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Cable Update (GBPUSD)

  • #377,121
  • May 10, 2014 10:00am May 10, 2014 10:00am
Quoting Carlicus
{quote} By saying he was wrong in my opinion, I wanted to express the same as you have said, but it was shorter to say "wrong" haha By the way, Albchr, have a look at what I've found about this last drop, don't you think it's interesting? Ah, and it seems to me that 1.6820-30 is going to be a tough support, according to the chart, it was rejected 6 times before breaking through it, and then recently was a support also on the NFP day. {image}
LOL... I know what you meant. And it's Chris. Not that I mind albchr but Chris is just easier to remember and type....LOL

Well, as I've posted many times, I remain bullish on GU for at least one more leg up and my "main" buying areas remain 6800/20 to 6750/80. Do you still have the fib chart from the exercise with HDA the other night? If not.... I do

As you can see, ALL 4 fib setups align quite nicely (within a few pips) at 6820. As a chartist, I can't ignore the support that represents. Can it break? Sure which is why I'm also looking at 6750/80. Can you see why I look at 6750/80 as well on this daily fib chart?
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Ghost Rider - WWTBMD?
  • #377,122
  • May 10, 2014 10:04am May 10, 2014 10:04am
GU bottom-line: like it or not, technical HTF + COT data combined print an OVERALL Bearish picture now on GBP USD.
It's definately stronger than EUR USD, but you'd imagine that a 2000+ points rally will have a pullback eventually.
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  • #377,123
  • May 10, 2014 10:05am May 10, 2014 10:05am
Quoting albchr
{quote} LOL... I know what you meant. And it's Chris. Not that I mind albchr but Chris is just easier to remember and type....LOL Well, as I've posted many times, I remain bullish on GU for at least one more leg up and my "main" buying areas remain 6800/20 to 6750/80. Do you still have the fib chart from the exercise with HDA the other night? If not.... I do As you can see, ALL 4 fib setups align quite nicely (within a few pips) at 6820. As a chartist, I can't ignore the support that represents. Can it break? Sure which is why I'm also looking...
Chris, large traders are positioned for downside bro.
  • #377,124
  • May 10, 2014 10:11am May 10, 2014 10:11am
Quoting Mr. Scott
{quote} Hi Chris, Couple charts from me. {image} {image}
Hi Scott, I believe we are looking at the same things.

And Oh, I know why I so badly misread your gold chart the other day. That chart of mine? Isn't only untradeable but "inactive" as well. I've been watching the same, unchanged price on it for weeks and not even realizing it as I'm not following gold... ...
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  • #377,125
  • May 10, 2014 10:13am May 10, 2014 10:13am
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  • #377,126
  • May 10, 2014 10:15am May 10, 2014 10:15am
overall not interested in setups on GU, better ops elsewhere (EG, GNZD, GJ, NU)

Also EUR USD reversal @ 3970-80 is important, since this price is +1 std dev to all-time mean month close price on EURUSD.
  • #377,127
  • May 10, 2014 10:21am May 10, 2014 10:21am
Quoting ruffryders
GU bottom-line: like it or not, technical HTF + COT data combined print an OVERALL Bearish picture now on GBP USD. It's definately stronger than EUR USD, but you'd imagine that a 2000+ points rally will have a pullback eventually. {image}
Quoting ruffryders
{quote} Chris, large traders are positioned for downside bro.
Morning RR,

I don't know much about the COT other than some think it's very reliable, others don't. All I have are my charts.

No doubt about a pullback bro. And I'd say now rather than eventually. Still, by all I have (my charts) I don't see a trend change yet and I do have some doubts about seeing it pullback all the way to the 6640 you mention. Doubts mind you, not facts. I think a pullback that deep would be an indication of a real trend change though.
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  • #377,128
  • May 10, 2014 10:25am May 10, 2014 10:25am
Quoting GDR3k
https://www.youtube.com/watch?v=zCf46yHIzSo
I hate that guy Any scalp levels on your horizon bro?
Ghost Rider - WWTBMD?
  • #377,129
  • May 10, 2014 10:31am May 10, 2014 10:31am
Quoting albchr
{quote} I hate that guy Any scalp levels on your horizon bro?


I've just had a quick glance over the charts and the areas which are standing out right now are.... 1.7907 on GA, 170.944 and 172.12 on GJ, 1.4784 and 1.4591 on EA, 0.8578 on NZDUSD, 140.71 on EJ, 1.37185 and 1.36947 on EU.

