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Cable Update (GBPUSD)

  • #362,561
  • Feb 7, 2014 10:49am Feb 7, 2014 10:49am
cable back under 384 or weakness between 414/24 to consider intraday shorts imo

GU D1
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  • #362,562
  • Feb 7, 2014 11:18am Feb 7, 2014 11:18am
consider the set up ,the chart we know is range bound and can turn on a penny ,I read bearish in weekly and monthly ,but for now we just bounced of major pivot ,
Attached Image (click to enlarge)
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #362,563
  • Feb 7, 2014 11:19am Feb 7, 2014 11:19am
Going to probably close near the highs and gap up on Sunday evening. Well, gaps for us retail traders anyway. I wouldn't try to get cute and fade the so-called gap, either, because it might be one of those gaps that doesn't get filled for a while.
  • #362,564
  • Feb 7, 2014 11:51am Feb 7, 2014 11:51am
.
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  • #362,565
  • Edited 1:28pm Feb 7, 2014 1:03pm | Edited 1:28pm
2 shorts triggered at 64
will add more higher if it goes higher
With Yellen testifying Feb 11 we could see huge corrections and this time Cable might break 6250 and and open doors to 60

38 (64) 50 (6460) 61.8 (65)
http://www.forexfactory.com/attachme...1&d=1391761317
With 6.6 Unemployment numbers released today you can be almost certain tapering will continue.Don't get caught off guard.
In trading, you have to be defensive and aggressive at the same time
  • #362,566
  • Feb 7, 2014 1:27pm Feb 7, 2014 1:27pm
I like it Davit 61.8 looks good
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #362,567
  • Feb 7, 2014 1:28pm Feb 7, 2014 1:28pm
as my chart

Quoting Bones
consider the set up ,the chart we know is range bound and can turn on a penny ,I read bearish in weekly and monthly ,but for now we just bounced of major pivot , {image}
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #362,568
  • Feb 7, 2014 1:36pm Feb 7, 2014 1:36pm
daily has closed bullish weekly in my eyes bearish,it is poss for higher high I guess ,but I doubt
Attached Image (click to enlarge)
Click to Enlarge Name: gbp USDw1 close Spot.png Size: 17 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #362,569
  • Feb 7, 2014 1:47pm Feb 7, 2014 1:47pm
Quoting Bones
I like it Davit 61.8 looks good
I am happy I can get back building nice short positions again since last time I bailed out too early.This time will hold to 6250 and even then watch if it breaks or not.
Short on EU as well
People don't realize Feds will continue taper and longer term trend is USD strength increasing.
With Yellen next week I anticipate sell off.
Regards
In trading, you have to be defensive and aggressive at the same time
  • #362,570
  • Feb 7, 2014 1:49pm Feb 7, 2014 1:49pm
  • #362,571
  • Feb 7, 2014 1:54pm Feb 7, 2014 1:54pm
Quoting Davit
2 shorts triggered at 64 will add more higher if it goes higher With Yellen testifying Feb 11 we could see huge corrections and this time Cable might break 6250 and and open doors to 60 38 (64) 50 (6460) 61.8 (65) {image} With 6.6 Unemployment numbers released today you can be almost certain tapering will continue.Don't get caught off guard.
Nice analysis. The main theme is the Fed is going to continue taper.
May the Probability be with you!
  • #362,572
  • Feb 7, 2014 1:54pm Feb 7, 2014 1:54pm
Quoting DailyChart

Lets see
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  • #362,573
  • Feb 7, 2014 1:57pm Feb 7, 2014 1:57pm
some people never learn from their losses
  • #362,574
  • Feb 7, 2014 2:13pm Feb 7, 2014 2:13pm
Quoting DailyChart
some people never learn from their losses
Their ego can not handle the blow, so they just continue on in denial all the while trying to portray a strong character. Attack people on forums, puff out their chests, and trade with peanuts or even demo accounts---that is their M.O..

It is the learning from mistakes that pushes us forward in skills.

See you at 1.6600.
  • #362,575
  • Feb 7, 2014 2:23pm Feb 7, 2014 2:23pm
Though there's no valid signal for going short, many are opening short positions, I will do same.. LoL
  • #362,576
  • Feb 7, 2014 2:44pm Feb 7, 2014 2:44pm
Quoting Zappa
{quote} Their ego can not handle the blow, so they just continue on in denial all the while trying to portray a strong character. Attack people on forums, puff out their chests, and trade with peanuts or even demo accounts---that is their M.O.. It is the learning from mistakes that pushes us forward in skills. See you at 1.6600.
Well said 1.66 minimum!
Cheers!!
  • #362,577
  • Feb 7, 2014 3:00pm Feb 7, 2014 3:00pm
Quoting Davit
{quote} I am happy I can get back building nice short positions again since last time I bailed out too early.This time will hold to 6250 and even then watch if it breaks or not. Short on EU as well People don't realize Feds will continue taper and longer term trend is USD strength increasing. With Yellen next week I anticipate sell off. Regards
I agree with your sentiment.

I bailed to early last time to pick up on a potential Yen move that I screwed up.
  • #362,578
  • Feb 7, 2014 3:26pm Feb 7, 2014 3:26pm
Gidday Traders

Well reading the post most saying 1.66

Davit saying possible short 1.625

Davit has been making good calls on this pair:nerd:

I got trades in already,taking a small short to 1,63

An a few longs which are in play,small ones to 1.66 etc

Should make things interesting for next week
  • #362,579
  • Feb 7, 2014 3:27pm Feb 7, 2014 3:27pm
My outlook is bearish still. I have 16405 filled and pending order at 16445.

Weekly chart
I am planning to play the failed pin setup. 16450 area

Daily chart
Again 16450 is a key area. If you are into this sort of thing there are trendlines, S/R, moving averages, FIB all coming into play. Area is going to be interesting.

Herd Sentiment
From last week is there has been an increase in traders going into long positions on forex factory, oanda and fxcm. An increase in long positions I generally see that as a indication to think short.

COT futures.
Asset/money have increased more net short GBP.

Good pips to all
Attached Image(s) (click to enlarge)
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  • #362,580
  • Feb 7, 2014 3:30pm Feb 7, 2014 3:30pm
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is it time to short
lets call this a confirming breakout of the trend line, there will be no 6600
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