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Cable Update (GBPUSD)

  • #423,861
  • Feb 10, 2016 4:57am Feb 10, 2016 4:57am
Mark my words... A surge to 1.46 could easily be in the cards toward the end of todays European session... This uptrend is starting to gain speed. All we need is a catalyst like Yellen...
"Don't fear a bubble until it starts to burst."
  • #423,862
  • Feb 10, 2016 5:02am Feb 10, 2016 5:02am
Quoting elbert3
{quote} just watch the ext now of that low before or it could be back down there
Toke 17 tick / pips. Time to grocery shopping
I might be wrong , I have been wrong before
  • #423,863
  • Feb 10, 2016 5:05am Feb 10, 2016 5:05am
Quoting amonshi
{quote} you were right, i got floating loss now willing to hold a bit since pound is fundamentally weaker than dollar
Looks like the GBP/USD is holding is ground at the 10-day moving average (1.4464), lot of downward spikes but no close below it. Now the big question is can it close above the 50-day moving average (1.4577)?
  • #423,864
  • Feb 10, 2016 5:21am Feb 10, 2016 5:21am
Target in sight for Pound Dollar Trade.
  • #423,865
  • Feb 10, 2016 5:25am Feb 10, 2016 5:25am
Ok lets talk about your chart ,you have a good one because its logical ,an up trend started ,looked to fail
even yours on that tl is not accurate ,how do you work with this ?
I can logically think that tl is on lots of charts those that believe up trend is starting
the others to me make no logical sense (apart from the short down) therfore unlikely to be something being worked on by other's ,
logic is the key

Quoting Ll1979
{quote} Morning Tony, Love the jokes . The picture below is a good example of an inner trendline. The main reason i use inner trendlines is for spotting reversal and continuations in an early stage. Inner trendlines in combination with S-R, Fibonacci and Fibonacci extentions are very powerfull. The downsite to inner trendlines its subjected to your imagination and sometimes making charts the way you feel they need to be. Outer trendlines normally leave less room for discussion and are well written in books etc inner trendlines arent documented...
Attached Image(s) (click to enlarge)
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #423,866
  • Feb 10, 2016 5:27am Feb 10, 2016 5:27am
I'm not in a position at the moment, so no vested interest in my thoughts --

My H1 chart is showing a steady upward trend with all indicators in agreement. My M10 chart is showing constant bearish divergence, so I'm going to wait until H1 chart is in agreement and then take a small short position. I will assess the target further to Yellen's speech.
  • #423,867
  • Feb 10, 2016 5:34am Feb 10, 2016 5:34am
Entered way too late, kind of a gamble, more than likely going to be stopped any time now, stupid trade.

My last hope is 1.4510 as support :/
  • #423,868
  • Feb 10, 2016 5:44am Feb 10, 2016 5:44am
Quoting Don96
Entered way too late, kind of a gamble, more than likely going to be stopped any time now, stupid trade. My last hope is 1.4510 as support :/
Dayumm that's what I'm talking about
  • #423,869
  • Feb 10, 2016 5:46am Feb 10, 2016 5:46am
Would have longed if i wasn't already in a loser, but oh well working on hindsight we would all be milionaires
  • #423,870
  • Feb 10, 2016 5:52am Feb 10, 2016 5:52am
its not necessary imo that this breaks this week ,to show more up ,the upper wick could be the problem for the week and even a red next as consolidation especially with low news is acceptable to maintain a view on the candle's presented,



Quoting Bones
what we have is a bullish weekly with upper wick ,confirmation 2 x doji until that fails thats how I would view upper wick could be the problem ,I can show recent example I remember eu , {image} {image} {image}
Attached Image (click to enlarge)
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #423,871
  • Feb 10, 2016 5:55am Feb 10, 2016 5:55am
Quoting Bones
Ok lets talk about your chart ,you have a good one because its logical ,an up trend started ,looked to fail even yours on that tl is not accurate ,how do you work with this ? I can logically think that tl is on lots of charts those that believe up trend is starting the others to me make no logical sense (apart from the short down) therfore unlikely to be something being worked on by other's , logic is the key {quote} {image} {image}

The upper trendline is poorly drawn and the logic (beside short) is not seen rightaway often they act as resistance in the futher.

comepare the old chart with this one see if i had drawn the tl correct what could have happened also for the tl on the right.
Attached Image (click to enlarge)
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persistence and determination alone are omnipotent
  • #423,872
  • Feb 10, 2016 6:02am Feb 10, 2016 6:02am
I agree to both tls you ring ,heres the problem with so many other duds ,a few good your likely to think your doing good ,false sense off security
but then to me your missing the chance to see the big picture ,
lets face it your only drawing secondary inner tls at best

Quoting Ll1979
{quote} The upper trendline is poorly drawn and the logic (beside short) is not seen rightaway often they act as resistance in the futher. comepare the old chart with this one see if i had drawn the tl correct what could have happened also for the tl on the right. {image}
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #423,873
  • Feb 10, 2016 6:03am Feb 10, 2016 6:03am
Just sold a long here at 38...

I'm still bullish, but that was a little bit too much euphoria there...
"Don't fear a bubble until it starts to burst."
  • #423,874
  • Feb 10, 2016 6:04am Feb 10, 2016 6:04am
Quoting meanvel
Just sold a long here at 38... I'm still bullish, but that was a little bit too much euphoria there...
Hmm I'm holding out for 1.4544
TBH my initial target is 1.4548 which seems a little stupid i know but we will see
  • #423,875
  • Feb 10, 2016 6:09am Feb 10, 2016 6:09am
even this one ,yea you could think I have the angle of main trend ,lining up with another ,and pivot
to me that tl has got to be short lived ,lets see if we went back
but still your lines totally general ,general area ,and they don't have to be
could be drawn with care ,to be more accurate
Attached Image (click to enlarge)
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #423,876
  • Feb 10, 2016 6:09am Feb 10, 2016 6:09am
When the market starts going straight up, I start being cautious... The hourly chart is starting to look like a rocket ship.

Like warren buffet says... "Be cautious when others are greedy, and be greedy when others are cautious."
"Don't fear a bubble until it starts to burst."
  • #423,877
  • Feb 10, 2016 6:13am Feb 10, 2016 6:13am
duble zigzag
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  • #423,878
  • Feb 10, 2016 6:14am Feb 10, 2016 6:14am
TP hit, out for now, didn't like that one bit, drawdown was 20 pips or so for tp of 15, anyway I'm out, that trade distorted other entries i should have taken
  • #423,879
  • Feb 10, 2016 6:17am Feb 10, 2016 6:17am
Quoting meanvel
When the market starts going straight up, I start being cautious... The hourly chart is starting to look like a rocket ship. Like warren buffet says... "Be cautious when others are greedy, and be greedy when others are cautious."
Great Quotation there Michael, personally i would be like so cautious with people whose names are linked to 36 domain www sites with certain subject matters u know what i mean here Michael - indeed mark those words ok.

Next stop Yellen.


No need to reply i dont read them anyways.
  • #423,880
  • Feb 10, 2016 6:18am Feb 10, 2016 6:18am
I totally believe this ,in all probability, it can only retrace that down ,but now challenging a up tl
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On-site guru & also FF member's' psychiatrist, when not drinking tea
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