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Cable Update (GBPUSD)

  • #387,981
  • Jul 18, 2014 9:07am Jul 18, 2014 9:07am
Good day,

Just a question.. do you think these targets are remotely possible?

Thanking you
Attached Image (click to enlarge)
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  • #387,982
  • Jul 18, 2014 9:07am Jul 18, 2014 9:07am
Quoting TauTrader
Good day, Just a question.. do you think these targets are remotely possible? Thanking you
7111 yes, I think. Maybe 7145, higher, I don't know if straight from here.
Everyone can see the chart, but only a few can actually read it.
  • #387,983
  • Jul 18, 2014 9:09am Jul 18, 2014 9:09am
@DailyChart: Sell gbp/usd
tp1 1.6985
tp2 1.6933
tp3 1.6908
stop 1.7110
Attached Image (click to enlarge)
Click to Enlarge Name: GBP.JPG Size: 124 KB
  • #387,984
  • Jul 18, 2014 9:11am Jul 18, 2014 9:11am
Quoting TauTrader
Good day, Just a question.. do you think these targets are remotely possible? Thanking you {image}
I think target 1 is possible sooner than later. Target 2.. later.. maybe much later..
  • #387,985
  • Jul 18, 2014 9:12am Jul 18, 2014 9:12am
Quoting OnlineAddict
{quote} I think the same, they want to trap people into shorts and then spike it up to new highs.
OA, some friendly advice... Take it as you will, but I'd consider not being as married to a direction as you. I've noticed the past couple of days, you have been long, long, and more long. That doesn't seem to be working out for you at this point.
  • #387,986
  • Jul 18, 2014 9:15am Jul 18, 2014 9:15am
Quoting JimmyC
{quote} {image}
Howzit!

GU 1H

Going in the weekend... holding short

Attached Image
  • #387,987
  • Jul 18, 2014 9:16am Jul 18, 2014 9:16am
Quoting Nate04
{quote} OA, some friendly advice... Take it as you will, but I'd consider not being as married to a direction as you. I've noticed the past couple of days, you have been long, long, and more long. That doesn't seem to be working out for you at this point.
Nah, I'm both, long and short, intraday. But yes, on euro, medium term, I won't be short until I see a re-test of 1.3730 and a failure to break above. Until then, I'm not convinced enough to short and most important, add to shorts as to a strong trend.
Everyone can see the chart, but only a few can actually read it.
  • #387,988
  • Jul 18, 2014 9:24am Jul 18, 2014 9:24am
Quoting Nate04
{quote} OA, some friendly advice... Take it as you will, but I'd consider not being as married to a direction as you. I've noticed the past couple of days, you have been long, long, and more long. That doesn't seem to be working out for you at this point.
Best advice I ever read here.

Oh you meant, being married to your trade....
The world you desire can be won. It exists.. it is real.. it is possible..
  • #387,989
  • Jul 18, 2014 9:25am Jul 18, 2014 9:25am
Quoting JimmyC
{quote} Howzit! GU 1H Going in the weekend... holding short {image}
Howzit Jimmy!
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDH47182.jpg Size: 155 KB
The world you desire can be won. It exists.. it is real.. it is possible..
  • #387,990
  • Jul 18, 2014 9:32am Jul 18, 2014 9:32am
Quoting Mr. Scott
{quote} Howzit Jimmy! {image}
Hey hey Scott...

Still waiting for strength @ 1.6914... to go long again...
  • #387,991
  • Jul 18, 2014 9:38am Jul 18, 2014 9:38am
Quoting JimmyC
{quote} Hey hey Scott... Still waiting for strength @ 1.6914... to go long again...
Hi Jimmy,

I like the level. Have another of interest as well. Thankfully Billy is not around so he can not call the harmonic police on me...
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDH47183.jpg Size: 191 KB
The world you desire can be won. It exists.. it is real.. it is possible..
  • #387,992
  • Jul 18, 2014 9:47am Jul 18, 2014 9:47am
Quoting TauTrader
Good day, Just a question.. do you think these targets are remotely possible? Thanking you {image}
Sir T

Due to the break of the multiyear highs extension targets (after retrace) and a year will be in the region of 1.8476...

