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Cable Update (GBPUSD)

  • #364,101
  • Feb 17, 2014 5:02am Feb 17, 2014 5:02am
This pitchfork seems to be working fairly good. Look at the multiple rebounds near the top line, and also near the middle line. According to the pitchfork's theory, the should be back to the median line, although there is still room to the upside, but it shouldn't go up much more.
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  • #364,102
  • Feb 17, 2014 5:02am Feb 17, 2014 5:02am
Quoting Carlicus
Have a look at the analysis of elliott wave international, experts in Elliott Waves. This is the most important part in the comments: "According to the DSI data made available from trade-futures.com more than 80% of market participants believe cable will continue to climb. " (DSI is the indicator showed in the weekly chart). " History shows that a DSI reading above 80% is rare and typically occurs near significant price peaks. Since 2009 reading over 80% have led to declines lasting months. " "it's premature to call a top in place. The intraday...
Nice analysis.
Im also think one more push up before a strong correction.
Come with me if you want to live....
  • #364,103
  • Feb 17, 2014 5:08am Feb 17, 2014 5:08am
Quoting kimisiow83
{quote} Yes, high possibilities. I think it will get rejected on 1.674x, then start to feed the BEAR. So open your mouth now and wait to be feed. Hope I am not wrong, because my mouth already open big. LoL Regards
No worries i'm wild open too

1.681x showed very strong sellers. I just hope they are greedy!
COT: The precious data ignored
  • #364,104
  • Feb 17, 2014 5:10am Feb 17, 2014 5:10am
Quoting Carlicus
This pitchfork seems to be working fairly good. Look at the multiple rebounds near the top line, and also near the middle line. According to the pitchfork's theory, the should be back to the median line, although there is still room to the upside, but it shouldn't go up much more. {image}
Yeah, let her FKN climb, all the bigger the drop when it comes
Come with me if you want to live....
  • #364,105
  • Feb 17, 2014 5:23am Feb 17, 2014 5:23am
are the bears really out in full force again?
yes i prefer to see the 4H chart settle more before reloading longs
there is certainly no conviction long at this point like there was during the entire uptrend
but my goodness, there is no way i am shorting this anywhere in no man's land
good luck to all
  • #364,106
  • Feb 17, 2014 5:30am Feb 17, 2014 5:30am
Quoting chazzle
m15 matching low higher close spanning fri/mon swing mid at 734
p/b into that pattern puts me long again
  • #364,107
  • Feb 17, 2014 5:31am Feb 17, 2014 5:31am
We've been in an almost 600 pips rise in straight line...today is monday + NY holidays, can't expect another rise up really.

Plus the fact the strong volume appeared inside 1.64xx i expect the price to reach that area again before another surge up to 1.7xx or a break down. (A double top is always a possibility, but i won't buy this pair)

Time will tell
COT: The precious data ignored
  • #364,108
  • Feb 17, 2014 5:37am Feb 17, 2014 5:37am
Quoting Suffo
buy 733 sl 702
out 730
With a good book and quality paper you can fine wipe your ass.
  • #364,109
  • Feb 17, 2014 5:40am Feb 17, 2014 5:40am
sell 730 sl 760 tp 666+
With a good book and quality paper you can fine wipe your ass.
  • #364,110
  • Feb 17, 2014 6:12am Feb 17, 2014 6:12am
This PA is almost identical to the one we witnessed on EU during the 2nd of february 2013.

Rising in a straight line on friday to new high, falling down on monday....and falling down 1k pips next

Lets see if history repeats on another currency
COT: The precious data ignored
  • #364,111
  • Feb 17, 2014 6:26am Feb 17, 2014 6:26am
Quoting kuroro001
This PA is almost identical to the one we witnessed on EU during the 2nd of february 2013. Rising in a straight line on friday to new high, falling down on monday....and falling down 1k pips next Lets see if history repeats on another currency

Falling 1K. that will be a nightmare!!
  • #364,112
  • Feb 17, 2014 6:29am Feb 17, 2014 6:29am
Still holding those shorts. Im not sure if it will go down further. Today will lack volatility due to US Bank Holiday.

Anyways, how are the bulls doing ?
  • #364,113
  • Feb 17, 2014 6:30am Feb 17, 2014 6:30am
Quoting kuroro001
This PA is almost identical to the one we witnessed on EU during the 2nd of february 2013. Rising in a straight line on friday to new high, falling down on monday....and falling down 1k pips next Lets see if history repeats on another currency
2nd of February 2013 was Saturday
  • #364,114
  • Feb 17, 2014 6:34am Feb 17, 2014 6:34am
I find it extremely strange that in the Bid/Ask, it is currently about 150M in each side, while usually it is half the volume, about 65 M on the bid/ask... This is suspicious
  • #364,115
  • Feb 17, 2014 6:37am Feb 17, 2014 6:37am
Quoting Carlicus
{quote} 2nd of February 2013 was Saturday
My bad the 4th
COT: The precious data ignored
  • #364,116
  • Feb 17, 2014 6:38am Feb 17, 2014 6:38am
Quoting Sawwanee
{quote} Falling 1K. that will be a nightmare!!
A dream here! But we are far from it.

Plenty of news this week, let's see if fundies support this bullish move
COT: The precious data ignored
  • #364,117
  • Feb 17, 2014 6:45am Feb 17, 2014 6:45am
Quoting Capelli
Anyways, how are the bulls doing ?
Absolutely FANTASTIC
  • #364,118
  • Feb 17, 2014 6:47am Feb 17, 2014 6:47am
According to Citi it should be trading at 1.75 as it is undervalued.
  • #364,119
  • Feb 17, 2014 6:51am Feb 17, 2014 6:51am
Just an observation: Look at the Weekly chart going back as far as possible. Look at the pattern , how many times a 100% retrace takes place before resuming the same direction. Just checking out what might be due.
  • #364,120
  • Feb 17, 2014 6:51am Feb 17, 2014 6:51am
Quoting Capelli
Still holding those shorts. Im not sure if it will go down further. Today will lack volatility due to US Bank Holiday. Anyways, how are the bulls doing ?
It's time to celebrate?
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