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Cable Update (GBPUSD)

  • #365,581
  • Feb 24, 2014 3:37am Feb 24, 2014 3:37am
I see a market fillup to 710 before a short play.
  • #365,582
  • Feb 24, 2014 3:38am Feb 24, 2014 3:38am
Quoting shon9178
something we don't know is immensely screwed up with sterling. BOE is f*ing around with words again to sustain a level of high pound value for some reason.

It definitely has the jitters.
However I can see with hindsight that the push down in the 0800 candle happened after a drop through support, looking at the H1, and using fractals as the measure of that support.
Likewise when the spike was oversold it soon breached the resistance on H1, again that was a break of a fractal, and another powerful movement.

There must have been a lot of buying at the bottom. I would not rule out 1.67, and if it went above Friday's high, I think all the bears will stop their losses and we'd be on the way back to heights not seen in 7 days. Trade what the market wants!
Attached Image (click to enlarge)
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  • #365,583
  • Feb 24, 2014 3:45am Feb 24, 2014 3:45am
go long, go long peeps...this is GBP I am expecting test of 167 again...
Cannot post chart - I Work full time only analysis with trade details :-)
  • #365,584
  • Feb 24, 2014 3:46am Feb 24, 2014 3:46am
Quoting shon9178
something we don't know is immensely screwed up with sterling.
large Vodafone M&A flows still in the works atm I think
  • #365,585
  • Feb 24, 2014 3:48am Feb 24, 2014 3:48am
they are mate. Look at the chart it's screaming for long...unfortunately I cannot paste but can tell that 2 days of UP move compare to 7 days of down move, you do the maths :-)



Quoting chazzle
{quote} large Vodafone M&A flows still in the works atm I think
Cannot post chart - I Work full time only analysis with trade details :-)
  • #365,586
  • Feb 24, 2014 3:48am Feb 24, 2014 3:48am
Quoting chazzle
{quote} large Vodafone M&A flows still in the works atm I think
Vodafone and 130 billion dollars (much of which is not cash) is still small in relation to the total size of the forex market
  • #365,587
  • Feb 24, 2014 3:49am Feb 24, 2014 3:49am
Quoting chazzle
JAN high 668 back in scope
... half an hour and no bounce for bears here ...
  • #365,588
  • Feb 24, 2014 3:53am Feb 24, 2014 3:53am
113 pips has been the strongest bounce / rally in this move down from 6823 top....any rally so far has been sold aggressively....so far this one is 70 pips.

Best Wishes.
it's all gone a bit........
  • #365,589
  • Feb 24, 2014 4:01am Feb 24, 2014 4:01am
agree to disagree, only sell has been from 168 as for profit taking as I expect dollar buying coming in the next few days...
Look at the move from 1.66 to 168 and what has happened since past 7 days we still have strong buying interest and I expect shorts to be screwed before we tank any further so I am long from 1.66 to 167...where I will judge and place short with long SL :-)


Quoting petetong
113 pips has been the strongest bounce / rally in this move down from 6823 top....any rally so far has been sold aggressively....so far this one is 70 pips. Best Wishes.
Cannot post chart - I Work full time only analysis with trade details :-)
  • #365,590
  • Feb 24, 2014 4:02am Feb 24, 2014 4:02am
Today looks like a day for scalpers on Cable. I've just gone short at 1.6666 (previous structure level + 61.8 handle of previous swing close).

Don't plan to get married to my position. If it drops fast to 1.60ish I might even go long.

Have a good trading day
Be water, my friend
  • #365,591
  • Feb 24, 2014 4:04am Feb 24, 2014 4:04am
Quoting Tguru
they are mate. Look at the chart it's screaming for long...unfortunately I cannot paste but can tell that 2 days of UP move compare to 7 days of down move, you do the maths :-) {quote}
yep - had some from lower 600s , was waiting for pullback to 640 to re-enter , looks like it won't happen and JAN high is dust, lets see - I don't mind long from there if we make a solid base, cheers
  • #365,592
  • Feb 24, 2014 4:08am Feb 24, 2014 4:08am
Oh this is cable nasty bit** and I am very certain that stock market sell is very near, this month or March but it is and dollar buying will send cable down heavy first than euro. I am looking to buy at 1.60 big time if it ever goes there :-) I have a hunch it will until than 100 points are my scalp trade. I am a seller at 1.6750 despite cable stops there or not as we are not in a position to go any higher


Quoting chazzle
{quote} yep - had some from lower 600s , was waiting for pullback to 640 to re-enter , looks like it won't happen and JAN high is dust, lets see - I don't mind long from there if we make a solid base, cheers
Cannot post chart - I Work full time only analysis with trade details :-)
  • #365,593
  • Feb 24, 2014 4:14am Feb 24, 2014 4:14am
4hr close here - others may be different close time
Attached Image (click to enlarge)
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it's all gone a bit........
  • #365,594
  • Feb 24, 2014 4:15am Feb 24, 2014 4:15am
GBPUSD strong sell tp1: 1.660 ( 100% profit )
  • #365,595
  • Feb 24, 2014 4:20am Feb 24, 2014 4:20am
Quoting Tguru
Oh this is cable nasty bit**
GU W1

I don't see much reason why it can't continue North. The week prior to last took out a good 6 weeks worth of supply hitting the market , closing very bullish -
Attached Image(s) (click to enlarge)
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  • #365,596
  • Feb 24, 2014 4:29am Feb 24, 2014 4:29am
buying this dip looking toward 167
  • #365,597
  • Feb 24, 2014 4:38am Feb 24, 2014 4:38am
This level (Asia high - 1.6650) a great opportunity for long entries, subject to price action...
Gone to a better place
  • #365,598
  • Feb 24, 2014 4:44am Feb 24, 2014 4:44am
Quoting chazzle
buying this dip looking toward 167
635/40 intraday swing point - goes under - and stays , and I'm out
  • #365,599
  • Feb 24, 2014 4:47am Feb 24, 2014 4:47am
Quoting chazzle
{quote} 635/40 intraday swing point - goes under - and stays , and I'm out
I think it will hold. It's also the 38.2% retrace since London open.
Gone to a better place
  • #365,600
  • Feb 24, 2014 4:49am Feb 24, 2014 4:49am
Bearish Crab pattern.... Good day for (bear) scalper
A handful of patience is worth a bushel of brains
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