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Cable Update (GBPUSD)

  • #410,541
  • Edited 2:48am Feb 27, 2015 2:18am | Edited 2:48am
Pair's still flirting with the bottom ascending trendline, but looks set to break downwards for a lower target.
Next support target is 1.534.
Green pips everyone.

Edit: I think the first hurdle is 1.5400 psychological support. Once it breaks past that and stays broken on hour candle, it will continue its decline.
Edit: Trendline broken again, looking to close hourly candle below line indicating strong break.
Luck shines on the positive.
  • #410,542
  • Feb 27, 2015 2:50am Feb 27, 2015 2:50am
Retesting 1.54 again..
  • #410,543
  • Feb 27, 2015 2:50am Feb 27, 2015 2:50am
Attached Image (click to enlarge)
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  • #410,544
  • Feb 27, 2015 2:51am Feb 27, 2015 2:51am
Finally E/G gave up trying to go to .7250. Otherwise cable wouldn't have dropped. Too bad my limit at 1.5450 wasn't filled earlier in the morning, missed it by only a few. First target 1.5336 where EMA 200 of 4H and 55DMA meet atm. Moving stops to 1.5440.
Attached Image (click to enlarge)
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  • #410,545
  • Feb 27, 2015 2:52am Feb 27, 2015 2:52am
Quoting Dano12
{image}
Noticed u post alot during the moves .. now before well that would surprise a few over at Goldmans hombre ..

Sold at 155 400
  • #410,546
  • Feb 27, 2015 2:53am Feb 27, 2015 2:53am
Quoting antmob
Hi all, New to forex. Could someone recommend a link on this site where I can become familiar with the terminology and with understanding and utilising charts. I'm sure this question has been asked countless times before. I've traded equities but would like to get a better hold on foreign n be successful. Just stumped on where to start.... Any mentors out there.... Please :-)
Feel free to have a look at any of my threads dealing with counter trendlines, candlestick formation, moving averages etc. You might find something useful there
  • #410,547
  • Feb 27, 2015 2:55am Feb 27, 2015 2:55am
Quoting Spudforex
{quote} Noticed u post alot during the moves .. now before well that would surprise a few over at Goldmans hombre .. Sold at 155 400
maybe fake see on data MACRO from USa
  • #410,548
  • Feb 27, 2015 2:57am Feb 27, 2015 2:57am
I think we're approaching an area where we should find some support. The H2 200EMA as lying in ascending mode beneath the price and so far, there's no reason to believe theat the price will break it. We're also just above the 76.4% fib level anchored from 23rd feb, the last low.
  • #410,549
  • Feb 27, 2015 2:57am Feb 27, 2015 2:57am
Quoting Dano12
{quote} maybe fake see on data MACRO from USa
Well u could be on the money with that one ..
lets see hey hombre ..
  • #410,550
  • Feb 27, 2015 2:58am Feb 27, 2015 2:58am
Quoting Dano12
{quote} maybe fake see on data MACRO from USa
Agreed on watching the data tonight, it could easily halt the decline and bring us to short term consolidation/correction till next week.

Edit: We have hourly close with a lower low.
Luck shines on the positive.
  • #410,551
  • Feb 27, 2015 3:02am Feb 27, 2015 3:02am
Calling this as a last downwards move before the next BUY

3 sells in cool profit and now all in ready to close mode as we are in a buy zone for sure
no buy confirmed as of yet ..
SPUD.
  • #410,552
  • Feb 27, 2015 3:11am Feb 27, 2015 3:11am
Quoting YvetteTeo
{quote} Agreed on watching the data tonight, it could easily halt the decline and bring us to short term consolidation/correction till next week. Edit: We have hourly close with a lower low.
earlier are still in Germany EUR usd, also can budge price GBP USD
  • #410,553
  • Feb 27, 2015 3:11am Feb 27, 2015 3:11am
Quoting YvetteTeo
Pair's still flirting with the bottom ascending trendline, but looks set to break downwards for a lower target. Next support target is 1.534. Green pips everyone. Edit: I think the first hurdle is 1.5400 psychological support. Once it breaks past that and stays broken on hour candle, it will continue its decline. Edit: Trendline broken again, looking to close hourly candle below line indicating strong break.
retraced below of yesterday's move and i added moderate position
  • #410,554
  • Feb 27, 2015 3:13am Feb 27, 2015 3:13am
It's the end of the month and profit taking happens. I locked my longs in case it keeps falling. Better safe than sorry.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd-m30-fxpro-financial-services-2.png Size: 55 KB
  • #410,555
  • Feb 27, 2015 3:18am Feb 27, 2015 3:18am
Quoting Spudforex
Calling this as a last downwards move before the next BUY 3 sells in cool profit and now all in ready to close mode as we are in a buy zone for sure no buy confirmed as of yet .. SPUD.
Bought the dip 5391 sl is on that me for the day be friends family food and drink,, but not all in that order lol ,, pop in later if i can , gl, guys
  • #410,556
  • Feb 27, 2015 3:27am Feb 27, 2015 3:27am
Quoting emanco
It's the end of the month and profit taking happens. I locked my longs in case it keeps falling. Better safe than sorry. {image}
I was thinking of you yesterday i thought you might of took the money higher up,,gl lets see if it can get back up there looks a little hard here ,regards E
  • #410,557
  • Feb 27, 2015 3:33am Feb 27, 2015 3:33am
Quoting emanco
It's the end of the month and profit taking happens. I locked my longs in case it keeps falling. Better safe than sorry. {image}
If rejected from 5440 it may visit 5320-40 imho
  • #410,558
  • Feb 27, 2015 3:40am Feb 27, 2015 3:40am
Try add long @1.5395
  • #410,559
  • Feb 27, 2015 3:42am Feb 27, 2015 3:42am
Quoting elbert3
{quote} I was thinking of you yesterday i thought you might of took the money higher up,,gl lets see if it can get back up there looks a little hard here ,regards E
Yeah I'm a relaxed trader and don't always keep an eye on the market. If I do I become compulsive and ruin my positions. I left TP open this time since I'm expecting it to move higher in the coming weeks. I might be wrong, who knows. That's the market and we take the risks. Would have been a good scalp though. Anyway if it's in the green it's good for me.
  • #410,560
  • Feb 27, 2015 3:46am Feb 27, 2015 3:46am
Quoting elbert3
{quote} I was thinking of you yesterday i thought you might of took the money higher up,,gl lets see if it can get back up there looks a little hard here ,regards E
Had slept and missed booking profits on shorts at 5387. and closed at 5400.
Intraday only.
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