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Cable Update (GBPUSD)

  • #431,141
  • May 20, 2016 5:37pm May 20, 2016 5:37pm
Quoting KeenPips
{quote} Except for today being a Friday, news would only have temporary impact against the major market direction except it is in line with it. Any news that turns pa against the major market direction during other days of the week will not have lasting effect. In a matter of 1 hour the market will turn to its previous direction. KP
I agree- however it does depend on the news.

For instance Boris Johnson caused cable to slide for about two weeks- when he said that he was supporting Brexit. I think Cable had the largest one day fall in about 4 years- when that came out.

But if market sentiment is bullish and some figures or news comes out that are negative that are not that important - I agree there will be a dip - but the market will carry on up.

Getting back to today, we have 4 days of rallying on cable. Yesterday's candle appeared weak - with high volume. I think its called stopping volume or something.

Then we had negative news on the pound and positive news on the dollar (there was an article saying that the BOE will cut rates irrespective of what happens with Brexit and a Fed chairman talking about raising rates). This news caused cable to come off during the Asian session.

So it was likely that traders would jump on this when London opened.
  • #431,142
  • May 20, 2016 6:20pm May 20, 2016 6:20pm
I have a feeling the FF news reels are going to be sooo flooded with Brexit poll fears, it will make the 2013 Taper Tantrum look like a cordial conversation between 2 British upper class at the gentlemens' Club.

And just like the Taper Tantrum, I for one, won't be buying a syllable of it...

unless of course we are already at 1.5 by then

watching 4220 area for bullish PA
Come with me if you want to live....
  • #431,143
  • May 21, 2016 2:28am May 21, 2016 2:28am
Service to Humanity. Abdul Sattar Edhi
https://www.change.org/p/nobel-peace...edium=copylink
  • #431,144
  • May 21, 2016 2:46am May 21, 2016 2:46am
look beyond the pin bar,
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #431,145
  • Edited 4:52am May 21, 2016 2:53am | Edited 4:52am
real life the next candle was down,and went lower than the bullish open/bullish candle


Quoting Bones
look I can show you evening star before ,shooting star wick location ,wick length = aggression ,even if up next its going to fail before lower than now before higher than the high,in all probability ,this range will hold for now were talking real life candle trading where things are not perfect as books this shooting star dosent have such a lower wick ,confirmation not such lower wick shooting star wick much bigger ,location = great {image}
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #431,146
  • Edited 5:07am May 21, 2016 2:58am | Edited 5:07am
beware polls are moving the ,gaps filled ,
is open to wild moves,un named/planned calendar events,
only one of the 2 month set ups are closed
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #431,147
  • Edited 5:15am May 21, 2016 3:54am | Edited 5:15am
trend traders should resist trading against d1 ,thats evening star ,its not ready,
actually its not trending up as of this post,more likely to go lower than higher than cross at this point

Quoting Bones
in fact don't suppose it by chance just bounced off top of gap ,but $ could hold things up currently in a uptrend itself {image}
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #431,148
  • May 21, 2016 4:10am May 21, 2016 4:10am
uptrend ,now sits directly on that monthly high ,

Quoting Bones
$ has formed a tight uptrend ,off bottom of range but is now close to last month high ,actual number 9524 on my usdx,this d1 breaks last w1 just {quote} {image}
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #431,149
  • May 21, 2016 9:57am May 21, 2016 9:57am
Cable stay in bullish at moment.
  • #431,150
  • May 21, 2016 10:09am May 21, 2016 10:09am
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  • #431,151
  • May 21, 2016 12:42pm May 21, 2016 12:42pm
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watching this area, possible gap down to 61% then up , fail then 4273 area could be back in play, so we watch for the signs,
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gbj story we seen it bounce
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we traded to the line
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now will it bounce here confirming the tl break worth a sl trade , i have one placed for sunday night 2nd support 158.32 ema pattern is the same as gb on the weekly and 162.700 has been tested before so will it be 3rd time lucky ,drag gu with it ,
  • #431,152
  • May 21, 2016 12:44pm May 21, 2016 12:44pm
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month posted last week
  • #431,153
  • May 21, 2016 12:47pm May 21, 2016 12:47pm
Quoting elbert3
{image} month posted last week
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so posted last week that 2nd support line was also a 61% retrace which was traded right to the resistance area 4620 , so who will give in ,, that me off to a party , hope you all are toooooo hic,, regards B
  • #431,154
  • May 22, 2016 7:39am May 22, 2016 7:39am
Hi, elbert3,

what do monthly candles say on your chart? up swing? or down swing? or unknown direction?
from this week close.
  • #431,155
  • May 22, 2016 7:42am May 22, 2016 7:42am
UPDATE 1-UK's Cameron warns Brexit would drive up food prices.

http://www.cnbc.com/2016/05/22/reute...od-prices.html
The difference between gambling and speculating is risk management
  • #431,156
  • May 22, 2016 8:01am May 22, 2016 8:01am
Quoting Megatanit
UPDATE 1-UK's Cameron warns Brexit would drive up food prices. http://www.cnbc.com/2016/05/22/reute...od-prices.html
Worry not he'll change his mind next week.
  • #431,157
  • May 22, 2016 8:05am May 22, 2016 8:05am
UK leave EU is better for UK macroeconomic development, and make pound more strong and a safety currency.
1. USD is quite shit paper due to so much debt, and default.
2. Euro is so problem, Italy, Spain, etc woe.
3. Yen is cracked.

Only chinese yuan, pound, gold will be safety currency in near future.
  • #431,158
  • May 22, 2016 10:03am May 22, 2016 10:03am
http://www.dailymail.co.uk/news/arti...late-here.html

No Brexit. Buy GBP.
  • #431,159
  • May 22, 2016 2:43pm May 22, 2016 2:43pm
Quoting vaidas7777
http://www.dailymail.co.uk/news/arti...late-here.html No Brexit. Buy GBP.
Joint Ops and Training been happening for a long time. This has nothing to do with pending Brexit situation.
Indentify > Plan > Accept > Execute
  • #431,160
  • May 22, 2016 4:14pm May 22, 2016 4:14pm
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