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Cable Update (GBPUSD)

  • #389,581
  • Jul 29, 2014 6:17am Jul 29, 2014 6:17am
  • #389,582
  • Jul 29, 2014 6:17am Jul 29, 2014 6:17am
Quoting albchr
{quote} Go for it bro. As of now, and unless the noise this week really changes things, if this doesn't reach 6750+ I'll be surprised. But hey, I've been surprised before.
have faith in the system thats what i say and thanks Al
  • #389,583
  • Jul 29, 2014 6:19am Jul 29, 2014 6:19am
Quoting elbert3
{quote} Hi Hickson,,in what way ??
Deep insights in the life of a scalper
Fix up, trade sharp ...
  • #389,584
  • Jul 29, 2014 6:20am Jul 29, 2014 6:20am
Quoting elbert3
{quote} GM, long time hope your ok Regards Billy
Greetings to you as well, Bill.

Considering the ultra low volatility in Spot fx I'm trading mostly futures & options these days. Cable's
my only Spot FX position right now.

Hope all is good on your end as well.
Hear the music before the song is over ...
  • #389,585
  • Jul 29, 2014 6:21am Jul 29, 2014 6:21am
There's confluence of so many things right now to go long that it would be dumb not to try with that R:R that it offers from my point of view.

"GBP/USD felt to really important level if there's an chance that it will conitnue the uptrend that we might be just getting to the entry point at the moment. There's an confluence of green marked Demand zone, 50% Fibo retracement of last swing up (1,669-1,719), daily trend line and the previous smaller leg up low at 1,685 level (red circle). Todays down move was mostly EUR/GBP strenght driven and that's not an rarity that EUR/GBP finds some demand at the end of a month with Bundes Bank selling pounds for Euro which is due to Great Britian paying it's European Union charges in Pounds. There's also an bullish divergence present on 4 Hour chart which might be another signal to go long there, the Risk:Reward ratio (around 7,5) would be great as if we get an bounce here I'd aim for another high close to 1,73 level which is an monthly time frame important Fibo level (50% retracement of down move from 2,12 to 1,35). Stop loss for long entry would be placed under the last dip towards 1,69 level (blue elipse)"

Chart can be found here ~
https://www.tradingview.com/v/XN99Tlcx/
  • #389,586
  • Jul 29, 2014 6:22am Jul 29, 2014 6:22am
Quoting JimmyC
GU 1H technical structure forming within a down trend only 4 touches so... forming... Rising wedge GU 1H {image}
GU 1H

Wedge confirmed with break, continuation pattern -> south

Attached Image


Support breached SL moved to profit lock all levels now.

Can breath

Trade safe
  • #389,587
  • Jul 29, 2014 6:23am Jul 29, 2014 6:23am
Quoting nAVIN2007
{quote} in one year u gonna kick yourself ofcourse i can be wrong..but if it does its text book stuff lets get lucky amigo
all in hand Nav and just in case covered sl with other trade ,,gl
  • #389,588
  • Jul 29, 2014 6:24am Jul 29, 2014 6:24am
Quoting DerekTrotter
{quote} have faith in the system thats what i say and thanks Al
In the end, that's all we can do.

Just a general question to all as I'm curious what others think here. Being we're still in a "technical" bull trend and ignoring the structure of this turn for a moment.....

What level would most of you think needs to be broken to call this a trend change? Question is open to all. Thanks in advance.
Ghost Rider - WWTBMD?
  • #389,589
  • Jul 29, 2014 6:25am Jul 29, 2014 6:25am
Uptrend still intact - adding fresh longs at 1.6950/55 zone..
Daily chart is Over-Sold now.
Price is still above major uptrend-line
SpotPip - we SPOT, you PIP
  • #389,590
  • Jul 29, 2014 6:26am Jul 29, 2014 6:26am
Quoting Hickson
{quote} Deep insights in the life of a scalper
i am trying to get into a short postion without the worry of having room upstairs for a higher move ,which i still think there might be ,once a am ready i will post it ,regards E
  • #389,591
  • Jul 29, 2014 6:27am Jul 29, 2014 6:27am
Quoting albchr
{quote} Hi Yardi What makes you think I'm not?
The emoji it makes me smile, but it looks like someone waiting to cross the road at the perfect time , they look left and right to check the road is clear, once the road is clear they cross it only for a veron to come along and take them out.
Peace & Pips
  • #389,592
  • Jul 29, 2014 6:30am Jul 29, 2014 6:30am
Quoting albchr
{quote} In the end, that's all we can do. Just a general question to all as I'm curious what others think here. Being we're still in a "technical" bull trend and ignoring the structure of this turn for a moment..... What level would most of you think needs to be broken to call this a trend change? Question is open to all. Thanks in advance.
1,695 would be the first sign, then I'd say 1,67 would be the clear sign that trend has turned with 1,625-1,63 would confirm that we are in bearish structure.
  • #389,593
  • Jul 29, 2014 6:32am Jul 29, 2014 6:32am
I remain short

HDA OUT
  • #389,594
  • Jul 29, 2014 6:34am Jul 29, 2014 6:34am
Quoting wuza
{quote} 1,695 would be the first sign, then i'd say 1,67 would be the clear sign that trend has turned with 1,625-1,63 would confirm that we are in bearish structure.
i like the thinking,,regards e i am on the same lines , scalping allong the way
  • #389,595
  • Jul 29, 2014 6:35am Jul 29, 2014 6:35am
usd is challenging last week high ,sure looks bullish to me
usd lfx

Quoting Greener
{quote} leave room for some jawboning from US..
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #389,596
  • Jul 29, 2014 6:36am Jul 29, 2014 6:36am
Quoting HDA
I remain short HDA OUT

I am short from 7150. what are you trying to prove. you are the only one maing profit???
  • #389,597
  • Jul 29, 2014 6:37am Jul 29, 2014 6:37am
Quoting HDA
I remain short HDA OUT
Short people

Inserted Video
  • #389,598
  • Jul 29, 2014 6:39am Jul 29, 2014 6:39am
I don't know if somebody already added this but here it is: http://stks.co/t0amQ

In light of this "the real exchange rate is overvalued by 5-10%," it concludes.
"The secret of politics? Make a good treaty with Russia." Otto von Bismarck
  • #389,599
  • Jul 29, 2014 6:39am Jul 29, 2014 6:39am
Quoting YardiFX
{quote} The emoji it makes me smile, but it looks like someone waiting to cross the road at the perfect time , they look left and right to check the road is clear, once the road is clear they cross it only for a veron to come along and take them out.
Ohhh... I see. I can understand that. That's only me to see what happens on all the "little" moves and bounces I call through the day. I do that because A) I'm bored and B) I think it helps keep me focused on how price moves. I'm still learning and all you know.

Perhaps I shouldn't do that so much here. It does get old and takes up unnecessary space. I used to do it exclusively in my journal but, it can get so lonely there.
Ghost Rider - WWTBMD?
  • #389,600
  • Jul 29, 2014 6:40am Jul 29, 2014 6:40am
here s the deal

Quoting Bones
die hard bulls definitely in for a shock {image}
On-site guru & also FF member's' psychiatrist, when not drinking tea
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