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Cable Update (GBPUSD)

  • #356,821
  • Dec 28, 2013 6:28pm Dec 28, 2013 6:28pm
Quoting PipTrapper
{quote} Friday closings are never the same. Besides the diff closing times you mention there are also the different closing spreads that can make a huge difference as liquidity drops to almost zero.
Indeed
Come with me if you want to live....
  • #356,822
  • Dec 29, 2013 3:23pm Dec 29, 2013 3:23pm
GU Yearly Chart

This is interesting, I don't put much faith in yearly candles
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  • #356,823
  • Dec 29, 2013 3:27pm Dec 29, 2013 3:27pm
DXY 1H
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  • #356,824
  • Dec 29, 2013 3:35pm Dec 29, 2013 3:35pm
GU 1H

Bullish looking all the same
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  • #356,825
  • Dec 29, 2013 4:05pm Dec 29, 2013 4:05pm
If Mon, Tues US news creates the strong bullish action I expect it will, I won't be at all surprised to see 1.73 before the end of January.
Come with me if you want to live....
  • #356,826
  • Dec 29, 2013 4:07pm Dec 29, 2013 4:07pm
Bright day here in Sydney.
Off to see the animals at the zoo with the family.
Come with me if you want to live....
  • #356,827
  • Dec 29, 2013 4:11pm Dec 29, 2013 4:11pm
Quoting Ill-b-back
If Mon, Tues US news creates the strong bullish action I expect it will, I won't be at all surprised to see 1.73 before the end of January.
I'm definitely not expecting that. That would be quite the move.

But what news are you expecting to cause such a move? Another 9/11?
  • #356,828
  • Dec 29, 2013 4:31pm Dec 29, 2013 4:31pm
Quoting Baggi
{quote} I'm definitely not expecting that. That would be quite the move. But what news are you expecting to cause such a move? Another 9/11?
Nope, but surging equities and bond yields could do the trick.
Did a 9/11 event occur in May last year?
How big was that monthly candle?

Have a great day guys
Come with me if you want to live....
  • #356,829
  • Dec 29, 2013 4:31pm Dec 29, 2013 4:31pm
Quoting Ill-b-back
If Mon, Tues US news creates the strong bullish action I expect it will, I won't be at all surprised to see 1.73 before the end of January.
Anything is possible, but to see 1.73 within 30 days would require us to see 1.61xx within 2 weeks.
As much as I expect to see 1.66xx, I think that to get beyond that we will need a good size correction first. It may not be as low as 1.61xx but certainly somewhere down there.

Enjoy the zoo. Take a picture if you see a bear wanking.
Those who say it cannot be done should not interrupt those who are doing it
  • #356,830
  • Dec 29, 2013 5:08pm Dec 29, 2013 5:08pm
GU H4 GMT+3

Even more ~200 pips today please!
All longs close if price could close under ~6437.
I hope later i can add one other above ~6513.

Good luck!
Attached Image (click to enlarge)
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Anything is math!
  • #356,831
  • Dec 29, 2013 5:30pm Dec 29, 2013 5:30pm
Quoting PipTrapper
{quote} Anything is possible, but to see 1.73 within 30 days would require us to see 1.61xx within 2 weeks. As much as I expect to see 1.66xx, I think that to get beyond that we will need a good size correction first. It may not be as low as 1.61xx but certainly somewhere down there. Enjoy the zoo. Take a picture if you see a bear wanking.
Good day sir .. can we expect 1.66 before correction ?? is it possible to break 1.6578 before that correction to 1.61xx ??
  • #356,832
  • Dec 29, 2013 5:36pm Dec 29, 2013 5:36pm
Completely flat my GBP long at 1.65 about 30 mins ago. Don't want to take the risk of this thing reversing all the way down to 1.64 after seeing what happened Friday...

