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Cable Update (GBPUSD)

  • #407,961
  • Feb 6, 2015 3:46pm Feb 6, 2015 3:46pm
like this ,but I already said stronger close now would make a difference to how id view
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  • #407,962
  • Feb 6, 2015 6:10pm Feb 6, 2015 6:10pm
Thank you Elbert - 1.5480 area has my attention now as a place to short some more in line with the trend.

(I think you will wait for the retest on more dip to go long next week to that target above no?)

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  • #407,963
  • Feb 6, 2015 7:29pm Feb 6, 2015 7:29pm
Quoting Bones
possibly the weekly is warning us with that ,most ideal is upper tl ,overall the structure can be bearish I believe , {image}
Think you might be right....
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  • #407,964
  • Feb 7, 2015 12:18am Feb 7, 2015 12:18am
Quoting Bones
like this ,but I already said stronger close now would make a difference to how id view {image}
my thought is that the pair will drop because of the strong nfp and especially strong wage growth and next uk inflation will be very dovishyour opinion?
  • #407,965
  • Feb 7, 2015 3:31am Feb 7, 2015 3:31am
The green lines are important. Would like to see a retest of 1.5060 before going up.
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  • #407,966
  • Feb 7, 2015 3:54am Feb 7, 2015 3:54am
Looking longer term, have things changed enough, fundamentally, to allow a change of trend?

They say it is written in the charts, so what do you see

W bottom , maybe reverse Head & Shoulders , time will tell

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  • #407,967
  • Feb 7, 2015 4:15am Feb 7, 2015 4:15am
Quoting Mr. Scott
{quote} Think you might be right.... {image}
Hi Scott,
Is it bearish butterfly?
I see your X is at 1.88, may I ask why not 1.917 (previous high)?
At daily tf I see 1.27AB = CD, RSI divergence
at weekly tf, it almost touched upper channel line (as per Bones post)

please correct me, I am still newbie learning harmonic...
  • #407,968
  • Feb 7, 2015 4:22am Feb 7, 2015 4:22am
Quoting Erebus
Looking longer term, have things changed enough, fundamentally, to allow a change of trend? They say it is written in the charts, so what do you see W bottom , maybe reverse Head & Shoulders , time will tell {image}
Anything is math!
  • #407,969
  • Feb 7, 2015 4:46am Feb 7, 2015 4:46am
Quoting Kajos2250
{quote} GU H8 GMT+2 New HH on the H8, thanks for the YPS1 ~4984! I like the bullish engulfing followed by a marubozu today on the daily, there are a lot of space to rise Maybe ~58 is coming... Good luck! {image}
Fresh HH on the daily since 7 months, rejected by yearly PS1 and hit the bearish TL by bullish marubozu.
Closing above 2 weeks high.
No mans land till ~5500, i hope already on the next week

Good luck!
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Anything is math!
  • #407,970
  • Feb 7, 2015 4:51am Feb 7, 2015 4:51am
Quoting Erebus
Looking longer term, have things changed enough, fundamentally, to allow a change of trend? They say it is written in the charts, so what do you see W bottom , maybe reverse Head & Shoulders , time will tell {image}
I think in order to be bullish, GU has to break above upper weekly channel (1.53500).
At the moment GU got hammered at upper weekly channel.
Now retesting 1.52500 which is previous daily resistance turn to support right now.
Just my 2 cents.
  • #407,971
  • Feb 7, 2015 4:59am Feb 7, 2015 4:59am
Quoting Bones
the chart is range at this time ,just by eye I can see it is still dark cloud on my chart technically ,on the 15 jan and 28 jan you can see similar set ups the effect that price closed lower for a period of 3 days each time consolidation is not necessarily the best time to read candles,but location weekly pivot , tl and gap add to set up {quote} {image}
like your post and the way you explain it
thanks.
  • #407,972
  • Feb 7, 2015 7:04am Feb 7, 2015 7:04am
Quoting Idkurv
{quote} Hi Scott, Is it bearish butterfly? I see your X is at 1.88, may I ask why not 1.917 (previous high)? At daily tf I see 1.27AB = CD, RSI divergence at weekly tf, it almost touched upper channel line (as per Bones post) please correct me, I am still newbie learning harmonic...
Hi Idkurv,

Hmmm.. I want to answer your question....

