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Cable Update (GBPUSD)

  • #424,601
  • Feb 19, 2016 6:40am Feb 19, 2016 6:40am
Quoting nick.m
{quote} I don't want to be the bearer of bad news, but overconfidence in this game is a challenge to be overcome in itself.
I don't have an overconfidence problem in the markets. If I had more confidence, I would profit maximize a lot better and hold to target instead of taking profits before the end of moves.
"Don't fear a bubble until it starts to burst."
  • #424,602
  • Feb 19, 2016 6:42am Feb 19, 2016 6:42am
Quoting meanvel
{quote} I dunno, when your addicted to being smart and being right... It's not easy to control.
You know M - i wish you good luck but just have this feeling its something that you cant change - you seem way too far down that path already ..
So back to trading it is

142 is looking to appear realistic and on the cards -

Traded to my target for the day at 142 700.

So easy to say when no trade but looking to place a buy for Monday for sure ..
  • #424,603
  • Feb 19, 2016 6:51am Feb 19, 2016 6:51am
I just asked the mods if they can ban my account from posting in the interactive trading section.

Now... Before I go, this pattern in the GU looks like it will flip upward toward 1.48 in three to five weeks. The next couple weeks and into early next month look ugly, but the next weekly rally will be setup to run IMO.
"Don't fear a bubble until it starts to burst."
  • #424,604
  • Feb 19, 2016 6:54am Feb 19, 2016 6:54am
Quoting meanvel
{quote} Not kidding, I may actually ask a moderator to ban me from posting in this thread.
What?? Don't do this! If you have something to share then please share. If someone is annoyed then he can put you on ignore list and won't see your posts. I personally find interesting what you write here.
  • #424,605
  • Feb 19, 2016 6:54am Feb 19, 2016 6:54am
Quoting meanvel
I just asked the mods if they can ban my account from posting in the interactive trading section. Now... Before I go, this pattern in the GU looks like it will flip upward toward 1.48 in three to five weeks.
Don't go M, this thread wont be the same without u. Keep posting something random, it takes my mind off trading.
  • #424,606
  • Feb 19, 2016 6:58am Feb 19, 2016 6:58am
heavy gbp/sek selling. something is definitely cooking.
  • #424,607
  • Feb 19, 2016 6:58am Feb 19, 2016 6:58am
Quoting dean1star
{quote} You know M - i wish you good luck but just have this feeling its something that you cant change - you seem way too far down that path already .. So back to trading it is 142 is looking to appear realistic and on the cards - Traded to my target for the day at 142 700. So easy to say when no trade but looking to place a buy for Monday for sure ..
​I have a target at 1.419, hope it gets there.
  • #424,608
  • Feb 19, 2016 7:00am Feb 19, 2016 7:00am
#GBPUSD is weak below the 2x1, but we cant rule out that it could turn to the upside next week..... so for now we sit and wait for Pound to reveal where it wants to go.....Next week we should have a better picture...... Sunday night action will set the tone for next week
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd 2-19-16.png Size: 44 KB
"W. D. Gann said that time is the most important factor among all things."
  • #424,609
  • Edited 7:19am Feb 19, 2016 7:08am | Edited 7:19am
So close... Market just got within five pips of entering the first critical sell stop pocket. Looks like it got defended... Either that or bears chickened out and took profits just before it. Well see what happens on CPI though. When liquidity is low the market can be spiked hard through both order pockets in a millisecond...

Attached Image (click to enlarge)
Click to Enlarge Name: orderPockets.png Size: 12 KB
"Don't fear a bubble until it starts to burst."
  • #424,610
  • Feb 19, 2016 7:10am Feb 19, 2016 7:10am
#GBPUSD Keep in mind that Big money Commercial & large Spec are slowly unwinding....... next week should show a sign
Attached Image
"W. D. Gann said that time is the most important factor among all things."
  • #424,611
  • Feb 19, 2016 7:22am Feb 19, 2016 7:22am
Quoting USDollar
#GBPUSD is weak below the 2x1, but we cant rule out that it could turn to the upside next week..... so for now we sit and wait for Pound to reveal where it wants to go.....Next week we should have a better picture...... Sunday night action will set the tone for next week {image}
Why what's happening on Sunday night ?
  • #424,612
  • Feb 19, 2016 7:24am Feb 19, 2016 7:24am
Quoting Squiggles
{quote} Why what's happening on Sunday night ?
Sunday night price action will set the tone for next week
"W. D. Gann said that time is the most important factor among all things."
  • #424,613
  • Feb 19, 2016 7:34am Feb 19, 2016 7:34am
#GBPUSD the Big Picture says it all, for now not looking to good....
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD Big Picture 2-19-16.png Size: 233 KB
"W. D. Gann said that time is the most important factor among all things."
  • #424,614
  • Feb 19, 2016 7:38am Feb 19, 2016 7:38am
Quoting USDollar
{quote} Sunday night price action will set the tone for next week
Why what's happening on Sunday night ?
Why will Sunday night PA set the tone for the whole week ?
  • #424,615
  • Feb 19, 2016 7:42am Feb 19, 2016 7:42am
still some cleaning up to be done.
  • #424,616
  • Feb 19, 2016 7:54am Feb 19, 2016 7:54am
next h4 ,free fall ?
this star as in evening star ,

Quoting Bones
usd is up but I don't think it wants to be {quote} {image}
Attached Image (click to enlarge)
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #424,617
  • Feb 19, 2016 7:57am Feb 19, 2016 7:57am
well you have changed your chart since then ,

Quoting andoseg2
{quote} ? {image}
Attached Image (click to enlarge)
Click to Enlarge Name: zae.png Size: 33 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #424,618
  • Feb 19, 2016 7:58am Feb 19, 2016 7:58am
Remind me to never look at the data... Just the reaction. Should have immediately bought as soon as that order pocket was clear, not later... The good CPI data caused me to hesitate. Oh well at least I got in at 58 for the move above 75...

Notice how price wasn't chopping around very much... If there was going to be a real reaction, the market would have moved hard and fast the instant of the release... And kept chopping hard as big orders hit.
"Don't fear a bubble until it starts to burst."
  • #424,619
  • Feb 19, 2016 8:21am Feb 19, 2016 8:21am
Next short at the current price but after breaking this support and a pull back
Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 49 KB
HumbleTraders
  • #424,620
  • Feb 19, 2016 8:22am Feb 19, 2016 8:22am
I'm going to sleep, there is a shot at making it back to 1.43 once price pressure recovers in a few hours... Around EU close.

With hourly price pressure this negative, I doubt the move up will be for three to four trading hours. I would suggest everyone just go to sleep and wait for Monday. Risk/reward isn't great here.

Attached Image (click to enlarge)
Click to Enlarge Name: negPP.png Size: 15 KB
"Don't fear a bubble until it starts to burst."
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