Problem here is the closer we get to October the higher the probability the taper tantrum will happen, I still think we must test 1.7 - 1.691 environment before we go above 1.714 again but its the market and it will be correct...

RSI has space to move towards the bottom... Then the targets are valid, I would expect a 3+ week TF and will begin to target similar once daily confirms we are going long.

However last time at taper tantrum GU fell very hard 57 to 48 in 3 weeks... doesn't mean anything I know... but the catalyst was the US money machine being turned off

I think we need to see who pulls the interest rate trigger first, I'm with Carney but it wont be big .25% and recent events have shown small interest rate hikes to have bearish consequences for the currencies involved.

Good luck
  • #387,993
  • Jul 18, 2014 9:47am Jul 18, 2014 9:47am
Quoting Mr. Scott
{quote} Best advice I ever read here. Oh you meant, being married to your trade....
... It's funny Scott. I grew up in an age that convinced me Marriage is the leading cause of divorce. But not in trading I guess?? ...LOL
Ghost Rider - WWTBMD?
  • #387,994
  • Jul 18, 2014 9:49am Jul 18, 2014 9:49am
Quoting Mr. Scott
{quote} Hi Jimmy, I like the level. Have another of interest as well. Thankfully Billy is not around so he can not call the harmonic police on me... {image}
Ghost Rider - WWTBMD?
  • #387,995
  • Jul 18, 2014 9:49am Jul 18, 2014 9:49am
So many GURUS - so little time.

I'm off to a birthday party. Enjoy your weekend ahead and spend time with loved ones. Very important.

I wish I had the skill some of you possess. It would make trading a lot easier. But alas - I was born to battle. Life is not fair.

Rock on GU thread!

Take care
  • #387,996
  • Jul 18, 2014 9:50am Jul 18, 2014 9:50am
Quoting Mr. Scott
{quote} Hi Jimmy, I like the level. Have another of interest as well. Thankfully Billy is not around so he can not call the harmonic police on me... {image}
Time will tell but I had your first pattern in mind as well a few months back, so I think the whole market is looking that dir... And with Carney hinting at a surprise... It'll be interesting, I think this pair is going to make me more money on the long side than the short...
  • #387,997
  • Jul 18, 2014 9:52am Jul 18, 2014 9:52am
Quoting TauTrader
So many GURUS - so little time. I'm off to a birthday party. Enjoy your weekend ahead and spend time with loved ones. Very important. I wish I had the skill some of you possess. It would make trading a lot easier. But alas - I was born to battle. Life is not fair. Rock on GU thread! Take care
Lekker lekker
  • #387,998
  • Jul 18, 2014 9:52am Jul 18, 2014 9:52am
Quoting albchr
{quote} ... It's funny Scott. I grew up in an age that convinced me Marriage is the leading cause of divorce. But not in trading I guess?? ...LOL
Well, being married to your trade can lead you to a margin call, which is kinda like getting a divorce from your account.
  • #387,999
  • Jul 18, 2014 9:54am Jul 18, 2014 9:54am
Quoting JimmyC
{quote} Sir T Due to the break of the multiyear highs extension targets (after retrace) and a year will be in the region of 1.8476... Problem here is the closer we get to October the higher the probability the taper tantrum will happen, I still think we must test 1.7 - 1.691 environment before we go above 1.714 again but its the market and it will be correct... RSI has space to move towards the bottom... Then the targets are valid, I would expect a 3+ week TF and will begin to target similar once daily confirms we are going long. However last time...
Probably not today.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDMonthly718.jpg Size: 155 KB
The world you desire can be won. It exists.. it is real.. it is possible..
  • #388,000
  • Jul 18, 2014 9:56am Jul 18, 2014 9:56am
Quoting Nate04
{quote} Well, being married to your trade can lead you to a margin call, which is kinda like getting a divorce from your account.
Well I was going to say why is divorce so expensive? Because it's worth it.

But in that case...
The world you desire can be won. It exists.. it is real.. it is possible..
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