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Cable Update (GBPUSD)

  • #378,241
  • May 19, 2014 7:46am May 19, 2014 7:46am
Quoting Ill-b-back
{quote} Support holding well brother. I entered long at market open this morning, 2 TL's down (or up), 1 to go.... its approaching crunch time, news tomorrow will tell the story I think. It seems the market is not taking too kindly to Bens 3 rounds of currency debasement and long term low interest rates approach and Yellen dismantling the historical triggers for rate hikes certainly isn't helping. Meanwhile, it seems many STILL seem to be ignoring this and obsessing over the ECB and BOE for some reason.... odd....
Yep ... Had I not been involved with other pairs, I'd be onboard for a few as well. Certainly no "serious" decisions either way yet though.

Should the daily close as I have in my charts I posted last night. I'll be looking more seriously at buying dips.
Ghost Rider - WWTBMD?
  • #378,242
  • May 19, 2014 7:49am May 19, 2014 7:49am
Quoting Citiboy
Put on shorts at 1.6835, SL 1.6880. Targeting 1.6250. Carney is dovish. Inflation is falling. Markets over their skis on rate hikes.
  • #378,243
  • May 19, 2014 8:10am May 19, 2014 8:10am
Quoting Citiboy
Put on shorts at 1.6835, SL 1.6880. Targeting 1.6250. Carney is dovish. Inflation is falling. Markets over their skis on rate hikes.
Hi Citiboy,

I would be careful, since in my opinion we could reach 1.686 (50% fib) or even 1.6895 (61.8% fib and top of the big down channel). Good luck anyway
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  • #378,244
  • May 19, 2014 8:29am May 19, 2014 8:29am


Inserted Video
Ghost Rider - WWTBMD?
  • #378,245
  • May 19, 2014 8:33am May 19, 2014 8:33am
Quoting Citiboy
Put on shorts at 1.6835, SL 1.6880. Targeting 1.6250. Carney is dovish. Inflation is falling. Markets over their skis on rate hikes.

Put some reasons why you think like that ?
  • #378,246
  • May 19, 2014 8:36am May 19, 2014 8:36am
Quoting sami4240
{quote} Put some reasons why you think like that ?
put some reasons why do you think otherwise??????
  • #378,247
  • May 19, 2014 8:37am May 19, 2014 8:37am
Quoting Citiboy
Put on shorts at 1.6835, SL 1.6880. Targeting 1.6250. Carney is dovish. Inflation is falling. Markets over their skis on rate hikes.
with you on that one. gbp is going to fall like a rock.
  • #378,248
  • May 19, 2014 8:39am May 19, 2014 8:39am
Quoting Ken A
{quote} Haha you have been in this business long enough to know how PA reacts to psychological levels on first touch same as E/U why it missed few pips from 1.40 to be precise 1.39934. It will get there when everyone least expected it to go there. You know how it is going to end up making your trading decision from public forum
Thanks Ill-B-Back. Always cautious to ask as we all see differently sometimes with valid reasons. There's always a case for either direction at anytime.
  • #378,249
  • May 19, 2014 8:51am May 19, 2014 8:51am
GU bears might want to wait until TL is broken on D1 charts. Technically, the bias is bearish + confirmed by flip in COT index data, however short selling @ current levels does not look legit yet.
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  • #378,250
  • May 19, 2014 8:52am May 19, 2014 8:52am
Not much today. My shorter term levels above are still reaction levels of 6850 and 6920. I think if we break through these we would have to head for a push higher to take out some orders and run through.

On the short side I have levels of 6750 and 6620. I will be watching 6660 for a reaction as well.

I have no Bias at the moment. Still holding longs but watching carefully.
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  • #378,251
  • May 19, 2014 8:52am May 19, 2014 8:52am
Quoting albchr
{quote} No but I have a few good German Ump-PaPa tunes.....
  • #378,252
  • May 19, 2014 8:53am May 19, 2014 8:53am
Quoting ruffryders
GU bears might want to wait until TL is broken on D1 charts. Technically, the bias is bearish + confirmed by flip in COT index data, however short selling @ current levels does not look legit yet. {image}
better trades elsewhere (NU short).
  • #378,253
  • May 19, 2014 8:54am May 19, 2014 8:54am
Quoting ruffryders
GU bears might want to wait until TL is broken on D1 charts. Technically, the bias is bearish + confirmed by flip in COT index data, however short selling @ current levels does not look legit yet. {image}
I agree, we should probably wait a little bit more for shorting from a better level
  • #378,254
  • May 19, 2014 8:56am May 19, 2014 8:56am
Quoting Carlicus
{quote} I agree, we should probably wait a little bit more for shorting from a better level
if TL gets broken traders can probably get a much more decent entry upon retest of the highlighted zone.
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  • #378,255
  • May 19, 2014 8:58am May 19, 2014 8:58am
Quoting ruffryders
GU bears might want to wait until TL is broken on D1 charts. Technically, the bias is bearish + confirmed by flip in COT index data, however short selling @ current levels does not look legit yet. {image}
Totally agree with this call Ruff. and possibly a retest to a level above after the break.

  • #378,256
  • May 19, 2014 8:59am May 19, 2014 8:59am
Quoting ruffryders
{quote} if TL gets broken traders can probably get a much more decent entry upon retest of the highlighted zone. {image}
You beat me to it.
  • #378,257
  • May 19, 2014 9:32am May 19, 2014 9:32am
Looks bullish to me.
But I'm off to bed so can't watch
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Come with me if you want to live....
  • #378,258
  • May 19, 2014 9:35am May 19, 2014 9:35am
LOL
Ghost Rider - WWTBMD?
  • #378,259
  • May 19, 2014 9:47am May 19, 2014 9:47am
GBP AUD is a great BUY ATM. AUD USD is a great short ATM. AU TP 9275. bid is 9346.
  • #378,260
  • May 19, 2014 9:49am May 19, 2014 9:49am
Long GU

Unconvinced of DX Strength

Stop is Fridays low... looking for 1.705 if we get there
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