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Cable Update (GBPUSD)

  • #381,921
  • Jun 15, 2014 3:26pm Jun 15, 2014 3:26pm
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i would like to see it short as soon as it opens
  • #381,922
  • Jun 15, 2014 3:58pm Jun 15, 2014 3:58pm
EG Daily

Apparently this is interesting? Deeply oversold and at support, oversold bounce forecast to

  1. .81
  2. .8178

Technical double top executed to target via channel down, price broke through the down channel support and if technical behaviour holds it will rebound out of oversold territory to oblique R or last R

This is trading a rebound and is counter trend (trade with care)

EU bearish oversold
GU bullish overbought

The trend for EG remains bearish, trading the oversold bounce is a valid high probability trade but of short duration, there is no reason to yet believe the year old trend is changing...

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I don't see how this proves anything about the numeric value that GU can reach
  • #381,923
  • Jun 15, 2014 4:01pm Jun 15, 2014 4:01pm
Quoting elbert3
{image} i would like to see it short as soon as it opens
Evening Bert, I think she falls to 1.6881 before next up but given global news 1.66 area is final support inside the current daily swings, I'd be keen to long from lower down, I think your bear may have legs but cable has Carney's support, so I'll prefer the longs when she settles
  • #381,924
  • Jun 15, 2014 4:04pm Jun 15, 2014 4:04pm
big gap up on the open
  • #381,925
  • Jun 15, 2014 4:07pm Jun 15, 2014 4:07pm
The opening play seems to be a short from here the low TF support is 6923 and gap support is being probed at 69712

Will see

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  • #381,926
  • Jun 15, 2014 4:07pm Jun 15, 2014 4:07pm
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  • #381,927
  • Jun 15, 2014 4:09pm Jun 15, 2014 4:09pm
Quoting JimmyC
{quote} Evening Bert, I think she falls to 1.6881 before next up but given global news 1.66 area is final support inside the current daily swings, I'd be keen to long from lower down, I think your bear may have legs but cable has Carney's support, so I'll prefer the longs when she settles
Hi Jim we wil have to let it settle see what it is up to, 8/9 pip gap on the open price ,,
  • #381,928
  • Jun 15, 2014 4:12pm Jun 15, 2014 4:12pm
Quoting JimmyC
The opening play seems to be a short from here the low TF support is 6923 and gap support is being probed at 69712 Will see {image}
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mmmm
  • #381,929
  • Jun 15, 2014 4:13pm Jun 15, 2014 4:13pm
Please someone to help me please

what the fuck happen to this pair?

Is that true? Please help
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The good thing with the future is that it is progressively approaching...
  • #381,930
  • Edited 4:42pm Jun 15, 2014 4:16pm | Edited 4:42pm
Quoting elbert3
{quote} Hi Jim we wil have to let it settle see what it is up to, 8/9 pip gap on the open price ,,
The London open will be most interesting
-Risk off and safe haven behaviour
Long Gold / Oil

War in Iraq with US airstrikes being the feeling at the start of trade... relief rallies moving all in the opposite direction are possible if the middle east suddenly breaks out doves and everyone decides to live in harmony

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  • #381,931
  • Jun 15, 2014 4:20pm Jun 15, 2014 4:20pm
Quoting spinozagr
Please someone to help me please what the fuck happen to this pair? Is that true? Please help {image}
Hi Spin

GBPCHF H1

Reuters feed

No mistrade

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Contact your broker and register a complaint, its a problem with their feed, they should reinstate your positions
  • #381,932
  • Jun 15, 2014 4:21pm Jun 15, 2014 4:21pm
Quoting Kajos2250
{quote} GU D1 GMT+3 Lovely bullish marubozu! Both long at BE. Buy limit .6905, buy stop .6938. Invalidation if price could close under ~6827. Targetting ~7030. Good luck! {image}
GU D1 GMT+3

I like this bullish gap, strengthening my longs, buy stop .6997.
All longs invalidation is if price could close under ~6882.

Good luck!
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Anything is math!
  • #381,933
  • Jun 15, 2014 4:23pm Jun 15, 2014 4:23pm
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if we dont double top then extention to the upper trend line
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price wont want to be to far from the emas, it 1 double top..2 hit the upper trend line and come back to the emas ,,3 short from here targeting now 1.670 thats if the opening gap up is contained ,,
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  • #381,934
  • Jun 15, 2014 4:24pm Jun 15, 2014 4:24pm
Hey Spin

So funny
  • #381,935
  • Jun 15, 2014 4:25pm Jun 15, 2014 4:25pm
Quoting spinozagr
Please someone to help me please what the fuck happen to this pair? Is that true? Please help {image}
Oanda
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A good trader follows his rules, but great trader knows when to break them
  • #381,936
  • Jun 15, 2014 4:27pm Jun 15, 2014 4:27pm
Quoting eliteincome
Hey Spin So funny
Ι am rich... hahahah...

they have credited to my account...

should i tell them??? hahahah

umbelievable
The good thing with the future is that it is progressively approaching...
  • #381,937
  • Jun 15, 2014 4:27pm Jun 15, 2014 4:27pm
Quoting eliteincome
Hey Spin So funny
Best accident I've seen in years.... and only had to swap 178 bucks
  • #381,938
  • Jun 15, 2014 4:33pm Jun 15, 2014 4:33pm
did anyone get their account wiped out?
  • #381,939
  • Jun 15, 2014 4:35pm Jun 15, 2014 4:35pm
Quoting justin7
did anyone get their account wiped out?
Why? i am not going to return them.... hahahah
The good thing with the future is that it is progressively approaching...
  • #381,940
  • Jun 15, 2014 5:16pm Jun 15, 2014 5:16pm
Quoting justin7
did anyone get their account wiped out?
Ugh, f'in Carney ... . I didn't get wiped out (no chance of that, as am hardly ever at more than 10 times equity), but I will relate that I am now in an unfortunate GBP/USD short that executed at about 1.69 and a EUR/GBP long that was similarly affected by Carney's opening his blowhole. Just means that I will be holding these positions longer than I would like while Cable movement plays itself out and decides whether it can sustain this particular level.

I did read an article (I think on FxStreet) that described the price spike as "illiquid," implying that it was based on comparatively low volume and that a retracement of some kind could easily be created were more volume present. Retail is also amply net short on GBP/USD. I am not, however, hanging my hat on either of these circumstances. The pair, after all, appears to be hanging around far too long around the 70 mark, at least on the lower time frames. I kind of expected a more immediate and more substantial retracement than has occurred ... .
Fireworks are fun ... as long as you don't blow your fingers off.
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