26, 2013 5:54am Dec 26, 2013 5:54am
Kajos, the question was, DO YOU SEE THE ASCENDING WEDGE?
  • #356,706
  • Dec 26, 2013 6:11am Dec 26, 2013 6:11am
Quoting FxMaximus
Kajos, the question was, DO YOU SEE THE ASCENDING WEDGE?
Yes i can see a shape which is ascending wedge but i prefer using edges as Ralph Nelson Elliott recognized and this is not the.
There are missing waves in your chart to use this wedge as a signal for me!

Sorry for my bad english
Anything is math!
  • #356,707
  • Dec 26, 2013 6:36am Dec 26, 2013 6:36am
gbp has some nice steam inside. right to 165.
  • #356,708
  • Dec 26, 2013 7:00am Dec 26, 2013 7:00am
Quoting Kajos2250
{quote} Yes i can see a shape which is ascending wedge but i prefer using edges as Ralph Nelson Elliott recognized and this is not the. There are missing waves in your chart to use this wedge as a signal for me! Sorry for my bad english
Kajos, your English is good. Not to worry. Keep at it, as in everything else, with work and earnest effort, we all improve ourselves.

Thank you for your input.
  • #356,709
  • Dec 26, 2013 7:33am Dec 26, 2013 7:33am
Quoting FxMaximus
{quote} Kajos, your English is good. Not to worry. Keep at it, as in everything else, with work and earnest effort, we all improve ourselves. Thank you for your input.
Thank you even if it si not good enought
Your welcome!

These are just my view of market, and i am happy to share it.
I respect anybody's view, which is against mine!
One of the sucsessfull trading is which is important, trade what you see and not what you would like to see! Know your startegies, your signals(with validation and invalidation price) and use your admissable risk that doesnt make you feel uncomfortable in your trade! If your signals, technikal anlisys makes it possible, use more than 2 risk reward ratio and the long time succses is guaranted! The market is so simply
Anything is math!
  • #356,710
  • Dec 26, 2013 7:39am Dec 26, 2013 7:39am
Cable pair is so strange... I wonder when it will fall of the cliff...
  • #356,711
  • Dec 26, 2013 7:41am Dec 26, 2013 7:41am
...
Attached Image
Hear the music before the song is over ...
  • #356,712
  • Dec 26, 2013 7:45am Dec 26, 2013 7:45am
Quoting RavBRD
Cable pair is so strange... I wonder when it will fall of the cliff...
Probably after it gets to around 1.6470 ....thats the next resistance zone i believe.
  • #356,713
  • Dec 26, 2013 8:01am Dec 26, 2013 8:01am
Quoting Kajos2250
{quote} Thank you even if it si not good enought Your welcome! These are just my view of market, and i am happy to share it. I respect anybody's view, which is against mine! One of the sucsessfull trading is which is important, trade what you see and not what you would like to see! Know your startegies, your signals(with validation and invalidation price) and use your admissable risk that doesnt make you feel uncomfortable in your trade! If your signals, technikal anlisys makes it possible, use more than 2 risk reward ratio and the long time...
Yes, opposing views are what create a market. Movement in opposing currencies create value.
I see the GBP/USD rising yet, but it will roll and retrace. No doubt about it.
  • #356,714
  • Dec 26, 2013 8:19am Dec 26, 2013 8:19am
Quoting FxMaximus
{quote} Yes, opposing views are what create a market. Movement in opposing currencies create value. I see the GBP/USD rising yet, but it will roll and retrace. No doubt about it.
yeah nobody knows when this pair is going to violently fall thats why one can only rely on their stop losses as they seek to reap the benefits of the bull move. But this pair is bullish short term though, just make sure as Kajos said to be playing with a 2 to 1 risk ratio at the least
  • #356,715
  • Dec 26, 2013 8:46am Dec 26, 2013 8:46am
will try to short this pair at every overbought indication, short order at 1.6460 which is close the last bull resistance sl 16485 tp 16360,
true gbp has some bullish momentum but as someone said, when usdx finally react, the fall is going to be fast and furious.
  • #356,716
  • Dec 26, 2013 9:25am Dec 26, 2013 9:25am
Quoting acidguy
will try to short this pair at every overbought indication, short order at 1.6460 which is close the last bull resistance sl 16485 tp 16360, true gbp has some bullish momentum but as someone said, when usdx finally react, the fall is going to be fast and furious.
Hahaha we are mostly trend followers but i dont know... its going to be tempting to switch hats and play the reversal formation that may occur in the next resistance zone
  • #356,717
  • Dec 26, 2013 9:39am Dec 26, 2013 9:39am
I will short GU again at 1.643x, SL above 1.6480.
Do not buy GU at this zone
  • #356,718
  • Dec 26, 2013 10:00am Dec 26, 2013 10:00am
I see weekly looks overbought. It is time to short this one? How do you think?
  • #356,719
  • Dec 26, 2013 10:02am Dec 26, 2013 10:02am
Quoting RavBRD
I see weekly looks overbought. It is time to short this one? How do you think?

I did short already, 1.643x
It is very risky to LONG gu above 1.64 because we are not sure that it will go to 1.6480 or not.
  • #356,720
  • Dec 26, 2013 10:10am Dec 26, 2013 10:10am
Quoting RavBRD
I see weekly looks overbought. It is time to short this one? How do you think?
Fundamentally, looks like any positive US data that comes out lately doesn't upset the bulls. The sentiment of the market is upwards for some time now.
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