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  • #1,053,161
  • Jan 29, 2016 4:28am Jan 29, 2016 4:28am
seems GBP will drop to the 4260 area once more and then it will rally to these two obvious resistance levels

this is a very strong opportunity, doesnt come by too often.

GBP, CAD and oil are highly correlated, take your pick in February...

long CAD, GBP or oil... they will all be strong.
Attached Image
Be hopeful in a winning position, and fearful in a losing position.
  • #1,053,162
  • Jan 29, 2016 4:29am Jan 29, 2016 4:29am
Quoting Rag2RichesFX
seems GBP will drop to the 4260 area once more and then it will rally to these two obvious resistance levels this is a very strong opportunity, doesnt come by too often. GBP, CAD and oil are highly correlated, take your pick in February... long CAD, GBP or oil... they will all be strong. {image}
I'll take GBP for sure,
looking for a neckline to enter long...
  • #1,053,163
  • Jan 29, 2016 4:32am Jan 29, 2016 4:32am
Pending LONG Triggered S/O
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A good trader follows his rules, but great trader knows when to break them
  • #1,053,164
  • Jan 29, 2016 4:35am Jan 29, 2016 4:35am
Quoting krishelis
{quote} I am just smiling
i will survive
  • #1,053,165
  • Jan 29, 2016 4:44am Jan 29, 2016 4:44am
Quoting ill_be_back
Pending LONG Triggered S/O {image}
4220 missed last time.
those who can, do. those who cant, talk about those who can
  • #1,053,166
  • Jan 29, 2016 4:46am Jan 29, 2016 4:46am
cable is el stinko...thats my analysis..
Look Sharp/Trade Tight
  • #1,053,167
  • Jan 29, 2016 4:49am Jan 29, 2016 4:49am
Quoting KiwiTrada
{quote} wedge utl holding so far, did get pierced by wick but body is below 4hr possible leg back down, internal falling tl could prove handy for bulls on retest from above, was thinking normal dynamics should have sent her north (counter wedge), if she makes the ltl, would expect her to blast through,

cable 4hr wedge still proving very profitable, cruising back to ltl shortly, still hold with possibility of blasting through, poor old gbp if she does
If you are new to Forex? Say Goodbye to your account!!
  • #1,053,168
  • Jan 29, 2016 4:50am Jan 29, 2016 4:50am
Quoting gatorinla
{quote} 4220 missed last time.
Next one around 4220
A good trader follows his rules, but great trader knows when to break them
  • #1,053,169
  • Jan 29, 2016 4:57am Jan 29, 2016 4:57am
reversal @ 1H

2nd chart - 5 min

1-2-3 reversal
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  • #1,053,170
  • Jan 29, 2016 5:01am Jan 29, 2016 5:01am
1min after.

1H closes,
1min bull trap.

adding more shorts

1st chart - 1min
2nd chart - 1H
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  • #1,053,171
  • Jan 29, 2016 5:03am Jan 29, 2016 5:03am
maybe some weakness in UJ under 120.62 next time around...well I'm watching it anyway..
Look Sharp/Trade Tight
  • #1,053,172
  • Jan 29, 2016 5:05am Jan 29, 2016 5:05am
Quoting ill_be_back
{quote} Next one around 4220
it's still the 46xx norm. it came close at 4229, close but no cigar. 4220 before 4646 or more
those who can, do. those who cant, talk about those who can
  • #1,053,173
  • Jan 29, 2016 5:15am Jan 29, 2016 5:15am
Quoting openyoureyes
{quote} I'll take GBP for sure, looking for a neckline to enter long...
GBP is my preferred too.

I prefer to buy weakness not strength, but to each their own,
closed 80% of position @4355 because I saw the drop coming


Nailed the low... honestly don't want to get too cute with this since like gator said 46xx can easily be done. 80% sure 4080 will hold as the major low, will use a 200 pip stop for half the position, tight stop for the other half
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Be hopeful in a winning position, and fearful in a losing position.
  • #1,053,174
  • Jan 29, 2016 5:18am Jan 29, 2016 5:18am
Quoting gatorinla
{quote} it's still the 46xx norm. it came close at 4229, close but no cigar. 4220 before 4646 or more
does lower than 4220 cancel or change target for you?
i have .4164 on my chart for possible long max to .4144
Time is your friend; impulse is your enemy.
  • #1,053,175
  • Jan 29, 2016 5:18am Jan 29, 2016 5:18am
Quoting PayTheLimit
maybe some weakness in UJ under 120.62 next time around...well I'm watching it anyway..
bulls showed up in a hurry to protect it...bastards...
Look Sharp/Trade Tight
  • #1,053,176
  • Jan 29, 2016 5:24am Jan 29, 2016 5:24am
Quoting gatorinla
{quote} it's still the 46xx norm. it came close at 4229, close but no cigar. 4220 before 4646 or more
I agree it could drop a little further first

Keyword is COULD, but I'm not gonna miss a high probability long because of 60 pips (which may not come)
Be hopeful in a winning position, and fearful in a losing position.
  • #1,053,177
  • Jan 29, 2016 5:26am Jan 29, 2016 5:26am
Quoting Rag2RichesFX
{quote} GBP is my preferred too. I prefer to buy weakness not strength, but to each their own, closed 80% of position @4355 because I saw the drop coming Nailed the low... honestly don't want to get too cute with this since like gator said 46xx can easily be done. 80% sure 4080 will hold as the major low, will use a 200 pip stop for half the position, tight stop for the other half {image}
Do you use technicals to trade?
Because technicals only tell that GBP is gonna show weakness and give a good return in medium to long term. I believe the fundamentals are not in favor of British Pound.

But lets see show it performs!!
  • #1,053,178
  • Jan 29, 2016 5:30am Jan 29, 2016 5:30am
Quoting Rag2RichesFX
{quote} I agree it could drop a little further first Keyword is COULD, but I'm not gonna miss a high probability long because of 60 pips (which may not come) and actually we we did hit 4229 {image}
I can't afford 60 pips,
that's why I trade necklines...
  • #1,053,179
  • Jan 29, 2016 5:34am Jan 29, 2016 5:34am
cable is wicky on the weekly anyway...with a few hours to go..
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Look Sharp/Trade Tight
  • #1,053,180
  • Jan 29, 2016 5:38am Jan 29, 2016 5:38am
Quoting ktoTam
{quote} does lower than 4220 cancel or change target for you? i have .4164 on my chart for possible long max to .4144
no, that window 4220 till 4077.. actually it would probably 47xx or 48xx. but target atm is what was stated. 47xx 48xx, is just normal pa. from that break in the low.. the target came later.
those who can, do. those who cant, talk about those who can
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