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Cable Update (GBPUSD)

  • #377,821
  • May 15, 2014 10:18am May 15, 2014 10:18am
I'm nibbling long to 1.705...

Stop 1.67 my original target

technical is the channel, I'm sure it'll be a long grind again

The bulls go up the stairs, the bears go out the window
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  • #377,822
  • May 15, 2014 10:22am May 15, 2014 10:22am
Quoting 45Condor
{quote} I'm not sure what is left in Cable's tank for today, but tomorrow may be a little bit of a whipping event with Yellen giving us all a yellin', before the afternoon news from the US. Of course, with it being a Friday, I'll be in the saddle, and so not trading the end of week frustration fest. Made my pip quota for the week, and so will relax. I will be interested to see where PA finishes tomorrow evening... what, with no news for Cable or the Dollar until next Tuesday (for Cable), Wednesday for the Dollar.
Enjoy
  • #377,823
  • Edited 12:09pm May 15, 2014 11:40am | Edited 12:09pm
Quoting Standov
{quote} I think it might hold up at 6820 61.8fib retrace and recent resistance or 6800 at the 50fib

Definitely good case to short GBP/AUD here. I have moved up my SL as could go either way. I just don't think the Cable will crumble that easy. I am going for my position to 8150 but if it continues higher could definitely test 7900 prior. I'll see what happens.
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  • #377,824
  • May 15, 2014 11:50am May 15, 2014 11:50am
Quoting Standov
{quote} been slow going, but recently been reading wyckoff book from 1934. Hard going since he talks about reading the tape and how to draw paper charts, but he has some nice ideas on candles
Theres a couple of good threads here on VSA you should read up on if your into that method. I lot of people crap on that you can't trust the volume in forex, I guess that depends on your broker. The volume measured in forex is tick volume and not real volume traded. This means volume is measured by the amount of times the price ticks up and then down. You will find a very close correlation between the both.

I don't use volume to trade, nor do I trade VSA however it has a lot of merit more so I find for the volatility gaps that it leaves behind.

Its a good path to take.
  • #377,825
  • May 15, 2014 11:57am May 15, 2014 11:57am
be carefull wait for d1 break if you think thats bullish ,its going nowhere imo
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #377,826
  • May 15, 2014 11:59am May 15, 2014 11:59am
Faking market I am longing that bithch from 6850 with take profit 7100 but i droped now. so i am in fat minus.
  • #377,827
  • May 15, 2014 12:04pm May 15, 2014 12:04pm
Quoting Bones
be carefull wait for d1 break if you think thats bullish ,its going nowhere imo {image} {image} {image}
total agree bones i had to go for a long walk and tell myself i am right its going down
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  • #377,828
  • May 15, 2014 12:05pm May 15, 2014 12:05pm
Quoting squawk
{quote} Definitely good case to short here. I have moved up my SL as could go either way. I just don't think the Cable will crumble that easy. I am going for my position to 8150 but if it continues higher could definitely test 7900 prior. I'll see what happens. {image}
  • #377,829
  • May 15, 2014 12:06pm May 15, 2014 12:06pm
1.6715 is the strong support on D1 if broken things gonna look ugly
  • #377,830
  • May 15, 2014 12:19pm May 15, 2014 12:19pm
Of course things can always change fast and it will be interesting to see this daily/weekly close. Same chart, same situation. Bull trend still fully in tact "as of now".

For me, a daily close above 6780 will certainly help that view. A weekly will pretty much cement it. Not saying by any means it will just "run for 7000 or more" but it lends weight to it getting there before dropping much lower. I've been seeing at least one more leg up on the charts. Still do "as of now".

We close below 6730/6700 and all bets are off.

Of course, only the big guns know what Granny might do to things tonight..... LOL
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Ghost Rider - WWTBMD?
  • #377,831
  • May 15, 2014 12:39pm May 15, 2014 12:39pm
Quoting Kajos2250
{quote} Condition of daily bullish trend are still valid, buy on the deep! buy limit .6741 placed... Invalidation if price could close under ~6727. Good luck! {image}
GU H4 GMT+3

Nothing interested changed, buy limit triggered and it has got the BE.
MPP and ~6761 support are working well at the moment, some retesting is expected.
Invalidation stayed, if price could close under ~6723.
I hope friday will be a little bit more volatile

