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Cable Update (GBPUSD)

  • #428,301
  • Apr 14, 2016 6:02am Apr 14, 2016 6:02am
I don't see no volume in the move atm most likely it's a fake push.
  • #428,302
  • Apr 14, 2016 6:03am Apr 14, 2016 6:03am
#GBPUSD Target price hit on pound 1.14114 flat now with profits.... on the sideline waiting for what the pound wants to do next
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"W. D. Gann said that time is the most important factor among all things."
  • #428,303
  • Apr 14, 2016 6:05am Apr 14, 2016 6:05am
Quoting Darkforce
{quote} No news is a good news, let's don't underestimate the irony of this market.
true but atm no volume in the move an indication of weakness. I can't recommend trading this also @ current prices.

if you want to enter at least wait for the H1 close, ideally it won't break above 4160-70 area, if we do a close below 4160-70 this hour you can go short with a SL 25 and TP @ 4040.

No news in GU is not good news, we had nice CPI print before and since then we are down 200 points already.
  • #428,304
  • Apr 14, 2016 6:05am Apr 14, 2016 6:05am
are you still bearish?
  • #428,305
  • Apr 14, 2016 6:09am Apr 14, 2016 6:09am
Quoting She1
are you still bearish?
yeah. this candle on H1 got a lot of volume. Unless price breaks above this and closes we are enroute to 4040 - 3960.

even if we do break above 4160-80 if you are short since 4300-4320 wait for TP @ 4040.
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  • #428,306
  • Apr 14, 2016 6:09am Apr 14, 2016 6:09am
i had opened a long at 1.42550. and im regretting it. lol. any idea if it will go back up anytime soon?
  • #428,307
  • Apr 14, 2016 6:10am Apr 14, 2016 6:10am
don't panic sit tight in your trades ))) it's going to 4040.
  • #428,308
  • Apr 14, 2016 6:13am Apr 14, 2016 6:13am
Quoting drunkeyez302
i had opened a long at 1.42550. and im regretting it. lol. any idea if it will go back up anytime soon?
get out always put SL 25 in GU if it's hit means you entered @ a wrong price. Also not a very decent entry, since 4250 is 1/4 of 4000-5000, be very careful with those levels.

you can hold and hope for 4200-4220 re-test but that's not trading it's gambling.

As I posted previously current push higher got almost zero volume - what's that means is that retail are pushing higher, but the institutional traders are already positioned for further downside.
  • #428,309
  • Apr 14, 2016 6:15am Apr 14, 2016 6:15am
see it's already struggling just open up M5 chart and see for yourself. GU won't go above 4180 before 4040-3960 test
  • #428,310
  • Apr 14, 2016 6:18am Apr 14, 2016 6:18am
Quoting asgcorp
see it's already struggling just open up M5 chart and see for yourself. GU won't go above 4180 before 4040-3960 test
damn thats too low. i hope you are wrong. haha
  • #428,311
  • Apr 14, 2016 6:19am Apr 14, 2016 6:19am
Quoting drunkeyez302
{quote} damn thats too low. i hope you are wrong. haha
you can't really cash out hope at your local bank.
  • #428,312
  • Apr 14, 2016 6:20am Apr 14, 2016 6:20am
Quoting asgcorp
see it's already struggling just open up M5 chart and see for yourself. GU won't go above 4180 before 4040-3960 test
dont you think unemployment claims will push it higher? is there a chance?
  • #428,313
  • Apr 14, 2016 6:24am Apr 14, 2016 6:24am
Quoting drunkeyez302
{quote} dont you think unemployment claims will push it higher? is there a chance?
no! ))) check above. GU is doing 4040 soon. Never use a stop loss over 25 points and never trade without a stop loss.

wide stop or no stop will reduce your winning ration long-term.
  • #428,314
  • Apr 14, 2016 6:35am Apr 14, 2016 6:35am
Quoting asgcorp
{quote} 4180 heavy volume was flowing into H1 candle so I don't see GU trading above 4180. rate decision is pretty much a non-event the trend will continue once the data is out.
Don't worry, I'm not buying the Pound, haven't done so for ages. I meant it as a place to short if it gets there (if not already short)
Come with me if you want to live....
  • #428,315
  • Apr 14, 2016 6:55am Apr 14, 2016 6:55am
#GBPUSD pound showing signs of weakness.... I would not go long unless it gets above the POC / And above the 45Deg..... pound is dancing with bears now
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"W. D. Gann said that time is the most important factor among all things."
  • #428,316
  • Apr 14, 2016 7:20am Apr 14, 2016 7:20am
For you ASGCORP: Believe it or not, Most of my trades occur within the first 2-5 hours after the 5pm est close. I have found some very interesting info by studying where the last hourly candle of the day closes. Volume shows itself in very strange places and peculiar times. Ex: yesterday the 12pm candle. Near the bottom of a range, unusual high vol, but price couldn't move very much. The couple of down bars just before it had lots of movement on less volume. Must be absorption, someone is not letting price move higher. As most of my trades occur near the new days open, the market already tipped its hand in the vol, as to which direction this should be going. I shorted on the close of the 1st hourly bar of the new day, and placed my stop just above the vol bar in question. Cashed out at around .4151 because of the wonderful news to come this morning. Waiting to see what forms for the next trade. Vol is subtle, and to use it effectively, you have to spot these things occurring at different places. Have fun!!
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  • #428,317
  • Apr 14, 2016 7:28am Apr 14, 2016 7:28am
hey hey Neal how are you sir? Yeah good deal, also noted this candle but was not completely sure what to make of it.

Still atm we have pretty much same deal here, we got this resistance TL and we had a strong vol candle hit this resistance TL and get rejected.
Therefore my take is that 4180 is capped and price will head straight for the kill @ 4040 now.
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  • #428,318
  • Apr 14, 2016 7:29am Apr 14, 2016 7:29am
EURAUD might be worth a shot been scalping it around current levels
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persistence and determination alone are omnipotent
  • #428,319
  • Apr 14, 2016 7:35am Apr 14, 2016 7:35am
it's a funny moment now, cause the dollar is down but EU is weaker and GU is weak on parity with the dollar, so it's a mixed bag. Interesting moment.
  • #428,320
  • Apr 14, 2016 7:42am Apr 14, 2016 7:42am
Quoting asgcorp
it's a funny moment now, cause the dollar is down but EU is weaker and GU is weak on parity with the dollar, so it's a mixed bag. Interesting moment.
mixxed news isn 't helpfull either
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persistence and determination alone are omnipotent
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