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Cable Update (GBPUSD)

  • #420,381
  • Oct 13, 2015 10:22am Oct 13, 2015 10:22am
I think its going by upward channel
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  • #420,382
  • Oct 13, 2015 10:27am Oct 13, 2015 10:27am
Quoting otamira
I think its going by upward channel {image}
i guess it is forming second shoulder from shoulder-head-shoulder formation...
  • #420,383
  • Oct 13, 2015 10:58am Oct 13, 2015 10:58am
Quoting Bones
thats pretty low probability ? probably would said same thing last week , well you never said anything about 5450 or 5500 ,you must have thought it {quote}
you didnt get me... thats alright...
  • #420,384
  • Oct 13, 2015 11:07am Oct 13, 2015 11:07am
Quoting otamira
I think its going by upward channel {image}
agree

Just check data for USD and GBP this week...it supports this claim...1.5355, maybe even 1,5550 - 1,5600
  • #420,385
  • Oct 13, 2015 11:41am Oct 13, 2015 11:41am
Hi

Im not trading this currently, but thought I would try the pitchfan for a change on investing.com and thought id share with you all how this works out... I will post more as time moves forward... Back test show very simple and reliable tool. The Idea is that at each level break we should be looking to buy for next level and so on... This is on 15 min chart currently so here is image for your consideration...

The arrows are for the theory of this tool not my actual prediction of the future price, I am simply interested to see how this works out..
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FREEDOM IS SECURITY.
  • #420,386
  • Oct 13, 2015 12:24pm Oct 13, 2015 12:24pm
Hold that thought, I don't think I am using this pitchfan tool correctly.... Anybody familiar with this tool please post a comment, cheers.

brainfart millionaire what day is it?

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FREEDOM IS SECURITY.
  • #420,387
  • Oct 13, 2015 1:12pm Oct 13, 2015 1:12pm
Quoting edyraper
{quote} planning to close whole longs @5260 and trying short up to 5330
pendings starting from 5295
  • #420,388
  • Oct 13, 2015 1:13pm Oct 13, 2015 1:13pm
reference from: http://goldandsilverprice.blogspot.co.uk/




What the heck is a Pitchfan? It's a combination between a pitchfork and a Gann Fan. It also can be used to get an idea about the velocity (or acceleration) of a price move.
FREEDOM IS SECURITY.
  • #420,389
  • Oct 13, 2015 1:14pm Oct 13, 2015 1:14pm
Quoting healer23
{quote} I hope many of you guys saw this earlier post if you did you should be plus 50pips now. i sorry i didnt drop the GJ sell levels you would have had another 50PIPS again any way you take your 50pips wait for a little buying then enter selling again remember we still have another 50PIPS down to collect.but expect some retracement up. GJ seems to have another 100pips fall coming but i need to analysis it well before given you the details. wish you more success.
well done , just been reading back through the posts, always best to then you know or have some idea of the whole picture to a traders posting ???? possible test the doji low on the day , 5144/30. good indication this morning , check all time charts for them that did not,, look at the 15 min, ??? the buy back could be 5300 , 5255 was a break out , that should now be the 1st resistance , well done again great post and look forwards to you next one.Regards E
  • #420,390
  • Oct 13, 2015 1:18pm Oct 13, 2015 1:18pm
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chart above showed tl touch , so is that db, a strong support,, i dont think so?? So short entry 5300 5255 and the break of that bottom
  • #420,391
  • Oct 13, 2015 4:32pm Oct 13, 2015 4:32pm
to me I see it going back to 1.5290 ~ 1.5340 initially. might see more higher high before going down to 1.47 or 1.46
  • #420,392
  • Oct 13, 2015 5:58pm Oct 13, 2015 5:58pm
Quoting FxMegaCB
to me I see it going back to 1.5290 ~ 1.5340 initially. might see more higher high before going down to 1.47 or 1.46
I think it might go to 1.5470 or even 1.5580 before dropping to 1.4850
  • #420,393
  • Edited Oct 14, 2015 1:50am Oct 13, 2015 11:15pm | Edited Oct 14, 2015 1:50am
Quoting elbert3
{quote} well done , just been reading back through the posts, always best to then you know or have some idea of the whole picture to a traders posting ???? possible test the doji low on the day , 5144/30. good indication this morning , check all time charts for them that did not,, look at the 15 min, ??? the buy back could be 5300 , 5255 was a break out , that should now be the 1st resistance , well done again great post and look forwards to you next one.Regards E
Thanks Elbert while holding my GU sell I will now enter GJ sell at 182.90 (You may enter anywhere till 183.30 stop is 183.60 and Take profit is 182.06 because of spread that is my position today. UPDATED if you would be taking trades today i suggest you wait until the U S news for today is out and has because of major news on GBP and USD today i would be pausing all my trades till those news are done. i suggest you wait too after them there should be a clearer direction then you enter trades.
  • #420,394
  • Oct 14, 2015 12:26am Oct 14, 2015 12:26am
GBPUSD formed a big negative outside day reversal after having again failed to move above 1,54. Market have now 1,5400 – 1,5190 the levels to follow in the coming hours. The closing was below the 200 days line putting under pressure the pair but for the moment it found support at a s/t support line.
The indicators of the daily chart managed to remain above the line for now but those of the s/t charts plunged into negative territory going oversold, especially in the hourly chart while showing potential positive reversals. However the possible projections are below the high already made in the last session, unless me take a larger view which is not always the case!!
Anyhow I have long still and while above the 200 hours line at 1,5268 and try staying long putting a stop at 1,5238!!
  • #420,395
  • Oct 14, 2015 2:37am Oct 14, 2015 2:37am
Quoting kayaker
long 1,5301 tp 1,5400
closed at be. other 2 still in the market.
  • #420,396
  • Edited 3:02am Oct 14, 2015 2:38am | Edited 3:02am
Quoting kayaker
added another buy at 1,5236. tp 1,5400
sl now at 1,5277
this one running.
  • #420,397
  • Edited 3:02am Oct 14, 2015 2:39am | Edited 3:02am
Quoting kayaker
{quote} we cannot break 1,5107. then we would go towards 1,50. if we dont break it, then small supports can be seen at 1,5180 , 1,5200 and 1,5240. therefore added another long at 1,5200. tp 1,5350 sl 1,5177
and this one too. sl changed to 1,5277
  • #420,398
  • Oct 14, 2015 2:52am Oct 14, 2015 2:52am
GU is in sell @ CMP 1.5310 TP 1.5280-70
  • #420,399
  • Oct 14, 2015 3:10am Oct 14, 2015 3:10am
Data from the UK will see if again BIG BOYS earlier know as yesterday
  • #420,400
  • Oct 14, 2015 3:16am Oct 14, 2015 3:16am
Rallying of the pair indicating the UK Labor Market Data are +tive?
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