Is it bearish butterfly?

Well, I would say deep crab due to symmetry.

I see your X is at 1.88, may I ask why not 1.917 (previous high)?

Why not previous high, why is it more of two waves and not a swing? I would say because it fits so well.

I understand sometimes I don't follow the rules, so maybe we could say confluence? Or that sometimes I have my own rules?

At daily tf I see 1.27AB = CD, RSI divergence at weekly tf, it almost touched upper channel line (as per Bones post)

I agree. I saw Bones chart and liked it, so I posted mine. Really not sure what level Bones likes, but it is weekly and appears to me we are in the same area.

Really not sure how this comes across, but I am trying to answer your question and not trying to be obtuse.

Maybe we could say I am interested in that level and the reaction?

If it is not clear, please ask and I will try to explain.
The world you desire can be won. It exists.. it is real.. it is possible..
  • #407,973
  • Feb 7, 2015 7:56am Feb 7, 2015 7:56am
Quoting Mr. Scott
{quote} Hi Idkurv, Hmmm.. I want to answer your question.... Is it bearish butterfly? Well, I would say deep crab due to symmetry. I see your X is at 1.88, may I ask why not 1.917 (previous high)? Why not previous high, why is it more of two waves and not a swing? I would say because it fits so well. I understand sometimes I don't follow the rules, so maybe we could say confluence? Or that sometimes I have my own rules? At daily tf I see 1.27AB = CD, RSI divergence at weekly tf, it almost touched upper channel line (as per Bones...
Hi Scott,

Thank you for the explanation, it is clear to me now.
Really appreciate it
  • #407,974
  • Feb 7, 2015 8:00am Feb 7, 2015 8:00am
Quoting Idkurv
{quote} Hi Scott, Thank you for the explanation, it is clear to me now. Really appreciate it
You are welcome.
The world you desire can be won. It exists.. it is real.. it is possible..
  • #407,975
  • Feb 7, 2015 10:54am Feb 7, 2015 10:54am
Quoting Mr. Scott
{quote} Think you might be right.... {image}
so do you think it will keep going down and test the lows? or what?
  • #407,976
  • Feb 7, 2015 11:28am Feb 7, 2015 11:28am
how can you people say that it is going to challenge the TL when you read this?

http://www.forexcrunch.com/forex-wee...february-9-13/

BOE warried about EU ----- USA in good feet of growth

)))))))))
  • #407,977
  • Feb 7, 2015 11:57am Feb 7, 2015 11:57am
Quoting danndc
how can you people say that it is going to challenge the TL when you read this? http://www.forexcrunch.com/forex-wee...february-9-13/ BOE warried about EU ----- USA in good feet of growth )))))))))
then you should short EG
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Anything is math!
  • #407,978
  • Feb 7, 2015 2:59pm Feb 7, 2015 2:59pm
Quoting Kajos2250
{quote} then you should short EG {image}
i know and i know too that EU is going to face more diffulct cause there is no gorwth, especially here in italy where i come from

and the EUR drop, will take with him GBP cause they are strictly connected

opinions on CABLE? i think we will see more dovishness from UK inflation report even because of the - trade balance

i think GBPUSD will aim straight to 1.48 cause this month FED can not be no hawkish and talk about hiking soon
  • #407,979
  • Feb 7, 2015 3:13pm Feb 7, 2015 3:13pm
While we don't see something in Europe/USA for change tendency, only secure direction is down. In this 7 months not important where you put sell order. Always will give profits. Even if pullback is strong.
Try don't lose pants never...
  • #407,980
  • Feb 7, 2015 4:48pm Feb 7, 2015 4:48pm
Quoting braintheboss
While we don't see something in Europe/USA for change tendency, only secure direction is down. In this 7 months not important where you put sell order. Always will give profits. Even if pullback is strong.
GBP is heavily afflicted by Europe, its first tared partner.... so 1+1 is always 2
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