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Cable Update (GBPUSD)

  • #428,621
  • Apr 16, 2016 4:15pm Apr 16, 2016 4:15pm
Quoting Ill-b-back
GU continues to break down EG lift off stage 2 on its' way {image} {image} {image} {image} {image}
EG charts in this post.
Come with me if you want to live....
  • #428,622
  • Apr 16, 2016 4:17pm Apr 16, 2016 4:17pm
well isn't the point that correlation change all the time ,but it is possible for extended periods only last year ,dose not EG uptrend skew things


Quoting asgcorp
thanks for a quick recap in history. I'm not trading history but trading today. EG is correlated go GU @ -90% atm on daily. {image}
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #428,623
  • Apr 16, 2016 4:17pm Apr 16, 2016 4:17pm
last time we had similar price structure in NZD USD is sold off 1000+ points. Just saying. they don't look pretty. not the same but similar.
Attached Image (click to enlarge)
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  • #428,624
  • Apr 16, 2016 4:21pm Apr 16, 2016 4:21pm
Quoting asgcorp
last time we had similar price structure in NZD USD is sold off 1000+ points. Just saying. they don't look pretty. not the same but similar. {image}
the EG monthly consolidation off the blue TL produced some major supply of jet fuel upon lift off. I don't think it has run out yet
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  • #428,625
  • Apr 16, 2016 4:30pm Apr 16, 2016 4:30pm
Interesting discussion. Let's see what we get. My take is GU will reach 4520 before the next leg down to test 3960. EG I can't tell really, but I have 5% probability that we will trade 8150, pretty much we are maxed out on EG. This quarter we will see EUG GBP @ 7200, I don't have a specific target for April, but it won't go beyond 8150.

EG is maxed out for 2 reasons. EU down and GU up.
  • #428,626
  • Apr 16, 2016 4:40pm Apr 16, 2016 4:40pm
each to their own I guess.

I just don't see it
Attached Image(s) (click to enlarge)
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Come with me if you want to live....
  • #428,627
  • Apr 16, 2016 4:46pm Apr 16, 2016 4:46pm
Quoting Ill-b-back
each to their own I guess. I just don't see it {image} {image} {image} {image}
that's right bro. Some see GU @ setting up in a triangle in a downtrend. And some see this as inverted H&S setup @ tripple bottom.
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  • #428,628
  • Apr 16, 2016 4:52pm Apr 16, 2016 4:52pm
Quoting micho
can u see it? {image}
i see consolidation
Attached Image(s) (click to enlarge)
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  • #428,629
  • Apr 16, 2016 4:53pm Apr 16, 2016 4:53pm
Quoting asgcorp
{quote} that's right bro. Some see GU @ setting up in a triangle in a downtrend. And some see this as inverted H&S setup @ tripple bottom. {image} {image}
Come with me if you want to live....
  • #428,630
  • Apr 16, 2016 5:10pm Apr 16, 2016 5:10pm
Quoting micho
{quote} i would like to think that: you have drawn an irrelevant trend, there are an infinity of trends and only 2 are relevant on each time frame chart. one is bull the other is bear.
lol, I know bulls and bears. what is an irrelevant trend? No idea what you are talking about. We bounced off blue monthly TL during the earlier consolidation phase before the monthly candles Starting bursting north (shown on my earlier quoted post)
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  • #428,631
  • Apr 16, 2016 5:14pm Apr 16, 2016 5:14pm
Attached Image (click to enlarge)
Click to Enlarge Name: EURGBPMonthly.png Size: 32 KB
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  • #428,632
  • Edited 5:53pm Apr 16, 2016 5:16pm | Edited 5:53pm
Quoting asgcorp
{quote} hey how are you bro you are bringing up a good point. The internal triangle will definately breakout and we can expect a test of the TL on the chart, it sounds somewhat unreal to test area near 4600, but that's what price action did in the past this trendline was tested 4 times already so I don't see a reason why we can't test it one more time. But the bears are right overall, the sentiment in GBP USD is bearish I'm not even arguing that for a minute. Having said that GU testing 4600 does not void bear scenario, and in fact the higher GU...
Hi m8

I'm fine how are you?
Still thinking what the plan is for next week. Breakout is one possibility.
I'm currently in a short trade with T/P at the trendline. Trading the range of the triangle again sounds a bit risky to me.
Time will tell!

Still learning alot about this market and forex trading in general.
Just ordered me a few new books on amazon, there are still a lot of things I need to figure out.
Btw this thread is very useful and educational to me. A lot of good guys here, keep up the good work
What's that smell? ---- I smell money!
  • #428,633
  • Apr 16, 2016 5:39pm Apr 16, 2016 5:39pm
Quoting micho
right so you see the trend line but you dont see the things that created it, look at fractals and fibonnacci
you need to stop talking shit. It bounced off the 88.6 fib as clearly shown on my fib chart.I don't see fibs??? I don't see fractals??? They are the 2 main tools I use for trading. You clearly know nothing about me. Start quoting my posts again when you feel like making sense instead of blabbering ill conceived nonsense.
Come with me if you want to live....
  • #428,634
  • Apr 16, 2016 8:37pm Apr 16, 2016 8:37pm
continuation down trend but choppy, will be looking for more selling opportunities at higher resistance points.
  • #428,635
  • Apr 16, 2016 11:52pm Apr 16, 2016 11:52pm
Maybe the bullish "Godfather' was right


A moment of market truth soon arriving I guess...
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  • #428,636
  • Apr 17, 2016 12:18am Apr 17, 2016 12:18am
GBP USD is on Downtrend for long time.
Any body thing that is downtrend is over and trend is changing ?
  • #428,637
  • Apr 17, 2016 3:43am Apr 17, 2016 3:43am
Bought it on Friday. Let Monday be a good day. Bought of H4 Demand zone. Market ranging.
m5- entry pattern.
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  • #428,638
  • Apr 17, 2016 4:09am Apr 17, 2016 4:09am
aside from GU there are better opportunities in the market atm, for instance NZD USD short at/near 7000 area with the bearish price structure.
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  • #428,639
  • Apr 17, 2016 4:10am Apr 17, 2016 4:10am
also AUD USD about to trigger fresh supply zone nice option to get in short and a lot of data releases this week also.
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  • #428,640
  • Apr 17, 2016 4:11am Apr 17, 2016 4:11am
and same bearish price structure setup seen on AUD USD H4.
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