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Cable Update (GBPUSD)

  • #408,561
  • Edited 8:24am Feb 14, 2015 8:13am | Edited 8:24am
well ,cable is 2 part for a start so you need to consider $ ,also consider bullish off this level is significant technically ,price is very unlikely to drop 500 pips from that location now ,and to break the low would leave a huge wick to the upside against previous month ,its not logical to me ,market has turned in a timely manner rather than spike
subject to unforeseen events or major negative gaps Sunday ,

Quoting danndc
{quote} why not sorry? do you think that if the CPI comes out in red or green it won't move the market? not only carney's words can move the market
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  • #408,562
  • Feb 14, 2015 8:28am Feb 14, 2015 8:28am
theres red and green and all the shades between ,I mean it may or not even move the market ,you gotta look a big picture and then chuck in some other non listed events of both currencies ?thats all why I say single macro event ,
bit like the Scottish vote actually , which I guess was a bigger story in its own right
this moved the market for a bit then its history we carried on down ,fundi guys looking much further forward ..

Quoting danndc
{quote} why not sorry? do you think that if the CPI comes out in red or green it won't move the market? not only carney's words can move the market
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #408,563
  • Feb 14, 2015 8:40am Feb 14, 2015 8:40am
Scottish vote was the buzz at that time

Quoting Bones
too much focus on vote imo ,forex much bigger but agree news is major event {quote} {image}
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #408,564
  • Feb 14, 2015 8:48am Feb 14, 2015 8:48am
Quoting Bones
Scottish vote was the buzz at that time {quote}
Yes, I see it on your chart. Volatility spike and continuation.
The world you desire can be won. It exists.. it is real.. it is possible..
  • #408,565
  • Feb 14, 2015 8:56am Feb 14, 2015 8:56am
my view , still long

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  • #408,566
  • Feb 14, 2015 9:00am Feb 14, 2015 9:00am
we will see, i don't see any chance for gbp to change the trend even cause carnery was really dovish for the nearest time

we will look at the market really closely
  • #408,567
  • Feb 14, 2015 9:03am Feb 14, 2015 9:03am
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hi guys,, 1,, play break out over 5420 into a new upper range ,2 scalp and keep any open long trades to 5350 and add .3 but this could be risky and panic new or small accounts that are long at the top,,wait and buy at the 2nd support if 5350 goes,
  • #408,568
  • Feb 14, 2015 9:15am Feb 14, 2015 9:15am
Quoting elbert3
{image} hi guys,, 1,, play break out over 5420 into a new upper range ,2 scalp and keep any open long trades to 5350 and add .3 but this could be risky and panic new or small accounts that are long at the top,,wait and buy at the 2nd support if 5350 goes,
Yes, you smart man, you have a plan.

Me, cave man, post same chart. But same plan? Just a little caveat, need to look way left.
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The world you desire can be won. It exists.. it is real.. it is possible..
  • #408,569
  • Feb 14, 2015 9:16am Feb 14, 2015 9:16am
Quoting elbert3
{image} hi guys,, 1,, play break out over 5420 into a new upper range ,2 scalp and keep any open long trades to 5350 and add .3 but this could be risky and panic new or small accounts that are long at the top,,wait and buy at the 2nd support if 5350 goes,
i like to draw lines from either a low or high and draw it to the first initial move, on this day stay at the top draw the line ti the first initial move you can see the spike and look to the bottom, as it would have it you can see clear the cross over 10.20 emas has took place at the same time the original line was drawn, and price did not close below, so it went long at ie could we say at a clear trend change at 5150,, if you see my point
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note on this chart move to the last initial break out point and one should expect 5298 to be the next crossover for 10 and 50 ema,, price could comeback here and bounce to 5500 area,, not touch will be the 100 in blue,, sounds crazy but you can see it ..
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  • #408,570
  • Feb 14, 2015 9:30am Feb 14, 2015 9:30am
Quoting elbert3
{image} hi guys,, 1,, play break out over 5420 into a new upper range ,2 scalp and keep any open long trades to 5350 and add .3 but this could be risky and panic new or small accounts that are long at the top,,wait and buy at the 2nd support if 5350 goes,
?

i appreciate your charts and your ideas but, am i the only one who is waiting for the CPI to come out in order to confirm the direction?

what about if it comes out at 0.3 or even lower? what would happen?

and why are you guys so sure that cable will go up? could it simply be a pullback eventhough it has brokwn the TL?