Come market open I'll have orders waiting at all those prices.
  • #377,130
  • May 10, 2014 10:36am May 10, 2014 10:36am
Quoting albchr
Do you still have the fib chart from the exercise with HDA the other night? If not.... I do
Yes, I do, and as you say, the 4 fibs overlap withing a tight range: 1.68202 - 1.68267

Quoting albchr
Can you see why I look at 6750/80 as well on this daily fib chart?
I don't see why do you look at that level, cause the fib overlapping seems to happen at 1.6689
  • #377,131
  • May 10, 2014 10:46am May 10, 2014 10:46am
Quoting GDR3k
{quote} I've just had a quick glance over the charts and the areas which are standing out right now are.... 1.7907 on GA, 170.944 and 172.12 on GJ, 1.4784 and 1.4591 on EA, 0.8578 on NZDUSD, 140.71 on EJ, 1.37185 and 1.36947 on EU. Come market open I'll have orders waiting at all those prices.
... I've not had the chance to look for them. Hoping tonight or tomorrow morning. They called for rain today but I don't think so. So I should get out in the fields and do some fence work soon. I hear it's also really good for the abs and my six pack could use some help .....

(Picture swiped from the EUR thread)
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  • #377,132
  • May 10, 2014 10:50am May 10, 2014 10:50am
Quoting Carlicus
{quote} Yes, I do, and as you say, the 4 fibs overlap withing a tight range: 1.68202 - 1.68267 {quote} I don't see why do you look at that level, cause the fib overlapping seems to happen at 1.6689
Take a look at the Blue & Red fibs. And... you're really getting quite colorful

Overlapping is a "strong" sign but not the only meaningful support/resistance level "on fibs".
Ghost Rider - WWTBMD?
  • #377,133
  • May 10, 2014 10:51am May 10, 2014 10:51am
Quoting albchr
{quote} ... I've not had the chance to look for them. Hoping tonight or tomorrow morning. They called for rain today but I don't think so. So I should get out in the fields and do some fence work soon. I hear it's also really good for the abs and my six pack could use some help ..... {image}
They are levels off just the 1hour charts, I'll post all the levels off the 4hour also before market open. I've also moved that scalping account off mt4 and gone ecn through ctrader, as I said the other week the spreads are next to zero and with commissions it works out a few pips cheaper for me per position, plus there's no chance of my long positions being missed by a fraction of a pip anymore.
  • #377,134
  • May 10, 2014 11:03am May 10, 2014 11:03am
Quoting GDR3k
{quote} They are levels off just the 1hour charts, I'll post all the levels off the 4hour also before market open. I've also moved that scalping account off mt4 and gone ecn through ctrader, as I said the other week the spreads are next to zero and with commissions it works out a few pips cheaper for me per position, plus there's no chance of my long positions being missed by a fraction of a pip anymore.
Very cool I can see I'll probably be jealous in the coming days about the longs... ....LOL
When I first started in 2009 there were no fractions through my broker. Wish it was still that way.
Ghost Rider - WWTBMD?
  • #377,135
  • May 10, 2014 11:08am May 10, 2014 11:08am
Anyway folks, this has been a most enjoyable morning of exchanging views. But I really have to get moving here. Have a great weekend everyone.
Ghost Rider - WWTBMD?
  • #377,136
  • May 10, 2014 11:29am May 10, 2014 11:29am
guys do you think the parabolic move on GCAD is sustainable? On Weeklies clearly topping action and failure to crack above 8600.
The chart shows multiple attempts, which failed so far. I'd attribute it to the topping action.

The upside move on GCAD is clearly unsustaineable, 2.00 - keep dreaming.

this is going to be sold off so ******* badly.

the fact is we hit major resistance on 8week-stick chart (since inception). see below.

yeah, it was a nice party for a while, however the minivan is running out of gas.
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  • #377,137
  • May 10, 2014 12:01pm May 10, 2014 12:01pm
Hi Chris did he say how much he was making in swaps ? bear in mind he off sets that against gbp cad long


Quoting albchr
{quote} I don't consider him wrong or right. But it is why I posted that to him about how impressed I was with him sticking to his plan. If it were me? And if I can be so bold to say probably most here, I would have jumped ALL OVER banking that long a hold, with that much profit on the line over being within 4 or 5 pips of my target...LOL But I also understand (and can agree) that he's being paid quite well in swaps for holding the buy. If I were making just that much (the swaps) per day, it would solve my situation here completely. ...
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #377,138
  • May 10, 2014 2:06pm May 10, 2014 2:06pm
Quoting Bones
Hi Chris did he say how much he was making in swaps ? bear in mind he off sets that against gbp cad long {quote}
Yeah Tony he did some pages back. Maybe he is offsetting. That doesn't mean I would...LOL

Don't remember the exact figure and it wouldn't be my place to post it if I did. But I do recall at the time thinking I could live quite nicely off it.
Ghost Rider - WWTBMD?
  • #377,139
  • May 10, 2014 2:17pm May 10, 2014 2:17pm
Quoting albchr
{quote} Yeah Tony he did some pages back. Maybe he is offsetting. That doesn't mean I would...LOL Don't remember the exact figure and it wouldn't be my place to post it if I did. But I do recall at the time thinking I could live quite nicely off it.
GCAD down, GU down, simply put. http://www.forexfactory.com/showthre...31#post7461331
  • #377,140
  • May 10, 2014 2:33pm May 10, 2014 2:33pm
2.8848/1.7932=1.6586
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On-site guru & also FF member's' psychiatrist, when not drinking tea
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