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Cable Update (GBPUSD)

  • #388,901
  • Jul 25, 2014 4:36am Jul 25, 2014 4:36am
Been short since the close of the London candle at 1.69782. Stop was about 20 points to the London open, which held the news push up. Still reckon I'll hold onto this for a while longer, previous 15m candle made a lower low since yesterdays action.
  • #388,902
  • Jul 25, 2014 4:56am Jul 25, 2014 4:56am
Hi guys,
here is what I see on cable:
support on daily tf in confluence with demand trend line at 1.6982
24-day volume weighted price has been increasing and presently sits at 1.7088
I expect price to rise from here until 1.7143
Stops should be fine at 1.6945
Happy trading guys.
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  • #388,903
  • Jul 25, 2014 5:13am Jul 25, 2014 5:13am
all I can say is your forum name suites you perfectly ,shame you won't be around for the Christmas Saga

Quoting DerekTrotter
{quote} nice one hot legs .. And too all you NEWBIE traders out there - pls remember dont try this at home - that is over trading and not making your pips lol Isnt that right now BONSEY .. come on be honest your tearing the roof of with negativity - ever heard a successfull trader do the same remember we are all here to help one another ..
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #388,904
  • Jul 25, 2014 5:28am Jul 25, 2014 5:28am
Quoting pipster1
What worries me about being short here is trading into strong support on mid range and Daily time frames. Will probably pass for now {image}

Better off shorting up around 17036 area.. stop 17050 - very doubtful it will get there today though.. may get back too 17019 today and Monday/ may get too 1.7036
  • #388,905
  • Jul 25, 2014 5:33am Jul 25, 2014 5:33am
I'll take a short here from 1.6967.........to 1.6938
  • #388,906
  • Jul 25, 2014 5:51am Jul 25, 2014 5:51am
Quoting cspip
I'll take a short here from 1.6967.........to 1.6938

Would rather wait.. and potentially short 17019 too 16970.. that's the 50 pip afternoon trade me thinks,

Then 16970 is the weekend and Monday trade that takes us back too 17037 area where the shorts lay and wait
  • #388,907
  • Jul 25, 2014 6:08am Jul 25, 2014 6:08am
1.7020/25 to watch for today.

Catalyst will be US durable goods orders news event at 8.30 ET.
Intraday only.
  • #388,908
  • Jul 25, 2014 6:10am Jul 25, 2014 6:10am
L at 1.6966.

Let us see how far it goes.

My stop is 6920 below.
Intraday only.
  • #388,909
  • Jul 25, 2014 6:11am Jul 25, 2014 6:11am
So

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  • #388,910
  • Jul 25, 2014 6:16am Jul 25, 2014 6:16am
Quoting JimmyC
Howzit Partial close executed automatically @ 1.7 SL moved to 1.71050 Will execute full close at 1.6919 - not adding anymore we're approaching accumulation levels {image} Trade safe
Howzit

Technical position GU, charts will be a bit messy cause there's a bit going on...

H1 - downtrend
-intraday- rebound time, deeply oversold with bullish divergence - but [color=red][email protected][/color]
Attached Image


H4

The 50 candle sma is now dynamic resistance / PA is trading below the 200 candle sma (sma's threatening to cross)
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Daily

70 pips to target... PA is below the 50 day sma which remains tracking N and above the 200 sma technical uptrend intact, overbought conditions have been worked off looking for signs of reversal on a daily basis

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No changes in trade management for now but becoming vigilant

Event risk USD core durable goods in a bit... I think the aeroplanes have finished crashing and all the wars are priced in...
.... lets wait and see but trend continuation or reversal will become topical next week


Looks like real trading... for a change
Attached Image (click to enlarge)
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Teamwork...
Attached Image


Trade safe!
  • #388,911
  • Jul 25, 2014 6:17am Jul 25, 2014 6:17am
Quoting Ken A
So {image}
What
Attached Images
Ghost Rider - WWTBMD?
  • #388,912
  • Jul 25, 2014 6:17am Jul 25, 2014 6:17am
Quoting chazzle
inverse hammer I reckon - long with 20 pip sl .... for 17020 GU H1 {image}
Will sell you cheap, 2 yards (w/o crayon)
  • #388,913
  • Jul 25, 2014 6:22am Jul 25, 2014 6:22am
Quoting Ken A
{quote} Beautiful color
<<<< Nice teeth!
Ghost Rider - WWTBMD?
  • #388,914
  • Jul 25, 2014 6:22am Jul 25, 2014 6:22am
Quoting albchr
{quote} What {image} {image}
With me.
Intraday only.
  • #388,915
  • Jul 25, 2014 6:23am Jul 25, 2014 6:23am
Quoting navk
{quote} With me.
Probably just a scalp but.... Let's see what happens.
Ghost Rider - WWTBMD?
  • #388,916
  • Jul 25, 2014 6:26am Jul 25, 2014 6:26am
Quoting JimmyC
{quote} Howzit Technical position GU, charts will be a bit messy cause there's a bit going on... H1 - downtrend -intraday- rebound time, deeply oversold with bullish divergence - but [email protected] ("[email protected]") {image} H4 The 50 candle sma is now dynamic resistance / PA is trading below the 200 candle sma (sma's threatening to cross) {image} Daily 70 pips to target... PA is below the 50 day sma which remains tracking N and above the 200 sma technical uptrend intact, overbought conditions have been worked off looking for signs of reversal on a daily basis {image}...
Nice charts Jimmy. You know what always gets me about that teamwork picture? The fact that they went ahead and connected the one rail anyway.
Ghost Rider - WWTBMD?
  • #388,917
  • Jul 25, 2014 6:28am Jul 25, 2014 6:28am
Quoting JimmyC
{quote} Howzit Technical position GU, charts will be a bit messy cause there's a bit going on... H1 - downtrend -intraday- rebound time, deeply oversold with bullish divergence - but [email protected] ("[email protected]") {image} H4 The 50 candle sma is now dynamic resistance / PA is trading below the 200 candle sma (sma's threatening to cross) {image} Daily 70 pips to target... PA is below the 50 day sma which remains tracking N and above the 200 sma technical uptrend intact, overbought conditions have been worked off looking for signs of reversal on a daily basis {image}...
really nice charts jimmy! thanks so much for taking the time to share
  • #388,918
  • Jul 25, 2014 6:29am Jul 25, 2014 6:29am
Quoting Ken A
{quote} Indeed ------>
Ok, your arrow is nicer than mine -------->
Ghost Rider - WWTBMD?
  • #388,919
  • Jul 25, 2014 6:32am Jul 25, 2014 6:32am
Hmm, no further down I see, might be still a good buy. I will wait for US to break EU's low and see how deep it brings GU, to buy 20-30 pips lower, hopefully.
Everyone can see the chart, but only a few can actually read it.
  • #388,920
  • Jul 25, 2014 6:34am Jul 25, 2014 6:34am
Quoting pipster1
{quote} Addict, you still in the trade? usually if I take a counter trend trade like that I stay conservative with my take profit. 1-1 or a few pips below short term resistance.
No, I posted later, that I exited at 6988, when I saw the bulls are too weak to go through 6990. Might enter again today, but lower, 9950-60 would be ideal.
Everyone can see the chart, but only a few can actually read it.
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