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Cable Update (GBPUSD)

  • #363,381
  • Feb 14, 2014 12:35am Feb 14, 2014 12:35am
1.6761 nice number to short on , is the 25%fib ext on the day chart, if you measure the previous low to high move the extension off that was 25% clue ?????
  • #363,382
  • Feb 14, 2014 12:36am Feb 14, 2014 12:36am
720 holds for retest of 694 imo
  • #363,383
  • Feb 14, 2014 12:37am Feb 14, 2014 12:37am
Six years old resistance ~6700 is under attack.
I hope it will be defeated!

Good luck!
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpusdh4.png Size: 94 KB
Click to Enlarge Name: gbpusdym15.png Size: 52 KB
Anything is math!
  • #363,384
  • Feb 14, 2014 12:42am Feb 14, 2014 12:42am
So there are still those wondering about where to short. Why not let longs run ??

next R1 pivot @ .6828
"
Attached Image (click to enlarge)
Click to Enlarge Name: chart.png Size: 49 KB
When the Joker is in the deck.. fear not and play it well
  • #363,385
  • Feb 14, 2014 12:45am Feb 14, 2014 12:45am
Short - sell limit filled
Attached Image
  • #363,386
  • Feb 14, 2014 12:46am Feb 14, 2014 12:46am
Attached Image (click to enlarge)
Click to Enlarge Name: week.png Size: 99 KB
weekly ,you can see were it could go 10 o clock eur news might sway the pound after that it is us 13.30 hrs
  • #363,387
  • Feb 14, 2014 12:46am Feb 14, 2014 12:46am
Quoting Davit
{quote} Thanks for the sound effect.I am sure we can all use your insights. Since I am at it let me elaborate more. Carney on numerous occasions mentioned that RI is not fixed on unemployment numbers only but overall health of the economy.Right now UK "recovery" is on fragile grounds and IR is not even considered for minimum 1year.WE are far from that point now.We can have multiple 1.60-167 until then.. I am not even bringing up Tapering and IR raise on our side. I suggest you stay with sound effects
Keep it simple my friend... price action discounts everything!!!

And the BoE is the most hawkish out of all the G10 countries... Shorting opportunities will come, yes, but not yet.... wait till we reach above 1.68 levels and even beyond, although i still feel that even these highs will only offer correctional trades and not directional.

For the record i called a long position on this pair from 1.6290 and target of 1.66/1.68 , perhaps here will create a double top and fall but there is no valid reason it will...

As for Taper in US, do not be fooled.... They will print for ever!
Cheers!!
  • #363,388
  • Feb 14, 2014 12:50am Feb 14, 2014 12:50am
Quoting Ken A
Short - sell limit filled {image}
hi ken just a note for you the double top on the weekly is 1.6704. regards
  • #363,389
  • Feb 14, 2014 12:51am Feb 14, 2014 12:51am
I'm in ...short every high from now

Happy Valentine Day
Attached Image
  • #363,390
  • Feb 14, 2014 12:53am Feb 14, 2014 12:53am
Quoting Halba
the rise on this defies all logic. its interest rate rise is over 12 months away. and it'll be small. not enough to account for a near 67% premium over the USD!!
when we have 78% retail short They will push as far they can because its free money collected.
I used to be skeptical about this but I have seen evidence market pushing for stops.Remember Christmas holiday time EU got pushed over 100pips for no reason no news nothing then fell once market resumed.

This may sound weird and illogical but I am calm knowing once all the stops get cleared this thing will drop in a very fast manner.
Attached Image
In trading, you have to be defensive and aggressive at the same time
  • #363,391
  • Feb 14, 2014 12:55am Feb 14, 2014 12:55am
Quoting Ken A
Short - sell limit filled {image}

So you simply think that that price is being driven higher
simply to take out shorts ??

I can hardly imagine !!
We'll see
When the Joker is in the deck.. fear not and play it well
  • #363,392
  • Feb 14, 2014 12:56am Feb 14, 2014 12:56am
Quoting ozboy
I'm in ...short every high from now Happy Valentine Day {image}

When the retail traders short the big players in long...
  • #363,393
  • Feb 14, 2014 12:56am Feb 14, 2014 12:56am
Quoting Slim Buffett
So there are still those wondering about where to short. Why not let longs run ?? next R1 pivot @ .6828 " {image}
Let it run
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusddaily.png Size: 68 KB
Anything is math!
  • #363,394
  • Feb 14, 2014 12:57am Feb 14, 2014 12:57am
Quoting ozboy
I'm in ...short every high from now Happy Valentine Day {image}
72% retailers short. VERY bullish sign!
Be water, my friend
  • #363,395
  • Feb 14, 2014 12:57am Feb 14, 2014 12:57am
Quoting elbert3
1.6761 nice number to short on , is the 25%fib ext on the day chart, if you measure the previous low to high move the extension off that was 25% clue ?????
Attached Image (click to enlarge)
Click to Enlarge Name: week2.png Size: 102 KB
again if i have drawn ti right, look at the extention fig 23 % within a few pips strange or am i just looking for a reason ??
  • #363,396
  • Feb 14, 2014 12:58am Feb 14, 2014 12:58am
Quoting elbert3
{quote} hi ken just a note for you the double top on the weekly is 1.6704. regards
I know just for technical short - long term target is still 1.6879x
Attached Image
  • #363,397
  • Feb 14, 2014 12:59am Feb 14, 2014 12:59am
Quoting Davit
Remember Christmas holiday time EU got pushed over 100pips for no reason no news nothing then fell once market resumed.
don't forget it's a lot easier for that to happen in a very thin market than at other times
  • #363,398
  • Feb 14, 2014 1:04am Feb 14, 2014 1:04am
this is getting sick when's the rally going to stop? it's already 450+ pips from recent bottom.
anyone has fundamentals + charts to logically explain what the F is happening?????????
  • #363,399
  • Feb 14, 2014 1:04am Feb 14, 2014 1:04am
Quoting chazzle
{quote} don't forget it's a lot easier for that to happen in a very thin market than at other times
Yes I am aware of the low liquidity factor but its not out of question to assume MM are aiming where the cherry is.
Not accidental higher the retail shorts got stronger up moves became.Can't be coincidental.
In trading, you have to be defensive and aggressive at the same time
  • #363,400
  • Feb 14, 2014 1:07am Feb 14, 2014 1:07am
Quoting GlobalMacro
{quote} Cable now 1.6636 = BUY STOP ENTRY ORDER FILLED @ 1.6635. LONG @ 1.6635 S / L : 1.6567 T / P : OPEN
Raising S/L to 1.6587 and continuing to carry the position.

LONG @ 1.6635

S / L : 1.6587

T / P : OPEN

Cable now 1.6710 Today's High: 1.6716
P&L : + 75 pips
Hear the music before the song is over ...
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