maybe i could seem crazy
  • #408,571
  • Feb 14, 2015 9:30am Feb 14, 2015 9:30am
Quoting elbert3
{quote} i like to draw lines from either a low or high and draw it to the first initial move, on this day stay at the top draw the line ti the first initial move you can see the spike and look to the bottom, as it would have it you can see clear the cross over 10.20 emas has took place at the same time the original line was drawn, and price did not close below, so it went long at ie could we say at a clear trend change at 5150,, if you see my point {image} note on this chart move to the last initial break out point and one should expect 5298 to...
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yes i know,, whats he talking about,,but remember you have to study the past too,,now look at this every hit point in blue had a red sell candle after,,why ran out of buyers .??? but it was on a short trend,, but the candle with the arrow was in the the trend over 5150 but it still had a red candle, so will we start this week with a rd candle the a long buy ,hence that possible pull back to around 5290 area,,
  • #408,572
  • Feb 14, 2015 9:32am Feb 14, 2015 9:32am
It's evident next week will be very complicate...
Try don't lose pants never...
  • #408,573
  • Feb 14, 2015 9:38am Feb 14, 2015 9:38am
Quoting danndc
{quote}? i appreciate your charts and your ideas but, am i the only one who is waiting for the CPI to come out in order to confirm the direction? what about if it comes out at 0.3 or even lower? what would happen? and why are you guys so sure that cable will go up? could it simply be a pullback eventhough it has brokwn the TL? maybe i could seem crazy
hi D, your not the only one ,, you might be the only one here who is voicing it, but as i said there are a lot of good traders here and i bet they have already thought about it .the market men know what is going to happen on a day /week basis only in extreme cases ie the swiss ,, and i bet there was a lot of close people that made a killing that day..that it does not go the way they want it to. ie , i have a person coming into the care home,, we know as owners that we are having her come in,, but we also know that the staff might find her hard work,, we break the news to them and present her as a sorry case ,the staff feel empathy to the lady and they now make the decision that we can care for her,, same thing we are the staff,, do you follow that one,
  • #408,574
  • Feb 14, 2015 9:40am Feb 14, 2015 9:40am
Quoting Bones
well ,cable is 2 part for a start so you need to consider $ ,also consider bullish off this level is significant technically ,price is very unlikely to drop 500 pips from that location now ,and to break the low would leave a huge wick to the upside against previous month ,its not logical to me ,market has turned in a timely manner rather than spike subject to unforeseen events or major negative gaps Sunday , {quote} {image}
Hi Bones,

I had that level too and can't find it right now.... Been looking but go to go.
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The world you desire can be won. It exists.. it is real.. it is possible..
  • #408,575
  • Feb 14, 2015 9:44am Feb 14, 2015 9:44am
Quoting elbert3
{quote} hi D, your not the only one ,, you might be the only one here who is voicing it, but as i said there are a lot of good traders here and i bet they have already thought about it .the market men know what is going to happen on a day /week basis only in extreme cases ie the swiss ,, and i bet there was a lot of close people that made a killing that day..that it does not go the way they want it to. ie , i have a person coming into the care home,, we know as owners that we are having her come in,, but we also know that the staff might find her...
what do you mean elbert?
  • #408,576
  • Feb 14, 2015 9:54am Feb 14, 2015 9:54am
Quoting jasakreatif
my view , still long {image}
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same but with a retrace,, if you look at the highs little ups and downs the down and makes one of Mr Scotts charts , what do you think
  • #408,577
  • Feb 14, 2015 9:58am Feb 14, 2015 9:58am
I'm really not sure why this event is so important to you ?
none of us know for sure that its going up ,only buying off a major level ,break tl ,break pivot 5321,retrace last month over 50% , means somthing ,cpi may or may not be the catalyst of all that ,it may not even be a gbp thing ..

Quoting danndc
{quote}? i appreciate your charts and your ideas but, am i the only one who is waiting for the CPI to come out in order to confirm the direction? what about if it comes out at 0.3 or even lower? what would happen? and why are you guys so sure that cable will go up? could it simply be a pullback eventhough it has brokwn the TL? maybe i could seem crazy
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #408,578
  • Feb 14, 2015 9:59am Feb 14, 2015 9:59am
Quoting danndc
{quote} what do you mean elbert?
you need to change your picture,, it means they lead and we have to follow if the bigger powers set the trend then we follow,, the trend is your friend,, ,,as owners of the care home we make the decision and the staff follow once they have made their decision,,follow ,,simples,, lol regards , Billy
  • #408,579
  • Feb 14, 2015 10:04am Feb 14, 2015 10:04am
I do really like this chart ,but on price action I'm struggling ,

Quoting skyhok
Present top is only a part of complex running correction (4) - in line with guidelines that a complex wave (4) alternates with a simple (2). When this upward contracting diagonal actually finish, it would be a sharp drop towards the bottom of it. Game plan is ...... catch the falling eggs. {image}
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #408,580
  • Feb 14, 2015 10:09am Feb 14, 2015 10:09am
thanks Mr S probably needs to develop

Quoting Mr. Scott
{quote} Hi Bones, I had that level too and can't find it right now.... Been looking but go to go. {image}
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