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Cable Update (GBPUSD)

  • #393,741
  • Aug 16, 2014 4:37am Aug 16, 2014 4:37am
Hi XE ,really its not going there this year at all ,please make sure you understand hda s warning on every post ,

Quoting xetrader
{quote} Yeah HDA is right i will remain long with HDA no matter what happens till 1.7600 good luck HDA & GU both..
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #393,742
  • Aug 16, 2014 4:46am Aug 16, 2014 4:46am
why interesting weekly ?
cable is oversold ,and could retrace ,but that dose not mean it will ,Ive seen it fall for weeks ,and rise
2008 it fell huge amount for 6 months

Quoting Naokia980
Weekly candle is interesting..Maybe correction ended..
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #393,743
  • Aug 16, 2014 4:58am Aug 16, 2014 4:58am
if the low goes ,we have high prob bearish continuation
falling 2 now could be falling 3
Attached Image (click to enlarge)
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #393,744
  • Aug 16, 2014 5:25am Aug 16, 2014 5:25am
Quoting HDA
GOOD EVENING FOREX FACTORY MEMBERS AND GUESTS I will be away until the 25th of AUGUST, 2014. I will not be around to share my trade ideas. Just a heads up - regardless of what goes on in the market for the next two weeks - I remain LONG - GBP/USD I remain LONG - GBP/CAD All Limit Orders have been set. As planned, I am currently earning my positive GBP/USD swaps as I continue to hold long in my trade. The are no Option Expiry for 10am eastern on Monday, August 18, 2014. The GBP/USD will continue to rise regardless of what technical, fundamental or...
I like your posts and messages HDA, specialy that related with options prices.
Long life to you.
  • #393,745
  • Aug 16, 2014 8:59am Aug 16, 2014 8:59am
Quoting Bones
hi scott ,gbp chf 161.8 is that poss ? {quote}
Hi Bones,

What can we say, anything is possible? In fx and markets. And in life.

But I look for symmetry like you do I believe. And relationships between swings to find likely targets, reversal points, etc. Problem is still need PA at areas of interest. Failure tells as much as success. Look at points of failure, what happens? They become s/r. Same for you?

On my chart we stopped at confluence zone. I pattern that coincides with 38.2 Looking slightly bearish but....

If you were asking can a 78.6 get me 161.8, the answer is yes. But do Bones analysis EG larger tf.
The world you desire can be won. It exists.. it is real.. it is possible..
  • #393,746
  • Edited 10:39am Aug 16, 2014 9:53am | Edited 10:39am
Quoting Ill-b-back
{quote} lol, DAMN, you reading my mind again cousin I thought there was only 1 copy of my treasure map {image} {image} {image}
HDA is saying this will


But i am seeing max high 1.67489 & then more DOWN to 1.66350
Lets see what happens
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A good trader follows his rules, but great trader knows when to break them
  • #393,747
  • Aug 16, 2014 11:25am Aug 16, 2014 11:25am
I tend to agree with Bones. GBPUSD is looking very weak, on a weekly chart especially. By Quarters Theory, it has broken the uptrend in closing below the previous wave's low (on a weekly basis). We may get a little bounce here, as sentiment is still overwhelmingly bullish, but the fundamental theme that drove the pair higher for the last 14 months seems to have finally come to an end.
  • #393,748
  • Aug 16, 2014 12:27pm Aug 16, 2014 12:27pm
Quoting ill_be_back
{quote} HDA is saying this will But i am seeing max high 1.67489 & then more DOWN to 1.66350 Lets see what happens {image}
Yea sure, the markets have always defied all logic at certain instances and given a lot of people a very huge chuck of the humility pie to eat. Anyway lets wait and see.
  • #393,749
  • Aug 16, 2014 1:00pm Aug 16, 2014 1:00pm
Thanks Scott our beliefs are the same ,Yes failure or success big style is not equal to other pa and more weight should be added to this level ,
eur gbp is bullish I doubt much under big rn anytime soon ,


Quoting Mr. Scott
{quote} Hi Bones, What can we say, anything is possible? In fx and markets. And in life. But I look for symmetry like you do I believe. And relationships between swings to find likely targets, reversal points, etc. Problem is still need PA at areas of interest. Failure tells as much as success. Look at points of failure, what happens? They become s/r. Same for you? On my chart we stopped at confluence zone. I pattern that coincides with 38.2 Looking slightly bearish but.... If you were asking can a 78.6 get me 161.8, the answer is yes....
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #393,750
  • Aug 16, 2014 3:21pm Aug 16, 2014 3:21pm
Gidday GBP/US

