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Cable Update (GBPUSD)

  • #424,681
  • Edited 8:46am Feb 20, 2016 8:03am | Edited 8:46am
=true
=limited up
now I'm well over 12000 posts ill be taking a posting break for a few weeks
spent way too long in the lions den recently,for my own health

Quoting meanvel
I know I expected a regression back to around 1.43 of that downward bubble toward close, but Jesus... Looks like the entire downward move we had was just a complete bubble of negative speculation about the EU meetings. Get whatever dips you can next week and trade long like it's a repeat of the late January pattern... {image}
Attached Image(s) (click to enlarge)
Click to Enlarge Name: USD (DFB).png Size: 36 KB
Click to Enlarge Name: USD 2 (DFB).png Size: 39 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #424,682
  • Feb 20, 2016 9:27am Feb 20, 2016 9:27am
Quoting Bones
=true =limited up now I'm well over 12000 posts ill be taking a posting break for a few weeks spent way too long in the lions den recently,for my own health {quote} {image} {image}
are you leaving this forum?? why?? bcoz of some morons. put them on your ignore list. He is already on my list.
  • #424,683
  • Feb 20, 2016 9:29am Feb 20, 2016 9:29am
Quoting koohyar
I am bearish on the Cable for the coming weeks... {image}
why did you sell 1.44. it is going to take a ride up to 1.47 now min
  • #424,684
  • Feb 20, 2016 9:38am Feb 20, 2016 9:38am
target for monday session
Attached Image
  • #424,685
  • Feb 20, 2016 9:44am Feb 20, 2016 9:44am
no bit stressful in this room ,I enjoy posting ,I'm not going anywhere ,more ill try my own thread rather than filling this one maybe ,

Quoting giveachance
{quote} are you leaving this forum?? why?? bcoz of some morons. put them on your ignore list. He is already on my list.
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #424,686
  • Feb 20, 2016 10:20am Feb 20, 2016 10:20am
Quoting Davit
{quote} have 9 longs on this tP 45.50-46 may take a week regards
Still open
In trading, you have to be defensive and aggressive at the same time
  • #424,687
  • Feb 20, 2016 11:11am Feb 20, 2016 11:11am
Quoting Davit
{quote} Still open
Nerves of steel

What's your average entry level?

Good luck with your trades.
  • #424,688
  • Feb 20, 2016 12:38pm Feb 20, 2016 12:38pm
If this pattern flips up here, there is no stopping at 1.46... It's going to target 1.49 just for starters. I may be changing my conviction from mildly bullish to extremely bullish.

I am starting to think that the only reason we didn't get a second rally early to mid February may have been short speculation before this Fridays announcement.

Attached Image (click to enlarge)
Click to Enlarge Name: possibleTarget.png Size: 17 KB
"Don't fear a bubble until it starts to burst."
  • #424,689
  • Feb 20, 2016 1:17pm Feb 20, 2016 1:17pm
There is only one drawing tool I sometimes use... Mostly just in the /ES futures. A retracement tool set to evens and halves. This low we just set was exactly 150% of that prior minor early February swing, and the prior high was 200% of the prior swing. When a market breaks up or down strongly out of a swing, the 150% area is the first area to watch.

Attached Image (click to enlarge)
Click to Enlarge Name: oneFiftyOrTwoHundred.png Size: 28 KB


I don't use the tool much, usually because there are critical swing lows and order pockets which are more important to watch... Plus, drawing is a hassle.

However, it does give you a very "Objective" idea of how high or low price is based upon the last swing. The only tool I recommend... Retracements set to even numbers and halves.
"Don't fear a bubble until it starts to burst."
  • #424,690
  • Feb 20, 2016 1:20pm Feb 20, 2016 1:20pm
1.45 this week imo
  • #424,691
  • Feb 20, 2016 1:42pm Feb 20, 2016 1:42pm
Quoting arigoldman
1.45 this week imo
Yep, that is realistic, I will call 1.4550, with a potential late week shot at 1.4750. We won't fully know how big of a deal this Friday news was until like Tuesday.