Good luck!
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Anything is math!
  • #377,832
  • May 15, 2014 2:34pm May 15, 2014 2:34pm
Quoting albchr
Of course things can always change fast and it will be interesting to see this daily/weekly close. Same chart, same situation. Bull trend still fully in tact "as of now". For me, a daily close above 6780 will certainly help that view. A weekly will pretty much cement it. Not saying by any means it will just "run for 7000 or more" but it lends weight to it getting there before dropping much lower. I've been seeing at least one more leg up on the charts. Still do "as of now". We close below 6730/6700 and all bets are off. Of course, only the big...
Your first chart, meets criteria for a BARR reversal... I hope not
  • #377,833
  • May 15, 2014 2:44pm May 15, 2014 2:44pm
Quoting JimmyC
{quote} Your first chart, meets criteria for a BARR reversal... I hope not
Nothing's carved in stone. Hey it could drop back down, dip below 6730/6700 and take off north or just crash right through...LOL All I can do is look at what I see at this time. I really don't care which way it goes.

Would I love a short from 7xxx? You betcha! Will I take one from lower if it falls? You betcha. Will I go long or short from here if PA says so? Yep! .... LOL

Gotta love this business. ... Let's see what Granny does tonight...
Ghost Rider - WWTBMD?
  • #377,834
  • May 15, 2014 2:52pm May 15, 2014 2:52pm
Quoting albchr
{quote} Nothing's carved in stone. Hey it could drop back down, dip below 6730/6700 and take off north or just crash right through...LOL All I can do is look at what I see at this time. I really don't care which way it goes. Would I love a short from 7xxx? You betcha! Will I take one from lower if it falls? You betcha. Will I go long or short from here if PA says so? Yep! .... LOL Gotta love this business. ... Let's see what Granny does tonight...
well guys i got caught trying to ride the train,, in short 49 x4 lot so 30x 4 £5 pip, not good,,, but i think were short so i went for a walk and decided the trends my friend ...? my trade is to scalp back to the 10 ema in white if you follow what i do with ANY INTEREST i countertrade til i am in,, so the real trade was wait and trade back to the emas on the 4 hour,, 820 is the resistance to the up side , so i have to trade with conviction now and let's see,, if i am right if wrong i am packing it in ?
  • #377,835
  • May 15, 2014 3:01pm May 15, 2014 3:01pm
789 short trade with confidence
  • #377,836
  • May 15, 2014 3:07pm May 15, 2014 3:07pm
Quoting elbert3
{quote}well guys i got caught trying to ride the train,, in short 49 x4 lot so 30x 4 £5 pip, not good,,, but i think were short so i went for a walk and decided the trends my friend ...? my trade is to scalp back to the 10 ema in white if you follow what i do with ANY INTEREST i countertrade til i am in,, so the real trade was wait and trade back to the emas on the 4 hour,, 820 is the resistance to the up side , so i have to trade with conviction now and let's see,, if i am right if wrong i am packing it in ?
what you smoked while you wrote this..? i want some too lol
fokyou forexfactory
  • #377,837
  • May 15, 2014 3:09pm May 15, 2014 3:09pm
Quoting DNTme
{quote} what you smoked while you wrote this..? i want some too lol
red wine only lol
  • #377,838
  • May 15, 2014 3:12pm May 15, 2014 3:12pm
Quoting DNTme
{quote} what you smoked while you wrote this..? i want some too lol
where are you in this game ,, regards
  • #377,839
  • May 15, 2014 3:19pm May 15, 2014 3:19pm
what i do see in this thread is 40 something and more so traders view,, only a hand full post,, goo d bad or indifferent , they post, jimmy ,albchr ,ruff ,hda , bones , kajos, give a chance. etc,, the only time other traders intervene is when they might be in the right trade at the time,, i have the balls to say i got it wrong it just cost me £0000 what ever,, and i do give the when i get a big win,, so put up or,,,,,,,,, regards E
  • #377,840
  • May 15, 2014 3:59pm May 15, 2014 3:59pm
Quoting squawk
{quote} Theres a couple of good threads here on VSA you should read up on if your into that method. I lot of people crap on that you can't trust the volume in forex, I guess that depends on your broker. The volume measured in forex is tick volume and not real volume traded. This means volume is measured by the amount of times the price ticks up and then down. You will find a very close correlation between the both. I don't use volume to trade, nor do I trade VSA however it has a lot of merit more so I find for the volatility gaps that it...
I know. There seems to be a lot of people around FX that seem to defend not using the volume indicator (that's what it is) like their life was on trial. I see some merit in it.
Second star to the right, and straight on 'til morning
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