If it all sounds confusing 1.71 or 1.66 levels

My thoughts is to try an get in lower

It would seem a retrace is possible to

around low 1.66 etc

After a we burst to 1.674 etc

I see other posts saying lower than 1.66 also

Nothing wrong with taking smaller trades until

we figure which way GBP/US is going
  • #393,751
  • Aug 16, 2014 3:24pm Aug 16, 2014 3:24pm
Quoting ill_be_back
{quote} HDA is saying this will But i am seeing max high 1.67489 & then more DOWN to 1.66350 Lets see what happens {image}
Do you think it will not even test higher levels on a larger timeframe? If it is bearish long term, we have probably to see a retest of the last highs (if we assume this is a H&S for example).
Fix up, trade sharp ...
  • #393,752
  • Aug 16, 2014 4:44pm Aug 16, 2014 4:44pm
Quoting Hickson
{quote} Do you think it will not even test higher levels on a larger timeframe? If it is bearish long term, we have probably to see a retest of the last highs (if we assume this is a H&S for example).
What TF & retest of Last highs u looking at
A good trader follows his rules, but great trader knows when to break them
  • #393,753
  • Aug 16, 2014 5:02pm Aug 16, 2014 5:02pm
I see the pound dropping to 1.66383ish level and testing the daily 200 ema early in the week. Will most likely set a few long positions from there with some tight stops and try and catch the bottom of this possible reversal. Good GBP data mixed with a bit of bad US data later in the week could be the bump up were looking for to get this ball rolling northbound.
  • #393,754
  • Aug 16, 2014 5:24pm Aug 16, 2014 5:24pm
Quoting ill_be_back
{quote} What TF & retest of Last highs u looking at
Daily and weekly.
Fix up, trade sharp ...
  • #393,755
  • Aug 16, 2014 5:24pm Aug 16, 2014 5:24pm
Quick thoughts on GBPUSD,
On its weekly chart we can clearly see this bearish divergence while price stopped at its key support level 1.6700 level.
Next week we will have both BOE rate decision and FOMC within the same day. I expect massive volatility kicks in on the 1.6700 zone, and if I need to make a move on GU, it would be after the BOE rate decision and FOMC.
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For other trade ideas next week, feel free to check out my latest thoughts on EURAUD and EURUSD.
http://www.forexfactory.com/showthre...77#post7679277
On USDJPY, GBPNZD, GBPJPY and GBPAUD.
http://www.forexfactory.com/showthre...91#post7679291
If u luv happiness, start w/ discomfort, make friends w/ pain and failure.
100 Hits 0 Miss All Time Return: 35.8%
  • #393,756
  • Aug 16, 2014 5:38pm Aug 16, 2014 5:38pm
Quoting Hickson
{quote} Daily and weekly.
Next week lot of News, I am Going to stick with this for now
Quoting ill_be_back
{quote} i am seeing max high 1.67489 & then more DOWN to 1.66350 Lets see what happens {image}
A good trader follows his rules, but great trader knows when to break them
  • #393,757
  • Aug 16, 2014 6:35pm Aug 16, 2014 6:35pm
Quoting ill_be_back
{quote} Next week lot of News, I am Going to stick with this for now {quote}
Last news were GREEN like you while Carney blabla was RED like usual. Something is fishy here ...
Fix up, trade sharp ...
  • #393,758
  • Aug 17, 2014 12:51am Aug 17, 2014 12:51am
Quoting ill_be_back
{quote} Then why is this not Shooting UP, Even after the mega fill at 1.6700 is still under 1.6700 I think more DOWN before UP {image}

16592 stop below 16587 is where the move will bomb up... bids will start coming in at 16618.... and that will also be a 2nd entry for those who want to wait and see price make aa move first.. 16592 will prob go too 16584 area then retrace for others to get in at 16618 - that's by 2 cence worth on it
  • #393,759
  • Aug 17, 2014 1:06am Aug 17, 2014 1:06am
Quoting RussJ
{quote} 16592 stop below 16587 is where the move will bomb up... bids will start coming in at 16618.... and that will also be a 2nd entry for those who want to wait and see price make aa move first.. 16592 will prob go too 16584 area then retrace for others to get in at 16618 - that's by 2 cence worth on it
so you are a astrologer???
  • #393,760
  • Aug 17, 2014 1:21am Aug 17, 2014 1:21am
Quoting ill_be_back
{quote} HDA is saying this will But i am seeing max high 1.67489 & then more DOWN to 1.66350 Lets see what happens {image}
What has me suspicious at this point is the big Wednesday bear rush towards some support. I see this a lot on cable, it makes a big move in the final leg of its journey towards a support area catching the eye of many bears in the process, then consolidates for a day or 3 before reversing direction completely.

This is pretty much what is going on now, but will have to see how far it "retraces" if that's all it does. We hit the daily 200sma and closed above my 38.2 fib with 1 and 4 hr showing consolidation.

Anyway, I've decided not to make any assumptions at this point, last time I did that I got my ass handed to me.
Attached Image(s) (click to enlarge)
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