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Cable Update (GBPUSD)

  • #412,101
  • Mar 23, 2015 4:18am Mar 23, 2015 4:18am
I always suffer from the principle of invariance. Invariably when I buy the price goes down and invariably when I sell the price goes up. I feel like smashing the computer.
  • #412,102
  • Mar 23, 2015 4:21am Mar 23, 2015 4:21am
Attached Image (click to enlarge)
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  • #412,103
  • Mar 23, 2015 4:37am Mar 23, 2015 4:37am
seems to be retesting internal TL off support
Attached Image (click to enlarge)
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Come with me if you want to live....
  • #412,104
  • Mar 23, 2015 4:43am Mar 23, 2015 4:43am
Quoting Dano12
{image}
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???
  • #412,105
  • Mar 23, 2015 4:52am Mar 23, 2015 4:52am
Quoting elbert3
{quote}{image}???
two projections in the triangle
Attached Image (click to enlarge)
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  • #412,106
  • Mar 23, 2015 5:15am Mar 23, 2015 5:15am
Quoting sakisf
I expect 1.47 to be revisited. Maybe during the day too. Short from 1.4980 & 1.4960 with stops @1.4920. Will reload if a visit @1.49 occurs.
Out
  • #412,107
  • Mar 23, 2015 5:19am Mar 23, 2015 5:19am
seems to me mkt is building (at least trying to) the HL- HH - HL - HH... thing.

4850 4860 last week's failed WP now quite confirmed demand
4900 this week's WP let's see if continuation.

below 4850 still the 4800 is a possible touch area during this week so better be cautious in case of downside!!!

Attached Image (click to enlarge)
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i set all my targets near 1.5300 just in case price will for some reasons pump there this week and i will not be on charts.

all SL is now @Be with a 680 cashed pips last week with 2/3 position.

added a small one again in 4849 ask price earlier with already stop @BE.

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90% of traders use TA, indicators and prediction
  • #412,108
  • Mar 23, 2015 5:37am Mar 23, 2015 5:37am
[quote=Ill-b-back;8156580]{quote} Last weeks longest wick is the top wick off the resistance/TL retest.
Long Wick on the weekly Bottom i mean!
  • #412,109
  • Mar 23, 2015 5:43am Mar 23, 2015 5:43am
EUR USD stronger
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: GBPUSD_H1.gif Size: 153 KB
  • #412,110
  • Mar 23, 2015 5:49am Mar 23, 2015 5:49am
Quoting Dano12
EUR USD stronger {image} {image}
good for the eur gbp bouncing in monthly 0.700
90% of traders use TA, indicators and prediction
  • #412,111
  • Mar 23, 2015 5:55am Mar 23, 2015 5:55am
Quoting _BBKing_
{quote} good for the eur gbp bouncing in monthly 0.700

see on USD JPY

SUPPORT NOW
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  • #412,112
  • Mar 23, 2015 6:00am Mar 23, 2015 6:00am
[quote=Dr.Zain;8157014]
Quoting Ill-b-back
{quote} Last weeks longest wick is the top wick off the resistance/TL retest. Long Wick on the weekly Bottom i mean!
Yes I knew what you meant, that's why I drew your attention to the longer upper wick off resistance and TL retest.
It is for this reason I don't consider the shorter lower wick a trend reversal.

We haven't even closed above the nearest daily resistance yet at 5031.

It may well reverse as I cannot predict the future with certainty, but I personally would need to see a weekly close above the broken and retested ascending TL before I would seriously consider it.
Come with me if you want to live....
  • #412,113
  • Mar 23, 2015 6:01am Mar 23, 2015 6:01am
retesting 15min candle breakout area
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDM15.png Size: 24 KB
Come with me if you want to live....
  • #412,114
  • Mar 23, 2015 6:59am Mar 23, 2015 6:59am
i expect a huge correction this week.
Never follow/blame others,Patience is the key skill for Succesfull trading.
  • #412,115
  • Mar 23, 2015 7:05am Mar 23, 2015 7:05am
Quoting sgkrishn
i expect a huge correction this week.
Sorry....up or down ?
  • #412,116
  • Mar 23, 2015 7:14am Mar 23, 2015 7:14am
Quoting MarkyB
{quote} Sorry....up or down ?
Upside bro
Never follow/blame others,Patience is the key skill for Succesfull trading.
  • #412,117
  • Mar 23, 2015 7:18am Mar 23, 2015 7:18am
Quoting sgkrishn
{quote} Upside bro
Thanks......can I ask why you think that ? Is it technical or fundamental view ?

I'm trying to learn as much as I can :-)
  • #412,118
  • Mar 23, 2015 7:27am Mar 23, 2015 7:27am
Just as I was telling you a few days ago:

LONDON (Reuters) - British factory orders stagnated unexpectedly in March, hurt by the sharpest decline of new business from abroad in more than two years, an industry survey showed on Monday.
......
"Sluggish export performance seems to be a headache that won't go away, with a still subdued euro zone and headwinds from a stronger pound," said Rain Newton-Smith, the CBI's director of economics.
Sterling has risen around 7 percent against the euro since the start of the year, and minutes from the Bank of England's March policy meeting showed rate setters were concerned that sterling strength might depress inflation for a long time.

As long as GBP is overvalued towards Euro, the numbers coming from it will be worse as time passes. GU needs to lower significantly in order to give room to their economy to breathe. EU/EZ is the major client of UK exports / services and as long as Euro is hurting, there would be no significant bullish trend in GU other than some 200-300 pip retraces like the current one.
  • #412,119
  • Mar 23, 2015 7:35am Mar 23, 2015 7:35am
Quoting MarkyB
{quote} Thanks......can I ask why you think that ? Is it technical or fundamental view ? I'm trying to learn as much as I can :-)
By the candle formation and ichimuko - kijun sen stability beyond the cloud level.
Attached Image (click to enlarge)
Click to Enlarge Name: Capture.JPG Size: 310 KB
Never follow/blame others,Patience is the key skill for Succesfull trading.
  • #412,120
  • Mar 23, 2015 7:51am Mar 23, 2015 7:51am
Quoting sakisf
Just as I was telling you a few days ago: LONDON (Reuters) - British factory orders stagnated unexpectedly in March, hurt by the sharpest decline of new business from abroad in more than two years, an industry survey showed on Monday. ...... "Sluggish export performance seems to be a headache that won't go away, with a still subdued euro zone and headwinds from a stronger pound," said Rain Newton-Smith, the CBI's director of economics. Sterling has risen around 7 percent against the euro since the start of the year, and minutes from the Bank of...
The reason why sterling has rallied vs the Euro is the same reason as to why the USD has been rallying against everything else, i.e. monetary policy divergence, with the BOE allegedly on track to hike rates in the near future and the ECB just starting out its QE program. To say that Sterling is overvalued vs the USD is very questionable in my opinion, after the pair dropped almost 20% in a straight line and with no perceived divergence in policy between the two central banks, other than perhaps on the timing of the first rate hike, but that perception is starting to change after the last FOMC...last but not least, do not forget positioning, with long USD being one of the most crowded and overextended trade in recent history
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