Nice spot
GELORE
Cable Update (GBPUSD)
- #375,462
- May 2, 2014 8:36am May 2, 2014 8:36am
- Joined Sep 2010 | Status: Life Time Member | 6,685 Posts
- #375,463
- May 2, 2014 8:40am May 2, 2014 8:40am
- Joined Dec 2007 | Status: mac daddy junior :) | 20,899 Posts
{quote} Well to me, GONE means a Closed bar. Now, so far we have a 30M that just "Closed" under your number of 6850. So what do you mean by "Gone"? Just a spike below it, a 1H, 4H, daily or weekly close below it? To me, all this has done so far is "test" the area of 6820/6800 I was looking for. Guess I just don't understand what GONE means to you.
if u look at my charts i have posted u can see what i think about this area 1.69..
i just work backwards from that point taking my point of reference from the trend on big picture, cable is very hard to read long term but i do believe it is down
- #375,464
- May 2, 2014 8:40am May 2, 2014 8:40am
- Joined Dec 2013 | Status: Trader | 19,815 Posts
- #375,465
- May 2, 2014 8:42am May 2, 2014 8:42am
- Joined Dec 2007 | Status: mac daddy junior :) | 20,899 Posts
- #375,467
- May 2, 2014 8:46am May 2, 2014 8:46am
- Joined Dec 2007 | Status: mac daddy junior :) | 20,899 Posts
- #375,468
- May 2, 2014 8:46am May 2, 2014 8:46am
- Joined Mar 2009 | Status: Trader | 25,480 Posts
{quote} i trade very different to u ..i dont even look at look at anything below 4hr.. if u look at my charts i have posted u can see what i think about this area 1.69.. i just work backwards from that point taking my point of reference from the trend on big picture, cable is very hard to read long term but i do believe it is down
... 
Ghost Rider - WWTBMD?
As said though I have mostly stayed away from EURUSD the last few weeks, it's been a terrible bore for me.
- #375,470
- May 2, 2014 8:48am May 2, 2014 8:48am
- Joined Dec 2013 | Status: Trader | 19,815 Posts
- #375,471
- May 2, 2014 8:48am May 2, 2014 8:48am
- Joined Sep 2010 | Status: Life Time Member | 6,685 Posts
{quote} we will only know this in the future but im happy that 1.6850 has gone that tells volumeslets get lucky {image}
Be careful nav that you don't try to make the chart fit your pre-disposition of being short, I know you want it to get back and bail out your drawdown but a spike up to 1.7 would not be that far from here and it would be a GREAT chance for the "smart money" to pull in more "OK ok I'm closing my short, and going long weee £ to the moon!" people and THEN drop back down.
1.7 wouldn't even break the structure of this long term monthly flag you have drawn either. I wouldn't bet on £ going much higher than 1.7 myself but I certainly would not be calling for 1.5s right now. All this drop has done so far is test the break up, it hasn't reversed it.
(not to mention you're relying on people putting billions into the market based on a formation that is YEARS in the making, NO hedge funds or banks are trading based on 2008 levels mate)
Good luck though, I'm not buying £ at moment so I've got nothing against the idea of it falling and helping you out =)
- #375,473
- May 2, 2014 8:55am May 2, 2014 8:55am
- Joined Dec 2007 | Status: mac daddy junior :) | 20,899 Posts
{quote} Ok, if you don't want to answer what you mean by 6850 being "GONE"... I understand. No doubt bro. We trade TOTALLY differently.
- #375,474
- May 2, 2014 8:56am May 2, 2014 8:56am
- Joined Dec 2013 | Status: Trader | 19,815 Posts
{quote} absolutely bro
- #375,476
- May 2, 2014 9:00am May 2, 2014 9:00am
- Joined Dec 2007 | Status: mac daddy junior :) | 20,899 Posts
{quote} Be careful nav that you don't try to make the chart fit your pre-disposition of being short, I know you want it to get back and bail out your drawdown but a spike up to 1.7 would not be that far from here and it would be a GREAT chance for the "smart money" to pull in more "OK ok I'm closing my short, and going long weee £ to the moon!" people and THEN drop back down. 1.7 wouldn't even break the structure of this long term monthly flag you have drawn either. I wouldn't bet on £ going much higher than 1.7 myself but I certainly would not...
- #375,477
- May 2, 2014 9:00am May 2, 2014 9:00am
- Joined Dec 2007 | Status: mac daddy junior :) | 20,899 Posts
- #375,478
- May 2, 2014 9:02am May 2, 2014 9:02am
- Joined Dec 2013 | Status: Trader | 19,815 Posts
{quote} {image} ok navin target 2 the red 20?? traders don't get complacent every ema is a buy for bulls the trend will only confirm when the red 20 ema crosses the white 10 ema so be carefull any bull candles off the levels is a train to the top
- #375,479
- May 2, 2014 9:05am May 2, 2014 9:05am
- Joined Dec 2013 | Status: Trader | 19,815 Posts
- #375,480
- May 2, 2014 9:14am May 2, 2014 9:14am
- Joined Mar 2009 | Status: Trader | 25,480 Posts
{quote} this morning there was a part of me thinking this thing may not even touch 1.6850 and just take off, now it broken below its just a question of time inho
Pretty sure most were expecting a pullback before continuing the trend to 1.7xx. I certainly was/am. I'm looking for buys between 6820/6800. I poked a small feeler in at NFP time. Here's my 4H that close in 1 hour 46 minutes. The red line is your 6850. Lets see if it holds the day or even this 4H. It may well do so.The two orange lines are 6820 & 6800, my buying area I'm still hoping it reaches.
Ghost Rider - WWTBMD?