The price action late Friday kinda looked like one or a few big players were desperately trying to hold the market down by slamming it with shorts late session because they are stuck short after that news... Big currency funds and institutional players cannot start to move position until Asian session Sunday without moving the market. If the market is moving up strongly in Asian session... It's a sign of desperation in big players stuck short after that news.
"Don't fear a bubble until it starts to burst."
  • #424,692
  • Feb 20, 2016 1:55pm Feb 20, 2016 1:55pm
Quoting dean1star
{quote} Nice chart - be interesting too see the play next week.
Thx Dean, I actually think we are going to be going up and down around in a messy daily range here for quite a while, if it goes down it won't be in one leap I don't think
Come with me if you want to live....
  • #424,693
  • Feb 20, 2016 2:00pm Feb 20, 2016 2:00pm
Quoting Ill-b-back
TL retest ever so close now after the DOW has turned south at the end of the 5th multi-year wave. I think safe haven $ bull drivers will kick in soon after the retest maybe as early as next week {image} {image}
In line with this, seeing some commonality with some other xxxUSD pairs
USDCAD which has been very volatile last few months looking to find support just below
On the monthly, Aussie and Kiwi retesting breakout very soon before an expected drop
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: USDCADWeekly.png Size: 32 KB
Click to Enlarge Name: AUDUSDMonthly.png Size: 28 KB
Click to Enlarge Name: NZDUSDMonthly.png Size: 29 KB
Click to Enlarge Name: NZDUSDMonthly1.png Size: 32 KB
Come with me if you want to live....
  • #424,694
  • Edited 2:16pm Feb 20, 2016 2:00pm | Edited 2:16pm
Quoting meanvel
{quote} Yep, that is realistic, I will call 1.4550, with a potential late week shot at 1.4750. We won't fully know how big of a deal this Friday news was until like Tuesday. The price action late Friday kinda looked like one or a few big players were desperately trying to hold the market down by slamming it with shorts late session because they are stuck short after that news... Big currency funds and institutional players cannot start to move position until Asian session Sunday without moving the market. If the market is moving up strongly in Asian...
So from 144 we are going to 147 500 wow that's awesome advice buddy.

Thank you again.

Wall st is planning a forward move to max a 3 and a half cent play next week and yet again Michael knows this in advance?
Cool way to go .. btw Mikey whats the re-test zone just so that we all know in advance
  • #424,695
  • Feb 20, 2016 2:18pm Feb 20, 2016 2:18pm
Quoting Ill-b-back
{quote} Thx Dean, I actually think we are going to be going up and down around in a messy daily range here for quite a while, if it goes down it won't be in one leap I don't think
Agreed - planning to position trades for the week and catch some of those turns.
  • #424,696
  • Feb 20, 2016 3:21pm Feb 20, 2016 3:21pm
Quoting dean1star
{quote} Agreed - planning to position trades for the week and catch some of those turns.
Got this image off the web: USD index is approaching the retest (if not already there) of a clear weekly breakout with the breakout line running form the highs of March to the highs of Sept/Oct.
Looking at the weekly chart, it looks like it broke out of the compression in Oct/Nov and in the process of retesting the breakout line now.
Wish I could just show with the line of the chart (pic worth 1000 words etc) but don't have index charts.

I think it's easy to see and understand though
Attached Image (click to enlarge)
Click to Enlarge Name: dollarWEEK2.jpg Size: 48 KB
Come with me if you want to live....
  • #424,697
  • Feb 20, 2016 3:33pm Feb 20, 2016 3:33pm
Quoting Bones
no bit stressful in this room ,I enjoy posting ,I'm not going anywhere ,more ill try my own thread rather than filling this one maybe , {quote}
Hey a bones just loged on and seen this.? I think alot about people and even thou we dont post to each other a lot i have a concern abot this post ? Pm me please B
  • #424,698
  • Feb 20, 2016 3:36pm Feb 20, 2016 3:36pm
Quoting dean1star
{quote} http://assets.forexfactory.net/nfs/c...ar175214_4.gif dean1star Time to be moving on Billy, was great trading with you, its nice to meet another trader who not only trades but puts up his trades as they occur - people seem to think this way of trading is easy, i can assure you its the hardest form of trading there is and you also mastered it for sure - been a pleasure Billy might see u Dec 2016 back here maybe - maybe not lol ..
Hey guys whats going on? I love this thread .and sorry i have not been on all week why are you leaving ? Just reading thevpast posts now see whats going on
  • #424,699
  • Feb 20, 2016 3:40pm Feb 20, 2016 3:40pm
Quoting giveachance
{quote} are you leaving this forum?? why?? bcoz of some morons. put them on your ignore list. He is already on my list.
GC who are you on about pm me please B
  • #424,700
  • Edited 4:18pm Feb 20, 2016 4:04pm | Edited 4:18pm
When major news shifts the market, like a announcement from Cameron about a deal with the UK... It can be a seriously market moving event which changes the entire scenario. You have to be aware that some news can really catalyze the market, but we won't fully know just how much this news matters until the middle of next week when big speculators have rotated their positions.

By the late Friday price action... It looks like a bunch of big players are screwed and desperately trying to hold the market down until they can get liquidity to escape their shorts during Sundays Asian session and into European session. None of the big currency hedge funds or institutional players can cover on late Friday without moving the market a hundred pips+.

None of the big players who can keep it together without puking or going tapioca will shift position until Asian and EU liquidity comes online.


Quoting dean1star
{quote} So from 144 we are going to 147 500 wow that's awesome advice buddy. Thank you again. Wall st is planning a forward move to max a 3 and a half cent play next week and yet again Michael knows this in advance? Cool way to go .. btw Mikey whats the re-test zone just so that we all know in advance
"Don't fear a bubble until it starts to burst."
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