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Cable Update (GBPUSD)

  • #412,961
  • Apr 6, 2015 12:58am Apr 6, 2015 12:58am
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morning looking to break over the tl if not look back to 4868
  • #412,962
  • Apr 6, 2015 1:01am Apr 6, 2015 1:01am
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  • #412,963
  • Apr 6, 2015 3:41am Apr 6, 2015 3:41am
(technicals: 45 period closing price 1, 2 and 3 std dev. bollingers [ see 'three sigma rule' ], set up as 'red, white, and blue' [ flag colors, for memory's sake ])

Might blowout to the H4 3 sigma of 1.4984, which is 40 pips above~, and barely touch 1.50, giving shorts a psychological advantage as the 'BoE stays steady' expectation probably has jittery commitment and USDCAD might spread higher if you just look at simple PA USDCAD bar chart, which has an 'arc'-up kind of feel.

Short limit at 1.5006 might be an idea with a 15 or so pip stop, small size. Time based exit, before the BoE on Thursday.

Thoughts?
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  • #412,964
  • Apr 6, 2015 7:20am Apr 6, 2015 7:20am
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  • #412,965
  • Apr 6, 2015 8:22am Apr 6, 2015 8:22am
anyone know what is the fundamental market condition right now ?

politicians are offering best economical growth for people because of UK election next month
  • #412,966
  • Apr 6, 2015 9:11am Apr 6, 2015 9:11am
get ready for 5000
  • #412,967
  • Apr 6, 2015 9:16am Apr 6, 2015 9:16am
down until london open
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  • #412,968
  • Apr 6, 2015 9:23am Apr 6, 2015 9:23am
Quoting GrowthHack
anyone know what is the fundamental market condition right now ? politicians are offering best economical growth for people because of UK election next month
fundemental is:

gov. + cameron wants GBP depreciation.
USD is stronger than ever.
EUR/GBP should trace lower, but that creates trade imbalance as cameron told.

nothing new...
  • #412,969
  • Apr 6, 2015 10:04am Apr 6, 2015 10:04am
Quoting openyoureyes
{quote} fundemental is: gov. + cameron wants GBP depreciation. USD is stronger than ever. EUR/GBP should trace lower, but that creates trade imbalance as cameron told. nothing new...
Then do you think tomorrow will have fast touch around 1.50x before continue down trend?
Try don't lose pants never...
  • #412,970
  • Apr 6, 2015 11:26am Apr 6, 2015 11:26am
Couldn't break the 1.4980 zone. It will probably try again, and I suspect it will fail. My sentiment remains bearish. Failure to close above 1.5 will likely call for a harsh drop, exposing the 1.45 zone. My thoughts on the day.
  • #412,971
  • Apr 6, 2015 11:32am Apr 6, 2015 11:32am
Quoting braintheboss
{quote} Then do you think tomorrow will have fast touch around 1.50x before continue down trend?
there is chance for 4950
  • #412,972
  • Apr 6, 2015 11:33am Apr 6, 2015 11:33am
Quoting braintheboss
{quote} Then do you think tomorrow will have fast touch around 1.50x before continue down trend?

1.482x is more likely,
before london open; we have GBP - Services PMI.
  • #412,973
  • Apr 6, 2015 11:36am Apr 6, 2015 11:36am
Then this means bull pullback is close to finish this week, don't you?
Try don't lose pants never...
  • #412,974
  • Edited 12:41pm Apr 6, 2015 11:45am | Edited 12:41pm
hard to tell,
nowadays I deal vanilla FX options only.

so I only watch news + fundementals.

watch USD Index close.

personally I don't enter any countertrend trades (vs USD)

what I do is:
trading USD against the weakest currency (DKK, SEK, NOK, [JPY]).

because some countries want their money weak,
others don't.
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  • #412,975
  • Apr 6, 2015 12:28pm Apr 6, 2015 12:28pm
http://forex-nawigator.biz/forum/day...26604-150.html

This was happening and replay
  • #412,976
  • Apr 6, 2015 12:48pm Apr 6, 2015 12:48pm
Weird day...
Try don't lose pants never...
  • #412,977
  • Apr 6, 2015 12:49pm Apr 6, 2015 12:49pm
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  • #412,978
  • Apr 6, 2015 2:22pm Apr 6, 2015 2:22pm
Quoting Kajos2250
{quote} GU H8 GMT+2 Not too much, narrowing, still in bearish marubozu, watching BO... Good luck! {image}
GU H8 GMT+2

After some game of bulls (sl for me), i hope the bearish engulfing reaction to the broken YPS1 again will take its effect and the bears weak up, but little confused by being in previous bullish marubozu.
Sell limit .4907, expecting new low...

Good luck!
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Anything is math!
  • #412,979
  • Apr 6, 2015 2:53pm Apr 6, 2015 2:53pm
don't be baffled by technicals,
fundementals > technicals

you can't change this :
USD bulls until rate hike,
USD ultra bulls after rate hike
  • #412,980
  • Apr 6, 2015 3:42pm Apr 6, 2015 3:42pm
I haven't posted here much (I usually post on the gbp/jpy threads)

Here's my two bits:

Currently long from 1.48780. Planned trade duration is intraday scalp; slated to be finished within a day or a few hours.

Hard SL at 1.48400, Manual soft SL subject to early closing depending on price action.
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