Year almost over...
  • #356,833
  • Dec 29, 2013 6:13pm Dec 29, 2013 6:13pm
Quoting PipTrapper
{quote} Anything is possible, but to see 1.73 within 30 days would require us to see 1.61xx within 2 weeks. As much as I expect to see 1.66xx, I think that to get beyond that we will need a good size correction first. It may not be as low as 1.61xx but certainly somewhere down there. Enjoy the zoo. Take a picture if you see a bear wanking.
Good day sir ..Need some advise here . is it possible to break 1.6578 before any correction at least 1.6380 .I am having some shorts at 1.6380 wanna close with min loss . I cannot hold them till 1.66(almost margin call) ..Should I need to hedge?? thanks in advance
  • #356,834
  • Dec 29, 2013 6:21pm Dec 29, 2013 6:21pm
Rambo

Look at it this way...

He tells you to close now
1. prices goes up, you feel relieved, saved. Learn anything?
2. price goes down, you feel mad, and think could've / should've

He tells you to close later
1. price goes up, you feel pissed off, and u get margin call
2. price goes down, you feel saved, almost reinforcing bad behavior unconsciously.

I would recommend YOU make a decision and be completely rational while making this decision so you can live with the outcome and say I made the right choice regardless of what price does.

Best of luck.
  • #356,835
  • Dec 29, 2013 6:31pm Dec 29, 2013 6:31pm
Quoting rambo12
{quote} Good day sir ..Need some advise here . is it possible to break 1.6578 before any correction at least 1.6380 .I am having some shorts at 1.6380 wanna close with min loss . I cannot hold them till 1.66(almost margin call) ..Should I need to hedge?? thanks in advance
Just a friendly advice: if you dont have a good hedge strategy then do not do it! Realize your loss if you dont have any short signal and wait for the other one. But do not forget we have a strong bull trend on daily and the trend is your friend!

Good luck!
Anything is math!
  • #356,836
  • Dec 29, 2013 9:57pm Dec 29, 2013 9:57pm
Quoting rambo12
{quote} Good day sir ..Need some advise here . is it possible to break 1.6578 before any correction at least 1.6380 .I am having some shorts at 1.6380 wanna close with min loss . I cannot hold them till 1.66(almost margin call) ..Should I need to hedge?? thanks in advance
relax, market is not too far from that price and very likely hit tomorrow or a few days, watch the price action, stick to your system, then take action.
  • #356,837
  • Dec 29, 2013 11:07pm Dec 29, 2013 11:07pm
Quoting PipTrapper
{quote} Anything is possible, but to see 1.73 within 30 days would require us to see 1.61xx within 2 weeks. As much as I expect to see 1.66xx, I think that to get beyond that we will need a good size correction first. It may not be as low as 1.61xx but certainly somewhere down there. Enjoy the zoo. Take a picture if you see a bear wanking.
No idea why we need to see 1.61
Last week closed nicely above the main 38.2 fib for the highest weekly/daily close of the year and can't see price breaking below 1.62 anytime soon.
I see some good daily support and 50 fib around 6395
Come with me if you want to live....
  • #356,838
  • Dec 29, 2013 11:16pm Dec 29, 2013 11:16pm
Quoting Ill-b-back
{quote} No idea why we need to see 1.61 Last week closed nicely above the main 38.2 fib for the highest weekly/daily close of the year and can't see price breaking below 1.62 anytime soon. I see some good daily support and 50 fib around 6395
still long from last week?
  • #356,839
  • Dec 29, 2013 11:22pm Dec 29, 2013 11:22pm
Quoting acidguy
{quote} still long from last week?
Indeed...

With this type of weekly and monthly PA,

what else is there to do?
Attached Image (click to enlarge)
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Come with me if you want to live....
  • #356,840
  • Dec 29, 2013 11:34pm Dec 29, 2013 11:34pm
Quoting Ill-b-back
{quote} Indeed... With this type of weekly and monthly PA, what else is there to do? {image}
the upside has been huge, correction?

i thought last week about our chat, was expecting were very profitable for you caused the market went your way,
for me also was very profitable as put some strong shorts and closed them as price action eased downside.
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